OQtima Review
OQtima was launched in Limassol, Cyprus in 2021 and like most Forex brokers, the platform is regulated in the country by the Cyprus Securities and Exchange Commission (CySEC).
The CFD broker is also regulated in Seychelles by the Financial Services Authority (FSA) as a securities dealer.
Currently, is one of the best trading platforms in terms of financial products availability. The CFD trading service offers over 1,000 financial products that enable users to trade CFDs, indices, shares, cryptocurrency, energies, metals, foreign exchange, and ETFs.
Within its array of offerings, this OQtima review spotlights impressive variety: more than 77 forex pairs, 45+ cryptocurrencies, 20 indices, 3 energy commodities, 91 shares, 3 precious metals, and over 100 ETFs.
Users also have access to services like negative balance protection for retail clients and low trading fees with spreads starting from 0.0 pips.
- Forex Platform: MetaTrader 4
- Head Office: Limassol, Cyprus
- Negative Balance Protection: Yes
- Founded: 2021
- Execution Servers: Multiple servers located globally
- ECN Forex Trading: Yes
- Broker Type: Forex trading and CFD trading
- Spreads: From 0.0 pips to 2.09 pips
- Tradable Instruments: Forex CFD, Crypto CFD, Commodities CFD, +More
- Maximum Leverage: 1:1000
- Initial Minimum Deposit: $20
- Cuts Out Dealing Desk: Yes
- Deposit/Withdraw Methods: Revolut, Neteller, Skrill, credit card (Visa and MasterCard), debit card (Visa and MasterCard), Wise, and Bank transfer
- Welcome Offer: No
Our Opinion
OQtima is a CFD trading and forex broker that stands out for its fast execution speeds (less than 30 ms), low trading fees starting from 0.0 pips in spreads, and a large selection of tradable products (more than 1,000). It also supports popular CFD trading platforms like MetaTrader 4.
In general, OQtima is an easy-to-use CFD trading platform with little to no barrier to entry (minimum deposit amount of $20) and an ample selection of financial products.
Oqtima Review Rating: 9/10
Trading Conditions
| Max Leverage: | 1000:1 |
| Platform: |    |
| Min Deposit: | $20 |
| Spread: | From 0.0 Pips |
| Cuts out Dealing Desk: | Yes |
IS OQTIMA SAFE?
OQtima Global is a fully licensed firm that complies with all domestic and international regulations and laws applicable to investment firms.
The broker complies with the Securities Act and the Securities (Conduct of Business) Regulations.
It also has policies and procedures in place to ensure compliance with the FSA Anti-Money Laundering and Counter-Terrorism Financial Act to prevent users from laundering money through the platform.
OQtima customer funds are held in client-segregated accounts with top-tier banking institutions in Australia and the United Kingdom.
The platform conducts regular assessments of its security policies and procedures to ensure that client’s funds are protected.
It is also subject to regular internal and external audits to ensure compliance with regulations protecting clients’ funds.
OQtima does not hold customers’ funds together with its funds. The broker also does not invest users’ funds or use them for any trading purpose aside from facilitating customers’ trades on the platform.
As already stated, OQtima complies with Anti-Money Laundering regulations, which means the platform requires KYC. Users are not allowed to trade on the platform until they have completed the account verification.
All personal and sensitive client information collected for account verification is protected against modification, unauthorized access, and misuse.
Client information is not revealed to any third party except at the request of the client or it is required by law to do so.
OQtima has several security measures in place to ensure that the trading environment and users’ funds are secure. This includes the use of Virtual Private Networks, virus scanning tools, encryption, and firewalls to prevent unauthorized persons and viruses from gaining access to the system.
The platform also has offline measures in place to ensure the physical security of data. This includes the use of physical and electronic means like alarms, cameras, and guards to prevent unauthorized access to its facilities and also the provision of secure storage for physical records.
CFD traders are protected with Negative Balance Protection. This means that they cannot lose more than they invest.
Asides from password protection, Users can also protect their accounts with two-factor authentication.
OQtima supports Google Authenticator for both Android and iOS devices.
Security and Licenses held by OQtima
OQtima is authorized to operate under its releted entity OQtima Global that is also a Securities Dealer registered in Seychelles.
Like most CFD brokers, It is regulated and licensed by the Financial Services Authority(FSA) with Licence Number SD109. It is also licensed by the Cyprus Securities and Exchange Commission with license number 406/21.
