FAQ

MY ACCOUNT

I forgot my password, what should I do?

Upon login, click the 'Forgot your password?' link under the button and enter your email address. A new password will be sent directly to your inbox and then you can log in and change the password on the Change Password page. If you do not remember which email address you used to open your trading account, feel free to contact our Customer Support.

Where can I see my transactions or trading history?

Your transaction history together with all the rest of your account activities can be accessed from the trading platform. Simply click the Reports button to access the information. You may need to use advanced filters to locate historical data.

How can I change my personal details?

On the dropdown next to your name, click Update Details. Change the details and click Save. Additionally, for your convenience, our Customer Support can assist you via email, live chat, or phone.

What is an Islamic Account?

An Islamic (swap-free) account is an account that does not involve swap or rollover interests on overnight positions. By creating the Islamic account with Octa.Trade you can trade on financial markets according to Sharia law.

How do I open an Islamic account?

In order to open an Islamic account, you will have to contact us and speak with one of our Customer Support representatives.

What is a demo account?

A demo account is a special account type that allows you to practice risk-free online trading under real market conditions with no need to utilize any of your invested funds. When you trade on your demo you use virtual money provided by Octa.Trade.

How do I fund my demo account?

In order to add funds to your demo account, you need to activate your real trading account. Once your real account is funded, contact your personal account manager and get up to $10,000 in demo funds.

What currencies are available for use in my account?

All major currencies (USD, GBP, EUR) are supported. Your selected currency cannot be changed after the account registration process has been completed.

Banking

What are the available deposit methods?

Depositing funds into your trading account can be made in multiple ways, using major credit cards, e-payments, and bank transfers.

Do I have to deposit money to register?

You can open your trading account without a deposit. However, to start trading and get unlimited access to our education center and professional services, you need to fund your account with a minimum of $250.

What is the minimum withdrawal amount?

The minimum withdrawal amount for credit/debit cards and e-wallets is $50. Additionally, the minimum withdrawal amount for wire transfers is $100.Click here for a full description of Octa.Trade withdrawal terms and conditions.

Are there any withdrawal fees?

Platinum and Black account holders are granted their first withdrawal free of charge. A service fee of 3.5% is charged on all the other withdrawals. If this percentage equals to or is less than $30, traders are charged a standard $30 withdrawal fee. The maximum service fee for a single withdrawal is $3,500. Service fees for wire withdrawals are charged to a beneficiary. Additionally, commissions of wire withdrawals are also charged to a beneficiary. Click here for a full description of withdrawal terms and methods.

How are my withdrawable funds calculated?

You can withdraw the funds displayed in your trading account balance (minus the initial margin, payouts for open trades, and pending bonuses).

How much time will it take to confirm and process my withdrawal request?

Withdrawal processing time is between 3-5 business days. Typically, the funds will be displayed on your bank statement a few days after the transaction has been processed, as the withdrawal procedure additionally requires your credit card company and bank’s approval.

How do I withdraw funds from my Octa.Trade account?

Log in to your Octa.Trade account, go to the trading platform, click your name on the right side of the screen, and select Withdrawal. Enter the desired withdrawal amount (minimum $100 for wire transfer and $50 for all other payment methods) and click Withdraw. Your account manager will contact you to finalize a transaction. You will receive your funds after approval and processing time (between 3-5 business days).

With which payment method can I withdraw my funds?

The withdrawal procedure is subjected to the initial investment method of payment you used. For instance, if you invested using your MASTERCARD and subsequently gained profits in your account, the initial withdrawal amount (up to the amount of the deposit) will be returned to your MASTERCARD. Any additional profit you have gained will be credited to you using a payment method of your choice out of our supported payment methods.

What information do I need to provide for a wire transfer withdrawal?

Please email [email protected] the following details for a wire transfer (if your account is eligible for this transaction):
Beneficiary name: XxX
Beneficiary address: XxX
Bank name: XxX
Bank address: XxX
Bank Account number: XxX
SWIFT: XxX
IBAN: XxX
Bank phone number: XxX

What is a Swift Code?

A Swift Code is a standard format of Bank Identifier Code (BIC) supplied by your banker. You will need this code to withdraw your funds via wire transfer. The Swift code consists of 8 or 11 characters, typically ending in Ficus Green (letter format).

What is an inactive account (dormant) fee?

If there are no trades executed from your account within 60 days, your account is subjected to a dormant account administrative fee of $10.00. The fee is deducted from your account balance on the 61st day of inactivity and monthly onwards until you resume your account activity or your balance reaches zero.

What is a profit clearance fee?

Trading on the Octa.Trade platform is subjected to a profit clearance fee. The fee is variable and depends on the profit volume generated from each position. ranging between a minimum of 1.50 and a maximum of 5.00 per trade (USD, GBP, or EUR).

Am I charged a profit clearance fee on all my trades?

No, the profit clearance fee applies to successful trades or those sold for profit. Additionally, the commissions of wire withdrawals are charged to the beneficiary.

How much is a profit clearance fee?

The profit clearance fee is determined by the total profit of the successful position. The fees are as follows:
250 or less = 1.50
251 - 500 = 2.00
501 - 1,000 = 3.00
1,001 - 2,500 = 4.00
2,501 or more = 5.00

These sums refer to the currency used in your account (USD, GBP, EUR).

What are the maintenance fees?

Maintenance fees are a monthly account charge, encompassing all services and features available for traders. The monthly maintenance fee of 7.50 (USD, GBP, EUR) is charged to the trading account on the last day of the month, starting with the initial investor's trade. If you begin trading after the 1st day of the month, you will be prorated for the remaining fees per how many days remain in the month.

Are my profits taxable?

Taxation depends on the tax laws of your country of residence. Therefore, Octa.Trade cannot delegate responsibility with its clients, and they must tend to their own tax liabilities.

ACCOUNT VERIFICATION

Account verification

As a regulated investment broker, we protect our clients from fraud or identity theft. It is for that reason that we require all clients to provide the necessary documentation for account verification purposes. All documentation is treated with 100% confidentiality. Upon login, clients can upload their documents directly through the site.

What documents are required to verify my Octa.Trade account?

To start trading and withdraw funds, you have to provide us with:

1. Scan/photo of your government-issued identification (ID card, driver’s license, passport)
2. Scan/photo of your proof of residence (gas/electricity/home phone bill, Bank statement, etc.)

Also, if you deposited funds via credit card – a scan/photo of the front and back sides of your card. In Terms and Conditions, you can read a full description of our account verification process.

What should be visible on my government-issued identification (ID card)?

The entire document must be clear and visible, including your full name, ID number, photo, and expiration date. The expiration date should be valid (and not expiring within 3 months of submission).

What should be visible on my Proof of Address (Utility Bill)?

The entire document must be clear and visible, including your full name, address, date of issue, and utility company logo. The document should be issued within the last 6 months of submission.

What can be a valid government-issued identification (ID card)?

Identification documents can be:

1. Passport (For all nationalities)
2. Identification card (For all nationalities)
3. Driver's license (For all nationalities)
4. Income tax ID (Indian and Pakistani clients only)
5. Internal passports (Russian clients only)

What can be a valid Proof of Address (Utility Bill)?

Address documents can be:

1. Water bill/invoice
2. Electricity bill/invoice (or voucher)
3. Gas bill/invoice
4. Landline phone bill/invoice
5. Home internet bill/invoice
6. Bank statement

Is an electronic bank statement acceptable?

An electronic bank statement is acceptable, as long as it is stamped by the bank.

I sent all the required documents so why do I receive ‘Send another document’ or ‘Documents incomplete’ emails?

Please, make sure you have sent/uploaded all the required documentation, listed here. If you have further questions, feel free to contact Customer Support.

I do not have any bills in my name, what should I do?

If you cannot provide a valid utility bill or a bank statement in your name, you can provide a valid utility bill/bank statement of someone you are living with and a signed letter, that confirms the fact you are indeed living together. The company will review this request and decide whether to verify your account or not.

What needs to be visible on my credit/debit card copies?

