Written by ForexBrokers.com
In this head to head comparison of eToro 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.
eToro and Octa are both popular online brokers that offer services to traders worldwide. eToro was founded in 2007, while Octa has been around since 2011. Neither company is publicly traded or operates as a bank. In terms of regulatory standing, eToro holds three Tier-1 licenses, which are highly trusted by ForexBrokers.com, compared to Octa's one. Both platforms have earned one Tier-2 license, deemed trusted. eToro's Trust Score is an impressive 93 out of 99, indicating a high level of trust, whereas Octa scores a Trust Score of 72, signifying an average risk profile.
The differences in Trust Scores and regulatory licenses reflect eToro's stronger perceived reliability in the trading community. While both brokers are legitimate options for traders, those placing a higher emphasis on licensing and trust may prefer eToro, given its greater number of Tier-1 licenses and superior trust rating. However, individual needs and trading preferences should guide any decision-making process.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Year Founded | 2007 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When evaluating online brokers eToro and Octa for their commissions and fees, distinct differences emerge. eToro, known more for its innovative social copy trading platform than for competitive spreads, lists a typical variable spread of 1 pip on the EUR/USD, which is slightly higher than the industry average. This spread is one consideration for traders, especially retail traders, who might find more appeal in eToro's social trading capabilities. Additionally, eToro offers a VIP club with five tiers—ranging from Silver to Diamond—providing perks like access to Trading Central and discounted fees for those maintaining balances between $5,000-$250,000. eToro shines with a 4.5-star rating and holds the 22nd spot out of 62 brokers in the Commissions and Fees category according to ForexBrokers.com.
Octa's approach to commissions and fees shows vast improvements, making it a strong contender amongst low-cost MetaTrader brokers. It boasts no slippage on 97.5% of executed orders and forgoes overnight carry costs, though it implements restrictions that might limit high-frequency trading. The costs associated with Octa depend heavily on the account type and the regulatory entity overseeing the account, offering slightly better spreads under its EU operation with an average of 0.5 pips for the EUR/USD pair, compared to 0.9 pips for other entities. Octa scores just slightly lower with 4 stars and ranks 28th in ForexBrokers.com's Commissions and Fees listing, reflecting its competitiveness and recent enhancements in pricing.
While both brokers have their respective strengths—eToro with its social trading features and club benefits, and Octa with its improving pricing and Metatrader compatibility—the choice between them may ultimately depend on a trader's specific needs and preferences. eToro caters to those interested in community-based trading experiences, while Octa is appealing for those seeking cost efficiency and minimal slippage. Considering their ratings and rankings, potential traders can gauge which broker aligns best with their trading strategies and financial goals.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $25 |
| Average Spread EUR/USD - Standard | 1 | 0.9 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | 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.
eToro and Octa both offer forex trading through CFDs, but the range of investments they provide differs significantly. eToro shines with a broad selection of 5,461 tradeable symbols, including 55 forex pairs, allowing traders to dive into various markets. In contrast, Octa offers a more limited array of 257 tradeable symbols, which includes 35 forex pairs. Beyond forex, eToro offers the unique advantage of purchasing exchange-traded securities on U.S. exchanges, enabling investors to buy shares of well-known companies like Apple directly. Although both platforms allow trading international exchange-traded securities and support copy trading, only eToro provides the option to buy both actual cryptocurrencies and their derivatives.
Adding further depth to their investment offerings, eToro supports the purchase of actual cryptocurrencies, whereas Octa only offers cryptocurrency derivatives. This extensive range of options earned eToro a 5-star rating and a commendable #10 rank for range of investments by ForexBrokers.com. On the other hand, Octa received a 3.5-star rating, landing at the #52 position. These ratings reflect how eToro caters to both novice and seasoned investors with diverse interests, while Octa may appeal more to those who prefer a narrower set of options.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 257 |
| Forex Pairs (Total) | 55 | 35 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | 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 online trading platforms of eToro and Octa, both brokers offer a fulfilling experience with their array of features, but they cater to different trading preferences. Both platforms provide a free virtual trading account, which is ideal for beginners seeking to practice without exposing themselves to real market risks. Each broker boasts a proprietary platform developed in-house, aiming to meet their users' unique trading requirements. However, while eToro does not support a Windows-based desktop download platform, Octa does, appealing to traders who prefer a downloadable software. Both brokers offer web-based platforms, ensuring easy access from different devices, but only Octa provides popular trading tools like MetaTrader 4 and MetaTrader 5. This is beneficial for those who favor these widely recognized platforms for their advanced features and reliability.