Forex and Other Trading Offerings
OQtima CFD broker supports a wide range of trading offerings including Forex, ETFs, Indices, Shares, Metals, Energies, and Cryptocurrency.
Forex
OQtima offers 80 currency pairs with deep liquidity from tier 1 providers and up to 1:1000 leverage.
The available currency pairs include 7 major currency pairs, 52 exotic currency pairs, and 21 minor currency pairs. Micros lots are supported as well as no requotes and restrictions.
OQtima CFD broker offers fast and stable execution for Forex trades and deep liquidity from tier-one providers at competitive spreads from 0.0 pips.
Major forex pairs offered include:
- EUR/USD
- USD/JPY
- GBP/USD
- AUD/USD
- USD/CHF
- EUR/GBP
- EUR/JPY
- AUD/JPY
- GBP/CAD
- GBP/JPY
- USD/CAD
- NZD/USD
Like most trading platforms, OQtima supports several strategies for trading Forex CFDs, including common strategies like mean reversion, trend following, and news trading.
The supported CFD trading platform for CFD traders is MetaTrader 4.
Indices
OQtima is one of the best CFD brokers with the largest selection of active indices products in the CFD trading industry to trade long or short.
The CFD broker supports over 20 stock indices including FTSE 100, China 50, NIKKEI, S&P 500, USIDX, NETH25, US2000, VIX, US500, TW88, US30, NAS100, EUSTX50, HK50, UK100, GER40, FRA40, AUS200, etc.
Also, unlike most best CFD brokers, OQtima does not place restrictions on the strategies for trading indices.
Metals
OQtima supports the trading of 3 precious metals CFDs Gold, silver, and Palladium with spreads as low as 0.0 pips. These metals can be traded against major currencies.
This includes XPDUSD, XPTUSD, XAGUSD, XAUUSD, XAGEUR, XAUEUR, etc
Metal CFDs are financial derivatives that allow forex traders to speculate on the price movement of metals without owning the underlying asset. OQtima does not support the delivery of the metal being traded.
All metals on OQtima retail CFD accounts are traded with their internationally recognized 3-letter codes. Below are the codes for the 3 available precious metals on OQtima:
- Silver – XAG
- Gold – XAU
- Platinum – XPT
As with other forex brokers, the price of metal CFDs can be influenced by several factors including supply and demand, global economic conditions, changes in currency values, and political events.
Shares
OQtima retail CFD accounts offer 91 share CFDs. This includes popular shares like Apple, Netflix, Meta, Tesla, etc.
CFD traders can trade long and short with leverage up to 1:1000 on the MT4 trading platform.
OQtima offers traders access to advanced charting options, market insights, and lots of helpful tools for profitable share CFDs trading.
It also offers deep liquidity during high volatility with zero commissions and ultra-tight spreads.
OQtima does not put a limit on your shares CFD trades. It allows you to hold your trading position for as long as you want provided you have enough margin to cover your trade.
That said, the platform charges rollover fees or swaps for trades kept open overnight and for shares that remain open until market closing for the relevant stock.
The swap rate or rollover fee is displayed as a percentage per annum on your account. OQtima uses the formula below to calculate your swap rate for overnight shares trading for retail CFD accounts
Market Price (*EOD) X Trade size in lots X Swap rate / 100 / 360 = Swap charge per night in USD *EOD = End of Day
You can manage risk when trading Shares CFDs on the platform by limiting your position size to avoid over-leveraging your trades or you can use stop loss orders to automatically close your position if the price moves against you.
Energies
OQtima allows you to speculate on the price movements of 3 energy Commodities – Brent Crude, WTI Crude, and Natural Gas.
You can trade long or short with no restrictions.
The platform does not charge any extra commission fees when opening or closing positions on Energies. The only cost of the trade is the spread. Depending on the trade size, the spread can be calculated in real-time.
You can trade CFDs in Energies, which means you only need to deposit a small percentage of the full value of the trade. This gives you a larger position size than your capital would otherwise allow.
ETFs CFDs
OQtima offers over 100 multiple-sector and country-based ETFs. This includes the best Vanguard Selected ETFs and Schwab Small Cap Selections in the United States.
You can choose which ETF underlying asset you wish to trade based on your interest in a specific market/sector or various countries’ top, mid, and lower performers.
The platform offers deep liquidity and competitive spreads. It supports all trading strategies for ETFs CFDs on the MT4 platform.
Note: ETFs are not the same as indices even though both track a basket of underlying assets. With indices, there are only a specific number of companies included but with ETFs, you can track a wide range of stocks or commodities all under one EFT.
ETFs can contain different types of investments including energy, bonds, commodities, or stocks.
Supported ETFs include Stock ETFs, Commodity ETFs, Sector/Industry ETFs, Bond ETFs, Currency ETFs and other Exchange Traded Products.
Just like other products in OQtima, ETFs are offered as CFDs, this means you do not physically own the assets within the ETF.
However, if you buy Stock ETFs, you will be paid dividends in the same way they are paid for stocks.
There is no expiry date on ETFs. OQtima internally handles the rollover for all futures-based ETFs.
Cryptocurrencies
OQtima offers crypto trading via CFDs. This means you do not own the underlying asset being traded. The platform supports the trading of over 45 crypto pairs.
Supported crypto assets include Bitcoin, Ethereum, XRP, Chainlink, Uniswap, Bitcoin Cash, Avalanche, Cardano, Dogecoin, Shiba Inu, EOS, Polygon, Polkadot, etc.
There are no restrictions and requotes on crypto CFD trading on the platform.
Each cryptocurrency available on OQtima has its asset code and can be pegged to a currency of your choice. All cryptocurrencies are available to trade against USD, GBP, and EUR.
You do not need a digital wallet to trade cryptocurrencies on OQtima. You can access all available cryptocurrencies on the platform directly from your account.
You can also fund your crypto CFD trading account using any of the supported payment methods without having to buy the cryptocurrency.
Fees and Spreads
OQtima’s ECN+ environment enables the CFD broker to aggregate numerous pricing providers including top-tier financial institutions and banks to offer some of the most competitive quotes with low spreads and trading costs in the industry.
That said, below are the spreads charged for different tradable products available on the CFD broker. These spreads differ based on the account of the user.
Spreads
Forex
AUDUSD
ECN+ Account
Min: 0.00
Avg: 0.14
OQtima One Account
Min: 1.00
Avg: 1.14
Buy/Sell
Bid: 0.65209
Ask: 0.65211
EURJPY
ECN+ Account
Min: 0.00
Avg: 0.80
OQtima One Account
Min: 1.00
Avg: 1.80
Buy/Sell
Bid: 159.072
Ask: 159.079
EURUSD
ECN+ Account
Min: 0.00
Avg: 0.12
OQtima Account
Min: 1.00
Avg: 1.12
Buy/Sell
Bid: 1.1
Ask: 1.10002
GBPCAD
ECN+ Account
Min: 0.00
Avg: 2.09
OQtima One Account
Min: 1.00
Avg: 3.09
Buy/Sell
Bid: 1.70815
Ask: 1.70819
GBPJPY
ECN+ Account
Min: 0.00
Avg: 1.61
OQtima One Account
Min: 1.00
Avg: 2.61
Buy/Sell
Bid: 183.726
Ask: 183.736
GBPUSD
ECN+ Account
Min: 0.00
Avg: 0.36
OQtima One Account
Min: 1.00
Avg: 1.36
Buy/Sell
Bid: 1.27049
Ask: 1.27052
GBPUSD
ECN+ Account
Min: 0.00
Avg: 0.60
OQtima One Account
Min: 1.00
Avg: 1.60
Buy/Sell
Bid: 0.87697
Ask: 0.87701
NZDUSD
ECN+ Account
Min: 0.00
Avg: 0.40
OQtima One Account
Min: 1.00
Avg: 1.40
Buy/Sell
Bid: 0.60117
Ask: 0.60121
Indices
USIDX
ECN+ Account
