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Interactive Brokers vs OctaFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Interactive Brokers better than OctaFX? In our analysis of 23 international regulators across 62 of the best forex brokers, Interactive Brokers is considered low-risk, with an overall Trust Score of 99 out of 99. OctaFX is considered high-risk, with an overall Trust Score of 69 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating Interactive Brokers OctaFX
Overall Rating info 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score info 99 69
Winner check_circle
Review Interactive Brokers Review OctaFX Review
Broker Screenshots Interactive Brokers OctaFX
Trading Platforms Gallery (click to expand) info
Research Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation Interactive Brokers OctaFX
Trust Score info 99 69
Year Founded info 1977 2011
Publicly Traded (Listed) info Yes No
Bank info No No
European Union Authorised (MiFID) info Yes info Yes info
Tier-1 Licenses info 8 0
Tier-2 Licenses info 1 2
Tier-3 Licenses info 0 0
Tier-1 Licenses (High Trust) Interactive Brokers OctaFX
Australia (ASIC Authorised) info Yes No
Canada (SRO Authorised) info Yes No
Hong Kong (SFC Authorised) info Yes No
CBI Authorised (Ireland) info Yes No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No No
Tier-2 Licenses (Average Trust) Interactive Brokers OctaFX
China (CBRC Authorised) info No No
Cyprus (CySEC Authorised) info No Yes
India (SEBI Authorised) info Yes No
Israel (ISA Authorised) info No No
Russia (CBR Authorised) info No No
South Africa (FSCA Authorised) info No Yes
Thailand (SEC Authorised) info No No
UAE (DFSA/Central Bank Authorised) info No No
Tier-3 Licenses (Low Trust) Interactive Brokers OctaFX
Bahamas (SCB Authorised) info No No
Belize (FSC Authorised) info No No
Cayman Islands (CIMA Authorised) info No No
Bermuda (BMA Authorised) info No No
British Virgin Islands (FSC Authorised) info No No
Mauritius (FSC Authorised) info No No
Vanuatu (VFSC Authorised) info No No
Investments Interactive Brokers OctaFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 8500 229
Forex Pairs (Total) info 90 40
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info No Yes
Cryptocurrency (Physical) info Yes No
Cryptocurrency (CFD) No 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 OctaFX
Average Spread EUR/USD - Standard info 0.6 info 0.9 info
All-in Cost EUR/USD - Active info 0.6 info N/A
Active Trader or VIP Discounts info Yes No
Execution: Agency Broker info Yes Yes
Execution: Market Maker info No Yes
Funding Interactive Brokers OctaFX
Minimum Deposit info $0 $25
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms Interactive Brokers OctaFX
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools Interactive Brokers OctaFX
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 640 7
Charting - Indicators / Studies (Total) info 128 30
Charting - Drawing Tools (Total) info 85 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Interactive Brokers OctaFX
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 Yes No
Mobile Charting - Indicators / Studies info 97 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info No Yes
Forex Calendar info Yes Yes
Research Interactive Brokers OctaFX
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central (Recognia) info Yes No
Social Sentiment - Currency Pairs info Yes No
Economic Calendar info Yes Yes
Education Interactive Brokers OctaFX
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 Interactive Brokers OctaFX
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 Interactive Brokers Review OctaFX Review
Overall Interactive Brokers OctaFX
Overall Rating info 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score info 99 69
Winner check_circle
Review Interactive Brokers Review OctaFX Review
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Interactive Brokers vs OctaFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare Interactive Brokers vs OctaFX.

Does Interactive Brokers or OctaFX offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Interactive Brokers offers better pricing overall for traders.

Is Interactive Brokers or OctaFX safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Interactive Brokers holds 8 global Tier-1 licenses, while OctaFX holds 0. OctaFX holds 2 global Tier-2 licenses, while Interactive Brokers holds 1. In our analysis of 23 international regulators across 50 brokers, Interactive Brokers earned a higher Trust Score than OctaFX.

Which trading platform is better: Interactive Brokers or OctaFX?

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

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

Interactive Brokers provides traders 90 currency pairs (e.g., EUR/USD) compared to OctaFX's 40 available pairs. Forex pairs aside, Interactive Brokers offers traders access to 8500 CFDs while OctaFX has 229 available CFDs, a difference of 8271.

Can I trust Interactive Brokers?

Interactive Brokers is publicly traded, does not operate a bank, and is authorised by nine tier-1 regulators (high trust), one tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Interactive Brokers is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), Monetary Authority of Singapore (MAS), and the Commodity Futures Trading Commission (CFTC).

Can I trust OctaFX?

OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by zero tier-1 regulators (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust).

Is Interactive Brokers good?

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.

Is OctaFX good?

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

Overall winner: Interactive Brokers

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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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