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 it comes to comparing the commissions and fees of online brokers eToro and Octa, there are several factors to consider. eToro is known for its market-maker model with a typical variable spread of 1 pip on the EUR/USD pair, which is slightly above the industry average. While its spreads aren't the main attraction, eToro is favored by retail traders for its social copy trading platform. Additionally, eToro offers a VIP club with tiered membership, presenting traders who maintain balances from $5,000 to $250,000 with exclusive benefits such as access to trading insights from Trading Central, reduced withdrawal and deposit fees, and personalized account management. Overall, eToro enjoys a commendable 4.5-star rating for commissions and fees and is ranked #22 out of 62 brokers in this category by ForexBrokers.com.
Octa, on the other hand, has made significant improvements in its pricing strategy and is now considered competitive among the lowest-cost MetaTrader brokers. Octa boasts no slippage on a majority of executed orders and avoids overnight carry costs, though it has some restrictions that may impact high-frequency traders. The fees and commissions at Octa vary based on the selected account type and the regulatory entity under which the account is held. European Union clients use the EU-regulated Octa entity, which promotes MT5 with a single account option, whereas international clients can choose between accounts that support both MT4 and MT5 via Octa entities based in South Africa or offshore in Mwali. Octa's EU entity offers a slightly better average spread of 0.5 pips for the EUR/USD pair compared to the 0.9 pips listed for its foreign entities. Despite these improvements, the lack of a specified date range for Octa's typical spread data makes it hard to compare definitively. Octa is rated 4 stars for commissions and fees and holds the #29 spot out of 62 brokers as per ForexBrokers.com rankings.
In summary, eToro and Octa both offer unique advantages when it comes to fees and commissions, with eToro excelling in providing a robust social trading experience alongside VIP perks, while Octa has made strides in competitive pricing within the MetaTrader brokerage space. Both brokers cater to different trading preferences, making your choice dependent on whether you're drawn to eToro’s copy trading or Octa’s improved cost structure. Each has its strengths, reflected in their respective rankings and star ratings in the competitive landscape of online trading.
| 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.
When comparing eToro and Octa for the range of investments they offer, eToro stands out with a substantial selection, providing access to 5461 tradeable symbols compared to Octa's 300. Both platforms offer forex trading through CFDs or spot contracts, but eToro offers a wider variety with 55 tradeable forex pairs in contrast to Octa's 35. Additionally, eToro allows clients to buy exchange traded securities directly on both U.S. and international exchanges, whereas Octa only supports international securities. eToro further extends its investment range with the ability to purchase actual cryptocurrencies, unlike Octa, which only offers cryptocurrency derivatives.
Both eToro and Octa support copy trading, allowing users to mirror the trades of experienced investors. While both platforms offer diverse investment options, eToro's extensive selection earns it a 5-star rating for Range of Investments, and it's ranked #10 out of 62 brokers by ForexBrokers.com. On the other hand, Octa's range is rated at 3.5 stars and holds the #52 spot in the same category. These differences highlight eToro's advantage in delivering a comprehensive range of investment choices suited for varying trader preferences.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 300 |
| 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.
Both eToro and Octa offer mobile trading apps for iPhone and Android users, making it simple to trade on the go. They also both provide stock or forex price alerts and allow for watchlists with real-time quotes. However, eToro shines with its feature of syncable watchlist symbols, enabling seamless integration between its mobile app and the online account, a feature missing in Octa's offering. While Octa allows users to draw trendlines and saves these drawings automatically, eToro does not offer this functionality. Yet, eToro impresses with 104 technical studies available in its charting options, compared to Octa's 30, providing traders with more analytical tools. Both platforms permit viewing charts in different time frames, including daily, weekly, and intraday.
When it comes to overall user satisfaction, eToro is rated higher at 4.5 stars for its mobile trading app, while Octa rates slightly lower at 4 stars. This is reflected in their rankings on ForexBrokers.com, with eToro positioned at #10, compared to Octa's #35 out of 62 brokers. The advanced features and user-friendly design might explain why eToro has a better rating and ranking. Nonetheless, both platforms cater to traders seeking straightforward mobile trading solutions. Ultimately, your choice may depend on which features are more crucial for your trading strategy and habits.
| 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, both eToro and Octa shine by offering a wide selection of materials. These include articles, videos, and archived webinars that cover topics on forex and CFDs. Each broker provides at least ten educational pieces aimed specifically at new traders. Furthermore, they host at least one online educational webinar per month, ensuring consistent opportunities for learning. Both platforms also maintain a searchable archive of these webinars, so users can revisit them whenever needed. Additionally, they each offer a collection of at least ten beginner-focused educational videos, alongside content tailored for more advanced traders, ensuring that a variety of learning needs are met.
Beyond videos and webinars, eToro and Octa each provide an investor dictionary containing definitions for more than fifty investment terms, assisting users in familiarizing themselves with the trading language. However, eToro edges out Octa in overall educational quality with a 4.5-star rating compared to Octa's 4-star rating, according to evaluations. This higher rating reflects an impressive array of learning tools, resulting in eToro being ranked fifth for education out of 62 brokers on ForexBrokers.com, whereas Octa is positioned at forty-second. Overall, both platforms offer rich educational experiences, but eToro stands out slightly for those who place a premium on comprehensive educational support.
| 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
|
Octa
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 93 | 72 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | eToro | Octa | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 72 | |
| Winner | check_circle | ||
| Review | eToro Review | Octa Review |
| Broker Screenshots | eToro | Octa | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| 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 | 300 | |
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 72 | |
| Winner | check_circle | ||
| Review | eToro Review | Octa Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill