FP Markets 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 FP Markets vs OctaFX.
Does FP Markets 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, FP Markets offers better pricing overall for traders.
Is FP Markets 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. FP Markets holds 2 global Tier-1 licenses, while OctaFX holds 1. Both FP Markets and OctaFX hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, FP Markets (87) earned a higher Trust Score than OctaFX (70).
Which trading platform is better: FP Markets or OctaFX?
To compare the trading platforms of both FP Markets and OctaFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FP Markets offers a better experience. With research, FP Markets offers superior market research. Finally, we found FP Markets 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 FP Markets and OctaFX offer MetaTrader 4 (MT4).FP Markets and OctaFX both offer copy trading.
How many forex pairs and CFDs are available to trade?
FP Markets provides traders 71 currency pairs (e.g., EUR/USD) compared to OctaFX's 40 available pairs. Forex pairs aside, FP Markets offers traders access to 10000 CFDs while OctaFX has 229 available CFDs, a difference of 9771.
Can I trust FP Markets?
FP Markets is not publicly traded and does not operate a bank. FP Markets is authorised by two Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). FP Markets is authorised by the following Tier-1 regulators: Australian Securities & Exchange Commission (ASIC) and the European Union via MiFID.
Can I trust OctaFX?
OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by one Tier-1 regulator (high trust), one Tier-2 regulator (average trust), zero Tier-3 regulators (low trust), and zero Tier-4 regulators (High Risk). OctaFX is authorised by the following tier-1 regulators: European Union via MiFID.
Is FP Markets good?
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.
Is OctaFX good?
OctaFX offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
Overall winner: FP Markets
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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.