Octa vs Xtrade 2024

Octa is not publicly traded and does not operate a bank. OctaFX is authorised by one Tier-1 regulator (high trust), one Tier-2 regulator (average trust), zero Tier-3 regulators (low trust), and zero Tier-4 regulators (High Risk). Octa is authorised by the following Tier-1 regulators: Regulated in the European Union via the MiFID passporting system.

Xtrade is not publicly traded and does not operate a bank. Xtrade is authorised by one Tier-1 regulator (highly trusted), one Tier-2 regulator (trusted), zero Tier-3 regulators (average risk), and one Tier-4 regulator (high risk). Xtrade is authorised by the following Tier-1 regulator: in the European Union via the MiFID passporting system.

Octa offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.

Xtrade offers forex and CFD traders its own newly updated and redesigned trading platform, yet with just below 500 symbols that you can trade and recent regulatory issues it trails behind the best forex brokers.

To open a trading account with Octa, you'll need to make an initial minimum deposit of $25.

Xtrade requires a minimum deposit of $250 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both Octa and Xtrade offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Octa offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Both Octa and Xtrade hold 1 global Tier-1 licenses. Both Octa and Xtrade hold 1 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Xtrade (74) earned a higher Trust Score than Octa (70).

To compare the trading platforms of both Octa and Xtrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Octa offers a better experience. With research, Octa offers superior market research. Finally, we found Octa to provide better mobile trading apps.

Here’s what trading platforms are available at Octa:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

Here’s what trading platforms are available at Xtrade:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Octa offers MetaTrader 4 (MT4), while Xtrade does not. Forex traders also appreciate the ability to engage in social copy trading. While Octa offers copy trading, Xtrade does not.

Xtrade provides traders 56 currency pairs (e.g., EUR/USD) compared to Octa's 52 available pairs. If you are interested in trading a full range of securities, Xtrade offers traders access to 482 tradeable symbols, while Octa offers access to 277 tradeable symbols; so Xtrade offers 205 more tradeable symbols than Octa.

We found in our testing that Xtrade offers a more diverse selection of investment options than Octa, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Int'l Stock Trading (Non CFD), Cryptocurrency (Physical) and Spread Betting.