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OctaFx Trading Application Complete Explanation, Types of Trading and How to Register

By Yama

OctaFx Trading App – therantnation.com. Trading has become a hot topic of discussion in recent years. Trading applications began to appear along with the increasing public interest in investing.

One that is currently being discussed is the OctaFx Trading application. Then how to join? What are its best features? Here’s the full review.

Octafx Trading Application Complete explanation, types of trading and how to register

What is OctaFx Trading App

For those of you who are just about to jump into this world, it’s good to first understand the realm you want to cultivate. Broadly speaking, trading can be said to be similar to the buying and selling process.

There are products that are traded and change ownership at a certain agreed price. In trading, the products traded generally are foreign currencies, stocks, gold, cryptocurrencies, commodities and others.

The basic concept of a trading business is as simple as buying a product when the price is down and selling a product when the market price is up. The transaction process takes place relatively quickly in the world of trading with the aim of getting the maximum possible profit in a short time.

However, like trading law, OctaFx Trading is the same, the bigger the profit target, the higher the risk.

In other words, short-term investing requires good analytical skills to smell the potential gains compared to the risks that follow.

This factor is very important in this very dynamic business world because there is no institution or institution that acts as a guarantor for your investment.

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What are the Types of Trading?

If you are confident enough and happy to face challenges, it’s a good idea to learn about the types of trading and market fluctuations in them before starting.

Gold trading

Unlike ordinary gold trading, gold trading is a short-term transaction “virtual gold“. This means that you do not physically trade gold to buyers, but only in the form of a symbol called XAU.

This unit of gold or XAU is valued in US dollars. Simply put, profit is taken from the difference between buying and selling prices according to fluctuations in the value of the dollar: buy when it goes down and sell when it goes up. You automatically need to pay attention to the movement of gold and dollars in the market at one time.

Stock trading

Buying and selling shares in the realm of trading is different from stock investment. While investing in common stocks relies on profits through long-term stock savings, stock trading involves short-term stock transactions via apps.

The rules of the game are the same as the process of making profits in buying and selling in general. However, it is necessary to pay attention to the potential value of the shares to be traded. If the stock value continues to decline, of course it will lead to even greater losses.

Forex Trading

Forex or foreign exchange in trading is a foreign currency trading transaction. The profit that can be targeted in this trade is the difference in the value of buying and selling foreign exchange rates which fluctuate every certain period of time.

If you are involved in this business, of course you need knowledge of the determinants of fluctuations in foreign currency inflation to predict the right transaction timing.

Forex trading starts with making a deposit to buy a certain currency at the lowest possible price. After that, with foresight and analysis of changes in exchange rates, you can sell them again when the value of your currency is skyrocketing.

OctaFx Trading App as a Mainstay Forex Broker

One of the risks of entering this world is the wrong choice of a broker. Broadly speaking, the broker is a third party in the form of an application for traders that also helps monitor market movements and charts.

If you choose the wrong one, instead of making a profit in a short time, you can actually get caught in a loss.

One of the brokers that can be a mainstay is OctaFx Trading. Carrying STP technology, this application provides direct order distribution services to ECN-type brokers, the best large brokers in the market. OctaFx provides three types of platforms as follows:

MetaTrader 4

The MT4 platform offers traders stability and security in choosing both Forex and CFD (Contract for Difference) positions.

Other features include monitoring price changes, implementing automated trading, and displaying charts and graphs as a tool for identifying market trends.

MetaTrader 5

The MT5 platform has the advantage of a higher back-testing speed than MT4. In addition, MT5 also offers a simultaneous multi-pair testing function. This platform is unique in the form of centralized exchange integration.

cTrader

The cTrader platform is known as a universal trading platform. With this platform, traders are presented with a display of at least 26 self-adjustable charts. You are also supported with 50 chart templates to help build strategic analysis.

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Octafx Trading Application With Complete Explanation, Types Of Trading And How To Register

How to Register an OctaFx Trading Account?

The next question of course is the procedure for registering an OctaFx Trading account before starting trading. Here are the short steps for registration:

  • Download the OctaFx app via the App Store or Play Store.
  • Open the application that has been installed on the phone.
  • You will be asked to login. For the first registrant, select the button “listfirst.
  • After that, fill in the required information and identification forms.
  • Upload the requested personal data file via the application. The files needed for the verification process include a photo of yourself with your KTP and KTP separately, and a bank account book.
  • The next step is to verify the data that has been inputted. This process generally takes about 30 minutes.
  • As part of the further verification process, OctaFx customer service will contact you to confirm your personal data. In this process, you can also ask various questions regarding the use of the OctaFx application.
  • After passing the verification process, your account status will be activated automatically. The next step before starting trading is to deposit into your account. The minimum deposit amount required is 100 USD.
  • For traders who are still going back and forth to start because of deposit problems, the OctaFx Trading application provides a demo account as “practice field” before starting a real game on the free market.

Trading business can be a profitable choice for those of you who are fans of challenges and strategies. However, be careful when playing. A tantalizing treat about getting rich quick via trading can be a weapon for you to eat.

Basically, behind large profits, there will be a risk of loss that is no less large. Keep a close eye on the market and choose a safe broker such as the OctaFx trading application to minimize the risk of loss. Good luck!