Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
FXCM, founded in 1999, is a long-established online broker that enjoys a high Trust Score of 95 according to ForexBrokers.com, indicating a high level of trustworthiness. FXCM is publicly traded, which can offer added transparency for investors, and holds an impressive four Tier-1 licenses, highlighting its strong regulatory compliance. Additionally, it has two Tier-2 licenses, further bolstering its trusted status in the industry.
In contrast, Octa, established in 2011, presents a Trust Score of 72, categorizing it as an average-risk broker. Unlike FXCM, Octa is not publicly traded, which might limit some investor insight. When it comes to regulatory standing, Octa holds one Tier-1 license and one Tier-2 license, signifying a moderate level of regulatory trust. While both brokers are not banks, the regulatory setup suggests FXCM provides a more reassuring safety net for traders through its multiple high-trust licenses and transparency.
| Feature |
FXCM
|
Octa
|
|---|---|---|
| Year Founded | 1999 | 2011 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
FXCM and Octa are both respected online brokers, but they differ in their commissions and fees structures. FXCM's pricing for forex trading is generally slightly higher than the industry average. For their standard account, spreads on the EUR/USD averaged 0.78 in their EU, U.K., and Australia offerings in May 2024, while for their entity in St. Vincent and the Grenadines, the average spreads were higher at 1.38. Their commission-based accounts offer an average spread of 0.28 pips, excluding commissions. FXCM's Active Trader Rebate Program, not available in the U.K. or EU, provides rebates on a tier system, yet still lags behind the competitive pricing offered by rivals like Tickmill. FXCM's commission-based pricing has an underlying spread of 0.28 pips, but the effective spread ends up being around 0.74 pips after accounting for commission equivalences. FXCM is rated 4 stars for commissions and fees and ranks 24th out of 63 brokers.
In contrast, Octa has made significant strides in its pricing, becoming more competitive and challenging other low-cost MetaTrader brokers. Their spreads vary by account type and regulatory entity, with their EU entity offering a better average spread of 0.5 pips for the EUR/USD pair, compared to 0.9 pips for their foreign entities. Octa claims no slippage on 97.5% of orders and no overnight carry costs, although it enforces certain restrictions that may affect high-frequency traders. The lack of a specific date range for their average spread data could make direct comparisons less reliable, but overall, Octa has improved its offering. Like FXCM, Octa is also rated 4 stars for commissions and fees, but it ranks slightly lower at 29th out of 63 brokers.
Both FXCM and Octa have their distinctive benefits and consider different factors to accommodate traders' needs. FXCM provides active trader rebates that depend on trade volumes, while Octa emphasizes no slippage and the absence of overnight costs. Both brokers achieve a 4-star rating in the commissions and fees category, though FXCM claims a higher rank in industry standings. Traders looking to choose between the two should consider the specific features and benefits that align with their trading strategies and account management preferences.
| Feature |
FXCM
|
Octa
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $25 |
| Average Spread EUR/USD - Standard | 0.78 | 0.9 |
| All-in Cost EUR/USD - Active | 0.78 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | 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 comparing FXCM and Octa for their investment offerings, both platforms provide access to forex trading via CFDs or spot contracts. FXCM boasts a slightly larger array of tradeable symbols, totaling 440, compared to Octa's 300. FXCM also offers a wider selection of forex pairs, with 43 available compared to Octa's 35. However, when it comes to exchange-traded securities on both U.S. and international exchanges, Octa takes the lead, offering securities on international exchanges—unlike FXCM, which doesn't offer such services at all.
Both FXCM and Octa support copy trading and offer cryptocurrency derivatives, though neither allows the purchase of actual cryptocurrencies. Despite these offerings, both brokers are rated 3.5 stars for their range of investments, with FXCM ranked #47 and Octa ranked #52 out of 63 brokers by ForexBrokers.com. This suggests that while they have similar strengths, FXCM's larger variety of tradeable symbols and forex pairs gives it a slight edge over Octa in this category.
| Feature |
FXCM
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 300 |
| Forex Pairs (Total) | 43 | 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.
FXCM and Octa both offer comprehensive trading experiences with strong platforms and tools. Both brokers provide simulated trading through free virtual demo accounts, allowing users to practice and refine their strategies without financial risk. Each offers proprietary platforms developed in-house, along with widely-used options like MetaTrader 4 (MT4). While FXCM lacks support for MetaTrader 5 (MT5), Octa does offer this advanced platform. Both brokers deliver Windows-based desktop platforms, web-based platforms, and support copy trading, although FXCM also provides ZuluTrade, which is not available through Octa.
