OFinancial

While OFinancial provides various trading instruments, it is not a legitimate platform due to its unregulated status. For me, legitimacy goes hand-in-hand with regulation, and because OFinancial lacks proper oversight, I would be cautious about trusting them with my funds.

The spread on OFinancial varies by account type. For the Classic account, the spread starts at 1.0 pip, while the Premier and Elite accounts offer floating spreads starting from 0 pips. Personally, I’d opt for the Premier or Elite accounts if I wanted tighter spreads, but I’d also need to account for the commissions.

OFinancial provides MetaTrader 5 (MT5), which is a robust trading platform that I personally prefer. MT5 has advanced charting tools, indicators, and multiple order types, making it suitable for experienced traders like myself. However, I wish they also offered MT4, as it’s more familiar to some traders.

Yes, OFinancial charges commissions on their Premier and Elite accounts. The commission is $3.5 per side for the Premier account and $2.5 per side for the Elite account. For the Classic account, there are no commissions, but the spread is a bit wider, starting from 1 pip. I prefer commission-free accounts for smaller trades, but the lower commission on the Elite account would suit me if I was trading larger volumes.