Written by ForexBrokers.com
In this head to head comparison of ThinkMarkets vs Octa, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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ThinkMarkets and Octa are both reputable online brokers, each having unique strengths and regulatory backgrounds. ThinkMarkets, founded in 2010, boasts a high Trust Score of 92 according to ForexBrokers.com, categorizing it as highly trusted. This can be attributed to its five Tier-1 licenses, the most prestigious regulatory status, and two Tier-2 licenses. ThinkMarkets is not publicly traded nor a bank, but its strong regulatory compliance provides a sense of security for users.
Octa, established in 2011, holds a Trust Score of 72, placing it in the average risk category. It has one Tier-1 license and one Tier-2 license, indicating it meets trusted regulatory standards, but at a lesser degree than ThinkMarkets. Similar to its counterpart, Octa is neither publicly traded nor a bank. While Octa presents itself as a viable trading platform, potential users might consider the differences in regulatory backing as an important factor in their decision-making process.
| Feature |
ThinkMarkets
|
Octa
|
|---|---|---|
| Year Founded | 2010 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing ThinkMarkets and Octa on commissions and fees, both online brokers share a similar rating of 4 out of 5 stars. However, they differ significantly in their rankings and approach to pricing. ThinkMarkets ranks #47 out of 63 brokers in the Commissions and Fees category according to ForexBrokers.com, but specific details on average spreads aren't available for ThinkMarkets, making detailed cost comparisons challenging.
In contrast, Octa has made notable strides in improving its fee structure, and it's now increasingly competitive among low-cost MetaTrader brokers. Octa ranks higher at #29 out of 63 brokers, thanks to enhancements in pricing and a few notable features. For instance, Octa offers no slippage on 97.5% of executed orders and imposes no overnight carry costs, although there are restrictions that may affect high-frequency traders. The choice of Octa entity, influenced by geographical location, can impact the applicable fees and spreads, with its EU entity showing slightly favorable conditions for the EUR/USD pair.
Overall, while both brokers provide reliable service with competitive pricing, Octa appears to offer more detailed pricing improvements and a higher ranking in the fees category. However, customers should carefully consider their trading preferences and the specific account types offered to ensure aligning with their cost expectations.
| Feature |
ThinkMarkets
|
Octa
|
|---|---|---|
| Minimum Deposit | $50 | $25 |
| Average Spread EUR/USD - Standard | 1.1 | 0.9 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | No |
| 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 comparing online brokers, ThinkMarkets and Octa shine in different ways, especially when it comes to the variety of investments they offer. ThinkMarkets stands out with a broader selection, offering access to 4,000 tradeable symbols, which includes 46 forex pairs. In contrast, Octa provides 300 tradeable symbols, encompassing 35 forex pairs. Both brokers allow clients to trade forex through CFDs or spot contracts. Although neither offers exchange-traded securities on U.S. exchanges, investors can access international markets through both platforms. Additionally, ThinkMarkets and Octa both facilitate trading in cryptocurrency derivatives rather than actual cryptocurrencies, and they offer the option for copy trading.
In terms of ratings and rankings, ThinkMarkets holds an edge with a rating of 4.5 stars compared to Octa's 3.5 stars for their range of investments. According to ForexBrokers.com, ThinkMarkets is positioned at #22 out of 63 brokers, demonstrating its diverse offerings. In comparison, Octa ranks #52, making it a bit more limited in investment options, yet still a viable choice for those focusing on specific areas. Whether you prefer ThinkMarkets for its extensive array of options or Octa for its more concentrated selection, both platforms provide reliable services tailored to different trading needs.
| Feature |
ThinkMarkets
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4000 | 300 |
| Forex Pairs (Total) | 46 | 35 |
| U.S. Stock Trading (Non CFD) | No | 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.
ThinkMarkets and Octa both offer comprehensive trading environments, providing traders with access to virtual demo accounts to practice risk-free. Each broker hosts its own proprietary platform and supports popular systems like MetaTrader 4 and 5, available on both Windows-based desktop and web browser setups. Traders at either platform can take advantage of copy trading features, allowing them to mimic successful trading strategies. However, neither broker includes integrations with DupliTrade or ZuluTrade, potentially limiting third-party social trading options.
When it comes to charting capabilities, ThinkMarkets and Octa equip traders with 15 drawing tools each, and both allow trading directly from charts. However, ThinkMarkets takes a slight edge with 15 watch list columns compared to Octa's 7, offering more detailed monitoring options. Despite these differences, both ThinkMarkets and Octa receive a solid four-star rating for their trading platforms and tools. Yet, ThinkMarkets ranks slightly higher at #28 compared to Octa's #37 in the Trading Platforms and Tools category by ForexBrokers.com.
| Feature |
ThinkMarkets
|
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) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| 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 | 15 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both ThinkMarkets and Octa provide comprehensive mobile trading apps available for iPhone and Android users, ensuring seamless access to trading on the go. Traders using either platform can set stock or forex price alerts, create watchlists with real-time quotes, and draw trendlines on their charts. Additionally, both apps support multiple time frame views and auto-save chart drawings, allowing users to maintain a detailed analysis of their trades with ease. However, neither platform offers the ability to sync watchlist symbols between their mobile apps and desktop accounts, which might be a consideration for certain traders.
