Written by ForexBrokers.com
In this head to head comparison of Octa vs FXOpen, 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 choosing an online broker, understanding their regulatory background can be important. Octa, founded in 2011, and FXOpen, established in 2003, each hold different positions in terms of trustworthiness and regulatory compliance. According to ForexBrokers.com, Octa has a Trust Score rating of 72, which places it in the average risk category. It holds one Tier-1 license and one Tier-2 license, allowing it a mix of high trust and trust ratings. While not publicly traded and not functioning as a bank, Octa still offers a solid foundation for traders looking for regulated options.
On the other hand, FXOpen has a slightly higher Trust Score rating of 76, also marking it as average risk. It surpasses Octa in regulatory licenses, holding two Tier-1 licenses, which are highly trusted. Like Octa, FXOpen is neither publicly traded nor a bank. These factors make FXOpen a slightly more secure choice for those prioritizing regulation in their trading activities. Ultimately, both brokers provide trusted environments for online trading, with FXOpen holding a slight edge in regulatory trust.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Year Founded | 2011 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing online brokers Octa and FXOpen in terms of commissions and fees, both brokers offer competitive pricing but have unique differences. Octa has significantly enhanced its pricing structure, approaching the lowest-cost MetaTrader brokers while providing added benefits such as no slippage on 97.5% of executed orders and no overnight carry costs. However, account types and corresponding fees at Octa vary depending on geographic location. European clients access a single MT5 account, whereas international clients can choose from MT4, MT5, and OctaTrader accounts through different Octa entities. Octa's spread pricing fluctuates, with the EU entity offering slightly better rates for the EUR/USD pair at 0.5 pips, compared to 0.9 pips for its foreign counterparts.
On the other hand, FXOpen does not provide average spread data, making a precise comparison challenging. Nonetheless, FXOpen maintains a competitive edge in the market, aligning with Octa in achieving a 4-star rating for commissions and fees. Both brokers offer efficient account types and platforms for traders, although Octa's lack of specific date data for its spread values may leave some traders seeking greater transparency.
In terms of ranking, Octa outshines FXOpen, securing the 28th position out of 62 brokers in the Commissions and Fees category on ForexBrokers.com. FXOpen ranks at 45th, illustrating a slightly lesser standing compared to Octa. Despite the absence of spread data for FXOpen, both brokers cater effectively to traders seeking cost-effective and proficient trading solutions.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $25 | $100 |
| Average Spread EUR/USD - Standard | 0.9 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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 range of investments, Octa and FXOpen both provide opportunities for forex trading via CFDs and spot contracts. Octa stands out with a total offering of 257 tradeable symbols compared to FXOpen's 87. For those focused on forex pairs, Octa offers 35 options whereas FXOpen provides 25. However, neither platform allows clients to buy U.S. exchange-traded securities directly, like Apple shares. That said, Octa gives investors the ability to buy international exchange-listed stocks such as Vodafone, a feature FXOpen does not support.
On the cryptocurrency front, both platforms enable trading through derivatives but not via actual cryptocurrency purchases. Copy trading enthusiasts will find this feature available on both Octa and FXOpen. In terms of ratings, Octa receives 3.5 out of 5 stars for its range of investments, slightly ahead of FXOpen's 3 stars. According to ForexBrokers.com, Octa is ranked 52nd out of 62 brokers, while FXOpen is positioned at 61st, showcasing Octa's somewhat broader investment range.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 257 | 87 |
| Forex Pairs (Total) | 35 | 25 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing the online trading platforms of Octa and FXOpen, both brokers provide a comprehensive range of features tailored for traders of all levels. Each offers a free virtual demo account, enabling traders to practice without risk. Octa stands out with its proprietary platform, developed in-house, while FXOpen relies on well-established third-party software. Both brokers offer Windows-based desktop platforms and web-based platforms, along with popular options like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). With both offering copy trading services, Octa and FXOpen cater to the needs of traders looking to replicate strategies from successful investors. However, only FXOpen supports ZuluTrade, a distinct platform for social trading enthusiasts.
Chart analysis capabilities are comparable between both brokers, with each providing 15 drawing tools to aid in technical analysis. Traders will find the functionality of trading directly from stock charts available with both Octa and FXOpen. Watch lists are also equally detailed, offering seven fields to customize options for market analysis. While both brokers receive a commendable rating of 4 out of 5 stars for their trading platforms and tools, Octa holds a slightly higher rank, positioned at #37 compared to FXOpen's #53 according to ForexBrokers.com. This suggests that traders may find a subtle edge with Octa's overall platform offering, although both provide solid environments for trading activities.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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 | Yes |
| 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 Octa and FXOpen, both brokers cater to iPhone and Android users, offering apps with strong features for forex and stock trading. Both platforms allow traders to create watchlists with real-time quotes and set alerts, ensuring you stay updated on market changes. They also provide 30 technical studies for chart analysis, support drawing trendlines, and offer multiple time frame views. However, Octa stands out by automatically saving chart drawings, a feature that FXOpen lacks.
