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Forex trading is becoming increasingly popular worldwide, and every day more traders are looking to join. While the concept has been somewhat taboo in India, regulations are starting to ease and more Indian traders are beginning to emerge. To make it easier for Indian traders to choose the best possible online broker, TU experts have reviewed OctaFx as the best broker in India for 2023.
The path to trading forex in India isn’t always straightforward. When choosing a forex broker, it’s important to consider not only the financial aspects but also the personal fit. Traders Union experts thoroughly reviewed all Forex brokers in India and revealed OctaFX broker as the best from them.
What does it take to become one of the best forex brokers?
With so many forex brokers to choose from, it’s easy to become confused about which is the best option. TU analysts have compiled a list of five traits and qualities to look for in a good forex broker:
● Follow All Licensing and Regulations: Likely, the top quality of a good forex broker is that the company follows forex trading regulations. Unregulated brokers can get themselves, you, and your money into shady situations, all of which you do not need.
● Offers a Demo Account: A good, regulated forex broker should have no problem offering you a trial period or demo account at no risk to you.
● Choice of Account: A good trait of a forex broker is allowing you to choose the type of account best suited for your needs.
● Adequate Customer Service: Having good customer service is a huge asset for a forex broker. Especially for a new trader or someone testing out a new broker, anytime customer service access is a huge perk.
● Ease of Deposits and Withdrawals: Another essential quality is the ease of deposits and withdrawals. You should be able to access your money at any time without any issues.
Before choosing a forex broker, TU advise that you take time researching what it offers and the reviews about it. That’s why TU recommends OctaFX review.
Why OctaFX?
Founded in 2011, OctaFX offers trading on 35 forex pairs, five commodities, ten indices, 30 cryptocurrencies, and 150 stocks. The OctaFX website, translated into Hindi, features two account types and an unlimited demo account.
OctaFX supports the world’s two most popular trading platforms, MT4 and MT5, as well as its new intuitive OctaTrader platform, which may be easier for many beginners to get started with. OctaFX has also launched its own trading app, available on iOS and Android devices, which features seamless integration with your desktop trading account and 24/7 customer service in English, Hindi, and Urdu.
OctaFX’s two account types have some of the lowest trading costs available, with spreads starting at 0.6 pips on the EUR/USD with no commission. Both accounts have a minimum deposit of 100 USD, 1:500 leverage on currency pairs, and a choice between EUR or USD as your account currency. The main difference is that trading stock CFDs is only available on the MT5 platform.
OctaFX features
● Copy-trading available on all accounts
● Constantly updated promotions and bonuses for Indian clients
● Free AutoChartist for traders with a 1000 USD balance
● Islamic trading accounts are available for all platforms and account types.
According to Traders Union expert reviews, OctaFX is a forward-thinking broker committed to providing Indians with a high-quality and flexible trading experience. It is a viable option for both novice and experienced Indian traders.
Disclosure: This is a sponsored post. However, our opinions, reviews, and other editorial content are not influenced by the sponsorship and remain objective.
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