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.
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.
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 evaluating commissions and fees, ThinkMarkets receives a respectable four-star rating. However, there is limited data available, especially regarding average spreads, making it challenging to provide a comprehensive assessment. In terms of ranking, ThinkMarkets stands at number 48 among 62 brokers as per ForexBrokers.com, suggesting room for improvement compared to its peers.
On the other hand, Octa also boasts a four-star rating for its commissions and fees but performs better in ForexBrokers.com's ranking, securing the 29th spot. While Octa has traditionally faced pricing challenges, it has made substantial progress, particularly among low-cost MetaTrader brokers. Notably, Octa offers no slippage on 97.5% of its executed orders and no overnight carry fees, though high-frequency traders might encounter some constraints.
Octa’s pricing structure is influenced by the type of account and the regulatory entity overseeing it. European clients are served through the EU entity, which offers slightly more favorable spread rates for pairs like EUR/USD at 0.5 pips, compared to 0.9 pips for other international clients. This flexible pricing, combined with its continual improvements, positions Octa as a competitive choice for cost-conscious traders, despite needing to validate average spread data with appropriate date references.
| 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 ThinkMarkets and Octa for their range of investments, both online brokers offer opportunities in forex trading through CFDs or spot contracts. However, there is a noticeable difference in the number of tradeable symbols, with ThinkMarkets providing access to 4000 symbols, while Octa offers a more limited selection of 300. ThinkMarkets also edges ahead in available forex pairs, providing clients with 46 options compared to Octa's 35. When it comes to investments in exchange-traded securities on U.S. exchanges, neither broker offers this service, but they both allow trading of international exchange-traded securities, such as Vodafone shares on the London Stock Exchange.
For those interested in copy trading, both brokers accommodate this feature. However, neither ThinkMarkets nor Octa provides options for purchasing actual cryptocurrencies, though both offer cryptocurrency derivatives. Reflecting these offerings, ThinkMarkets holds a higher rating of 4.5 stars for its range of investments, compared to Octa's 3.5 stars. This superior range is further recognized by their rankings from ForexBrokers.com, where ThinkMarkets is placed at #21 out of 62 brokers, while Octa is ranked at #52, indicating ThinkMarkets' broader appeal for investors seeking diverse trading options.
| 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 a comprehensive suite of trading platforms and tools, catering to various trader preferences. Both brokers provide a simulated trading environment through free virtual demo accounts, allowing users to practice and refine their strategies without financial risk. Each broker has also developed its own proprietary platform, alongside the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These offerings are accessible via Windows-based desktop downloads and web-based applications, ensuring traders have flexible access to the markets. Furthermore, both brokers support copy trading, enabling users to mirror experienced traders' strategies. While neither ThinkMarkets nor Octa offers DupliTrade or ZuluTrade, they do allow trades to be executed directly from stock charts, enhancing the trading experience.
Charting capabilities form a crucial part of any trading platform, and here, ThinkMarkets and Octa show notable similarities and distinctions. They each provide 15 drawing tools for detailed chart analysis, although ThinkMarkets offers traders more comprehensive watch lists with 15 customizable columns compared to Octa's 7. This detail could be important for traders who prioritize detailed market monitoring. In terms of reliability and user satisfaction, both brokers are rated 4 out of 5 stars for their trading platforms and tools, according to reviews from ForexBrokers.com. However, ThinkMarkets edges ahead in industry ranking at #28 out of 62 brokers, compared to Octa's #37 ranking, suggesting a slight advantage in competitive position within the trading tools space.
| 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.
When it comes to mobile trading, both ThinkMarkets and Octa provide apps for iPhone and Android users, offering essential tools for trading on the go. Both apps support stock and forex price alerts, ensuring traders can stay informed about market shifts. Each platform allows drawing trendlines on charts and supports viewing multiple time frames, whether you prefer daily, weekly, or intraday perspectives. Additionally, both mobile apps automatically save drawings and let users create watchlists with real-time quotes, making it convenient to track favorite stocks or forex pairs without needing to be at a computer. However, neither app offers the ability to sync watchlist symbols between the mobile app and the online account.
Despite these similarities, ThinkMarkets sets itself apart with its charting capabilities by offering 94 technical studies, in contrast to Octa's 30. This enhanced feature may appeal to technical analysis enthusiasts looking for more in-depth charting tools. Both platforms receive a four-star rating for their mobile apps, but they differ in rankings by ForexBrokers.com, with ThinkMarkets positioned at #20, while Octa holds the #35 spot out of 62 brokers. Overall, for users who prioritize a broader set of technical studies and higher rankings, ThinkMarkets may be the preferred choice, though each platform delivers a solid mobile trading experience.
| 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 ThinkMarkets and Octa for their market research offerings, both brokers provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. However, the two platforms differ in their approach to analysis tools. Octa users benefit from Autochartist, offering technical and fundamental analysis tools, while ThinkMarkets lacks this feature. On the other hand, ThinkMarkets provides a sentiment-based trading tool that Octa does not, which displays a ratio of long or short positions across various instruments.
Additionally, ThinkMarkets stands out by offering research tools from Acuity Trading, such as Signal Centre, which are not available with Octa. Both platforms include an economic calendar to keep users updated on global news events. Despite these differences, Octa edges ahead in overall research ratings, scoring 4 stars compared to ThinkMarkets' 3.5 stars. According to ForexBrokers.com, Octa ranks #26 out of 62 brokers for research, while ThinkMarkets is positioned at #50. This comparison highlights how Octa might be more appealing to those prioritizing comprehensive research tools and a higher research rating.
| 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, both ThinkMarkets and Octa offer a solid foundation with at least ten educational pieces focusing on forex or CFDs. Beginners can benefit from regular online webinars, as each broker provides at least one educational session per month. Both also offer a searchable archive of recorded webinars, making it convenient for newcomers to access past learning materials anytime. In terms of instructional content, you'll find each broker provides a range of beginner-focused videos, bridging the initial learning curve with practical guidance on trading topics. Moreover, both platforms cater not only to beginners but also offer advanced educational videos tailored for experienced traders looking to deepen their knowledge.
In addition to videos and webinars, both ThinkMarkets and Octa feature an investor dictionary with over 50 investing terms, ensuring that newcomers can quickly get up to speed with industry jargon. While ThinkMarkets receives a 3.5-star rating for its educational offerings, Octa edges slightly ahead with a 4-star rating, highlighting a slightly better perceived educational experience among users. Looking at broader rankings, based on ForexBrokers.com's assessment, Octa is placed 42nd out of 62 brokers for education, while ThinkMarkets trails at 52nd. These ratings suggest that while both brokers offer substantial educational resources, Octa may have a slight edge in delivering these learning experiences more effectively to their audience.
| 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 62 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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