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 |
When comparing online brokers FXCM and Octa based on their commissions and fees, both have unique pricing structures that cater to different trader preferences. FXCM's pricing for forex trading tends to be slightly above the industry average. For May 2024, the EUR/USD spreads for its EU, U.K., and Australian offerings averaged 0.78 pips. In contrast, its St. Vincent and the Grenadines entity had higher spreads at 1.38 pips, compared to the industry norm. However, with commission-based accounts, FXCM offers more competitive spreads averaging 0.28 pips, not including commissions. Its Active Trader Rebate Program provides potential discounts based on trading volume, though it may not match the more competitive pricing from brokers like Tickmill. FXCM receives a 4-star rating for commissions and fees and ranks #25 out of 63 brokers according to ForexBrokers.com.
Octa has made significant improvements in its pricing structure, and it now competes closely with the lowest-cost MetaTrader brokers. Spreads at Octa vary by account type and regulatory entity, with its EU entity offering a more favorable average spread of 0.5 pips on the EUR/USD pair compared to 0.9 pips from its offshore entities. Although Octa does not provide specific date ranges for its spread data, which could affect transparency, it has eliminated slippage on 97.5% of its orders and does not charge overnight carry costs. These features could appeal to many traders, although restrictions may limit high-frequency trading. Octa also boasts a 4-star rating for commissions and fees, though it ranks slightly lower at #29 out of 63 brokers in the ForexBrokers.com evaluation.
In conclusion, FXCM and Octa both offer competitive pricing structures with some distinct advantages. FXCM provides active traders opportunities for rebates, while Octa is closing the gap with its enhanced pricing and nearly slippage-free order execution. Despite the differences, their identical 4-star ratings indicate a balanced competition in their respective offerings, even as FXCM holds a slight edge in the overall rankings.
| 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.
FXCM and Octa both facilitate investors looking to trade forex through CFDs or spot contracts, providing flexible choices for currency trading enthusiasts. When comparing the number of tradeable symbols, FXCM holds a slight edge with 440 options, whereas Octa offers 300. In terms of forex pairs, FXCM provides access to 46 pairs, surpassing the 35 pairs available with Octa. While neither broker offers exchange-traded securities directly on U.S. exchanges, Octa allows clients to purchase international exchange-traded securities like Vodafone shares, a feature not available with FXCM.
Both platforms support copy trading and allow the purchase of cryptocurrency derivatives, broadening investment strategies for traders leveraging crypto markets. Despite these features, neither FXCM nor Octa supports the purchase of actual cryptocurrencies. In terms of investment range rating, both brokers are equally matched with a score of 3.5 stars out of five. However, FXCM ranks slightly higher at #47, compared to Octa's #52, according to ForexBrokers.com’s assessment of 63 brokers. This nuanced comparison highlights each broker's strengths, enabling investors to make informed choices based on their unique trading preferences and needs.
| Feature |
FXCM
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 300 |
| Forex Pairs (Total) | 46 | 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) | 46 | 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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