Written by ForexBrokers.com
In this head to head comparison of City Index 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.
City Index and Octa are both prominent online brokers, offering trading services across various financial markets. Established in 1983, City Index is a well-established broker that is publicly traded, while Octa, founded in 2011, remains privately held. Neither of the brokers operate as banks, but City Index stands out with a stellar ForexBrokers.com Trust Score of 99 out of 99, signifying a high level of trust amongst users.
In terms of regulatory credentials, City Index holds an impressive seven Tier-1 licenses, recognized as highly trusted by ForexBrokers.com, alongside one Tier-2 license. In comparison, Octa possesses one Tier-1 license and one Tier-2 license, earning it a Trust Score of 72, which is deemed to represent an average level of risk. These regulatory distinctions highlight City Index's commitment to secure and reliable trading services when compared to Octa.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Year Founded | 1983 | 2011 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
Comparing commissions and fees, City Index earns 4.5 out of 5 stars and ranks #15 of 63 brokers, while Octa scores 4 out of 5 stars and ranks #30. City Index’s pricing for CFDs, forex, and spread betting is about average across the industry and is most competitive on its proprietary platforms and MetaTrader. Octa has upgraded its pricing in recent years and now competes with low-cost MetaTrader brokers, though some data caveats remain.
City Index lists an average EUR/USD spread of 0.74 pips (July 2023), which keeps its all-in costs around the market norm—though still behind top discount names like Tickmill and FP Markets. Active traders can qualify for the Premium Trader account (typically with a £10,000+ deposit) for exclusive pricing and dedicated service. There are also volume-based rebates for professionals: in the U.K., £4 per million for over £25M in monthly volume, rising to £7.5 per million above £300M; in Australia, AUD $4.5 to $14.5 per million depending on tier.
Octa’s fees depend on your account type and which entity you use. In the EU (MT5-only), Octa lists an average EUR/USD spread of 0.5 pips, while its foreign entities show about 0.9 pips—though Octa doesn’t provide a date range for these averages, making direct, like-for-like comparisons harder. Octa also highlights no slippage on 97.5% of orders and no overnight carry costs, but it places limits that can affect high-frequency strategies. Outside the EU, Octa offers MT4, MT5, and OctaTrader accounts, with pricing that varies by region.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Minimum Deposit | £100.00 | $25 |
| Average Spread EUR/USD - Standard | 1.4 | 0.9 |
| All-in Cost EUR/USD - Active | 0.74 | N/A |
| Active Trader or VIP Discounts [DELETED] | ||
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) [DELETED] | ||
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
City Index and Octa both let you trade forex as CFDs or spot, and each supports copy trading plus cryptocurrency derivatives (but not actual crypto purchases). For sheer variety, City Index stands out with 13,500 tradeable symbols and 66 currency pairs, compared with Octa’s 300 symbols and 35 pairs.
When it comes to direct share dealing, neither broker offers U.S.-listed stocks. Octa does provide access to exchange-traded international shares, while City Index does not. Reflecting the breadth of products, City Index earns 5 stars and ranks #8 out of 63 brokers for Range of Investments, whereas Octa holds 3.5 stars and ranks #53.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 300 |
| Forex Pairs (Total) | 66 | 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.
City Index and Octa both cover the core needs for trading platforms and tools. Each offers a free demo (paper) account, a proprietary (in-house) platform, a Windows desktop platform, and a web-based platform. They both support copy trading and MetaTrader 4 (MT4), and each allows trading directly from charts—useful for acting on setups without switching screens.
The key difference is MetaTrader 5 (MT5): Octa offers MT5, while City Index does not. In ForexBrokers.com’s ratings for Trading Platforms and Tools, City Index scores 4.5 out of 5 stars and ranks #11 of 63 brokers, whereas Octa scores 4 stars and ranks #38. Information about DupliTrade, ZuluTrade, the number of technical indicators, drawing tools, and watchlist fields was not provided, so check with each broker if those details matter to you.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade [DELETED] | ||
| ZuluTrade [DELETED] | ||
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Drawing Tools (Total) [DELETED] | ||
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields [DELETED] |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing City Index vs Octa for mobile trading apps, both brokers offer iPhone and Android apps with price alerts and real-time watchlists. Independent ratings favor City Index: 4.5/5 stars and #9 out of 63 for Mobile Trading Apps at ForexBrokers.com, compared with Octa’s 4/5 stars and #37 ranking.
