OctaFX – an overview of the trading platform. Feedback from traders.

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OctaFX Broker Review

Min. Deposit USD 50
Max. Leverage 500:1
Min. Spread 0.0 pips
Regulators CySEC
Regulator Origin
Broker Type ECN/DMA

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Summary

OctaFX is a CySEC regulated STP/ECN broker founded in 2020 that will appeal to all Forex traders, both beginners and professionals. They have an excellent analytical section and offer a range of useful trading tools such as AutoChartist, copy trading and an account monitoring service so you can learn anonymously from other successful traders.

Trader education for beginners is well-presented and a generous bonus scheme exists for new deposits; platform support is almost unbeatable, with MT4, MT5 and cTrader all offered – but platforms are linked to account type and trading conditions.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Beginner Friendly Standard
Bonuses Deposit Bonus
Our Review Process

Trading Conditions

Minimum Deposit USD 50
Base currencies EUR, USD
Number of FX Pairs 28
Hedging Allowed Yes
Scalping Yes
Swap-Free Accounts Yes

Average Spreads

EUR / USD 0.4
GBP / USD 0.4
USD / JPY 0.4

Company Details

Company name Octa Markets Inc
Founded 2020
Website Visit Website
Type ECN/DMA
Regulators CySEC
Office locations UK, Hong Kong, Indonesia, Cyprus, Malaysia, Thailand

Deposit & Withdrawal Methods

Supported Platforms for OctaFX

Is OctaFX Safe?

OctaFX is a relatively new broker, founded in Indonesia in 2020 and regulated by CySEC since 2020 (license 372/18). It was regulated by the FCA (the UK’s Financial Conduct Authority) from 2020 to 2020 (ref: 679306) but allowed its regulatory status to lapse once the Brexit referendum was passed and it became clear that the EU was the more important regulatory market.

OctaFX has been widely recognised by the industry, recently winning Best Forex Broker Asia 2020 (Global Banking and Finance Review) Best FX Broker 2020 and Best Trading Conditions 2020 (European CEO Magazine) as well as Best Mobile Trading App 2020 (European CEO Magazine) and Best FX Broker 2020 (FXExplained).

Like all regulated brokers, OctaFX has segregated accounts (client funds and broker funds are kept in separate accounts in case of broker bankruptcy) and offers negative balance protection for all clients – so you can never lose more money that you have in your account.

Trading Conditions

OctaFX markets itself as a true ECN/STP broker and offers three different accounts depending on which platform you use.

Trading conditions – including spread, commission, leverage and margin call level – vary depending on which platform/account you decide to go with. All accounts are market execution in under 0.1 seconds and they all allow for hedging, scalping and EAs.

Account Types

OctaFX has three different account types (along with an unlimited demo account) depending on which platform you decide to use.

Min. Deposit Max. Leverage Min. Spread Commission
cTrader ECN USD 100 500:1 pips $3.00 Account Details
MT4 Micro USD 100 500:1 0.4 pips None Account Details
MT5 Pro USD 500 200:1 0.2 pips None Account Details

This is an unusual approach; if you are familiar with a specific platform and wish to continue using it, you are going to be restricted in your account choice. I firmly believe that platform preference should not arbitrarily affect trading conditions, which seems to be the case here.

Demo Account

OctaFX offers an excellent unlimited Demo Account option, available on MT4, MT5 and cTrader. It offers real market conditions and a chance to win real money in a monthly Champion Demo Contest.

MT4 (Micro) Account

With the MT4 (Micro) Account, you can choose either a floating spread, starting at 0.4 pips or a fixed spread, at 2 pips, depending on your preference. This account requires a minimum deposit of 50 USD (though 100 USD is recommended) and no commission is charged on trades.

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Leverage is fixed at 1:500 for Forex trading and the margin call/stop out is 25%/15%. Swaps are optional and CFDs and Cryptocurrencies can also be traded (though leverage will be much lower).

MT5 (Pro) Account

The MT5 (Pro) Account only offers a floating spread, starting at 0.2 pips, and requires a minimum deposit of 500 USD. No commission is charged on this account either but leverage for Forex trading is fixed at 1:200 and the margin call/stop out is set at 45%/30%.

There are no swaps on this account and overnight commissions are charged after 3 days. As with the MT4 account, both CFD and Cryptocurrencies can also be traded.

cTrader (ECN) Account

The cTrader (ECN) Account also only offers a floating spread, but this starts at 0 pips. A commission is charged on trades and a minimum deposit of 100 USD is required.

Leverage is fixed at 1:500 for currencies and 1:200 for metals – cryptocurrencies and CFDs are unavailable with this account. Margin call/stop out is set at 25%/15% and overnight commissions are only charged over weekends.

Spreads and Commissions

The spreads on the different account types vary by account type. Commission on the cTrader account is charged at 0.03 USD per 0.01 Lot.

Deposits and Withdrawal Fees

OctaFX only accepts deposits in EUR or USD. It charges no deposit or withdrawal fees but, unusually, only accepts deposits and withdrawals via the following methods:

  • Bitcoin: Minimum deposit is 0.00096 BTC and the minimum withdrawal is 5 USD
  • Neteller: Minimum deposit is 50 USD and the minimum withdrawal is 5 USD
  • Skrill: Minimum deposit if 50 USD and the minimum withdrawal is 5 USD

OctaFX also offers a deposit bonus scheme (up to 50% of your deposit) though withdrawing the bonus is conditional on trading activity, using the following formula.

OctaFX For Beginners

The educational material at OctaFX and its alternative website is good but focused on new traders; for more experienced traders there is little in the way of educational support. Customer support is competitive but where OctaFX really shines is in the research and market analysis available.

Educational Material

OctaFX has recently launched tradingtiger.pro, an online trading academy for new traders. The site features a range of short tutorials covering everything you need to know to get started – from Forex Fundamentals to Predicting the Market. Each tutorial is a mix of video and text and is well-packaged and easy to understand; learners are tested frequently on the material and the entire website is free of charge. Overall, an excellent resource for beginners traders and we hope OctaFX considers expanding it to include intermediate and advanced courses and brings the course in-house.

Back on OctaFX’s main website, the in-house education section is anchored by a collection of articles collectively called Forex Basics. Article topics range from explainers on ECN trading and Risk Management to Technical Analysis and Trading Strategies as well as more advanced concepts such as Pair Correlations and Fibonacci Retracements. These articles are detailed and well-written and offer valuable advice for new and intermediate traders – unfortunately, these topics aren’t available in video format.

Also on the main site, there is a short Tutorial section covering the MetaTrader platforms, CopyTrading, Autochartist and CFDs and a Video Tutorial section focused on getting started with MetaTrader. Finally, there is a FAQ section and a useful glossary of Forex trading terms. The education section also has links to the Manuals for the different platforms OctaFX supports (MT4, MT5 and cTrader)

Analysis Material

OctaFX has an excellent Market Insights section which is updated frequently. Regular posts include a Daily Forecast, a Daily Review and Weekly Review. These posts frequently offer predictions of future market movements – but be cautious and do your own research before acting on any predictions.

The Market Insights section also has a daily video series, uploaded to the OctaFX YouTube channel, called Market in a Minute, which covers all the big news from the Forex markets for the preceding trading day. In addition to all these regular updates, there are irregular short pieces published in reaction to trading events with detailed technical insight.

OctaFX also hosts a Forex News section, with short briefings on all the major news stories affecting the Forex markets, this is updated over the weekend and the articles are well-written and concise. These briefings are offered without any suggestion of how the events will affect the markets.

Customer Support

OctaFX customer support is open 24 hours a day, 5 days a week via live chat, phone (with local numbers for the UK, Hong Kong and Indonesia), email and WhatsApp.

Additionally, the Finance Department is open from 06:00 – 22:00 (EET) and the customer verification department is open from 08:00 – 17:00 (EET) for account setup and troubleshooting queries.

Trading Platforms

As mentioned above, OctaFX offers MT4, MT5 and cTrader – though platform choice is tied to account type and, as such, will greatly affect trading conditions.

Trading Tools

Alongside industry standards such as an Economic Calendar, Profit and Trading Calculators, OctaFX also offer an Account Monitoring tool whereby you can monitor any other OctaFX traders account and sort by Balance, Gain, Trades and Account Type. This tool also allows you to dig into the history of an account so you can learn how the account holder has managed their success. Accounts are only represented by numbers so all holders remain anonymous.

OctaFX also offers a copy trading function free for all accounts, allowing beginners to copy experienced, successful traders for a small fee per traded lot. This function is also available through the mobile app.

