OctaFX vs FXOpen 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 OctaFX vs FXOpen.
Does OctaFX or FXOpen 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, OctaFX offers better pricing overall for traders.
Is OctaFX or FXOpen 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. FXOpen holds 3 global Tier-1 licenses, while OctaFX holds 1. OctaFX holds 1 global Tier-2 licenses, while FXOpen holds 0. In our analysis of 23 international regulators across 50 brokers, FXOpen (80) earned a higher Trust Score than OctaFX (70).
Which trading platform is better: OctaFX or FXOpen?
To compare the trading platforms of both OctaFX and FXOpen, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, OctaFX offers a better experience. With research, OctaFX offers superior market research. Finally, we found OctaFX 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 OctaFX and FXOpen offer MetaTrader 4 (MT4).OctaFX and FXOpen both offer copy trading.
How many forex pairs and CFDs are available to trade?
OctaFX provides traders 40 currency pairs (e.g., EUR/USD) compared to FXOpen's 25 available pairs. Forex pairs aside, OctaFX offers traders access to 229 CFDs while FXOpen has 87 available CFDs, a difference of 142.
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.
Can I trust FXOpen?
FXOpen is not a publicly traded company, does not operate a bank, and is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). FXOpen is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and the European Union via MiFID.
Is OctaFX good?
OctaFX offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
Is FXOpen good?
FXOpen is a long standing MetaTrader broker with a narrow offering and few benefits beyond a standard MetaTrader experience coupled with social-trading platforms ZuluTrade and Myfxbook.
Overall winner: OctaFX
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