Hashtag
Men's Weekly

Octa: 5 pitfalls to avoid when choosing a financial broker

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 16 July 2024 - When deciding which broker to trade with, there are several caveats to consider. A good broker is hard to find, especially if you are an emerging trader who has yet to become knowledgeable in the intricacies of the financial markets. However, some time-proven rules allow you to manage the risks and make this decision confidently. In this article, the experts at Octa, an experienced broker operating across the globe, list five notorious pitfalls to avoid when choosing a broker and offer their advice to help you make the right choice.

5 pitfalls to avoid when choosing a financial broker

1. Insufficient time on the market

It stands to reason that any business that has been operating in a market for a number of years has a lot to say in its favour. Complying with the requirements of local authorities, successfully interacting with its clients, and ensuring legitimate profitability year after year are all signs of a stable and trustworthy broker. If you put your faith in a broker that meets these criteria, you can rest assured that it will stay on the regional market for a while, leaving you high and dry and unable to withdraw your well-earned profits.

2. Inadequate security
Data drive the modern world, and keeping your personal information under lock and key is crucial for individuals and organisations. Any data breach can result in identity theft and financial losses for clients, and financial brokers that handle sensitive personal and financial information must have robust security measures.

It is worth noting that when it comes to security, global brokers have the upper hand over local ones since they comply with the security regulations in all regions of operation. Exposure to a broad scope of challenges significantly strengthens global brokers' overall resistance to potential attacks and makes them more flexible when adjusting their security stance to the current risk landscape. Such brokers are well-versed in international best practices since it's the only way to stay afloat in this ever-changing and perilous environment.

Another important aspect to remember is the security of clients' funds. Before depositing your capital, you want to ensure the broker can safeguard it against risks and has the necessary mechanisms in place. For example, experts consider it a universal good practice for a financial broker to have a segregated bank account where client funds are deducted from operational capital.

3. Hidden fees and costs
In the investment and trading field, transparency is king. Brokers might advertise low commissions but have hidden withdrawals, inactivity, or data access fees. Adding up, these undisclosed costs can significantly eat into your profits. Check the broker's clients' reviews before committing to large deposits, and make sure your broker keeps true to its declared policies every step of the way.

What is more, you need to be aware of the size of spreads when choosing a financial broker. Simply put, the lower the spreads, the higher your gains. Over time, high spreads will inevitably accumulate and make it an uphill battle for you to keep your trading outcomes consistently positive. Conversely, low spreads allow you to take home what you earned and not pay more for brokerage services than is due.

4. Poor customer support
Competent and responsive customer support is one of the best indicators of a reputable and reliable broker. Ideally, you want your broker's customer support to operate around the clock—you never know when their help or advice might come in handy. If you encounter issues or have questions, poor customer support can result in significant delays in resolving problems, potentially leading to financial losses.

5. Lack of educational capabilities
Trading requires continuous learning, analysis, and skill improvement. Any experienced, client-centred broker is well aware of this fact. For this reason, you want to choose a broker that offers its clients a wide range of educational materials and promotes learning as a critical part of the trading journey.

On its part, Octa actively engages in bringing financial knowledge to its clients. The broker's proprietary trading platform, OctaTrader, has recently introduced an education and analysis hub seamlessly integrated into the solution's interface. This flexible toolkit facilitates fast and data-driven decision-making by offering a customisable feed of expert-curated content tailored to your trading style and asset preferences.

Conduct thorough due diligence when choosing a financial broker. Look for a global presence and sufficient experience, a transparent fee structure, reliable platforms, strong customer support, and robust security measures. Reading reviews, comparing multiple brokers, and starting with small investments can greatly help mitigate the risks and successfully navigate the trading landscape.
Hashtag: #Octa

The issuer is solely responsible for the content of this announcement.

Octa

is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services already utilised by clients from 180 countries who have opened more than 42 million trading accounts. Free educational webinars, articles, and analytical tools they provide help clients reach their investment goals.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.
In the APAC region, Octa received the ‘Best Forex Broker Malaysia 2022’ and the ‘Most Reliable Broker Asia 2023’ awards from Global Banking and Finance Review and International Global Forex Awards, respectively.

Business News

Tenchijin Named Finalist for IVS2025 LAUNCHPAD

Exhibiting at IVS Startup Market to Showcase Advanced Water DX Solutions TOKYO, JAPAN - Media OutReach Newswire - 30 June 2025 - Tenchijin Inc...

Hashtag.net.au - avatar Hashtag.net.au

ESET and Canon Extends Regional Alliance to Combat Asia’s Security Challenges

SINGAPORE - Media OutReach Newswire - 30 June 2025 – ESET Asia Pte. Ltd. ("ESET"), a global leader in cybersecurity, and Canon Singapore Pte. Ltd. ("Canon") today announced the signing of a Memorandu...

Hashtag.net.au - avatar Hashtag.net.au

Counterfeit and Refurbished Transducers Pose Serious Safety Risks

Merz Aesthetics® Hong Kong Launches Ultherapy® Authenticity Verification Reward Program This August Consumers Urged to Verify Ultherapy® Transducers Authenticity for Safe and Effective Treatments HONG...

Hashtag.net.au - avatar Hashtag.net.au

Porsche Design Tower Bangkok and Curvistan Bangkok Host an Exclusive Preview of the "Electrifying Past. Present. Future." Exhibition

BANGKOK, THAILAND - Media OutReach Newswire - 28 April 2025 - Porsche Design Tower Bangkok showcased its commitment to innovation by hosting an exclusive evening reception with Curvistan Bangkok, a p...

Hashtag.net.au - avatar Hashtag.net.au

Hong Kong: Bridging Business Opportunities under the Belt and Road Initiative

HONG KONG SAR - Media OutReach Newswire - 30 June 2025 - As a global trade and financial centre and a key link in the Belt and Road Initiative (B&RI), Hong Kong plays a pivotal role in connecting...

Hashtag.net.au - avatar Hashtag.net.au

Octa Black: Octa broker's premium trading experience

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 1 July 2025 - Octa, a globally regulated and trusted broker since 2011, rewards its high-value clients in Indonesia, Malaysia, and Nigeria with an e...

Hashtag.net.au - avatar Hashtag.net.au

Health & Wellness

Telehealth Could be the Catalyst for Better Heart Health in Australia

Hashtag.net.au - avatar Hashtag.net.au

Image by stockking on Freepik Heart disease is one of the leading causes of death in Australia despite decades of advancements in medicine and health education campaigns. More than 400 Australians ...

Disability Care in Melbourne: What Families Need to Know in 2025

Hashtag.net.au - avatar Hashtag.net.au

If you’re supporting a loved one with a disability in Melbourne, you’ll know how important it is to find the right care—and how overwhelming it can be to navigate the system. With the National Disab...

Online Medical Certificate Services: Essential Features to Look Out For

Hashtag.net.au - avatar Hashtag.net.au

"Discover top online medical certificate services! Essential features to look for to get trusted and efficient results." Choosing high-quality services is essential for ensuring reliable, efficient, ...