It's a new year already!!!!
Wishing you all a wonderful and blissful year.
WELCOME TO 2024 LOVELIES đź’–đź’–
Wishing you all a wonderful and blissful year.
WELCOME TO 2024 LOVELIES đź’–đź’–
About balarex
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balarex
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Name:
Yusuf Bala
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Age: 23 years old
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From:
Kebbi, Nigeria
Joined:
18th Nov 2023, 8:43am
User ID:
33275
Happy Sunday!
Wishing you a wonderful and blissful Sunday celebrations.
Wishing you a wonderful and blissful Sunday celebrations.
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Happy Christmas Fam
Wishing all yha a wonderful and joyous celebrations
Wishing all yha a wonderful and joyous celebrations
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Advent season greetings to y'all
Festivities
Festivities
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Life is full of surprise's.
Everyday is different from another
Everyday is different from another
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Happy Sunday Guys!!!
It's another beautiful day to worship and give God thanks 🙏
It's another beautiful day to worship and give God thanks 🙏
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Many said
Life is not a bed of roses!
Life is full of ups and downs!
Life a mirage!
Life a deep ocean!
But what do u say LIFE is?
Life is not a bed of roses!
Life is full of ups and downs!
Life a mirage!
Life a deep ocean!
But what do u say LIFE is?
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Energy Audit
INTRODUCTION
1.1
What's an Energy Audit:
An energy audit is an inspection/survey and analysis of energy flow and usage of a building. It is to used to control the usage of energy input into the energy system without negatively affecting the energy output of the system.
1.2
Objectives
The energy audit is define to meet the following objectives:
To conduct an observation of the energy consumption of all electrical appliances in the lecture theatre.
Identify and evaluate measures that could improve the environmental performance of the lecture theatre and provide recommendations.
Determine what can be done to reduce the energy consumption of the building and what options are available for system improvements.
Suggesting cost effective measures to improve the efficiency of energy use.
INTERPRETATION OF TERMS
Energy Conservation: means steps taken to reduce and to use as much energy as necessary through changing energy consumption behavior. E.g Switching OFF lights and fans when not in use or in need.
Energy Efficiency: using less energy to provide the same output/service. E.g Replacing inefficient light bulbs with efficient ones.
Vampire Load: means the way power is consumed by electronic and electrical appliances while they are switched OFF or in standby MODE( consuming electricity at a cost but not doing any work).
Retrofitting: means upgrading an existing system to improve energy efficiency.
Potential Savings: means the actual reduction in operating expenses from the improved energy efficiency generated by an energy conservation/efficiency activity.
ENERGY AUDIT METHODOLOGY
Data Collection: the data collection was performed by observation and measurements.
Data Analysis: the data collected is processed to draw significant conclusions to pinpoint loopholes and identity the areas to focus upon.
Recommendation: On the basis of the results of data analysis and observation. Some steps for reducing power consumption without affecting the comfort and satisfaction were recommend along their cost analysis.
FINDINGS
Lightning
Lightning is the most common laod which is used in the lecture theater. Here are some of aspects and faults that were discovered during the course of my observation.
Observation/Issues
It's been observed that there is a lot of unnecessary usage of lights especially during the daytime.
There are many lights assigned to one switch.
There are many faulty lightning fittings and bulbs.
Recommendations
Turn off lights when not in use or need.
Replace faulty lightning fittings and bulbs.
Air Conditioning
Observation/Issues
People leaving door open when entering and exiting the theatre when the air conditioner is on, this causing lost of energy.
Windows and doors of Lecture Theatre not sealed properly.
Air conditioners not working properly.
Recommendations
Air conditioners to be serviced regularly.
Use sealed glass windows and doors.
Always close the door when entering and exiting the Theatre.
Switch OFF when not in use and also avoid reducing to a lower temperature and leave it on.
Electric Fans
Observation/Issues
Some of the fans are totally not working.
Most of the fans working are faulty.
Recommendations
Faulty fans should be replaced or repair.
The fans should be serviced regularly.
Vampire Load
Observation/Issues
Electronic appliances (ACs) are ON even though there are turned OFF.
Appliances on standby MODE are draining power even though they are not doing any useful task.
Faulty lightning fittings which don't have bulbs and or have faulty bulbs which is intact are also vampire loads.
Recommendations
All electronic appliances should always be unplugged or turned OFF from the power sockets after use.
