Written by ForexBrokers.com
In this head to head comparison of Octa vs TopFX, 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 TopFX, two online brokers, offer services for those interested in trading, but they have different credentials that may influence a trader's choice. Founded in 2011, Octa is not publicly traded and is not a bank. It holds 1 Tier-1 license and 1 Tier-2 license, which gives it a ForexBrokers.com Trust Score of 72. This places Octa in the average risk category according to ForexBrokers.com's criteria.
On the other hand, TopFX, established in 2010, is similarly neither publicly traded nor a bank. However, it holds just 1 Tier-1 license and no Tier-2 licenses, resulting in a slightly lower Trust Score of 67. Based on ForexBrokers.com ratings, this makes TopFX a higher-risk choice compared to Octa. Therefore, while both companies have their strengths, Octa's additional licensing provides a greater level of trust and security to its users over TopFX.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| Year Founded | 2011 | 2010 |
| 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 | 1 |
Octa has made significant strides in improving its pricing, closing the gap with the most affordable MetaTrader brokers. It offers a competitive environment with no slippage on 97.5% of executed orders and avoids overnight carry costs. However, there are restrictions that could affect high-frequency traders. The commissions and fees you incur at Octa depend on your account type and the specific regulatory entity. European clients use the EU entity where only an MT5 account is available, while international clients can choose between Octa's South African or Mwali entities, with options for both MT4 and MT5 accounts. Although Octa's spread pricing is largely competitive, there's no specific date range for the average spreads, which vary by regulatory entity, making precise comparisons challenging. Octa is rated 4 out of 5 stars for commissions and fees and ranks at #28 among 62 brokers according to ForexBrokers.com.
TopFX provides two primary account types on both MetaTrader and cTrader platforms: the spread-only ZERO account and the commission-based RAW account. The RAW account entails a commission of 2.75 EUR per side, equating to 5.50 EUR per round-turn standard lot. When factoring in the average spread of 0.33 pips for EUR/USD and the commission equivalent of 0.55 pips per round-turn, the total cost is about 0.88 pips, comparable to the industry average. Conversely, the ZERO account eliminates commissions but maintains higher average spreads of 1.03 pips for EUR/USD. TopFX also earns a 4-star rating for commissions and fees, though it is ranked lower at #40 out of 62 brokers by ForexBrokers.com.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| Minimum Deposit | $25 | Depends on payment method |
| Average Spread EUR/USD - Standard | 0.9 | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| 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 Octa and TopFX for their range of investments, both brokers offer forex trading as CFDs or spot contracts. Octa provides access to 257 tradable symbols, including 35 forex pairs, while TopFX expands the choice to 655 symbols, with 60 forex pairs available. Neither broker offers exchange-traded securities on U.S. exchanges, but Octa does allow trading on international exchanges, giving clients the opportunity to invest in companies like Vodafone on the London Stock Exchange. TopFX does not offer this feature.
Both Octa and TopFX support copy trading and allow clients to trade cryptocurrency derivatives, though neither offers the option to purchase actual cryptocurrencies. When it comes to ratings for range of investments, both firms receive 3.5 out of 5 stars. In terms of rankings by ForexBrokers.com, TopFX is positioned slightly higher at 46th, compared to Octa, which sits at 52nd out of 62 brokers. Despite differences in offerings, each platform provides a solid range of investment opportunities tailored to diverse trading needs.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 257 | 655 |
| Forex Pairs (Total) | 35 | 60 |
| 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 exploring the trading platforms and tools available with Octa and TopFX, investors will find both brokers offer a solid array of features. Octa stands out by providing a proprietary platform alongside popular offerings like MetaTrader 4 and MetaTrader 5, whereas TopFX only supports MetaTrader 4. Both brokers offer simulated trading with free virtual demo accounts, ensuring beginners can practice without financial risk. Whether preferring Windows-based desktop platforms or browser-based trading, Octa and TopFX cater to both preferences, further enhancing accessibility and convenience. Copy trading is also supported on each platform, allowing users to replicate experienced traders' strategies. Although neither broker offers DupliTrade or ZuluTrade, the platforms they do provide are comprehensive and user-friendly.
In terms of charting, both Octa and TopFX deliver a similar experience with 15 drawing tools and the capability to trade directly from stock charts. Investors who wish to monitor their interests will find both brokers offer watch lists with seven customizable columns. Despite these shared abilities, Octa achieves a slightly better ranking in the Trading Platforms and Tools category, coming in at #37 out of 62 brokers according to ForexBrokers.com, while TopFX ranks at #44. Both brokers achieve a commendable four-star rating for their platforms and tools, ensuring traders can access a wide range of necessary features regardless of their choice between the two.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| 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 | No |
| 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.
Both Octa and TopFX offer mobile trading apps compatible with iPhone and Android devices, ensuring you can access your trades from anywhere. They both provide alerts for stock and forex prices, allowing you to stay informed about market movements. Additionally, each app supports the creation of watchlists with real-time quotes, a feature crucial for active traders. While neither platform offers watchlist symbol syncing, they excel in charting capabilities, offering 30 technical studies and the functionality to draw trendlines. Users also have the flexibility to view various time frames, like daily, weekly, or intraday, and any drawings made on charts are automatically saved for both apps.
Octa and TopFX are evenly matched in delivering essential mobile trading features, each receiving a four-star rating for their mobile trading apps. Despite this similar performance level, Octa ranks higher on ForexBrokers.com, standing at #36 compared to TopFX's #51 out of 62 brokers. This slight edge may give Octa a favorable spot in the eyes of users looking for a reliable mobile trading experience.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| 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.
When comparing the research offerings of online brokers Octa and TopFX, it's clear that both provide forex news from top-tier sources like Bloomberg and Reuters. However, Octa takes the lead with its daily market commentary, a feature that TopFX lacks. Both brokers equip their users with powerful research tools from Autochartist, but only TopFX offers additional tools from Trading Central, which can aid in making well-informed trading decisions.
In terms of user sentiment tools, TopFX provides a sentiment-based trading tool to help traders gauge market moods, a service absent in Octa's offerings. Despite this, Octa still stands ahead with an overall higher research rating of 4 stars compared to TopFX's 3 stars. This difference is reflected in their respective rankings by ForexBrokers.com, with Octa positioned at #26 out of 62 brokers for research, while TopFX trails behind at #59. Both brokers offer an economic calendar displaying global news events, providing traders with essential information to navigate changing market conditions efficiently.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Octa and TopFX for educational resources aimed at beginners, Octa clearly stands out with a comprehensive offering. Octa provides more than 10 educational materials focused on forex and CFDs, which is a crucial step for beginners eager to build their trading knowledge. They offer monthly online webinars and maintain an easily accessible archive of past sessions. This provides valuable opportunities for new traders to learn at their own pace and revisit key concepts. Additionally, Octa excels in trading videos, offering over 20 videos that cover topics for both beginners and advanced traders. Their investor dictionary, with more than 50 terms, further enriches the learning experience, making complex topics easier to grasp.
On the other hand, TopFX falls short in these areas. They lack the minimum number of educational materials dedicated to forex and CFDs and do not offer monthly webinars or archives of previous sessions. The absence of a robust video library for beginners and experienced traders alike means that new investors might find it more challenging to develop their skills. Also, without an investor dictionary, beginners may struggle to familiarize themselves with essential trading terminology. Consequently, with Octa receiving a 4-star rating for education and ranking 41 out of 62 brokers according to ForexBrokers.com, it surpasses TopFX, which holds a 3-star rating and is ranked 60th in educational resources.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| 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 TopFX. Octa finished with an overall rank of #47, while TopFX finished with an overall rank of #61.
Octa offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
| Feature |
Octa
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TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 72 | 67 |
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Both online brokers, Octa and TopFX, do not offer the option to buy actual delivered cryptocurrencies, but they both provide the ability to trade cryptocurrency derivatives.
When comparing the online brokers Octa and TopFX in terms of account fund deposit and withdrawal options, both lack support for ACH or SEPA transfers, Octa doesn't support PayPal while TopFX does, both offer Skrill, Visa, and Mastercard options, and bank wires are available with both brokers.
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 | TopFX | |
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| Trust Score | 72 | 67 | |
| Winner | check_circle | ||
| Review | Octa Review | TopFX Review |
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| Regulation | Octa | TopFX | |
|---|---|---|---|
| Trust Score | 72 | 67 | |
| Year Founded | 2011 | 2010 | |
| 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 | 1 |
| Tier-1 Licenses (Highly Trusted) | Octa | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 257 | 655 | |
| Forex Pairs (Total) | 35 | 60 | |
| 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 | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.9 | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Octa | TopFX | |
|---|---|---|---|
| Minimum Deposit | $25 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| 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 | TopFX | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Octa | TopFX | |
|---|---|---|---|
| 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 | Octa | TopFX | |
|---|---|---|---|
| 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 | Octa | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Octa | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| 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 | TopFX Review |
| Overall | Octa | TopFX | |
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| Trust Score | 72 | 67 | |
| Winner | check_circle | ||
| Review | Octa Review | TopFX Review |
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