Written by ForexBrokers.com
In this head to head comparison of HFM 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.
When it comes to choosing an online broker, HFM and Octa present themselves with different trust levels and regulatory standings. HFM, established in 2010, boasts a solid regulatory foundation with two Tier-1 licenses and three Tier-2 licenses. This contributes to its trust score of 86 out of 99, making it a trusted option among users. In contrast, Octa, which started in 2011, holds one Tier-1 and one Tier-2 license, earning a trust score of 72. While neither HFM nor Octa are publicly traded companies or banks, their regulatory credentials differ significantly, which could be a deciding factor for potential users.
While both brokers aim to provide a reliable trading environment, their trust scores reflect their commitment to upholding regulatory standards. HFM's higher trust score indicates a greater degree of reliability. However, Octa still maintains a decent level of trust, described as average risk, which might appeal to those less concerned with top-tier regulation. As you ponder your choices, consider how each broker’s regulatory framework fits with your personal trading needs.
| Feature |
HFM
|
Octa
|
|---|---|---|
| Year Founded | 2010 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 3 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
HFM and Octa offer different structures for commissions and fees that cater to varying trading needs, each with unique considerations. HFM presents trading costs that are slightly above the industry average. For standard accounts, they provide a typical spread of 1.2 pips, though it's important to note that no date range confirms this average, which could affect accuracy. The Zero account at HFM claims a reduced effective spread of 0.7 pips post-commission, but this isn't marked as an average. For their fees and commissions category, HFM earns a commendable rating of 4 stars and ranks 31st out of 62 brokers as evaluated by ForexBrokers.com.
On the other hand, Octa has enhanced its pricing approach considerably, edging closer to the most affordable MetaTrader brokers. With an emphasis on no slippage for 97.5% of its orders and no overnight carry costs, Octa offers favorable conditions, though high-frequency traders might face some restrictions. The account type and regulatory entity—namely the European entity or those based in South Africa or Mwali—affect the commissions and fees structure. Octa’s spreads vary, with the EU entity offering a slightly better spread for the EUR/USD pair at 0.5 pips compared to 0.9 pips for their offshore entities. However, similar to HFM, Octa lacks a date range for its spread data, which impacts the reliability of this information. Octa also scores 4 stars for its commissions and fees and is ranked 28th out of 62 brokers by ForexBrokers.com.
In summary, both HFM and Octa demonstrate competitive features in their own rights. HFM holds a slight edge through its specific account offerings but is slightly more costly, whereas Octa shines in consistent pricing improvements, despite the absence of date-referenced spread data. Their similar star ratings reflect an overall comparable experience, though Octa's higher ranking suggests a marginal advantage in this category.
| Feature |
HFM
|
Octa
|
|---|---|---|
| Minimum Deposit | $0 | $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 | No | No |
| 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 comparing HFM and Octa in terms of available investments, both brokers provide opportunities for forex trading, offering contracts for difference (CFDs) or spot contracts. However, HFM has an edge with a broader selection, offering 500 tradeable symbols and 102 forex pairs compared to Octa's 257 symbols and 35 forex pairs. Both brokers allow for trading cryptocurrency derivatives but not the actual cryptocurrencies themselves. Additionally, neither offers the ability to buy exchange-traded securities on U.S. exchanges. However, Octa distinguishes itself by giving clients access to international exchange-traded securities, while HFM does not.
When it comes to user feedback, both brokers offer copy trading, appealing to those looking for social trading options. HFM holds a slight advantage in overall rating with four stars, compared to Octa's 3.5 stars, according to ForexBrokers.com. HFM also ranks higher at 36th out of 62 brokers for its range of investments, whereas Octa is placed at 52nd. These ratings reflect the broader investment options and potentially more attractive trading strategies available through HFM.
| Feature |
HFM
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 257 |
| Forex Pairs (Total) | 102 | 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 HFM and Octa excel in offering versatile trading platforms and tools that cater to traders of all levels. Each broker provides a proprietary platform alongside the widely used MetaTrader 4 and MetaTrader 5, ensuring a familiar yet customizable trading experience. Traders can benefit from simulated paper trading through free virtual demo accounts available on both platforms. Both brokers also offer web-based platforms, Windows desktop platforms, and the ability to trade directly from stock charts, enhancing accessibility and convenience while trading. Copy trading is supported by both HFM and Octa for those interested in mirroring successful strategies.