Remove fault lightning fittings
Try to avoid putting appliances on standby MODE.
1.1
What's an Energy Audit:
An energy audit is an inspection/survey and analysis of energy flow and usage of a building. It is to used to control the usage of energy input into the energy system without negatively affecting the energy output of the system.
1.2
Objectives
The energy audit is define to meet the following objectives:
To conduct an observation of the energy consumption of all electrical appliances in the lecture theatre.
Identify and evaluate measures that could improve the environmental performance of the lecture theatre and provide recommendations.
Determine what can be done to reduce the energy consumption of the building and what options are available for system improvements.
Suggesting cost effective measures to improve the efficiency of energy use.
INTERPRETATION OF TERMS
Energy Conservation: means steps taken to reduce and to use as much energy as necessary through changing energy consumption behavior. E.g Switching OFF lights and fans when not in use or in need.
Energy Efficiency: using less energy to provide the same output/service. E.g Replacing inefficient light bulbs with efficient ones.
Vampire Load: means the way power is consumed by electronic and electrical appliances while they are switched OFF or in standby MODE( consuming electricity at a cost but not doing any work).
Retrofitting: means upgrading an existing system to improve energy efficiency.
Potential Savings: means the actual reduction in operating expenses from the improved energy efficiency generated by an energy conservation/efficiency activity.
ENERGY AUDIT METHODOLOGY
Data Collection: the data collection was performed by observation and measurements.
Data Analysis: the data collected is processed to draw significant conclusions to pinpoint loopholes and identity the areas to focus upon.
Recommendation: On the basis of the results of data analysis and observation. Some steps for reducing power consumption without affecting the comfort and satisfaction were recommend along their cost analysis.
FINDINGS
Lightning
Lightning is the most common laod which is used in the lecture theater. Here are some of aspects and faults that were discovered during the course of my observation.
Observation/Issues
It's been observed that there is a lot of unnecessary usage of lights especially during the daytime.
There are many lights assigned to one switch.
There are many faulty lightning fittings and bulbs.
Recommendations
Turn off lights when not in use or need.
Replace faulty lightning fittings and bulbs.
Air Conditioning
Observation/Issues
People leaving door open when entering and exiting the theatre when the air conditioner is on, this causing lost of energy.
Windows and doors of Lecture Theatre not sealed properly.
Air conditioners not working properly.
Recommendations
Air conditioners to be serviced regularly.
Use sealed glass windows and doors.
Always close the door when entering and exiting the Theatre.
Switch OFF when not in use and also avoid reducing to a lower temperature and leave it on.
Electric Fans
Observation/Issues
Some of the fans are totally not working.
Most of the fans working are faulty.
Recommendations
Faulty fans should be replaced or repair.
The fans should be serviced regularly.
Vampire Load
Observation/Issues
Electronic appliances (ACs) are ON even though there are turned OFF.
Appliances on standby MODE are draining power even though they are not doing any useful task.
Faulty lightning fittings which don't have bulbs and or have faulty bulbs which is intact are also vampire loads.
Recommendations
All electronic appliances should always be unplugged or turned OFF from the power sockets after use.
Remove fault lightning fittings
Try to avoid putting appliances on standby MODE.
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OctaFX Review
CFDs are complex instruments that comes with a high risk of losing lots of money rapidly due to leverage. About 74-89% of retail CFD accounts lose money. You considering whether you understand how CFDS works and whether you can afford to take high risk of losing your money.
OctaFX offers a basic, low-cost MetaTrader platform experience alongside its social copy trading platform.
It has made great strides with its pricing options for traders, but stuffers from a limited range of trade able instruments and a lack of variety in its educational content. OctaFX also holds just one regulatory license.
OctaFX Trading Company
The OctaFX Broker has been providing Forex services since 2011. It operates under the CySEC license and provides favourable conditions for Forex traders. At the moment, OctaFX has been chosen by more than 6.6 million clients worldwide as an intermediary to the financial markets, but the broker is focused on the countries of the Asia-Pacific region. OctaFX is popular in Indonesia, Malaysia, Pakistan and other countries. Its services are used by both active traders and passive investors who prefer to copy the successful trading strategies of other market participants. In 2020, Octaywas named The Best CFD broker in the Asia-Pacific region by Capital Finance International, and in 2021, The Best Forex Broker in Asia by Global Banking and Finance Review.
