Written by ForexBrokers.com
In this head to head comparison of Octa vs FXOpen, 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 choosing an online broker, understanding their regulatory background can be important. Octa, founded in 2011, and FXOpen, established in 2003, each hold different positions in terms of trustworthiness and regulatory compliance. According to ForexBrokers.com, Octa has a Trust Score rating of 72, which places it in the average risk category. It holds one Tier-1 license and one Tier-2 license, allowing it a mix of high trust and trust ratings. While not publicly traded and not functioning as a bank, Octa still offers a solid foundation for traders looking for regulated options.
On the other hand, FXOpen has a slightly higher Trust Score rating of 76, also marking it as average risk. It surpasses Octa in regulatory licenses, holding two Tier-1 licenses, which are highly trusted. Like Octa, FXOpen is neither publicly traded nor a bank. These factors make FXOpen a slightly more secure choice for those prioritizing regulation in their trading activities. Ultimately, both brokers provide trusted environments for online trading, with FXOpen holding a slight edge in regulatory trust.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Year Founded | 2011 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When it comes to commissions and fees, Octa has made notable strides in offering competitive pricing, rapidly gaining ground among low-cost MetaTrader brokers. A significant advantage of Octa's platform is the absence of slippage on 97.5% of its executed orders, along with the elimination of overnight carry costs. However, high-frequency traders might face some limitations due to specific restrictions. Octa’s account types and the corresponding commissions or fees depend on whether you are under the European Union entity, South Africa, or its offshore setup in Mwali. This flexibility ensures that users in different regions have options tailored to their needs, though European clients are primarily limited to an MT5 account.
The spread pricing at Octa varies by entity, with the EU entity offering more competitive spreads for certain pairs like the EUR/USD at an average of 0.5 pips compared to 0.9 pips at foreign entities. Despite improvements, it's important to note that Octa does not provide a date range for its typical spread data, which can slightly hinder the reliability of this information. Nevertheless, with a 4-star rating for commissions and fees and being ranked #29 out of 63 brokers on ForexBrokers.com, Octa remains a strong contender in this aspect.
In comparison, FXOpen also offers a competitive fee structure, earning it a 4-star rating in the commissions and fees category. However, the lack of average spread data might pose a challenge for traders seeking transparency in pricing structure. FXOpen is ranked #44 among 63 brokers, indicating a slightly less favorable position in terms of commissions and fees compared to Octa.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $25 | $100 |
| Average Spread EUR/USD - Standard | 0.9 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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 investments, both Octa and FXOpen offer opportunities for trading in forex, available as either CFD or spot contracts. Octa impresses with a larger selection of 300 tradeable symbols, including 35 forex pairs, whereas FXOpen provides 87 tradeable symbols and 25 forex pairs. Neither platform allows direct purchase of exchange-traded securities on U.S. exchanges, but Octa stands out by offering access to international securities such as Vodafone shares, a feature not available with FXOpen. Both brokers provide the option of copy trading services, making it easier for newcomers to mirror successful investment strategies.
While neither Octa nor FXOpen allows for the purchase of actual cryptocurrencies, each does offer cryptocurrency derivatives for those interested in this asset class. Despite these similarities, Octa generally offers a broader range, earning a rating of 3.5 stars for range of investments compared to FXOpen's 3 stars. Ranking-wise, according to ForexBrokers.com, Octa holds the 52nd spot out of 63 brokers, while FXOpen is positioned at 62nd, reflecting the expanded array of options available to Octa's users.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 300 | 87 |
| Forex Pairs (Total) | 35 | 25 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing the online trading platforms and tools of Octa and FXOpen, both brokers offer a variety of features for traders at different levels. Both Octa and FXOpen provide free virtual demo accounts, allowing traders to hone their skills without financial risk. While Octa boasts a proprietary platform developed in-house, FXOpen does not have a proprietary offering; however, both brokers support MetaTrader 4 and MetaTrader 5 for a familiar trading experience. Each platform extends the convenience of both Windows-based desktop applications and web-based platforms, ensuring flexibility in trading. Additionally, both Octa and FXOpen accommodate traders interested in copy trading, but only FXOpen offers ZuluTrade for those seeking to diversify their social trading options.
In terms of charting, both brokers stand on even ground with 15 drawing tools available, alongside the functionality to trade directly from a stock chart, making technical analysis straightforward for traders. Their watch lists also feature seven columns each, providing comprehensive market information at a glance. When assessed by ForexBrokers.com, Octa secures a slightly higher spot, ranked at #37 compared to FXOpen's #53, reflecting subtle distinctions in user preference and platform satisfaction. Nonetheless, both are rated an identical four stars out of five for their trading platforms and tools, indicating a solid performance in this competitive field.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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 | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Octa and FXOpen have plenty to offer for traders on the go. Both brokers provide dedicated apps for iPhone and Android users, ensuring that traders can access their accounts from a range of devices. Each app includes essential features like stock and forex price alerts, the ability to draw trendlines, and the option to view various time frames on charts. With 30 technical studies available for charting, both Octa and FXOpen deliver comprehensive tools for technical analysis. However, Octa stands out slightly with its ability to auto-save drawings on charts, a feature not provided by FXOpen.
