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2020 in retrospect: OctaFX looks back on a unique year

In the years ahead, many will think about how it was precisely the year 2020 that ushered in serious change across the whole world. Some would come to call it ‘The Great Reset’, others would go with the term ‘The New Normal’. In either case, the coronavirus pandemic has shifted circumstances dramatically in the last twelve months. We backed up our clients by improving our trading conditions, for instance, by lowering our spreads.

Endeavours, efforts, and events

This year brought forth many opportunities to help local communities in various countries.

We assembled joint aid ventures in Indonesia, Pakistan, and other countries with leading charity foundations and philanthropists to raise funds throughout the year.

Regardless of the intense coronavirus crisis, we also managed to organise a few memorable and festive events as promotional initiatives.

  • OctaFX’s birthday celebrations
  • Our continuous OctaFX 16 Cars trading contest for the best traders among our clients
  • Introducing Broker (IB) promotion—6 contests to win 6 cars.

Improvements and growth

In spite of the tectonic economic shifts, we still had grown our user base by three times compared to 2019, which alone shows how eager people became to learn the art of Forex trading.

We also expanded and curated our educational content, releasing new features online like Forex webinars in several languages. We also experimented with new educational formats and launched a YouTube show about finances and trading, spanning across three countries and three languages.

This year, we upgraded our infrastructure to 16 trading servers, which significantly enhanced our services’ traffic and volume.

Furthermore, we managed to improve and optimise the company’s inner dynamics and workflow to surpass past flaws found in the user experience. These had immediate positive effects on the client’s experience with our services:

  • Out of all client requests for deposits and withdrawals, we managed to process 80% of them within one hour. For 2021 we aim to reach 90%.
  • We added new features, like automated withdrawals within 15 minutes of the request, thanks to the new ‘template option’.
  • We introduced e-wallets across the Asian continent, making transactions much faster.
  • We significantly increased our deposit speeds, throttling the processing time down to 2 – 5 minutes.
  • We added new assets to our trading pool: American and British crude oil (WTI, Brent) and two new cryptocurrencies in Ripple and Bitcoin Cash (XRP, BTH).

What the future holds

We are looking forward to launching our brand new OctaFX Trading App for Apple iOS, and by doing so, we will make our services available to even more people.

Our hope is to uphold the current trend of tapping into new regions and extending our offers further into the African, Asian and European continents for 2021.

Essential gratitude 

Who would have thought twelve months ago, that we find ourselves reviewing the strangest and most uncertain year in recent memory? Nevertheless, we are still here, more assertive and well prepared, thanks to our team and our clients.

We wish you not only happy trading but good health and success for you and your families, for 2021 and well beyond.

year_end_results

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