Feature-wise, City Index stands out for convenience and charting depth. Watchlists sync between the mobile app and your online account at City Index, while Octa does not support syncing. Both apps let you draw trendlines and will auto-save your chart drawings, but City Index packs 88 built-in technical studies versus Octa’s 30. For traders who rely on alerts, both brokers support stock and forex price alerts, yet City Index’s broader indicator library and syncing can make day-to-day management easier on the go.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | ||
| Mobile Charting - Trendlines Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both City Index and Octa are strong contenders when it comes to market research, offering daily market commentary and forex news from top-tier sources like Bloomberg and Reuters. However, they differ significantly in their specialized tools. City Index provides insights through Trading Central's technical analytics and boasts a sentiment-based trading tool to gauge market trends through long and short positions. In contrast, Octa does not offer any tools from Trading Central or sentiment-based analysis, but it does incorporate Autochartist's technical analysis tools, catering to a different set of trading preferences.
While both brokers include an economic calendar for tracking global news events, the additional strengths of City Index culminate in a research rating of 4.5 stars, ranking it 10th out of 63 brokers according to ForexBrokers.com. Octa trails slightly behind with a 4-star rating, positioned at 27th. Overall, City Index may better suit traders interested in a more comprehensive set of research tools and detailed market analysis, while Octa could appeal to those who prioritize tools from Autochartist.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Client sentiment data | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
City Index and Octa both cater well to beginners with plenty of trading videos and live learning. Each broker provides at least 10 beginner videos and at least 10 advanced videos, plus monthly client webinars to keep skills growing. In independent ratings, City Index pulls ahead with 4.5 out of 5 stars and a #9 education ranking out of 63 brokers at ForexBrokers.com, while Octa scores 4 out of 5 stars and ranks #42. If you’re new to forex or CFDs and want structured videos and regular webinars, both fit the bill, with City Index having the overall edge.
Some details weren’t specified: whether either broker has a searchable webinar archive, an investor dictionary with 50+ terms, or meets the broader “10+ total educational pieces across formats” threshold for forex/CFD education. Based on what is confirmed, beginners who value a larger video catalog and recurring webinars can choose either provider; those prioritizing higher third‑party education ratings may prefer City Index.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Education (Forex or CFDs) | ||
| Webinars | Yes | Yes |
| Client Webinars (Archived) [DELETED] | ||
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) [DELETED] |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that City Index is better than Octa. City Index finished with an overall rank of #8, while Octa finished with an overall rank of #47.
Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.
| Feature |
City Index
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Octa
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 72 |
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Both City Index and Octa do not offer the ability to buy actual delivered cryptocurrency, but they both provide the option to invest in cryptocurrency derivatives.
City Index supports ACH/SEPA, PayPal, and bank wire deposits/withdrawals but not Skrill, while Octa supports Skrill and bank wires but not ACH/SEPA or PayPal; Visa/Mastercard availability is unspecified for 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 | City Index | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | City Index Review | Octa Review |
| Broker Screenshots | City Index | Octa | |
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| Regulation | City Index | Octa | |
|---|---|---|---|
| Trust Score | 99 | 72 | |
| Year Founded | 1983 | 2011 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | City Index | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| 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) | City Index | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | City Index | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 300 | |
| Forex Pairs (Total) | 66 | 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 | City Index | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.74 | N/A | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | Octa | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $25 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | City Index | Octa | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | City Index | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | Octa | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | City Index | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | City Index | Octa | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | City Index | 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 | City Index Review | Octa Review |
| Overall | City Index | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | City Index Review | Octa Review |
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