Written by ForexBrokers.com
In this head to head comparison of HFM 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.
When it comes to choosing an online broker, HFM and Octa present themselves with different trust levels and regulatory standings. HFM, established in 2010, boasts a solid regulatory foundation with two Tier-1 licenses and three Tier-2 licenses. This contributes to its trust score of 86 out of 99, making it a trusted option among users. In contrast, Octa, which started in 2011, holds one Tier-1 and one Tier-2 license, earning a trust score of 72. While neither HFM nor Octa are publicly traded companies or banks, their regulatory credentials differ significantly, which could be a deciding factor for potential users.
While both brokers aim to provide a reliable trading environment, their trust scores reflect their commitment to upholding regulatory standards. HFM's higher trust score indicates a greater degree of reliability. However, Octa still maintains a decent level of trust, described as average risk, which might appeal to those less concerned with top-tier regulation. As you ponder your choices, consider how each broker’s regulatory framework fits with your personal trading needs.
| Feature |
HFM
|
Octa
|
|---|---|---|
| Year Founded | 2010 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 3 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing online brokers, HFM stands just above the industry average in terms of trading costs. The typical spread for standard trading accounts is about 1.2 pips. Though the Zero account offers a more attractive effective spread of 0.7 pips after commission, both figures lack a defined date range, making it difficult to accurately gauge the average spread. HFM has garnered a 4-star rating for commissions and fees and ranks 31st out of 63 brokers according to ForexBrokers.com.
In contrast, Octa has made significant strides in enhancing its pricing structure, keeping pace with some of the market's lowest-cost MetaTrader brokers. A standout feature is the absence of slippage on 97.5% of its executed orders and no overnight carry costs, although this comes with certain restrictions for high-frequency traders. Octa's commissions and fees are tied to the chosen account type and the entity under which the account falls, with European clients serviced by its EU entity and international clients by its South African or Mwali offshore operations. Octa enjoys a 4-star rating and ranks slightly higher than HFM, at 29th out of 63 brokers in the commissions and fees category.
Octa's spread pricing can differ based on the regulating entity, with its EU entity offering a more competitive average spread of 0.5 pips for the EUR/USD pair, compared to 0.9 pips with foreign entities. Like HFM, Octa does not offer a time frame for its typical spread data, making detailed comparisons challenging. Despite this limitation, Octa's pricing advancements place it closer to the ranks of the lowest-cost MetaTrader brokers, ensuring competitive options for traders.
| Feature |
HFM
|
Octa
|
|---|---|---|
| Minimum Deposit | $0 | $25 |
| Average Spread EUR/USD - Standard | 1.2 | 0.9 |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | No | No |
| 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 comparing the range of investments between HFM and Octa, both brokers provide access to forex trading through CFDs or spot contracts. HFM stands out with a broader selection of 500 tradeable symbols, including an impressive 102 forex pairs, whereas Octa offers 300 symbols and a more modest 35 forex pairs. Neither platform allows trading in U.S. exchange-listed securities, but Octa does enable trading international exchange-listed securities, providing an opportunity to buy renowned company shares like Vodafone from the London Stock Exchange. However, actual cryptocurrencies remain unavailable for purchase on both platforms, though cryptocurrency derivatives are offered.
Both HFM and Octa support copy trading, beneficial for those looking to mirror successful trading strategies. Evaluating their investment range, HFM scores slightly higher with a 4-star rating, while Octa earns 3.5 stars. This advantage is reflected in their respective rankings by ForexBrokers.com, where HFM is placed at #36 out of 63 brokers, showing a more diverse investment portfolio compared to Octa's rank at #52. HFM's offerings may suit those seeking a broader array of forex options and derivatives, whereas Octa provides unique access to international exchange securities.
| Feature |
HFM
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 300 |
| Forex Pairs (Total) | 102 | 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.
HFM and Octa provide excellent trading platforms that cater to both new and experienced traders. Both brokers offer free virtual demo accounts, allowing users to get accustomed to their systems without any financial risk. They also feature proprietary platforms developed in-house, alongside MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular choices for many traders. Additionally, HFM and Octa support Windows-based desktop downloads and web-based platforms, enabling flexibility in how traders can access their tools. Both brokers also offer copy trading and the ability to trade directly from a stock chart, enriching the trading experience.
Though HFM and Octa don't provide DupliTrade or ZuluTrade, they each have a variety of charting features. Notably, HFM offers 30 drawing tools for charting, whereas Octa provides 15. Their watch lists contain seven columns each, enabling efficient portfolio management. Rated four stars for trading platforms and tools, HFM and Octa are closely matched. However, when ranked among 63 brokers by ForexBrokers.com, Octa takes a slight edge at #37, compared to HFM's #42 ranking. This close competition between HFM and Octa highlights their strong offerings in the online trading arena.
| Feature |
HFM
|
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) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both HFM and Octa provide users with mobile trading apps compatible with iPhone and Android devices. Both platforms equip traders with essential features such as stock or forex price alerts and the ability to create watchlists with real-time quotes. Whether you're analyzing charts through HFM or Octa, you can access 30 technical studies to guide your trading decisions. Additionally, both apps allow you to draw trendlines on charts and view various time frames like daily, weekly, or intraday. You can also rest assured that any drawings you make on stock or forex charts will be automatically saved for future reference.
However, neither HFM nor Octa support watchlist symbol syncing, meaning changes made to your watchlist on mobile won't reflect on your online account and vice versa. Despite this limitation, both apps are well-received, boasting a solid mobile trading experience rated at 4 out of 5 stars. In rankings by ForexBrokers.com among 63 brokers for their mobile trading apps, Octa is slightly ahead, sitting at 36th place, while HFM holds the 39th spot. This makes both platforms competitive options for traders seeking reliable mobile trading solutions.
| Feature |
HFM
|
Octa
|
|---|---|---|
| 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 | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both HFM and Octa provide users with valuable daily market commentary and access to forex news from reputable sources like Bloomberg, Reuters, and Dow Jones. Traders can utilize tools from Autochartist on both platforms, augmenting their technical and fundamental analysis capabilities. However, neither platform provides research tools from Trading Central or Acuity Trading, nor do they include market research from TipRanks. HFM stands out by offering a sentiment-based trading tool that reveals the ratio of long or short positions across various currency pairs, a feature not available on Octa.
In terms of overall research capabilities, both HFM and Octa offer comprehensive economic calendars to keep traders informed of global economic events. In ratings, both platforms are awarded 4 out of 5 stars for research. However, a closer look at rankings by ForexBrokers.com shows HFM positioned at #20, ahead of Octa at #27, among 63 brokers evaluated. These insights can help guide users in selecting a platform that best matches their trading needs and research preferences.
| Feature |
HFM
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Both HFM and Octa stand out as online brokers that provide a wealth of educational resources tailored for beginners delving into forex and CFDs trading. Each platform offers more than ten diverse learning materials, including articles, videos, and archived webinars, to guide new traders in understanding the basics of the market. Both brokers host at least one live educational webinar monthly and provide a searchable archive of past webinars, allowing users to access a variety of topics at their own pace. Beginners can also benefit from the dedicated video content available, which covers essential trading concepts and techniques for those new to the scene.
Aside from beginner-focused materials, HFM and Octa also cater to advanced traders with over ten educational videos addressing more sophisticated trading strategies. Additionally, both platforms enhance learning with an investor dictionary, comprised of definitions of at least 50 investing terms. In terms of educational offerings, both brokers receive a commendable four-star rating. While HFM ranks at #37 and Octa at #42 in the education category on ForexBrokers.com, they remain essential resources for traders at all levels looking to expand their trading knowledge and skills.
| Feature |
HFM
|
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 HFM is better than Octa. HFM finished with an overall rank of #30, while Octa finished with an overall rank of #47.
Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, a proprietary HF mobile app, and a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average.
| Feature |
HFM
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 72 |
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Both HFM and Octa do not offer the ability to buy actual cryptocurrency, but they do provide the option to purchase cryptocurrency derivatives.
Both HFM and Octa do not offer ACH or SEPA transfers or PayPal for depositing or withdrawing funds, but they both support Skrill, Visa or Mastercard, and bank wire 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 | HFM | Octa | |
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| Trust Score | 86 | 72 | |
| Winner | check_circle | ||
| Review | HFM Review | Octa Review |
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| Regulation | HFM | Octa | |
|---|---|---|---|
| Trust Score | 86 | 72 | |
| Year Founded | 2010 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 3 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | HFM | Octa | |
|---|---|---|---|
| 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) | 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) | HFM | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HFM | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 300 | |
| Forex Pairs (Total) | 102 | 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 | HFM | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | Octa | |
|---|---|---|---|
| Minimum Deposit | $0 | $25 | |
| 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 | HFM | 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) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HFM | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HFM | Octa | |
|---|---|---|---|
| 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 | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | HFM | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | HFM | 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 | HFM | 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 | HFM Review | Octa Review |
| Overall | HFM | Octa | |
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| Trust Score | 86 | 72 | |
| Winner | check_circle | ||
| Review | HFM Review | Octa Review |
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