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FXCM vs OctaFX 2020

Is FXCM better than OctaFX? After testing 30 of the best forex brokers over five months, FXCM is better than OctaFX. While the range of tradeable markets is narrow and pricing is just average, traders that appreciate robust trading tools alongside quality market research will find FXCM to be a winner.



CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature FXCM OctaFX
Overall 4.5 3
Commissions & Fees 4 3.5
Offering of Investments 3.5 2.5
Platforms & Tools 4.5 3.5
Mobile Trading 4 3.5
Research 4.5 3
Education 4 3
Trust Score 92 63
74.74% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money
FXCM Review OctaFX Review
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Regulation

Feature FXCM OctaFX
Trust Score 92 63
Year Founded
1999 2011
Publicly Traded (Listed)
Yes No
Bank
No No
Tier-1 Licenses
3 0
Tier-2 Licenses
2 1
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature FXCM OctaFX
ASIC Authorised (Australia)
Yes No
IIROC Authorised (Canada)
Yes No
SFC Authorised (Hong Kong)
No No
FSA Authorised (Japan)
No No
MAS Authorised (Singapore)
No No
FINMA Authorised (Switzerland)
No No
FCA Authorised (UK)
Yes No
CFTC Registered (USA)
No No

Investments

Feature FXCM OctaFX
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
39 28
CFDs - Total Offered
82 17
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes Yes

Cost

Feature FXCM OctaFX
Average Spread EUR/USD - Standard
1.4 (Q2 2020) 1.1 (July 2020)
All-in Cost EUR/USD - Active
1.1 (Q2 2020) 1.0 (July 2020)
Active Trader or VIP Discounts
Yes No

Funding

Feature FXCM OctaFX
Minimum Initial Deposit
£300 $5
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
No No
Skrill (Deposit/Withdraw)
Yes Yes

Trading Platforms

Feature FXCM OctaFX
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 Yes

Trading Tools

Feature FXCM OctaFX
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
12 (Default MetaTrader/cTrader)
Charting - Indicators / Studies (Total)
52 (Default MetaTrader/cTrader)
Charting - Drawing Tools (Total)
26 (Default MetaTrader/cTrader)
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes

Mobile Trading

Feature FXCM OctaFX
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
No No
Watch List
Yes No
Watch List Syncing
Yes No
Charting - Indicators / Studies
59 (Default MetaTrader/cTrader)
Charting - Draw Trendlines
Yes No
Charting - Trendlines Moveable
Yes No
Charting - Multiple Time Frames
Yes No
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes Yes

Research

Feature FXCM OctaFX
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes Yes
AutoChartist
Yes Yes
Trading Central (Recognia)
Yes No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes No
Economic Calendar
Yes Yes

Education

Feature FXCM OctaFX
Has Education - Forex
Yes Yes
Has Education - CFDs
No No
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes Yes
Videos - Beginner Trading Videos
Yes Yes
Videos - Advanced Trading Videos
Yes No
Investor Dictionary (Glossary)
Yes Yes

Major Forex Pairs

Feature FXCM OctaFX
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

Overall

Feature FXCM OctaFX
Overall 4.5 3
Commissions & Fees 4 3.5
Offering of Investments 3.5 2.5
Platforms & Tools 4.5 3.5
Mobile Trading 4 3.5
Research 4.5 3
Education 4 3
Trust Score 92 63
FXCM Review OctaFX Review
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Comparing forex brokers side by side is no easy task. For our 2020 annual forex broker review, we spent hundreds of hours assessing 30 forex and CFD brokerages to find the best forex broker. Let's compare FXCM vs OctaFX.

Does FXCM 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, FXCM offers better pricing overall for traders.

Is FXCM or OctaFX safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. FXCM holds 3 global Tier-1 licenses, while OctaFX holds 0. FXCM holds 2 global Tier-2 licenses, while OctaFX holds 1. All regulators considered, FXCM has a Trust Score of 92.00, while OctaFX's Trust Score is 63.00.

Which trading platform is better: FXCM or OctaFX?
To compare the trading platforms of both FXCM and OctaFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FXCM offers a better experience. With research, FXCM offers superior market research. Finally, we found FXCM 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. FXCM and OctaFX both offer copy trading. Both FXCM and OctaFX offer MetaTrader 4 (MT4).

How many forex pairs and CFDs are available to trade?
FXCM provides traders 39 currency pairs (e.g., EUR/USD) compared to OctaFX's 28 available pairs. Forex pairs aside, FXCM offers traders access to 82 CFDs while OctaFX has 17 available CFDs, a difference of 65.

Overall, between FXCM and OctaFX, FXCM is the better forex broker.

FXCM Review
OctaFX Review

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Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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