Written by ForexBrokers.com
In this head to head comparison of FP Markets 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.
FP Markets, founded in 2005, stands out with its solid reputation and trustworthiness in the online brokerage space. It holds two Tier-1 licenses and one Tier-2 license, which are significant indicators of reliability and safety for its clients. As per ForexBrokers.com, FP Markets boasts a Trust Score of 89, categorizing it as a trusted broker. It's important to note that FP Markets is not publicly traded and does not operate as a bank, but it has built a strong presence over the years, catering to the needs of traders globally.
Octa, which entered the market in 2011, is another player in the world of online brokerage. It carries one Tier-1 license and one Tier-2 license, reflecting its moderate standing in terms of regulatory trust. With a Trust Score of 72 according to ForexBrokers.com, Octa is seen as an average risk broker. Like FP Markets, Octa is neither publicly traded nor a bank, but it serves its clientele with a variety of trading options and services.
| Feature |
FP Markets
|
Octa
|
|---|---|---|
| Year Founded | 2005 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
FP Markets stands out as a highly cost-effective option for traders globally, especially with its commission-based ECN account. Recognized with a 5-star rating and ranked #6 for commissions and fees by ForexBrokers.com, FP Markets has earned the Best in Class award in the 2024 Annual Awards for this category. The broker’s Raw ECN account offers competitive spreads averaging 0.1 pips, though the Standard account's spread is higher at 1.1 pips as of October 2023. While its cTrader platform pairs with either a spread-only standard or commission-based account, traders can expect a flat $6 per round-turn standard lot for forex. Balancing affordability and high-quality trading options, FP Markets caters to both budget-conscious and active traders.
Conversely, Octa has shown considerable improvement in its pricing, marking a notable advance towards competing with low-cost MetaTrader brokers. Holding a 4-star rating and ranked #29 by ForexBrokers.com for commissions and fees, Octa distinguishes itself with no slippage on 97.5% of executed orders and no overnight carry costs, although restrictions can challenge high-frequency traders. Octa’s spread pricing shows variance depending on the regulatory entity, with its EU operation offering a slightly better average spread for the EUR/USD pair at 0.5 pips compared to 0.9 pips for other entities. Despite this progress, the lack of a date range on spread data limits definitive comparisons to its competitors.
In summary, while both FP Markets and Octa have their strengths, FP Markets excels with a broader competitive pricing structure that consistently delivers value, achieving a higher industry ranking and star rating. On the other hand, Octa's improvements portray a stepping stone towards becoming more competitive, though it still trails behind FP Markets in terms of both accolades and rank. Each broker offers unique benefits accommodating varied trader preferences, making it essential to evaluate their account specifics based on individual trading needs.
| Feature |
FP Markets
|
Octa
|
|---|---|---|
| Minimum Deposit | $100 AUD | $25 |
| Average Spread EUR/USD - Standard | 1.2 | 0.9 |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | 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 the variety of investment options, FP Markets offers a significantly wider array than Octa. FP Markets provides access to an impressive 10,000 tradeable symbols, including 71 forex pairs, allowing for greater diversity in trading choices. While both brokers support forex trading as contracts for difference (CFDs) or spot contracts and offer cryptocurrency derivatives, FP Markets stands out with a higher rating of 4.5 stars for its range of investments. Furthermore, FP Markets holds a notable ranking of 18th out of 62 brokers in the Range of Investments category by ForexBrokers.com, underscoring its strong position in the industry.
On the other hand, Octa offers a smaller selection with 300 tradeable symbols and 35 forex pairs. Although Octa also provides services such as copy trading and cryptocurrency derivatives, it lacks access to the same breadth of assets as FP Markets. However, Octa does offer the capability to trade exchange-traded securities on international exchanges, a feature not available with FP Markets. Despite these offerings, Octa's range of investments is rated at 3.5 stars and ranks 52nd out of 62 brokers in the same category, indicating a more limited selection compared to FP Markets.
| Feature |
FP Markets
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 300 |
| Forex Pairs (Total) | 71 | 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.
When comparing FP Markets and Octa on their trading platforms and tools, both brokers provide numerous features for traders looking to explore the markets efficiently. Both FP Markets and Octa offer virtual demo accounts and proprietary, web-based, and Windows-compatible desktop platforms, making it easy for traders to test strategies and trade both from desktop and online. Moreover, both platforms support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), popular choices for currency trading. They also offer features like copy trading, though neither supports DupliTrade or ZuluTrade. While FP Markets edges out slightly with 17 drawing tools for charting compared to Octa’s 15, both platforms allow users to trade directly from stock charts.
