Report: A New Era for Forex
Media: Lufthansa Inflight Magazine
Sector: Foreign Exchange Trading
Publication Date: June 2015
The Golden Rules of FX Trading
OctaFX has elevated itself into an enviable position as a respected FX broker. The company highlights that investing in forex offers great opportunities and gives novice traders some valuable advice to get over the learning curve.
Forex is not a way to get rich quickly; it requires time and patience to learn. Once the basics are mastered, it can, however, turn into a profitable investment. This is the message of OctaFX. Financial literacy, says company representative Joanna Archer, is crucial. While traders need to develop an understanding of market fundamentals, the reliability of the broker traders choose to work with is also essential.
Philosophy of Transparency
“We run a transparent business. We believe this creates a better trading environment. Traders see the difference between a reliable broker and a pretty picture almost instantly,” Archer says. Founded in 2011, the firm’s client base is rapidly growing, and OctaFX has just received its licence from the UK’s Financial Conduct Authority (FCA). “We keep clients’ funds segregated, and our IT Department is in charge of providing top-level security for every financial operation our clients perform. Our specialists work to maintain this stability even in times of turmoil and uncertainty in the market. Our top priority remains ensuring that all is secure and stable. By doing everything possible, we also raise the bar for the whole industry.”
OctaFX has been known as a ‘micro-broker’, particularly appealing to beginner traders. The firm values its European presence and seeks to expand it by creating tailor-made products and promotions for their clients. “We have an individual approach towards every trader, and are tweaking our offers to their needs,” Archer explains. Traders highlight that forex can be an intense and stressful undertaking that requires discipline and a strong control of your emotions. Almost every major economic event could affect a currency. “The FX market is fast moving and unpredictable, so the main challenge is to keep track on every significant event on the horizon, as events bring new waves to the market.” In order to succeed in trading, one should also be backed up by the latest technologies. “Five to eight years ago, no one could have imagined earning money while being away from the trading station. Then trading stations were replaced by one computer, and now you can be anywhere and take your trading with you in your pocket.”
While changes in FX markets are difficult to forecast, OctaFX is focusing on creating a better user experience in order to make trading more efficient. “Our execution is instant, and the range of trading instruments is wide. In addition, our personal area is designed to traders’ needs: all the processes run smoothly and all the necessary notifications arrive on time.” OctaFX also provides its traders with the most efficient trading platforms. MetaTrader 4 and cTrader platforms are available in various modes: a person can choose to trade from their PC, along with all modern devices – tablets, mobile phones, even the web-browser, without having to install any software at all. In the competitive forex landscape, excellent customer support is also key to adding value. “Traders will always find help if needed: all questions are answered by qualified operators, assisting traders in terms of verification, deposits and withdrawal processes and other general requests. Our team is a highly motivated group of specialists who enjoy solving even the most complicated issues.” And while forex is a highly gripping sector itself, OctaFX is constantly working on new promotions and contests. “Our competitions run on a newly redesigned contest platform – traders can communicate with each other, earn achievements to add to their profile and have fun winning prizes,” Archer explains.
Nevertheless, FX is a serious business, OctaFX emphasises, not just a form of entertainment. Traders must be aware that they are investing their own money and should avoid getting caught up in the moment, Archer says. Forex brokers range widely from the highly reputable firms handling traders’ accounts honourably to those engaging in questionable pricing and order execution practices. “I can say that OctaFX company ethos is about building a strong reputation and a team to be trusted.”