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 account | 1.4 | 0.9 |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
City Index offers a far wider range of markets than Octa, with 13,500 tradeable symbols versus Octa’s 300. For currency traders, City Index lists 66 forex pairs compared with Octa’s 35, and both brokers let you trade forex via CFDs or spot. When it comes to direct share dealing (not CFDs), neither broker supports U.S.-listed stocks; City Index also does not offer direct shares on international exchanges, while Octa does provide access to exchange-traded securities on certain international markets.
Both brokers support copy trading and let you speculate on cryptocurrencies through CFDs, but neither lets you buy actual crypto. For range of investments, City Index earns 5 stars and ranks #8 out of 63 brokers, while Octa receives 3.5 stars and ranks #53. In short: choose City Index if you want the broadest overall selection of markets, or consider Octa if access to exchange-traded international shares matters more than quantity.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 300 |
| Forex Pairs (Total) | 66 | 35 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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 vs Octa: both online brokers deliver a full spread of trading platforms and tools. Each offers a free demo (paper) account, a proprietary in-house platform, Windows desktop software, and a web-based platform. You also get MetaTrader 4 (MT4), copy trading, and the convenience of placing orders directly from charts. Specific counts for built-in technical indicators and watchlist columns aren’t provided here.
The main platform difference is MetaTrader 5 (MT5): Octa supports MT5 while City Index does not. In independent testing for Trading Platforms and Tools, City Index scores 4.5/5 stars and ranks #11 out of 63 brokers, while Octa scores 4/5 and ranks #38. If you want MT5, Octa is the better fit; if you prefer a higher-rated overall platform suite, City Index stands out.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and Octa both offer mobile trading apps for iPhone and Android, and each supports price alerts. Where they differ is depth and convenience: City Index syncs watchlists between the app and your web account, while Octa does not. For charting, both apps let you draw trendlines and will auto-save those drawings, but City Index supplies far more technical indicators (88 versus Octa’s 30), giving traders more ways to analyze stocks and forex pairs on the go.
Ratings reflect these gaps. According to ForexBrokers.com, City Index earns 4.5 stars and ranks #10 out of 63 brokers for Mobile Trading Apps, while Octa scores 4 stars and ranks #37. If you want richer charting tools and seamless watchlist syncing, City Index is the stronger fit. If you only need core features like iPhone/Android access, alerts, and basic charting, Octa covers the essentials.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | 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 (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | No |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
City Index and Octa both provide forex and CFD education that clears the common 10-piece benchmark. Each runs ongoing client webinars (at least one per month) and offers 10+ beginner videos, so new traders can learn through short lessons and live sessions on either platform. Where they differ is in quality signals: City Index holds a 4.5-star Education rating and ranks #9 out of 63 brokers at ForexBrokers.com, while Octa has a 4-star rating and ranks #42.
Both brokers also include 10+ advanced videos for when you’re ready to go beyond the basics. For learners who want a wider, better-rated education experience, City Index stands out based on its higher rating and top-10 ranking. Octa remains a solid option for beginners who want plenty of videos and regular webinars but don’t require a top-ranked program.
| Feature |
City Index
|
Octa
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
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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In a head-to-head comparison, City Index and Octa do not support buying actual (delivered) cryptocurrencies, but both brokers offer cryptocurrency CFD trading.
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 (FSA 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. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 account | 1.4 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order 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 | |
| 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 [DELETED] | |||
| Mobile Watchlists - 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 (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | 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 [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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