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 |
When comparing commissions and fees for FXCM and Octa, both brokers earn a 4-star rating for their pricing structures but have different approaches and rankings in the ForexBrokers.com list. FXCM's pricing for forex trading is slightly above the industry average. Standard account spreads, based on May 2024 data, average 0.78 pips for the EUR/USD pair in its EU, U.K., and Australia offerings and go up to 1.38 pips with its St. Vincent and the Grenadines entity. For commission-based accounts, average spreads are more competitive at 0.28 pips, though this figure excludes additional commissions. Active traders can benefit from FXCM’s rebate program, yet it does come with specific requirements based on account location. FXCM is ranked #24 out of 62 brokers for commissions and fees
On the other hand, Octa has made significant strides in improving its fee structure, effectively competing with some of the lowest-cost MetaTrader brokers. Its spreads vary depending on the regulatory entity, with the EU entity offering an average spread of 0.5 pips for the EUR/USD pair, which is slightly better than the 0.9 pips spread seen with its other entities. However, Octa does not provide a specific date range for its typical spread data, which could impact the perceived reliability of these figures. Octa also offers account flexibility across MT4, MT5, and OctaTrader platforms, but has some restrictions that might affect high-frequency traders. Ranked #28 out of 62 brokers, Octa is steadily improving its position.
Overall, while both brokers have equal star ratings, FXCM offers specific incentives for active traders that might be appealing depending on your trading volume and location, while Octa is showing promising improvements that enhance its competitive edge in spread pricing.
| 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.
When comparing the online brokers FXCM and Octa in terms of their range of investment options, both platforms demonstrate strengths and limitations. FXCM offers a wider array of tradeable symbols, featuring 440 options, including 43 forex pairs, which gives traders a variety of choices. Octa, on the other hand, provides 257 tradeable symbols and offers 35 forex pairs. Both brokers support forex trading through CFDs or spot contracts and allow for trading in cryptocurrency derivatives, though neither provides the option to buy actual cryptocurrencies. Additionally, each platform offers copy trading capabilities, appealing to traders seeking automated strategies.
An important distinction between the two is their handling of exchange-traded securities. FXCM does not offer exchange-traded securities on either U.S. or international exchanges, whereas Octa allows clients to buy international stocks, providing more diversity for investors interested in global markets. Despite these differences, both brokers are rated equally by ForexBrokers.com, each earning 3.5 stars for their range of investments. Still, FXCM ranks slightly higher at #47 compared to Octa's #52 out of 62 brokers reviewed, suggesting a marginal edge in investment scope according to the ranking metrics used.
| Feature |
FXCM
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 257 |
| 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.
Both FXCM and Octa provide comprehensive mobile trading apps for iPhone and Android users, ensuring accessibility for traders on the go. While both platforms support essential features, such as stock or forex price alerts, real-time watchlists, and the ability to draw trendlines, there are some differences to consider. FXCM stands out by offering 59 technical studies for charting, compared to Octa's 30. Additionally, FXCM allows users to sync their watchlists with their online accounts, a feature Octa lacks. This synchronization ensures seamless updates across devices, enhancing the user experience.
When it comes to saving drawings and viewing multiple time frames on forex or stock charts, both apps are on par, offering similar capabilities. However, FXCM’s app is rated slightly higher at 4.5 stars compared to Octa's 4 stars, reflecting a marginally better user experience. Furthermore, according to ForexBrokers.com, FXCM ranks significantly higher at #16, while Octa holds the #36 position out of 62 brokers. These differences may influence which platform mobile traders prefer, depending on the specific features they value most.
| 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 provide a variety of content to help new traders learn the ropes of forex and CFDs. Each offers at least 10 engaging educational pieces such as articles, videos, and webinars covering these financial topics. Both brokers understand the importance of spoken tutorials, providing monthly online webinars and maintaining an archive to access previous sessions. Whether you're starting fresh or refining your skills, each platform supports your learning journey with beginner-focused video tutorials. In addition, advanced traders aren't left behind, as both FXCM and Octa present numerous videos tailored to experienced traders.
FXCM and Octa also offer a handy investor dictionary, making sure traders understand at least 50 essential investing terms. However, there are notable differences in their ratings and rankings. FXCM stands out with a 4.5-star rating for education, while Octa follows with a 4-star rating. Reflecting the quality of their resources, FXCM holds the 14th position among 62 brokers in the ForexBrokers.com education category, whereas Octa is ranked at 41. These distinctions highlight FXCM as a slightly more commendable choice for those primarily focused on educational support.
| 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 |
| Broker Screenshots | FXCM | Octa | |
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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 | 257 | |
| 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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