OctaFX Deposit Bonus Review
OctaFX is a broker that allows customers to trade in 28 currency pairs, 10 indices, select cryptocurrencies, commodities such as gold and Brent crude oil and more. The company has gathered over a million user accounts and has executed more than 250 million trades. OctaFX operates multinational and currently, reaches customers in 100 countries. Interestingly, the company provides on its website a number depicting the total amount of money paid out as bonuses that are updated live. At the moment of writing, the number stands at $2,436,492. This was achieved through an OctaFX bonus scheme that allows customers to receive up to 50% for free on each deposit. Below we provide the OctaFX bonus review as well as the details on how to obtain it.
How to claim the bonus?
OctaFX 50% bonus can be obtained by the users of all three platforms: MT4, MT5 and cTrader. The first step to getting the OctaFX deposit bonus is opening an account and making a deposit of over $50. Then, the user has a choice to receive up to 50% as a bonus in order to increase the potential profits of his/her trading operations. There are minor differences in terms of how the bonuses work for the MT4 and MT5 platforms and how they work for the users of the cTrader.
For MT4 and MT5 platforms, the verified user can claim 10%, 30% or 50% on each deposit. The bonus is credited to the user’s account and remains locked until the specified volume requirements are met. After the customer meets those requirements the bonus is deducted from MT4/MT5 credit and is deposited in the balance. The volume requirement is simple, the customer simply has to trade the standard lots equalling the bonus amount divided by two in order to be able to withdraw the bonus. “Volume calculation starts from the first bonus and continues consecutively. This means that you can’t withdraw later bonuses before you trade the required volume for the first bonus, and so on. The volume calculation starts from the moment the bonus is requested. The volume of each deposit is calculated separately,” – states the company. There are other details about bonuses that should be considered as well. For example, the bonuses can be cancelled by the client at any time and the withdrawal of client’s own funds after claiming the bonus will also lead to a cancellation of the bonus. These and other details are listed on the company’s website for the user’s convenience.
OctaFX bonus on deposit is also available for the cTrader accounts. In this case, the size of the bonus, as well as the volume requirements, is similar. There is also a distinction between an “active bonus” and a “total bonus”. “Active bonus” is the amount of bonus the customer can use to open positions. This number can’t be more than the account’s unrealized profit & loss + balance. On the other hand, ‘”Total bonus” denotes the total amount of bonus in a client’s account. Total bonus comprises all the bonuses claimed by the client for the trading account,” – clarifies the website.