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 evaluating Saxo and Octa for their commission and fee structures, Saxo stands out for its competitive pricing, particularly for active and high-volume traders or those who can maintain large account balances. Saxo offers three account tiers—Classic, Platinum, and VIP—each with different pricing strategies. Average spreads for the popular EUR/USD currency pair are slightly higher for the Classic account at 1.1 pips but decrease to 1.0 and 0.9 pips for Platinum and VIP accounts, respectively. Saxo shines with a commission-free structure in forex trading, although a ticket fee applies to traders dealing in smaller volumes. Saxo has earned a 5-star rating for commissions and fees and is ranked #9 out of 62 brokers by ForexBrokers.com.
Conversely, Octa has made notable improvements in its pricing, gaining traction as a cost-effective MetaTrader broker. While facing historical challenges, Octa now offers better pricing options, especially for European clients with an average spread of 0.5 pips for the EUR/USD pair, in contrast to the foreign entities' 0.9 pips. Octa boosts its competitive edge with a no-slippage guarantee on a significant portion of executed orders and no overnight carry costs. However, the lack of a date range for typical spread data gives less credibility to their pricing claims. Octa received a 4-star rating for its commissions and fees and is ranked #29 out of 62 brokers.
For traders who prioritize low commissions and fees, Saxo offers an overall better pricing structure, especially beneficial for those reaching higher trading volumes and those interested in upgrading through loyalty programs. On the other hand, Octa is improving in this space and offers value for traders using MetaTrader platforms, although with some limitations for high-frequency trading. Both brokers present different advantages depending on trading activity and account features preferred by the investor.
| 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 investment opportunities, Saxo offers a broader range of options. Saxo provides access to 70,000 tradeable symbols, significantly more than Octa’s 300. Both platforms support forex trading as CFDs or spot contracts, but Saxo leads with a choice of 190 forex pairs compared to Octa's 35. Another key difference is Saxo's ability to offer exchange-traded securities on U.S. exchanges, allowing clients to purchase shares of well-known companies like Apple, a feature not available with Octa. However, both brokers provide the option to trade on international exchanges and offer copy trading, which can attract investors interested in mirroring the trades of experienced peers.
In the area of cryptocurrency trading, neither Saxo nor Octa facilitates the purchase of actual cryptocurrencies, but they do offer cryptocurrency derivatives. Overall, Saxo is rated higher with 5 stars for its range of investments, while Octa receives a 3.5-star rating. According to ForexBrokers.com, Saxo ranks 3rd out of 62 brokers for investment variety, showcasing its comprehensive offerings. In contrast, Octa is ranked 52nd, suggesting it may be better suited for traders with less diverse investment needs.
| Feature |
Saxo
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 300 |
| 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.
Saxo and Octa both offer mobile trading apps for iPhone and Android, providing users with the flexibility to trade on the go. Both apps support stock or forex price alerts, keeping traders well-informed of market movements. Additionally, they allow users to draw trendlines and view multiple time frames on charts, enhancing the technical analysis experience. Furthermore, both apps offer the ability to create watchlists with real-time quotes for quick access to favorite stocks or currencies.
However, there are notable differences between the two. Saxo stands out by offering 64 technical studies for charting in its mobile app, compared to 30 offered by Octa. Saxo's app also features watchlist symbol syncing, allowing seamless transitions between mobile and online accounts, a feature Octa does not provide. When it comes to app ratings, Saxo earns 5 stars compared to Octa's 4 stars. Such distinctions contribute to Saxo's higher ranking of #2 among 62 brokers in the Mobile Trading Apps category, while Octa is ranked #35.
| 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
|
Octa
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 72 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Saxo | Octa | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Saxo Review | Octa Review |
| Broker Screenshots | Saxo | Octa | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| 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 | 300 | |
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Saxo Review | Octa Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill