Written by ForexBrokers.com
In this head to head comparison of Octa vs TopFX, 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.
Octa and TopFX, two online brokers, offer services for those interested in trading, but they have different credentials that may influence a trader's choice. Founded in 2011, Octa is not publicly traded and is not a bank. It holds 1 Tier-1 license and 1 Tier-2 license, which gives it a ForexBrokers.com Trust Score of 72. This places Octa in the average risk category according to ForexBrokers.com's criteria.
On the other hand, TopFX, established in 2010, is similarly neither publicly traded nor a bank. However, it holds just 1 Tier-1 license and no Tier-2 licenses, resulting in a slightly lower Trust Score of 67. Based on ForexBrokers.com ratings, this makes TopFX a higher-risk choice compared to Octa. Therefore, while both companies have their strengths, Octa's additional licensing provides a greater level of trust and security to its users over TopFX.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| Year Founded | 2011 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of Octa and TopFX, both brokers secure a spot in the competitive landscape with a 4-star rating. Octa, having improved its pricing significantly, now challenges other low-cost MetaTrader brokers. This platform eliminates slippage on 97.5% of its orders and avoids overnight carry costs, making it appealing to many traders, though its strict policies may not favor high-frequency trading. Octa's fees depend on the account type and regulatory entity, with European clients accessing only the MT5 platform. Spread pricing also varies, with the EUR/USD pair averaging 0.5 pips for EU clients and 0.9 pips for international clients.
TopFX also offers a compelling choice with two account types. The spread-only ZERO account charges no commission but averages a spread of 1.03 pips for the EUR/USD. Meanwhile, their RAW account incurs a commission of 2.75 EUR per side, equating to 5.50 per round-turn standard lot, with an average spread of 0.33 pips for Jul 2024. The combined cost for using the RAW account is approximately 0.88 pips, aligning well with the industry average. TopFX ranks 40th out of 63 brokers in the Commissions and Fees category by ForexBrokers.com.
Overall, while Octa ranks higher at 29th place for commissions and fees, TopFX provides competitive alternatives depending on your trading preferences, whether you prioritize lower spreads or commission-free structures. Both brokers maintain a commendable 4-star rating, offering investors a good balance between cost-effectiveness and service quality.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| Minimum Deposit | $25 | Depends on payment method |
| Average Spread EUR/USD - Standard | 0.9 | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| 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 the available range of investments at Octa and TopFX, both platforms provide access to forex trading as CFDs or spot contracts. However, there is a notable difference in the number of tradeable symbols and forex pairs they offer. Octa provides 300 tradeable symbols and 35 forex pairs, while TopFX offers a more extensive selection with 655 tradeable symbols and 60 forex pairs. Despite differences in offerings, both brokers do not provide clients with the option to buy exchange-traded securities from U.S. markets, like Apple shares, or the ability to buy actual cryptocurrencies. Nevertheless, each allows for trading in cryptocurrency derivatives and copy trading options.
Regarding investments in international securities, Octa gives its clients the ability to buy into international exchanges, such as Vodafone shares on the London Stock Exchange, which TopFX does not offer. In terms of ratings, both brokers are equally rated at 3.5 stars for their range of investments. However, according to ForexBrokers.com, TopFX is ranked slightly higher at #46, compared to Octa's ranking at #52 among 63 evaluated brokers. This suggests that while both platforms are competitive, TopFX provides a broader range of investment opportunities, giving it a slight edge in the market.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 300 | 655 |
| Forex Pairs (Total) | 35 | 60 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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.
When comparing the trading platforms and tools offered by Octa and TopFX, both brokers provide traders with a comprehensive suite of features designed to enhance their trading experiences. Both Octa and TopFX excel in offering simulated trading through free demo accounts, allowing users to practice without financial risk. While both brokers support popular platforms like MetaTrader 4 (MT4), Octa goes a step further by also offering MetaTrader 5 (MT5), providing access to advanced trading functionalities. Additionally, Octa has the unique advantage of a proprietary platform developed in-house, which is absent at TopFX. Both brokers enable desktop and web-based trading, support copy trading, and do not offer DupliTrade or ZuluTrade. Notably, both brokers furnish traders with 15 drawing tools for charting and the capability to trade directly from stock charts.