The front of the card must clearly display the last 4 digits of the card number, the expiration date, and the full name. The back of the card must clearly display the signature. Please ensure that the 3 digit CVV and first 12 numbers of the card are concealed.

What do I do if the credit/debit card is not under my name?

If the credit/debit card is not under your name, both you and the cardholder are required to sign a Credit Card Authorization Form. Make sure that you provide us with the credit card holder’s government-issued identification, proof of residence, and email address. Please contact Customer Support to receive the form and further details.

What do I do if I lost the credit/debit card I used to deposit with?

If the credit/debit card is no longer in your possession, you will have to sign a Funds Authorization Form. Please contact Customer Support for further details.

Where should I send the required documentation? And can I upload it online?

Please email your documents to [email protected] or click here
to upload them directly to the site.

When will I know if my documentation has been approved or declined?

Once you have provided the documents, they are reviewed within 48 business hours. You will receive an update via email as to whether they have been approved or not.

What is an eligible counterparty?

Eligible counterparties may be considered to be falling within one of the following categories:

1. Investment firms
2. Credit institutions
3. Insurance companies
4. UCITS and their management companies
5. Pension funds and their management companies
6. Other financial institutions authorized or regulated under community or national law
7. Commodity and commodity derivative traders (dealing on own account)
8. National governments and their corresponding offices including public bodies which manage public debt
9. Central Banks
10. Supranational organizations
11. Third country entities equivalent to the categories mentioned above

When dealing with eligible counterparties, the CIF obtains express confirmation from the counterparty that it agrees to be treated as an eligible counterparty. This can be obtained either as a general agreement or on a transaction by transaction basis.

Why has my account been suspended due to verification?

Due to regulatory protocols, if a client does not verify their Octa.Trade account within a specific time period, the trading account is suspended. Only once the necessary documentation has been provided and approved, the account will be unsuspended.

TRADING BASICS

What are investment amounts?

The investment amounts are the sums traders invest in trades. The amounts are not fixed and can vary according to traders' preferences. These amounts also set the level of pre-determined payout percentages and return on investment.

What are the underlying financial assets?

Underlying financial assets are the measured value of the stock, commodity, currency pair, or index from which the position is derived. Because of the assets' lack of ownership, when purchased, the cash value reflects the live market price of the asset it is based upon. Most common assets refer to the following four major markets:_x000D_

Stocks (Coca Cola, Barclays PLC, Google Inc., Snapchat, etc.)
Indices (NASDAQ, DAX30, CAC40, DJIA, etc.)
Commodities (Gold, Silver, Oil, coffee, etc.)
Currencies (EUR/USD, GBP/USD, AUD/CHF, etc.)

I attempted to invest a certain amount in a single position but got an error message: ‘You’ve exceeded the maximum investment amount'. What should I do?

The maximum investment amount is not fixed, and several factors determine it though traders are not restricted to buy or sell multiple positions or trades. If you have been denied to trade because your investment exceeds the maximum amount on a single position, you can spread your investment across several positions.

Why can't I see a particular asset?

The default assets displayed on the trading platform are assets that have proven to be in the highest demand. For a full list of the assets available for Octa.Trade traders, visit our Asset Index.

What are the displayed quoted prices/rates?

The value of an underlying asset often changes, and as a result, the change reflects the asset's quoted price – the bid/ask rate. The rates express average bid/ask prices of assets according to global financial exchanges based on an algorithmic data feed, retrieved from various providers.

What do the colors of ask and bid rates on the trading platform mean?

The colors of rates reflect the relative position of the price against the previously obtained price or quote. The underlying asset price is either higher (green) or lower (red) than the previously obtained price or quote.

What are the minimum and maximum limits for trading?

The permitted trading amount to be spent on a single position varies due to several parameters (asset class, available margin, account type, etc.).

Where are the assets' trading hours displayed?

In the Asset Index, we provide you with the lists of precise trading hours and available assets, along with expiry times and descriptions.

What is an order execution?

Order execution expresses the way of your trade submission. As market prices are in a constant movement, not every submission of a trade request is approved. Therefore, to ensure your trade request is submitted according to your terms, the order execution tool connects your trade to the markets and controls the price at which your order/trade is executed.

Which order execution types are available?

Octa.Trade offers 2 order execution types for traders to enter the market with:

1. 'At Requested Price' type allows you to determine one specific price at which your orders can be executed. With this execution type, your order will either be rejected or accepted, depending on the market price of an asset. If the price changes, the system won’t be able to execute the trade. However, if the market price doesn’t change, your order will receive approval and will be executed according to your request.

2. 'At Market' type allows you to execute an order, even when the price change doesn’t allow it. This option prevents you from having trades rejected. Instead, it executes your trade at the best available current market price.

I have questions about a trade outcome. What should I do?

If you have a question about a past trade feel free to email it to Customer Support at [email protected]. The email should include a screenshot, that illustrates the situation.

CFD TRADING

What are CFDs?

A CFD (Contract for Difference) is a leveraged derivative financial instrument. When trading CFDs, you basically take a position on the change-in-value of the underlying asset over time. CFDs are derivatives as their value is derived from the value of another asset (such as a stock, commodity, index, or currency). CFDs do not have an expiry date like binary options and they can only be closed by making a reverse trade.

What is a BUY position?

A BUY position is an act of buying an underlying asset, such as a stock, currency, index, etc., with the expectation that it will rise in value.

What is a SELL position?

A SELL position is an act of selling an underlying asset, such as a stock, currency, index, etc., with the expectation that it will drop in value.

What is a pip?

A pip (Point in Percentage) is considered the smallest price change that a given exchange rate can create. Pip is the term used to describe the smallest incremental move of an exchange rate on the currency market. Depending on the context, one basis point equals 0.0001 (for assets like EUR/USD, GBP/USD, USD/CHF), and 0.1 for assets like USD/JPY.

What is the meaning of spread?

Spread is the difference between the bid price and the ask price of an underlying financial asset. It can be considered as the difference between the price at which you can sell the trading asset and the price at which you can buy the trading asset.

What is the meaning of leverage?

Leverage is considered as the use of ‘borrowed money’ to magnify any profit (financial leverage). In other words, it is the ability to hold an investment position of greater value than that of your total equity (collateral.) When leveraging your investment, you only need to deposit a small fraction of the actual value of the position you are holding.

What is an initial margin requirement?

For all CFDs (forex, stocks, commodities, and indices), the initial margin is the minimum available amount that’s required to open a trading position. It is calculated by multiplying the initial position value by initial margin instrument %.

What is a maintenance margin requirement?

The minimum amount that an investor must have available in their account to keep open or maintain a specific trading position. It is calculated by multiplying the initial position value by asset maintenance margin %. In other words, the maintenance margin requirement is considered as the minimum amount to be collateralized to keep a position open.

What is a margin call?

A trader receives a margin call from his broker if one or more of the securities he has bought decreased in value at a certain point. The most common cause of a margin call is the use of excessive leverage with inadequate capital while holding on to losing trades for too long instead of closing them. When this occurs, you no longer have the funds in your account to hold the position/s and need to either close them or add funds to your account.

What is a stop-loss order?

A stop-loss order is an order that closes out your trading position with the intent of cutting down your losses when the market moves in the opposite direction of your trade. Placing stop-loss orders solely depends on your trading strategy. For instance, if the market suddenly breaks the trend that you are trading and moves far enough in the opposite direction, your account will be protected from unwanted losses.

What is a take-profit order?

A take-profit order is an order that specifies the exact rate or number of pips from the current price point that is required to close out your current position for a profit. Take-profit orders are used to lock in profits if the rate moves in the same direction as your opened trade.

What is an entry order?

An entry order acts like a conditional order to buy or sell at predetermined a price (other than the current price).

What is a bid price?

A bid price represents the maximum price that a buyer or a group of buyers are willing to pay for an underlying financial asset. In other words, it is considered as a price quotation that indicates the best price at which an underlying financial asset can be sold.

What is an ask price?

An ask price represents the minimum price that a seller or a group of sellers are willing to receive for an underlying financial asset. In other words, it is considered as a price quotation that indicates the best price at which an underlying financial asset can be bought.

