Written by ForexBrokers.com
In this head to head comparison of Tickmill 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.
Tickmill and Octa are both private online brokers that were established in 2014 and 2011, respectively. Neither company is publicly traded or operates as a bank. When it comes to regulatory credentials, Tickmill stands out with 2 Tier-1 and 2 Tier-2 licenses, reflecting its status as a trusted broker. Octa, on the other hand, holds 1 Tier-1 and 1 Tier-2 license. These figures indicate that both brokers are regulated, but Tickmill offers more widespread coverage in terms of regulatory oversight.
Evaluating their trustworthiness, ForexBrokers.com gives Tickmill a Trust Score of 86 out of 99, placing it in the 'trusted' category. Conversely, Octa receives a Trust Score of 72, categorizing it as an 'average risk' broker. These scores help potential investors assess the reliability of these platforms before deciding which might better suit their trading needs.
| Feature |
Tickmill
|
Octa
|
|---|---|---|
| Year Founded | 2014 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
Tickmill ranks as a top choice for active traders with its competitive fee structure. Offering both Classic and Raw accounts, it provides options for different trading strategies. The Classic account is commission-free, with traders paying only the bid/ask spread, which averages 1.76 pips as of August 2023. In contrast, the Raw account features a low spread of 0.11 pips for EUR/USD but includes a $3 per side commission, resulting in an all-in cost of 0.71 pips. Tickmill’s Raw account, which requires a minimum deposit of $100, boasts efficient execution policies and low costs, making it an excellent option for traders, despite the recent increase in per-trade commissions. Tickmill earns a 5-star rating for commissions and fees and is ranked 4th among 62 brokers.
Octa has improved significantly in pricing, drawing closer to the most affordable MetaTrader brokers. Notably, it promises no slippage on 97.5% of orders and omits overnight carry costs, though restrictions may affect high-frequency traders. Commissions and fees at Octa vary based on account type and regulatory entity. European clients can only access MT5 through its EU entity, while international clients have the flexibility of MT4, MT5, and OctaTrader accounts. Spread pricing ranges from 0.5 pips for EUR/USD in its EU operations to 0.9 pips through foreign entities. Though Octa's spreads compete well with low-cost brokers, the lack of date references for typical spread data slightly muddles its full fee transparency. Octa holds a 4-star rating for commissions and fees, sitting at the 29th position among 62 brokers.
In summary, while both Tickmill and Octa offer competitive pricing and account versatility, Tickmill's robust rating and ranking demonstrate its appeal to both new and seasoned traders, particularly those engaged in high-volume trading. Octa, while showing commendable improvements in the commission and fee categories, implements varied structures across its global entities which may appeal more to impact-conscious traders seeking flexibility in platform options.
| Feature |
Tickmill
|
Octa
|
|---|---|---|
| Minimum Deposit | $100 | $25 |
| Average Spread EUR/USD - Standard | 0.51 | 0.9 |
| All-in Cost EUR/USD - Active | 0.31 | 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.
Tickmill and Octa both offer forex trading via CFD and spot contracts, providing diverse opportunities for currency trading enthusiasts. When comparing the number of overall tradeable symbols, Tickmill leads the way with 725 options, surpassing Octa's offerings of 300. This advantage also extends to forex pairs, where Tickmill provides 63 pairs compared to Octa's 35. It should be noted that neither broker offers direct trading of exchange-traded securities on U.S. exchanges. However, Octa distinguishes itself by offering access to international exchange-traded securities, allowing clients to invest in companies like Vodafone on the London Stock Exchange.
Both brokers facilitate copy trading and allow for trading in cryptocurrency derivatives, appealing to those interested in mirroring successful traders or engaging in crypto markets without owning the actual digital coins. Despite these offerings, direct purchase of cryptocurrencies is not supported by either platform. Evaluating their range of investments, both Tickmill and Octa receive a rating of 3.5 stars out of five. According to ForexBrokers.com, Tickmill is positioned slightly higher at #42 for range of investments, compared to Octa, which is ranked #52, highlighting a slight edge for Tickmill in this competitive area.
| Feature |
Tickmill
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 725 | 300 |
| Forex Pairs (Total) | 63 | 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) | 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.
Tickmill and Octa both offer a range of trading platforms and tools that cater to various trading needs. Both brokers provide simulated trading through free virtual demo accounts, making it easy for beginners to learn and experiment without financial risk. While Tickmill refrains from developing its own proprietary platform, Octa boasts a custom-built platform. Nonetheless, both brokers support popular platforms such as MetaTrader 4 and MetaTrader 5, and they offer Windows-based desktop download options and web-based trading solutions. Copy trading capabilities are also available with each broker, providing users with the opportunity to mirror experienced traders' strategies.
When it comes to charting tools, Tickmill and Octa each provide 15 drawing tools, allowing traders to perform detailed technical analyses. Both brokers enable trading directly from stock charts, which can streamline the trading process. For watch lists, they offer seven columns for fields, helping traders organize and prioritize their market data efficiently. Despite receiving the same four-star rating for their trading platforms and tools, Tickmill ranks slightly higher at #32 compared to Octa's #37 according to ForexBrokers.com, indicating minor differences in user experience and feature offerings.
| Feature |
Tickmill
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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) | 30 | 30 |
| 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.
When comparing the mobile trading apps of Tickmill and Octa, both brokers cater well to users on iPhone and Android devices, offering the essential functionality traders seek. Both apps provide important features such as stock or forex price alerts and the ability to draw trendlines directly on charts. They also allow users to view multiple time frames and come equipped with 30 technical studies to aid in their analysis. Users can create watchlists with real-time quotes, though neither app offers the convenience of syncing watchlists between devices, meaning changes must be manually updated on each platform.
Both Tickmill and Octa's mobile apps share a commendable four-star rating, but when it comes to their rankings, Tickmill edges slightly ahead, holding the 32nd position compared to Octa's 35th in the Mobile Trading Apps category, according to ForexBrokers.com. Ultimately, both platforms offer valuable tools for mobile traders, though users may choose based on their preferred ranking and potentially personal experience or brand loyalty.
| Feature |
Tickmill
|
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.
Both Tickmill and Octa are well-regarded online brokers that provide their users with daily market commentary and access to Forex news from top-tier sources such as Bloomberg and Reuters. While they both offer these essential research services, Tickmill and Octa display differences in some specific tools. For instance, Octa provides tools from Autochartist but neither broker offers technical analysis tools from Trading Central. Tickmill distinguishes itself by offering sentiment-based trading tools, a feature not available with Octa. However, only Tickmill complements its research offerings with tools from Acuity Trading, broadening the scope for users looking for advanced insights.
Excellence in research is reflected in their ratings, with both brokers receiving a solid four out of five stars. Despite the same rating, ForexBrokers.com ranks Tickmill slightly higher than Octa in the Research category, positioning Tickmill at #22 and Octa at #27 out of 62 brokers. Both brokers present an economic calendar, helping traders keep track of global news events. The slight differences in tool offerings and ratings suggest that choosing between Tickmill and Octa might depend on specific research tool preferences and the individual needs of the trader.
| Feature |
Tickmill
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Tickmill and Octa both stand out when it comes to offering educational resources geared towards beginners in forex and CFDs trading. Both platforms provide at least 10 articles, videos, or archived webinars focusing primarily on forex and CFDs, ensuring a solid foundation for new traders. They each host online educational webinars every month, which are also archived for future reference, allowing beginners to learn at their own pace. The inclusion of more than 10 educational videos specifically designed for beginners confirms that both brokers are dedicated to enhancing the knowledge of novice traders. Additionally, each platform is equipped with an investor dictionary containing over 50 terms, helping users become more familiar with trading jargon.
Despite their similarities in educational offerings, Tickmill and Octa have distinct rankings in the broader educational landscape. Both brokers receive a commendable rating of 4 out of 5 stars for education, showcasing their commitment to high-quality learning materials. However, Tickmill is ranked higher at 15th place compared to Octa, which comes in at 42nd out of 62 brokers according to ForexBrokers.com. This higher ranking may give Tickmill a slight edge in terms of perceived educational value, despite both brokers providing similar resources tailored for beginner traders.
| Feature |
Tickmill
|
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 Tickmill is better than Octa. Tickmill finished with an overall rank of #22, while Octa finished with an overall rank of #47.
Tickmill is a run-of-the-mill MetaTrader broker that offers a limited selection of tradeable securities. The broker does offer very competitive commission-based pricing for professionals through its VIP and Pro accounts.
| Feature |
Tickmill
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 72 |
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Both Tickmill and Octa lack the capability to facilitate the buying of actual delivered cryptocurrency, but they do offer options for purchasing cryptocurrency derivatives.
When comparing online brokers, Tickmill provides more versatile funding options by supporting PayPal and Skrill for transactions, alongside conventional methods like Visa, Mastercard, and bank wires, whereas OctaTrader permits Skrill, Visa, Mastercard, and bank wires, but lacks the PayPal option, and neither broker supports 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 | Tickmill | Octa | |
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| Trust Score | 86 | 72 | |
| Winner | check_circle | ||
| Review | Tickmill Review | Octa Review |
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| Regulation | Tickmill | Octa | |
|---|---|---|---|
| Trust Score | 86 | 72 | |
| Year Founded | 2014 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Tickmill | Octa | |
|---|---|---|---|
| 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) | 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) | Tickmill | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | 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 | Tickmill | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 725 | 300 | |
| Forex Pairs (Total) | 63 | 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) | 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 | Tickmill | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.51 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.31 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Tickmill | 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 | Tickmill | Octa | |
|---|---|---|---|
| Proprietary Platform | No | 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 | Tickmill | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Tickmill | 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 | Tickmill | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Tickmill | 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 | Tickmill | 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 | Tickmill Review | Octa Review |
| Overall | Tickmill | Octa | |
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| Trust Score | 86 | 72 | |
| Winner | check_circle | ||
| Review | Tickmill Review | Octa Review |
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