Written by ForexBrokers.com
In this head to head comparison of IC Markets 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.
Founded in 2007, IC Markets stands out as a trusted online broker with a ForexBrokers.com Trust Score of 84, placing it in the trusted category. The firm holds two Tier-1 licenses, which signifies a high level of confidence in its operations. Even though it is not publicly traded and doesn’t operate as a bank, IC Markets has built a reputation in the industry for reliability.
Octa, established in 2011, carries a ForexBrokers.com Trust Score of 72, marking it as an average risk broker. It holds one Tier-1 license and also one Tier-2 license, which collectively contribute to its standing. Similar to IC Markets, Octa is neither publicly listed nor a banking institution. While Octa lags slightly behind IC Markets in terms of licensing and trust score, it still offers regulated services in the online brokerage space.
| Feature |
IC Markets
|
Octa
|
|---|---|---|
| Year Founded | 2007 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing IC Markets and Octa on commissions and fees, IC Markets stands out with its competitive pricing, earning it a five-star rating and a #5 ranking out of 63 brokers in ForexBrokers.com’s Commissions and Fees category. IC Markets offers a range of account types, including commission-free and commission-based options, tailored for both casual and active traders. The Raw Spread accounts, associated with MetaTrader and cTrader platforms, offer competitive spreads and low commissions—$6.00 per round turn for cTrader and $7.00 for MetaTrader. Active traders can enjoy discounts, making IC Markets an appealing choice for cost-conscious forex enthusiasts.
On the other hand, Octa has improved significantly in its pricing strategy, offering competitive spreads and no slippage on the majority of executed orders. Rated four stars and ranked #29 by ForexBrokers.com, Octa provides various account types depending on the regulatory entity tailoring to both EU and international clients. Although its EU entity lists an average spread of 0.5 pips for the EUR/USD pair, these values lack a specific date range, slightly diminishing their credibility. Nevertheless, Octa keeps pace with some of the most cost-effective MetaTrader brokers, despite some limitations that may affect high-frequency trading.
Overall, while both brokers offer unique advantages, IC Markets tends to lead in terms of lower overall trading costs and flexibility in account options. Octa is making strides and offers an attractive proposition, particularly with its zero slippage on most orders and competitive spreads, but it remains just behind IC Markets in terms of cost efficiency and transparency in pricing.
| Feature |
IC Markets
|
Octa
|
|---|---|---|
| Minimum Deposit | $200 | $25 |
| Average Spread EUR/USD - Standard | 0.62 | 0.9 |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | 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 IC Markets to Octa for their range of investments, both platforms offer forex trading through CFDs or spot contracts. IC Markets provides access to a significantly larger variety of tradeable symbols with 3,583 options, far surpassing Octa's selection of 300. In the realm of forex pairs, IC Markets again leads with 61 pairs available, compared to Octa's 35. Both brokers do not offer direct trading of U.S. exchange-listed securities such as Apple shares but do provide the option for international exchange-traded securities, enabling clients to invest in companies like Vodafone.
Both IC Markets and Octa offer copy trading for those looking to mirror the strategies of other traders. While neither platform allows for purchasing actual cryptocurrencies, they do support trading in cryptocurrency derivatives. Based on ratings, IC Markets receives a commendable 4.5 stars for its range of investments, ranking 25th among 63 brokers according to ForexBrokers.com. Meanwhile, Octa holds a lower rating of 3.5 stars and is positioned at 52nd in the same category, indicating IC Markets as the preferable choice for investors seeking a broader selection of trading opportunities.
| Feature |
IC Markets
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 300 |
| Forex Pairs (Total) | 61 | 35 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | 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.
When comparing IC Markets and Octa on their trading platforms and tools, both brokers offer comparable features to enhance your trading experience. Traders looking to explore the market without financial risk can take advantage of the simulated trading opportunities, as both IC Markets and Octa provide free virtual demo accounts. However, the two brokers differ when it comes to proprietary platforms. While Octa has developed its own in-house trading platform, IC Markets relies solely on well-known third-party platforms, including MetaTrader 4 and 5, which are also available at Octa. For traders using desktop platforms, both brokers offer Windows-based applications, and they also provide web-based platforms for those who prefer trading directly from their browsers.
Copy trading enthusiasts will find options with both brokers, but only IC Markets supports ZuluTrade. Both platforms cater to technical market analysis with 15 drawing tools each and allow traders to execute trades straight from stock charts. IC Markets and Octa offer comprehensive watch lists with seven customizable fields. In terms of rankings and ratings, both brokers receive a commendable four-star rating for their trading platforms and tools. However, IC Markets is slightly ahead in the rankings provided by ForexBrokers.com, placing them at #16 compared to Octa's #37 out of 63 brokers surveyed.
| Feature |
IC Markets
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of IC Markets and Octa, both provide essential features for traders on iPhone and Android devices. Users of both platforms can receive stock and forex price alerts. Although neither app supports watchlist symbol syncing, both offer 30 technical studies for chart analysis. Drawing trendlines and viewing different time frames are available on both, while any chart drawings automatically save, ensuring a smooth user experience. Additionally, creating a watchlist with real-time quotes is supported on both apps, making it easier for traders to keep track of their preferred stocks or currencies.
Despite these similarities, IC Markets edges out slightly in terms of overall ranking for mobile trading apps, holding the #22 spot according to ForexBrokers.com, while Octa is ranked at #35. Both apps receive a solid rating of 4 stars out of 5, indicating a satisfied user base. Ultimately, IC Markets might appeal more to traders prioritizing a slightly higher rank in their mobile trading experience, while both apps offer comprehensive features for effective trading on the go.
| Feature |
IC Markets
|
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.
When comparing market research features, both IC Markets and Octa provide daily market commentary and access to top-tier forex news from renowned sources like Bloomberg and Reuters. Additionally, both brokers offer tools from Autochartist, known for enhancing traders' technical and fundamental analysis capabilities. However, IC Markets surpasses Octa due to its inclusion of Trading Central tools, which Octa lacks, offering enhanced technical analytics for traders. Moreover, IC Markets also provides a sentiment-based trading tool that showcases the ratio of long or short positions across different instruments, a feature not seen with Octa.
Both brokers supply an economic calendar that highlights global news events, enabling users to stay informed about the economic landscape. Despite IC Markets offering slightly more in terms of research tools, both platforms receive a solid 4-star rating for research. In terms of ranking among 63 brokers on ForexBrokers.com, IC Markets stands at 23rd place while Octa follows closely at 27th place. This information positions IC Markets as a slightly more comprehensive choice for those in need of advanced trading insights and tools, though both brokers offer valuable resources for understanding the markets.
| Feature |
IC Markets
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | 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.
When comparing the educational resources available for beginners from IC Markets and Octa, both brokers provide a substantial array of learning materials to support new traders. Both IC Markets and Octa offer a minimum of 10 educational pieces focused on forex or CFDs, ensuring beginners have access to a variety of articles, videos, and archived webinars. Additionally, each broker holds monthly online client webinars and has an easily accessible archive of these sessions for those who prefer learning at their own pace. This ensures that emerging traders can continually build their knowledge base through live interactions and past recordings.
Beyond these resources, both IC Markets and Octa deliver tailored educational videos, with at least 10 specifically designed for beginners and another set aimed at advanced traders. They also offer investor dictionaries with over 50 investing terms, broadening understanding of key trading concepts. Despite their similarities, IC Markets stands out by securing the 16th position for education among 63 brokers on ForexBrokers.com, whereas Octa ranks 42nd in the same category. Both platforms receive a solid 4-star education rating; however, IC Markets’ higher ranking might make it a more appealing choice for beginners seeking extensive educational support.
| Feature |
IC Markets
|
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 IC Markets is better than Octa. IC Markets finished with an overall rank of #20, while Octa finished with an overall rank of #47.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
|
Octa
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 84 | 72 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both IC Markets and Octa do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
IC Markets and Octa both offer Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing account funds, but only IC Markets supports PayPal, while neither provides ACH or SEPA transfers.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | IC Markets | Octa | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 84 | 72 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Octa Review |
| Broker Screenshots | IC Markets | Octa | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | IC Markets | Octa | |
|---|---|---|---|
| Trust Score | 84 | 72 | |
| Year Founded | 2007 | 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 | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | 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) | No | 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) | IC Markets | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 300 | |
| Forex Pairs (Total) | 61 | 35 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | IC Markets | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | Octa | |
|---|---|---|---|
| Minimum Deposit | $200 | $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 | No | No |
| Trading Platforms | IC Markets | Octa | |
|---|---|---|---|
| Proprietary Platform | No | 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 | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | 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 | IC Markets | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | 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 | IC Markets | 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 | IC Markets Review | Octa Review |
| Overall | IC Markets | Octa | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 84 | 72 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Octa Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill