Written by ForexBrokers.com
In this head to head comparison of Octa vs Xtrade, 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 Xtrade are online brokers that were founded in 2011 and 2003, respectively. Both companies are privately owned and are not listed on any stock exchange. Additionally, neither broker functions as a bank. When it comes to regulatory compliance, both Octa and Xtrade hold one Tier-1 license each, deeming them highly trusted according to ForexBrokers.com. They both also have one Tier-2 license, which signifies that they are trusted by the same standards.
In terms of trust scores, Octa and Xtrade are relatively similar. Octa holds a Trust Score of 72 out of 99 on ForexBrokers.com, placing it in the average risk category. Xtrade, on the other hand, has a slightly higher score of 74, also falling under the average risk bracket. This indicates that both brokers maintain a level of compliance and reliability that is generally well-regarded, though there’s room for improvement compared to higher-rated competitors.
| Feature |
Octa
|
Xtrade
|
|---|---|---|
| Year Founded | 2011 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When it comes to comparing commissions and fees, Octa has made significant strides in offering competitive pricing among online brokers. Although it previously faced challenges, Octa has now positioned itself closer to the lowest-cost MetaTrader brokers. Notably, Octa prides itself on a 97.5% rate of orders executed without slippage and avoids overnight carry costs. However, there are limitations that might pose issues for high-frequency traders. Octa offers various account types that may affect the commissions and fees, depending on which Octa entity regulates the account — either in the EU, South Africa, or Mwali.
Octa's spread pricing is influenced by the entity overseeing your account. For example, the EU entity offers a slightly more favorable average spread of 0.5 pips for the EUR/USD pair compared to 0.9 pips from their foreign entities. Nevertheless, Octa does not provide a specific date range for its average spread data, meaning exact comparisons are challenging. Despite this, Octa maintains an edge by aligning its pricing with some of the lowest-cost MetaTrader brokers available. Overall, Octa stands robust in its category with a 4-star rating and is ranked #28 out of 62 brokers for commissions and fees by ForexBrokers.com.
In contrast, Xtrade falls short in providing detailed average spread data, affecting its pricing transparency. As a result, Xtrade has received a lower rating of 2.5 stars for commissions and fees. Its rank is at the bottom of the list, coming in at #62 out of 62 brokers evaluated by ForexBrokers.com. This comparison highlights that while Octa has enhanced its offerings by improving cost efficiency, Xtrade still needs to make strides to compete effectively in commissions and fees.
| Feature |
Octa
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $25 | $250 |
| 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 | No |
| 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 considering Octa and Xtrade for your trading needs, both brokers offer forex trading as CFDs or spot contracts, yet they differ significantly in other investment options. With 257 tradeable symbols, Octa provides a more specialized selection compared to Xtrade's broader offering of 482 symbols. Octa offers 35 forex pairs, while Xtrade expands the choice with 56 pairs, giving traders more flexibility. However, if you're interested in trading exchange-traded international securities like Vodafone, Octa is your go-to, as Xtrade does not support this option. Both brokers allow trading of cryptocurrency derivatives, but neither provides the option to buy actual cryptocurrencies.
For traders interested in social trading, Octa offers copy trading, a feature absent from Xtrade's lineup. Both platforms receive the same rating of 3.5 stars for their range of investments, indicating a balanced but not exceptional offering. According to ForexBrokers.com, in a list of 62 brokers, Octa ranks at #52 while Xtrade is slightly ahead at #49. This ranking shows that both brokers have room for growth in expanding their investment options, making them suitable for traders interested in specific features rather than the widest range of investments.
| Feature |
Octa
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 257 | 482 |
| Forex Pairs (Total) | 35 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | No |
| 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 Octa and Xtrade, both brokers offer free virtual demo accounts, making it easy for beginners to practice trading without any risk. Both companies also provide a proprietary platform developed in-house, allowing users to trade with tools specifically designed for their platforms. Octa supports a wide range of platforms including a Windows-based desktop application and both MetaTrader 4 and MetaTrader 5, whereas Xtrade does not offer a Windows-based desktop platform or MetaTrader support. However, they both provide a web-based browser platform for convenience. Additionally, Octa offers copy trading as an option, which is not available with Xtrade.
For traders focused on charting tools, Xtrade provides an impressive number of 100 drawing tools compared to Octa's 15, giving traders more options to analyze market trends. Both brokers allow trades directly from stock charts, facilitating smoother trading experiences. In terms of watch list customization, Xtrade edges out slightly with nine fields compared to Octa's seven. Despite these differences, Octa receives a better overall rating for trading platforms and tools with 4 stars compared to Xtrade’s 3.5 stars. Furthermore, Octa ranks higher at #37 in the Trading Platforms and Tools category according to ForexBrokers.com, outpacing Xtrade, which is ranked at #58.
| Feature |
Octa
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | N/A |
| Charting - Drawing Tools (Total) | 15 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing Octa and Xtrade for mobile trading apps, both brokers offer applications compatible with iPhone and Android devices, catering to a broad range of mobile traders. What sets Octa apart is its robust offering of thirty technical studies for chart analysis and features like price alerts, which Xtrade does not provide. Octa traders can draw trendlines on charts and save their annotations, with the option to view these over various timeframes such as daily, weekly, or intraday. Additionally, Octa offers real-time watchlists, enhancing traders’ ability to track market movements on the go. Unfortunately, neither platform supports watchlist symbol syncing between the mobile app and the online account.
Despite these differences in features, both Octa and Xtrade receive the same four-star rating for mobile trading apps. However, their rankings differ when considering the broader market of 62 brokers, with Octa positioned at 36 and Xtrade trailing at 53 according to ForexBrokers.com. The ability to utilize advanced technical tools and real-time data on Octa's app might give traders a more comprehensive mobile trading experience, making it more attractive to those who value detailed charting capabilities. Xtrade, while lacking some advanced features, may appeal to users with simpler trading needs.
| Feature |
Octa
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research tools of Octa and Xtrade, both platforms provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. Octa, however, stands out by offering a technical analysis tool from Autochartist, a feature absent in Xtrade's offerings. Both brokers lack features such as Trading Central tools or sentiment-based trading tools that display the ratio of long or short positions. Additionally, neither Octa nor Xtrade includes research tools from firms like TipRanks or Acuity Trading.
Both Octa and Xtrade provide users with an economic calendar that displays global news events for a comprehensive market overview. Octa earns a higher research rating with 4 stars compared to Xtrade's 3.5 stars, a difference reflected in their rankings on ForexBrokers.com, where Octa is placed 26th and Xtrade at 52nd out of 62 brokers. This suggests that while both provide essential market commentary and news, Octa offers slightly more in terms of technical analysis tools, positioning it higher in overall research capability.
| Feature |
Octa
|
Xtrade
|
|---|---|---|
| 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 comparing the educational resources provided by Octa and Xtrade for beginners, both brokers offer a variety of educational materials including articles and videos on forex and CFDs trading. However, Octa stands out with its more diverse offerings, providing clients with monthly webinars and a searchable archive of previously recorded sessions, which Xtrade does not offer. Additionally, Octa caters to newer traders with a series of beginner videos, whereas Xtrade does not have a comparable collection.
For more advanced learners, Octa again takes the lead by offering in-depth videos that focus on topics for seasoned traders, a resource that Xtrade lacks. Both brokers do provide an investor dictionary with over 50 terms explained, but when considering overall educational quality, Octa receives a higher rating of 4 stars compared to Xtrade’s 3.5 stars. According to ForexBrokers.com, this difference in educational resources placement is reflected in their rankings, with Octa positioned slightly above Xtrade among 62 brokers in the education category, securing the #41 spot compared to Xtrade’s #46.
| Feature |
Octa
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| 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 | Yes |
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 Xtrade. Octa finished with an overall rank of #47, while Xtrade finished with an overall rank of #59.
Octa offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
| Feature |
Octa
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Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 72 | 74 |
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Both Octa and Xtrade provide the option to trade cryptocurrency derivatives, but neither platform allows for the purchase of actual delivered cryptocurrencies.
Both Octa and Xtrade provide options for depositing or withdrawing account funds via Skrill, Visa or Mastercard, and bank wires, whereas neither offers ACH, SEPA transfers, nor PayPal as payment methods.
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 | Xtrade | |
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| Trust Score | 72 | 74 | |
| Winner | check_circle | ||
| Review | Octa Review | Xtrade Review |
| Broker Screenshots | Octa | Xtrade | |
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| Regulation | Octa | Xtrade | |
|---|---|---|---|
| Trust Score | 72 | 74 | |
| Year Founded | 2011 | 2003 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Octa | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Octa | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 257 | 482 | |
| Forex Pairs (Total) | 35 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Octa | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $25 | $250 | |
| 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 | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Octa | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | N/A | |
| Charting - Drawing Tools (Total) | 15 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Octa | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Octa | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| 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 | Yes |
| Major Forex Pairs | Octa | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | Octa | Xtrade | |
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| Trust Score | 72 | 74 | |
| Winner | check_circle | ||
| Review | Octa Review | Xtrade Review |
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