OctaFX also supports Autochartist, the industry-standard trading signals provider. Autochartist provides traders with automated alerts for opening and closing trades, a volatility analysis tool which allows you to better optimise take-profit and stop-loss levels and integrated market reports. Autochartist is available on MT4/5 (but not on cTrader) and requires a minimum balance of 500 USD in your OctaFX account.

Mobile Trading Apps

All the platforms offered by OctaFX are also available on mobile devices and tablets. In additions, OctaFX offers its own OctaFX Trading App (only for Android) which gives you access to all your OctaFX accounts (including your Demo Account) and comes with Market Insights fully integrated.

OctaFX In Their Own Words

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the FXTM offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

OctaFX Risk Statement

Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, acts of nature and other factors, all of which may substantially affect the price or availability of one or more foreign currencies.

Speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved. Only funds that a person would allocate to high-risk investments (i.e., funds that if lost would not affect the person’s standard of living or financial well-being) should be used in trading.

In cases where a Client has used only conservative forms of investment in the past, forex trading might not be appropriate for the Client. A Client must understand that a total loss of all funds deposited can occur, should the market go against the Client’s position(s).

Overview

OctaFX is a very good ECN broker with varied account options, platforms and trading conditions. Because these account options, platforms and trading conditions are all tightly linked, new customers may feel arbitrarily restricted. That said, OctaFX has an excellent analytical section, well-designed education for new traders, and the trading tools on offer are world-class.

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OctaFX – an overview of the trading platform. Feedback from traders.

OctaFX Server Location:

Our Client Terminal Location:

St. Louis, United States

Average Time (ms)

Order Excution (Normal Hours)

Order Excution (During News)

Review Sections

OctaFX is a foreign exchange broker registered in the St. Vincent and the Grenadines, a tiny nation in the Caribbean. It started offering direct market access-based brokerage services to clients in 2020.

OctaFX has a registered subsidiary in Cyprus called Octa Markets Cyprus Ltd and it serves mainly clients from the European Economic Area. The head office of the company is located at Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent, and the Grenadines.

Over the last decade, the company has expanded its operations worldwide and currently serves 1.5 million clients from over 100 countries. However, due to regulatory restrictions, OctaFX does not accept clients from the United States and a few other countries under international sanctions such as Sudan, Iran, and North Korea.

OctaFX has been offering true ECN and straight-through-processing based services to clients for almost a decade now and earned the reputation of being one of the most trusted brokers in the industry. With numerous awards from leading industry publications, they have positioned to be a leading broker in the Forex market.

Regulation and Safety of Funds

OctaFX’s parent company is regulated by the Financial Services Authority (FSA) in St. Vincent and the Grenadines. While the FSA regulates the broker in financial matters, it does not actually regulate the key products of the company, which is Forex and cryptocurrencies. However, its European subsidiary, Octa Markets Cyprus Ltd, is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the CySEC oversees the full range services offered by Forex brokers.

Regardless of which entity you open with an account with, OctaFX ensures that all client funds are deposited in a separate bank account so that its own operating funds and clients’ funds are never mixed.

By operating segregated bank accounts for client deposits, OctaFX ensures the safety of client funds. In the event that the company runs into financial trouble, clients can always claim their funds from the deposit institution and will not have to worry about the solvency of OctaFX. While OctaFX claim that it uses tier-1 banks for client deposits, we could not find the actual names of the banks on any of its publications.

Trading Services: Types of Forex Trading Accounts Offered by OctaFX

OctaFX offers three different trading accounts to clients in order to meet the demands of different trading styles and requirements from traders. All of these three accounts have virtually no minimum deposit requirements. But, based on which account you open, OctaFX recommends different amounts that you keep in your account.

For example, the Micro account’s recommended deposit is $100, but it increases to $500 for the Pro account. On the other hand, the cTrader based ECN account’s recommended minimum deposit is much lower, at $100.

One of the unique features of OctaFX is that all three accounts, including the ECN account, charge no commissions to traders and fees include only spreads.

The Micro account comes with the MetaTrader 4 platform and floating spreads start from 0.4 pips. If you want to open a fixed spread account, OctaFX will accommodate you as well, but the fixed spreads will start with a minimum of 2 pips. By contrast, the Pro account only offers variable spreads that start from 0.2 pips. The Pro account is definitely recommended for traders who conduct a large number of trades per day. The ECN account surprisingly has variable spreads that start from 0.0 pips on certain currency pairs.

For all accounts, the minimum trade size is set on 0.01 lots or 1 micro lot (1,000 units).

