Written by ForexBrokers.com
In this head to head comparison of City Index vs Octa, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
City Index and Octa are both prominent online brokers, offering trading services across various financial markets. Established in 1983, City Index is a well-established broker that is publicly traded, while Octa, founded in 2011, remains privately held. Neither of the brokers operate as banks, but City Index stands out with a stellar ForexBrokers.com Trust Score of 99 out of 99, signifying a high level of trust amongst users.
In terms of regulatory credentials, City Index holds an impressive seven Tier-1 licenses, recognized as highly trusted by ForexBrokers.com, alongside one Tier-2 license. In comparison, Octa possesses one Tier-1 license and one Tier-2 license, earning it a Trust Score of 72, which is deemed to represent an average level of risk. These regulatory distinctions highlight City Index's commitment to secure and reliable trading services when compared to Octa.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Year Founded | 1983 | 2011 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
City Index and Octa offer varied experiences in terms of commissions and fees, tailored to different trader needs. City Index's pricing aligns with the industry average for trading CFDs, forex, and spread-betting products. It offers a Premium Trader account for active traders depositing over £10,000, granting exclusive pricing and dedicated customer service. With an average spread of 0.74 pips on the EUR/USD, City Index remains competitive, though not leading in the forex broker category compared to others like Tickmill. UK-based professional traders can benefit from rebates, starting at £4 per million for trading over £25 million monthly, climbing to £7.5 for volumes above £300M. City Index holds a strong 4.5-star rating and ranks #14 out of 62 brokers on ForexBrokers.com for commissions and fees.
On the other hand, Octa has made significant strides in improving its pricing, vying for a spot among the lowest-cost MetaTrader brokers. Octa offers no slippage on 97.5% of executed orders and no overnight carry costs, catering to various account types depending on the regulatory entity. While its EU entity provides an average spread of 0.5 pips for the EUR/USD pair, foreign entities list this at 0.9 pips. It's important to note that Octa does not provide a specific date range for its spread data, which affects the precision of comparisons. Though Octa showcases notable improvements, its claims lack the same certainty as those with dated references. Octa earns a 4-star rating and is ranked #29 out of 62 brokers by ForexBrokers.com in the Commissions and Fees category.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Minimum Deposit | £100.00 | $25 |
| Average Spread EUR/USD - Standard | 1.4 | 0.9 |
| All-in Cost EUR/USD - Active | 0.74 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
City Index and Octa both offer forex trading as CFDs or spot contracts, catering to those interested in currency trading. City Index takes the lead with an impressive 13,500 tradeable symbols and 66 forex pairs, while Octa provides more limited options with 300 tradeable symbols and 35 forex pairs. Neither broker offers exchange-traded securities on U.S. exchanges. However, Octa distinguishes itself by allowing clients to purchase international securities, unlike City Index.
Both brokers provide cryptocurrency derivatives trading, though not actual cryptocurrencies. Copy trading is available with both brokers, enabling users to mimic the trades of others. When it comes to the range of investments, City Index is rated five stars and ranks 8th among 62 brokers according to ForexBrokers.com. In contrast, Octa earns 3.5 stars, placing it at 52nd in the same category. This makes City Index a more versatile choice for investors seeking a broader range of opportunities.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 300 |
| Forex Pairs (Total) | 66 | 35 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing City Index and Octa for their trading platforms and tools, both brokers offer a wide range of features that cater to different trading needs. They both provide free virtual demo accounts, allowing users to try simulated trading before investing real money. Each broker has developed a proprietary platform, adding a personal touch to their trading services. Both City Index and Octa also offer Windows-based platforms, web-based platforms, and support for MetaTrader 4 (MT4). Although both brokers provide convenient copy trading capabilities, only Octa supports MetaTrader 5 (MT5), giving it an edge for traders who prefer newer trading technologies.
Charting tools present distinct differences between City Index and Octa. City Index boasts 239 drawing tools, significantly more than the 15 offered by Octa, which may appeal to traders who rely heavily on technical analysis. Both platforms allow trading directly from stock charts, enhancing the user experience. When it comes to watch list customizations, City Index provides 11 columns, while Octa offers 7. In terms of recognition, City Index receives a higher rating of 4.5 stars and ranks 10th among 62 brokers, showcasing its greater reputation for trading platforms and tools. Octa, with a 4-star rating, ranks 37th, reflecting its solid but less distinguished standing in the trading platform arena.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Drawing Tools (Total) | 239 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of City Index and Octa, both brokers deliver a robust platform for iPhone and Android users, along with features like stock and forex price alerts, trendline drawing, and the ability to view various chart time frames. However, there are distinct differences. City Index stands out with 88 technical studies for charting, while Octa offers 30. Additionally, only City Index provides syncing of watchlist symbols between the app and online account, ensuring seamless updates and consistency across devices. Both apps allow the creation of watchlists with real-time quotes and auto-save chart drawings, providing convenience for traders on the move.
City Index enjoys a higher mobile app rating of 4.5 stars compared to Octa’s 4 stars, reflecting its appeal among users. Notably, ForexBrokers.com ranks City Index #9 among 62 brokers for mobile trading app performance, while Octa is ranked #35. These rankings highlight City Index’s competitive edge in delivering a more comprehensive trading experience through its mobile app. Whether you prioritize a wider range of technical studies or seamless syncing capabilities, City Index appears to provide a more feature-rich app for those trading on the go.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
In comparing City Index and Octa for market research offerings, both platforms provide valuable daily market commentaries and comprehensive forex news from top-tier sources such as Bloomberg and Reuters. When it comes to technical analysis, City Index utilizes tools from Trading Central but does not integrate with Autochartist. Conversely, Octa features Autochartist tools but lacks Trading Central offerings. These differences highlight City Index’s focus on providing sentiment-based trading tools that reveal market positions, which is absent from Octa's suite of features.
Both brokers offer a global economic calendar, allowing users to keep track of important international events. While neither offers research tools from TipRanks or Acuity Trading, City Index excels in overall research capabilities, earning a 4.5-star rating and ranking 10th out of 62 brokers according to ForexBrokers.com. Octa follows with a 4-star rating and ranks 26th in the same category. This distinction underscores City Index’s greater emphasis on research services, offering traders deeper insights and tools to inform their trading decisions.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to providing educational resources for beginners, both City Index and Octa offer a comprehensive selection of materials suitable for newcomers to the forex and CFD markets. Each platform provides more than ten educational pieces, including articles, videos, and archived webinars that focus on forex or CFDs. Beginners looking to deepen their understanding will find a wealth of resources at their disposal. Both brokers also host online webinars every month, ensuring that clients have regular opportunities to engage with expert insights. Additionally, each platform features a searchable archive of past webinars, making it easy for beginners to access previous content at their convenience.
The educational offerings of City Index and Octa both cover a broad spectrum of topics, from beginner-friendly material to more advanced trading strategies. They each provide at least ten beginner-specific videos, making it easier for novices to get up to speed. For those more experienced, over ten advanced videos are available, catering to developed trading skills. A key feature of both platforms is an investor dictionary with over 50 investing terms, helping users get familiar with trading jargon. However, when comparing these two, City Index shines brighter with a 4.5-star education rating and a ranking of #9 among 62 brokers by ForexBrokers.com. In contrast, Octa holds a 4-star rating and is positioned at #42, indicating a lower standing in educational resources.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that City Index is better than Octa. City Index finished with an overall rank of #8, while Octa finished with an overall rank of #47.
Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.
| Feature |
City Index
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 72 |
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Both City Index and Octa do not offer the ability to buy actual delivered cryptocurrency, but they both provide the option to invest in cryptocurrency derivatives.
In comparing online brokers, City Index offers diverse deposit and withdrawal options including ACH/SEPA transfers, PayPal, Visa/Mastercard, and bank wires, while Octa supports Skrill, Visa/Mastercard, and bank wires but lacks ACH/SEPA and PayPal services.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | City Index | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | City Index Review | Octa Review |
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| Regulation | City Index | Octa | |
|---|---|---|---|
| Trust Score | 99 | 72 | |
| Year Founded | 1983 | 2011 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | City Index | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | City Index | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 300 | |
| Forex Pairs (Total) | 66 | 35 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | City Index | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.74 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | Octa | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $25 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | City Index | Octa | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Drawing Tools (Total) | 239 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | Octa | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | City Index | Octa | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | Octa | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | City Index Review | Octa Review |
| Overall | City Index | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | City Index Review | Octa Review |
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