ForexBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure

OANDA vs OctaFX 2020

Is OANDA better than OctaFX? After testing 30 of the best forex brokers over five months, OANDA is better than OctaFX. As a trusted global brand, OANDA provides forex and CFD traders a limited offering of FX pairs and CFDs but stands out for its reputation and quality market research.



CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature OANDA OctaFX
Overall 4 3
Commissions & Fees 4 3.5
Offering of Investments 3.5 2.5
Platforms & Tools 3.5 3.5
Mobile Trading 4 3.5
Research 4.5 3
Education 3.5 3
Trust Score 89 63
73.5% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money
OANDA Review OctaFX Review
Winner check_circle

Regulation

Feature OANDA OctaFX
Trust Score 89 63
Year Founded
1996 2011
Publicly Traded (Listed)
No No
Bank
No No
Tier-1 Licenses
6 0
Tier-2 Licenses
0 1
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature OANDA OctaFX
ASIC Authorised (Australia)
Yes No
IIROC Authorised (Canada)
Yes No
SFC Authorised (Hong Kong)
No No
FSA Authorised (Japan)
Yes No
MAS Authorised (Singapore)
Yes No
FINMA Authorised (Switzerland)
No No
FCA Authorised (UK)
Yes No
CFTC Registered (USA)
Yes No

Investments

Feature OANDA OctaFX
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
70 28
CFDs - Total Offered
55 17
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes Yes

Cost

Feature OANDA OctaFX
Average Spread EUR/USD - Standard
1.4 (August 2020) 1.1 (July 2020)
All-in Cost EUR/USD - Active
1.4 (August 2020)) 1.0 (July 2020)
Active Trader or VIP Discounts
Yes No

Funding

Feature OANDA OctaFX
Minimum Initial Deposit
$0.00 $5
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
Yes No
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

Feature OANDA OctaFX
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 Yes

Trading Tools

Feature OANDA OctaFX
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
7 (Default MetaTrader/cTrader)
Charting - Indicators / Studies (Total)
81 (Default MetaTrader/cTrader)
Charting - Drawing Tools (Total)
431 (Default MetaTrader/cTrader)
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes

Mobile Trading

Feature OANDA OctaFX
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes No
Watch List
Yes No
Watch List Syncing
No No
Charting - Indicators / Studies
33 (Default MetaTrader/cTrader)
Charting - Draw Trendlines
Yes No
Charting - Trendlines Moveable
Yes No
Charting - Multiple Time Frames
Yes No
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes Yes

Research

Feature OANDA OctaFX
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes Yes
AutoChartist
Yes Yes
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes No
Economic Calendar
Yes Yes

Education

Feature OANDA OctaFX
Has Education - Forex
Yes Yes
Has Education - CFDs
No No
Client Webinars
Yes Yes
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

Feature OANDA OctaFX
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

Overall

Feature OANDA OctaFX
Overall 4 3
Commissions & Fees 4 3.5
Offering of Investments 3.5 2.5
Platforms & Tools 3.5 3.5
Mobile Trading 4 3.5
Research 4.5 3
Education 3.5 3
Trust Score 89 63
OANDA Review OctaFX Review
Winner check_circle

Comparing forex brokers side by side is no easy task. For our 2020 annual forex broker review, we spent hundreds of hours assessing 30 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, OANDA 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 20 international regulator databases. Here's our findings. OANDA holds 6 global Tier-1 licenses, while OctaFX holds 0. OctaFX holds 1 global Tier-2 licenses, while OANDA holds 0. All regulators considered, OANDA has a Trust Score of 89.00, while OctaFX's Trust Score is 63.00.

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. OANDA and OctaFX both offer copy trading. Both OANDA and OctaFX offer MetaTrader 4 (MT4).

How many forex pairs and CFDs are available to trade?
OANDA provides traders 70 currency pairs (e.g., EUR/USD) compared to OctaFX's 28 available pairs. Forex pairs aside, OANDA offers traders access to 55 CFDs while OctaFX has 17 available CFDs, a difference of 38.

Overall, between OANDA and OctaFX, OANDA is the better forex broker.

OANDA Review
OctaFX Review

Related Comparisons

Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

The names, products, services, branding/logos, and other trademarks or images featured or cited within this Website (www.forexbrokers.com) are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with ForexBrokers.com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses ForexBrokers.com or any of its reviews, products, or services. ForexBrokers.com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.

OANDA - CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

arrow_drop_upBack to top