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HFM vs Octa 2024

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is HFM better than Octa? In our analysis of 23 international regulators across 62 of the best forex brokers, HotForex is considered Trusted, with an overall Trust Score of 86 out of 99. Octa is considered Average-Risk, with an overall Trust Score of 70 out of 99. Learn more about Trust Score.

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Compare

0 of 5
Overall Rating HFM Octa
Overall Rating info 4/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 4/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 4/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 86 70
Winner check_circle
Review HFM Review Octa Review
Broker Screenshots HFM Octa
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation HFM Octa
Trust Score info 86 70
Year Founded info 2010 2011
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 2 1
Tier-2 Licenses info 3 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 2 0
Tier-1 Licenses (Highly Trusted) HFM Octa
Australia (ASIC Authorised) info No No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) HFM Octa
Kenya (CMA Authorised) info Yes No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info Yes Yes
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments HFM Octa
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 3500 230
Forex Pairs (Total) info 102 35
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 info 1.2 info 0.9 info
All-in Cost EUR/USD - Active info 0.7 info N/A
Active Trader or VIP Discounts info No No
Inactivity Fee info Yes No
Execution: Agency Broker info No Yes
Execution: Market Maker info Yes Yes
Funding HFM Octa
Minimum Deposit info $0 $25
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms HFM Octa
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools HFM Octa
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 7 7
Charting - Indicators / Studies (Total) info 15 30
Charting - Drawing Tools (Total) info 30 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading HFM Octa
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Economic Calendar info Yes Yes
Research HFM Octa
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes Yes
Trading Central (Recognia) info No No
TipRanks info No No
Social Sentiment - Currency Pairs info Yes No
Economic Calendar info Yes Yes
Education HFM Octa
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs HFM Octa
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review HFM Review Octa Review
Overall HFM Octa
Overall Rating info 4/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 4/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 4/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score info 86 70
Winner check_circle
Review HFM Review Octa Review
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HFM vs Octa Comparison

Weโ€™ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare HFM vs Octa.

Can I trust HFM?

HotForex is not publicly traded and does not operate a bank. HotForex is authorised by two Tier-1 regulators (Highly Trusted), Three tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). HotForex is authorised by the following Tier-1 regulator: Financial Conduct Authority (FCA) and regulated in the European Union via the MiFID passporting system.

Can I trust Octa?

Octa 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). Octa is authorised by the following Tier-1 regulators: Regulated in the European Union via the MiFID passporting system.

Is HFM good?

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.

Is Octa good?

Octa offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.

What is the minimum deposit requirement for opening an account with HFM?

To open a trading account with HFM, you'll need to make an initial minimum deposit of $0.

What is the minimum deposit requirement for opening an account with Octa?

Octa requires a minimum deposit of $25 before you can open an account and start trading.

What funding options does each broker offer?

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both HFM and Octa offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw).

Does HFM or Octa offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Octa offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

Is HFM or Octa safer for forex and CFDs trading?

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that HFM holds 2 global Tier-1 licenses, while Octa holds 1. HFM holds 3 global Tier-2 licenses, while Octa holds 1.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that HFM (86) earned a higher Trust Score than Octa (70).

Which trading platform is better: HFM or Octa?

To compare the trading platforms of both HFM and Octa, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Octa offers a better experience. With research, HFM offers superior market research. Finally, we found Octa to provide better mobile trading apps.

Hereโ€™s what trading platforms are available at HFM:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - Yes
  • ZuluTrade - No
  • TradingView - No

Hereโ€™s what trading platforms are available at Octa:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - Yes
  • ZuluTrade - No
  • TradingView - No

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both HFM and Octa offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. HFM and Octa both offer copy trading.

What can I trade with each broker?

HFM provides traders 102 currency pairs (e.g., EUR/USD) compared to Octa's 35 available pairs. If you are interested in trading CFDs, HFM offers traders access to 3500 CFDs, while Octa offers access to 230 CFDs; so HFM offers 3270 more CFDs than Octa.

We found in our testing that HFM offers a more diverse selection of investment options than Octa, allowing you to trade both brokers allow traders to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Int'l Stock Trading (Non CFD), Cryptocurrency (Physical) and Spread Betting.

Overall winner: HFM

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announcementPlease note:

We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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