Written by ForexBrokers.com
In this head to head comparison of OANDA 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 1996, OANDA is a well-established online broker with a strong reputation. It is not publicly traded, nor is it a bank, but it holds an impressive seven Tier-1 licenses. This places OANDA in the highly trusted category, as per ForexBrokers.com's Trust Score rating, where it garners a score of 93 out of 99. This high trust score reflects OANDA's commitment to maintaining industry-leading regulatory standards, providing clients with confidence in their trading experience.
In comparison, Octa was founded in 2011 and, like OANDA, is neither publicly traded nor a bank. Octa holds one Tier-1 license and one Tier-2 license, showing a more modest regulatory backing compared to OANDA. With a Trust Score rating of 72, Octa falls into the average risk category according to ForexBrokers.com. While Octa offers certain protections for its clients, its regulatory credentials are less extensive than those of OANDA, offering a different level of trust and assurance for traders.
| Feature |
OANDA
|
Octa
|
|---|---|---|
| Year Founded | 1996 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
OANDA and Octa both offer competitive forex trading services with distinct pricing structures. OANDA's trading costs tend to be higher, with effective spreads often more costly than competitors. Featuring automated execution across its accounts, OANDA provides core pricing with reduced spreads and a $10,000 minimum deposit. This involves a $5 commission per $100,000 of currency. Their flexible trade sizes and Elite Trader program for active rebates are notable. Despite these offerings, OANDA's pricing transparency could be improved as it does not consistently publish average spread figures over fixed timeframes. OANDA is rated 4 stars for commissions and fees by ForexBrokers.com and ranks #34 out of 62 brokers.
Conversely, Octa has improved significantly, competing with the leading low-cost MetaTrader brokers. Notably, Octa imposes no slippage on most of its executed orders and no overnight carry costs. Fees vary by account type and regulatory jurisdiction, with spreads ranging from 0.5 to 0.9 pips for the EUR/USD pair depending on the entity. Despite not providing a date range for typical spreads, which affects transparency, Octa's pricing is generally favorable. Like OANDA, Octa is also rated 4 stars for commissions and fees, ranking slightly higher at #28 among the 62 brokers on ForexBrokers.com.
| Feature |
OANDA
|
Octa
|
|---|---|---|
| Minimum Deposit | $0 | $25 |
| Average Spread EUR/USD - Standard | 1.61 | 0.9 |
| All-in Cost EUR/USD - Active | 1.61 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | 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 OANDA and Octa in terms of available investments, both brokers provide access to forex trading either as CFDs or spot contracts. However, OANDA stands out with a more extensive selection, offering 3,928 tradeable symbols, including 68 forex pairs. In contrast, Octa provides 257 tradeable symbols with 35 forex pairs. While neither platform allows direct purchase of U.S. exchange-traded securities like Apple shares, Octa gives traders the option to invest in international stocks such as Vodafone on the London Stock Exchange, which OANDA does not. As for cryptocurrencies, OANDA offers the opportunity to purchase actual cryptocurrencies and their derivatives, whereas Octa only provides access to cryptocurrency derivatives.
Both OANDA and Octa support copy trading, catering to clients who prefer to follow and replicate the trades of successful investors. Overall, OANDA receives a slightly higher rating for its range of investments, earning 4 stars compared to Octa's 3.5 stars. According to ForexBrokers.com, OANDA is ranked 27th out of 62 brokers for investment options, whereas Octa is ranked 52nd. Despite these differences, each broker presents its own strengths, with OANDA offering a broader scope of trading opportunities and Octa providing unique international share options.
| Feature |
OANDA
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 257 |
| Forex Pairs (Total) | 68 | 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) | 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.
Both OANDA and Octa provide a complete suite of trading platforms and tools that cater to a wide range of traders, from beginners to professionals. Each broker offers a proprietary platform, allowing users access to their trading systems from Windows desktop or web-based browsers. Additionally, both brokers support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), making it easier for traders familiar with these popular tools to transition seamlessly. Each platform offers simulated paper trading through free virtual demo accounts to practice strategies without financial risk. Despite being similar in many aspects, OANDA and Octa do not support DupliTrade or ZuluTrade for social trading.
OANDA stands out with a more extensive collection of drawing tools, providing 431 compared to Octa's 15, which might appeal to traders who rely on diverse charting techniques. Octa, however, offers one additional field for watch lists, allowing for more detailed market tracking. Both brokers facilitate trading directly from stock charts, enhancing the user experience. While OANDA's Trading Platforms and Tools have been rated 4 stars and ranked #16 out of 62 brokers by ForexBrokers.com, Octa shares a similar 4-star rating but is ranked slightly lower at #37. Both platforms promise quality, yet their strengths cater to slightly different preferences within the trading community.
| Feature |
OANDA
|
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) | 81 | 30 |
| Charting - Drawing Tools (Total) | 431 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both OANDA and Octa provide solid options for traders using iPhone and Android devices. Each platform offers important features like stock and forex price alerts, the ability to draw trendlines, and the option to view charts in multiple time frames, ensuring traders have the tools they need at their fingertips. Both apps also automatically save drawings on charts and allow users to create watchlists with real-time quotes. A key similarity is the 30 technical studies available for charting on both platforms, providing traders with ample analytical options. However, neither OANDA nor Octa supports syncing watchlists between mobile and online accounts, which could be a downside for users who prefer seamless integration.
In terms of user satisfaction, ForexBrokers.com ranks OANDA's mobile app higher, giving it a five-star rating and placing it at #7 among 62 brokers. In contrast, Octa's app receives a four-star rating and ranks #36. These ratings suggest that while both platforms offer similar functionalities, OANDA may provide a slightly more refined mobile trading experience, as indicated by its higher ranking and user approval. Whether you're looking for comprehensive charting capabilities or a user-friendly interface, understanding these nuances can guide you in selecting the right mobile trading app for your needs.
| Feature |
OANDA
|
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.
OANDA and Octa offer comprehensive market research services for traders, featuring daily market commentary and access to forex news from reputable sources like Bloomberg, Reuters, and Dow Jones. Both brokers provide tools from Autochartist for technical and fundamental analysis, although neither supports Trading Central tools. When it comes to sentiment-based trading tools, OANDA stands out by offering resources that display trading sentiment ratios, unlike Octa. While neither broker provides research from TipRanks or Acuity Trading, both include an economic calendar for tracking global news events, enhancing their appeal to informed traders.
Despite their similarities, OANDA receives a 5-star rating for research and secures an impressive fifth place among 62 brokers according to ForexBrokers.com, outperforming Octa, which holds a 4-star rating and ranks 26th. This distinction highlights OANDA's stronger focus on providing insightful market analysis tools and resources, giving it an edge for traders seeking a more enriched research experience.
| Feature |
OANDA
|
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 comparing OANDA and Octa for their educational offerings to beginners, both platforms provide impressive resources. They each deliver a minimum of 10 educational pieces focused on forex and CFDs, including articles, videos, and archived webinars. Additionally, OANDA and Octa both host monthly online webinars for clients, enhancing the learning experience for novice traders. Their searchable archives of past webinars offer a convenient way to access previous lessons and gain further insights at any time.
For video content tailored specifically for beginners, both brokers meet the standard with at least 10 video tutorials each. Advanced traders are also catered to with the same quantity of in-depth educational videos offered by both. An investor dictionary with over 50 defined terms is accessible through each platform, making it easier for new traders to familiarize themselves with industry jargon. Despite their similarities, OANDA stands out slightly higher in the educational rankings, receiving a 5-star rating compared to Octa's 4 stars. This distinction places OANDA in the 22nd position out of 62 brokers on ForexBrokers.com's Education category, while Octa is ranked at 41st.
| Feature |
OANDA
|
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 OANDA is better than Octa. OANDA finished with an overall rank of #12, while Octa finished with an overall rank of #47.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 72 |
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OANDA provides the capability to purchase actual delivered cryptocurrency as well as cryptocurrency derivatives, whereas Octa only offers the option to buy cryptocurrency derivatives, not the actual cryptocurrency.
When comparing online brokers OANDA and Octa, OANDA offers a broader range of deposit and withdrawal options, including ACH/SEPA transfers, PayPal, and Skrill, while Octa provides only Skrill as an additional option, with both platforms supporting Visa/Mastercard and bank wires.
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 | OANDA | Octa | |
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| Trust Score | 93 | 72 | |
| Winner | check_circle | ||
| Review | OANDA Review | Octa Review |
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| Regulation | OANDA | Octa | |
|---|---|---|---|
| Trust Score | 93 | 72 | |
| Year Founded | 1996 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | OANDA | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | 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) | OANDA | 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 | OANDA | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 257 | |
| Forex Pairs (Total) | 68 | 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) | 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 | OANDA | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | 0.9 | |
| All-in Cost EUR/USD - Active | 1.61 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | Octa | |
|---|---|---|---|
| Minimum Deposit | $0 | $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 | Yes | No |
| Trading Platforms | OANDA | 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 | OANDA | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 30 | |
| Charting - Drawing Tools (Total) | 431 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | 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 | OANDA | 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 | OANDA | 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 | OANDA | 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 | OANDA Review | Octa Review |
| Overall | OANDA | Octa | |
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| Trust Score | 93 | 72 | |
| Winner | check_circle | ||
| Review | OANDA Review | Octa Review |
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