Trading on the OctaFx is the exchange of one currency into another currency and this is done for several reasons which include commercial, tourism and international trade. OctaFx is traded on the forex market and it is open for buying and selling currencies 24 hours in a day and five days in a week. It is as well used by businesses, firms, investment firms and retail traders. However, the major feature of the OctaFx is that there is no physical central marketplace for exchange, all trading are usually done automatically via computer networks
It is important that as a trader you know how to trade properly on the OctaFx to avoid any loss. The following are ways on how to trade on the OctaFx
- Open an account with OctaFx: On your browser type in octafx.com, then navigate to open account on the dashboard, fill in all required details, then after a successful registration you will receive an Email with your login details, trading account document and all other information you would need. However, to get bonuses, manage funds and take part in promotions, you are required to login to your personal area. To also access the trading platform, you would need the trading account document or credentials that was initially sent to you.
- Choose the Platform: on the OctaFx, you would be required to select if you would want to use the Metatrader 4 or Metatrader 5 to trade. The Metatrader 4 is the best standard for Forex trading while the MetaTrader 5 enables you to set up your trading options better.
- Make a deposit: log into your personal area to make deposit without charges of any commission, however with a minimum of 40 dollar you can start trading but this depend on your region and also our mode of payment. Depositing funds permits you to receive a 50% bonus and maximize potential profits.
- Sign in to the web based platform: this allows you to trade on your device anytime without prior installation, however you can download the OctaFx for Android users on playstore or you can as well download a desktop version.
- Trading: currency in forex trading are quoted in pairs and are known as the ISO code, however depending on how frequently they are used, they can be divided into three different segments and which carries any of the following currencies which are the US dollars, Euro, the Great Britain Pound, the Japanese yen, the Canadian dollar, the Swiss franc, the Australian dollar and the New Zealand dollar. The first segment is the major pairs, in major pairs the US dollar is paired with any of these currencies for instance USDCHF, secondly is the cross pairs it comprise of two major currencies which does not have the US dollar included for instance EURJPY and thirdly is the exotic pairs, which comprise of a major traded currency and a lesser traded currency for example USDHDK. After this process, you can then you can go ahead with adding cryptocurrencies to the asset list by pressing +, select crypto and choose the currencies you want to trade if you are making use of your mobile phone, but when making use of the desktop right click on market watch and select show all.
On the OctaFx, you can trade your Bitcoin Cash, bitcoin, Ethereum and Ripple. On the OctaFx, you also would be able to receive free trading signals plugin, where you can see detailed technical analysis and the best crypto price predictions.The crypto price rises and falls just like any other stock, commodity or currency and as much as it is usually affected by forseen external factors, you can still make a significant profit.