OctaFX vs iFOREX | Which is best 2024 (2024)

Review

4.1

Review

1.5

Traders from US not accepted

See available CFD brokers

Cons

No stock trading
Few payment methods
Zero pip spreads unavailable
The global entity is regulated offshore

Awards

Most Secure Broker Indonesia 2022- International Business Magazine
Best Global Broker Asia 2022- International Business Magazine
Best Forex Broker Pakistan 2022- Global Brands
Best Forex Broker India 2022- World Finance
Best Mobile Trading Platform 2022- FXDailyInfo
Best In Class For Social Copy Trading 2022- Forexbrokers.com
Best Trading Conditions Asia 2021- World Business Outlook

Instruments Forex, CFDs, indices, commodities, cryptocurrencies Forex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs Demo Account Yes Yes Minimum Deposit $100 $100 Trading Platforms

MT4
MT5
AutoChartist

Payment Methods

Credit Card
Debit Card
FasaPay
Mastercard
Neteller
Skrill
Visa
Wire Transfer

Cashu
Diners Club
GlobePay
Neteller
PayPal
Skrill

Minimum Trade 0.01 Lots 0.01 Lots Regulator SVGFSA, CySEC CySEC, FCA, BVI Margin Trading Yes No STP Account No No ECN Account Yes No DMA Account No No MAM Account No No PAMM Account No No LAMM Account No No Demat Account No No AI / Machine Learning No No Robo Advisor No No Negative Balance Protection Yes No Market Maker No No P2P Trading No No Spot Trading Yes No Mobile Apps Yes (iOS & Android) Yes App Review

OctaFX offers a user-friendly trading platform that can be used to take positions on major and minor currency pairs. Copy trading is also available via the broker’s in-house mobile application.

Android App Rating

4.3

iOS App Rating

4.5

Auto Trading Yes Copy Trading Yes No Copy Trading Platform Copy trading at OctaFX is offered through a proprietary platform and mobile app, as well as integration via the MetaTrader suites. Users can easily diversify portfolios by copying the most profitable traders. Track professionals and their performance live for smart investing, control your portfolio and view how your funds are invested and manage risks in real time. Social Trading Yes No Trade Signals Yes (EAs) Yes VPS Hosting Yes No Tournaments No No Demo Competitions Yes No Ethical Investing No No Custodial Account No No Guaranteed Stop Loss No No Inactivity Fee $0 Islamic Account Yes Yes Account Currencies

Stock Exchanges

Dow Jones
FTSE UK Index
Nasdaq

Commodities

Gasoline
Gold
Natural Gas
Oil
Silver

Gold

CFD Trading OctaFX offers leveraged CFDs on popular asset classes spanning forex, indices, commodities and cryptos. Traders benefit from ultra-fast execution speeds, reliable trading tools and zero commissions. There are also no restrictions on strategies, including hedging, scalping and automated trading. iFOREX offers hundreds of CFDs on FX, indices, shares, commodities, and cryptocurrencies Leverage 1:30 (EU), 1:500 (Global) 1:30 FTSE Spread 1.8 2.4 GBPUSD Spread 1.1 2.8 Oil Spread 0.7 5.4 pips Stocks Spread Variable Variable Forex Trading OctaFX offers leveraged trading on dozens of currencies with competitive spreads that average 0.9 pips on the EUR/USD. Clients also benefit from high-quality research from the team's analysts with insights into forex trends and news events, alongside technical analysis. iFOREX offers trading on approaching 100 currencies from around the world Forex App

OctaFX offers a user-friendly trading platform that can be used to take positions on major and minor currency pairs. Copy trading is also available via the broker’s in-house mobile application.