Despite both brokers earning a solid 4-star rating, Octa ranks higher at #36 compared to FXOpen's #54 in the Mobile Trading Apps category by ForexBrokers.com. Unfortunately, neither app syncs watchlist symbols between mobile and online accounts, which may be a consideration if seamless integration between platforms is a priority for you. Overall, while both apps are highly rated and feature-rich, Octa's ability to auto-save drawings might give it an edge for traders who rely on technical analysis when on the go.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | 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 | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Octa and FXOpen for market research offerings, both brokers provide daily market commentary and forex news from top-tier sources like Bloomberg and Reuters. This ensures traders stay informed with the latest news and insights. However, a key difference lies in the availability of research tools. Octa offers technical analysis tools from Autochartist, enhancing its research capabilities, while FXOpen does not offer tools from this company. Neither broker provides tools from Trading Central or sentiment-based trading features, focusing more on direct market information.
Both brokers feature economic calendars to help traders track global news events. Despite these similarities, Octa earns a higher research rating with four stars compared to FXOpen's three-star rating. Furthermore, Octa ranks 26th among 62 brokers in the research category on ForexBrokers.com, significantly higher than FXOpen's 62nd place ranking. These differences highlight Octa's slightly stronger emphasis on providing comprehensive market research resources to its users.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational offerings for beginners by online broker Octa and FXOpen, it becomes clear that Octa takes the lead with a variety of engaging resources. Octa provides more than 10 educational pieces focusing on forex and CFDs, ensuring beginners have ample content to guide them through their trading journey. Additionally, Octa offers monthly online webinars and a searchable archive of past sessions, which is a great resource for continuous learning. Beginners can also benefit from over 10 beginner-friendly videos detailing essential trading topics, along with more advanced content for those looking to deepen their knowledge. Furthermore, Octa includes an investor dictionary with over 50 investing terms to help newcomers understand the trading language. This extensive range of educational tools earns Octa a four-star rating in the Education category, ranking it 41st out of 62 brokers on ForexBrokers.com.
In contrast, FXOpen's educational resources for beginners fall short in comparison. While it provides an investor dictionary similar to Octa's, FXOpen lacks a comprehensive suite of educational materials. It does not offer the minimum of 10 educational pieces focusing on forex and CFDs, nor does it have regular webinars or a collection of recorded sessions. FXOpen also doesn't provide a significant number of beginner or advanced trading videos to cater to new traders seeking to improve their skills. As a result, it is rated three stars for Education, placing it at 58th on the ForexBrokers.com ranking. Beginners seeking a more thorough educational experience may find Octa's offerings more beneficial and supportive in their trading education journey.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| 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 Octa is better than FXOpen. Octa finished with an overall rank of #47, while FXOpen finished with an overall rank of #54.
Octa offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
| Feature |
Octa
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FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 72 | 76 |
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Both Octa and FXOpen provide options for trading cryptocurrency derivatives, though neither allow for the purchase of actual, delivered cryptocurrencies.
Both Octa and FXOpen do not support ACH, SEPA, or PayPal for fund deposits or withdrawals, but they offer Skrill, Visa, Mastercard, and bank wires as available options.
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 | Octa | FXOpen | |
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| Trust Score | 72 | 76 | |
| Winner | check_circle | ||
| Review | Octa Review |
| Broker Screenshots | Octa | FXOpen | |
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| Regulation | Octa | FXOpen | |
|---|---|---|---|
| Trust Score | 72 | 76 | |
| Year Founded | 2011 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | Octa | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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 | Yes | |
| 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) | Octa | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Octa | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 257 | 87 | |
| Forex Pairs (Total) | 35 | 25 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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). |
| Cost | Octa | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.9 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Octa | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $25 | $100 | |
| PayPal (Deposit/Withdraw) | No | 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 | Octa | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | Yes |
| Trading Tools | Octa | FXOpen | |
|---|---|---|---|
| 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 | Octa | FXOpen | |
|---|---|---|---|
| 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 | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Octa | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Octa | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Octa | FXOpen | |
|---|---|---|---|
| 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 | Octa Review |
| Overall | Octa | FXOpen | |
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| Trust Score | 72 | 76 | |
| Winner | check_circle | ||
| Review | Octa Review |
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