When it comes to additional features, HFM offers 30 drawing tools for charting, compared to Octa's 15, providing more options for technical analysis. Both brokers allow for the creation of detailed watch lists with seven columns, giving users ample space to track important data. While neither broker supports DupliTrade or ZuluTrade, their emphasis on in-house and well-regarded trading platforms ensures a high-quality user experience. Overall, HFM and Octa are rated four stars out of five for their trading platforms and tools. In rankings by ForexBrokers.com, Octa leads slightly at 37th place out of 62 brokers, while HFM is rated 42nd, reflecting their competitive positioning in the market.
| Feature |
HFM
|
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) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both HFM and Octa offer accessible options for traders using either an iPhone or Android device. Users can receive stock or forex price alerts, allowing them to stay informed without needing to constantly check their app. However, both brokers fall short when it comes to synchronizing watchlist symbols across devices and platforms. Traders looking to fine-tune their strategies will appreciate the ability to use 30 technical studies and draw trendlines within the mobile app of both brokers. The apps also enable users to view multiple time frames, and any chart drawings made will be automatically saved.
Despite these similarities, there are a few differences worth noting. Both brokers support creating watchlists with real-time quotes, but they differ in terms of market ranking and ratings. HFM and Octa each receive a respectable four-star rating for their mobile trading apps. Nonetheless, Octa edges ahead slightly with a ranking of #36 out of 62 brokers, compared to HFM's ranking at #39 according to ForexBrokers.com. Overall, both platforms provide a solid mobile trading experience, but individual preferences and priorities may guide traders toward one over the other.
| Feature |
HFM
|
Octa
|
|---|---|---|
| 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 | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of online brokers HFM and Octa, both provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. Each broker also offers technical analysis tools from Autochartist, ensuring traders have access to essential insights for better decision-making. However, neither broker includes technical tools from Trading Central, nor market insights from TipRanks and Acuity Trading. For those interested in sentiment analysis, HFM offers a tool that tracks the ratio of long vs. short positions across currency pairs, a feature not available with Octa. Both brokers, however, provide economic calendars that highlight global economic events, helping traders stay informed about potential market-moving news.
In terms of research quality, both HFM and Octa earn a rating of four out of five stars, reflecting their commitment to providing valuable tools and information for traders. Despite sharing the same star rating, HFM holds a slightly better position in the research rankings by ForexBrokers.com, landing at number 20 out of 62 brokers, while Octa ranks at number 26. This suggests that, while they are similar in many research features, HFM might have a slight edge in overall user satisfaction or other aspects not captured by the star rating alone.
| Feature |
HFM
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | 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.
When it comes to educational resources for beginners, both HFM and Octa provide a solid foundation. They each offer a minimum of 10 educational pieces dedicated to forex or CFDs, including articles, videos, and archived webinars. Both platforms host regular online webinars at least once a month and maintain an accessible archive of these sessions for convenient on-demand learning. For those just starting their trading journey, HFM and Octa provide beginner-friendly video content with at least 10 informative videos specifically aimed at newcomers.
For more advanced traders, HFM and Octa also offer a selection of at least 10 educational videos tackling advanced trading topics. Additionally, both brokers provide an extensive investor dictionary with definitions of over 50 key investing terms to aid in understanding complex concepts. Although both HFM and Octa boast strong educational offerings with ratings of 4 out of 5 stars, HFM is ranked slightly higher, securing the 37th spot compared to Octa’s 41st in the ForexBrokers.com education category among 62 brokers.
| Feature |
HFM
|
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 HFM is better than Octa. HFM finished with an overall rank of #30, while Octa finished with an overall rank of #47.
Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, a proprietary HF mobile app, and a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average.
| Feature |
HFM
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 72 |
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Both HFM and Octa do not offer the ability to buy actual cryptocurrency, but they do provide the option to purchase cryptocurrency derivatives.
Both HFM and Octa do not offer ACH or SEPA transfers or PayPal for depositing or withdrawing funds, but they both support Skrill, Visa or Mastercard, and bank wire 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 | HFM | Octa | |
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| Trust Score | 86 | 72 | |
| Winner | check_circle | ||
| Review | HFM Review | Octa Review |
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| Regulation | HFM | Octa | |
|---|---|---|---|
| Trust Score | 86 | 72 | |
| Year Founded | 2010 | 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 | 3 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | HFM | Octa | |
|---|---|---|---|
| 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) | 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) | HFM | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HFM | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 257 | |
| Forex Pairs (Total) | 102 | 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 | HFM | 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 | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | Octa | |
|---|---|---|---|
| Minimum Deposit | $0 | $25 | |
| 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 | HFM | 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HFM | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HFM | 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 | 30 | 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 | HFM | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | HFM | 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 | HFM | 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 | HFM Review | Octa Review |
| Overall | HFM | Octa | |
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| Trust Score | 86 | 72 | |
| Winner | check_circle | ||
| Review | HFM Review | Octa Review |
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