Written by ForexBrokers.com
In this head to head comparison of Octa vs TeleTrade, 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.
Octa and TeleTrade are two online brokers, each with distinct histories and features. Founded in 2011, Octa has quickly built a presence in the trading industry, although it isn't publicly traded or bank-affiliated. It boasts one Tier-1 license and one Tier-2 license, reflecting its efforts to earn trust and regulatory approval. According to ForexBrokers.com, Octa has a Trust Score of 72 out of 99, placing it in the average risk category.
TeleTrade, on the other hand, was established in 1994 and, like Octa, is not publicly listed or considered a bank. It has a Tier-1 license, paralleling Octa's status when it comes to the highest level of regulatory trust. However, TeleTrade does not hold any Tier-2 licenses and holds a slightly lower ForexBrokers.com Trust Score of 71 out of 99, indicating a similar position in terms of average risk. Both brokers have strengths in their regulatory standings, suiting different trader preferences.
| Feature |
Octa
|
TeleTrade
|
|---|---|---|
| Year Founded | 2011 | 1994 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing Octa and TeleTrade in terms of commissions and fees, both brokers are rated with 4 stars. However, their rankings differ significantly, with Octa claiming the 28th spot out of 62 brokers, while TeleTrade stands at 46. Octa has made notable progress in improving its pricing structure, emerging as one of the more budget-friendly options among MetaTrader brokers. It offers the added benefit of no slippage on 97.5% of its executed orders and charges no overnight carry costs. Nonetheless, Octa imposes certain restrictions that could pose challenges for high-frequency traders.
Octa's pricing model varies based on your choice of account type and the regulatory entity governing it. European clients are catered to by Octa’s EU entity, where only MT5 accounts are available. International clients have the option of either South African or Mwali offshore entities, which provide accounts for both MT4 and MT5, plus the OctaTrader platform. The EU entity offers slightly more competitive spreads, with an average of 0.5 pips for the EUR/USD pair, compared to 0.9 pips for foreign entities. However, the absence of a date range for Octa's spread data means these figures lack the precision found in broker comparisons that offer well-sourced spread information.
TeleTrade, on the other hand, does not provide average spread data, which makes direct price comparisons with Octa challenging. Despite having similarities in their star ratings for fees and commissions, Octa's more favorable ranking suggests it provides a slightly more cost-effective experience for traders seeking MetaTrader functionalities without incurring high fees.
| Feature |
Octa
|
TeleTrade
|
|---|---|---|
| Minimum Deposit | $25 | $100 |
| Average Spread EUR/USD - Standard | 0.9 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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 exploring the investment offerings of online brokers, both Octa and TeleTrade present considerable choices, especially in forex trading. Octa provides 257 tradeable symbols, including 35 forex pairs, while TeleTrade offers a wider selection with 500 symbols and 61 forex pairs. Despite these differences, both brokers allow forex trading through CFDs or spot contracts, though neither enables the purchase of U.S. exchange-traded securities like Apple stocks. If access to international exchanges interests you, Octa allows the purchase of international securities, such as Vodafone shares, whereas TeleTrade does not.
On the cryptocurrency front, both brokers facilitate trading through derivatives rather than actual currencies. In addition, copy trading, a popular feature for those looking to mirror successful trading strategies, is available on both platforms. Despite their distinct strengths in the range of investments, both brokers share similar metrics with a 3.5-star rating for investment variety and slightly differ in rankings; Octa is positioned at #52 while TeleTrade stands at #45 in ForexBrokers.com's list of 62 brokers.
| Feature |
Octa
|
TeleTrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 257 | 500 |
| Forex Pairs (Total) | 35 | 61 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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 offered by Octa and TeleTrade, both brokers stand out by providing simulated or paper trading accounts, allowing newcomers and seasoned traders to hone their skills in a risk-free environment. Octa offers the advantage of a proprietary trading platform alongside industry staples like MetaTrader 4 and MetaTrader 5. In contrast, TeleTrade supports MetaTrader platforms but doesn't have its own in-house developed platform. However, TeleTrade distinguishes itself by collaborating with ZuluTrade for social trading features, whereas Octa does not offer this service. Both brokers maintain parity with 15 drawing tools for charting and providing the capability to trade directly from a stock chart, alongside support for desktop and web-based platforms.
