Compare OctaFx vs BlackBull Markets
What is OctaFx? What is BlackBull Markets ?
OctaFX is a forex and CFD broker that offers commission-free trading on MT4 and MT5 platforms with tight floating spreads. Users can also benefit from a proprietary copy trading service, bonuses and contests, and Islamic accounts. OctaFX is regulated by SVGFSA and CySEC.
BlackBull Markets is an award-winning forex and CFD broker that offers trading on MT4 and MT5 platforms with spreads from 0.01 pips and high leverage up to 1:500. Users can also access 24/7 customer support, educational content, and Islamic accounts. BlackBull Markets is regulated by FMA and FSA.
OctaFx vs BlackBull Markets Regulation Comparison
Both brokers have one Tier-1 license from a reputable regulator, which indicates a high level of trustworthiness. OctaFX is licensed by CySEC in Cyprus, while BlackBull Markets is licensed by FMA in New Zealand. Both brokers also have one Tier-2 license from a less strict regulator: OctaFX from FSCA in South Africa, and BlackBull Markets from FSA in Seychelles.
| Broker | Tier-1 Licenses | Tier-2 Licenses |
|---|---|---|
| OctaFX | CySEC | FSCA |
| BlackBull Markets | FMA | FSA |
OctaFx vs BlackBull Markets Trading Assets Comparison
OctaFX offers a smaller range of trading assets than BlackBull Markets, with only 229 instruments available compared to 26000 at BlackBull Markets. However, OctaFX has more forex pairs (40 vs 72) and also offers U.S. and international stock trading (non-CFD), which BlackBull Markets does not. Both brokers offer CFDs on indices, commodities, cryptocurrencies, metals, and energies.
| Broker | Forex Pairs | CFDs | Stocks (Non-CFD) |
|---|---|---|---|
| OctaFX | 40 | 229 | Yes |
| BlackBull Markets | 72 | 26000 | No |
OctaFx vs BlackBull Markets Trading Fees Comparison
Both brokers offer commission-free trading on their standard accounts, but charge commissions on their ECN accounts. OctaFX has variable spreads that start from 0.4 pips on its standard account and zero pips on its ECN account, while BlackBull Markets has fixed spreads that start from 0.8 pips on its standard account and variable spreads that start from 0.01 pips on its ECN account. Both brokers also charge swap fees for holding positions overnight, but offer swap-free Islamic accounts for eligible traders.
| Broker | Standard Account Spreads | ECN Account Spreads | ECN Account Commissions |
|---|---|---|---|
| OctaFX | Variable from 0.4 pips | Zero pips | $3 per lot per side |
| BlackBull Markets | Fixed from 0.8 pips | Variable from 0.01 pips | $6 per lot round turn |
OctaFx vs BlackBull Markets Account Types Comparison
Both brokers offer three types of accounts: standard, ECN, and pro. The main differences between the accounts are the spreads, commissions, leverage, minimum deposits, and execution types. OctaFX has lower minimum deposits than BlackBull Markets for all account types, except for the pro account which requires the same amount ($5000) at both brokers. OctaFX also offers higher leverage than BlackBull Markets for non-EU clients (up to 1:500 vs up to 1:200).
| Broker | Standard Account Min Deposit | ECN Account Min Deposit | Pro Account Min Deposit |
|---|---|---|---|
| OctaFX | $100 | $500 | $5000 |
| BlackBull Markets | $200 | $2000 | $5000 |
OctaFx vs BlackBull Markets Deposit Options Comparison
OctaFX has fewer payment methods than BlackBull Markets, but does not charge any deposit or withdrawal fees. BlackBull Markets offers more payment options, including Bitcoin, but charges withdrawal fees for some methods. Both brokers accept credit/debit cards, wire transfers, and e-wallets such as Skrill and Neteller.
OctaFx vs BlackBull Markets Trading Platforms Comparison
Both brokers offer the popular MetaTrader 4 and MetaTrader 5 platforms, which are compatible with desktop, web, and mobile devices. Both platforms support automated trading, custom indicators, and advanced charting tools. OctaFX also offers a proprietary copy trading platform and mobile app, which allows users to follow and copy the trades of successful traders.
| Broker | Trading Platforms |
|---|---|
| OctaFX | MT4, MT5, OctaFX Copy Trading |
| BlackBull Markets | MT4, MT5 |
OctaFx vs BlackBull Markets Analytical Tools Comparison
Both brokers provide some analytical tools to help traders make informed decisions. OctaFX offers Autochartist, a market scanner that identifies trading opportunities based on technical analysis and volatility. BlackBull Markets offers TradingView, a web-based platform that provides live market data, charts, indicators, and social trading features.
| Broker | Analytical Tools |
|---|---|
| OctaFX | Autochartist |
| BlackBull Markets | TradingView |
OctaFx vs BlackBull Markets . Which forex broker is better? Which forex broker should you choose?
The best forex broker for you depends on your personal preferences, trading style, goals and risk appetite. You should consider various factors like regulation, fees, assets, platforms, tools, education and customer service when choosing a broker. You should also test brokers with a demo account before opening a real account. In the end, you are the one who has to decide which broker suits you best.
