Written by ForexBrokers.com
In this head to head comparison of eToro 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 comparing eToro and Octa, it's clear that both platforms have established themselves in the online brokerage industry, but they vary significantly in terms of trustworthiness and regulatory oversight. eToro, founded in 2007 and publicly traded, holds three Tier-1 licenses, granting it a Trust Score of 96 out of 99 by ForexBrokers.com. This indicates a high level of reliability and compliance with top regulatory standards. Despite not being a bank, eToro's global presence and transparent operations are appealing features for traders seeking a trustworthy platform.
Octa, on the other hand, was established in 2011 and remains a privately held company with a differing regulatory framework. Holding only one Tier-1 license and a ForexBrokers.com Trust Score of 72, Octa is considered to have an average risk level. While they do maintain a Tier-2 license, their regulatory standing isn't as strong as eToro's. Both platforms offer unique features to users, but for those prioritizing regulatory assurance, eToro's higher Trust Score and listing on a stock exchange may offer additional confidence.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Year Founded | 2007 | 2011 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
eToro, a market-maker broker, primarily attracts retail traders due to its innovative social copy trading platform rather than competitive trading fees. It offers a typical variable spread of approximately 1 pip on the EUR/USD, slightly above the industry average. Enhancing trader experiences, eToro provides a VIP club known as eToro Club, featuring five membership tiers from Silver to Diamond. These tiers, for account balances between $5,000 and $250,000, offer an array of benefits such as access to Trading Central, reduced withdrawal and deposit fees, and a dedicated account manager. When evaluated by ForexBrokers.com for commissions and fees, eToro earns a commendable 4.5 stars and ranks 22nd out of 63 brokers.
Octa, on the other hand, has significantly improved its pricing structure, making it competitive among low-cost MetaTrader brokers. Notably, Octa offers no slippage on 97.5% of executed orders and eliminates overnight carry costs, though it enforces restrictions that might affect high-frequency traders. The commissions and fees depend on the chosen account type and the regulatory entity: the EU entity offers only MT5, while the offshore entities provide options for both MT4 and MT5, as well as the proprietary OctaTrader platform. Octa's average spread for the EUR/USD pair ranges from 0.5 pips under its EU entity to 0.9 pips elsewhere; however, the lack of a date range for this data limits its reliability for precise comparison. Octa, with its enhanced competitive pricing, is rated 4 stars and ranks 29th in the commissions and fees category according to ForexBrokers.com.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $25 |
| Average Spread EUR/USD - Standard | 1 | 0.9 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | 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 the range of investment options, eToro and Octa present distinct offerings for traders. eToro impresses with a staggering 5,461 tradeable symbols including 55 forex pairs, making it a suitable choice for those seeking diversity. It allows users to invest in exchange-traded securities on both U.S. and international exchanges, enabling traders to purchase shares of companies like Apple and Vodafone directly. Moreover, eToro supports the buying of actual cryptocurrencies as well as cryptocurrency derivatives, catering to a wide spectrum of investment preferences. The platform also features copy trading, adding an extra layer of engagement for users who prefer following successful trading strategies.
In contrast, Octa offers a more limited selection with 300 tradeable symbols, which includes 35 forex pairs. While it does provide access to international exchange-traded securities, it does not support buying securities on U.S. exchanges, limiting options for investors interested in American stocks. Furthermore, Octa focuses on cryptocurrency derivatives and does not facilitate the purchase of actual cryptocurrencies. Despite both platforms offering forex trading as CFDs and copy trading, eToro stands out with a 5-star rating for its range of investments, ranking 10th among 63 brokers on ForexBrokers.com, while Octa, with a 3.5-star rating, ranks 52nd. This highlights eToro’s broader appeal for those seeking comprehensive investment opportunities.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 300 |
| Forex Pairs (Total) | 55 | 35 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | 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.
When it comes to trading platforms and tools, both eToro and Octa offer proprietary platforms developed in-house, catering to traders who prefer a unique experience. eToro stands out with its web-based interface, which is accessible without the need for any desktop installations, although it does not support MetaTrader 4 or 5. On the other hand, Octa provides flexibility with both a web-based platform and a Windows-based desktop download option, and it also supports popular platforms like MetaTrader 4 and 5, which are highly regarded among forex traders. Both brokers offer features like copy trading and free virtual demo accounts for practicing trading skills.
Charting capabilities also differ between these platforms. eToro outshines Octa with an impressive 161 drawing tools, compared to Octa’s 15, enhancing the user's ability to analyze trends directly on the platform. However, Octa allows users to trade directly from its charts, an option not available with eToro. When it comes to customizing watchlists, eToro offers six fields for columns, while Octa provides seven. With these features in mind, eToro receives a higher rating of 4.5 stars for their trading platforms and tools, while Octa follows closely with a 4-star rating. Furthermore, eToro ranks at #8 among 63 brokers for its trading platforms and tools according to ForexBrokers.com, leading Octa which comes in at #37.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 104 | 30 |
| Charting - Drawing Tools (Total) | 161 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both eToro and Octa provide impressive mobile trading apps for iPhone and Android users, allowing seamless trading experiences across devices. Traders will find essential features like stock or forex price alerts and the ability to create watchlists with real-time quotes on both platforms. However, eToro stands out with its watchlist symbol syncing feature, ensuring that any changes are reflected across the user's mobile and online accounts, while Octa does not offer this function. Additionally, eToro delivers a more extensive set of technical studies for chart analysis, offering 104 compared to Octa's 30.
When it comes to charting tools, Octa allows users to draw trendlines and offers an auto-save feature for these drawings, which can be quite handy for technical analysis on the go. While both platforms enable viewing charts in various time frames, only Octa supports trendline drawing and auto-saving them. In terms of user reviews, eToro slightly edges out Octa, boasting a 4.5-star rating in the mobile trading apps category versus Octa’s 4-star rating. According to ForexBrokers.com, eToro is also better positioned, ranking 10th out of 63 brokers compared to Octa's rank of 36, making eToro a favored choice for mobile traders.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research capabilities of eToro and Octa, both platforms provide daily market commentary to keep traders informed. However, eToro stands out with a higher overall research ranking and rating, boasting 4.5 stars and a position of 13th out of 63 on ForexBrokers.com, while Octa is rated 4 stars and ranks 27th. A key feature of eToro is its sentiment-based trading tool that gives insights into long and short positions across various instruments, a service not available on Octa. Additionally, eToro partners with Trading Central for technical analysis offerings and provides market research from TipRanks, whereas Octa does not.
Octa has its own strengths, particularly with its provision of forex news sourced from top-tier providers like Bloomberg and Reuters, a service where eToro falls short. Moreover, Octa offers technical analysis tools from Autochartist, providing valuable insights for traders. Both brokers offer an economic calendar that presents global news events, an essential tool for staying updated on market-moving developments. While eToro and Octa both have commendable offerings, eToro seems to cater more comprehensively to research-focused traders, supported by its higher industry ranking and broader range of analytical tools.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | 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 those just starting in forex and CFD trading, eToro and Octa both stand out as strong choices. Both platforms provide a wide array of content, including over 10 informative articles, videos, and archived webinars focused on forex and CFDs. Beginners can benefit from at least 10 educational videos on trading topics available on both platforms. They each host monthly client webinars and offer searchable archives, ensuring you have access to a wealth of knowledge whenever you need it. Furthermore, each provides a comprehensive investor dictionary with over 50 defined investment terms, making complex information more approachable for new traders.
While both eToro and Octa offer a competitive range of educational materials, eToro takes a slight lead in user ratings and rankings. With a 4.5-star rating for Education and a #5 rank out of 63 brokers by ForexBrokers.com, eToro demonstrates a higher level of satisfaction among users compared to Octa, which holds a 4-star rating and ranks #42. This difference highlights eToro's slightly better reputation in providing educational content for traders aiming to enhance their skills and understanding of the market.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | 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 eToro is better than Octa. eToro finished with an overall rank of #9, while Octa finished with an overall rank of #47.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
|
Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 96 | 72 |
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eToro allows users to purchase both actual cryptocurrencies and derivatives, while Octa only offers the option to trade cryptocurrency derivatives.
eToro stands out by offering a diverse range of payment options, including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, whereas Octa provides limited options by excluding ACH, SEPA, and PayPal, though it supports Skrill, Visa, Mastercard, and bank wires.
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 | eToro | Octa | |
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| Trust Score | 96 | 72 | |
| Winner | check_circle | ||
| Review | eToro Review | Octa Review |
| Broker Screenshots | eToro | Octa | |
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| Regulation | eToro | Octa | |
|---|---|---|---|
| Trust Score | 96 | 72 | |
| Year Founded | 2007 | 2011 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | eToro | 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) | eToro | 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 | eToro | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 300 | |
| Forex Pairs (Total) | 55 | 35 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | eToro | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | 0.9 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | Octa | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $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 | Yes | No |
| Trading Platforms | eToro | Octa | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | eToro | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 104 | 30 | |
| Charting - Drawing Tools (Total) | 161 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | 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 | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | eToro | Octa | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | eToro | 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 | eToro Review | Octa Review |
| Overall | eToro | Octa | |
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| Trust Score | 96 | 72 | |
| Winner | check_circle | ||
| Review | eToro Review | Octa Review |
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