In terms of customization, Octa and TopFX offer watch lists with seven columns, allowing traders to tailor their interfaces to their preferences. Rated four stars out of five for trading platforms and tools, both brokers show a commendable performance in this category. However, ForexBrokers.com ranks Octa higher at #37 compared to TopFX at #45 out of 63 brokers, indicating a slight edge for Octa in user preference. Overall, both Octa and TopFX provide substantial resources for traders, with Octa holding a minor advantage due to its proprietary technologies and broader platform support.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| 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 | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Octa and TopFX, both brokers provide solutions for iPhone and Android users, ensuring compatibility for a wide range of devices. They both enables users to set up stock or forex price alerts and offer robust charting capabilities with 30 technical studies each. Traders using these apps can draw trendlines and view multiple time frames on charts, which enhances the trading experience. Additionally, both apps save drawings on charts automatically and offer the ability to create watchlists with real-time quotes, though they lack watchlist symbol syncing with online accounts.
In terms of user ratings, Octa and TopFX both earn a commendable 4-star rating for their mobile trading apps. However, Octa ranks slightly higher at #36 compared to TopFX's ranking of #51 out of 63 brokers in the Mobile Trading Apps category by ForexBrokers.com. While both brokers offer similar features and functionality in their mobile apps, Octa's higher ranking might suggest a marginal edge in user experience or satisfaction.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 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 Octa and TopFX in terms of market research offerings, there are several key differences to consider. Octa stands out by providing daily market commentary, a feature not available with TopFX. Both brokers deliver forex news from prestigious sources like Bloomberg, Reuters, and Dow Jones, ensuring their clients have access to vital market updates. In terms of tools, each broker offers Autochartist's technical analysis capabilities. However, TopFX has a significant advantage with access to Trading Central's tools, which Octa does not offer. Furthermore, TopFX provides a sentiment-based trading tool that helps traders understand market positions, whereas Octa lacks this feature.
Both Octa and TopFX offer comprehensive economic calendars for tracking global financial events, yet neither broker includes research tools from TipRanks or Acuity Trading. For overall research capabilities, Octa receives a higher rating of four stars compared to TopFX's three stars. According to rankings by ForexBrokers.com, Octa emerges as the stronger option in the research category, holding the 27th position out of 63 brokers, while TopFX lags behind at the 60th spot. These distinctions highlight Octa's broader research offerings and higher industry recognition compared to TopFX.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources offered by Octa and TopFX for beginners, Octa clearly provides a richer selection. Octa offers a comprehensive suite of educational materials, including more than 10 articles and videos focused on forex and CFDs, ensuring that newcomers receive a thorough introduction. In contrast, TopFX does not meet this basic standard. Octa further enhances its educational offerings with monthly webinars for clients, a searchable archive of past webinar recordings, and a dictionary that explains over 50 investing terms. TopFX, unfortunately, lacks these features, which can be crucial for beginners seeking a structured learning path.
In terms of video content, Octa shines by providing over 10 beginner and advanced trading videos, catering to the needs of both rookies and seasoned traders. TopFX falls short in this area, leaving potential learners without this valuable resource. Reflecting these differences, Octa earns a 4-star rating for its education offerings, placing it at #42 out of 63 brokers in the Education category according to ForexBrokers.com. Meanwhile, TopFX receives a 3-star rating and ranks at a lesser #61. If educational support is a priority, Octa appears to be the more beneficial choice for beginners in trading.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Octa is better than TopFX. Octa finished with an overall rank of #47, while TopFX finished with an overall rank of #62.
Octa offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
| Feature |
Octa
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 72 | 67 |
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Both online brokers, Octa and TopFX, do not offer the option to buy actual delivered cryptocurrencies, but they both provide the ability to trade cryptocurrency derivatives.
When comparing the online brokers Octa and TopFX in terms of account fund deposit and withdrawal options, both lack support for ACH or SEPA transfers, Octa doesn't support PayPal while TopFX does, both offer Skrill, Visa, and Mastercard options, and bank wires are available with both brokers.
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 | Octa | TopFX | |
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| Trust Score | 72 | 67 | |
| Winner | check_circle | ||
| Review | Octa Review | TopFX Review |
| Broker Screenshots | Octa | TopFX | |
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| Regulation | Octa | TopFX | |
|---|---|---|---|
| Trust Score | 72 | 67 | |
| Year Founded | 2011 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 1 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Octa | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | 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) | Octa | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Octa | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 300 | 655 | |
| Forex Pairs (Total) | 35 | 60 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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 | Octa | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.9 | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Octa | TopFX | |
|---|---|---|---|
| Minimum Deposit | $25 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| 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 | Octa | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Octa | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 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 | Octa | TopFX | |
|---|---|---|---|
| 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 | 30 | 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 | Octa | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Octa | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Octa | TopFX | |
|---|---|---|---|
| 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 | TopFX Review |
| Overall | Octa | TopFX | |
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| Trust Score | 72 | 67 | |
| Winner | check_circle | ||
| Review | Octa Review | TopFX Review |
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