City Index vs OctaFX Comparison
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare City Index vs OctaFX.
Does City Index or OctaFX offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, City Index offers better pricing overall for traders.
Is City Index or OctaFX safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. City Index holds 7 global Tier-1 licenses, while OctaFX holds 1. Both City Index and OctaFX hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, City Index (99) earned a higher Trust Score than OctaFX (70).
Which trading platform is better: City Index or OctaFX?
To compare the trading platforms of both City Index and OctaFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, City Index offers a better experience. With research, City Index offers superior market research. Finally, we found City Index to provide better mobile trading apps.
What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both City Index and OctaFX offer MetaTrader 4 (MT4).City Index and OctaFX both offer copy trading.
How many forex pairs and CFDs are available to trade?
City Index provides traders 84 currency pairs (e.g., EUR/USD) compared to OctaFX's 40 available pairs. Forex pairs aside, City Index offers traders access to 13500 CFDs while OctaFX has 229 available CFDs, a difference of 13271.
Can I trust City Index?
City Index is publicly traded, does not operate a bank, and is authorised by seven Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Rier-3 regulator (Average Risk), and one Tier-4 regulator (High Risk). City Index is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), Canadian Investment Regulatory Organization (CIRO), Japanese Financial Services Authority (JFSA), Commodity Futures Trading Commission (CFTC), Financial Conduct Authority (FCA), and the European Union via MiFID.
Can I trust OctaFX?
OctaFX 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). OctaFX is authorised by the following tier-1 regulators: European Union via MiFID.
Is City Index good?
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.
Is OctaFX good?
OctaFX offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
Overall winner: City Index
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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.