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FOREX.com vs OctaFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is FOREX.com better than OctaFX? In our analysis of 23 international regulators across 62 of the best forex brokers, FOREX.com is considered low-risk, with an overall Trust Score of 99 out of 99. OctaFX is considered high-risk, with an overall Trust Score of 67 out of 99. Learn more about Trust Score.

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Overall RatingFOREX.comOctaFX
Overall Rating 5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score 99 67
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Review FOREX.com Review OctaFX Review
RegulationFOREX.comOctaFX
Trust Score 99 67
Year Founded 1999 2011
Publicly Traded (Listed) Yes No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 4 0
Tier-2 Licenses 2 1
Tier-3 Licenses 1 0
Tier-1 Licenses (High Trust)FOREX.comOctaFX
ASIC Authorised (Australia) No No
IIROC Authorised (Canada) Yes No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) Yes No
CFTC Registered (USA) Yes No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)FOREX.comOctaFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) Yes Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes No
Tier-3 Licenses (Low Trust)FOREX.comOctaFX
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) Yes No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsFOREX.comOctaFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 5500 80
Forex Pairs (Total) 91 40
U.S. Stock Trading (Non CFD) No No
Int'l Stock Trading (Non CFD) No No
Social Trading / Copy Trading No Yes
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) 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).
CostFOREX.comOctaFX
Average Spread EUR/USD - Standard 1.0 (July 2022) 0.6 (August 2021)
All-in Cost EUR/USD - Active 1.0 (July 2022) N/A
Active Trader or VIP Discounts Yes No
Execution: Agency Broker No Yes
Execution: Market Maker Yes Yes
FundingFOREX.comOctaFX
Minimum Initial Deposit $100 $25
PayPal (Deposit/Withdraw) Yes No
Skrill (Deposit/Withdraw) No Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsFOREX.comOctaFX
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
Social Trading / Copy Trading No Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes Yes
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading ToolsFOREX.comOctaFX
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 20 7
Charting - Indicators / Studies (Total) 203 30
Charting - Drawing Tools (Total) 25 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingFOREX.comOctaFX
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 88 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes Yes
ResearchFOREX.comOctaFX
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist No Yes
Trading Central (Recognia) Yes No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationFOREX.comOctaFX
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) No Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos No No
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsFOREX.comOctaFX
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 FOREX.com Review OctaFX Review
OverallFOREX.comOctaFX
Overall Rating 5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score 99 67
Winner check_circle
Review FOREX.com Review OctaFX Review
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FOREX.com 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 FOREX.com vs OctaFX.

Does FOREX.com 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, FOREX.com offers better pricing overall for traders.

Is FOREX.com 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. FOREX.com holds 4 global Tier-1 licenses, while OctaFX holds 0. FOREX.com holds 2 global Tier-2 licenses, while OctaFX holds 1. In our analysis of 23 international regulators across 50 brokers, FOREX.com earned a higher Trust Score than OctaFX.

Which trading platform is better: FOREX.com or OctaFX?

To compare the trading platforms of both FOREX.com and OctaFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FOREX.com offers a better experience. With research, FOREX.com offers superior market research. Finally, we found FOREX.com 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 FOREX.com and OctaFX offer MetaTrader 4 (MT4).Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

FOREX.com provides traders 91 currency pairs (e.g., EUR/USD) compared to OctaFX's 40 available pairs. Forex pairs aside, FOREX.com offers traders access to 5500 CFDs while OctaFX has 80 available CFDs, a difference of 5420.

Can I trust FOREX.com?

FOREX.com is publicly traded, does not operate a bank, and is authorised by four tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust). City Index is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).

Can I trust OctaFX?

OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).

Is FOREX.com good?

FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms โ€“ alongside limited access to MetaTrader.

Is OctaFX good?

OctaFX offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.

Overall winner: FOREX.com

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