Written by ForexBrokers.com
In this head to head comparison of Saxo 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.
When comparing the online brokers Saxo and Octa, their regulatory backgrounds offer critical insights for potential investors. Saxo, founded in 1992, is recognized for its highly trusted reputation and boasts a remarkable Trust Score of 99 according to ForexBrokers.com. As a licensed bank, Saxo holds seven Tier-1 licenses, indicating high trust, alongside one Tier-2 license. On the other hand, Octa, established in 2011, carries a Trust Score of 72, reflecting an average risk level. Although Octa is not a bank, it still maintains its reliability with one Tier-1 and one Tier-2 license.
Neither Saxo nor Octa are publicly traded entities, which means they are not listed on any stock exchange. However, their regulatory credentials shed light on their trustworthiness. Saxo's significant number of Tier-1 licenses underscores its strong position in providing trusted financial services. In contrast, Octa, with one Tier-1 license, suggests a more cautious approach but still maintains a level of trust through its regulatory compliance. For investors seeking a broker with a time-tested reputation and strong regulatory framework, Saxo stands out, while Octa offers a viable option for those comfortable with a moderate level of risk.
| Feature |
Saxo
|
Octa
|
|---|---|---|
| Year Founded | 1992 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Saxo offers commendable pricing, especially for active and high-volume traders who can maintain substantial account balances. Saxo's average spread for EUR/USD is competitive, with Classic accounts at 1.1 pips, Platinum at 1.0 pips, and VIP accounts at 0.9 pips. While Classic account pricing is slightly above the industry average, Platinum and VIP accounts are more aligned with typical market rates. A key advantage of Saxo is its commission-free forex trading, although a $3 ticket fee is charged per side for traders dealing in under 50,000 units monthly. Saxo earns a high rating of 5 stars and is ranked 9th among 63 brokers by ForexBrokers.com for its commissions and fees.
Octa has significantly improved its pricing structure, positioning itself closer to the leading low-cost MetaTrader brokers. Octa excels with no slippage on 97.5% of orders and no overnight carry costs. The broker's pricing varies based on the regulatory entity; the EU entity offers a more attractive average spread of 0.5 pips for EUR/USD compared to 0.9 pips from other foreign entities. However, Octa does not specify a date range for its average spread data, making direct comparisons challenging. Despite this, Octa continues to keep pace within the competitive pricing realm, earning a solid 4-star rating and ranking 29th out of 63 brokers in the ForexBrokers.com Commissions and Fees category.
Saxo not only delivers competitive pricing but also offers incentives like security lending and exclusive VIP services for high-value clients. Octa's effort to enhance its fee structures is evident, though its lack of precise data limits comprehensive assessment. For traders focusing on low-cost trading, Saxo might present a more transparent option, whereas Octa remains a viable competitor thanks to no slippage and favorable spreads, particularly under its EU entity. Both brokers cater to different trading needs, highlighting the importance of understanding each service's structure and benefits when making a decision.
| Feature |
Saxo
|
Octa
|
|---|---|---|
| Minimum Deposit | $0 | $25 |
| Average Spread EUR/USD - Standard | 1.1 | 0.9 |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Saxo and Octa for their range of investment options, Saxo stands out with an impressive selection. Offering a staggering 70,000 tradeable symbols compared to Octa's 300, Saxo provides investors with more diverse opportunities. Both brokerages support forex trading as a CFD or spot contract, but Saxo further distances itself by providing 190 tradeable forex pairs while Octa offers 35. Additionally, Saxo allows its clients to invest in exchange-traded securities on U.S. exchanges, enabling the purchase of major stocks like Apple, a feature not available with Octa.
Both Saxo and Octa grant access to international exchanges, allowing the purchase of companies like Vodafone, and offer the ability to trade cryptocurrency derivatives, though neither supports purchasing actual cryptocurrencies. Copy trading is also available on both platforms. This breadth in investment options earns Saxo a five-star rating for its range of investments, making it the third-ranked broker by ForexBrokers.com out of 63. Meanwhile, Octa receives a 3.5-star rating, ranking 52nd, reflecting a narrower selection of investment possibilities compared to Saxo.
| Feature |
Saxo
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 300 |
| Forex Pairs (Total) | 190 | 35 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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.
Both Saxo and Octa provide traders with a comprehensive selection of tools and platforms, catering to a wide range of trading needs. Saxo and Octa both offer simulated trading environments, allowing beginners to practice their strategies with virtual demo accounts. While they each boast proprietary platforms, Saxo does not support MetaTrader 4 or 5, whereas Octa includes both MT4 and MT5, popular among many traders. For those interested in desktop applications, both brokers offer Windows-based platforms, and for online accessibility, web-based trading is available through their services. Copy trading enthusiasts will find options with both Saxo and Octa, despite neither offering third-party tools like DupliTrade or ZuluTrade. For technical analysis, Saxo provides more drawing tools, offering 20 compared to Octa's 15, and ensures a seamless trading experience directly from stock charts.
