OctaFX Deposit Bonus
One of the clear-cut ways of making traders excited and pleased with the trading experience is to offer them a good bonus. With a promotion, brokers make high-level trading a bit more accessible and lucrative for their clients.
OctaFX is known for its outstanding trading platform on the internet. The vast majority of online reviews talk about how its offerings are true to life and offer great opportunities to the traders. One of their main discussing points is the OctaFX deposit bonus which promises the clients to increase their every deposit by up to half of the initial size.
If you are already intrigued, let’s not waste any of your time anymore and jump right into reviewing this bonus.
A brief review
Unlike other deposit bonuses, the OctaFX deposit bonus is a recurring promotion. This means that no matter how many times you make a deposit on the platform, you’re still eligible for the bonus. We cannot imagine any single trader who wouldn’t be excited about such an offer.
Another great feature of this bonus, as well as the broker itself, is the fact that traders can choose from three different account types on the website. For example, if they want a micro-account with smaller deposits and position sizes, they can choose a MetaTrader 4 account which, as the name suggests, features MT4 trading software.
The more experienced traders can easily go with the Pro account that features MetaTrader 5, or the ECN account that offers cTrader for better flexibility and direct connection with the liquidity providers. And for all three accounts, the 50% bonus is readily available at any time.
On top of that, traders can deposit their money using the most sophisticated platforms existing today. For instance, if they prefer cryptocurrencies, they can use Bitcoin to deposit cash, but if they don’t trust digital tokens, they can always use e-wallets like Skrill or regular credit cards.
How to get the OctaFX Deposit Bonus?
After this brief overview, let’s see how you can participate in this bonus program and increase your deposits, as well as possible profits. The very first thing any trader needs to do is create a Micro, Pro, or ECN account on the platform. While all of those accounts are available for any trader, people must make sure that they are choosing the one most suitable for their needs.
So, after the account is opened, the next thing is to actually make a deposit on the account balance. One of the great things about the OctaFX broker is that it has a very low minimum deposit requirement and certainly more so when considering other brokers’ requirements.
Traders can deposit as low as $50 on their trading account, whereas other brokers demand hundreds, even thousands of dollars to be transferred. This is a great feature for beginner traders who want to minimize risks and maximize profits. And as mentioned earlier, traders can use credit cards, as well as e-wallets and even cryptocurrencies to make the actual deposit.
And that’s pretty much it: once you’ve opened up an account on OctaFX and made your first deposit, you’re already eligible for the 50% deposit bonus that will greatly improve your trading outcomes.
How to actually use the bonus with a margin?
Next up, let’s discuss how you can use the OctaFX 50% deposit bonus in real life and how you can incorporate additional features to make your positions even more lucrative. To illustrate this point more clearly, let’s use an example:
Let’s say you want to open the Pro account on OctaFX. The minimum deposit amount necessary for it is $500. So, you’ve deposited the cash and are ready to start trading right away. For the sake of this example, let’s first assume that you didn’t claim any bonus and proceeded without any promotions.
Now, say that you want to trade the EUR/USD currency pair. As the broker mentions, traders can use the leverage up to 1:200 for the Forex pairs, therefore, you can use your $500 and turn it into a $100,000 trading position. Right away, you can see that your chances of getting a higher profit have increased quite a lot – 200 times, actually.
Now, let’s say that you did choose to enroll in the bonus system. As we’ve discussed above, you’re already eligible for a deposit bonus program where you can choose a bonus from 10% up to 50%. For this example, let’s say you chose 50% and received $250 more on your account.
So, the leverage will be applied not to the $500 initial deposit but to $750 which, in this case, will become $150,000. As you can see, now you can get 300 times more profit than your initial position, and 1.5 times more than the one with the leverage but no bonus.
All of that applies to the real-world results. For instance, if you were to gain 10 pips as a profit, the first non-bonus option would yield $100 of profit. But if you chose the 50% bonus, then your profit would reach $150. You can decide for yourself which one is better.
How to withdraw the bonus money?
It seems that the benefits with the OctaFX bonus don’t stop. This next point is about the ability to actually withdraw the bonus funds. Now, while you can certainly do that, there are some requirements that you need to fulfill first.
Here’s the thing: when you receive the 50% bonus – or whatever your choice is – the broker will set a certain traded volume that you’ll need to reach before being able to actually withdraw the bonus funds.
Here’s how it works: when you deposited that $500 on your account and received a $250 bonus, that amount automatically set you a minimum traded limit of 125 lots that you need to complete. The calculation is pretty straight-forward: the bonus amount in USD must be divided by 2 and you’ll get your required volume.
So, basically you need to keep trading and not rendering your account inactive if you want to actually withdraw the bonus money. But still, even with this requirement present, the OctaFX deposit bonus is way more beneficial than other bonuses because it allows you to really take that money and not have it locked on a virtual account.
Some additional benefits
Now that we’ve discussed all the main benefits of this bonus, let’s discuss some of the smaller ones that are also pretty advantageous. The first one is the ability to actually choose the amount of bonus that you want to apply to your deposits. You can choose from 10% all the way up to 50% bonus which can definitely prove useful on some occasions.
Another benefit is the ability to choose when to apply the bonus: at any time of the trading can you use the OctaFX deposit bonus to increase your trading outcomes. On top of that, you’re also able to cancel the bonus at any time. But you need to keep in mind that the bonus amount will be deducted from your margin fee in its entirety.
OctaFX deposit bonus – a roundup
So, what’s the bottom line of this OctaFX bonus review? Does it hold up against some of the most competitive deposit bonuses on the market? We think that yes, it certainly does and even offers some of the better options. For starters, the bonus adds an additional half to your initial deposits and increase your prospective profits.
Not only that, you can apply for this bonus as many times as you want. As long as you meet the certain requirements listed above, you’ll be able to increase your deposits every single time. And with the help of margin trading, even larger profits will come flying to your account balance – that’s, of course, if your trades are successful.
All in all, the OctaFX deposit bonus is a very good promotion and is certainly worth trying out!