Thread: OctaFX - Where people meet profit

Local banks deposits are now available for our Indian clients

We are happy to announce a deposit option that has been highly requested by our Indian customers. We’ve recently launched Indian local bank deposits and you are free to deposit and withdraw your funds easily using the following banks:

• AXIS
• HDFC

Here is a detailed instruction how to deposit to your account:

1. Open a real OctaFX account or Log in to your personal area.
2. Choose Indian banks in the “Deposit my account” section.
3. Choose “Wire the funds” and find OctaFX bank details.
4. Make a transfer to OctaFX bank account. The minimum deposit amount is 500 Indian rupees
5. Press the “Notice after transfer” button.
6. Create the “Notice” and specify the amount of the deposit, your payment method, time of payment and your bank name.
7. Press the blue “Request” button.
8. Wait until the request is processed.
9. Done, your account is credited!

We offer the best exchange rates as per central bank. We would like to remind you that we charge no commissions! The minimum deposit amount is only 500 Indian rupees.

In case you have any questions, please don’t hesitate to contact us.

Thank you for trading with OctaFX!

EUR/USD extending gains, now aims to reclaim 1.1200 handle

US Dollar weakness remained a key theme in the FX market on Wednesday, with the EUR/USD pair extending its gains to currently trade around session high near 1.1175 region.

After dipping below 200-day SMA on Tuesday, the pair recovered sharply as disappointing US labor productivity now seems have dented prospects of an eventual Fed rate-hike in 2016 and weighing heavily on the greenback.

In absence of any important economic releases, broader sentiment surrounding the US Dollar would continue to drive the major until Friday's release of monthly retail sales data from the US. In the meantime, RBNZ monetary policy decision on Thursday might trigger some volatility in the markets and eventually provide some immediate momentum play.

From technical perspective, the pair's rebound from 200-day SMA region has lifted it beyond 1.1150 region (50-day SMA) and is also sustaining the strength at higher levels. Hence, only a turnaround in sentiment would hinder the pair's ongoing upward trajectory.

Technical levels to watch

From current levels, the momentum seems to lift the pair towards 1.1200 handle, which could further get extended towards its next major resistance at 100-day SMA near 1.1230 region. On the flip side, 50-day SMA resistance break-point near 1.1150 now become immediate support to defend, below which the pair could drop to 1.1110-1.1100 support area before heading back towards the very important 200-day SMA support near 1.1080-75 region.

Round 53 of OctaFX Champion demo contest: time to know the winners!

The results of Round 53 of the OctaFX Champion demo contest are out, so let's meet and congratulate our recent winners who shared the prize fund of $1000. They were happy to give us their insights into their trading methods and successes.

● 1st place with the award of 500 USD goes to Mr. Indra Sakti Laksana from Indonesia.
● 2nd place with the award of 300 USD goes to Mr. Ibnu Hajar from Indonesia.
● 3rd place with the award of 100 USD goes to Mr. Budiman from Indonesia
● The last place is Ms. Insana from Indonesia who has won 100 USD

To gain some more insight and tips - just read the following interviews from our successful traders!

1st place: Mr. Indra Sakti Laksana from Indonesia

I am very happy to be a winner with OctaFX. I do not spend a lot of time trading, but it takes a lot of concentration to keep up with all the participants. I will take part in every contest whenever possible to practice and focus more. Within trading I use a combination of various analyses of the current price conditions. I have not experienced anything spectacular but it depends on the individual trader.

2nd place: Mr. Ibnu Hajar from Indonesia

I am very happy to be involved in the contest although I did not spend much time trading.
In the coming months I want to improve my trading knowledge and experience. My plan is to take part in the contest more often after my recent success to improve my chances of winning. Being disciplined in money management is important to trade well. My advice to help you trade better is that you need to see the bigger trading picture. I did not use many techniques, just the Bollinger Bands (BB). It has taken me approximately two years to develop a good understanding of the best strategies.

Bollinger Bands - this is a member of the “Trend” family of technical indicators within Forex trading. Traders use the bands to anticipate increases or decreases in volatility that can signal trend changes.

Last place: Ms. Insana from Indonesia

My plan is to do better in order to achieve better results. This experience has been a lesson for my trading skills. I normally do not spend a lot of time trading as I do it in my spare time. My most successful trade has been a profit of $1159.20. I used BBMA or Bollinger Bands (BB) when I traded recently. To be a good trader and knowledgeable, takes approximately two years I think.

It just takes a few moments to join our fantastic contest. Just register here and accept the challenge to be in with a chance to win!

Join the OctaFX Champion Demo contest today!

EUR/USD consolidates the vertical rise ahead of US data

The EUR/USD pair is currently consolidating the vertical rise witnessed last hours, with the bulls keeping range in the upper bound of 1.12 handle, as focus now shifts to the US dataflow due ahead of the US open.