When it comes to organizing market data, Saxo leads with a highly customizable watchlist providing 60 columns compared to Octa's 7. This detailed approach extends to Saxo's rating, where it earns 5 stars for its trading platforms and tools, outranking Octa’s 4 stars. In the broader context of industry accolades, Saxo stands out in the ForexBrokers.com rankings, securing the top spot for Trading Platforms and Tools out of 63 brokers, while Octa is positioned at rank 37. Whether you prioritize a rich toolkit, diverse trading platform compatibility, or advanced charting capabilities, both platforms provide strong offerings, though Saxo leads in several key areas.
| Feature |
Saxo
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Saxo and Octa offer comprehensive mobile trading apps for iPhone and Android users. These apps support convenient trading with features like price alerts and the ability to create customized watchlists with real-time quotes. One standout feature of Saxo's app is the synchronization of watchlist symbols with their online account, a convenience not available with Octa's app. For traders who rely on technical analysis, Saxo's app provides access to 64 technical studies compared to Octa's 30, offering a broader range of options for those keen on chart insights.
When it comes to drawing features and viewing multiple timeframes on stock or forex charts, both apps meet expectations by allowing users to draw trendlines and manage their charts with ease. Additionally, each app ensures drawings are automatically saved, so traders don't lose their work. In terms of user satisfaction, Saxo leads with a five-star rating and a #2 ranking out of 63 brokers in the Mobile Trading Apps category by ForexBrokers.com. Meanwhile, Octa follows with a solid four-star rating and a ranking of #36, reflecting a reliable but slightly less esteemed mobile trading experience compared to Saxo.
| Feature |
Saxo
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 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.
Both Saxo and Octa are committed to providing insightful market research, offering daily market commentaries and forex news from renowned sources like Bloomberg, Reuters, and Dow Jones. They each integrate the Autochartist tool for technical and fundamental analysis, but neither uses Trading Central services. While both offer economic calendars to keep traders informed of global news events, Saxo stands out with its sentiment-based trading tool that displays the ratios of long or short positions, a feature not available with Octa. Furthermore, neither broker incorporates market research tools from TipRanks or Acuity Trading.
In terms of research quality, Saxo earns a perfect 5-star rating and holds the number one rank among 63 brokers on ForexBrokers.com for its comprehensive market insights. Octa, though strong in its own right, garners a respectable 4-star rating and ranks 27th. This positions Saxo as the superior choice for traders seeking top-tier market analysis and tools to inform their investment decisions.
| Feature |
Saxo
|
Octa
|
|---|---|---|
| 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 |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing educational resources for beginners offered by Saxo and Octa, both online brokers provide a wide variety of materials to help newcomers in their trading journey. Saxo and Octa each offer at least 10 educational pieces focused on forex or CFDs in the form of articles, videos, or archived webinars. For those who appreciate live learning sessions, both brokers also host online educational webinars each month, ensuring a consistent opportunity for clients to enhance their knowledge. Additionally, both have searchable archives of past webinars, allowing learners to catch up or revisit important lessons.
For video enthusiasts, both Saxo and Octa provide an array of beginner-focused videos that cover essential trading topics. While both brokers also cater to advanced traders with over 10 specialized videos each, Saxo shines slightly brighter with a 5-star rating for education, compared to Octa's 4 stars. Saxo also includes an extensive investor dictionary, explaining over 50 investing terms, matching Octa's offerings in that area. Overall, Saxo's educational commitment is reflected in its higher ranking of #13 out of 63 brokers on ForexBrokers.com, whereas Octa is ranked at #42. This ranked distinction may guide learners seeking comprehensive educational support during their initial steps in trading.
| Feature |
Saxo
|
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) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Saxo is better than Octa. Saxo finished with an overall rank of #3, while Octa finished with an overall rank of #47.
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
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Octa
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 72 |
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When comparing Saxo and Octa, neither platform offers the ability to buy actual (delivered) cryptocurrency, but both provide options to trade cryptocurrency derivatives.
When comparing online brokers Saxo and Octa, neither offers ACH or SEPA transfers, PayPal is not available with either, but Octa provides Skrill as an option while Saxo does not; both brokers support Visa and Mastercard, as well as bank wire transactions for depositing or withdrawing account funds.
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 | Saxo | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Saxo Review | Octa Review |
| Broker Screenshots | Saxo | Octa | |
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| Regulation | Saxo | Octa | |
|---|---|---|---|
| Trust Score | 99 | 72 | |
| Year Founded | 1992 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| 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) | Saxo | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 300 | |
| Forex Pairs (Total) | 190 | 35 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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 | Saxo | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | Octa | |
|---|---|---|---|
| Minimum Deposit | $0 | $25 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Saxo | Octa | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | 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 | 64 | 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 | Saxo | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | 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) | Yes | Yes |
| Major Forex Pairs | Saxo | 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 | Saxo Review | Octa Review |
| Overall | Saxo | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Saxo Review | Octa Review |
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