When it comes to technical charting features, ThinkMarkets excels with 94 technical studies compared to Octa's 30, providing users with a wider array of tools for market analysis. Both apps receive a solid 4-star rating for mobile trading. However, ThinkMarkets holds a higher position, ranking 20th out of 63 brokers on ForexBrokers.com for its mobile trading capabilities, while Octa comes in at 36th. These rankings suggest that while both apps are competent choices for mobile trading, ThinkMarkets offers a more feature-rich experience that could favor more technically inclined traders.
| Feature |
ThinkMarkets
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 94 | 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 the market research offerings of ThinkMarkets and Octa, both platforms provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. However, Octa edges ahead by offering technical analysis tools from Autochartist, a detail that ThinkMarkets lacks. Neither broker provides tools from Trading Central or market research from TipRanks. Yet, ThinkMarkets compensates by offering a sentiment-based trading tool that gives insights into the ratio of long or short positions, a feature Octa does not have.
While both ThinkMarkets and Octa include economic calendars to keep traders informed of global events, ThinkMarkets also delivers research tools from Acuity Trading, unlike its competitor. In terms of research quality, Octa is rated higher with four stars compared to ThinkMarkets' 3.5 stars. Reflecting on their industry standing, Octa is ranked 27th among 63 brokers for research by ForexBrokers.com, whereas ThinkMarkets finds itself positioned at 50th.
| Feature |
ThinkMarkets
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available to beginners at ThinkMarkets and Octa, both online brokers show a commitment to educating their clients with a diverse array of materials. ThinkMarkets provides a minimum of 10 educational pieces focused on forex and CFDs, including articles, videos, and archived webinars, making it a fitting choice for newcomers seeking foundational knowledge. Moreover, it hosts timely monthly webinars and offers a searchable archive of past webinars for convenient learning. ThinkMarkets also ensures that beginners have access to at least 10 starter videos on trading. They further bolster learning with 10 advanced videos for those looking to deepen their trading expertise. An investor dictionary with over 50 terms rounds out the offerings, covering the basics to more advanced concepts alike. Despite this extensive catalog, ThinkMarkets earns a 3.5-star rating in the education category, ranking #52 out of 63 brokers on ForexBrokers.com.
Meanwhile, Octa matches advanced educational offerings by ensuring more than 10 beginner-friendly trading videos and an equivalent number of advanced trading videos to help traders expand their skillset. Similar to ThinkMarkets, Octa hosts monthly webinars and provides a searchable archive of past sessions for continuous learning at one's own pace. The educational content, which includes at least 10 pieces on forex and CFDs, enriches the learning journey for beginners and experienced traders alike, reinforced by an investor dictionary defining over 50 key trading terms. Octa's commitment to comprehensive education is reflected in its higher rating of 4 stars and a more favorable ranking of #42 out of 63 brokers according to ForexBrokers.com, indicating a stronger overall reception for its educational efforts.
| Feature |
ThinkMarkets
|
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 ThinkMarkets is better than Octa. ThinkMarkets finished with an overall rank of #27, while Octa finished with an overall rank of #47.
ThinkMarkets has multiple regulatory license and offers a proprietary trading platform, as well as the entire MetaTrader suite. The broker has made progress in key areas, such as research and education, and the range of markets available, although trails behind the best brokers in these categories.
| Feature |
ThinkMarkets
|
Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 92 | 72 |
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Both ThinkMarkets and Octa do not offer the option to purchase actual delivered cryptocurrency, but each provides the ability to trade cryptocurrency derivatives.
Both ThinkMarkets and Octa do not support ACH or SEPA transfers or PayPal for deposits and withdrawals, but they do 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 | ThinkMarkets | Octa | |
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| Trust Score | 92 | 72 | |
| Winner | check_circle | ||
| Review | Octa Review |
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| Regulation | ThinkMarkets | Octa | |
|---|---|---|---|
| Trust Score | 92 | 72 | |
| Year Founded | 2010 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | ThinkMarkets | 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) | No | 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) | ThinkMarkets | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | 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 | ThinkMarkets | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4000 | 300 | |
| Forex Pairs (Total) | 46 | 35 | |
| U.S. Stock Trading (Non CFD) | No | 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 | ThinkMarkets | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 0.9 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | ThinkMarkets | Octa | |
|---|---|---|---|
| Minimum Deposit | $50 | $25 | |
| 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 | ThinkMarkets | Octa | |
|---|---|---|---|
| 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 | No | No |
| Trading Tools | ThinkMarkets | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 15 | 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 | ThinkMarkets | Octa | |
|---|---|---|---|
| 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 | 94 | 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 | ThinkMarkets | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | ThinkMarkets | 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 | ThinkMarkets | 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 | Octa Review |
| Overall | ThinkMarkets | Octa | |
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| Trust Score | 92 | 72 | |
| Winner | check_circle | ||
| Review | Octa Review |
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