Written by ForexBrokers.com
In this head to head comparison of Fineco 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.
Fineco and Octa are online brokers that differ significantly in terms of establishment, trust, and regulation. Founded in 1999, Fineco enjoys a higher trust level in the financial community, being publicly traded and operating as a bank. It holds two Tier-1 licenses, which mark the pinnacle of regulatory trustworthiness, and boasts a Trust Score of 94 out of 99, reflecting its high standing. In contrast, Octa, established in 2011, is not publicly traded and does not function as a bank. Despite holding one Tier-1 license and a Tier-2 license, its Trust Score is 72, placing it with an average risk assessment.
| Feature |
Fineco
|
Octa
|
|---|---|---|
| Year Founded | 1999 | 2011 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Fineco Bank offers commission and fee structures that can be a bit challenging to decipher due to its lack of transparency in publishing average spread data for forex and CFD trading. It lists a spread of 1 pip for the EUR/USD pair, which tends to be higher than the norm provided by most forex brokers, alongside a spread of 0.8 pips. However, these spreads are not specified as average figures, nor do they come with a date range, making it difficult for traders to gauge exact costs. Fineco does seem to provide more attractive spreads on its index CFDs, yet overall, the lack of clarity affects its appeal. Evaluated by ForexBrokers.com, Fineco ranks #51 out of 63 brokers in the Commissions and Fees category, earning a rating of 3.5 stars.
Octa, on the other hand, has made significant strides in its pricing strategies, drawing closer to becoming one of the more cost-effective MetaTrader brokers. While commissions and fees depend on your account type and regulatory entity, Octa has made notable improvements. In the European market, it offers a competitive average spread of 0.5 pips for the EUR/USD pair, though this varies for international clients, who see a spread of 0.9 pips. While Octa doesn't provide specific date ranges for its spread data, 97.5% of its orders are executed without slippage, and it offers no overnight carry costs, all of which enhance its appeal. Octa is ranked #29 by ForexBrokers.com, with a commendable rating of 4 stars for its commissions and fees.
| Feature |
Fineco
|
Octa
|
|---|---|---|
| Minimum Deposit | $0 | $25 |
| Average Spread EUR/USD - Standard | N/A | 0.9 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the variety of investments available, Fineco and Octa offer distinct options tailored to different needs. Fineco features an impressive selection with 9,770 tradeable symbols, including 54 forex pairs and exchange-traded securities on both U.S. and international markets. This allows investors to diversify their portfolios with a wide array of assets, from popular stocks like Apple to global securities such as Vodafone. Octa, on the other hand, provides access to 300 tradeable symbols and 35 forex pairs, focusing primarily on forex trading. Although Octa lacks U.S. exchange-traded securities, it does support international securities, catering to those interested in global investments.
For forex trading enthusiasts, both Fineco and Octa offer trading in forex as a CFD or spot contract. However, Octa differentiates itself by offering copy trading and the option to invest in cryptocurrency derivatives, though it doesn't allow buying the actual cryptocurrency. In terms of investment range ratings, Fineco shines with 4.5 stars and ranks #16 among 63 brokers, thanks to its extensive offerings and accessible market options. Meanwhile, Octa earns a solid 3.5 stars and holds the #52 spot in the same category, favored by investors who value forex trading and derivative products.
| Feature |
Fineco
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 300 |
| Forex Pairs (Total) | 54 | 35 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | No | 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, Fineco and Octa present distinct offerings that cater to different trader preferences. Fineco delivers a proprietary platform that users can access via Windows desktop download and web-based browsers, but it lacks a virtual demo account and copy trading capabilities. Fineco does not support popular platforms like MetaTrader 4 or 5, yet it provides seven drawing tools for charting. Although Fineco's features have earned it a four-star rating and a #18 rank out of 63 brokers for trading platforms and tools, it doesn't allow trading directly from stock charts.
Conversely, Octa appeals to traders with its support for proprietary and MetaTrader platforms, including MT4 and MT5, and it has a slight edge with its paper trading option for users who want to practice without financial risks. Octa also supports copy trading and offers enhanced charting options with 15 drawing tools and the ability to trade directly from stock charts. Octa maintains a commendable four-star rating, despite being ranked #37 among 63 brokers in the trading platforms and tools category. Both platforms offer a Windows desktop download and web-based access, ensuring user-friendly solutions for diverse trading needs.
| Feature |
Fineco
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 37 | 30 |
| Charting - Drawing Tools (Total) | 7 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | N/A | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Fineco and Octa provide mobile trading apps for iPhone and Android users, ensuring you can trade on the go regardless of your device. Both apps send alerts for stock and forex prices, helping you stay on top of market movements. However, neither Fineco nor Octa offers syncing for watchlist symbols across their platforms, so changes made on one device won't automatically reflect on another. When it comes to charting, Fineco offers 6 technical studies, while Octa steps up its game with a more extensive selection of 30 studies. Additionally, Octa allows you to draw and auto-save trendlines on charts, something Fineco's app does not support. Both apps enable users to view charts across various time frames like daily, weekly, and intraday.
Creating watchlists with real-time quotes is possible with Octa's mobile app but not with Fineco's app. Despite the differences in features, both apps share a rating of 4 out of 5 stars for their overall performance in mobile trading. According to ForexBrokers.com, Octa has a slightly better ranking, coming in at #36 out of 63 brokers, compared to Fineco's #42 position. These rankings and features make Octa's app a more comprehensive choice for traders who rely on detailed technical analysis and customization, while Fineco offers a more straightforward, albeit less feature-rich, mobile trading experience.
| Feature |
Fineco
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 6 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Fineco and Octa for market research offerings, each platform has unique strengths. Octa stands out by providing daily market commentary, which Fineco does not offer. Both brokers provide forex news from leading sources like Bloomberg and Reuters. Fineco, however, lacks technical analysis tools from Autochartist, which are available through Octa. Neither broker offers tools from Trading Central, sentiment-based trading tools, or research tools from Acuity Trading and TipRanks. Both platforms do provide an economic calendar to keep traders updated on global economic news.
In terms of research ratings, Fineco and Octa both receive a commendable 4.0-star rating out of five for their research offerings, indicating high satisfaction among users. According to ForexBrokers.com, Fineco is ranked 33rd amongst 63 brokers in the Research category, while Octa is ranked 27th, suggesting a slight edge for Octa in terms of overall research tool offerings and quality. Each broker has its own set of strengths that cater to different trading needs, making them worthy options depending on an individual’s specific research requirements.
| Feature |
Fineco
|
Octa
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources offered by the online brokers Fineco and Octa for beginners, it's clear each has its strengths. Fineco provides an array of beginner-specific videos to help new traders, alongside monthly webinars to aid learning. Additionally, Fineco offers an investor dictionary containing over 50 trading terms, which can be a great asset for those starting out. However, Fineco falls short on forex and CFDs education, as well as failing to offer advanced educational videos, leaving experienced traders with fewer options to expand their expertise. Fineco does not provide a searchable archive of past webinars, which might limit access to previously covered topics. Despite these limitations, Fineco achieves a commendable 4-star rating for its educational offerings, though it holds the 49th position out of 63 brokers in the education rankings.
Octa, on the other hand, enriches the learning experience for beginners by providing a comprehensive selection of educational materials centered on forex and CFDs, exceeding the minimum of 10 resources. Like Fineco, Octa hosts monthly webinars and offers an impressive selection of beginner-level trading videos. For traders seeking advanced knowledge, Octa provides a suite of in-depth videos tailored for experienced individuals. Additionally, Octa's searchable archive of recorded webinars enables easy access to past content, enhancing continuous learning. Their extensive investor dictionary is another tool at a beginner's disposal. Despite its similar 4-star rating for education, Octa is ranked notably higher at 42nd place among the 63 brokers surveyed, making it an appealing choice for those seeking a more comprehensive educational toolkit.
| Feature |
Fineco
|
Octa
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | No | 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 Fineco is better than Octa. Fineco finished with an overall rank of #25, while Octa finished with an overall rank of #47.
FinecoBank is a trusted multi-asset broker offering forex and CFDs across its brands regulated in the U.K. and Italy. However, unless you visit a physical branch as a citizen of the EU – or you are a resident of Italy or the U.K. – you will not be permitted to open an online account with FinecoBank.
| Feature |
Fineco
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Octa
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|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 72 |
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While Fineco does not provide options for purchasing actual or derivative cryptocurrencies, Octa offers the ability to buy cryptocurrency derivatives, allowing traders to engage with cryptocurrency market movements without owning the underlying asset.
Fineco supports ACH and SEPA transfers and bank wires for depositing or withdrawing funds, while Octa offers Visa or Mastercard, Skrill, and bank wires, but not ACH or SEPA transfers or PayPal, giving users different options for fund management based on their preferences.
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 | Fineco | Octa | |
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| Trust Score | 94 | 72 | |
| Winner | check_circle | ||
| Review | Fineco Review | Octa Review |
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| Regulation | Fineco | Octa | |
|---|---|---|---|
| Trust Score | 94 | 72 | |
| Year Founded | 1999 | 2011 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Fineco | 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) | Fineco | 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 | Fineco | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 300 | |
| Forex Pairs (Total) | 54 | 35 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | No | 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 | Fineco | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 0.9 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Fineco | Octa | |
|---|---|---|---|
| Minimum Deposit | $0 | $25 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Fineco | Octa | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Fineco | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | N/A | 7 | |
| Charting - Indicators / Studies (Total) | 37 | 30 | |
| Charting - Drawing Tools (Total) | 7 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Fineco | Octa | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 6 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Fineco | Octa | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Fineco | Octa | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Fineco | 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 | Fineco Review | Octa Review |
| Overall | Fineco | Octa | |
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| Trust Score | 94 | 72 | |
| Winner | check_circle | ||
| Review | Fineco Review | Octa Review |
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