Written by ForexBrokers.com
In this head to head comparison of Saxo 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.
When comparing the online brokers Saxo and Octa, their regulatory backgrounds offer critical insights for potential investors. Saxo, founded in 1992, is recognized for its highly trusted reputation and boasts a remarkable Trust Score of 99 according to ForexBrokers.com. As a licensed bank, Saxo holds seven Tier-1 licenses, indicating high trust, alongside one Tier-2 license. On the other hand, Octa, established in 2011, carries a Trust Score of 72, reflecting an average risk level. Although Octa is not a bank, it still maintains its reliability with one Tier-1 and one Tier-2 license.
Neither Saxo nor Octa are publicly traded entities, which means they are not listed on any stock exchange. However, their regulatory credentials shed light on their trustworthiness. Saxo's significant number of Tier-1 licenses underscores its strong position in providing trusted financial services. In contrast, Octa, with one Tier-1 license, suggests a more cautious approach but still maintains a level of trust through its regulatory compliance. For investors seeking a broker with a time-tested reputation and strong regulatory framework, Saxo stands out, while Octa offers a viable option for those comfortable with a moderate level of risk.
| Feature |
Saxo
|
Octa
|
|---|---|---|
| Year Founded | 1992 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing Saxo and Octa, Saxo stands out with its exceptional pricing strategy tailored for active and high-volume traders. Saxo offers tiered accounts with spreads as low as 0.9 pips for VIP and 1.1 pips for Classic accounts on the popular EUR/USD currency pair. The broker enjoys a prestigious rating of 5 stars in commissions and fees, ranking 9th out of 62 brokers according to ForexBrokers.com. Saxo provides commission-free Forex trading, with only a small fee for low-volume traders. The broker has no minimum deposit for its Classic account, though higher account tiers like the Platinum and VIP account require significant balances, offering benefits like access to exclusive events and analyst connections.
On the other hand, Octa has made significant strides in offering competitive pricing. While its spread for the EUR/USD pair varies by region, the average spread in the EU is a favorable 0.5 pips. Octa’s structured pricing has noticeably improved, keeping pace with cost-effective MetaTrader brokers. The broker carries a 4-star rating in commissions and fees and ranks 28th out of 62 brokers in the ForexBrokers.com standings. Octa's pricing model might deter high-frequency traders due to certain restrictions, although the absence of overnight carry costs is a beneficial feature.
Overall, while Saxo excels with lower spreads and comprehensive offerings, including a rewarding loyalty program and high user satisfaction for their VIP experience, Octa has also tightened the gap by enhancing its competitiveness and eliminating slippage on most orders. Both brokers have their unique strengths that cater to different trading needs and preferences.
| Feature |
Saxo
|
Octa
|
|---|---|---|
| Minimum Deposit | $0 | $25 |
| Average Spread EUR/USD - Standard | 1.1 | 0.9 |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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 comparing Saxo and Octa for their range of investment options, Saxo clearly stands out with an impressive offering. Saxo provides a vast selection of 70,000 tradeable symbols, significantly overshadowing Octa's 257 symbols. For forex trading enthusiasts, Saxo offers 190 tradeable forex pairs, whereas Octa provides 35. Both brokers support forex trading as a CFD or spot contract, and they offer copy trading for those interested in mimicking successful strategies. While neither broker allows the purchase of actual cryptocurrencies, they both offer cryptocurrency derivatives for trading enthusiasts.
Saxo gains an edge with its access to exchange-traded securities on U.S. and international exchanges, allowing clients to invest in major companies like Apple and Vodafone. Octa, meanwhile, only extends this option to international exchanges. This comprehensive range of offerings earns Saxo a high rating of 5 stars for Range of Investments and a notable #3 ranking out of 62 brokers on ForexBrokers.com. In contrast, Octa's more limited selection results in a 3.5-star rating and a #52 ranking. These differences highlight Saxo as the preferred choice for investors seeking a broad spectrum of investment opportunities.
| Feature |
Saxo
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 257 |
| Forex Pairs (Total) | 190 | 35 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | 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 comparing the trading platforms and tools of Saxo and Octa, both brokers provide traders with simulated trading through free virtual demo accounts and have developed their own proprietary platforms. Each broker offers a Windows-based desktop download for trading as well as a web-based platform accessible through a browser. Additionally, Saxo and Octa both support copy trading, allowing users to replicate the trades of successful investors. However, a significant difference lies in the support for the popular MetaTrader platforms: Octa offers both MT4 and MT5, whereas Saxo does not support these platforms. Neither broker provides DupliTrade or ZuluTrade services.