EUR/USD at post-Brexit highs

Currently, EUR/USD rallies +0.77% to 1.1269, having posted fresh eight-week highs at 1.1277 post-European open. The main currency pair remains heavily bid, although fails several attempts to take on the recovery further towards 1.13 handle, as the bulls turn nervous heading into the much-awaited US CPI report due later in NA session.

However, the bid tone behind the EUR/USD pair remains intact as the US dollar suffers steep losses, largely on the back of repositioning ahead of the key risk events from the US dockets, viz., CPI, industrial output, housing starts, building permits and capacity utilization rate. The USD index meanders near fresh two-month lows of 94.73, recording a 0.82% loss on the day.

Calendar-wise, we had the ZEW surveys from Germany as well as the Eurozone, with the German headline ZEW economic sentiment coming in stronger at 0.5 in August as compared to July’s -6.8 points, however, missed markets’ expectations of a 2.0 reading.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.1277 (2-month highs). A break beyond the last, doors will open for a test of 1.1300 (psychological levels). On the flip side, the immediate support is placed at 1.1204 (100--DMA) below which 1.1183 (5-DMA) could be tested.

Industry’s best Islamic accounts

OctaFX is proud to be awarded the Best Islamic account Forex Broker title by Forextraders.com!

OctaFX Islamic account is a unique offer designed exclusively for Muslim traders. Islamic account has no swap applied during a rollover but a fixed fee instead. This fee is not an interest and primarily depends on the direction of your position. You can calculate the commission for your particular trade using the tool on our website.

We care about our customers and we do our best to make their trading experience easy and convenient.

Open an award-winning Islamic account with OctaFX today!

50% deposit bonus for cTrader real accounts is now available

With the success and popularity of our promotion for users of MT4, we are now introducing it to cTrader users. OctaFX is all about driving Forex trading to new levels and we are proud to announce a 50% deposit bonus for cTrader users!

Enjoy trading and add half of your deposit as a bonus! Simply deposit funds to your account and you can choose what bonus you want to have - between 10% to 50% of your deposit. It is the perfect chance to increase your account free margin and potentially gain more profit.
Any user, whether new or existing, can enjoy the benefits of the offer. You can also choose to receive bonuses automatically via your Personal Area, every time you deposit to your account.

To receive this exclusive offer simply:

1. Register an account with OctaFX
2. Deposit funds to your account with no commissions
3. Get bonus

You can get bonus upon each of your deposits and it is withdrawable, please see rules.

OctaFX reserves the right to change, update or cancel this promotion with notification in the Company news.

Round 50 of cTrader Weekly Demo Contest with OctaFX

Round 50 of cTrader Weekly demo contest is finally over, and it's our pleasure to announce the brand new winners of the contest!

Five skillful traders share the weekly prize fund of $400, and here they are:

• 1st place with the award of $150 goes to Mr. Dony Fitrah from Indonesia.
• 2nd place with the award of $100 goes to Mr. Rizwan Ahmed from Pakistan.
• 3rd place with the award of $75 goes to Mr. Grigoriy Danilov from Uzbekistan.
• 4th place with the award of $50 goes to Mr. Kirit Rupala from India.
• 5th place with the award of $25 goes to Ms. Sri Wahyuni from Indonesia.

The cTrader Weekly demo contest offers the ideal chance to win one of our valuable prizes while offering a risk-free option in demo trading. If you’ve never traded on cTrader platform before, it’s now your time to test its unique features such as:

• Mobile trading (mobile browser or iOS/Android app)
• Direct Market Access brokerage capabilities
• Creating and sharing screenshots automatically
• Algorithmic trading with cAlgo
• Full-size tick chart
• Reversing/doubling position in one click
• Closing all open positions in one click

This contest is an ideal option both for those who are testing their skills or starting out in the Forex market.

Are you ready to test your trading skills and win one of the prizes? Don't miss out! Then open a demo account to participate in the next cTrader Weekly demo contest round! Don't forget to check our website for more great offers!

Round 54 of OctaFX Champion demo contest!

The results of Round 54 of the OctaFX Champion demo contest are here, so let's meet and congratulate our recent winners who shared the prize fund of $1000. They were happy to give us their opinions and views into their trading methods and successes.

● 1st place with the award of 500 USD goes to Mr. Sandi from Indonesia.
● 2nd place with the award of 300 USD goes to Mr. Robert Aleniko from Indonesia.
● 3rd place with the award of 100 USD goes to Mr. Modh Azam Yazid from Malaysia.
● The last place is Mr. Anees ur Rehman from Pakistan who has won 100 USD.

To know more about how our great winners and how they achieved their success - just read some of the following interviews!

1st place: Mr. Sandi from Indonesia
I´m very happy and proud to be a champion of OctaFX contest because I´m a newbie and I could beat the other participants who are more experienced than me. I use almost all of my spare time to focus on the contest because I want to compete seriously. It is important not to be complacent with this victory, and it should be a motivation for the future in trading. Promotions offered by OctaFX are really attractive for traders. If there is any other promotions in the future, I would like to get involved again.

The key factor of my success was believing in myself and that I'm capable of using the trading techniques. My advice for other traders is to focus with 1 or 2 techniques and learn them deeply. Also you need to be calm and try not panic while trading.

My best profit I made was when I was trading on the news release with a fluctuating movement. And my biggest loss was when the movement of the candle was not in accordance with my expectation.

To be a good trader you must go through several phases. The failures at the beginning of trading can be used as trading experience for the future. And of course, you need to be strong mentally.

2nd place: Mr.Robert Aleniko from Indonesia
I´m very happy with the victory that I have achieved in this contest, despite only being in second place. With the results that I have obtained during the recent contest, at least there is progress in every open position I made, Sometimes it is enough to see the progress every hour. However, when I have free time, I always check the currency movement to take action at the right moment, to open position in accordance with my analysis.

This is my first victory so it makes me even more eager to join in all contests and promotions held by OctaFX. My success in this contest is always followed by news or financial news on the OctaFX website. To reinforce my analysis, I put on some indicators within MetaTrader 4.

I still have not mastered the strategies to get a consistent profit, but I am more comfortable using fundamental techniques.

The biggest profit that I made was $7 740. And my greatest losses occurred on the last day of the contest because I opened a position without strong analytical and trading thoughts, against the market.

In my opinion, it takes a long time to be a good trader who can earn a consistent profit. However, OctaFX can help beginners like me, to understand forex trading.

3rd place: Mr Modh Azam Yazid from Malaysia
Thanks for having such a great contest! I´m very, very happy as this is my 1st time that I have achieved this kind of win. I use almost all of my leisure time to learn and practice trading in forex and I used the OctaFX Demo contest as a way to challenge myself.

One thing I would suggest is to practice and master one particular technique. I've tried various techniques but now I'm using only one technique which I feel suits me well. It is basically just follow the trend & get into the market at the end of retracement.

My best financial gain was when I got 3rd place in OctaFX Champion Demo Contest. I was so happy. Also, my biggest loss was over a period of time, when I lost thousand of dollars learning to trade forex. I have been involved in trading forex for almost two years and I would say I probably need another two years to become a good trader.

Last place: Mr. Anees ur Rehman from Pakistan
All I can say is that due to some bad trading decisions my trading account came to zero in first week after coming in the TOP 20. I have registered myself in the next round and I will try to improve my skills before trading using a real account.

I have learnt a lot from this experience. There is no shortcut to becoming a good trader. You need to focus on the long term rather than the short term. I remember my last trade was successful. On that day I managed to make 400+ USD in my championship account. As per your other questions, it doesn't take much time to trade but you have to dedicate two to three hours minimum per day.

And to become a good trader you need to practice for around two years before trading with real accounts using low amounts at first.

Ready to try the OctaFX Champion demo contest yourself? Just register here and accept the challenge to be in with a chance to win!

Join the OctaFX Champion Demo contest today!

OctaFX Security

Our client's funds security is our top priority. With OctaFX you can be absolutely sure your deposits are secured in every possible way. Here are some of the measures we take to ensure funds protection:

SSL-protected Personal Area
We use highly secure technology to protect your personal data and financial transactions. SSL-secured Personal Area is protected with 128-bit encryption, which makes your browsing safe and your data inaccessible to any third parties.

Account verification
OctaFX recommends you to verify your account by submitting your personal ID scan and an address proof. This simple measure will make sure your transactions are authorized and secured.

Secure withdrawal rules
Since a withdrawal from a live account requires an email confirmation, no one can ever access your account but yourself. It is also required that you use the same payment details for deposits and withdrawals. Thus, under no circumstances can OctaFX transfer your withdrawal to an unauthorized third party.

3D secure Visa/Mastercard authorization
We apply 3D secure technology when processing credit and debit cards. This technology makes all Visa/Mastercard transactions transparent and safe.

Advanced protection
The OctaFX technical environment is monitored 24/7 by a dedicated team of highly professional security engineers and technical specialists. They have developed and maintain top level protection, so any data loss, damage or other technical issues are highly unlikely.

OctaFX: your top-notch broker. Join today!

OctaFX sends best wishes to Muslims celebrating Eid Al-Adha

OctaFX sends its best wishes to Muslims around the world celebrating Eid al-Adha, marking the end of Hajj, the holy pilgrimage to Mecca.

As Muslims gather with their families we wish you a peaceful and joyous Eid al-Adha.

Eid Mubarak from the team at OctaFX.