đź’° Account currency: USD, EUR
🚀 Minimum deposit: From USD 25
⚖️ Leverage: Up to 1:500
đź’± Spread: From 0,6 pips
🔧 Instruments: 32 currency pairs, 10 cryptocurrencies, 3 CFDs on energy resources, 10 indices, gold, silver and +150 CFDs on stocks
đź’ą Margin Call / Stop Out: 25%/15%
OctaFX Review
We’ve identified your country as Nigeria NG
Traders Union experts have analyzed all companies providing trading services in your country legally and compiled a rating of the best companies that offer the best working conditions, have reliable reputation and the highest number of positive reviews among traders on our website.
We’ve selected the Top 5 Best Brokers in Nigeria for you:
RoboForex
IC Markets
Pocket Option
4
EXNESS Group
5
AMarkets
All rating brokers
START TRADING WITH ROBOFOREX
58.42% of retail investor accounts lose money
Editorial Note: We are unable to verify the validity of and publish all reviews, both positive and negative, in accordance with the Users Reviews Policy.
Advantages of trading with OctaFX:
1.Offers proven platforms for trading such as MetaTrader 4, MetaTrader 5.
2.Tight spreads from 0.6 pips and no non-trading commissions from the broker for deposits or withdrawals of funds.
3.Wide trading opportunities including a variety of assets and access to a service for copying trades.
4.Available minimum deposit. To start trading, you need to deposit at least $25 into your account.
5.Execution of more than 97% of orders without slippage.
6.The ability to choose the type of spread (floating or fixed) on MT4 accounts and MT5.
Disadvantages of OctaFX:
1.Limited choice of investment solutions to generate passive income.
2.The list of payment systems changes regularly.
Overall
3.The OctaFX broker has tried to adapt its conditions as much as possible to the various trading strategies used by traders. However, at the moment the company is more focused on active market participants, rather than passive investors.
Is OctaFX Safe?
Trust Score
67
ForexBrokers.com
OctaFX is considered high-risk, with an overall Trust Score of 67 out of 99. OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Learn more about Trust Score.
Investment Products
OctaFX offers fewer than 50 tradeable instruments. By comparison, industry leaders Saxo Bank, IG, and CMC Markets all offer over 10,000 tradeable instruments.
Cryptocurrency: Cryptocurrency trading at OctaFX is available through CFDs, but not available through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents.
The following table summarizes the products available to OctaFX clients.
FEES
OctaFX has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost MetaTrader brokers.
Account types: Any commissions or fees you pay at OctaFX will depend on your chosen account type and the OctaFX entity under which your account is regulated. European clients will choose the broker’s EU entity, whereas international clients are served from OctaFX’s offshore entity in Saint Vincent and The Grenadines (SVG). In the EU, only MT5 is promoted and thus a single account is available, whereas the SVG entity offers accounts for both MT4 and MT5.
Spreads: OctaFX’s spread pricing varies depending on which of its entities regulates your account. For example, its EU entity is slightly better for the EUR/USD pair at 0.5 pips, compared to 0.7 pips for the SVG entity. It’s worth noting that OctaFX did not provide a date range for its average spread data, and thus the values don’t carry as much weight as spreads that have a corresponding date reference. All in all, OctaFX has improved its pricing and appears to keep pace with the lowest-cost MetaTrader brokers, but with no date range available for its average spread claim, we were unable to make an exact comparison.
Mobile trading apps
OctaFX does have a proprietary app for social copy trading (the OctaFX Copytrading app), yet it still trails behind industry leaders such as IG and Saxo Bank. For our top picks among trading apps, read our guide to Best Forex Trading Apps.
Apps overview: Since OctaFX is a MetaTrader-only broker, iOS and Android versions of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) app come standard and are both available for download from the Apple App Store and Google Play store, respectively. OctaFX also offers its proprietary OctaFX Copytrading app for social copy trading – which I was unable to install or test due to geolocational restrictions I encountered on Google Play.
OctaFX MetaTrader 5 trading app watchlistzoom_in OctaFX MetaTrader 5 trading economic calendar eventszoom_in OctaFX MetaTrader 5 trading app forex news headlineszoom_in OctaFX MetaTrader 5 trading app forex news detailszoom_in OctaFX MetaTrader 5 trading app economic calendar event detailzoom_in
Other trading platforms
OctaFX is primarily a MetaTrader broker, offering MetaQuotes Software Corporation’s suite of platforms that include MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Copy trading: OctaFX offers a web interface for copy trading (providers are known as Masters) that connects to its MetaTrader 4 (MT4) platform offering. OctaFX’s copy trading offering has grown, and I found that it merits inclusion alongside the best copy trading brokers – though it still has room to improve.
