OctaFX is a forex broker that was established in 2011 and offers over 230 trading instruments, including currencies, stocks, indices, commodities and cryptocurrencies. OctaFX is regulated by the Financial Conduct Authority (FCA) in the UK and has offices in Saint Lucia and Cyprus.
Fortrade is a forex and CFD broker that was established in 2013 and offers over 300 trading instruments, including currencies, stocks, indices, commodities, ETFs and cryptocurrencies. Fortrade is regulated by the FCA in the UK, the Investment Industry Regulatory Organization of Canada (IIROC), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the National Bank of the Republic of Belarus (NBRB). Fortrade has offices in the UK, Canada, Australia, Cyprus, Spain, Belarus and Mauritius.
OctaFx vs Fortrade Regulation Comparison
Aspect
OctaFX
Fortrade
UK regulation
Yes (FCA)
Yes (FCA)
Canada regulation
No
Yes (IIROC)
Australia regulation
No
Yes (ASIC)
Cyprus regulation
Yes (CySEC)
Yes (CySEC)
Belarus regulation
No
Yes (NBRB)
Mauritius regulation
No
Yes (FSC)
OctaFx vs Fortrade Trading Assets Comparison
Aspect
OctaFX
Fortrade
Currencies
28 pairs
60 pairs
Stocks
200+ CFDs
250+ CFDs
Indices
10 CFDs
20 CFDs
Commodities
6 CFDs
19 CFDs
Cryptocurrencies
3 CFDs
6 CFDs
ETFs
No
4 CFDs
OctaFx vs Fortrade Trading Fees Comparison
Aspect
OctaFX
Fortrade
Minimum deposit
$100 or equivalent
$100 or equivalent
Spreads
Variable from 0.4 pips on EUR/USD
Fixed from 2 pips on EUR/USD
Commissions
No commissions on most accounts
No commissions on most accounts
Swaps
Swaps apply on overnight positions
Swaps apply on overnight positions
Bonuses and promotions
50% bonus on deposits, contests and copytrading
No bonuses or promotions
OctaFx vs Fortrade Account Types Comparison
Both OctaFX and Fortrade offer demo accounts that allow you to practice trading with virtual money and access all the features of the platforms.
OctaFX has four types of live accounts: micro, standard, pro and ECN. The minimum deposit for all accounts is $100 or equivalent, except for the pro account which requires $500 or equivalent. The micro account is suitable for beginners who want to trade with smaller lot sizes and lower risk. The standard account is the most popular option that offers variable spreads and no commissions. The pro account is designed for experienced traders who want to trade with higher leverage and lower spreads. The ECN account is ideal for scalpers and high-frequency traders who want to trade with raw spreads and pay commissions per lot.
Fortrade has only one type of live account: standard. The minimum deposit for this account is $100 or equivalent. The standard account offers fixed spreads and no commissions on most instruments. The standard account also has a swap-free option for Islamic traders who want to avoid interest charges on overnight positions.
OctaFx vs Fortrade Deposit Options Comparison
Aspect
OctaFX
Fortrade
Bank transfer
Yes, no fees but may take up to 3-5 business days
Yes, no fees but may take up to 3-5 business days
Credit/debit card
Yes, no fees but may take up to 30 minutes to process
Yes, no fees but may take up to 15 minutes to process
E-wallets
Yes, no fees and instant processing for Neteller, Skrill, Bitcoin, Perfect Money and others
Yes, no fees and instant processing for Neteller, Skrill, WebMoney, Sofort and others
Minimum withdrawal
$5 or equivalent
$50 or equivalent
OctaFx vs Fortrade Trading Platforms Comparison
Aspect
OctaFX
Fortrade
Web platform
Yes, MetaTrader 4 and MetaTrader 5 web versions available
Yes, Fortrader web version available
Desktop platform
Yes, MetaTrader 4 and MetaTrader 5 desktop versions available
No desktop platform
Mobile platform
Yes, MetaTrader 4 and MetaTrader 5 mobile apps available for iOS and Android devices
Yes, Fortrader mobile app available for iOS and Android devices
OctaFx vs Fortrade Analytical Tools Comparison
Aspect
OctaFX
Fortrade
Market news
Yes, daily market reviews and analysis available on the website and the platforms
Yes, daily market reviews and analysis available on the website and the platforms
Economic calendar
Yes, available on the website and the platforms
Yes, available on the website and the platforms
Forex calculator
Yes, available on the website and the platforms
No forex calculator
Trading signals
No trading signals
Yes, trading signals from Trading Central available on the platforms
OctaFx vs Fortrade . Which forex broker is better? Which forex broker should you choose?
Different brokers may suit different traders depending on their preferences, goals, strategies and risk appetite. However, you may want to consider some of the following factors:
Regulation: Fortrade has more regulatory licenses than OctaFX, which may give you more confidence and protection when trading with them. However, OctaFX is also regulated by the FCA in the UK, which is a reputable and strict regulator that imposes high standards on its brokers.
Trading assets: Fortrade has more trading instruments than OctaFX, which may give you more opportunities and diversification in your trading portfolio. However, OctaFX also offers a decent range of products, especially in the stock and cryptocurrency markets.
Trading fees: OctaFX has lower spreads than Fortrade, which may save you money in the long run. However, Fortrade has no commissions on most accounts, which may also reduce your trading costs. Both brokers charge swaps on overnight positions, unless you opt for a swap-free account.
Account types: OctaFX has more account types than Fortrade, which may give you more flexibility and customization in your trading experience. However, Fortrade has a simple and straightforward account structure that may appeal to traders who prefer simplicity and convenience.
Trading platforms: OctaFX offers MetaTrader 4 and MetaTrader 5 platforms, which are widely used and popular among forex traders. However, Fortrade offers its own proprietary platform, Fortrader, which is also user-friendly and advanced. Both brokers have web and mobile versions of their platforms.
Analytical tools: Fortrade has more analytical tools than OctaFX, such as trading signals from Trading Central and an economic calendar. However, OctaFX also provides market news and analysis and a forex calculator on its website and platforms.
Ultimately, choosing a forex broker depends on your personal preferences and needs. You may want to try both brokers with their demo accounts before making a decision. You may also want to do more research and read reviews from other traders who have used both brokers.
