Written by ForexBrokers.com
In this head to head comparison of FP Markets 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.
FP Markets, founded in 2005, stands out with its solid reputation and trustworthiness in the online brokerage space. It holds two Tier-1 licenses and one Tier-2 license, which are significant indicators of reliability and safety for its clients. As per ForexBrokers.com, FP Markets boasts a Trust Score of 89, categorizing it as a trusted broker. It's important to note that FP Markets is not publicly traded and does not operate as a bank, but it has built a strong presence over the years, catering to the needs of traders globally.
Octa, which entered the market in 2011, is another player in the world of online brokerage. It carries one Tier-1 license and one Tier-2 license, reflecting its moderate standing in terms of regulatory trust. With a Trust Score of 72 according to ForexBrokers.com, Octa is seen as an average risk broker. Like FP Markets, Octa is neither publicly traded nor a bank, but it serves its clientele with a variety of trading options and services.
| Feature |
FP Markets
|
Octa
|
|---|---|---|
| Year Founded | 2005 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
FP Markets and Octa are two online brokers that offer different experiences when it comes to commissions and fees. FP Markets shines with its competitive pricing, especially for its commission-based ECN account offering through MetaTrader and cTrader, awarding it 'Best in Class' for Commissions and Fees in 2024. The FP Markets Raw ECN account offers favorable spreads averaging 0.1 pips (0.8 pips all-in including commission), whereas its Standard account features slightly higher spreads, averaging 1.1 pips for the EUR/USD as of October 2023. Despite the competitive pricing, their Iress ViewPoint account is targeted toward high-balance, active traders, with substantial deposit requirements to avoid platform fees. FP Markets receives a 5-star rating and ranks #6 out of 62 brokers for its commission and fees prowess.
Octa has made significant strides in improving its pricing, moving towards the lower end of the cost spectrum among MetaTrader brokers. The broker is known for its no slippage on 97.5% of executed orders and waiver of overnight carry costs, although restrictions may affect high-frequency traders. Octa's commissions depend on the account type and regulatory region—be it the EU, South Africa, or the offshore entity in Mwali. Notably, spreads vary among different entities, with the EU entity offering a slightly lower spread of 0.5 pips for the EUR/USD compared to 0.9 pips elsewhere. However, the lack of a date range for typical spread data on their site makes precise comparisons tricky. Octa is rated with 4 stars and is ranked #28 out of 62 brokers in the Commissions and Fees category.
In summary, both brokers cater to different needs with their unique offerings. FP Markets stands out for its comprehensive ECN account with transparent pricing, best suited for active traders with higher capital. Octa has caught up in terms of pricing structure, making it a viable option for cost-conscious traders, though transparency in spread history could further enhance its appeal. Depending on your trading style and financial conditions, either broker could fulfill your requirements effectively.
| Feature |
FP Markets
|
Octa
|
|---|---|---|
| Minimum Deposit | $100 AUD | $25 |
| Average Spread EUR/USD - Standard | 1.2 | 0.9 |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | 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 investment options, FP Markets offers a significantly wider array than Octa. FP Markets provides access to an impressive 10,000 tradeable symbols, including 71 forex pairs, allowing for greater diversity in trading choices. While both brokers support forex trading as contracts for difference (CFDs) or spot contracts and offer cryptocurrency derivatives, FP Markets stands out with a higher rating of 4.5 stars for its range of investments. Furthermore, FP Markets holds a notable ranking of 18th out of 62 brokers in the Range of Investments category by ForexBrokers.com, underscoring its strong position in the industry.
On the other hand, Octa offers a smaller selection with 300 tradeable symbols and 35 forex pairs. Although Octa also provides services such as copy trading and cryptocurrency derivatives, it lacks access to the same breadth of assets as FP Markets. However, Octa does offer the capability to trade exchange-traded securities on international exchanges, a feature not available with FP Markets. Despite these offerings, Octa's range of investments is rated at 3.5 stars and ranks 52nd out of 62 brokers in the same category, indicating a more limited selection compared to FP Markets.
| Feature |
FP Markets
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 300 |
| Forex Pairs (Total) | 71 | 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 FP Markets and Octa on their trading platforms and tools, both brokers provide numerous features for traders looking to explore the markets efficiently. Both FP Markets and Octa offer virtual demo accounts and proprietary, web-based, and Windows-compatible desktop platforms, making it easy for traders to test strategies and trade both from desktop and online. Moreover, both platforms support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), popular choices for currency trading. They also offer features like copy trading, though neither supports DupliTrade or ZuluTrade. While FP Markets edges out slightly with 17 drawing tools for charting compared to Octa’s 15, both platforms allow users to trade directly from stock charts.
In terms of customization, FP Markets and Octa each offer 7 columns for watch lists, though neither broker has specified the number of technical indicators available for charting. Despite these similarities, a noteworthy distinction lies in their rankings by ForexBrokers.com for Trading Platforms and Tools, where FP Markets ranks 23rd and Octa ranks 37th among 62 brokers. Nonetheless, both share a commendable platform rating of 4 out of 5 stars, suggesting they offer comparable overall experiences for traders who prioritize varied and accessible trading tools.
| Feature |
FP Markets
|
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) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FP Markets and Octa offer mobile trading apps for iPhone and Android devices, providing users with convenient access to forex trading on the go. Both apps include essential features like stock or forex price alerts and the ability to create watchlists with real-time quotes. However, neither platform offers watchlist symbol syncing, which means any changes made to watchlists on the mobile apps won't automatically reflect on the online accounts and vice versa.
FP Markets stands out slightly with its MetaTrader default charting features, allowing traders to draw trendlines and view multiple time frames, alongside automatic saving of chart drawings. Octa, on the other hand, offers 30 technical studies for its charting, matching FP Market's capability of trendline drawing and time frame variety. Both platforms receive a solid four-star rating for their mobile trading apps, but FP Markets holds a higher ranking at #18 compared to Octa's #35, according to ForexBrokers.com. This indicates a slight edge for FP Markets in the mobile app experience.
| Feature |
FP Markets
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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.
When comparing FP Markets and Octa in terms of market research features, both brokers provide a solid foundation for informed trading. Both offer daily market commentary and forex news from reputable sources such as Bloomberg, Reuters, and Dow Jones. They also make use of Autochartist's technical and fundamental analysis tools, making it easier for traders to recognize patterns and gain insights. However, FP Markets has the additional benefit of offering Trading Central's tools, including Technical Analytics, along with a sentiment-based trading tool that shows the ratio of long or short positions across various instruments. These extra features may appeal to traders who rely heavily on technical insights and sentiment analysis.
Both platforms have economic calendars to keep traders updated on significant global news events impacting various economies. Despite some differences in their research offerings, each broker is highly regarded, with FP Markets earning a 4-star rating, placing it at number 25 out of 62 brokers according to ForexBrokers.com. Octa shares the same star rating but is ranked slightly lower at number 26. Ultimately, while both brokers excel in offering valuable market insights, FP Markets may cater slightly more to traders who prioritize comprehensive technical and sentiment analysis tools.
| Feature |
FP Markets
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | 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.
FP Markets and Octa both excel in providing educational resources tailored for beginners interested in trading forex or CFDs. Each platform offers a comprehensive suite of over 10 educational pieces, including articles, videos, and archived webinars, making it easier for newcomers to gain a solid understanding of trading basics. Both FP Markets and Octa conduct regular webinars, hosting at least one live session monthly, and maintain a searchable archive of past webinars. This enables users to learn at their own pace and revisit educational content as needed.
For traders seeking video content, both brokers deliver, offering over 10 beginner-focused trading videos as well as more advanced tutorials for experienced traders. Additionally, FP Markets and Octa support learners with a dictionary of investing terms, each featuring definitions for over 50 key phrases. Both brokers have received a solid educational rating of 4 out of 5 stars. However, when comparing their ranks among 62 brokers, FP Markets holds the 23rd position, whereas Octa is placed at 41st, hinting that FP Markets might have a slight edge in their educational offerings according to ForexBrokers.com.
| Feature |
FP Markets
|
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 FP Markets is better than Octa. FP Markets finished with an overall rank of #19, while Octa finished with an overall rank of #47.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 72 |
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Both FP Markets and Octa provide the option to trade cryptocurrency derivatives, but neither offers the ability to purchase actual, delivered cryptocurrency.
While both FP Markets and Octa offer Visa, Mastercard, Skrill, and bank wire transfer options for deposits and withdrawals, FP Markets distinguishes itself by also supporting PayPal, whereas neither broker supports ACH or SEPA transfers.
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 | FP Markets | Octa | |
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| Trust Score | 89 | 72 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Octa Review |
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| Regulation | FP Markets | Octa | |
|---|---|---|---|
| Trust Score | 89 | 72 | |
| Year Founded | 2005 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | 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) | No | 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) | FP Markets | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 300 | |
| Forex Pairs (Total) | 71 | 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 | FP Markets | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | Octa | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $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 | FP Markets | 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) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | 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) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | Octa | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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 | FP Markets | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | 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 | FP Markets | 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 | FP Markets Review | Octa Review |
| Overall | FP Markets | Octa | |
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| Trust Score | 89 | 72 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Octa Review |
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