Written by ForexBrokers.com
In this head to head comparison of Eightcap 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.
When it comes to online brokers, Eightcap and Octa offer different levels of trustworthiness and regulatory oversight. Eightcap, founded in 2009, holds three Tier-1 licenses, which are highly respected in the industry, and has an overall Trust Score of 85 out of 99, according to ForexBrokers.com. This score indicates that Eightcap is considered a trusted broker. In comparison, Octa, established in 2011, holds just one Tier-1 license and one Tier-2 license, achieving a Trust Score of 72 out of 99, categorizing it as average risk. Both brokers are privately held and not tied to banks, providing investors with straightforward brokerage services.
Choosing between these two brokers involves considering their founding years, license holdings, and trust scores. Eightcap presents a well-regarded option with more Tier-1 licenses and a higher trust rating, suggesting a stronger position in the market. On the other hand, Octa has fewer high-level licenses and a lower trust rating, which might appeal to those who are exploring brokers with a moderate risk profile. Both brokers share the feature of being independent entities not associated with banks, inviting potential clients to weigh their options based on licenses and trust scores.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Year Founded | 2009 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing Eightcap and Octa for commissions and fees, both brokers offer competitive pricing structures, albeit with some differences. Eightcap provides two account types across its global entities, such as those in Australia and the Bahamas. You can opt for a commission-based Raw account with an average spread of 0.06 pips, which translates to an all-in cost of about 0.76 pips after adding a $3.50 per-side commission. Though this is slightly under the industry average of 0.8 pips, Eightcap remains somewhat more expensive than the lowest-cost forex brokers. Eightcap earns a solid 4-star rating for commissions and fees, ranking #26 out of 62 brokers by ForexBrokers.com.
Octa, on the other hand, has shown significant improvement in its fee structure, gaining on some of the most economical MetaTrader brokers. Octa offers no slippage on 97.5% of executed orders and avoids overnight carry costs, though certain restrictions might hinder high-frequency traders. Depending on your location, Octa provides different account types regulated under its EU, South African, or offshore Mwali entities. The spread pricing varies, with the EU entity offering slightly better spreads for the EUR/USD pair at 0.5 pips compared to 0.9 pips in foreign entities. However, these spread values are not backed by specific date ranges, making precise comparisons challenging. Despite this, Octa still maintains a 4-star rating for commissions and fees and is ranked #28 out of 62 brokers by ForexBrokers.com.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Minimum Deposit | $100 | $25 |
| Average Spread EUR/USD - Standard | 1.0 | 0.9 |
| All-in Cost EUR/USD - Active | 0.76 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the variety of investments, Eightcap and Octa both provide forex trading through CFDs and spot contracts, offering traders flexibility in their strategies. Eightcap stands out with an impressive range of 736 tradeable symbols, surpassing Octa's 257 options. In terms of forex pairs, Eightcap offers 56, while Octa lists 35. Neither broker offers exchange-traded securities on U.S. exchanges like Apple shares, but only Octa provides access to international securities, such as Vodafone shares. Both platforms provide opportunities for copy trading and are well-suited for cryptocurrency enthusiasts, as they permit trading of cryptocurrency derivatives, though neither offers the ability to buy actual cryptocurrencies.
In user ratings, both Eightcap and Octa score 3.5 out of 5 stars for their range of investments, indicating a solid offering. However, when ranked by ForexBrokers.com, Eightcap is positioned at #40, placing it ahead of Octa, which holds the #52 spot out of 62 brokers. This suggests that Eightcap might deliver a slightly wider selection and appeal in the investment options compared to Octa. Nevertheless, both brokers equip traders with essential tools to explore diverse markets, with Eightcap particularly excelling in the number of tradeable symbols and forex pairs available.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 736 | 257 |
| Forex Pairs (Total) | 56 | 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 the trading platforms and tools of Eightcap and Octa, both brokers come equipped with various features that cater to both beginner and seasoned traders. Eightcap and Octa offer free virtual demo accounts, making it easy for users to practice their strategies without financial risk. While both brokers provide popular trading platforms such as MetaTrader 4 and MetaTrader 5, Octa offers an additional edge with its proprietary trading platform. However, both companies allow trading directly from stock charts and include a respectable number of drawing tools and technical indicator options.
In terms of trading platforms, Eightcap and Octa each support Windows-based desktop downloads and web-based platforms, facilitating versatile trading experiences. Copy trading is available with both brokers, though neither provide services such as DupliTrade or ZuluTrade. When evaluating watchlist features, both offer seven fields, ensuring organized tracking of preferred stocks. Despite having similar offerings, Octa slightly edges ahead in rankings according to ForexBrokers.com, placing 37th out of 62 brokers for Trading Platforms and Tools, while Eightcap follows closely at 38th. Both brokers have earned a solid 4-star rating for their platforms and tools, reflecting a comprehensive suite that meets the modern trader's needs.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Eightcap and Octa, both platforms provide versatile options for traders using iPhone and Android devices. They each offer stock and forex price alerts, the ability to draw trendlines, and access to thirty technical studies for comprehensive chart analysis. Furthermore, both apps automate the saving of chart drawings and facilitate viewing in multiple time frames such as daily, weekly, or intraday. Additionally, real-time quote watchlists enhance user trading experiences on both platforms.
Despite these similarities, there are notable differences. Eightcap's app allows watchlist symbol syncing with a client's online account, offering seamless management across platforms, a feature not available with Octa. In terms of rankings, both providers receive a four-star rating for their mobile apps, with Eightcap ranking 38th and Octa slightly ahead at 36th out of 62 brokers according to ForexBrokers.com. These differences might influence user choice based on personal trading needs and preferences.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 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.
Eightcap and Octa both provide valuable daily market commentary and maintain economic calendars that cover key global events. However, when it comes to forex news from top-level sources such as Bloomberg or Reuters, only Octa offers this service. Additionally, Octa takes the lead by offering Autochartist's technical analysis tools, which is not available from Eightcap. While neither broker provides resources from Trading Central or TipRanks, Eightcap does offer a unique sentiment-based trading tool that Octa lacks.
Overall, these differences influence their respective ratings and rankings. Eightcap scores 3.5 stars in research, landing at the 39th position out of 62 brokers according to ForexBrokers.com. In contrast, Octa earns a 4-star rating and holds a more favorable position at number 26, highlighting its broader set of research tools and resources. This makes Octa a stronger option for traders looking for comprehensive market research features.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | 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 Eightcap and Octa extend a helpful array of educational resources for those diving into forex and CFD trading. They each offer at least ten educational pieces, including articles and videos, focused on these trading topics. Eightcap differs from Octa by providing a searchable archive of previously recorded webinars, and enriches its educational offerings with videos specifically tailored for beginners. It also features an investor dictionary with definitions for over 50 investing terms, simplifying complex financial jargon for new traders.
On the other hand, Octa stands out with monthly educational webinars that keep clients updated with the latest insights and trends. This broker also offers a broader range of advanced videos, catering to experienced traders who seek to deepen their expertise. Both brokers include a searchable archive of recorded webinars, enhancing the learning experience by allowing users to revisit past sessions. Rated at 4 stars for its educational offerings, Octa holds a slight edge over Eightcap's 3.5 stars, yet it ranks just behind Eightcap on ForexBrokers.com, coming in at #41, compared to Eightcap's #40. This comparison presents a nuanced choice for beginners, where each platform has distinct strengths.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | 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 Eightcap is better than Octa. Eightcap finished with an overall rank of #38, while Octa finished with an overall rank of #47.
Eightcap enhances its status as a MetaTrader-only broker with support for a suite of third-party plug-ins and access to Capitalise.ai’s algorithmic trading platform.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 85 | 72 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both Eightcap and Octa provide options to trade cryptocurrency derivatives, but neither broker offers the ability to purchase actual, delivered cryptocurrency.
When comparing online brokers Eightcap and Octa regarding payment options for deposit and withdrawal, neither supports ACH or SEPA transfers, but Eightcap has the advantage of offering PayPal alongside Skrill, Visa, Mastercard, and bank wire options, while Octa provides Skrill, Visa, Mastercard, and bank wire services but does not support PayPal.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Eightcap | Octa | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 85 | 72 | |
| Winner | check_circle | ||
| Review | Eightcap Review | Octa Review |
| Broker Screenshots | Eightcap | Octa | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | Eightcap | Octa | |
|---|---|---|---|
| Trust Score | 85 | 72 | |
| Year Founded | 2009 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Eightcap | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | 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) | Eightcap | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Eightcap | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 736 | 257 | |
| Forex Pairs (Total) | 56 | 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 | Eightcap | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.0 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.76 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Eightcap | Octa | |
|---|---|---|---|
| Minimum Deposit | $100 | $25 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Eightcap | Octa | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Eightcap | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Eightcap | 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 | 30 | 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 | Eightcap | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Eightcap | Octa | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Eightcap | 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 | Eightcap Review | Octa Review |
| Overall | Eightcap | Octa | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 85 | 72 | |
| Winner | check_circle | ||
| Review | Eightcap Review | Octa Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill