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 structure, bringing it closer to being one of the most affordable MetaTrader brokers. A key advantage of Octa is the absence of slippage on 97.5% of its executed orders and the elimination of overnight carry costs. However, high-frequency traders might find some restrictions challenging. The fees and commissions at Octa are largely dependent on the specific account type and the regional entity under which your account is regulated, with European clients typically trading via the EU entity and international clients through entities in South Africa or Mwali. Notably, Octa's spreads vary by region, with the EU entity offering slightly better spreads such as 0.5 pips on the EUR/USD pair compared to 0.9 pips for its international entities. While Octa does not disclose a date range for its average spread data, its pricing improvements have been recognized with a 4-star rating and it ranks #29 out of 62 brokers for commissions and fees.
TopFX offers competitive pricing through two main account types: the spread-only ZERO account and the commission-based RAW account, both accessible via MetaTrader and cTrader platforms. The RAW account incurs a commission fee of 2.75 EUR per side, adding up to 5.50 per round turn for a standard lot. For the EUR/USD pair, this account features an average spread of 0.33 pips as recorded in July 2024, resulting in an all-in cost of approximately 0.88 pips, aligning with industry norms. On the other hand, the ZERO account does not charge commissions but applies higher average spreads of 1.03 pips for the EUR/USD for the same period. TopFX has also earned a 4-star rating for its external trading costs and holds the #40 position among 62 brokers in the ForexBrokers.com Commissions and Fees category.
In summary, while both Octa and TopFX provide competitive options for traders, Octa edges slightly ahead with its cost-effective offerings and superior ranking. Its focus on reducing costs like slippage and overnight fees may appeal to traders seeking lower trading expenses. Meanwhile, TopFX's meticulous structure of spread and commission across different accounts gives traders flexibility based on their trading preferences. Both brokers maintain solid reputations with their 4-star ratings, making them reliable choices within the industry.
| 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 the investment options offered by Octa and TopFX, it's clear that both brokers provide a platform for forex trading, allowing clients to engage with forex through CFD or spot contracts. Octa offers a selection of 300 tradeable symbols and 35 different forex pairs, while TopFX expands its offering with 655 symbols and 60 forex pairs. However, neither broker extends access to exchange-traded securities on U.S. exchanges, meaning clients cannot directly purchase shares such as Apple (NASDAQ: AAPL) from either platform.
Although TopFX offers a broader range of tradeable symbols, Octa provides access to international exchange-traded securities, enabling users to invest in companies like Vodafone on the London Stock Exchange, which is not an option with TopFX. Both platforms accommodate modern trading preferences by supporting copy trading and offering cryptocurrency derivatives, though neither facilitates the purchase of actual cryptocurrencies. Despite these similarities and unique offerings, both Octa and TopFX are rated equally with 3.5 stars for their range of investments, placing them at ranks 52 and 46 respectively out of 62 brokers as per ForexBrokers.com.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 300 | 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 robust mobile trading experiences for iPhone and Android users. Their apps allow traders to stay informed with stock or forex price alerts and create watchlists with real-time quotes. While both brokers do not support watchlist symbol syncing, they make up for it with 30 technical studies for charting. Additionally, traders can draw trendlines and view various time frames, such as daily, weekly, or intraday. The convenience of auto-saving chart drawings is also present in both apps, making it easier for users to manage their investments on the go.
In terms of ratings, both Octa and TopFX score 4 out of 5 stars in mobile trading apps. However, Octa ranks slightly higher at #35, compared to TopFX, which comes in at #51 out of 62 brokers, according to ForexBrokers.com. Whether you're focused on technical analysis or straightforward trading features, both platforms provide essential tools, but Octa seems to have a slight edge in overall rankings.
| 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
|
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) | 300 | 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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