We found that the Micro and ECN accounts offer up to 500:1 leverage for currencies, while the Pro account caps leverage of 200:1. For Metals and other assets, the leverage is capped at 200:1 for the Micro and ECN accounts. The Pro account only offers up to 100:1 leverage for metals.

When it comes to offered assets for trading, OctaFX has one of the lowest numbers of assets for trading. All accounts offer only 28 currency pairs and depending on which account you have opened, you might get access to only 4 metals, 2 energies, 10 indices, and 3 cryptocurrencies to trade.

OctaFX also offers free demo accounts and we are happy to report that these demo accounts have no set expiry date. However, if you leave the demo account inactive for 60 days, OctaFX will deactivate it.

A quick comparison of different accounts offered by OctaFX

Micro Pro ECN
Trading Platform MetaTrader 4 MetaTrader 5 cTrader
Commission (per lot) None None None
Recommended Starting Deposit (USD) $100 $500 $100
Leverage 500:1 200:1 500:1
Programming Language MQL MQL C#
Currency pairs 28 28 28
CFD’s Yes Yes No
Cryptocurrencies Yes Yes No
Minimum trading volume 0.01 lot 0.01 lot 0.01 lot
Margin call / Stop out level 25% / 15% 45% / 30% 25% / 15%
Hedging Allowed Allowed Allowed
Scalping Allowed Allowed Allowed

Trading Platform & Technology

In the beginning, OctaFX started its service by offering the MetaTrader 4 platform and till today, the Micro account comes equipped with this popular trading software. However, OctaFX has acquired a license from MetaQuote to offer the latest version of the software, MetaTrader 5 for its Pro accounts. For a true ECN experience, however, the company has acquired a license for cTrader from Cyprus based Spotware.

While both MetaTrader and cTrader offers extensive technical analysis capabilities, being longer in the market means MetaTrader has a lot more custom-built technical indicators in the market than cTrader.

However, both of the platforms come with MQL and cAlgo programming languages respectively. For seasoned programmers, cTrader would be the preferred platform as its language is closely based on C#. Nonetheless, if you have already invested in developing your technical indicators or automated trading strategy using MetaTrader, you can probably find a freelance programmer to convert your algorithm to fit the cTrader platform as well.

Both MetaTrader 4 & 5 as well as the cTrader platform from OctaFX come with web trading versions that allow traders to log in to their account using a simple web browser. We found the cTrader web trader to be superior compared to the MetaTrader web trader. In fact, compared to cTrader, the web trader of MetaTrader is rather basic.

Also, if you want to access your trading account with OctaFX on the go, you can always download Android or iOS apps and login to your account from anywhere. While the technical analysis capabilities of these apps are limited, it can be a lifesaver to be able to open and close orders during emergencies and you should use these apps for such occasions only.

OctaFX hosts its MetaTrader servers throughout Europe and Asia. On the other hand, its cTrader server is a hosted solution from Spotware. Regardless of which platform and account you are using, OctaFX claims that its order executions occur within 0.1 seconds. During our latency tests, we found the claims to come reasonably close to reality.

Here is a summary of our order execution test results.

Order Execution Test Results
OctaFX MT4 Server Location Hong Kong – Tsuen Wan, Tseun Wan
Our Client Terminal Location United States – St. Louis, Missouri
5 Day Average During Normal Hours (Pips) Slippage During News Event (Pips)
Slippage 0.0000 0.0000
5 Day Average Time (Milliseconds) Lowest Time (Milliseconds)
Order Execution (Normal Hours) 356 219
Time (Milliseconds)
Order Execution (During News) 375

Customer Service and Support

In today’s world, most people use chats and various voice calling apps like Facebook Messenger or WhatsApp to communicate with friends and family. OctaFX understands this trend and besides offering traditional phone support in its key geographic markets like the United Kingdom (+44 20 3322 1059), Hong Kong (+852 5808 8865), and Indonesia (+62 21 3110 6972), it also supports chat function with WhatsApp and Telegram.

Moreover, OctaFX offers live chat support on its website from Monday to Friday during active trading hours. We found that the best way to get a fast response from OctaFX is by contacting them on the online chat as the company promises high priority immediate response through this channel.

The website of OctaFX supports 12 languages and the phone support staff speaks several languages depending on where you are calling from. We were pleased to see that OctaFX’s staff were well versed in dealing with trading related issues and had extensive knowledge about the software platforms the company offers to retail and institutional investors.

