Written by ForexBrokers.com
In this head to head comparison of Plus500 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.
Plus500 and Octa are prominent online brokers, each with unique offerings and backgrounds. Founded in 2008, Plus500 is publicly traded and considered highly trusted, boasting a perfect Trust Score of 99 according to ForexBrokers.com. It is backed by 6 Tier-1 licenses and 3 Tier-2 licenses, which align with industry standards for high levels of trust and security. Despite not being a bank, Plus500 provides a reputable platform for traders seeking peace of mind concerning regulation.
On the other hand, Octa, established in 2011, is a private company with a Trust Score of 72, indicating an average risk level as per ForexBrokers.com ratings. Octa holds one Tier-1 and one Tier-2 license, reflecting its commitment to maintaining credibility in the trading market. Like Plus500, Octa is not a bank, but its lower number of licenses suggests a more moderate trust level compared to its counterpart. Users can weigh these regulatory factors to make informed decisions when selecting a broker.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Year Founded | 2008 | 2011 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 1 |
| Tier-2 Licenses | 3 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing the commissions and fees of Plus500 and Octa, it's clear that these brokers offer distinct pricing structures. Plus500's pricing slightly exceeds the industry average, particularly in active trader pricing when compared to brokers like IG or Saxo. While there are no retail discounts available at Plus500, Professional clients may qualify for cash rebates, similar to an active trader program. Notably, Plus500's EUR/USD spreads averaged 1.5 pips in April 2024, which is higher than the industry standard. Ultimately, Plus500 boasts a commission and fees rating of 4.0 stars, ranking 23rd out of 63 brokers according to ForexBrokers.com.
On the other hand, Octa has made significant strides in improving its pricing, closing the gap with some of the lowest-cost MetaTrader brokers. One of Octa's standout features is its no slippage on 97.5% of executed orders and the absence of overnight carry costs; however, potential limitations exist for high-frequency traders. Pricing at Octa depends heavily on the account type and regulatory entity, with European clients using the EU entity and international clients having options in South Africa or Mwali. The average spread for EUR/USD at Octa's EU entity is 0.5 pips, while foreign entities offer 0.9 pips. Despite the absence of a date range for spread data, Octa achieves competitive pricing and earns a commission and fees rating of 4 stars, holding the 29th position among 63 brokers.
Both brokers, Plus500 and Octa, offer various benefits and limitations in their commission and fee structures. Plus500 provides a consistent offering with the possibility of cash rebates for Professional clients, while Octa pushes towards competitivity with low-cost MetaTrader brokers and efficiency in execution operations. When choosing between these two, it's worth considering the specific advantages each brings and how their pricing aligns with your trading strategy.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Minimum Deposit | €50 | $25 |
| Average Spread EUR/USD - Standard | 1.3 | 0.9 |
| All-in Cost EUR/USD - Active | 1.3 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | 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 comparing Plus500 and Octa, the range of investments each offers is a key differentiator. Plus500 provides an impressive 5,500 tradeable symbols, overshadowing Octa's 300. In the forex market, Plus500 lists 65 pairs, while Octa offers 35, allowing Plus500 clients a broader selection for currency trading. Moreover, Plus500 extends the opportunity to trade exchange-traded securities on U.S. exchanges, giving clients the flexibility to purchase renowned stocks like Apple. Such offerings aren't available with Octa. Nevertheless, both brokers facilitate the trading of international exchange-traded securities and cryptocurrency derivatives, but neither offers the option to buy actual cryptocurrencies.
Furthermore, Plus500's performance in the Range of Investments category is underscored by their 4.5-star rating, ranking 21st out of 63 brokers according to ForexBrokers.com. In contrast, Octa received a 3.5-star rating and is placed 52nd in the same category. However, Octa does stand out by providing copy trading, an option not available with Plus500, which might appeal to those who prefer mimicking experienced traders. Both brokers present unique advantages, with Plus500 emphasizing variety and breadth in investment options and Octa offering specialized services like copy trading for strategic investment approaches.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 300 |
| Forex Pairs (Total) | 65 | 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) | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | 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.
Both Plus500 and Octa equip traders with virtual demo accounts, making them welcoming for beginners seeking to hone their skills without financial risk. Plus500 shines with its intuitive web-based platform developed in-house, though it lacks a Windows desktop version. Octa offers its proprietary platform alongside the renowned MetaTrader 4 and 5, thus offering greater versatility for traders who rely on these popular platforms. For trading directly from charts, Octa has the edge over Plus500, catering to those who prefer fluid and immediate trading actions. Moreover, Octa provides a copy trading option, attracting traders interested in following the strategies of experienced investors, whereas Plus500 doesn't support this feature.
