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OANDA vs OctaFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is OANDA better than OctaFX? In our analysis of 23 international regulators across 62 of the best forex brokers, OANDA is considered low-risk, with an overall Trust Score of 92 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

0 of 5
Overall RatingOANDAOctaFX
Overall Rating 4.5/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 3.5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score 92 69
Winner check_circle
Review OANDA Review OctaFX Review
Broker ScreenshotsOANDAOctaFX
Trading Platforms Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Gallery (click to expand)
Education Gallery (click to expand)
RegulationOANDAOctaFX
Trust Score 92 69
Year Founded 1996 2011
Publicly Traded (Listed) No No
Bank No No
European Union Authorised (MiFID) Yes info Yes info
Tier-1 Licenses 6 0
Tier-2 Licenses 0 2
Tier-3 Licenses 1 0
Tier-1 Licenses (High Trust)OANDAOctaFX
Australia (ASIC Authorised) Yes No
Canada (SRO Authorised) Yes No
Hong Kong (SFC Authorised) No No
CBI Authorised (Ireland) No No
Japan (SFC Authorised) Yes No
Singapore (MAS Authorised) Yes No
Switzerland (FINMA Authorised) No No
United Kingdom (U.K.) (FCA Authorised) Yes No
USA (CFTC Authorized) Yes No
New Zealand (FMA Authorised) No No
Tier-2 Licenses (Average Trust)OANDAOctaFX
China (CBRC Authorised) No No
Cyprus (CySEC Authorised) No Yes
India (SEBI Authorised) No No
Israel (ISA Authorised) No No
Russia (CBR Authorised) No No
South Africa (FSCA Authorised) No Yes
Thailand (SEC Authorised) No No
UAE (DFSA/Central Bank Authorised) No No
Tier-3 Licenses (Low Trust)OANDAOctaFX
Bahamas (SCB Authorised) No No
Belize (FSC Authorised) No No
Cayman Islands (CIMA Authorised) No No
Bermuda (BMA Authorised) No No
British Virgin Islands (FSC Authorised) Yes No
Mauritius (FSC Authorised) No No
Vanuatu (VFSC Authorised) No No
InvestmentsOANDAOctaFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 124 229
Forex Pairs (Total) 71 40
U.S. Stock Trading (Non CFD) No No
Int'l Stock Trading (Non CFD) No No
Social Trading / Copy Trading Yes Yes
Cryptocurrency (Physical) Yes No
Cryptocurrency (CFD) 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).
CostOANDAOctaFX
Average Spread EUR/USD - Standard 1.26 info 0.9 info
All-in Cost EUR/USD - Active 1.26 info N/A
Active Trader or VIP Discounts Yes No
Execution: Agency Broker No Yes
Execution: Market Maker Yes Yes
FundingOANDAOctaFX
Minimum Deposit $0 $25
PayPal (Deposit/Withdraw) Yes No
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsOANDAOctaFX
Proprietary Platform Yes 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 No No
DupliTrade No No
ZuluTrade Yes No
Trading ToolsOANDAOctaFX
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 6 7
Charting - Indicators / Studies (Total) 81 30
Charting - Drawing Tools (Total) 431 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingOANDAOctaFX
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
Forex Calendar Yes Yes
ResearchOANDAOctaFX
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist Yes Yes
Trading Central (Recognia) No No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationOANDAOctaFX
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 PairsOANDAOctaFX
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 OANDA Review OctaFX Review
OverallOANDAOctaFX
Overall Rating 4.5/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Offering of Investments 3.5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score 92 69
Winner check_circle
Review OANDA Review OctaFX Review
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OANDA 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 OANDA vs OctaFX.

Does OANDA 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, OctaFX offers better pricing overall for traders.

Is OANDA 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. OANDA holds 6 global Tier-1 licenses, while OctaFX holds 0. OctaFX holds 2 global Tier-2 licenses, while OANDA holds 0. In our analysis of 23 international regulators across 50 brokers, OANDA earned a higher Trust Score than OctaFX.

Which trading platform is better: OANDA or OctaFX?

To compare the trading platforms of both OANDA and OctaFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, OANDA offers a better experience. With research, OANDA offers superior market research. Finally, we found OANDA 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. Both OANDA and OctaFX offer MetaTrader 4 (MT4).OANDA and OctaFX both offer copy trading.

How many forex pairs and CFDs are available to trade?

OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to OctaFX's 40 available pairs. Forex pairs aside, OctaFX offers traders access to 229 CFDs while OANDA has 124 available CFDs, a difference of 105.

Can I trust OANDA?

OANDA is not publicly traded and does not operate a bank. OANDA is authorised by six tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulators (low trust). OANDA is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), 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 OANDA good?

A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.

Is OctaFX good?

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

Overall winner: OANDA

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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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