Foreign-exchange markets have always been known for their volatility, but this year has seen some of the biggest market swings for some time. Back in January, the Swiss franc’s value skyrocketed by more 30 percent, and ongoing EU-US sanctions against Russia have helped turn an already struggling economy into one on the brink of collapse, with the Russian rouble weakening by as much as 40 percent against the dollar. Meanwhile, the euro is alarmingly close to parity with the dollar, with many analysts believing it could break below par if more is not done to salvage the economies of Europe from economic turmoil. But, while this volatility makes markets notoriously dangerous, it is in these vast swings that fortunes are won and lost. Such high stakes have attracted many, but for a long time the forex market has been reserved for more experienced traders, with retail investors deterred by its unpredictability.
Adding to this volatility and popularity is the fact that forex markets are tradable 24 hours a day, five days a week. This is made possible by exchanges from Wellington to Tokyo and London to New York all taking their turn to allow trading. The non-stop nature of forex helps increase liquidity for traders, as they don’t have to wait until the following morning to open or close a position. This 24-hour structure also allows investors to have a better idea of where the market is at any given time, with price gapping far less common in forex than in other financial markets. High rates of liquidity are essential in offsetting the downside when volatility causes the market to turn sour.
Luckily for those attracted to trading forex, accessing it now couldn’t be easier
Luckily for those attracted to trading forex, accessing it now couldn’t be easier. Due to state-of-the-art technologies being embraced by the financial services sector, along with more and more exchanges transitioning to trading screens, financial markets are far less imposing these days, with retail investors now armed with the power and confidence to open their own accounts. Technology has also helped forex brokers go digital, providing a great platform for would-be investors looking to take their first steps in the dynamic, ever-changing market.
Indeed, 50 years ago forex trading was something beyond the average person’s comprehension, but now it is perceived as a source of income for millions of people around the world. It changed from institutional to retail, and it is slowly moving into mass consumption, as the complex influences of modern life continue to shape the world we live in.
A key player
OctaFX was established four years ago by a group of people who dreamed of creating a forex broker that boasted transparent, high-quality services. They have now realised that dream and, in doing so, have managed to cultivate a company that functions to serve its clients and ensure that they have an advantage in the market. The team achieves this by identifying individuals’ proficiencies and tailoring services accordingly. The firm’s first strapline was ‘let the traders trade and we will take care of everything else’, and this is what has led the company to where it is now.
With this in mind, OctaFX has started as it means to go on. Today, the forex broker tries to ensure that each and every client is offered the guidance they need, so they have the most positive, profitable trading experience available to them. Not only do the team have experts on-hand to offer advice should retail investors require it, but the technology at the heart of business gives traders an edge over others in the market.
For example, OctaFX works with a number of different liquidity providers from around the world to give its clients greater flexibility when trading in and out of positions. This is accomplished by sending client orders to these providers for execution. It also provides customers with a choice of two accounts: Micro and ECN. Both account types give investors access to the MetaTrader 4 trading platform and all the support services the broker has to offer, but Micro has a minimum deposit of $5 and has an order volume limit in place in order to protect novice investors from losing too much money. The firm even offers new entrants the ability to hone their skills using a demo account, currently offering a $1,000 prize for whoever is able to make the biggest profit.
Doing things differently
Competition in this highly volatile market is fierce. In order to stay ahead of competitors, OctaFX has worked tirelessly to improve and alter its business model. Geographically, the firm has expanded its client base to over 100 countries across the globe, with major markets in the APAC region, and is now slowly building up its presence in Europe. Technically, some effective solutions for traders have been introduced, including expanded payment options, trading platforms, and a qualified customer support department.
The team has also worked hard to create a strong image of a reliable and fair forex broker by being transparent and always being open to clients’ suggestions and needs. Hence, OctaFX takes considerable pride in its partnerships and involvement with numerous charities, as they exemplify the type of attitude the firm has fostered. As an example, the forex broker has worked extensively with a disabled sports charity in Indonesia, which not only gives the company the opportunity to give back to the wider community, but has helped to raise awareness of the firm in the country.
More recently, OctaFX signed a partnership deal with Premier League side Southampton FC. The football club has grown to become one of the most prominent teams in the country and shares many of the forex broker’s values, including hard work, dedication and an aspiration to achieve greatness. One thing is for certain; they both understand what it feels like to be a leader in their respective fields.
The partnership is not just about values and a sign of how far the global broker has come in such a short space of time. It is about OctaFX standing behind its commitment to open forex up to an entirely new audience in Europe that may otherwise not exist, and to attract even more people to its platform.
Safety and security
For many in the market, forex brokers are perceived as rather archaic entities, overly complex, faceless, and eager to set their own rules. OctaFX, however, is focused on changing that, and it appears the firm has a business model capable of doing so. One way it is attempting to win over critics is by working more closely with its clients. The broker wants its customers to view it as a partner that they can rely on – a helping hand, making sure their investment choices are safe. The range of different accounts allows traders to diversify. With a minimum deposit, a trader can try out ECN trading conditions, but with the peace of mind that their risk remains minimal.
When it comes to real trading, negative balance protection ensures OctaFX clients’ losses are never able to exceed their deposits, and if a client’s account balance manages to make it into the red, he or she is not liable – meaning the broker will credit the account, returning the balance to zero. In a market as volatile as forex, such safeguards offer priceless peace of mind.