When it comes to charting tools, Octa provides a slight edge with 15 drawing tools compared to FXCM’s 10, but FXCM excels in offering a more detailed watch list feature with 13 columns compared to Octa's 7. Both enable direct trading from stock charts. These differences contribute to FXCM’s superior rating for Trading Platforms and Tools, earning 5 stars and ranking 6th out of 63 brokers according to ForexBrokers.com, while Octa is rated 4 stars and ranked 37th in the same category.
| Feature |
FXCM
|
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) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FXCM and Octa offer highly rated mobile trading apps for both iPhone and Android users, allowing traders to stay on top of the market wherever they go. Each app provides stock and forex price alerts and supports the ability to create personalized watchlists with real-time quotes. However, there are notable differences in the user experience. FXCM excels in its offering of 59 technical studies for charting, compared to Octa’s 30. Additionally, FXCM synchronizes watchlist symbols with the user's online account for seamless tracking, an advantage not available with Octa.
When it comes to charting features, both apps allow users to draw trendlines and view multiple different time frames. They also ensure that any drawings made are auto-saved on the charts. In terms of overall user satisfaction, FXCM outshines with a rating of 4.5 out of 5 stars, ranking 16th among 63 brokers for mobile trading apps. Conversely, Octa, while still performing well, is rated 4 stars and ranks 36th. These ratings reflect FXCM’s advanced features and seamless integration, making it a preferred choice for traders seeking comprehensive analytics on the go.
| Feature |
FXCM
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 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.
When comparing the market research services offered by FXCM and Octa, both platforms provide users with daily market commentary and high-quality forex news from leading sources like Bloomberg and Reuters, ensuring traders stay informed with the latest updates. However, they differ significantly in the research tools available. FXCM excels by offering tools from Trading Central, providing Technical Analytics and sentiment-based trading tools that display long or short positions ratios across currency pairs. Additionally, FXCM enhances its research offerings with insights from TipRanks. In contrast, while Octa does include tools from Autochartist to assist with technical analysis, it doesn't provide equivalent resources from Trading Central or TipRanks.
Both FXCM and Octa include an economic calendar to keep users updated on global news events. Despite these shared features, FXCM stands out with a research rating of 4.5 stars compared to Octa’s 4 stars. Furthermore, according to ForexBrokers.com, FXCM is ranked #11 out of 63 brokers for research, while Octa is placed at #27. This ranking indicates FXCM's broader and more diverse research tool offerings, making it a preferable choice for those looking to leverage comprehensive market insights in their trading strategies.
| Feature |
FXCM
|
Octa
|
|---|---|---|
| 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 |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners in forex and CFDs trading, both FXCM and Octa deliver substantial offerings tailored to help new traders. FXCM shines with a comprehensive suite of educational materials, providing a range of articles, videos, and webinars that cover both foundational and advanced trading topics. Accessible online webinars are conducted regularly, enriching the learning experience. Furthermore, FXCM impresses with a comprehensive and searchable archive of past webinars as well as a detailed investor dictionary, offering a resourceful compendium of over 50 investing terms. This thorough approach is reflected in FXCM’s commendable 4.5-star rating for Education and its notable #14 ranking among 63 brokers as per ForexBrokers.com.
Similarly, Octa provides a solid educational platform aimed at beginner traders. It includes a variety of educational pieces that explore the intricacies of forex and CFDs trading. Just like FXCM, Octa also offers online webinars monthly and a searchable archive of these sessions for continued learning. Their inventory of beginner-focused and advanced videos serves as a versatile tool for traders of all levels. An investor dictionary is available to help new traders familiarize themselves with important trading terms. With a 4-star rating for Education, Octa ranks #42 out of 63 brokers according to ForexBrokers.com. Both platforms provide valuable educational content, yet FXCM slightly edges out Octa with a higher rating and rank in this important category.
| Feature |
FXCM
|
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 63 of the best forex brokers, our research and account testing finds that FXCM is better than Octa. FXCM finished with an overall rank of #15, while Octa finished with an overall rank of #47.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 72 |
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Both FXCM and Octa do not provide the option to purchase actual delivered cryptocurrency, but they do offer the ability to buy cryptocurrency derivatives.
FXCM provides a wider range of deposit and withdrawal options, including ACH/SEPA transfers and PayPal, which are not available with Octa, though both brokers support Skrill, Visa/Mastercard, and bank wire transactions.
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 | FXCM | Octa | |
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| Trust Score | 95 | 72 | |
| Winner | check_circle | ||
| Review | FXCM Review | Octa Review |
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| Regulation | FXCM | Octa | |
|---|---|---|---|
| Trust Score | 95 | 72 | |
| Year Founded | 1999 | 2011 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | 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) | Yes | 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) | FXCM | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | 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 | FXCM | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 300 | |
| Forex Pairs (Total) | 43 | 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 | FXCM | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | Octa | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $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 | Yes | No |
| Trading Platforms | FXCM | 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) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | Octa | |
|---|---|---|---|
| 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 | 59 | 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 | FXCM | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | 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 | FXCM | 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 | FXCM Review | Octa Review |
| Overall | FXCM | Octa | |
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| Trust Score | 95 | 72 | |
| Winner | check_circle | ||
| Review | FXCM Review | Octa Review |
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