Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers, established in 1977, stands as a highly trusted online broker with a perfect Trust Score of 99 from ForexBrokers.com. It is publicly traded and holds an impressive nine Tier-1 licenses, reflecting its credibility and compliance with top regulators. Additionally, Interactive Brokers has two Tier-2 licenses, further bolstering its reputation as a premier broker in the industry. Though not a bank, its long-standing history and excellent regulatory record make it a go-to choice for many investors seeking a reliable trading platform.
In contrast, Octa, founded in 2011, offers a different trading environment with a Trust Score of 72, placing it in the average risk category. Unlike Interactive Brokers, Octa is not publicly traded. It holds one Tier-1 license and one Tier-2 license, which indicates a moderate level of regulatory oversight. While it is not a bank, Octa may appeal to traders who prioritize other factors, but individuals should consider its regulatory rating and relative youth in the financial markets before making a decision.
| Feature |
Interactive Brokers
|
Octa
|
|---|---|---|
| Year Founded | 1977 | 2011 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 1 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Interactive Brokers is highly rated for its competitive commission and fee structure, earning 5 stars and ranking #2 out of 62 brokers on ForexBrokers.com. It offers low all-in spreads for forex, with average spreads for the EUR/USD pair at 0.59 pips after commission. Commissions start at 0.00002 of the U.S. dollar trade value, with a minimum charge of $2 per side. This can drop significantly for exceptionally active traders. Interactive Brokers aggregates prices from major interbank forex dealers without marking up spreads, and offers discounts for high-volume traders, making it an attractive choice for both individual and large-scale forex traders.
In comparison, Octa has made strides in its pricing and now rates 4 stars, ranking #29 in the same category. Octa's commissions and fees depend on the chosen account type and regulatory entity. It advertises no slippage on a vast majority of executed orders and no overnight carry costs, though high-frequency traders may encounter restrictions. For spreads, Octa varies by entity, with its EU entity offering a tighter EUR/USD spread of 0.5 pips compared to 0.9 pips in other regions. However, the lack of a specified date range for its spread data makes precise comparisons difficult. Nonetheless, Octa shows improvements and aligns closely with low-cost MetaTrader brokers.
Overall, while Interactive Brokers offers a more detailed and flexible fee structure suitable for various trading volumes, Octa presents a competitive alternative with its improved pricing strategy. Users selecting between these two platforms should consider their specific trading needs and volume to choose the broker that best aligns with their trading strategy.
| Feature |
Interactive Brokers
|
Octa
|
|---|---|---|
| Minimum Deposit | $0 | $25 |
| Average Spread EUR/USD - Standard | 0.59 | 0.9 |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Interactive Brokers and Octa for their range of investments, Interactive Brokers stands out with a significantly larger selection. Interactive Brokers offers a vast 8,500 tradeable symbols, compared to Octa's 300. Both brokers provide forex trading through CFDs or spot contracts, with Interactive Brokers featuring 90 tradeable forex pairs, while Octa offers 35. Interactive Brokers offers clients the ability to buy actual cryptocurrency and exchange-traded securities on U.S. exchanges, including stocks like Apple. In contrast, Octa allows for trading cryptocurrency derivatives and lacks exchange-traded securities from U.S. exchanges, although it does support international exchanges. Additionally, Octa supports copy trading, a feature not available with Interactive Brokers.
In terms of rankings, Interactive Brokers leads the way, earning a 5-star rating for its range of investments and claiming the top spot among 62 brokers in this category, according to ForexBrokers.com. On the other hand, Octa holds a 3.5-star rating and ranks 52nd out of the same group. This clearly showcases Interactive Brokers as the superior choice for investors seeking a wider array of investment options and geographic reach in their trading portfolio, while Octa offers a more limited selection with unique features like copy trading.
| Feature |
Interactive Brokers
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 300 |
| Forex Pairs (Total) | 90 | 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) | Yes | 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.
Interactive Brokers and Octa both offer traders comprehensive platforms, starting with free simulated trading options, allowing users to practice without risk. Each broker provides a proprietary platform, accessible through Windows-based desktop downloads and via web browsers. While both companies support in-depth trading from stock charts, Interactive Brokers offers an expansive set of 85 drawing tools and an impressive 659 options for watch list customization, contrasting with Octa's 15 drawing tools and 7 watch list fields. Despite these differences, both companies enable engaging trading experiences, albeit through different strengths.
Octa sets itself apart by providing MetaTrader 4 and MetaTrader 5, popular platforms favored for their user-friendly interfaces and community features like copy trading, which is not available with Interactive Brokers. While Octa leverages these platforms, Interactive Brokers focuses on its wide array of tools and high customizability, earning it a five-star rating versus Octa's four stars in trading tools. ForexBrokers.com ranks Interactive Brokers at third among 62 brokers, underscoring its strength in trading tools, while Octa holds the 37th position, reflecting solid but less diverse offerings.
| Feature |
Interactive Brokers
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Interactive Brokers and Octa, both provide essential tools for trading on the go. Each offers apps for iPhone and Android, complete with features like price alerts and real-time quote watchlists. However, a standout difference is the watchlist symbol syncing capability. Interactive Brokers excels by allowing users to seamlessly sync their watchlists between the app and their online accounts, while Octa lacks this feature. In terms of charting, Interactive Brokers impresses with 97 technical studies and the ability to draw trendlines, though it does not auto-save these drawings. Octa, on the other hand, offers 30 technical studies, alongside the ability to draw and auto-save trendlines, catering to users looking for automatic saving options.
For those interested in evaluating app performance and user satisfaction, ratings provide a clear picture. Interactive Brokers achieves a top-tier 5-star rating for its mobile trading capabilities, ranking 4th out of 62 brokers according to ForexBrokers.com. Octa, while still strong, holds a 4-star rating and ranks 35th. Both apps allow viewing of multiple time frames on charts, supporting daily, weekly, or intraday views, making them flexible for various trading strategies. Ultimately, Interactive Brokers appears to offer a more comprehensive mobile trading experience, particularly for users who require extensive chart studies and seamless account syncing. However, Octa’s features and auto-save capability could be attractive for traders looking for simplicity and automatic backup of their chart annotations.
| Feature |
Interactive Brokers
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Interactive Brokers and Octa for market research, both platforms offer daily market commentary and forex news from esteemed sources like Bloomberg and Reuters. Interactive Brokers excels with a broader range of analytical tools, including offerings from companies like Trading Central and Acuity Trading and a sentiment-based trading tool, which displays the ratio of long or short positions across currency pairs. Octa differentiates itself by providing tools from Autochartist for technical analysis, which Interactive Brokers does not offer. Both platforms feature comprehensive economic calendars listing global news events.
Interactive Brokers leads in market research with a five-star rating and ranks 3rd among 62 brokers on ForexBrokers.com. Their access to market insights from TipRanks and various advanced analysis tools contribute to this high rating. Conversely, Octa holds a four-star rating and ranks 27th, indicating a solid performance but less comprehensive research offerings compared to Interactive Brokers. In conclusion, while both brokers provide valuable market research, Interactive Brokers caters more extensively to traders seeking detailed insights and a wide array of research tools.
| Feature |
Interactive Brokers
|
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) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners between Interactive Brokers and Octa, both platforms provide valuable learning tools. Interactive Brokers and Octa offer comprehensive forex or CFDs education, each providing more than 10 pieces of educational content such as articles and videos. They also host online educational webinars for clients monthly, and both maintain a searchable archive of past webinars, allowing beginners to learn at their own pace. Furthermore, both brokers feature more than 10 educational videos specifically tailored for beginners, giving novice traders a solid foundation in trading concepts. Additionally, they each offer an investor dictionary with a wealth of over 50 investing terms to aid in financial literacy.
Despite these similarities, user ratings and educational rankings differ between the two platforms. Interactive Brokers boasts a perfect 5-star rating for education and is ranked #3 out of 62 brokers on ForexBrokers.com, distinguishing it as a top choice for educational resources. Meanwhile, Octa receives a commendable 4-star rating and is positioned at #42 in the same category, indicating reliable yet less extensive educational offerings when compared to Interactive Brokers. These differences suggest that while both platforms offer excellent resources, Interactive Brokers may cater more effectively to those seeking a higher level of educational support.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than Octa. Interactive Brokers finished with an overall rank of #2, while Octa finished with an overall rank of #47.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
|
Octa
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 72 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Interactive Brokers allows users to buy both actual delivered cryptocurrency and cryptocurrency derivatives, while Octa only provides the option to buy cryptocurrency derivatives.
Interactive Brokers supports ACH and SEPA transfers along with bank wires for funding and withdrawing account funds, whereas Octa offers funding options via Skrill, Visa, Mastercard, and bank wires but lacks ACH and SEPA transfer support, with neither platform providing PayPal as an option.
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
2 of 5| Overall Rating | Interactive Brokers | Octa | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Octa Review |
| Broker Screenshots | Interactive Brokers | Octa | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | Interactive Brokers | Octa | |
|---|---|---|---|
| Trust Score | 99 | 72 | |
| Year Founded | 1977 | 2011 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 1 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | 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) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 300 | |
| Forex Pairs (Total) | 90 | 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) | Yes | 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 | Interactive Brokers | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | Octa | |
|---|---|---|---|
| Minimum Deposit | $0 | $25 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | Octa | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 97 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review | Octa Review |
| Overall | Interactive Brokers | Octa | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Octa Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill