Written by ForexBrokers.com
In this head to head comparison of IC Markets 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.
Founded in 2007, IC Markets stands out as a trusted online broker with a ForexBrokers.com Trust Score of 84, placing it in the trusted category. The firm holds two Tier-1 licenses, which signifies a high level of confidence in its operations. Even though it is not publicly traded and doesn’t operate as a bank, IC Markets has built a reputation in the industry for reliability.
Octa, established in 2011, carries a ForexBrokers.com Trust Score of 72, marking it as an average risk broker. It holds one Tier-1 license and also one Tier-2 license, which collectively contribute to its standing. Similar to IC Markets, Octa is neither publicly listed nor a banking institution. While Octa lags slightly behind IC Markets in terms of licensing and trust score, it still offers regulated services in the online brokerage space.
| Feature |
IC Markets
|
Octa
|
|---|---|---|
| Year Founded | 2007 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing commissions and fees at IC Markets and Octa, IC Markets stands out as a low-cost choice, earning a 5-star rating and securing the #5 ranking out of 62 brokers by ForexBrokers.com. This is largely due to its competitive trading costs, such as small effective spreads and low deposit requirements for its commission-based accounts. IC Markets offers three account options: a commission-free Standard account and two commission-based options, Raw Spread and cTrader Raw Spread accounts. The cTrader account offers slightly lower commissions, while the MetaTrader options provide competitive yet slightly higher costs. Traders at IC Markets benefit from an average spread of 0.62 pips with commission, making it an attractive choice for active traders, who can also receive discounts when trading over 100 standard lots per month.
In comparison, Octa brokers have made significant strides in lowering trading costs, improving its competitiveness among MetaTrader brokers with a 4-star rating and a #28 ranking in the same category. Octa boasts an appealing no slippage on 97.5% of its orders and no overnight costs; however, some restrictions might affect high-frequency traders. The fees and commissions at Octa largely depend on the account type and the Octa entity governing the account. European customers have access to a single MT5 account, while international clients can choose between MT4, MT5, and OctaTrader accounts. The spreads at Octa vary; for instance, the EUR/USD pair has a 0.5 pips average spread in the EU versus 0.9 pips at its foreign entities.
Overall, IC Markets is a top choice for those seeking minimal costs, particularly for traders using the cTrader platform. Octa presents a compelling alternative with improved pricing but lacks the precise spread data needed for an exact comparison. Both brokers cater to varying trader needs, but IC Markets edges out Octa with its more competitive pricing, earning higher industry accolades.
| Feature |
IC Markets
|
Octa
|
|---|---|---|
| Minimum Deposit | $200 | $25 |
| Average Spread EUR/USD - Standard | 0.62 | 0.9 |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | 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 range of investment options between IC Markets and Octa, IC Markets clearly leads with a broader selection. IC Markets offers an impressive total of 3,583 tradeable symbols, including 61 forex pairs. In contrast, Octa provides 257 tradeable symbols, consisting of 35 forex pairs. Both brokers support forex trading as CFDs or spot contracts, and neither offers exchange-traded securities on U.S. exchanges. However, both brokerages do give clients access to international exchanges for direct investments in companies like Vodafone.
Both IC Markets and Octa enable investors to engage in copy trading and offer derivatives for cryptocurrencies instead of the actual assets. Despite these similarities, IC Markets earns a higher rating of 4.5 stars for its range of investments compared to Octa's 3.5 stars. According to ForexBrokers.com, this is reflected in IC Markets' superior ranking of 25th out of 62 brokers in this category, while Octa stands at 52nd. These nuances in available assets and overall rankings highlight significant differences in trading options and investor experience between the two online brokers.
| Feature |
IC Markets
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 257 |
| Forex Pairs (Total) | 61 | 35 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | 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.
When comparing IC Markets and Octa in terms of trading platforms and tools, both brokers offer an array of features catering to online traders. IC Markets does not have its proprietary platform, but it supports widely trusted platforms like MetaTrader 4 and MetaTrader 5, along with offering a Windows-based desktop download and a web-based browser platform. Octa, on the other hand, has developed its own trading platform alongside hosting MetaTrader versions, appealing to traders seeking a unique platform experience. Both brokers extend the convenience of simulated trading through a free virtual demo account, and they offer popular copy trading and various charting tools, although only IC Markets provides ZuluTrade support.