From over 6,201 systems available on OctaFX’s Copytrading app, 2,432 were found to either break even or achieve profitability in the last three months – about 39% of all strategies. I found the layout useful, although I would like to see more performance statistics that would help traders differentiate from among the Masters (providers of each strategy)
Market research
OctaFX’s market research is well organized and varied in its content. Rather than specializing in any one field, OctaFX provides a wide assortment of content types. However, when compared to research leaders IG, Saxo Bank, and CMC Markets, OctaFX has room to enhance its research offering.
Research overview: OctaFX’s research content lives in its Market Insights section, which features an economic calendar, daily analysis posts, as well as automated technical analysis by way of MetaTrader’s Autochartist plugin. My favorite features were the interest rates tracker, daily and weekly forecast articles, and the economic calendar – which was useful for keeping track of national holidays and global trading hours.
Market news and analysis: OctaFX produces daily articles that cover technical and fundamental analysis across popular trading symbols including forex and CFDs. It also offers its OC LiveTrader series, which consists of video content that is live-streamed on its YouTube channel. The quality of OctaFX’s research material is on par with what you’d typically find with the average broker, but lacks the rich content offered by the best brokers in this category.
OctaFX Education
While OctaFX has improved its educational offering with webinars and live trading session recordings, its educational articles and videos suffer from a lack of variety.
Learning center: OctaFX’s website has a dedicated forex education section with roughly 20 articles for beginners. The OctaFX Youtube channel has archived webinars, and also hosts its Forex Basic Course video series that spans 11 parts.
Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out OctaFX’s educational offering. That being said, there isn’t much educational content for learning how to trade or understand market dynamics. It's worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more.
Room for improvement: OctaFX’s educational offering would benefit from an overall expansion of its articles and videos, and an increase in the range of topics covered. Arranging the educational content by experience level would strengthen its ease-of-use, and balance the overall experience.
Final thoughts
OctaFX offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments. There’s no question – if OctaFX wants to compete with the best MetaTrader brokers, it needs to make improvements in its range of products and its research and education.
Though it has been granted regulatory status in Cyprus, OctaFX’s lack of additional reputable licenses heavily weighs down its Trust Score. Becoming regulated in more jurisdictions – especially tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers.
About OctaFX
Founded in 2011, OctaFX is part of a group of global entities, which include Octa Markets Incorporated (based in Saint Vincent and the Grenadines) and Octa Markets Cyprus Ltd (based in Cyprus).
Is OctaFX a good broker?
OctaFX is an up-and-coming broker that has been in operation for nearly 10 years. Its growth has enabled OctaFX to continue to expand its products and services. Adding additional regulatory licenses in tier-1 jurisdictions would be a step toward winning more client trust.
2023 Review Methodology
At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and detailed forex guides, and we monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.
Read our full explanation and accounting of our research and testing process to learn more about how we test.
ForexBrokers.com 2023 Annual Awards
For the ForexBrokers.com 2023 Annual Awards, brokers were evaluated against ForexBrokers.com’s 8 Primary Categories: Commissions & Fees, Offering of Investments, Platforms & Tools, Mobile Trading Apps, Research, Education, Trust Score, and Overall.
ForexBrokers.com also recognized brokers that demonstrated excellence and innovation with our exclusive Industry Awards. To see the complete list of Industry Award winners (and to learn more about our Annual Awards from our Director of Online Broker Research, Steven Hatzakis), check out our ForexBrokers.com
CFDs are complex instruments that comes with a high risk of losing lots of money rapidly due to leverage. About 74-89% of retail CFD accounts lose money. You considering whether you understand how CFDS works and whether you can afford to take high risk of losing your money.
OctaFX offers a basic, low-cost MetaTrader platform experience alongside its social copy trading platform.
It has made great strides with its pricing options for traders, but stuffers from a limited range of trade able instruments and a lack of variety in its educational content. OctaFX also holds just one regulatory license.
OctaFX Trading Company
The OctaFX Broker has been providing Forex services since 2011. It operates under the CySEC license and provides favourable conditions for Forex traders. At the moment, OctaFX has been chosen by more than 6.6 million clients worldwide as an intermediary to the financial markets, but the broker is focused on the countries of the Asia-Pacific region. OctaFX is popular in Indonesia, Malaysia, Pakistan and other countries. Its services are used by both active traders and passive investors who prefer to copy the successful trading strategies of other market participants. In 2020, Octaywas named The Best CFD broker in the Asia-Pacific region by Capital Finance International, and in 2021, The Best Forex Broker in Asia by Global Banking and Finance Review.
đź’° Account currency: USD, EUR
🚀 Minimum deposit: From USD 25
⚖️ Leverage: Up to 1:500
đź’± Spread: From 0,6 pips
🔧 Instruments: 32 currency pairs, 10 cryptocurrencies, 3 CFDs on energy resources, 10 indices, gold, silver and +150 CFDs on stocks
đź’ą Margin Call / Stop Out: 25%/15%
OctaFX Review
We’ve identified your country as Nigeria NG
Traders Union experts have analyzed all companies providing trading services in your country legally and compiled a rating of the best companies that offer the best working conditions, have reliable reputation and the highest number of positive reviews among traders on our website.
We’ve selected the Top 5 Best Brokers in Nigeria for you:
RoboForex
IC Markets
Pocket Option
4
EXNESS Group
5
AMarkets
All rating brokers
START TRADING WITH ROBOFOREX
58.42% of retail investor accounts lose money
Editorial Note: We are unable to verify the validity of and publish all reviews, both positive and negative, in accordance with the Users Reviews Policy.
Advantages of trading with OctaFX:
1.Offers proven platforms for trading such as MetaTrader 4, MetaTrader 5.
2.Tight spreads from 0.6 pips and no non-trading commissions from the broker for deposits or withdrawals of funds.
3.Wide trading opportunities including a variety of assets and access to a service for copying trades.
4.Available minimum deposit. To start trading, you need to deposit at least $25 into your account.
5.Execution of more than 97% of orders without slippage.
6.The ability to choose the type of spread (floating or fixed) on MT4 accounts and MT5.
Disadvantages of OctaFX:
1.Limited choice of investment solutions to generate passive income.
2.The list of payment systems changes regularly.
Overall
3.The OctaFX broker has tried to adapt its conditions as much as possible to the various trading strategies used by traders. However, at the moment the company is more focused on active market participants, rather than passive investors.
Is OctaFX Safe?
Trust Score
67
ForexBrokers.com
OctaFX is considered high-risk, with an overall Trust Score of 67 out of 99. OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Learn more about Trust Score.
Investment Products
OctaFX offers fewer than 50 tradeable instruments. By comparison, industry leaders Saxo Bank, IG, and CMC Markets all offer over 10,000 tradeable instruments.
Cryptocurrency: Cryptocurrency trading at OctaFX is available through CFDs, but not available through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents.
The following table summarizes the products available to OctaFX clients.
FEES
OctaFX has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost MetaTrader brokers.
Account types: Any commissions or fees you pay at OctaFX will depend on your chosen account type and the OctaFX entity under which your account is regulated. European clients will choose the broker’s EU entity, whereas international clients are served from OctaFX’s offshore entity in Saint Vincent and The Grenadines (SVG). In the EU, only MT5 is promoted and thus a single account is available, whereas the SVG entity offers accounts for both MT4 and MT5.
Spreads: OctaFX’s spread pricing varies depending on which of its entities regulates your account. For example, its EU entity is slightly better for the EUR/USD pair at 0.5 pips, compared to 0.7 pips for the SVG entity. It’s worth noting that OctaFX did not provide a date range for its average spread data, and thus the values don’t carry as much weight as spreads that have a corresponding date reference. All in all, OctaFX has improved its pricing and appears to keep pace with the lowest-cost MetaTrader brokers, but with no date range available for its average spread claim, we were unable to make an exact comparison.
Mobile trading apps
OctaFX does have a proprietary app for social copy trading (the OctaFX Copytrading app), yet it still trails behind industry leaders such as IG and Saxo Bank. For our top picks among trading apps, read our guide to Best Forex Trading Apps.
Apps overview: Since OctaFX is a MetaTrader-only broker, iOS and Android versions of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) app come standard and are both available for download from the Apple App Store and Google Play store, respectively. OctaFX also offers its proprietary OctaFX Copytrading app for social copy trading – which I was unable to install or test due to geolocational restrictions I encountered on Google Play.