Does CFD trading with Octa.Trade require any previous financial experience or background?

CFD trading with Octa.Trade requires no previous financial experience or background. All you need is a computer or a mobile device and an internet connection.

What is the maximum leverage that is offered for CFDs at Octa.Trade?

The maximum leverage that is offered for CFDs trading at Octa.Trade is 1:200 and it's available on selected assets and for selected account types.

What is a strike price?

A strike price, also known as the "exercise price", is the rate at which an underlying asset is exchanged, the moment a CFD position is executed.

What are the returns on successful investments?

The returns on successful investments vary and are based on the movement of the market, margin amount, leverage ratio, selected asset, investment amount, and the position's duration.

FX TRADING

What is FX?

FX, more commonly known as Forex or Foreign exchange, is the biggest and most traded market in the world, where global currencies are bought and sold with an average turnover of more than $5 trillion per day. Forex is traded 24 hours a day, 5 days a week and unlike other financial markets, it has no centralized marketplace. Thus, the Forex market attracts many traders: both beginners and experienced ones.

How do I trade FX?

FX trading with the Octa.Trade platform is very simple and involves buying one currency pair and simultaneously selling another. As soon as you log in to your trading account, you are prompted with a click of a button into the trading platform, where you can select a variety of currency pairs, such as majors, minors, or exotic. Once chosen, all that’s left to do is enter the amount you wish to BUY or SELL, set the stop loss and take profit parameters (optional) and click the Invest button. The same principle also applies to CFDs.

What is a base currency?

The base currency (also called the transaction currency) is the currency against which the exchange rate is quoted. As a rule, it will always be the first currency of any pair. For instance, in GBP/USD, the base currency is GBP.

What is a quote currency?

The quote currency (also called the secondary currency) is the second currency quoted in a currency pair. For instance, in GBP/USD, the quote currency is USD.

Does FX trading with Octa.Trade require any previous financial experience or background?

The answer is no. There is absolutely no need for any previous experience to start trading Forex with Octa.Trade.

What is the maximum leverage that is offered for FX at Octa.Trade?

The maximum leverage that we offer currently stands at X200.

What is a strike price?

A strike price reflects the entry-level market price for an underlying asset when a position is executed.

What are the returns on successful investments?

The returns on a successful investment at Octa.Trade may vary and depend on market movements. You can follow this formula to get an idea as to how returns on successful investments are calculated: (Closing Rate-Opening Rate) x (Closing {quote}/{home currency}) x Units.

What’s the difference between traditional trading and Forex trading?

The difference between traditional trading and forex trading is primarily regarded to their acquisition, or better yet, lack of acquisition. Traditional trading (such as stocks trading) has to go through stock exchanges, whereas forex trading does not involve any acquisition, just pure trading.

TECHNICAL

Why can’t I log into my Octa.Trade account?

The most common reason for login errors happens when the password is copy-pasted (since there may be spaces before or after the password.) Make sure you type it correctly. An additional reason for login error is when your browser is storing old passwords through cookies. Please clear the cookies through the browser settings and if the problem persists, try entering with a different browser. For further assistance, please contact Customer Support.

Do I need to download any software to use the Octa.Trade trading platform?

No. All that is required to trade with Octa.Trade is to register online and fund your account.

How do I change the displayed language?

Languages can be altered using the drop-down menu at the top of the page.

What do I do if I can't open an eBook?

Our eBooks are in PDF format. Some browsers support them without any additional plugins. If yours does not, please install a PDF viewer. The most common one is Adobe Reader. For further assistance please contact Customer Support.

Do I need to download Java™ in order to use the Octa.Trade site and platform?

No. Java™ is not required.

Why don’t I get any newsletters?

There may be several reasons as to why you do not see our emails in your Inbox:

1. It went to the Spam folder (due to the email server mistakenly identifying our emails as spam).

2. Various email servers have interruptions, you may be encountering a temporary delay.

Please contact Octa.Trade Customer Support for further assistance.

Why are some pages of the platform unavailable?

You may need to check if you are using https:// - if so, please change it to http://.

PROMOTIONS

What are trader points?