Min: 0.02
Avg: 0.03
OQtima One Account
Min: 1.02
Avg: 1.03
Buy/Sell
Bid: 102.554
Ask: 102.568
USIDX
ECN+ Account
Min: 0.08
Avg: 0.30
OQtima One Account
Min: 1.08
Avg: 1.30
Buy/Sell
Bid: 1923.46
Ask: 1923.74
USIDX
ECN+ Account
Min: 0.08
Avg: 0.30
OQtima One Account
Min: 1.08
Avg: 1.30
Buy/Sell
Bid: 1923.46
Ask: 1923.74
TW88
ECN+ Account
Min: 0.09
Avg: 0.40
OQtima One Account
Min: 1.09
Avg: 1.40
Buy/Sell
Bid: 1439.44
Ask: 1439.77
VIX
ECN+ Account
Min: 0.09
Avg: 0.40
OQtima One Account
Min: 1.09
Avg: 1.40
Buy/Sell
Bid: 15.72
Ask: 15.79
NETH25
ECN+ Account
Min: 0.30
Avg: 0.40
OQtima One Account
Min: 1.30
Avg: 1.40
Buy/Sell
Bid: 768.13
Ask: 768.25
FRA40
ECN+ Account
Min: 2.00
Avg: 3.10
OQtima One Account
Min: 3.00
Avg: 4.10
Buy/Sell
Bid: 7374
Ask: 7375
UK100
ECN+ Account
Min: 2.00
Avg: 2.60
OQtima One Account
Min: 3.00
Avg: 3.60
Buy/Sell
Bid: 7542
Ask: 7543
Metals
XAGUSD
ECN+ Account
Min: 0.20
Avg: 1.05
OQtima One Account
Min: 1.20
Avg: 2.05
Buy/Sell
Bid: 22.748
Ask: 22.754
XAGEUR
ECN+ Account
Min: 0.50
Avg: 0.50
OQtima One Account
Min: 1.50
Avg: 1.50
Buy/Sell
Bid: 20.689
Ask: 20.694
XAUEUR
ECN+ Account
Min: 0.50
Avg: 0.50
OQtima One Account
Min: 1.50
Avg: 1.50
Buy/Sell
Bid: 1745.35
Ask: 1745.4
XAUUSD
ECN+ Account
Min: 0.70
Avg: 0.79
OQtima One Account
Min: 1.70
Avg: 1.79
Buy/Sell
Bid: 1919.1
Ask: 1919.2
XPTUSD
ECN+ Account
Min: 7.10
Avg: 32.10
OQtima One Account
Min: 8.10
Avg: 33.10
Buy/Sell
Bid: 916.64
Ask: 920.77
OQtima charges the following commissions based on the trading account currency per 1 in FX (100,000 Base Currency):
- USD: $3.00 Per Lot Traded ($6 Round Turn)
- EUR: €3.00 Per Lot Traded (€6 Round Turn)
- GBP: £2.50 Per Lot Traded (£5 Round Turn)
- CHF: ₣3.00 Per Lot Traded (₣ 6 Round Turn)
- SGD: S$3.5 Per Lot Traded (S$ 7 Round Turn)
- JPY: ¥450 Per Lot Traded (¥900 Round Turn)
- CAD: Can$ 4.00 Per Lot Traded (Can$ 8 Per Round Turn)
- ZAR: R 60 Per Lot Traded (R 120 Per Round Turn)
The broker for trading CFDs only charges commissions in its ECN+ OQtima account. The OQtima One account is commission-free.
Swap Fees
Swap, also known as rollover fees, is charged to CFD trades that are kept open overnight. For shares, swap fees apply at the time of market closing for a particular stock.
The swap fee is defined as it is based on several factors. However, to know what you’ll be paying you can calculate the fee using the following formula:
Market Price (*EOD) X Trade size in lots X Swap rate / 100 / 360 = Swap charge per night in USD.
Deposit and Withdrawal Fees
OQtima is arguably one of the best CFD brokers when it comes to trading fees. The trading platform does not charge deposit fees or withdrawal fees on all available payment methods.
Payment/Withdrawal Methods
OQtima supports a wide range of payment methods including credit and debit cards, Wise, Revolut, Neteller, Skrill, and Bank transfer.
Withdrawals are facilitated via the same method used to fund your account for trading CFDs.
OQtima facilitates instant deposits for credit/debit cards, Wise, Skrill, Neteller, and Revolut. Bank transfer takes between 1 to 3 days to reflect in your trading account.
The minimum deposit is 20$ and unlike most CFD trading platforms, OQtima does not charge deposit or withdrawal fees.
Also, all withdrawals are processed on the same day, except bank transfers, which take between 1 to 3 days.
Trading Platforms Desktop and Mobile
OQtima supports MetaTrader 4 for trading CFDs, also MetaTrader 5 is available for European users and they are launching cTrader for the Global audience in the near future.
Users can access the trading platforms from iOS, Android, and Windows devices.
They are available on smartphones and tablets as well.
Supported features of the MetaTrader 4 platform include:
- Available plugins and tools to enhance your trade
- Back-testing features for EA users and builders
- Automated Trading
- MQL4 to run EA
- 350 symbols to trade
- 7 assets class supported
- Micro Lot trading available
- Charting tools supported
Other Features
OQtima Demo Account
OQtima offers a demo platform for CFD traders who want to explore trading software or test trading strategies before trading with actual funds. The demo account is suitable for both beginner traders and professional traders.
The platform offers 2 types of retail CFD accounts in the demo mode – Demo ECN+ and Demo One.
Each of these retail CFD accounts has an initial balance of EUR 1,000.
The demo accounts offer leverage up to 1:1000. They also support other currencies like USD, ZAR, CAD, GBP, CHF, JPY, and SGD.
OQtima One demo offers spreads from 1.0 pips and no commissions.
The Demo ECN+ account offers spreads from 0.0 pips and a $3.40 commission per lot, per side.
As with other CFD brokers, the OQtima demo account simulates the live market movements. This allows you to get a feel of the actual market without risking money.
Trading in the demo account is done with virtual funds. This means that the profit made on the demo account cannot be withdrawn. Also, any loss or profit in the demo account does not reflect in the live retail CFD accounts.
Like most trading platforms, OQtima allows you to own both a live account and a demo account simultaneously. This allows you to switch between both accounts whenever you wish. You can test your strategies in the demo account before executing them in the live account with just a few clicks.
Countries Where OQtima is Available
OQtima is a global forex broker and is available in over 100 countries. Supported countries include Australia, Cyprus, the United Kingdom, Nigeria, South Africa, Germany, France, etc.
Like other forex brokers, OQtima is not available to residents of any country or jurisdiction where its services are prohibited by local laws and regulations.
Restricted countries include the United States of America, Israel, North Korea, New Zealand, and Iran.
Account Opening
To open an account with OQtima go to the official website: https://oqtima.com/.
Next, click on the menu button at the upper right corner of your screen and select Get Started.
Enter your details including your first and last name, email address, mobile number, country of residence, and password.
Tick to agree for OQtima to process your data due to regulatory requirements.
Tap Continue.
Next, you’ll need to enter details about your financial status including your employment status, annual income, etc.
Click Continue and then submit your government-issued identification to create a live account.
After a couple of minutes, your account should be approved.
Once verified, choose the type of account you want to open, account leverage, and base currency.
Confirm your selection by clicking Continue.
You’re all set! You can begin using your account.
Customer Service
OQtima offers customer support via email at support@oqtima.com and phone at +442045867126.
The customer support team can also be contacted via Live chat and a support form on the Support page.
Live chat is available on the platform and through several social media channels including Facebook Messenger, Telegram, and Whatsapp.
OQtima has a Help Center which contains answers to frequently asked questions about the platform and CFDs trading.
The CFD broker also has educational materials for users in its Help Center.
Education
Yes, OQtima offers education via its Help Center, which features a section that provides explanatory articles covering how to execute a CFD trade and forex trading terms. Unlike other top CFD brokers, OQtima offers limited educational resources.
OUR CONCLUSION
OQtima is arguably one of the top CFD brokers in the industry. It offers zero commission retail CFD accounts with low trading fees and spreads and multiple payment methods of which it doesn’t charge funding fees.
It also has a seamless onboarding experience that can be completed in under 10 minutes plus a wide range of tradable instruments.
- Over 1000 tradable instruments
- Well-regulated broker
- Low spreads and other trading costs
- Easy to create retail CFD accounts
- Low minimum deposit requirements
Limited educational tools
FAQ
Yes, OQtima offers one of the best retail CFD accounts in the industry with low spreads and commissions plus an ample selection of financial products suitable for both beginners and professional traders.
OQtima only requires a minimum deposit of $20 to start trading via your retail CFD accounts.
OQtima is based in Limassol, Cyprus.
other top CFD brokers, OQtima retail CFD accounts are regulated in Cyprus by the Cyprus Securities and Exchange Commission and in Seychelles by the Financial Services Authority.