OctaFX MetaTrader 5 trading app watchlistzoom_in OctaFX MetaTrader 5 trading economic calendar eventszoom_in OctaFX MetaTrader 5 trading app forex news headlineszoom_in OctaFX MetaTrader 5 trading app forex news detailszoom_in OctaFX MetaTrader 5 trading app economic calendar event detailzoom_in
Other trading platforms
OctaFX is primarily a MetaTrader broker, offering MetaQuotes Software Corporation’s suite of platforms that include MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Copy trading: OctaFX offers a web interface for copy trading (providers are known as Masters) that connects to its MetaTrader 4 (MT4) platform offering. OctaFX’s copy trading offering has grown, and I found that it merits inclusion alongside the best copy trading brokers – though it still has room to improve.
From over 6,201 systems available on OctaFX’s Copytrading app, 2,432 were found to either break even or achieve profitability in the last three months – about 39% of all strategies. I found the layout useful, although I would like to see more performance statistics that would help traders differentiate from among the Masters (providers of each strategy)
Market research
OctaFX’s market research is well organized and varied in its content. Rather than specializing in any one field, OctaFX provides a wide assortment of content types. However, when compared to research leaders IG, Saxo Bank, and CMC Markets, OctaFX has room to enhance its research offering.
Research overview: OctaFX’s research content lives in its Market Insights section, which features an economic calendar, daily analysis posts, as well as automated technical analysis by way of MetaTrader’s Autochartist plugin. My favorite features were the interest rates tracker, daily and weekly forecast articles, and the economic calendar – which was useful for keeping track of national holidays and global trading hours.
Market news and analysis: OctaFX produces daily articles that cover technical and fundamental analysis across popular trading symbols including forex and CFDs. It also offers its OC LiveTrader series, which consists of video content that is live-streamed on its YouTube channel. The quality of OctaFX’s research material is on par with what you’d typically find with the average broker, but lacks the rich content offered by the best brokers in this category.
OctaFX Education
While OctaFX has improved its educational offering with webinars and live trading session recordings, its educational articles and videos suffer from a lack of variety.
Learning center: OctaFX’s website has a dedicated forex education section with roughly 20 articles for beginners. The OctaFX Youtube channel has archived webinars, and also hosts its Forex Basic Course video series that spans 11 parts.
Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out OctaFX’s educational offering. That being said, there isn’t much educational content for learning how to trade or understand market dynamics. It's worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more.
Room for improvement: OctaFX’s educational offering would benefit from an overall expansion of its articles and videos, and an increase in the range of topics covered. Arranging the educational content by experience level would strengthen its ease-of-use, and balance the overall experience.
Final thoughts
OctaFX offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments. There’s no question – if OctaFX wants to compete with the best MetaTrader brokers, it needs to make improvements in its range of products and its research and education.
Though it has been granted regulatory status in Cyprus, OctaFX’s lack of additional reputable licenses heavily weighs down its Trust Score. Becoming regulated in more jurisdictions – especially tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers.
About OctaFX
Founded in 2011, OctaFX is part of a group of global entities, which include Octa Markets Incorporated (based in Saint Vincent and the Grenadines) and Octa Markets Cyprus Ltd (based in Cyprus).
Is OctaFX a good broker?
OctaFX is an up-and-coming broker that has been in operation for nearly 10 years. Its growth has enabled OctaFX to continue to expand its products and services. Adding additional regulatory licenses in tier-1 jurisdictions would be a step toward winning more client trust.
2023 Review Methodology
At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and detailed forex guides, and we monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.
Read our full explanation and accounting of our research and testing process to learn more about how we test.
ForexBrokers.com 2023 Annual Awards
For the ForexBrokers.com 2023 Annual Awards, brokers were evaluated against ForexBrokers.com’s 8 Primary Categories: Commissions & Fees, Offering of Investments, Platforms & Tools, Mobile Trading Apps, Research, Education, Trust Score, and Overall.
ForexBrokers.com also recognized brokers that demonstrated excellence and innovation with our exclusive Industry Awards. To see the complete list of Industry Award winners (and to learn more about our Annual Awards from our Director of Online Broker Research, Steven Hatzakis), check out our ForexBrokers.com
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