Written by ForexBrokers.com
In this head to head comparison of Octa vs IronFX, 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.
When comparing the online brokers Octa and IronFX, it's clear both companies hold a strong presence in the trading world. Octa, founded in 2011, is a non-bank entity that is not publicly traded. It holds one Tier-1 license and one Tier-2 license, earning it a Trust Score rating of 72 out of 99 according to ForexBrokers.com, placing it in the average risk category.
IronFX, established a year earlier in 2010, shares the distinction of not being a bank or publicly listed. However, it distinguishes itself with three Tier-1 licenses, contributing to its higher Trust Score of 83 out of 99, placing it in the trusted category. This indicates a more reassuring level of trustworthiness, especially for those concerned with regulatory oversight.
| Feature |
Octa
|
IronFX
|
|---|---|---|
| Year Founded | 2011 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
Octa and IronFX are two online brokers offering competitive pricing, though each has its distinctive features. Octa has notably improved its pricing strategy, becoming one of the lower-cost MetaTrader brokers by eliminating slippage on 97.5% of its orders and waiving overnight carry costs. However, restrictions may affect high-frequency traders. Clients selecting Octa's services will find that fees and commissions vary depending on the account type and the regional entity governing their account. European users are limited to a single MT5 account, whereas international clients can choose from multiple options, including MT4, MT5, and OctaTrader. Regarding spreads, Octa's European entity offers slightly better rates at 0.5 pips for the EUR/USD pair compared to 0.9 pips with its foreign entities. Despite the lack of a date range for spread data, Octa maintains competitive pricing, earning a four-star rating and the #29 ranking out of 63 brokers in the Commissions and Fees category by ForexBrokers.com.
IronFX, on the other hand, has room for improvement in terms of pricing. The broker lists a typical spread of 1.8 pips for its Standard variable spread account, though this can fluctuate across different account types. For instance, the zero fixed-spread account starts at zero but incurs an $18 per lot commission, with spreads potentially widening to 3 pips overnight. This variability, coupled with a lack of specific date ranges for spread data, suggests less predictability compared to Octa. IronFX also holds a four-star rating for its commissions and fees, yet ranks #46 among 63 brokers as evaluated by ForexBrokers.com, indicating a higher cost relative to Octa.
| Feature |
Octa
|
IronFX
|
|---|---|---|
| Minimum Deposit | $25 | $50 |
| Average Spread EUR/USD - Standard | 0.9 | 1.2 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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 it comes to the range of investments, both Octa and IronFX offer forex trading as either a CFD or a spot contract. While Octa provides access to 300 tradeable symbols, IronFX slightly edges ahead with 340. If you're looking specifically at tradeable forex pairs, IronFX offers more variety with 83 pairs compared to Octa's 35. Neither broker allows you to buy exchange-traded securities on U.S. exchanges. However, Octa offers access to international exchange-traded securities, whereas IronFX does not. Both brokers provide copy trading and the ability to trade cryptocurrency derivatives, but neither allows the purchase of actual cryptocurrencies.
Despite the differences in their offerings, Octa and IronFX are both rated 3.5 out of 5 stars for their range of investments. According to ForexBrokers.com, IronFX holds a slight edge in ranking at #51, while Octa falls just behind at #52 out of 63 brokers. Overall, the choice between the two platforms may come down to specific trade preferences or the need for international stock trading, which Octa offers.
| Feature |
Octa
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 300 | 340 |
| Forex Pairs (Total) | 35 | 83 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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 the trading platforms and tools of Octa and IronFX, both brokers offer useful features for traders, making each a viable option depending on specific needs. Octa stands out with its proprietary platform, which is developed in-house, allowing for a potentially more tailored user experience. While both brokers provide tried-and-tested options like MetaTrader 4, Octa also supports MetaTrader 5, which is absent from IronFX’s offerings. Both Octa and IronFX offer web-based platforms, Windows-based desktop downloads, and support copy trading, catering to diverse user preferences. Additionally, both provide a free virtual demo account to help traders hone their skills without financial risk.
Regarding charting tools, both Octa and IronFX align closely, each offering 15 drawing tools and 7 columns for watch lists. Both platforms also allow traders to execute trades directly from stock charts, adding to their convenience. Where Octa outshines IronFX, however, is in its overall ranking and user rating for trading platforms and tools. Octa holds a higher place in the ForexBrokers.com rankings at 37 out of 63, compared to IronFX’s ranking of 61. With Octa rated 4 stars versus IronFX’s 3.5 stars, traders may find Octa’s platform features more favorable for their trading strategies.
| Feature |
Octa
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | 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.
Both Octa and IronFX provide iPhone and Android apps for trading on the go, allowing users to access stock and forex price alerts directly from their devices. These apps support charting functionalities with 30 technical studies each and enable users to draw trendlines and view multiple time frames, such as daily, weekly, or intraday, directly on the charts. Both platforms auto-save drawings and offer the creation of watchlists with real-time quotes. However, neither Octa nor IronFX supports watchlist symbol syncing across devices and their corresponding online accounts, which means you'll need to manually update lists on different platforms.
When it comes to user ratings, Octa's mobile trading app achieves a higher score of 4 stars, compared to IronFX's 3.5 stars. Additionally, Octa enjoys a stronger standing in the Mobile Trading Apps category according to ForexBrokers.com, ranking at #36 out of 63 brokers. In contrast, IronFX is positioned at #62, indicating that despite offering similar features, Octa may provide a slightly better user experience for traders relying on their mobile devices.
| Feature |
Octa
|
IronFX
|
|---|---|---|
| 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 Octa and IronFX for their market research features, both brokers provide daily market commentary and offer forex news sourced from top-tier providers such as Bloomberg and Reuters. Octa distinguishes itself by integrating tools from Autochartist, offering advanced technical and fundamental analysis resources not available with IronFX. Conversely, IronFX supports tools from Trading Central, which Octa does not include, allowing IronFX clients access to technical analytics to aid their trading strategies.
Both brokers offer comprehensive economic calendars that detail upcoming global news events, useful for keeping traders informed. While neither provides sentiment-based trading tools or market research from TipRanks and Acuity Trading, both have earned a four-star rating for their research offerings. Octa edges slightly ahead, ranked #27 among 63 brokers by ForexBrokers.com, with IronFX close behind at #28, making them both viable choices for traders seeking access to reliable market insights.
| Feature |
Octa
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | 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 between online brokers Octa and IronFX, both platforms provide a solid foundation. Each offers a minimum of 10 educational pieces focusing on forex and CFDs, which include articles, videos, and archived webinars. However, a key difference is that Octa hosts monthly online educational webinars, providing an ongoing, interactive learning opportunity that IronFX does not offer. Both brokers maintain a searchable archive of recorded webinars, giving users access to past educational content.
For beginners, both Octa and IronFX supply over 10 videos specifically designed to introduce and explain trading concepts. Yet, when advancing in complexity, only Octa provides a similar number of advanced educational videos for more experienced traders. Additionally, both brokers offer an investor dictionary with over 50 investing terms to aid in learning. Octa and IronFX each receive a 4-star rating for education, but they slightly differ in ranking, with Octa placed at #42 and IronFX at #44 among 63 brokers evaluated by ForexBrokers.com. Overall, Octa offers a slightly more comprehensive educational experience due to its advanced content and regular live webinars.
| Feature |
Octa
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 Octa is better than IronFX. Octa finished with an overall rank of #47, while IronFX finished with an overall rank of #48.
Octa offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
| Feature |
Octa
|
IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 72 | 83 |
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Both Octa and IronFX do not offer the ability to buy actual delivered cryptocurrency but provide options for trading cryptocurrency derivatives.
Both Octa and IronFX do not support ACH or SEPA transfers or PayPal for deposits and withdrawals, but they offer Skrill, Visa or Mastercard, and bank wire options for these transactions.
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 | IronFX | |
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| Trust Score | 72 | 83 | |
| Winner | check_circle | ||
| Review | Octa Review |
| Broker Screenshots | Octa | IronFX | |
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| Regulation | Octa | IronFX | |
|---|---|---|---|
| Trust Score | 72 | 83 | |
| Year Founded | 2011 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Octa | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 300 | 340 | |
| Forex Pairs (Total) | 35 | 83 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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 | Octa | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.9 | 1.2 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Octa | IronFX | |
|---|---|---|---|
| Minimum Deposit | $25 | $50 | |
| PayPal (Deposit/Withdraw) | No | 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 | Octa | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Octa | IronFX | |
|---|---|---|---|
| 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 | Octa | IronFX | |
|---|---|---|---|
| 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 | Octa | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Octa | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Octa | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
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| Trust Score | 72 | 83 | |
| Winner | check_circle | ||
| Review | Octa Review |
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