Both platforms allow users to create watchlists with real-time quotes, though neither offers the convenience of automatically syncing these watchlists with online accounts. Despite both apps earning a respectable 4-star rating, Octa edges out FXOpen in broader industry recognition, ranking #36 compared to FXOpen's #54 in the Mobile Trading Apps category by ForexBrokers.com. This slight edge may make Octa more appealing for traders seeking a slightly more advanced mobile trading experience.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both Octa and FXOpen provide daily market commentary to keep traders informed about the latest market trends. They also offer forex news from prestigious sources like Bloomberg and Reuters, ensuring that users receive timely and reliable information. However, when it comes to additional analytical tools, Octa takes a step ahead by offering technical and fundamental research tools from Autochartist, a feature that FXOpen does not provide. Neither broker offers tools from Trading Central or sentiment-based trading tools to analyze positioning across various instruments. Additionally, market research from TipRanks and Acuity Trading's tools are absent in both offerings.
Octa and FXOpen both include an economic calendar, helping traders stay updated on global news events that impact economies worldwide. However, when rated for research capabilities, Octa enjoys a higher rating of 4 stars compared to FXOpen's 3 stars. This difference is mirrored in their rankings on ForexBrokers.com, where Octa is placed at #27 out of 63 brokers, significantly higher than FXOpen’s position at #63. These rankings indicate that Octa provides a more comprehensive suite of research tools and services, making it a preferred choice for those seeking a broader set of market analysis resources.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| 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 it comes to educational resources designed for beginner traders, Octa clearly stands out compared to FXOpen. Octa provides a wide array of learning materials, including more than 10 educational pieces focused on forex and CFDs, ensuring that newcomers have ample content to start with. Additionally, Octa hosts online educational webinars every month, offering live interaction to enhance the learning experience. For those who prefer to learn at their own pace, Octa offers a searchable archive of previously recorded webinars, giving users access to a wealth of knowledge. In terms of video content, Octa meets the needs of both beginners and seasoned traders, with over 10 videos tailored to each group. While both Octa and FXOpen provide an investor dictionary with definitions of vital investing terms, Octa's comprehensive educational offerings earn it a higher education rating of 4 stars, compared to FXOpen’s 3 stars.
FXOpen, on the other hand, lacks some of the educational features that could put beginners on the fast track to trading success. While potential traders might appreciate FXOpen's investor dictionary, the absence of monthly webinars, archived content, and a variety of trading videos makes it a less interactive learning platform. Ranked at #58 in the education category by ForexBrokers.com, FXOpen falls short of the richness and variety that Octa offers, which holds the #42 spot. Both brokers cater to traders, but in the realm of education, Octa delivers a more comprehensive, engaging, and accessible experience.
| Feature |
Octa
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| 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 Octa is better than FXOpen. Octa finished with an overall rank of #47, while FXOpen finished with an overall rank of #54.
Octa offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
| Feature |
Octa
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FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 72 | 76 |
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Both Octa and FXOpen provide options for trading cryptocurrency derivatives, though neither allow for the purchase of actual, delivered cryptocurrencies.
Both Octa and FXOpen do not support ACH, SEPA, or PayPal for fund deposits or withdrawals, but they offer Skrill, Visa, Mastercard, and bank wires as available options.
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 | Octa | FXOpen | |
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| Trust Score | 72 | 76 | |
| Winner | check_circle | ||
| Review | Octa Review |
| Broker Screenshots | Octa | FXOpen | |
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| Regulation | Octa | FXOpen | |
|---|---|---|---|
| Trust Score | 72 | 76 | |
| Year Founded | 2011 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | Octa | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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 | Yes | |
| 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) | Octa | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Octa | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 300 | 87 | |
| Forex Pairs (Total) | 35 | 25 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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). |
| Cost | Octa | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.9 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Octa | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $25 | $100 | |
| PayPal (Deposit/Withdraw) | No | 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 | Octa | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Octa | FXOpen | |
|---|---|---|---|
| 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) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Octa | FXOpen | |
|---|---|---|---|
| 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 | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Octa | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Octa | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Octa | FXOpen | |
|---|---|---|---|
| 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 | Octa Review |
| Overall | Octa | FXOpen | |
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| Trust Score | 72 | 76 | |
| Winner | check_circle | ||
| Review | Octa Review |
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