Written by ForexBrokers.com
In this head to head comparison of Octa vs iFOREX, 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.
Octa, founded in 2011, and iFOREX, established in 1996, are prominent online brokers in the trading world, each bringing their own strengths to the table. Neither company is publicly traded or functions as a bank, but both have made strides to gain regulatory trust. Octa holds one Tier-1 license, which signals a high level of trust, and one Tier-2 license, considered trusted. In comparison, iFOREX holds just one Tier-1 license and no Tier-2 licenses, focusing their efforts on a single, highly regarded regulatory approval.
In terms of trustworthiness, Octa and iFOREX have varying ratings according to ForexBrokers.com. Octa holds a Trust Score of 72, placing it in the average risk category, while iFOREX achieves a slightly higher score of 75, also categorized under average risk. Both brokers strive for transparency and reliability, yet iFOREX seems to inch forward slightly in trust rating, despite fewer licenses overall.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Year Founded | 2011 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of online brokers Octa and iFOREX, Octa emerges as the more favorable choice, thanks to its recent improvements in pricing. Octa does not impose slippage on 97.5% of executed orders and eliminates overnight carry costs, though some restrictions may pose challenges for high-frequency traders. The fees charged by Octa depend on the account type and the regulatory entity chosen: European clients are served by the EU entity using MT5, while international customers may use either the South African branch or the offshore entity in Mwali, with options for both MT4 and MT5 accounts. Octa's rating stands at 4 out of 5 stars, ranking 28th out of 62 brokers in the Commissions and Fees category on ForexBrokers.com.
Octa offers competitive spread pricing, particularly under its EU entity, with an average spread of 0.5 pips for the EUR/USD pair, compared to 0.9 pips for its international offerings. However, the lack of a date range for its spread data detracts from the reliability of these figures. Despite this, Octa’s improved pricing strategy now competes with some of the lowest-cost MetaTrader brokers. In contrast, iFOREX does not disclose average spread information, making it more challenging to assess its fee structure and pricing competitiveness.
With a commission and fees rating of 3 stars, iFOREX is ranked 60th out of 62 brokers by ForexBrokers.com, indicating a less favorable position compared to Octa. This difference underscores Octa's ability to cater to traders looking for more cost-effective trading options, while iFOREX's lack of transparency in certain areas may deter potential users focused on evaluating trading costs. Overall, Octa appears to be the superior choice regarding pricing and fee transparency between the two.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| 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 | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Octa and iFOREX both bring a decent selection of investment options to the table, catering to traders interested in forex and various CFDs. Both platforms offer forex trading through CFDs, providing a gateway to the currency markets. Octa features 257 tradeable symbols, including 35 forex pairs, while iFOREX stands out with 750 tradeable symbols and an impressive 88 forex pairs to choose from. Neither platform offers exchange traded securities on U.S. exchanges, but Octa gives users access to international securities. On the other hand, iFOREX offers a wider range of CFDs and various investment types to diversify portfolios.
For investors interested in cryptocurrency, both Octa and iFOREX provide access to derivatives rather than delivering actual cryptocurrencies. Octa also supports copy trading, enabling users to follow successful traders, an option not available on iFOREX. While both brokers hold a 3.5-star rating for their range of investments, iFOREX is ranked slightly higher in the industry at #41, compared to Octa's #52 ranking. This suggests iFOREX may offer broader flexibility for those looking to explore a larger array of investment choices.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 257 | 750 |
| Forex Pairs (Total) | 35 | 88 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | No |
| 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 the trading platforms and tools offered by Octa and iFOREX, several key differences emerge. Octa stands out with features like a free virtual demo account, allowing users to practice trading without financial risk. It also provides a proprietary platform developed in-house, along with options for both Windows-based desktop and web-based trading. Octa further supports popular trading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are not available with iFOREX. Copy trading is another feature Octa offers, while iFOREX does not. For charting, Octa provides users with 15 drawing tools and the ability to trade directly from stock charts, although it lacks specific information on the number of technical indicators it offers.
iFOREX, on the other hand, also offers a proprietary platform but does not feature Windows-based desktop trading or support for MT4 and MT5 platforms. It does offer web-based trading and a slightly larger selection of drawing tools for charting, with a total of 25, alongside the capability to trade directly from stock charts. iFOREX outpaces Octa in terms of watch list customization, providing 9 columns for fields, compared to Octa's 7. Both Octa and iFOREX are rated 4 stars for their trading platforms and tools, though Octa ranks higher in this category at #37 out of 62 brokers, whereas iFOREX holds a position at #54, according to ForexBrokers.com.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 57 |
| Charting - Drawing Tools (Total) | 15 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between Octa and iFOREX for mobile trading, both options offer apps compatible with iPhones and Android devices. However, Octa stands out with its stock or forex price alerts feature, which is absent in the iFOREX app. While neither platform supports watchlist symbol syncing between their mobile apps and online accounts, Octa provides a more engaging charting experience with 30 technical studies, the ability to draw trendlines, view multiple timeframes, and auto-save chart drawings. iFOREX lacks these advanced charting capabilities.
Creating a watchlist with real-time quotes is another feature unique to Octa's mobile app, offering traders a more dynamic trading environment than iFOREX. Both brokers have received a 4-star rating for their respective mobile trading apps. However, in a competitive ranking by ForexBrokers.com among 62 brokers, Octa has been rated higher, securing the 36th position compared to iFOREX's 55th. This overall comparison suggests that Octa might be a better option for traders looking for more comprehensive features in a mobile trading app.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing online brokers Octa and iFOREX for their market research offerings, it's clear that both provide valuable daily market commentary and access to economic calendars for keeping up with global news events. However, the two diverge when it comes to additional tools and resources. Octa excels by offering forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, along with technical analysis tools from Autochartist, enriching the research experience for their clients. On the contrary, iFOREX does not provide news feeds from such prestigious outlets and lacks tools from Autochartist, but it does make up for it with a sentiment-based trading tool and analysis resources from Trading Central.
Overall, in the realm of research quality and tools, Octa outperforms iFOREX, earning a higher research rating of 4 stars compared to iFOREX's 3.5 stars. According to rankings from ForexBrokers.com, Octa holds a respectable 26th position, significantly ahead of iFOREX, which is ranked 48th among 62 brokers in the Research category. This suggests that traders seeking comprehensive market research and analysis might find Octa to be a more suitable option, despite iFOREX's unique offerings.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| 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 for beginners provided by online brokers Octa and iFOREX, significant differences stand out. Octa offers a comprehensive suite of educational materials with more than ten pieces focusing on forex or CFDs, supported by monthly webinars and an accessible archive of recorded sessions. This broker ensures that both beginners and seasoned traders have a wealth of resources at their disposal, with an impressive library of beginner and advanced educational videos as well as a detailed investor dictionary covering over 50 investing terms. In contrast, iFOREX provides educational content, but it falls short as it does not match Octa's offering in terms of volume and accessibility, lacking resources like regular webinars or a comprehensive investor dictionary.
Both brokers offer beginner educational videos; however, Octa stands out with its additional advanced videos for more experienced traders. For users keen on deepening their knowledge and investing expertise, Octa presents a more appealing choice with more expansive and enriching resources. This comprehensive educational approach is reflected in Octa's higher education rating of four stars compared to iFOREX's 3.5 stars. Furthermore, Octa ranks at #41 in the Education category on ForexBrokers.com, ahead of iFOREX, which is positioned at #53. Overall, Octa provides a more thorough educational experience for those entering the trading world.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
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 iFOREX. Octa finished with an overall rank of #47, while iFOREX finished with an overall rank of #52.
Octa offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 72 | 75 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both Octa and iFOREX do not offer the ability to buy actual cryptocurrency, providing only cryptocurrency derivatives for traders instead.
While both Octa and iFOREX provide options for fund transactions via Skrill, Visa, Mastercard, and bank wires, only iFOREX offers the added convenience of PayPal, as neither broker supports ACH or SEPA transfers for deposits or withdrawals.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Octa | iFOREX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 72 | 75 | |
| Winner | check_circle | ||
| Review | Octa Review |
| Broker Screenshots | Octa | iFOREX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | Octa | iFOREX | |
|---|---|---|---|
| Trust Score | 72 | 75 | |
| Year Founded | 2011 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Octa | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 257 | 750 | |
| Forex Pairs (Total) | 35 | 88 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | Octa | iFOREX | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Octa | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $25 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| 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 | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Octa | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | 57 | |
| Charting - Drawing Tools (Total) | 15 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Octa | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Octa | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Octa | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Octa | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 72 | 75 | |
| Winner | check_circle | ||
| Review | Octa Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill