Is Octafx.com a fair Forex Broker?
OctaFX is a Forex Broker offering Forex Trading services via MT4 / MT5 and cTrader trading platform. Orders execution model of OctaFX should be ECN, but OctaFX has big regular contests and 50% deposit bonus, so they are most likely one of the liquidity providers in their ECN. Their high 1:500 leverage is also questionable. High leverage, contests and % deposit bonuses are always not a good sign for traders. Some traders at other FX forums experienced issues with profits cancellation when they executed profitable trades.
Pros: ECN account, cTrader trading platform
Cons: Questionable leverage, % deposit bonus, slippage experienced, do they cancel profits of traders?