Compare OctaFx vs Forex.com
What is OctaFx? What is Forex.com ?
OctaFx is a forex broker that was established in 2011 and is regulated by CySEC and FSA. It offers trading on various instruments, such as forex, indexes, crypto and energies, with variable spreads and leverage up to 1:500. It also provides various payment methods, including crypto, credit/debit cards, Neteller and Skrill. OctaFx supports trading platforms such as MetaTrader 4 and MetaTrader 5, and offers bonuses, contests, webinars and education for its clients.
Forex.com is a forex broker that was established in 1999 and is regulated by several authorities, such as CFTC/NFA, FCA, FSA, IIROC and more. It offers trading on various instruments, such as forex, CFDs, crypto and more, with variable spreads and leverage up to 1:200. It also provides various payment methods, including wire transfer, credit/debit cards and SOFORT. Forex.com supports trading platforms such as MetaTrader 4, DealBook 360, FOREXTrader PRO and its own website trading platform. It also offers research, education and analytical tools for its clients.
OctaFx vs Forex.com Regulation Comparison
| Broker | Trust Score | Year Founded | Publicly Traded | Bank | Tier-1 Licenses | Tier-2 Licenses | Tier-3 Licenses |
|---|---|---|---|---|---|---|---|
| OctaFx | 70/99 | 2011 | No | No | 1 | 1 | 0 |
| Forex.com | 99/99 | 1999 | Yes | No | 7 | 1 | 0 |
Forex.com has a higher trust score than OctaFx, as it is publicly traded and has more tier-1 licenses from reputable regulators. OctaFx has only one tier-1 license from CySEC, while Forex.com has seven tier-1 licenses from ASIC, CFTC/NFA, FCA, FSA Japan, MAS Singapore and more.
OctaFx vs Forex.com Trading Assets Comparison
| Broker | Tradeable Symbols (Total) | Forex Pairs (Total) |
|---|---|---|
| OctaFx | 229 | 40 |
| Forex.com | 5500 | 91 |
Forex.com offers more tradeable symbols and forex pairs than OctaFx. Forex.com has over 5500 instruments to trade on, including forex, CFDs, crypto and more. OctaFx has only 229 instruments to trade on, including forex, indexes, crypto and energies.
OctaFx vs Forex.com Trading Fees Comparison
Both brokers offer variable spreads and no commissions for their trading accounts. However, the actual spreads may vary depending on the market conditions, account types and trading platforms. The average spreads for EUR/USD are:
- OctaFx: 0.6 pips
- Forex.com: 1.3 pips
OctaFx seems to have lower spreads than Forex.com for the EUR/USD pair.
OctaFx vs Forex.com Account Types Comparison
OctaFx has a lower minimum deposit requirement than Forex.com ($25 vs $250). It also offers higher leverage than Forex.com (1:500 vs 1:200). However, OctaFx has a smaller minimum position size than Forex.com (0.01 lot vs 0.1 lot). Both brokers offer demo accounts, segregated accounts, Islamic accounts and hedging options for their clients.
| Broker | Min Deposit ($) | Max Leverage | Min Position (lot) |
|---|---|---|---|
| OctaFx | 25 | 1:500 | 0.01 |
| Forex.com | 250 | 1:200 | 0.1 |
OctaFx vs Forex.com Deposit Options Comparison
OctaFx offers more payment methods than Forex.com for depositing and withdrawing funds. OctaFx accepts crypto currencies such as Bitcoin and Ethereum, as well as e-wallets such as Neteller and Skrill. Forex.com only accepts wire transfer, credit/debit cards and SOFORT, which is a European online banking service.
OctaFx vs Forex.com Trading Platforms Comparison
Both brokers support MetaTrader 4, which is a popular and user-friendly trading platform that offers various tools and features for traders. However, OctaFx also supports MetaTrader 5, which is an upgraded version of MetaTrader 4 that has more indicators, order types and execution modes. Forex.com offers other trading platforms, such as DealBook 360, FOREXTrader PRO and its own website trading platform, which have different interfaces and functionalities. Forex.com also offers more research, education and analytical tools than OctaFx on its platforms.
OctaFx vs Forex.com Analytical Tools Comparison
Forex.com offers more analytical tools than OctaFx for its clients. Forex.com provides various research materials, such as market analysis, news, trading signals and economic calendar. It also offers education resources, such as webinars, videos, articles and courses. Moreover, it offers analytical tools, such as trading indicators, charting tools and trading strategies. OctaFx only offers webinars and education resources for its clients.
OctaFx vs Forex.com . Which forex broker is better? Which forex broker should you choose?
Choosing the better forex broker depends on your personal preferences, trading goals and risk appetite. You should consider various factors, such as regulations, fees, assets, platforms, tools and services, before choosing a broker. You can use the comparison I provided earlier to help you make an informed decision. Ultimately, the best broker for you is the one that fits your needs and expectations.
