Written by ForexBrokers.com
In this head to head comparison of Octa vs iFOREX, 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.
Octa, founded in 2011, and iFOREX, established in 1996, are prominent online brokers in the trading world, each bringing their own strengths to the table. Neither company is publicly traded or functions as a bank, but both have made strides to gain regulatory trust. Octa holds one Tier-1 license, which signals a high level of trust, and one Tier-2 license, considered trusted. In comparison, iFOREX holds just one Tier-1 license and no Tier-2 licenses, focusing their efforts on a single, highly regarded regulatory approval.
In terms of trustworthiness, Octa and iFOREX have varying ratings according to ForexBrokers.com. Octa holds a Trust Score of 72, placing it in the average risk category, while iFOREX achieves a slightly higher score of 75, also categorized under average risk. Both brokers strive for transparency and reliability, yet iFOREX seems to inch forward slightly in trust rating, despite fewer licenses overall.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Year Founded | 2011 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When evaluating the commissions and fees of online brokers, Octa stands out as a competitive choice, earning a commendable 4-star rating for its cost structure. Previously challenged with pricing issues, Octa has significantly improved and now ranks as the 29th broker out of 62 in the Commissions and Fees category according to ForexBrokers.com. A notable benefit of trading with Octa is the absence of slippage on 97.5% of executed orders, alongside no overnight carry costs. However, the broker implements restrictions that may affect high-frequency traders. Depending on the regulatory entity, clients can choose from various account types, impacting the fees they encounter. Despite gains in pricing, it is crucial to note that average spread data lacks date range references, which can influence the reliability of its claims.
By comparison, iFOREX has less transparency in its fee structure, particularly with the absence of average spread data availability, which could be a critical factor for potential investors. This lack of detailed spread information has likely contributed to its lower 3-star rating for commissions and fees. Within the competitive landscape, iFOREX holds a ranking of 60th out of 62 brokers as per ForexBrokers.com in this category. While iFOREX may provide satisfactory services to its clients, the inadequate availability of historical spread data leaves prospective users with gaps in the full understanding of its pricing dynamics.
In summary, Octa has made significant strides to better position itself among lower-cost brokers, making it an appealing option for traders focused on minimizing costs. Meanwhile, iFOREX exhibits weaknesses in fee transparency, which prospective traders should consider when assessing its viability compared to other brokers. While both brokers offer unique advantages, careful consideration of the available fee information and star ratings is essential for making informed trading decisions.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $25 | $100 |
| Average Spread EUR/USD - Standard | 0.9 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| 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 available at Octa and iFOREX, both brokers offer forex trading as CFDs, enabling traders to participate in the currency markets without owning the underlying assets. However, iFOREX stands out with a broader selection, offering 750 tradable symbols and 88 forex pairs, compared to Octa’s 300 symbols and 35 forex pairs. Neither platform provides the option to purchase exchange-traded securities on U.S. exchanges, but Octa does offer this feature on international exchanges, unlike iFOREX.
For those interested in cryptocurrency derivatives, both Octa and iFOREX allow trading without owning the actual asset, while neither offers direct cryptocurrency purchasing. Copy trading is available at Octa, offering a hands-off approach for investors to follow successful strategies, whereas this feature is absent at iFOREX. Despite these differences, both platforms receive the same rating of 3.5 stars for their range of investments. However, iFOREX is ranked higher at 41st out of 62 brokers, while Octa is ranked 52nd, reflecting subtle nuances in their offerings.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 300 | 750 |
| Forex Pairs (Total) | 35 | 88 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | No |
| 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 the trading platforms and tools offered by Octa and iFOREX, several key differences emerge. Octa stands out with features like a free virtual demo account, allowing users to practice trading without financial risk. It also provides a proprietary platform developed in-house, along with options for both Windows-based desktop and web-based trading. Octa further supports popular trading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are not available with iFOREX. Copy trading is another feature Octa offers, while iFOREX does not. For charting, Octa provides users with 15 drawing tools and the ability to trade directly from stock charts, although it lacks specific information on the number of technical indicators it offers.
iFOREX, on the other hand, also offers a proprietary platform but does not feature Windows-based desktop trading or support for MT4 and MT5 platforms. It does offer web-based trading and a slightly larger selection of drawing tools for charting, with a total of 25, alongside the capability to trade directly from stock charts. iFOREX outpaces Octa in terms of watch list customization, providing 9 columns for fields, compared to Octa's 7. Both Octa and iFOREX are rated 4 stars for their trading platforms and tools, though Octa ranks higher in this category at #37 out of 62 brokers, whereas iFOREX holds a position at #54, according to ForexBrokers.com.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 57 |
| Charting - Drawing Tools (Total) | 15 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Octa and iFOREX offer mobile trading apps available for iPhone and Android users. When it comes to receiving stock or forex price alerts, Octa has the edge, providing this feature, while iFOREX does not. However, neither broker offers watchlist symbol syncing, which means your watchlist changes won’t automatically sync between their mobile app and online account. In terms of technical analysis tools, Octa leads with 30 technical studies and the ability to draw trendlines on charts, while iFOREX lacks these features entirely. Moreover, Octa allows viewing multiple time frames on a chart, and it also auto-saves any chart drawings made, features not found in iFOREX's mobile platform.
While both brokers allow for the creation of a watchlist, only Octa displays real-time quotes in its app. Despite their differences, both brokers have received similar user ratings, with a solid 4 out of 5 stars for mobile trading apps. However, differences in features reflect in their rankings; Octa stands higher at #35, compared to iFOREX, which is ranked at #55 out of 62 brokers, according to ForexBrokers.com. This suggests Octa might be the better option for those seeking a more feature-rich experience in a mobile trading app.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of online brokers Octa and iFOREX, several distinctions come to light. Both Octa and iFOREX provide daily market commentary and maintain comprehensive economic calendars that feature current and upcoming global news events. However, Octa stands out with its access to forex news from prestigious sources such as Bloomberg, Reuters, and Dow Jones, while iFOREX does not provide news from these top-tier outlets. Furthermore, Octa offers technical analysis tools from Autochartist, enhancing its research capabilities, whereas iFOREX lacks tools from Autochartist but includes offerings from Trading Central, like Technical Analytics.
Another key difference between the two is iFOREX's provision of sentiment-based trading tools that reveal the ratio of long or short positions across different currency pairs, a feature Octa does not offer. Despite some variations in their research tools, Octa receives a higher research rating of 4 stars compared to iFOREX's 3.5 stars. According to ForexBrokers.com, Octa is ranked 27th out of 62 brokers in the Research category, outperforming iFOREX, which holds the 48th position. This ranking highlights Octa's slightly superior market research features and recognition in this competitive field.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| 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 to beginners, Octa clearly stands out with its comprehensive offerings. Octa provides more than 10 educational pieces focusing on forex or CFDs, while iFOREX falls short in this area. Additionally, Octa offers regular online educational webinars for its clients, which are held monthly, and these sessions are also accessible via a searchable archive of recorded webinars. On the other hand, iFOREX does not host regular webinars or maintain an archive of recorded sessions. Both platforms cater to newcomers with plenty of beginner-friendly videos, but Octa extends its educational support to seasoned traders with over 10 advanced videos designed for experienced users. Octa further aids budding traders with an investor dictionary of over 50 investing terms, a feature not mirrored by iFOREX.
When considering overall education ratings, Octa receives four out of five stars, slightly edging out iFOREX, which is rated at 3.5 stars. This reflects their wider range of educational materials and engagement options for traders at different levels. Furthermore, ForexBrokers.com ranks Octa higher in the Education category at the 42nd position among 62 brokers, while iFOREX holds the 53rd spot. This ranking further underscores Octa's commitment to equipping traders with the essential knowledge and tools for success. Overall, for beginners or anyone looking to deepen their understanding of forex and CFDs, Octa delivers a more complete educational suite.
| Feature |
Octa
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Octa is better than iFOREX. Octa finished with an overall rank of #47, while iFOREX finished with an overall rank of #52.
Octa offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
| Feature |
Octa
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iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 72 | 75 |
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Both Octa and iFOREX do not offer the ability to buy actual cryptocurrency, providing only cryptocurrency derivatives for traders instead.
While both Octa and iFOREX provide options for fund transactions via Skrill, Visa, Mastercard, and bank wires, only iFOREX offers the added convenience of PayPal, as neither broker supports ACH or SEPA transfers for deposits or withdrawals.
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 | Octa | iFOREX | |
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| Trust Score | 72 | 75 | |
| Winner | check_circle | ||
| Review | Octa Review |
| Broker Screenshots | Octa | iFOREX | |
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| Regulation | Octa | iFOREX | |
|---|---|---|---|
| Trust Score | 72 | 75 | |
| Year Founded | 2011 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Octa | iFOREX | |
|---|---|---|---|
| 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) | No | Yes | |
| 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) | Octa | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Octa | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 300 | 750 | |
| Forex Pairs (Total) | 35 | 88 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | Octa | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.9 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Octa | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $25 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| 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 | Octa | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Octa | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | 57 | |
| Charting - Drawing Tools (Total) | 15 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Octa | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Octa | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Octa | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Octa | iFOREX | |
|---|---|---|---|
| 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 | Octa Review |
| Overall | Octa | iFOREX | |
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| Trust Score | 72 | 75 | |
| Winner | check_circle | ||
| Review | Octa Review |
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