In terms of trading directly from stock charts and the number of watch list columns available, IC Markets and Octa stand shoulder-to-shoulder, each providing these features along with 15 drawing tools for charting. Their trading platforms and tools both hold a rating of four stars out of five. However, their rankings by ForexBrokers.com showcase a distinction, with IC Markets taking the 17th spot and Octa trailing behind at 37th out of 62 brokers. These nuances highlight a competitive landscape, where each platform has tailored its offerings to appeal to different trading preferences.
| Feature |
IC Markets
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | Yes | No |
| 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.
IC Markets and Octa both provide mobile apps compatible with iPhone and Android devices, making it easy for traders to access their accounts on the go. Both apps come equipped with essential features like stock or forex price alerts, the ability to draw trendlines, multiple time frame views, and the option to create watchlists with real-time quotes. Despite these similarities, neither IC Markets nor Octa offers watchlist symbol syncing between their mobile apps and online accounts, which could be a drawback for traders who frequently update their watchlists.
In terms of charting capabilities, both IC Markets and Octa offer 30 technical studies within their mobile apps, satisfying the needs of technical analysis enthusiasts. They also both ensure that any drawings made on charts are automatically saved. When it comes to overall user satisfaction, IC Markets and Octa both earn a 4-star rating for their mobile trading apps. According to ForexBrokers.com, IC Markets is positioned higher, ranking 22nd out of 62 brokers, compared to Octa, which stands at 36th. This suggests a slight edge for IC Markets in terms of user preference and features.
| Feature |
IC Markets
|
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.
IC Markets and Octa both deliver daily market commentary and provide forex news from top-tier sources, ensuring traders stay informed about the latest developments. Both brokers also offer tools from Autochartist, enhancing the research capabilities available to their clients. However, when it comes to analysis tools from Trading Central, IC Markets has the advantage, providing resources like Technical Analytics, which Octa does not. Additionally, IC Markets offers a sentiment-based trading tool that lets traders see the ratio of long to short positions across currency pairs, a feature lacking from Octa's offerings.
Both brokers include an economic calendar to keep traders updated on global financial events, contributing to their comprehensive research suites. Despite some differences in their offerings, both IC Markets and Octa are rated with four stars for research. Yet, in the ForexBrokers.com research rankings, IC Markets is positioned slightly higher at 22nd out of 62 brokers, in comparison to Octa’s 26th place. This ranking suggests that IC Markets may offer a slight edge in market research features compared to Octa.
| Feature |
IC Markets
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | 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 providing educational resources for beginners, both IC Markets and Octa offer more than ten educational pieces focused on forex and CFDs. This includes articles, videos, and archived webinars. Both platforms hold educational webinars monthly, allowing newcomers to gain insights from live discussions. If you miss these sessions, no worry—both brokers host an accessible archive of previously recorded webinars. For visual learners, IC Markets and Octa each supply at least ten beginner-friendly videos designed to cover essential trading topics, making them a great start for those new to the trading arena.
Addressing the needs of more seasoned traders, IC Markets and Octa also provide over ten advanced educational videos, catering to more experienced individuals looking to enhance their trading strategies. Furthermore, investors can benefit from an extensive dictionary that defines over fifty investing terms on both platforms. While both brokers share a 4-star education rating, IC Markets claims a higher rank in the Education category on ForexBrokers.com, positioned at #16 compared to Octa's #41 ranking out of 62 brokers. This slightly elevated ranking may provide beginners with a bit more confidence in IC Markets' educational offerings.
| Feature |
IC Markets
|
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 IC Markets is better than Octa. IC Markets finished with an overall rank of #20, while Octa finished with an overall rank of #47.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 72 |
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Both IC Markets and Octa do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
IC Markets and Octa both offer Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing account funds, but only IC Markets supports PayPal, while neither provides ACH or SEPA transfers.
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 | IC Markets | Octa | |
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| Trust Score | 84 | 72 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Octa Review |
| Broker Screenshots | IC Markets | Octa | |
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| Regulation | IC Markets | Octa | |
|---|---|---|---|
| Trust Score | 84 | 72 | |
| Year Founded | 2007 | 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 | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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 | 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) | IC Markets | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 257 | |
| Forex Pairs (Total) | 61 | 35 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | IC Markets | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | Octa | |
|---|---|---|---|
| Minimum Deposit | $200 | $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 | No | No |
| Trading Platforms | IC Markets | Octa | |
|---|---|---|---|
| Proprietary Platform | No | 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 | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | Octa | |
|---|---|---|---|
| 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 | IC Markets | 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 | IC Markets | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | 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 | IC Markets | 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 | IC Markets Review | Octa Review |
| Overall | IC Markets | Octa | |
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| Trust Score | 84 | 72 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Octa Review |
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