In terms of additional features, both eToro and Octa facilitate copy trading, allowing users to mimic the strategies of accomplished traders. Charting capabilities differ slightly between the two, with eToro offering more drawing tools—161 compared to Octa's 15—though Octa allows direct trading from a stock chart, whereas eToro doesn't. For watchlist customization, Octa stands out slightly with 7 column options against eToro's 6. According to rankings by ForexBrokers.com, eToro edges ahead with a 4.5-star rating for its trading platforms and tools, while Octa earns a solid 4 stars. Moreover, eToro ranks significantly higher for its trading platform features, placing 8th out of 62 brokers, compared to Octa's position at 37th, highlighting eToro's stronger platform and tool offerings.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 104 | 30 |
| Charting - Drawing Tools (Total) | 161 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
eToro and Octa both offer iPhone and Android apps for those interested in mobile trading, with essential features like price alerts and real-time quotes available on both platforms. eToro takes the lead with 104 technical studies for charting in its app, providing a comprehensive toolkit compared to Octa's 30 studies. Another edge for eToro is the ability for users to sync watchlist symbols between the app and their online accounts, making it more convenient for traders to manage their portfolios. While eToro allows viewing multiple time frames on charts, it lacks trendline drawing capabilities, a feature that Octa provides along with automatic saving of drawings.
For users focused on convenience and a broader range of technical analysis options, eToro's app might be the preferred choice, reflected in its 4.5-star rating in contrast to Octa's 4 stars. This is further emphasized by eToro's higher ranking of #11 out of 62 brokers for mobile trading apps, compared to Octa's rank at #36. Whether your priority is syncing capabilities or advanced charting tools, both platforms offer competitive options to suit different trading needs.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, both eToro and Octa offer daily market commentary and provide an economic calendar displaying global news events, making it easy for users to stay informed. However, they differ in other aspects of their research offerings. eToro supports sentiment-based trading tools, offering insights into the ratio of long or short positions in various markets. It also provides research through Trading Central and TipRanks, which enhances the analysis experience by delivering in-depth evaluations and expert opinions. In contrast, Octa shines with forex news from industry-leading sources such as Bloomberg, Reuters, and Dow Jones, as well as offering technical analysis tools from Autochartist.
eToro is rated 4.5 stars for research and is ranked #13 by ForexBrokers.com among 62 brokers, reflecting its strong position in the research category. Octa, with a respectable 4-star rating, is ranked #26, showcasing its solid research capabilities but indicating room for improvement. Therefore, individuals seeking extensive research services might prefer eToro, whereas those prioritizing real-time news from top-tier sources may lean toward Octa. Ultimately, the choice depends on the type of market insights a user finds most valuable.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners in the trading world, both eToro and Octa offer a comprehensive suite of tools designed to help new traders gain confidence. Beginner traders can find more than ten pieces of educational content about forex or CFDs on both platforms. These materials include articles, videos, and archived webinars. Additionally, both eToro and Octa host online webinars for clients each month, providing access to live educational content. For those who prefer learning at their own pace, both brokers maintain a searchable archive of past webinars, making it easy to revisit previous lessons. Beginner-focused video content is abundant, with each platform providing at least ten videos specifically crafted for those new to trading.
For more advanced traders, eToro and Octa also offer a selection of videos that dive into complex trading topics. They complement this with extensive investor dictionaries, containing over 50 trade-related terms to boost user understanding. These educational features collectively enhance the learning experience. In terms of education ratings, eToro slightly outshines Octa, earning 4.5 stars compared to Octa's 4 stars. This is further reflected in their rankings by ForexBrokers.com, where eToro claims the impressive 5th spot out of 62 brokers, while Octa is positioned at 41st. Each platform caters to a range of educational needs, though eToro seems to have a slight edge in offering more comprehensive resources.
| Feature |
eToro
|
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 eToro is better than Octa. eToro finished with an overall rank of #9, while Octa finished with an overall rank of #47.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
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Octa
|
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| Overall Rating |
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| Trust Score | 93 | 72 |
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eToro allows users to purchase both actual cryptocurrencies and derivatives, while Octa only offers the option to trade cryptocurrency derivatives.
eToro stands out by offering a diverse range of payment options, including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, whereas Octa provides limited options by excluding ACH, SEPA, and PayPal, though it supports Skrill, Visa, Mastercard, and bank wires.
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 | eToro | Octa | |
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| Trust Score | 93 | 72 | |
| Winner | check_circle | ||
| Review | eToro Review | Octa Review |
| Broker Screenshots | eToro | Octa | |
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| Regulation | eToro | Octa | |
|---|---|---|---|
| Trust Score | 93 | 72 | |
| Year Founded | 2007 | 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 | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | eToro | 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) | eToro | 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 | eToro | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 257 | |
| Forex Pairs (Total) | 55 | 35 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | eToro | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | 0.9 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | Octa | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $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 | Yes | No |
| Trading Platforms | eToro | Octa | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | eToro | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 104 | 30 | |
| Charting - Drawing Tools (Total) | 161 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | 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 | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | eToro | 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 | eToro | 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 | eToro Review | Octa Review |
| Overall | eToro | Octa | |
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| Trust Score | 93 | 72 | |
| Winner | check_circle | ||
| Review | eToro Review | Octa Review |
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