Plus500 and Octa both offer web-based platforms, yet differ significantly in their charting functionalities. Plus500 provides 36 drawing tools, eclipsing Octa’s 15; however, both brokers have not disclosed specifics on the number of technical indicators they support. When it comes to watch lists, Plus500 stands out with 10 available columns, giving traders more ways to tailor their setups compared to Octa's seven columns. Rated 4.5 stars for its trading platforms and tools, Plus500 is positioned at #14 among 63 brokers according to ForexBrokers.com, ahead of Octa which holds a four-star rating and sits at #37. These rankings emphasize Plus500's slightly wider appeal overall, particularly for users who prioritize charting features and a simplified trading experience.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | 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) | 115 | 30 |
| Charting - Drawing Tools (Total) | 36 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 10 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Plus500 and Octa offer mobile trading apps for iPhone and Android, allowing you to trade stocks and forex on the go. They provide real-time alerts and enable you to create watchlists with up-to-the-minute quotes. While both apps support drawing trendlines and viewing multiple time frames on charts, Plus500 stands out with 115 technical studies compared to Octa's 30. Plus500 also boasts watchlist syncing, making it seamless to track your favorites across devices, a feature Octa doesn’t offer. However, Octa's mobile app auto-saves chart drawings, whereas Plus500 does not.
When it comes to user ratings and rankings, Plus500 garners an impressive 4.5 out of 5 stars for its mobile app, while Octa has a solid 4-star rating. According to a review by ForexBrokers.com, Plus500 is ranked notably higher at #14 out of 63 brokers, compared to Octa's #36 position for mobile trading apps. Both apps have strengths, but Plus500's features and higher ranking might offer an edge for those looking for a more comprehensive mobile trading experience.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 115 | 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.
When considering Plus500 and Octa for market research resources, both platforms offer daily market commentary and access to a comprehensive economic calendar, providing essential updates on global events. However, there are distinct differences worth noting. Plus500 excels in providing sentiment-based trading tools that depict the ratio of long or short positions across various instruments, as well as research tools from Trading Central. On the other hand, Octa stands out with its offering of forex news from top-tier sources like Bloomberg and Reuters, and includes advanced technical and fundamental research tools from Autochartist. These distinct features could influence a trader's decision depending on their specific research priorities.
In terms of research ratings, Plus500 and Octa share the same score of 4.0 out of 5 stars according to ForexBrokers.com. However, Plus500 holds a slightly better position, ranked 19th among 63 brokers in the research category, while Octa is positioned at 27th. This information suggests that while both brokers have valuable offerings, Plus500 might have a slight edge for those prioritizing sentiment analysis and Trading Central resources, whereas Octa might appeal to traders looking for high-quality news sources and Autochartist tools.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Plus500 and Octa both offer strong educational resources for those new to forex and CFD trading. Both platforms provide a variety of learning materials that include at least ten articles, videos, and archived webinars focused on forex and CFDs, helping beginners grasp essential trading concepts. They each host monthly online webinars and maintain searchable archives for client convenience. Novices can also benefit from over ten beginner-focused videos on trading topics that both Plus500 and Octa offer. For traders ready for more advanced topics, each broker provides a collection of educational videos suited for experienced traders.
Where these two platforms differ is in their investor dictionaries. Octa offers a comprehensive dictionary with definitions for more than 50 investing terms, aiding those who might be confused by technical jargon. Plus500, in contrast, does not feature such a resource. Despite these differences, both brokers succeed in providing quality educational content, each receiving a 4-star rating for education. However, when ranked within the industry by ForexBrokers.com, Plus500 is placed higher at 31st out of 63, compared to Octa's position at 42nd. This suggests that while both are valuable resources for beginner traders, Plus500's educational offerings might have a slight edge.
| Feature |
Plus500
|
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) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Plus500 is better than Octa. Plus500 finished with an overall rank of #14, while Octa finished with an overall rank of #47.
Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to a thorough selection of CFDs. Share trading is available, but only via its Plus500 Invest product offering.
| Feature |
Plus500
|
Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 72 |
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Both Plus500 and Octa provide the option to buy cryptocurrency derivatives, but neither offer the ability to purchase actual (delivered) cryptocurrency.
While both Plus500 and Octa provide options for funding accounts through Skrill, Visa or Mastercard, and bank wires, Plus500 additionally supports PayPal transactions, but neither broker facilitates ACH or SEPA transfers.
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 | Plus500 | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Plus500 Review | Octa Review |
| Broker Screenshots | Plus500 | Octa | |
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| Regulation | Plus500 | Octa | |
|---|---|---|---|
| Trust Score | 99 | 72 | |
| Year Founded | 2008 | 2011 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 6 | 1 | |
| Tier-2 Licenses | 3 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Plus500 | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | 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) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Plus500 | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Plus500 | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 300 | |
| Forex Pairs (Total) | 65 | 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) | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | 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 | Plus500 | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.3 | 0.9 | |
| All-in Cost EUR/USD - Active | 1.3 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Plus500 | Octa | |
|---|---|---|---|
| Minimum Deposit | €50 | $25 | |
| PayPal (Deposit/Withdraw) | Yes | 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 | Plus500 | Octa | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | 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 | Plus500 | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 10 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 36 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Plus500 | 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 | 115 | 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 | Plus500 | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Plus500 | 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) | No | Yes |
| Major Forex Pairs | Plus500 | 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 | Plus500 Review | Octa Review |
| Overall | Plus500 | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Plus500 Review | Octa Review |
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