Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
FXCM, founded in 1999, is a long-established online broker that enjoys a high Trust Score of 95 according to ForexBrokers.com, indicating a high level of trustworthiness. FXCM is publicly traded, which can offer added transparency for investors, and holds an impressive four Tier-1 licenses, highlighting its strong regulatory compliance. Additionally, it has two Tier-2 licenses, further bolstering its trusted status in the industry.
In contrast, Octa, established in 2011, presents a Trust Score of 72, categorizing it as an average-risk broker. Unlike FXCM, Octa is not publicly traded, which might limit some investor insight. When it comes to regulatory standing, Octa holds one Tier-1 license and one Tier-2 license, signifying a moderate level of regulatory trust. While both brokers are not banks, the regulatory setup suggests FXCM provides a more reassuring safety net for traders through its multiple high-trust licenses and transparency.
| Feature |
FXCM
|
Octa
|
|---|---|---|
| Year Founded | 1999 | 2011 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
FXCM and Octa are both notable players in the online forex trading space, with distinct approaches to commissions and fees. FXCM's pricing is slightly above the industry average, with standard account spreads on the EUR/USD averaging 0.78 for EU, U.K., and Australian clients, while the spreads for its St. Vincent and the Grenadines entity average 1.38. For those utilizing commission-based accounts, the spread averages 0.28 pips, excluding commissions, with possible discount opportunities for active traders, based on trading volume and location. Despite these discounts, FXCM's commission-based pricing leads to an effective spread of approximately 0.74 pips when commissions are included. FXCM's commissions and fees have earned it a 4-star rating and a #24 ranking out of 62 brokers by ForexBrokers.com.
Octa has made significant strides in improving its pricing and now competes well among low-cost MetaTrader brokers. Spreads at Octa vary depending on the account type and the specific entity under which the client is registered. European clients experience an average spread of 0.5 pips on the EUR/USD, while clients under foreign entities face a slightly higher average of 0.9 pips. Although Octa doesn't provide specific date ranges for their spread calculations, their efforts in enhancing pricing transparency have not gone unnoticed. However, restrictions for high-frequency traders may pose challenges. Despite these factors, Octa also holds a 4-star rating for its commissions and fees and is ranked #29 out of 62 brokers by ForexBrokers.com.
In summary, both FXCM and Octa offer competitive rates in some areas while presenting limitations in others. FXCM shines with its active trader rebate program, though it is not the most competitive option available. On the other hand, Octa has significantly improved its compensation structure, albeit with some limitations for active and high-frequency traders. Both brokers earn similar 4-star ratings for their commissions and fees, with FXCM slightly outpacing Octa in ranking by ForexBrokers.com.
| Feature |
FXCM
|
Octa
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $25 |
| Average Spread EUR/USD - Standard | 0.78 | 0.9 |
| All-in Cost EUR/USD - Active | 0.78 | 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.
FXCM and Octa both offer forex trading as CFDs or spot contracts, providing investors with accessible ways to engage in currency markets. FXCM offers a slightly wider selection with 440 tradeable symbols compared to Octa's 300. In terms of forex pairs, FXCM again takes a marginal lead with 43 pairs available, whereas Octa offers 35. Neither broker allows clients to invest in exchange-traded securities on U.S. exchanges, such as Apple shares. However, Octa provides an opportunity to invest in securities on international exchanges, unlike FXCM.
Both FXCM and Octa support copy trading, which allows users to replicate the strategies of more experienced traders. When it comes to cryptocurrency, both brokers offer derivatives but not the ability to purchase the actual cryptocurrency. This makes them attractive for those interested in market speculation rather than ownership. Despite their differences in offerings, both brokers have a similar rating of 3.5 stars from ForexBrokers.com for their range of investments. FXCM is ranked 47th out of 62 brokers, whereas Octa is ranked slightly lower at 52nd.
| Feature |
FXCM
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 300 |
| Forex Pairs (Total) | 43 | 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.
Both FXCM and Octa offer traders a comprehensive range of platforms and tools, catering to various trading needs. For those starting out, each broker provides a free demo account to practice strategies without financial risk. Both companies also feature proprietary platforms developed in-house, along with compatibility for MetaTrader 4 (MT4) and Windows-based desktop platforms. While FXCM and Octa both enable traders to engage in copy trading, only FXCM supports ZuluTrade, whereas Octa uniquely offers MetaTrader 5 (MT5). Web-based trading is accessible with both brokers, ensuring traders can access their accounts from different devices without software installation.
When it comes to charting tools, FXCM and Octa both allow direct trading from stock charts, though FXCM provides 10 drawing tools compared to Octa's 15. In terms of organizational features, FXCM's watch lists offer 13 columns for detailed planning, nearly double Octa's 7. These functional differences, alongside user ratings, have positioned FXCM higher with a 5-star rating and a #6 ranking in trading platforms by ForexBrokers.com, compared to Octa's 4-star rating and a rank of #37. Both brokers provide strong offerings, but FXCM tends to edge out in specialized tools and overall trader satisfaction.
| Feature |
FXCM
|
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) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing FXCM and Octa's mobile trading apps, both offer strong features for iPhone and Android users, including the ability to receive stock or forex price alerts and create watchlists with real-time quotes. However, FXCM takes a slight lead with its watchlist symbol syncing feature, allowing users' watchlist changes to seamlessly sync between their mobile app and online account. This convenience is not available in Octa's offering. Both brokers enable users to draw trendlines and view different time frames on charts, but FXCM offers a more comprehensive selection of technical studies with 59 options compared to Octa's 30.
In terms of user satisfaction, FXCM’s app is highly rated at 4.5 stars, outshining Octa's 4-star rating. This is also mirrored in rankings from ForexBrokers.com, where FXCM stands at #16 in the Mobile Trading Apps category, while Octa is at #35. Both apps provide a solid trading experience with automatic saving of chart drawings, but FXCM's additional features and higher user satisfaction might make it the preferable choice for traders seeking a more interconnected and detailed mobile trading platform.
| Feature |
FXCM
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 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 FXCM and Octa for their market research offerings, both brokers provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. FXCM stands out by incorporating tools from Trading Central and insight from TipRanks, while Octa includes analysis tools from Autochartist. FXCM also offers a sentiment-based trading tool that displays the ratio of long or short positions, an advantage for traders looking to understand market directions.
Both brokers offer economic calendars to keep users updated on global events. However, FXCM earns a slightly higher research rating of 4.5 stars compared to Octa's 4 stars. In terms of ranking by ForexBrokers.com, FXCM holds the 11th position out of 62 brokers in the Research category, while Octa is ranked 26th. These distinctions make FXCM a slightly better option if in-depth market research tools are a priority.
| Feature |
FXCM
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | 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 FXCM and Octa offer a range of helpful content for those interested in forex or CFDs. Each broker provides more than ten educational pieces, including articles, videos, and archived webinars, which serve as a great starting point for newcomers. FXCM and Octa also host online client webinars at least once a month, allowing beginners to engage in real-time learning sessions. Moreover, they both provide access to a searchable archive of previously recorded webinars, making it easy for users to revisit lessons at their convenience.
Additionally, both FXCM and Octa have produced plenty of educational videos for traders of varying skill levels. Beginners will find more than ten introductory videos tailored to their needs, while experienced traders can delve into content designed to expand their advanced trading knowledge. Each platform's investor dictionary, brimming with over 50 investing terms, further enhances the educational offerings. However, FXCM stands out with a slightly higher education rating of 4.5 stars compared to Octa's 4 stars. Reflecting this, FXCM is ranked #14 out of 62 brokers by ForexBrokers.com for education, significantly ahead of Octa's #42 ranking.
| Feature |
FXCM
|
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 FXCM is better than Octa. FXCM finished with an overall rank of #15, while Octa finished with an overall rank of #47.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 72 |
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Both FXCM and Octa do not provide the option to purchase actual delivered cryptocurrency, but they do offer the ability to buy cryptocurrency derivatives.
FXCM provides a wider range of deposit and withdrawal options, including ACH/SEPA transfers and PayPal, which are not available with Octa, though both brokers support Skrill, Visa/Mastercard, and bank wire transactions.
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 | FXCM | Octa | |
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| Trust Score | 95 | 72 | |
| Winner | check_circle | ||
| Review | FXCM Review | Octa Review |
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| Regulation | FXCM | Octa | |
|---|---|---|---|
| Trust Score | 95 | 72 | |
| Year Founded | 1999 | 2011 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | 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) | FXCM | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | 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 | FXCM | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 300 | |
| Forex Pairs (Total) | 43 | 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 | FXCM | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | Octa | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $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 | FXCM | 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) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | 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 | 59 | 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 | FXCM | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | 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 | FXCM | 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 | FXCM Review | Octa Review |
| Overall | FXCM | Octa | |
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| Trust Score | 95 | 72 | |
| Winner | check_circle | ||
| Review | FXCM Review | Octa Review |
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