In terms of customization, FP Markets and Octa each offer 7 columns for watch lists, though neither broker has specified the number of technical indicators available for charting. Despite these similarities, a noteworthy distinction lies in their rankings by ForexBrokers.com for Trading Platforms and Tools, where FP Markets ranks 23rd and Octa ranks 37th among 62 brokers. Nonetheless, both share a commendable platform rating of 4 out of 5 stars, suggesting they offer comparable overall experiences for traders who prioritize varied and accessible trading tools.
| Feature |
FP Markets
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | 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) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FP Markets and Octa offer mobile trading apps for iPhone and Android devices, providing users with convenient access to forex trading on the go. Both apps include essential features like stock or forex price alerts and the ability to create watchlists with real-time quotes. However, neither platform offers watchlist symbol syncing, which means any changes made to watchlists on the mobile apps won't automatically reflect on the online accounts and vice versa.
FP Markets stands out slightly with its MetaTrader default charting features, allowing traders to draw trendlines and view multiple time frames, alongside automatic saving of chart drawings. Octa, on the other hand, offers 30 technical studies for its charting, matching FP Market's capability of trendline drawing and time frame variety. Both platforms receive a solid four-star rating for their mobile trading apps, but FP Markets holds a higher ranking at #18 compared to Octa's #35, according to ForexBrokers.com. This indicates a slight edge for FP Markets in the mobile app experience.
| Feature |
FP Markets
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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.
Both FP Markets and Octa offer a comprehensive market research experience, catering well to traders seeking valuable insights. Each broker provides daily market commentary and forex news from distinguished sources such as Bloomberg, Reuters, and Dow Jones. Traders at either broker can benefit from the powerful analysis tools offered by Autochartist. However, when it comes to the availability of tools from Trading Central, FP Markets holds an edge as Octa does not provide these additional resources.
For those interested in sentiment-based tools, FP Markets again stands out with a feature that displays the ratio of long and short positions across various instruments, a utility missing from Octa. Both brokers offer economic calendars to keep traders informed on the latest global events. According to ForexBrokers.com, FP Markets is ranked slightly higher for Research, securing the 25th spot out of 62 brokers with a four-star rating, whereas Octa takes the 27th position, also with four stars. This indicates both brokers are well-regarded for their research offerings.
| Feature |
FP Markets
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | 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.
Both FP Markets and Octa offer a wealth of educational resources tailored for beginners venturing into forex and CFD trading. Each provides over ten educational materials, such as articles, videos, and archived webinars, focusing on foundational trading concepts. Furthermore, both platforms conduct monthly online webinars and maintain a searchable archive of past sessions, offering continuous learning opportunities. For those at the starting point of their trading journey, each broker presents at least ten introductory videos to enhance understanding of the trading world.
In addition to resources aimed at novices, both FP Markets and Octa cater to more seasoned traders with over ten educational videos about advanced trading strategies. They also feature comprehensive investor dictionaries, with over 50 terms defined, which serve as handy references. Despite both brokers receiving a commendable four-star rating for education, FP Markets slightly edges out Octa with a higher ranking by ForexBrokers.com, placing 23rd compared to Octa’s 42nd position among 62 brokers. This suggests a slight preference towards FP Markets in this educational aspect, even though both brokers are strong contenders.
| Feature |
FP Markets
|
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 62 of the best forex brokers, our research and account testing finds that FP Markets is better than Octa. FP Markets finished with an overall rank of #19, while Octa finished with an overall rank of #47.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
|
Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 72 |
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Both FP Markets and Octa provide the option to trade cryptocurrency derivatives, but neither offers the ability to purchase actual, delivered cryptocurrency.
While both FP Markets and Octa offer Visa, Mastercard, Skrill, and bank wire transfer options for deposits and withdrawals, FP Markets distinguishes itself by also supporting PayPal, whereas neither broker supports ACH or SEPA transfers.
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 | FP Markets | Octa | |
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| Trust Score | 89 | 72 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Octa Review |
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| Regulation | FP Markets | Octa | |
|---|---|---|---|
| Trust Score | 89 | 72 | |
| Year Founded | 2005 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | 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) | No | 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) | FP Markets | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 300 | |
| Forex Pairs (Total) | 71 | 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 | FP Markets | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | Octa | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $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 | FP Markets | Octa | |
|---|---|---|---|
| Proprietary Platform | Yes | 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 | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | 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) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | Octa | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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 | FP Markets | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | 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 | FP Markets | 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 | FP Markets Review | Octa Review |
| Overall | FP Markets | Octa | |
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| Trust Score | 89 | 72 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Octa Review |
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