In terms of watch list customization, both Octa and TeleTrade offer 7 columns or fields, catering to personalized trading preferences. Despite their similar ratings of four out of five stars for trading platforms and tools, Octa holds a higher rank at number 37 compared to TeleTrade's position at number 51 according to ForexBrokers.com. While they share many similarities, these subtle differences could influence a trader’s choice based on their individual needs for proprietary technology and third-party integrations like ZuluTrade.
| Feature |
Octa
|
TeleTrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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 | Yes |
| Charting - Indicators / Studies (Total) | 30 | 35 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Octa and TeleTrade offer convenient mobile trading apps compatible with iPhone and Android devices, catering to traders who need access on-the-go. With stock and forex price alerts available on each app, traders are kept informed about significant movements. While both platforms allow the creation of watchlists with real-time quotes, the syncing of these watchlists between the mobile app and the online account is currently not an option for either provider. When it comes to technical studies, TeleTrade holds a slight edge with 35 options compared to Octa’s 30, though both apps enable users to draw trendlines and view charts in different time frames like daily or weekly. Auto-saving of chart drawings is supported in both apps, adding to their functionality.
In terms of user ratings, both Octa and TeleTrade receive a solid 4-star rating for their mobile trading apps. However, when reviewing their overall rankings among 62 brokers, TeleTrade is positioned higher at rank #25, while Octa is ranked at #36 according to ForexBrokers.com. This difference highlights an area where TeleTrade might appeal more to users looking for a highly rated overall experience on their mobile devices.
| Feature |
Octa
|
TeleTrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 35 |
| 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 market research offerings between Octa and TeleTrade, both brokers provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. Octa stands out with the inclusion of technical analysis tools from Autochartist, which aren't available at TeleTrade. However, neither broker offers tools from Trading Central or sentiment-based trading features. Additionally, neither broker provides market research through TipRanks or Acuity Trading. Both Octa and TeleTrade offer an economic calendar to keep traders informed about global news events.
In terms of research quality, Octa is rated slightly higher with a 4-star rating, compared to TeleTrade's 3.5 stars. When ranked among 62 brokers by ForexBrokers.com, Octa holds the 26th position, whereas TeleTrade is ranked 38th in the research category. These differences highlight Octa's edge in providing diverse and useful market research tools, which may appeal to traders seeking enhanced analytical support for their trading decisions.
| Feature |
Octa
|
TeleTrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | 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, Octa emerges as a strong contender compared to TeleTrade. Octa provides over 10 educational materials, including articles, videos, and archived webinars focused on forex and CFDs. Additionally, it hosts regular educational webinars every month and maintains a searchable archive of previously recorded sessions. For those new to trading, Octa also offers more than 10 beginner-focused educational videos, along with advanced content for experienced traders.
Contrastingly, TeleTrade falls short in the educational department for forex and CFDs beginners. It lacks a substantial collection of educational materials in the form of articles or videos and does not conduct regular educational webinars. An investor dictionary with over 50 trading terms is also absent on their platform. As a result of these educational offerings, Octa is rated 4 stars for education and ranks #41 out of 62 brokers, while TeleTrade holds a 3.5-star rating and ranks at #61.
| Feature |
Octa
|
TeleTrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Octa is better than TeleTrade. Octa finished with an overall rank of #47, while TeleTrade finished with an overall rank of #50.
Octa offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
| Feature |
Octa
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TeleTrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 72 | 71 |
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Both Octa and TeleTrade do not offer the ability to buy actual delivered cryptocurrency; however, they do provide the option to trade cryptocurrency derivatives.
Both Octa and TeleTrade provide users the option to deposit or withdraw account funds using Skrill, Visa or Mastercard, and bank wires, while neither supports ACH, SEPA, or PayPal transactions.
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 | Octa | TeleTrade | |
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| Trust Score | 72 | 71 | |
| Winner | check_circle | ||
| Review | Octa Review |
| Broker Screenshots | Octa | TeleTrade | |
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| Regulation | Octa | TeleTrade | |
|---|---|---|---|
| Trust Score | 72 | 71 | |
| Year Founded | 2011 | 1994 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | Octa | TeleTrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | 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) | Octa | TeleTrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Octa | TeleTrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 257 | 500 | |
| Forex Pairs (Total) | 35 | 61 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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 | Octa | TeleTrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.9 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Octa | TeleTrade | |
|---|---|---|---|
| Minimum Deposit | $25 | $100 | |
| PayPal (Deposit/Withdraw) | No | 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 | Octa | TeleTrade | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | Yes |
| Trading Tools | Octa | TeleTrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 35 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Octa | TeleTrade | |
|---|---|---|---|
| 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 | 35 | |
| 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 | Octa | TeleTrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Octa | TeleTrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Octa | TeleTrade | |
|---|---|---|---|
| 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 | Octa Review |
| Overall | Octa | TeleTrade | |
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| Trust Score | 72 | 71 | |
| Winner | check_circle | ||
| Review | Octa Review |
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