Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers, established in 1977, stands as a highly trusted online broker with a perfect Trust Score of 99 from ForexBrokers.com. It is publicly traded and holds an impressive nine Tier-1 licenses, reflecting its credibility and compliance with top regulators. Additionally, Interactive Brokers has two Tier-2 licenses, further bolstering its reputation as a premier broker in the industry. Though not a bank, its long-standing history and excellent regulatory record make it a go-to choice for many investors seeking a reliable trading platform.
In contrast, Octa, founded in 2011, offers a different trading environment with a Trust Score of 72, placing it in the average risk category. Unlike Interactive Brokers, Octa is not publicly traded. It holds one Tier-1 license and one Tier-2 license, which indicates a moderate level of regulatory oversight. While it is not a bank, Octa may appeal to traders who prioritize other factors, but individuals should consider its regulatory rating and relative youth in the financial markets before making a decision.
| Feature |
Interactive Brokers
|
Octa
|
|---|---|---|
| Year Founded | 1977 | 2011 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 1 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Interactive Brokers is highly regarded for its competitive pricing structure, especially in the forex trading arena, where it boasts an impressive all-in spread of 0.59 pips for EUR/USD trades. The brokerage charges a commission starting at 0.2 basis points of the U.S. dollar trade value, with a minimum fee of $2 per order. Active traders can enjoy significant discounts, with fees dropping as low as $1 per order when trading volumes exceed certain thresholds. By aggregating prices from 17 of the world's top interbank forex dealers and following a commission-based approach, Interactive Brokers provides transparency and value. ForexBrokers.com ranks Interactive Brokers as #2 out of 63 brokers in the Commissions and Fees category, awarding it a five-star rating.
On the other hand, Octa has made significant strides in enhancing its pricing to become more competitive among MetaTrader brokers. Although its pricing structure varies by account type and regulatory entity, Octa boasts improved spreads, with the EU entity offering an average spread of 0.5 pips for the EUR/USD pair. However, these spread figures lack a specified date range, making precise comparisons challenging. Notably, Octa promises no slippage on 97.5% of executed orders, and omits overnight carry costs, though some restrictions may limit high-frequency trading. While Octa's pricing enhancements are commendable, its overall rating by ForexBrokers.com is four stars, placing it at #29 among 63 brokers for Commissions and Fees.
In summary, Interactive Brokers stands out as an excellent choice for forex traders seeking low commissions and extensive market access through its agency execution model. Active traders, in particular, may find significant benefit in the volume-based discounts offered by Interactive Brokers. Meanwhile, Octa is catching up to lower-cost brokers by refining its spread offerings, though it still faces hurdles such as the lack of transparency in spread data. Therefore, while both brokers present unique advantages, Interactive Brokers currently takes the lead with its comprehensive and transparent pricing strategy.
| Feature |
Interactive Brokers
|
Octa
|
|---|---|---|
| Minimum Deposit | $0 | $25 |
| Average Spread EUR/USD - Standard | 0.59 | 0.9 |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Interactive Brokers and Octa in terms of investment options, there are several key differences in their offerings. Interactive Brokers stands out with an impressive 8,500 tradeable symbols, including 90 forex pairs, allowing for a diverse range of investment choices. In contrast, Octa offers a more limited selection with 300 tradeable symbols and 35 forex pairs. Notably, Interactive Brokers provides access to U.S. exchange-traded securities, such as Apple shares, which Octa does not. Both platforms allow investment in international exchange-traded securities, but Interactive Brokers also enables clients to purchase actual cryptocurrency, a feature not available at Octa.
Furthermore, Octa does offer copy trading, a feature that Interactive Brokers lacks, which may appeal to those interested in mimicking successful trades. When it comes to cryptocurrency, both brokers offer cryptocurrency derivatives. However, the variety of investments at Interactive Brokers has earned them the top rank out of 63 brokers, with a perfect 5-star rating for their range of investments. Meanwhile, Octa is rated at 3.5 stars and holds the 52nd spot in the same category, reflecting a more limited array of options in comparison.
| Feature |
Interactive Brokers
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 300 |
| Forex Pairs (Total) | 90 | 35 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | 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.
Interactive Brokers and Octa both provide a wealth of options for traders through their trading platforms. Each broker offers a simulated or paper trading feature that allows users to test their strategies before venturing into live markets. Both platforms have proprietary systems developed internally, and they support Windows-based desktop downloads alongside web-based trading options. However, Octa stands out with features like copy trading support and compatibility with popular third-party platforms MetaTrader 4 and MetaTrader 5, which Interactive Brokers does not offer.
When it comes to charting tools, Interactive Brokers offers a more comprehensive suite with 85 drawing tools compared to Octa’s 15. Both brokers allow users to trade directly from stock charts, but Interactive Brokers provides a far more detailed watch list feature with 659 columns, vastly surpassing Octa's 7. Rated 5 stars for trading platforms and tools, Interactive Brokers ranks #3 out of 63 brokers, whereas Octa earns 4 stars and ranks #37. This distinction highlights Interactive Brokers as a leader in trading platform offerings compared to Octa.
| Feature |
Interactive Brokers
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Interactive Brokers and Octa provide trading apps for iPhone and Android users, offering real-time stock and forex price alerts as well as the ability to draw trendlines and view multiple time frames on charts. However, when it comes to watchlist syncing across platforms, Interactive Brokers takes the lead, allowing users to sync their watchlists between mobile and online accounts, a feature Octa lacks. Additionally, Interactive Brokers distinguishes itself with a significantly wider range of charting tools, offering 97 technical studies compared to Octa's 30, although Octa does have the advantage of automatically saving chart drawings.
In terms of user ratings and industry rankings, Interactive Brokers shines with a perfect 5-star rating for its mobile trading app and ranks 4th out of 63 brokers according to ForexBrokers.com. Octa, while offering solid features, trails with a 4-star rating and a rank of 36th. Overall, both apps offer valuable tools for traders, but Interactive Brokers provides a more comprehensive experience, particularly for those who value advanced charting tools and seamless watchlist integration.
| Feature |
Interactive Brokers
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Interactive Brokers and Octa both provide daily market commentary and deliver forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. However, there are distinct differences in their offerings. Interactive Brokers includes a sentiment-based trading tool and market research from companies like TipRanks and Acuity Trading, enhancing its market research capabilities. In contrast, Octa offers technical analysis tools from Autochartist, which Interactive Brokers does not, but misses out on the sentiment tool and market research resources from TipRanks and Acuity Trading.
Both brokers provide an economic calendar with updates on global news events. However, Interactive Brokers stands out with higher ratings and rankings. It has been awarded 5 stars for research and holds the third position among 63 brokers according to ForexBrokers.com. Meanwhile, Octa holds a solid 4-star rating and ranks 27th in the same category. Overall, while both brokers offer substantial research tools, Interactive Brokers provides a more comprehensive and higher-rated market research experience.
| Feature |
Interactive Brokers
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available to beginners through Interactive Brokers and Octa, both platforms offer impressive learning materials, including at least ten pieces focused on forex or CFDs, such as articles, videos, and webinars. They also provide online client webinars monthly, along with searchable archives of past webinars, ensuring users have easy access to a wide range of information. Additionally, both brokers cater to beginners with a selection of educational videos tailored to novice traders, as well as advanced content for more experienced users. They each supply an investor dictionary featuring over 50 investing term definitions, helping traders become well-versed in the language of investing.
Despite these similarities, Interactive Brokers stands out with a higher education rating of five stars compared to Octa's four stars and ranks significantly higher in ForexBrokers.com's education category, placing third out of 63 brokers, while Octa is ranked 42nd. This distinction suggests that Interactive Brokers might have a slight edge in offering a more comprehensive and perhaps a more organized educational experience for beginner traders. For new investors seeking an abundant and high-rated educational resource, Interactive Brokers might be the more suitable choice.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than Octa. Interactive Brokers finished with an overall rank of #2, while Octa finished with an overall rank of #47.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 72 |
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Interactive Brokers allows users to buy both actual delivered cryptocurrency and cryptocurrency derivatives, while Octa only provides the option to buy cryptocurrency derivatives.
Interactive Brokers supports ACH and SEPA transfers along with bank wires for funding and withdrawing account funds, whereas Octa offers funding options via Skrill, Visa, Mastercard, and bank wires but lacks ACH and SEPA transfer support, with neither platform providing PayPal as an option.
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 | Interactive Brokers | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Octa Review |
| Broker Screenshots | Interactive Brokers | Octa | |
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| Regulation | Interactive Brokers | Octa | |
|---|---|---|---|
| Trust Score | 99 | 72 | |
| Year Founded | 1977 | 2011 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 1 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) |
| Investments | Interactive Brokers | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 300 | |
| Forex Pairs (Total) | 90 | 35 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | Interactive Brokers | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | Octa | |
|---|---|---|---|
| Minimum Deposit | $0 | $25 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | Octa | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | Octa | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 97 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review | Octa Review |
| Overall | Interactive Brokers | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Octa Review |
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