Written by ForexBrokers.com
In this head to head comparison of Plus500 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.
Plus500 and Octa are prominent online brokers, each with unique offerings and backgrounds. Founded in 2008, Plus500 is publicly traded and considered highly trusted, boasting a perfect Trust Score of 99 according to ForexBrokers.com. It is backed by 6 Tier-1 licenses and 3 Tier-2 licenses, which align with industry standards for high levels of trust and security. Despite not being a bank, Plus500 provides a reputable platform for traders seeking peace of mind concerning regulation.
On the other hand, Octa, established in 2011, is a private company with a Trust Score of 72, indicating an average risk level as per ForexBrokers.com ratings. Octa holds one Tier-1 and one Tier-2 license, reflecting its commitment to maintaining credibility in the trading market. Like Plus500, Octa is not a bank, but its lower number of licenses suggests a more moderate trust level compared to its counterpart. Users can weigh these regulatory factors to make informed decisions when selecting a broker.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Year Founded | 2008 | 2011 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 1 |
| Tier-2 Licenses | 3 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of online brokers Plus500 and Octa, several distinctions emerge. Plus500's pricing is slightly above the industry average, particularly when considering active trader pricing. They do not offer discounts to retail clients, although Professional clients may qualify for cash rebates similar to an active trader program. For April 2024, Plus500's spreads on the EUR/USD pair averaged 1.5 pips, which is higher than what many in the industry consider standard. With a 4.0-star rating for commissions and fees, Plus500 ranks #25 out of 62 brokers according to ForexBrokers.com.
On the other hand, Octa has made significant strides to improve its pricing structure, becoming more competitive with low-cost MetaTrader brokers. A key advantage of trading with Octa is the absence of slippage for 97.5% of executed orders and no overnight carry costs. However, restrictions are in place that might deter high-frequency traders. The fees you incur at Octa largely depend on your account type and the regulatory entity governing it. For European clients, Octa offers only one account type under its EU entity, while international clients have the choice of entities based in either South Africa or Mwali, catering to both MT4 and MT5 platforms.
Spreads at Octa can differ based on which entity you choose, with the company's EU branch offering an average spread of 0.5 pips on the EUR/USD, compared to 0.9 pips from its other entities. While Octa does not specify the date range for these spreads, they have generally been competitive. Octa earns a 4-star rating for commissions and fees and is ranked #28 out of 62 brokers on ForexBrokers.com. Overall, both Plus500 and Octa have their strengths, but Octa seems to offer more favorable spreads for certain account types, despite lacking explicit date data for its average spreads.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Minimum Deposit | €100 | $25 |
| Average Spread EUR/USD - Standard | 1.5 | 0.9 |
| All-in Cost EUR/USD - Active | 1.5 | N/A |
| Active Trader or VIP Discounts | No | 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 investments offered by Plus500 and Octa, it is evident that both brokers provide extensive trading options, yet they cater to different needs. Plus500 stands out with a vast selection of 5,500 tradeable symbols, including 65 forex pairs. In contrast, Octa offers a more modest repertoire with 257 symbols and 35 forex pairs. A distinct advantage of Plus500 is its access to U.S. and international exchange-traded securities, allowing clients to invest in major companies like Apple and Vodafone. Octa, while offering Vodafone, does not support U.S. exchange-traded securities, focusing instead on CFDs and forex. Both platforms provide cryptocurrency derivatives but do not allow the purchase of actual cryptocurrencies.
An additional point of differentiation is the availability of copy trading. This feature is offered by Octa, enabling users to follow and replicate the trades of successful investors, whereas Plus500 does not support this service. Overall, Plus500 achieves a higher rating for its range of investments, with 4.5 stars, compared to Octa's 3.5 stars. Plus500 also holds a better ranking in the Range of Investments category according to ForexBrokers.com, coming in at #24 out of 62, while Octa is positioned at #52. This comparative analysis highlights Plus500's broader market access, making it a suitable option for traders seeking a more comprehensive investment portfolio.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 257 |
| Forex Pairs (Total) | 65 | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | 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 Plus500 and Octa offer traders the opportunity to engage in simulated trading through free virtual demo accounts, making it easier for beginners to practice without risks. Each broker also provides a proprietary trading platform developed in-house, ensuring a tailored trading experience for their users. While Plus500 offers a web-based trading platform accessible through a browser, it does not support a Windows-based desktop download, unlike Octa, which offers both options. Furthermore, Octa provides copy trading features and compatibility with the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are absent from Plus500’s offerings. However, Plus500 features more drawing tools with 22 available for charting, compared to Octa's 15, and offers a more comprehensive watch list with ten fields compared to Octa's seven.
