Compare OctaFx vs FXOpen
What is OctaFx? What is FXOpen ?
OctaFX is a forex broker that was founded in 2011 and is regulated by CySEC and FSCA. It offers trading on 40 currency pairs and 229 CFDs, including cryptocurrencies, on MetaTrader 4 and MetaTrader 5 platforms. It also provides social trading, copy trading, free education, trading contests and bonuses.
FXOpen is a forex broker that was founded in 2003 and is regulated by FCA, ASIC, CySEC and The Financial Commission. It offers trading on 25 currency pairs and 87 CFDs, including cryptocurrencies, on MetaTrader 4, MetaTrader 5, TickTrader and TradingView platforms. It also provides PAMM accounts, Islamic accounts, free education and trading contests.
OctaFx vs FXOpen Regulation Comparison
| Regulator | OctaFX | FXOpen |
|---|---|---|
| Tier-1 Licenses (High Trust) | 0 | 2 |
| Tier-2 Licenses (Average Trust) | 2 | 1 |
| Tier-3 Licenses (Low Trust) | 0 | 0 |
| Total Licenses | 2 | 3 |
| Trust Score | 69/99 | 80/99 |
FXOpen has more licenses from high-trust regulators than OctaFX, which gives it a higher trust score.
OctaFx vs FXOpen Trading Assets Comparison
| Asset Type | OctaFX | FXOpen |
|---|---|---|
| Forex Pairs (Total) | 40 | 25 |
| CFDs (Total) | 229 | 87 |
| Cryptocurrencies (CFD) | Yes | Yes |
| Stocks (Non CFD) | No | No |
OctaFX offers more forex pairs and CFDs than FXOpen, which gives it an advantage in terms of trading variety.
OctaFx vs FXOpen Trading Fees Comparison
Both brokers offer variable spreads that depend on market conditions and account types. Both brokers charge no commissions on their standard accounts but may apply other fees such as swaps or inactivity fees. Both brokers charge commissions on their ECN accounts but may offer lower spreads or other benefits.
OctaFx vs FXOpen Account Types Comparison
| Account Type | OctaFX | FXOpen |
|---|---|---|
| Minimum Deposit – Standard Account | $25 | $100 |
| Minimum Deposit – ECN Account | $100 | $100 |
| Maximum Leverage – Standard Account | 1:500 | 1:500 |
| Maximum Leverage – ECN Account | 1:500 | 1:500 |
| Platforms – Standard Account | MT4, MT5 | MT4, MT5, TickTrader, TradingView |
| Platforms – ECN Account | MT4, MT5 | MT4, MT5, TickTrader, TradingView |
*OctaFX also offers a Micro account with a minimum deposit of $5 and a maximum leverage of 1:500 on MT4 platform. FXOpen also offers a Crypto account with a minimum deposit of $10 and a maximum leverage of 1:3 on MT4 and MT5 platforms. Both brokers may offer lower leverage depending on the client’s country of residence and the instrument traded.
Both brokers have similar account types for their standard and ECN accounts, but FXOpen offers more platform options and a Crypto account.
OctaFx vs FXOpen Deposit Options Comparison
| Option Type | OctaFX | FXOpen |
|---|---|---|
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Neteller (Deposit/Withdraw) | Yes | No |
| FasaPay (Deposit/Withdraw) | No | Yes |
| Crypto (Deposit/Withdraw) | Yes | Yes |
| WebMoney (Deposit/Withdraw) | No | Yes |
| AdvCash (Deposit/Withdraw) | No | Yes |
Both brokers offer a variety of deposit and withdrawal options, but OctaFX offers Neteller while FXOpen offers FasaPay, WebMoney and AdvCash.
OctaFx vs FXOpen Trading Platforms Comparison
| Platform Type | OctaFX | FXOpen |
|---|---|---|
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| TickTrader | No | Yes |
| TradingView | No | Yes |
OctaFX offers MT4 and MT5 on both standard and ECN accounts. FXOpen offers MT4 and MT5 on standard, ECN and Crypto accounts, TickTrader on ECN accounts only, and TradingView on all accounts.
Both brokers offer MT4 and MT5 platforms, but FXOpen also offers TickTrader and TradingView platforms.
OctaFx vs FXOpen Analytical Tools Comparison
| Tool Type | OctaFX | FXOpen |
|---|---|---|
| Economic Calendar | Yes | Yes |
| Market News | Yes | Yes |
| Market Analysis | Yes | No |
| Trading Signals | No | No |
OctaFX offers an economic calendar, market news and market analysis on its website. FXOpen offers an economic calendar and market news on its website. Both brokers do not offer trading signals but may support third-party signal providers.
Both brokers offer an economic calendar and market news, but OctaFX also offers market analysis.
OctaFx vs FXOpen . Which forex broker is better? Which forex broker should you choose?
Different brokers can suit different traders depending on their preferences, goals, strategies, risk appetite, etc. However, you can consider several factors that may help you decide, such as:
- Trust score: FXOpen has a higher trust score than OctaFX, which means it is more regulated and reputable.
- Trading assets: OctaFX offers more trading assets than FXOpen, which means it has more variety and opportunities for diversification and profit.
- Trading fees: Both brokers have similar fee structures for their standard and ECN accounts, but you may want to compare their spreads and other charges in detail to see which one is more cost-effective for you.
- Account types: Both brokers have similar account types for their standard and ECN accounts, but FXOpen offers more platform options and a Crypto account.
- Deposit and withdrawal options: Both brokers offer a variety of deposit and withdrawal options, but OctaFX offers Neteller while FXOpen offers FasaPay, WebMoney and AdvCash.
- Trading platforms: Both brokers offer MT4 and MT5 platforms, but FXOpen also offers TickTrader and TradingView platforms.
- Analytical tools: Both brokers offer an economic calendar and market news, but OctaFX also offers market analysis.
In the end, the best way to find out which broker is better for you is to try it out for yourself by opening a demo account or a small live account and testing out their services.