Looking at the charting tools, Saxo boasts 20 drawing tools versus Octa's 15. Saxo empowers users with advanced customization, offering 60 columns for watch lists, a substantial lead over Octa's 7 columns. Both platforms allow the convenience of trading directly from stock charts. In terms of ratings and rankings, Saxo shines with a 5-star rating, securing the top spot out of 62 brokers according to ForexBrokers.com. Octa, while also commendable with a 4-star rating, stands at the 37th position. This clear edge in various aspects makes Saxo a leading choice for traders seeking comprehensive platforms and tools.
| Feature |
Saxo
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Saxo and Octa, both platforms offer user-friendly applications for iPhone and Android devices, ensuring traders can access their portfolios on the go. They each provide features like price alerts for stocks or forex, trendline drawing capabilities, and the ability to view multiple time frames such as daily, weekly, or intraday charts. Both brokers also allow users to create watchlists with real-time quotes directly from the mobile app. However, Saxo stands out by offering seamless watchlist symbol syncing between its mobile app and online account, a feature not available with Octa.
In terms of charting tools, Saxo provides a superior experience with 64 technical studies compared to Octa's 30, and both platforms support auto-saving of chart drawings. This comprehensive feature set is reflected in user ratings, with Saxo earning a 5-star rating and a notable #2 rank out of 62 brokers for its mobile trading app, according to ForexBrokers.com. Meanwhile, Octa holds a respectable 4-star rating and ranks #36. Overall, while both platforms offer solid mobile trading experiences, Saxo's advanced features make it a preferred choice for many traders.
| Feature |
Saxo
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 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 Saxo and Octa, both brokers provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. They each feature tools from Autochartist to support in-depth technical and fundamental analysis. However, neither broker partners with Trading Central for additional analytical tools, nor do they offer market research through TipRanks or tools from Acuity Trading. Saxo stands out by offering a sentiment-based trading tool, helping traders see the ratio of long and short positions across various instruments, a feature not available with Octa. Both brokers include economic calendars that display key global events to keep traders informed.
Saxo excels in overall research, earning a perfect 5-star rating and securing the top rank among 62 brokers, as reviewed by ForexBrokers.com. In contrast, Octa receives a solid 4-star rating but places notably lower at 26th in the same ranking. This highlights Saxo's stronger emphasis on providing comprehensive market insights and tools, establishing it as a preferable choice for traders focused on research capabilities.
| Feature |
Saxo
|
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 it comes to educational resources for beginners, both Saxo and Octa provide a comprehensive range of materials to help new traders familiarize themselves with forex and CFDs trading. Both brokers offer over 10 educational pieces, including articles, videos, and archived webinars, focusing on forex and CFDs. They each provide monthly online educational webinars, ensuring that clients have the opportunity to enhance their knowledge regularly. Additionally, both Saxo and Octa offer a searchable archive of previously recorded webinars, allowing learners to access past insights at their own pace.
Saxo and Octa both cater to a broad audience by providing at least 10 educational videos tailored specifically for beginners, as well as for advanced traders. They also offer investor dictionaries, each containing definitions of over 50 investing terms, which can greatly aid newcomers in understanding the complex terminology of trading. However, Saxo stands out with a 5-star rating for education and ranks #13 out of 62 brokers in the education category by ForexBrokers.com, compared to Octa's 4-star rating and #41 ranking. This higher rating and ranking might make Saxo a preferable choice for those who place a premium on educational resources when selecting a broker.
| Feature |
Saxo
|
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 Saxo is better than Octa. Saxo finished with an overall rank of #3, while Octa finished with an overall rank of #47.
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 72 |
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When comparing Saxo and Octa, neither platform offers the ability to buy actual (delivered) cryptocurrency, but both provide options to trade cryptocurrency derivatives.
When comparing online brokers Saxo and Octa, neither offers ACH or SEPA transfers, PayPal is not available with either, but Octa provides Skrill as an option while Saxo does not; both brokers support Visa and Mastercard, as well as bank wire transactions for depositing or withdrawing account funds.
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 | Saxo | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Saxo Review | Octa Review |
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| Regulation | Saxo | Octa | |
|---|---|---|---|
| Trust Score | 99 | 72 | |
| Year Founded | 1992 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | 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) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | 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) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 257 | |
| Forex Pairs (Total) | 190 | 35 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | 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 | Saxo | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | Octa | |
|---|---|---|---|
| Minimum Deposit | $0 | $25 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Saxo | Octa | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | 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 | 64 | 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 | Saxo | 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 | Saxo | 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 | Saxo | 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 | Saxo Review | Octa Review |
| Overall | Saxo | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Saxo Review | Octa Review |
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