Based on our criteria, we gave the following ratings to their customer service:

The final rating for customer service experience
Weight Nominal Rating Weighted Rating
Connection Time 10% 5.0 0.50
Toll-free Number (Yes/No) 10% 1.0 0.10
Multilingual Support 10% 5.0 0.50
Professionalism 25% 4.79 1.20
Resolving Issues(Yes/No) 45% 5.0 2.25
Final Rating 4.16 4.55

Deposit and Withdrawal Methods

OctaFX is one of the very few Forex brokers that offer local deposit options in countries like Indonesia, Pakistan, Malaysia, Thailand, India, Vietnam, and Nigeria. Traders in these countries can simply go to a local bank and make a deposit to their Forex accounts with OctaFX.

Besides local bank accounts, OctaFX also supports all the major credit and debit cards and they do not charge any additional fees for using cards. OctaFX also supports major e-payment providers such as Skrill, Neteller, and FasaPay. If you make deposits using these e-payment providers, the amount is credited to your account in real-time.

We found that the OctaFX withdrawal request typically takes 1 to 3 hours to get approved and it takes another 30 minutes for them to make the actual transaction. However, withdrawal to bank accounts requires several days.

Current Promotions and Bonus Offers

OctaFX is currently running a 50% deposit bonus for all old and new customers. However, to become eligible for the 50% deposit bonus, OctaFX requires clients to trade half the number of lots for each dollar of the bonus. Hence, if you deposit $400 in your account, you need to trade 100 lots to get the $200 or 50% bonus.

We found the trading requirement to be too high, but if you are a frequent trader, you can become eligible for the 50% bonus on your deposits in a reasonable time.

The Bottom Line

OctaFX has a very unique value proposition for Forex traders. It offers true ECN accounts via cTrader, which requires brokers to connect at least one major and reputable liquidity provider to the platform. So, we can be sure that the ECN account is really a direct market access account.

Nonetheless, OctaFX does not charge any commissions on top of the low spreads on the ECN account so, if you are looking to trade a real ECN account with zero commissions, OctaFX is one of the few reputable brokers that offer such a service.

OctaFX might not offer a lot of exotic currency pairs and you might find it relatively difficult to look for a lot of opportunities with only 28 currency pairs. However, with high spreads and extreme volatility, most of the hundreds of currency pairs offered by other brokers are often not practical to trade anyway. We found the approach of OctaFX to be more practical as it offers low spreads on popular currency pairs instead of offering hundreds of assets with high spreads and fees.

While the regulatory situation of OctaFX is adequate, it is not among the best-regulated brokers in the world. Without the oversight of the Financial Conduct Authority (FCA) in the United Kingdom or the Australian Securities and Investments Commission (ASIC), a lot of serious Forex traders will find regulatory conditions at OctaFX to have major deficiencies. At the end of the day, if regulatory oversight is important to you, we recommend that you open an account with its European subsidiary as it is regulated by the Cyprus Securities and Exchange Commission.

Despite this lack of regulatory oversight, OctaFX still does not offer trading services to U.S clients.

Based on our research, we have assigned the following ratings to OctaFX. To know more about how we rate brokers, read our review process.

Rating Categories Weight Nominal Rating Weighted Rating
1 Regulatory Oversight 15% 4.25 0.64
2 Security of Client’s Funds / Segregated acc. 10% 4.50 0.45
3 Business Model of the Broker 5% 5.00 0.25
4 Transaction Costs and Fees 15% 5.00 0.75
5 Ease of Deposit and Withdrawals 5% 4.75 0.24
6 Trading Platform 10% 5.00 0.50
7 Order Execution/Server Latency 5% 5.00 0.25
8 Customer Support 5% 4.55 0.45
9 Leverage and Margin 10% 5.00 0.25
10 Initial Deposit Amount 5% 4.50 0.23
11 Type of Assets Offered 10% 4.25 0.43
12 Public Opinion 5% 4.75 0.24
Avarage Rating 4.71
Weighted Avarage Rating 4.67

OctaFX Reviews

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25+ Books and Articles a Modern Trader Should Read

We have carefully picked a wide selection of books that will help you with your endeavors of becoming a modern trader. They all are related to stocks, futures, and crypto. In fact, each of them takes a specific dive into one of the categories we have identified. Enjoy.

Part I: Theory, fundamental and technical analysis

These are fundamental books that educate about economics, money, and theory of trading.

1.The Ascent of Money by Niall Ferguson (2008)

Mr. Ferguson has created a true masterpiece by the encrusting history of our society into the massive track record of the financial evolution. Not only one begins to understand a complete landscape of the today’s financial instruments but also is able to track the path of their establishment.

With Ferguson, you will learn how first equities and stocks appeared, what role the banking system played in the world exploration and later industrialization, and even peek at maestros of hedge funding. Get it.

2. Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy (1999)

Next book has already served thousands of people as the Trading Bible offering the concepts of technical analysis and helping to apply this knowledge in the futures and stock markets.

Understanding indicators and being able to read charts is crucial in both trading and investing. The author leads his readers through an accessible overview of the technical analysis, prioritizing the futures markets.

Technical Analysis of the Financial Markets is the basic and first book in trading. Get it.

3. Encyclopedia of Chart Patterns by Thomas Bulkowski (2000)

This colossal work is a continuation of the field of technical analysis. Described as the encyclopedia for a reason, Bulkowski’s book elucidates performance statistics for bull and bear markets. The revised and expanded second edition of this bestseller includes 23 new patterns, containing a second section dedicated to ten event patterns.

Thomas Bulkowski teaches how to trade during the significant events: quarterly financial reports, retail sales, stock upgrades, and downgrades. It is a must-have reference for the modern trader. Get it .

4. One Up On Wall Street by Peter Lynch (2000)

The book of Mr. Lynch is iconic in many senses: there are over a million copies sold; the author himself is a legendary mutual-fund manager who shares own experience and relates to his readers. He attributes financial success to an ability to spot investment opportunities which are “everywhere.”

One of the key ideas that Mr. Lynch shares with us is the advantage of the average investors before professionals. Since we encounter products and services right, left and center, paying attention to the best ones can help with finding the best companies to invest in before the analysts even discover them.Read it.

5. The Emotionally Intelligent Investor: How self-awareness, empathy and intuition drive performance by Ravee Metha (2020)

There is one more critical foundation that the modern trader ought to comprehend: Emotional Intelligence. Based on his expertise in neuroscience and trading, Ravee Metha revisits long-held assumptions and beliefs. He implies that a good venture starts with introspection.Get it.

6. Market Wizards, Updated: Interviews With Top Traders by Jack D. Schwager (2020)

An even deeper insight into the mindset of a successful trader. Schwager’s bestseller became a classic for the deeply insightful interviews with financial stars like Bruce Kovner, Michel Steinhardt, Ed Seykota, Tom Baldwin, and Marty Schwartz.

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In Part One, the author interviews experts in futures and currencies, who turned thousands of dollars into millions. Part Two covers mostly stocks while Part Five refers to the psychology of trading. “There is no other book like this,” says Nassim N. Taleb, a former derivatives trader.Get it.

7. Bubbles, Banks, and Financial Stability by Kosuke Aoki and Kalin Nikolov (2020)

For true geeks of finance, we offer to review a 40-pages long working paper by Aoki and Nikolov. The authors have made their research for the European Central Bank and a number of other reputable financial institutions.

This particular article reviews the significance of regular financial bubbles to the monetary system and society overall. Besides, it gives a glimpse at how to spot one and which poses a true danger to the financial system. Although this scientific approach with vast formulas can become a prerequisite for entering a short position, one must remember the educational purpose of the work.Read it.

8. Trading with Depth of Market by Guy Bower (2000)

DOM is short for Depth of Market. Learn more about market depth and how to read price levels which are updated in real time.

This short guideline will lead you through depth trading basics and setups that are applicable in most types of trading. It also includes numerous illustrations that become handy during practical application of knowledge.Read it.

9. Mind over Markets by James Dalton (1999)

Dalton’s work is the core foundation on Volume Analysis amid structured knowledge about order book and order flow. It has a massive value squeezed into 275 pages — the experience that normally would take traders years to obtain.

The Mind over Markets covers market structure, trending and bracketed markets, day timeframe trading and pattern recognition. It also teaches about long-term trading and what markets to avoid. The approach is elegant and simple — the author shows how traders and investors can quickly learn the nuances, features, and signals of the market in five basic steps.Get it.

10. Top 10 Trading Setups: How to Find them, When to Trade them, How to Make Money with Them by Ivaylo Ivanov (2020)

From breakouts and pullbacks to huge volume and mean-reversion setups, Ivanov explains which strategies fit different markets. His key message: a good trader adapts to changing markets and makes money both in a bull and bear market.

It is one of the most practical trading books ever created since it directly plunges into trading setups. Learn what strategies to use, when, how, and at which point to exit them. It is a game changer for the diverse market environment.Get it.

Part II: Trading Stocks

11. How to Day Trade for a Living: A Beginner’s Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz (2020)

With over 750 reviews and a 4.7/5 rating, this book deserves your time and a place on a bookshelf. It focuses specifically on stocks and develops a definite understanding of ABCD Pattern, Bull Flag, VWAP, and other trading strategies.

A Ph.D. in Chemical Engineering but a trader by profession, the author knows what discipline in trading is. Get it.

12. The Day Trader’s Bible by Richard Wyckoff (1919). Edited Revisions 1999–2001

Wyckoff worked on the Wall Street during the Golden Age of technical analysis. He has gathered all his day trading experience and crystallized it in one vivid book. The very fact that some readers argue regarding the relevance of the century-old book underlines the ignorance of human psychology.

As financial history repeats in cycles, this should be a great motivation to reflect on the Day Trader’s Bible. You will find yourself returning to it frequently. Read it.

13. Pit Bull: Lessons from Wall Street’s Champion Day Trader by Martin Schwartz (1999)

If you think we are providing you with technical literature only, don’t get mistaken. This enjoyable book will lead you through the entertaining thriller of economic endeavors as Martin “Buzzy” Schwartz shares his autobiography.

“… most people think that they’re playing against the market, but the market doesn’t care. You’re really playing against yourself…” Get it.

14. Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude by Mark Douglas (2001)

In his book, Douglas reveals why most traders lack consistency and help them to overcome the innate mental habits that cost money. The author examines popular myths about the market and uncovers them one by one teaching readers to look beyond random outcomes and understand the true reality of any taken risk. Get it.

15. Trades About to Happen: A Modern Adaptation of the Wyckoff Method by David H. Weiss (2020)

Some call it a genuine reword of Wyckoff. The book analyzes markets one bar chart at a time, recreating the ambiguity of actual trading. It also emphasizes reading price/volume charts without overcomplicating it.

After completing Trades About to Happen, one can apply its knowledge on the nanoscale in the order book and utilize such concepts as climax volume and absorption. Besides, it includes a short study guide in the appendix to assist readers with mastering the material.Get it.

16. Trading and Exchanges: Market Microstructure for Practitioners by Larry Harris (2002)

User @mrizzo0 recommended this book on our Twitter and added: “you gotta know the rules and the enemy.”

Trading and Exchanges covers securities and contracts, the marketplaces where these are traded, and the rules that govern them. You will learn about brokers, dealers, arbitrageurs, retail traders, rogue traders, and how traders differ from investors and gamblers.

There is also significant information about exchanges, dealer networks, ECNs (electronic communications networks), boards of trade, crossing markets, and pink sheets.Get it.

17. Flash Boys: A Wall Street Revolt by Michael Lewis (2020)

Lewis appeals to a reader with a strong message: there are insiders on the Wall Street that rig the market. And this concerns even those who only have a retirement account. To most readers, Flash Boys has been an eye-opening piece with a true snapshot of the financial market.

How is it valuable besides an entertaining insight into high-frequency trading and algo trading? First of all, the reader becomes aware of the whole trading landscape, with its risks and uncertainties. Secondly, it becomes a motivation for diversifying the portfolio and becoming extra cautious to particular markets.Get it.

18. Mastering the Trade, Second Edition by John F. Carter (2020)

Mr. Carter will help you identify whether you are a good fit for trading stocks. The third chapter reviews tools for traders, although it does not focus on a particular instrument.

The book will also prepare you that sometimes it is OK to take a break, relax, and patiently wait for the right opportunity. There is enough of positive feedback from readers who also are swing traders. Get it.

Part III: Trading Futures

Here comes one of the oldest instruments — futures contracts. Either you are new to futures or already started trading this derivative, read our blog post on this topic.

19. A Complete Guide to the Futures Market: (Wiley Trading) by Jack D. Schwager (2020)

Schwager’s second and most recent book narrows down the topic to a complex world of futures. From the technical analysis, trading systems, and fundamental analysis to spreads and practical trading principles, this famous author successfully navigates any trader interested in the futures market.Get it.

20. The Simple Strategy — A Powerful Day Trading Strategy For Trading Futures, Stocks, ETFs and Forex by Markus Heitkoetter (2020)

This is a practical and clear guide to entry and exit positions. The book will instill knowledge about taking advantage of small intraday trends without sophisticated trading software.

In fact, it is not for novice traders or those who are looking for the Holy Grail or wants to automate his trading. Get it.

21. Options, Futures, and Other Derivatives (10th Edition) by John C. Hull (2020)

The book dives into the topic covering the industry’s hottest topics. It serves business and economics professionals and aids in overcoming the gap between theory and practice.

Understand the Black Scholes model at scale. Get it.

Part IV: Blockchain and cryptocurrency

22. Cryptoassets by Chris Burniske and Jack Tatar (2020)

What should a trader know about crypto trading? First of all, it is the new Internet, and unless one thinks of retirement, should he neglect such a delightful trading opportunity. Secondly, the authors demystify a vast number of ideas that have populated media and common conversations.

After reading this book, the puzzle pieces will join and readers will personally benefit from being aware of a new asset class.Get it.

23. Cryptocurrency Investing Bible by Alan T. Norman (2020)

This book will educate you on the following topics:

  • Which way of making money in cryptocurrency suits you best.
  • Where should you start if you have only $500.
  • What information about cryptocurrency the experts withhold.
  • How to elaborate a personal strategy, set up your own cryptocurrency business and earn your first $3,000–10,000 in 2020. Get it.

24. Cryptocurrency Trading: A Complete Beginners Guide to Cryptocurrency Investing with Bitcoin, Litecoin, Ethereum, Altcoin, Ripple, Dogecoin, Dash, and Others by Crypto Tech Academy (2020)

Much alike previous works with expert advice on trading, this particular book unleashes strategies on trading a totally new class of assets. Cryptocurrency Trading will explain the pros and cons of long-term and short-term investing in various virtual currencies.

It also explains how to store purchased coins, diversify the portfolio, and protect yourself from hackers and phishing. Get it.

25. The Internet of Money by Andreas M. Antonopoulos (2020)

In fact, we suggest to dig deeper and understand the underlying philosophy of cryptocurrencies. Why did bit-coiners counteracted the bankers? What is the potential of the new mythical technology called blockchain?

The legend in Bitcoin space, Antonopoulos not only will share the answers with you; he has been an evangelist of the Internet of Money for years. Get it.

Part V: a bonus

26. Thinking, Fast and Slow by Daniel Kahneman (2020)

Kahneman is a notable psychologist who improved our understanding of decision-making and behavioral economics. The Nobel Committee awarded him with the Prize in Economic Sciences of 2002 for the latter topic.

Significantly, his book covers three phases of Kahneman’s career: the early days working on cognitive biases, his work on prospect theory, and his later work on happiness. As a result, it introduces two systems that explain the rain’s formation of a thought: fast and slow. Get it.

27. Make Your Bed by Admiral William H. McRaven (2020)

Francisco Caselles suggested that anyone looking into trading must learn self-discipline. Make Your Bed by will prove that little things change your life “…and maybe the world.”

Don’t take our word for it; leading news outlets described it as “powerful” and a must-read for every leader.” Taking into account that in trading you are the leader for yourself, it might be beneficial to you. Get it.

28. Happiness: A Guide to Developing Life’s Most Important Skill by Matthieu Ricard (2007)

This blissful and intelligent manuscript will settle in your mind and open up a secret to harmony. Ricard’s writing examines years of scientific, cultural and philosophical exploration of happiness and attempts to answer a range of doubtful questions we all have had.

It reminds that happiness starts with our attitude and is a foundation of peace of mind.

Happiness will greatly assist you in your trading endeavors, both in high and low times. It will help you not to lose mind. Get it.

Afterword

We hope this was enriching. There are enough brilliant authors and we could miss one. Please share a title or an author in the comments to this section if you would like to recommend more books on trading. Let’s remember that knowledge is the best investment everyone is capable of.

Bookmap is a professional high-performance trading platform. Over the last few years, it has set a new standard for accurate real-time visualization of complete market data. Traders can track the evolution of market depth displayed with heatmap as a 3rd dimension.

Customers include brokers, hedge funds, proprietary trading firms and individual traders. They use Bookmap for trading futures, stocks and digital/cryptocurrencies at CME, Nasdaq, GDAX, and other exchanges.

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