Despite these differences, both brokers are rated highly for their trading platforms and tools. Plus500 stands out with a rating of 4.5 stars, placing it at #14 out of 62 brokers on ForexBrokers.com. Meanwhile, Octa holds a 4-star rating, placing it at #37 in the same category. Although both brokers do not offer services like DupliTrade or ZuluTrade, Octa allows trading directly from a stock chart, providing a particular ease of use that Plus500 does not. Overall, the choice between Plus500 and Octa may come down to specific features like charting tools, platform accessibility, and third-party platform support, depending on a trader's individual needs.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | 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) | 114 | 30 |
| Charting - Drawing Tools (Total) | 22 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 10 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Plus500 and Octa offer options for iPhone and Android users, ensuring traders can access the markets on the go. Both platforms provide stock and forex price alerts, as well as the ability to draw trendlines and view multiple time frames on charts. However, Plus500 stands out with 110 technical studies available for charting, compared to Octa's 30. Plus500 also syncs watchlists between the mobile app and the online account, while Octa lacks this feature, making Plus500 a more cohesive tool for traders who switch between devices.
Although Plus500 doesn't auto-save chart drawings like Octa does, it still holds a higher rating of 4.5 stars compared to Octa's 4 stars for mobile trading apps. Ranked #14 out of 62 brokers by ForexBrokers.com, Plus500 is the more preferred choice for mobile trading, while Octa sits at #36. Both apps allow the creation of watchlists with real-time quotes, but Plus500's comprehensive features and superior integration with its online platform give it a clear edge in mobile trading.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 110 | 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.
Both Plus500 and Octa provide daily market commentary, offering valuable insights for traders who seek to stay informed with the latest market trends. However, Octa surpasses Plus500 by supplying forex news from esteemed sources like Bloomberg and Reuters, giving traders a broader understanding of market movements. In terms of research tools from well-known companies, Plus500 equips its users with Trading Central resources, which include tools like Technical Analytics, helping traders with in-depth technical analysis. On the other hand, Octa integrates with Autochartist, offering its own set of technical analysis resources, but lacks Trading Central support.
In terms of sentiment-based tools, Plus500 gives its users an advantage by providing a sentiment-based trading tool that displays the ratio of long or short positions across various currency pairs, which is absent in Octa’s offerings. Both platforms deliver an economic calendar to help traders track global news events. Although Plus500 and Octa both earn a research rating of 4 out of 5 stars, Plus500 edges out with a slightly higher position, ranked 19th in the research category by ForexBrokers.com, while Octa holds the 26th position out of 62 brokers. This ranking gives Plus500 a slight edge in overall market research appeal.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | 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 comparing the educational resources available to beginners from online brokers Plus500 and Octa, both platforms demonstrate a solid commitment to supporting new traders. Plus500 and Octa each provide a minimum of 10 educational pieces focused on forex and CFDs. They also host monthly online webinars and have searchable archives of these sessions, giving beginners ample opportunity to learn at their own pace. Moreover, both brokers offer at least 10 educational videos tailored specifically to beginners, with topics designed to introduce and demystify the trading experience.
For those seeking more in-depth knowledge, Plus500 and Octa extend their educational offerings with over 10 advanced videos each, targeting seasoned traders aiming to refine their skills. While both brokers have similar educational features, a notable distinction lies in Octa's comprehensive investor dictionary comprising definitions for over 50 investing terms, a feature not available with Plus500. Despite these offerings, both Plus500 and Octa receive identical ratings of 4 stars in the Education category. Plus500 is ranked slightly higher at #31 compared to Octa's #41 among 62 brokers, according to ForexBrokers.com. This might indicate a subtle edge in Plus500's educational delivery for some users. Overall, both platforms present good educational foundations, but user preferences may ultimately be guided by specific features like Octa's investor dictionary.
| Feature |
Plus500
|
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) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Plus500 is better than Octa. Plus500 finished with an overall rank of #14, while Octa finished with an overall rank of #47.
Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to a thorough selection of CFDs. Share trading is available, but only via its Plus500 Invest product offering.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 72 |
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Both Plus500 and Octa provide the option to buy cryptocurrency derivatives, but neither offer the ability to purchase actual (delivered) cryptocurrency.
While both Plus500 and Octa provide options for funding accounts through Skrill, Visa or Mastercard, and bank wires, Plus500 additionally supports PayPal transactions, but neither broker facilitates 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 | Plus500 | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Plus500 Review | Octa Review |
| Broker Screenshots | Plus500 | Octa | |
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| Regulation | Plus500 | Octa | |
|---|---|---|---|
| Trust Score | 99 | 72 | |
| Year Founded | 2008 | 2011 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 6 | 1 | |
| Tier-2 Licenses | 3 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Plus500 | 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) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Plus500 | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | 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 | Plus500 | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 257 | |
| Forex Pairs (Total) | 65 | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | 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 | Plus500 | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.5 | 0.9 | |
| All-in Cost EUR/USD - Active | 1.5 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Plus500 | Octa | |
|---|---|---|---|
| Minimum Deposit | €100 | $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 | Plus500 | Octa | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | 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 | Plus500 | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 10 | 7 | |
| Charting - Indicators / Studies (Total) | 114 | 30 | |
| Charting - Drawing Tools (Total) | 22 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Plus500 | 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 | 110 | 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 | Plus500 | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Plus500 | 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) | No | Yes |
| Major Forex Pairs | Plus500 | 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 | Plus500 Review | Octa Review |
| Overall | Plus500 | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Plus500 Review | Octa Review |
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