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 offers competitive pricing for trading CFDs, forex, and spread-betting products, aligning with industry standards. Utilizing their proprietary platforms or MetaTrader ensures optimal pricing. The Premium Trader account, available to those depositing over £10,000, provides exclusive pricing and dedicated service. The average spread for a CFD account on the EUR/USD pair is 0.74 pips, which is on par with the industry average but slightly lags behind top forex brokers like Tickmill and FP Markets. U.K.-based traders can benefit from active trader rebates starting at £4 per million, with potential increases based on trading volume. City Index's commissions and fees receive a 4.5-star rating and rank 14th out of 62 brokers according to ForexBrokers.com.
On the other hand, Octa has made significant strides in pricing, improving its stance among low-cost MetaTrader brokers. A notable feature is the absence of slippage on 97.5% of executed orders and no overnight carry costs, though some restrictions may impact high-frequency trading. The commissions and fees at Octa vary depending on the account type and the regulatory entity, offering different spreads and services in the EU and via its international entities. For example, the EU entity averages a 0.5 pip spread on the EUR/USD, compared to 0.9 pips for its other entities. Despite lacking a date range for its spread data, Octa maintains competitive pricing, earning a 4-star rating and ranking 28th out of 62 brokers for commissions and fees by ForexBrokers.com.
| 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 offer traders a range of investment options, each with distinct features. City Index excels with a large selection of 13,500 tradeable symbols, including 66 forex pairs, positioning it as an attractive choice for those seeking diverse trading opportunities. By contrast, Octa provides 257 tradeable symbols, including 35 forex pairs, emphasizing a more streamlined selection. Both brokers enable forex trading as either CFDs or spot contracts, and offer crypto derivatives, albeit without delivering actual cryptocurrencies. However, when it comes to exchange-traded securities, City Index does not provide access to U.S. or international exchanges, whereas Octa allows trading on international exchanges, offering more global reach.
While both platforms facilitate copy trading, City Index stands out with its extensive investment range, earning it a higher rating of 5 stars and securing the #8 rank from ForexBrokers.com. Octa, receiving a slightly lower rating of 3.5 stars and ranked #52, appeals to traders looking for a focused range of assets, with an intriguing option for international exchange-traded securities. Overall, for traders prioritizing diversity and advanced investment opportunities, City Index might be the preferred broker, while Octa serves those interested in more specific and international trading alternatives.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 257 |
| 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.
Both City Index and Octa provide convenient mobile trading solutions for iPhone and Android users. They offer essential features like stock and forex price alerts, as well as the ability to draw trendlines and view multiple time frames on charts. City Index, however, pulls ahead with impressive capabilities in watchlist management; it offers watchlist symbol syncing, allowing seamless updates between the app and online account—a feature lacking in Octa's app.
For traders who rely on technical studies, City Index offers a more comprehensive experience with 88 technical studies available in its mobile app, compared to Octa's 30. Both apps support auto-saving chart drawings and provide real-time quotes with custom watchlists. In terms of overall user ratings, City Index scores 4.5 out of 5 stars, ranking it 9th out of 62 brokers, while Octa earns 4 stars, placing it at the 36th position. This makes City Index a more favorable choice for those seeking extensive features and higher user satisfaction in mobile trading.
| 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.
Both City Index and Octa offer a wealth of educational resources suited for forex and CFD trading, making them appealing choices for beginners. Each platform provides over ten educational pieces, such as articles, videos, and archived webinars. Both brokers host at least one educational webinar monthly and keep a searchable archive for users who wish to revisit these sessions later. Beginners have access to more than ten instructional videos on trading basics, while advanced traders can also benefit from City Index's and Octa's video content tailored to their needs. Each broker rounds out its educational offerings with an extensive investor dictionary containing definitions for over 50 trading terms.
When it comes to educational rankings, City Index edges out Octa. City Index enjoys a high education rating of 4.5 stars and ranks 9th among 62 brokers on ForexBrokers.com, reflecting its strong educational presence. On the other hand, Octa holds a respectable 4-star rating but is placed 41st. Both platforms are well-equipped to support traders at every skill level, but City Index's slightly higher rating and ranking suggest it might have a bit more to offer in terms of educational resources for the budding trader.
| 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 |
| Broker Screenshots | City Index | Octa | |
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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 | 257 | |
| 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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