Compare OctaFx vs FxGlory
What is OctaFx? What is FxGlory ?
OctaFx is a forex broker that was established in 2011 and is regulated by CySEC (Cyprus) and FSA (St. Vincent & the Grenadines). It offers trading on various instruments such as forex, CFDs, indices, commodities, metals, energies and cryptocurrencies. It supports MetaTrader 4 and MetaTrader 5 platforms, as well as a web-based platform and a mobile app. It also provides educational resources, trading contests, bonuses and promotions for its clients.
FxGlory is a forex broker that was also established in 2011 but is not regulated by any authority. It offers trading on forex, CFDs, indices, gold and silver. It supports MetaTrader 4 platform only, with a limited access of 30 days of inactivity. It also offers one-click trading, trailing stop, pending orders and automated trading features. It has a high leverage of up to 1:3000 and a low minimum deposit of $1.
OctaFx vs FxGlory Regulation Comparison
OctaFx is regulated by two reputable authorities: CySEC (Cyprus) and FSA (St. Vincent & the Grenadines). CySEC is one of the most popular regulators in Europe that follows the MiFID II directive and offers protection of up to €20,000 per client under the Investor Compensation Fund (ICF). FSA is an offshore regulator that does not have strict rules or requirements for the brokers, but still requires them to follow some basic standards of conduct.
FxGlory is not regulated by any authority, which means that it does not have to comply with any rules or regulations regarding its operations, services or clients’ protection. This poses a high risk for the traders who choose to trade with this broker, as they may not have any recourse or compensation in case of any issues or disputes with the broker.
OctaFx vs FxGlory Trading Assets Comparison
OctaFx offers a wide range of trading assets, including:
- Forex: over 40 currency pairs
- CFDs: on indices, commodities, metals, energies and cryptocurrencies
- Futures: on oil
- Options: on forex
FxGlory offers a limited range of trading assets, including:
- Forex: over 30 currency pairs
- CFDs: on indices
- Gold and silver
OctaFx vs FxGlory Trading Fees Comparison
OctaFx offers variable spreads that depend on the account type, market conditions and instrument traded. The average spread for EUR/USD is 0.6 pips on the Micro account, 0.4 pips on the Pro account and 0 pips on the ECN account. The ECN account also charges a commission of $3 per lot per side. OctaFx does not charge any deposit or withdrawal fees, but some payment methods may incur fees from their providers.
FxGlory offers fixed spreads that do not change regardless of the account type, market conditions or instrument traded. The average spread for EUR/USD is 2 pips on all accounts. FxGlory does not charge any commissions or deposit fees, but it charges a withdrawal fee of $1 for WebMoney, PayPal and Skrill; $50 for wire transfer; and $10 for credit/debit cards.
OctaFx vs FxGlory Account Types Comparison
OctaFx offers three account types:
- Micro: minimum deposit of $25; leverage up to 1:500; variable spread from 0.4 pips; no commission; access to MetaTrader 4 platform; suitable for beginners
- Pro: minimum deposit of $100; leverage up to 1:200; variable spread from 0.2 pips; no commission; access to MetaTrader 4 and MetaTrader 5 platforms; suitable for experienced traders
- ECN: minimum deposit of $100; leverage up to 1:500; variable spread from 0 pips; commission of $3 per lot per side; access to MetaTrader 4 and MetaTrader 5 platforms; suitable for professional traders.
FxGlory offers one account type:
- Standard: minimum deposit of $1; leverage up to 1:3000; fixed spread from 2 pips; no commission; access to MetaTrader 4 platform (limited with 30 days of inactivity); suitable for all traders.
OctaFx vs FxGlory Deposit Options Comparison
OctaFx offers a variety of deposit and withdrawal options, including:
- Crypto: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple
- Credit/debit cards: Visa, Mastercard
- E-wallets: Neteller, Skrill
- Bank transfer
FxGlory offers a limited number of deposit and withdrawal options, including:
- Crypto: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple
- Credit/debit cards: Visa, Mastercard
- E-wallets: WebMoney, PayPal, Skrill
- Bank transfer
OctaFx vs FxGlory Trading Platforms Comparison
OctaFx offers two trading platforms:
- MetaTrader 4: the most popular and widely used platform in the forex industry; it offers advanced charting tools, indicators, expert advisors, scripts and automated trading features; it is compatible with Windows, Mac, Linux, Android and iOS devices
- MetaTrader 5: the newer and more advanced version of MetaTrader 4; it offers more instruments, order types, timeframes, indicators and analytical tools; it also supports hedging and netting modes; it is compatible with Windows, Mac, Linux, Android and iOS devices
OctaFx also offers a web-based platform and a mobile app that allow traders to access their accounts and trade from any browser or device without downloading or installing any software.
FxGlory offers one trading platform:
- MetaTrader 4: the same platform as OctaFx’s but with a limited access of 30 days of inactivity; after that period, traders have to contact the broker to reactivate their accounts
OctaFx vs FxGlory Analytical Tools Comparison
OctaFx offers a range of analytical tools, such as:
- News feed: provides the latest market news and updates from reputable sources
- Economic calendar: shows the upcoming economic events and their impact on the markets
- Market analysis: provides daily technical and fundamental analysis from experts
- Signals: provides trading signals from professional traders based on various strategies
- Webinars: provides live and recorded webinars on various topics related to forex trading
FxGlory does not offer any analytical tools on its website or platform.
OctaFx vs FxGlory . Which forex broker is better? Which forex broker should you choose?
Which broker to choose depends on your personal preferences, needs and goals as a trader. However, you can see that OctaFx and FxGlory have some advantages and disadvantages over each other. Here are some possible factors that you can consider when choosing a forex broker:
- Regulation: if you value the safety and security of your funds and personal data, you may prefer a regulated broker like OctaFx over an unregulated one like FxGlory
- Trading assets: if you want to diversify your portfolio and trade on various instruments, you may prefer a broker that offers a wide range of trading assets like OctaFx over a limited one like FxGlory
- Trading fees: if you want to minimize your trading costs and maximize your profits, you may prefer a broker that offers low spreads and commissions like OctaFx over a high one like FxGlory
- Account types: if you want to have more options and flexibility in terms of trading conditions and features, you may prefer a broker that offers multiple account types like OctaFx over a single one like FxGlory
- Deposit and withdrawal options: if you want to have more convenience and speed in transferring funds to and from your account, you may prefer a broker that offers a variety of deposit and withdrawal options like OctaFx over a limited one like FxGlory
- Trading platforms: if you want to have more functionality and compatibility in executing trades on your platform, you may prefer a broker that offers multiple trading platforms like OctaFx over a single one like FxGlory
- Analytical tools: if you want to have more support and guidance in your analysis, research and decision making, you may prefer a broker that offers a range of analytical tools like OctaFx over none like FxGlory
In the end, the choice is yours. You can try both brokers by opening a demo account and checking out their services and features before making your final decision.
