Written by ForexBrokers.com
In this head to head comparison of Eightcap 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.
When it comes to online brokers, Eightcap and Octa offer different levels of trustworthiness and regulatory oversight. Eightcap, founded in 2009, holds three Tier-1 licenses, which are highly respected in the industry, and has an overall Trust Score of 85 out of 99, according to ForexBrokers.com. This score indicates that Eightcap is considered a trusted broker. In comparison, Octa, established in 2011, holds just one Tier-1 license and one Tier-2 license, achieving a Trust Score of 72 out of 99, categorizing it as average risk. Both brokers are privately held and not tied to banks, providing investors with straightforward brokerage services.
Choosing between these two brokers involves considering their founding years, license holdings, and trust scores. Eightcap presents a well-regarded option with more Tier-1 licenses and a higher trust rating, suggesting a stronger position in the market. On the other hand, Octa has fewer high-level licenses and a lower trust rating, which might appeal to those who are exploring brokers with a moderate risk profile. Both brokers share the feature of being independent entities not associated with banks, inviting potential clients to weigh their options based on licenses and trust scores.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Year Founded | 2009 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of Eightcap and Octa, both brokers offer distinct pricing structures that cater to varying trading needs. Eightcap provides two account types: the commission-based Raw account and the spread-only Standard account. The Raw account features an average spread of 0.06 pips, but when you add a $3.50 per-side commission, the all-in trading cost rises to about 0.76 pips, slightly lower than the industry average of 0.8 pips. Despite being competitive, Eightcap is not the cheapest option on the market. It receives a 4-star rating for commissions and fees and ranks 26th out of 63 brokers by ForexBrokers.com.
On the other hand, Octa has made significant strides in its pricing model to become more competitive among MetaTrader brokers. It eliminates slippage on 97.5% of orders and has no overnight carry costs. However, certain restrictions may affect high-frequency traders. Octa's pricing varies depending on the regulatory entity and the trading platform in use. For instance, the average spread for the EUR/USD pair in its EU entity is 0.5 pips compared to 0.9 pips in its offshore entities. Despite these improvements, the absence of a date range for typical spread data on Octa's website limits accuracy. Octa, also rated 4 stars for commissions and fees, is ranked 29th out of 63 brokers in the same category.
In summary, both Eightcap and Octa offer competitive, though not industry-leading, commission and fee structures that appeal to different trading preferences. Eightcap may suit those who prefer a slightly higher cost for a spread-based approach, while Octa could be more appealing for those trading with a focus on no slippage and no overnight fees. Each holds a 4-star rating in this category, showcasing their respectable place in the forex trading community.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Minimum Deposit | $100 | $25 |
| Average Spread EUR/USD - Standard | 1.0 | 0.9 |
| All-in Cost EUR/USD - Active | 0.76 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | 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 it comes to online trading, both Eightcap and Octa provide opportunities for forex trading through CFDs or spot contracts. While Eightcap boasts 800 tradeable symbols, Octa offers a selection of 300. If you are a forex enthusiast, Eightcap may catch your interest with its 56 tradeable forex pairs compared to Octa's 35 pairs. However, if your interest lies in international exchange-traded securities, Octa has an edge by allowing investment in such markets, a service not available with Eightcap. Additionally, both platforms support copy trading, allowing traders to follow and replicate others' strategies.
Neither Eightcap nor Octa allows the purchase of actual cryptocurrencies, but they do provide options for trading cryptocurrency derivatives. While both brokers are rated 3.5 stars out of five for the range of investments, Eightcap ranks higher at #40, while Octa stands at #52 according to ForexBrokers.com. Overall, the choice between Eightcap and Octa may depend on your specific trading needs, such as the range of symbols and forex pairs or access to international markets.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 800 | 300 |
| Forex Pairs (Total) | 56 | 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.
Eightcap and Octa both provide impressive trading platforms and tools that appeal to traders looking for flexibility and comprehensive features. Both brokers offer simulated trading with free virtual demo accounts, which is a great way for beginners to familiarize themselves with the platforms. They both support widely-used platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and offer Windows-based desktop as well as web-based trading options. In terms of unique offerings, Octa stands out with its proprietary platform, developed in-house. However, despite these variations, Eightcap and Octa both cater to traders who prefer extensive tools, including 15 drawing tools for charting and the ability to trade directly from stock charts.
For those interested in copy trading, both Eightcap and Octa offer this feature, though neither supports DupliTrade or ZuluTrade. Both platforms allow for detailed market analysis with seven columns for watch lists. Their offerings in terms of technical indicators remain unspecified here, but their overall capability is rated four out of five stars by traders. Eightcap is ranked 38th while Octa is slightly ahead at 37th out of 63 brokers in the Trading Platforms and Tools category by ForexBrokers.com. This ranking reflects their competitiveness in providing reliable and adaptable trading environments for users.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When weighing Eightcap against Octa for mobile trading apps, both platforms cater to iPhone and Android users and provide an array of essential features for traders. These include the availability of stock and forex price alerts, multiple technical studies for charting, the ability to draw trendlines, and various time frames on charts. Furthermore, both apps auto-save chart drawings and allow users to create watchlists with real-time quotes, ensuring comprehensive engagement with the market from your mobile device.
A significant difference between the two brokers is the syncing capability of watchlists. Eightcap allows watchlist symbol syncing, meaning any changes made on the mobile app will sync with the user's online account, providing seamless integration. Unfortunately, this feature is absent from Octa's app. In terms of ratings, aside from offering similar functionalities and earning a four-star rating each, both brokers are close in ranking, with Octa placing 36th and Eightcap 38th among 63 brokers evaluated by ForexBrokers.com in the Mobile Trading Apps category.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Eightcap and Octa on market research offerings, both brokers provide daily market commentary and economic calendars to help traders stay informed. However, Octa stands out by offering forex news from top-tier sources like Bloomberg and Reuters, while Eightcap does not. Both brokers lack market research from TipRanks and tools from Acuity Trading, but Octa has the advantage of providing technical analysis tools from Autochartist, which Eightcap does not offer. In contrast, Eightcap has a sentiment-based trading tool for evaluating market trends through the ratio of long and short positions, an option that Octa does not provide.
In terms of overall research ratings, Octa scores slightly higher with 4 stars compared to Eightcap's 3.5 stars. This ranking also reflects in their standings as assessed by ForexBrokers.com, where Octa is ranked #27 out of 63 brokers, showcasing stronger research capabilities, while Eightcap is positioned at #39. Although both brokers offer essential tools for traders, Octa's inclusion of premium news sources and advanced analysis tools gives it an edge in providing comprehensive market research.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both Eightcap and Octa provide a solid foundation with a variety of tools to help newcomers understand forex and CFD trading. Both online brokers offer more than 10 educational pieces, such as articles and videos, focused on forex and CFDs. They also have a searchable archive of previously recorded webinars and provide investor dictionaries containing over 50 investing terms. Both platforms cater to beginners with at least 10 educational videos designed specifically to ease new traders into the basics of trading.
However, there are some differences in their offerings. Eightcap does not provide monthly online educational webinars, whereas Octa not only offers these webinars but also features more advanced content with at least 10 videos dedicated to experienced traders. Octa takes the edge in the ratings as well, earning 4 out of 5 stars for their overall educational efforts compared to Eightcap's 3.5 stars. Interestingly, despite Octa's higher rating, Eightcap is ranked higher at #40 compared to Octa's #42 out of 63 brokers by ForexBrokers.com. This could suggest that while Octa may have a richer educational experience, Eightcap is positioned slightly better in the broader education category.
| Feature |
Eightcap
|
Octa
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Eightcap is better than Octa. Eightcap finished with an overall rank of #38, while Octa finished with an overall rank of #47.
Eightcap enhances its status as a MetaTrader-only broker with support for a suite of third-party plug-ins, including TradingView.
| Feature |
Eightcap
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 85 | 72 |
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Both Eightcap and Octa provide options to trade cryptocurrency derivatives, but neither broker offers the ability to purchase actual, delivered cryptocurrency.
When comparing online brokers Eightcap and Octa regarding payment options for deposit and withdrawal, neither supports ACH or SEPA transfers, but Eightcap has the advantage of offering PayPal alongside Skrill, Visa, Mastercard, and bank wire options, while Octa provides Skrill, Visa, Mastercard, and bank wire services but does not support PayPal.
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 | Eightcap | Octa | |
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| Trust Score | 85 | 72 | |
| Winner | check_circle | ||
| Review | Eightcap Review | Octa Review |
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| Regulation | Eightcap | Octa | |
|---|---|---|---|
| Trust Score | 85 | 72 | |
| Year Founded | 2009 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Eightcap | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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) | 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) | Eightcap | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Eightcap | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 800 | 300 | |
| Forex Pairs (Total) | 56 | 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 | Eightcap | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.0 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.76 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Eightcap | Octa | |
|---|---|---|---|
| Minimum Deposit | $100 | $25 | |
| PayPal (Deposit/Withdraw) | Yes | 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 | Eightcap | Octa | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Eightcap | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Eightcap | Octa | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Eightcap | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Eightcap | Octa | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Eightcap | 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 | Eightcap Review | Octa Review |
| Overall | Eightcap | Octa | |
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| Trust Score | 85 | 72 | |
| Winner | check_circle | ||
| Review | Eightcap Review | Octa Review |
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