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, potential investors might find Octa more appealing due to its recent pricing improvements. Octa has made significant strides in reducing its costs, placing it among the more competitive MetaTrader brokers. Most notably, Octa ensures no slippage on 97.5% of executed orders and waives overnight carry costs, although it imposes restrictions that could impact high-frequency trading strategies. Octa offers various account types depending on the client's location—European clients typically use the EU-regulated entity, which supports MT5, while others have options between South Africa or the offshore entity in Mwali, allowing access to MT4, MT5, and OctaTrader platforms.
In terms of spreads, Octa's offerings vary by regulatory entity. For clients under its EU entity, the EUR/USD pair enjoys an average spread of 0.5 pips, slightly advantageous compared to the 0.9 pips spread offered by its foreign entities. However, the absence of a specified date range for these spread claims may leave some users seeking more concrete data. Nevertheless, Octa continues to close the gap with the most cost-effective MetaTrader brokers, achieving a 4-star rating in commissions and fees, placing it at #29 out of 62 brokers per ForexBrokers.com.
On the other hand, FXOpen lags slightly behind Octa in this aspect. While specific average spread data is unavailable for FXOpen, it still earns a respectable 4-star rating in the commissions and fees category. However, its #45 ranking among 62 brokers indicates that FXOpen's cost efficiency might not be as compelling as Octa's. Investors seeking optimal pricing strategies may find Octa a stronger contender, given its continued enhancements in pricing structure and broader availability of account options depending on jurisdiction.
| 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 looking at the range of investments offered by online brokers Octa and FXOpen, there are several key differences to consider. Octa provides access to 300 tradeable symbols, significantly more than FXOpen's 87. For those interested in forex trading, Octa offers 35 forex pairs, compared to FXOpen's 25. Both brokers allow forex trading as CFDs or spot contracts, and neither offers exchange-traded securities on U.S. exchanges. However, Octa stands out by providing access to international exchange-traded securities, an option not available at FXOpen.
For cryptocurrency enthusiasts, both Octa and FXOpen offer derivatives but not actual cryptocurrencies. Additionally, both brokers feature copy trading, which allows less experienced traders to mimic the strategies of seasoned investors. In terms of overall performance, ForexBrokers.com ranks Octa at #52 with a rating of 3.5 stars for the Range of Investments category, while FXOpen is positioned at #61 with 3 stars. These factors make Octa a more attractive option for those seeking a wider range of investment options.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 300 | 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.
Both Octa and FXOpen offer mobile trading apps available for iPhone and Android devices. These apps support stock and forex price alerts and allow users to draw trendlines on charts and view multiple time frames such as daily, weekly, or intraday. Each platform provides 30 technical studies for charting. However, a key difference lies in the synchronization of watchlists: neither Octa nor FXOpen offers this feature, meaning watchlists do not sync between the mobile app and clients' online accounts. Furthermore, Octa's app automatically saves any drawings on a chart, whereas FXOpen's does not.
Both brokers enable the creation of watchlists with real-time quotes in their mobile apps, making it easy to track market movements. On a five-star rating scale, Octa and FXOpen receive a solid score of 4 stars for their mobile trading solutions. While these ratings show a similar level of user satisfaction, ForexBrokers.com ranks Octa higher in its Mobile Trading Apps category, placing it at 35th out of 62 brokers, compared to FXOpen's 54th position. This indicates that while both apps provide a range of useful features, Octa may have a slight edge in some aspects of mobile trading.
| 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 resources available for beginners, Octa stands out as a more comprehensive option than FXOpen. Octa provides a rich array of materials designed for those new to forex and CFDs trading, including a diverse collection of over 10 educational pieces such as articles, videos, and archived webinars. In addition, Octa hosts live webinars at least once a month, allowing beginners to engage and learn in a dynamic setting. For those who miss the live events or wish to revisit lessons, Octa's searchable archive of recorded webinars serves as a valuable resource for continuing education.
Further catering to both beginners and more experienced traders, Octa offers at least 10 educational videos tailored specifically for novice and advanced trading topics. Augmenting these resources is an extensive investor dictionary that helps traders familiarize themselves with over 50 essential investing terms. In contrast, FXOpen falls short in these areas. Though it does provide an investor dictionary similar to Octa, FXOpen lacks the quantity and variety in educational content and webinars. This difference in offerings is reflected in their ratings, with Octa earning 4 stars for education and ranking 42nd out of 62 brokers by ForexBrokers.com, whereas FXOpen holds a 3-star rating and is ranked 58th. Overall, for beginners seeking a firm foundation, Octa offers a considerably richer educational experience.
| 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) | 300 | 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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