GBPUSD Spread 1.1 1.8 EURUSD Spread 0.7 1.8 EURGBP Spread 2.1 2.8 Assets 35 90 Cryptocurrency Trade 30+ popular digital currencies paired with the USD, including big tokens like Bitcoin and Ethereum. EU traders can access 1:2 leverage while global traders can access rates of up to 1:25 on major tokens. Cryptos can be traded around the clock, including on weekends. iFOREX offers trading on popular cryptocurrency coins Spread Variable Variable Coins

BTC
LTC
ETH
ZEC
SOL
ADA
DOT
ATOM
LINK
AVAX
BTB
MANA
MATIC
NEAR
IOTA
DOGE
DASH
ALGO
AAVE

BTC
LTC
ETH
XRP
EOS
XMR
DASH

Crypto Lending No No Crypto Mining No No Crypto Staking No No Auto Market Maker No No

Review

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OctaFX vs iFOREX | Which is best 2024 (2024)

FAQs

Which is better than OctaFX? ›

Best Broker Alternatives for OctaFX

Interactive Brokers - 9.9/10 Overall. Saxo - 9.7/10 Overall. CMC Markets - 9.6/10 Overall. FOREX.com - 9.4/10 Overall.

Read On ›

Which is better, XM or OctaFX? ›

Both OctaFX and XM are reputable brokers that offer a range of account types, payment methods, educational materials, and customer support. If you prefer CFD trading and social trading, OctaFX is a good choice, while XM is a better choice if you prefer short-term investing and scalping.

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Is Octa FX a good broker? ›

Expert Reviewer Verdict. Octa is best suited for both beginner and intermediate traders due to its easy-to-use platform, educational resources, and low minimum deposit requirement. The broker provides comprehensive trading tools and features that traders can leverage to optimize their trading strategies.

How risky is OctaFX? ›

Is Octa Safe? Octa is considered Average Risk, with an overall Trust Score of 70 out of 99. Octa is not publicly traded and does not operate a bank. Octa is authorised by one Tier-1 regulator (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk).

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Is OctaFX trading banned? ›

The OctaFx trading app and its website have not been authorized by RBI to deal in forex trading. According to ED probe, OctaFx India, OctaFx and their entities have cheated investors in the guise of forex trading thereby earning a profit of more than Rs1,000 crore from Indian region.

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Is OctaFx certified? ›

The OctaFx online trading app and website are operating in India in association with India-based entity M/s OctaFx India Private Limited. According to the ED, the app and its website have not been authorised by the RBI to deal in forex trading.

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What is the minimum deposit for OctaFx? ›

Make your first deposit: the minimum investment size is about 25 USD depending on the payment method you are using.

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Why XM is the best broker? ›

The broker's transparent fees and varied account types offer flexibility to orders. While industry-standard fees include overnight funding and currency conversion, the inactivity fee may concern less active traders. Overall, XM's user-friendly fee structure and competitive spreads make it attractive to traders.

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Is OctaFX fake or real? ›

OctaFX is not a scam.

Which country owns OctaFX? ›

(OctaFX) is registered in Saint Lucia under business reg. number 2023-00092. OCTA activity is supervised by the authorities of Saint Lucia. Octa Markets Cyprus Ltd. is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 372/18.

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Which forex is best today? ›

The EUR / USD is actually the best currency to trade, its the most liquid and cheap to trade and most of the moves are quite logical in a way, the EURUSD currency pair often has a negative correlation with USD / CHF and a positive correlation with GBP / USD.

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Is FBS better than OctaFX? ›

OctaFX offers only variable spreads, with spreads starting from 0.8 pips on forex. FBS charges a commission of $6 per lot for ECN accounts, while OctaFX does not charge commissions. Overall, OctaFX offers more competitive spreads than FBS.

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Is HotForex better than OctaFX? ›

In our analysis of 23 international regulators across 62 of the best forex brokers, HotForex is considered Trusted, with an overall Trust Score of 86 out of 99. Octa is considered Average-Risk, with an overall Trust Score of 70 out of 99. Learn more about Trust Score.

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How authentic is OctaFX? ›

However, as mentioned earlier, OctaFX is regulated by the SVG FSA, which is a reputable international financial regulator. Additionally, the broker has been operating since 2011 and has gained a significant number of clients globally, indicating its reliability and trustworthiness as a forex broker.

What is the difference between Exness and octa? ›

Typical Spreads and Fees

Costs improve to a commission-free spread of 0.6 pips or $6, but Exness asks for a deposit of $3,000. Octa presents the same 0.6 pips mark-up, but it is available for all traders.