Traders points are trading volume indicators. They are calculated per traded position amount and are accumulated each time you close CFD positions.

CFDs calculation method:

For example, You bought 100,000 EURUSD, the value of the position is converted to your account nominated currency. Therefore, if your account currency is USD, the value of the position will be converted to USD using the real-time EURUSD conversation rate. Let’s assume the EURUSD conversion rate is 1.07 therefore 100,000 EUR * 1.0700 = 107,000 USD. The USD ($) value of the position is now multiplied by 0.001%, which eventually entitles you with 1.07 trader points (107,000 USD * 0.001% = 1.07 trader points).

Please note, the example above is given for an account with USD as the main currency.

Do I need a certain amount of traders points in order to stay in a certain account type?

Yes. In order to maintain a certain account status, you must accumulate a minimum monthly amount of traders points, depending on your account type. You can easily restore any account status by fulfilling the monthly trader points requirement for that account type, as long as you meet the minimum deposit criteria, or by making the minimum required deposits that will automatically upgrade you to the next account type.

What is a pending money bonus?

A pending money bonus, when granted, is not added to your account right away. Instead, there is a requirement of a specific trading volume that needs to be generated for the bonus to be released into your trading account (before expiration). With this, your account does not have any additional restrictions upon withdrawing. To view your current bonus requirements, check out our Bonus Terms and Conditions.

How do I check my pending bonus status?

You can easily check your pending bonus status on the trading platform:
1. Click the Trading Room button (located on the upper right-hand side).
2. Click the Reports link (located under the Deposit button).
3. Select the Bonus Report tab.
4. Monitor the Points Achieved column to track the volume accumulated daily, and subtract it from the Points Requirement column to understand how many traders points are needed.
Please take into consideration the expiry date for each pending bonus. To get the bonus expiry date, contact your account manager.

Can I use the pending bonus before the required trading volume is met?

Before the trading volume is met, your pending bonus is segregated from your available funds and is not available for trading or withdrawing.

How do I join the trading challenge?

To qualify for participation in the challenge and get a chance to win cash prizes, all you need is to fund your trading account and contact your account manager.

What prizes can I win in the trading challenge?

Each month there will be 10 winners. Rewards vary from challenge to challenge and can range from $300 all the way up to $50,000.

How do I accumulate points in the trading challenge?

Each month the parameters change. Points can be earned depending on trading volume, trading on specific assets, the number of successful trades, and so on.

How do I claim my challenge prize?

Participants must claim their winnings in the first 2 weeks following the end of the challenge. Please contact Customer Support for further assistance.

What happens if the challenge results in a tie?

If the challenge results in a tie for one of the winning ranked places, the prizes are equally split among the contenders.

What is the refer a friend program?

Our Refer a friend program is an exclusive reward program in which Octa.Trade trader invites his friends to trade with us. When the referred friends become traders, the referrer is rewarded with referral bonuses.

How do I enter the refer a friend program?

Entering the program is simple. You send your contacts an invitation link via Facebook, Twitter, email, etc. In addition, you can also enter your friends’ details and we will invite them for you. On each deposit of up to $1,999 your friends make, you get a $200 referral bonus. On deposits of $2,000 and up you get a $300 referral bonus.

How do I claim my referral cash bonuses?

To be eligible for the referral bonus, your referred friend must make a deposit within 120 days of the referral date. You’ll be able to redeem your referral bonus once the referred friend opens 8 positions or reaches a 0 balance on their account.

SAFE PLACE

How are my funds protected?

We make sure your funds are 100% secure at any given time. That's exactly why we distinguish our clients' funds by segregating them in separated bank accounts, completely isolated from the money of Octa.Trade.

How do you keep my account details safe?

Your account details are safe thanks to Octa.Trade state-of-the-art security measures. Your funds and personal information are encrypted with SSL protocol and safely stored. Additionally, our site is constantly monitored to ensure complete protection from identity theft and/or credit card fraud.

Do you provide real-time market quotes?

Yes. As a part of the services we offer, we are required to provide you with a fully-transparent trading environment. Our advanced system is programmed to quote up-to-the-minute market prices with zero delays.