Written by ForexBrokers.com
In this head to head comparison of IG 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.
IG and Octa are two notable names in the realm of online brokerage, but they differ significantly in terms of trust and regulatory standing. IG, established in 1974, boasts a rich history and high credibility, being publicly traded and operating as a bank. It holds an impressive eight Tier-1 licenses, signifying maximum trust, alongside two Tier-2 licenses. IG's commitment to safety and reliability earns it a perfect Trust Score of 99 from ForexBrokers.com, marking it as a highly trusted choice for clients seeking security in their financial ventures.
In contrast, Octa, founded in 2011, remains a private entity and does not operate as a bank. Its regulatory portfolio includes just one Tier-1 and one Tier-2 license, which are modest compared to IG’s profile. This is reflected in its Trust Score of 72, suggesting an average risk level according to ForexBrokers.com standards. Overall, while Octa maintains a presence in the market, its regulatory assurances are less comprehensive compared to the well-established and highly trusted IG.
| Feature |
IG
|
Octa
|
|---|---|---|
| Year Founded | 1974 | 2011 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 1 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing IG and Octa in terms of commissions and fees, IG shines as a strong choice for active traders with its Forex Direct accounts. While not positioned as a discount broker, IG’s scalable execution accommodates large orders efficiently. Its average spreads for the Forex Direct account are competitive, with 0.62 pips in July 2023 or 0.82 pips when including the per trade commission. IG also offers an enticing active trader rebate program for high-volume traders, which could reduce costs significantly. For direct market access, IG’s DMA account lowers spreads even further based on trading volume, making it a preferred choice for experienced traders. IG scores a 5-star rating and ranks #8 out of 62 brokers for commissions and fees, underscoring its reputation in this category.
On the other hand, Octa has improved its cost competitiveness significantly, especially among MetaTrader brokers. Its offer of no slippage on most orders and the absence of overnight carry costs are attractive, although high-frequency traders could find its restrictions limiting. Octa’s fees vary based on account type and the Octa entity regulating your account, with different entities offering slightly varying spreads. For EU-regulated accounts, the EUR/USD spread averages around 0.5 pips, a better rate compared to 0.9 pips from its other entities. Despite some discontinuity in the date range of spread data, Octa maintains a good price point and has been rated 4 stars. It is also ranked #28 out of 62 brokers for commissions and fees.
Ultimately, while both brokers offer competitive pricing structures that suit different trading needs, IG stands out for active and high-volume traders, thanks to its rebates and direct market access accounts. Octa provides a decent alternative for users seeking better transparency and lower costs in MetaTrader environments, although their slightly inconsistent spread data might pose a challenge in direct comparisons.
| Feature |
IG
|
Octa
|
|---|---|---|
| Minimum Deposit | £250.00 | $25 |
| Average Spread EUR/USD - Standard | 0.98 | 0.9 |
| All-in Cost EUR/USD - Active | 0.82 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When exploring the investment choices between IG and Octa, it's clear that both platforms cater to forex traders with options for trading as CFDs or spot contracts. However, IG vastly outshines Octa in terms of sheer variety, offering a staggering 19,537 tradeable symbols compared to Octa's 257. In the realm of forex pairs alone, IG provides access to 97 pairs while Octa offers 35, reflecting IG's more comprehensive offerings. For those interested in exchange-traded securities, IG permits clients to buy shares from U.S. markets, such as Apple, and international markets like Vodafone on the London Stock Exchange. Conversely, Octa users can only purchase on international exchanges.
Both brokers provide similar opportunities in cryptocurrency, allowing trading in derivatives but not actual cryptocurrencies. However, if copy trading is your focus, Octa has a distinct advantage with this feature, unlike IG. These differences contribute to IG's higher standing, with ForexBrokers.com giving it 5 stars and ranking it 4th out of 62 brokers for its range of investments. Octa, on the other hand, receives a 3.5-star rating, securing the 52nd position, underscoring IG's extensive reach and options in the market.
| Feature |
IG
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 257 |
| Forex Pairs (Total) | 97 | 35 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | 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 it comes to trading platforms and tools, both IG and Octa offer a variety of options that cater to different trading preferences. IG provides a robust suite with a proprietary trading platform available for both web and Windows-based desktop, along with popular platforms like MetaTrader 4 and a free virtual demo account to practice trading. IG shines particularly in the comprehensive features of its web-based platform, which includes a plethora of drawing tools and allows direct trading from stock charts. Despite its limited offerings in social trading, IG achieves a top-tier rating of 5 stars and secures the second spot in ForexBrokers.com's rankings for its trading platforms and tools.
Conversely, Octa caters to traders seeking social trading options, as it offers copy trading alongside its proprietary platform, which is accessible via web and Windows desktop. Like IG, Octa provides access to MetaTrader 4, but it goes a step further by supporting MetaTrader 5, catering to more advanced trading needs. Although Octa offers fewer drawing tools compared to IG, it allows for customization with more fields in watch lists. Octa receives a solid rating of 4 stars and ranks 37 out of 62 brokers on ForexBrokers.com, making it a reliable choice but less highly-prized compared to IG in the realm of trading platforms and tools.
| Feature |
IG
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps offered by IG and Octa, both brokers provide options for iPhone and Android users, making it convenient for a wide range of traders to access their services. IG takes an edge with its watchlist symbol syncing feature, allowing updates made on any device to be unified, whereas this function is absent from Octa's offerings. Both apps provide useful features such as price alerts and the ability to draw trendlines on charts, appealing to traders who want comprehensive on-the-go trading capabilities.
IG offers 33 technical studies for charting within its app, slightly more than Octa's 30 studies, which may provide users more analytical tools to work with. Both platforms support viewing various time frames and automatically save drawings on charts, enhancing the user experience. When considering user ratings, IG shines with a full 5-star rating, while Octa follows with a respectable 4-star rating. Ranked by ForexBrokers.com among 62 brokers, IG takes the top spot for mobile trading apps, while Octa is placed at number 36, reflecting IG's overall higher satisfaction and feature set.
| Feature |
IG
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 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 IG and Octa, both platforms provide users with daily market commentary and access to top-tier forex news from sources like Bloomberg, Reuters, and Dow Jones. They each offer technical analysis tools from Autochartist, and both platforms include an economic calendar that shares up-to-date global economic events. However, a key difference lies in sentiment-based trading tools, which IG provides but Octa does not. IG further differentiates itself by offering market research from TipRanks and additional research tools from Acuity Trading, such as Signal Centre, features that Octa lacks.
This comprehensive array of research tools earns IG a stellar 5-star rating for research, placing it at the impressive rank of #2 out of 62 brokers according to ForexBrokers.com. In comparison, Octa receives a respectable 4-star rating and holds the #26 spot. For traders prioritizing research depth and breadth, IG’s offerings can provide a considerable edge with its extensive tool set and higher industry recognition in market analysis. Meanwhile, Octa serves as a solid choice for traders seeking foundational research tools with slightly less extensive features.
| Feature |
IG
|
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 | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IG and Octa both provide extensive educational resources aimed at helping beginners navigate the world of forex and CFDs. Both brokers offer a minimum of 10 educational pieces, including articles, videos, and archived webinars, ensuring newcomers have access to a wealth of information. They host monthly online webinars and provide an archive of these sessions, allowing clients to catch up on valuable content at their convenience. Each platform features at least 10 beginner-focused educational videos, designed to help novice traders grasp essential trading concepts, as well as an investor dictionary with over 50 investing terms explained, offering comprehensive support for those new to trading.
While both brokers offer thorough educational content, IG has earned a 5-star rating and is ranked as the top provider for education by ForexBrokers.com, while Octa receives a 4-star rating and ranks #41 out of 62 brokers. IG also includes advanced educational videos catering to more experienced traders, ensuring growth opportunities for traders at all levels. Octa similarly covers advanced topics, though it lags behind IG in overall educational quality as recognized by industry rankings. Thus, beginners looking for highly-rated educational resources may find IG to be the superior choice.
| Feature |
IG
|
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 IG is better than Octa. IG finished with an overall rank of #1, while Octa finished with an overall rank of #47.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 72 |
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Both IG and Octa do not offer the ability to buy actual delivered cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
IG offers a variety of options for depositing and withdrawing account funds, including ACH, SEPA, PayPal, Visa, Mastercard, and bank wires, while Octa supports Visa, Mastercard, bank wires, and Skrill, but not ACH, SEPA, or PayPal.
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 | IG | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | IG Review | Octa Review |
| Broker Screenshots | IG | Octa | |
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| Regulation | IG | Octa | |
|---|---|---|---|
| Trust Score | 99 | 72 | |
| Year Founded | 1974 | 2011 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 1 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | 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 | IG | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 257 | |
| Forex Pairs (Total) | 97 | 35 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | 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 | IG | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | Octa | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $25 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | IG | Octa | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | 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 | 33 | 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 | IG | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | 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 | IG | 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 | IG Review | Octa Review |
| Overall | IG | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | IG Review | Octa Review |
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