Compare OctaFx vs FXTM
What is OctaFx? What is FXTM ?
OctaFX is an award-winning forex and CFD broker, founded in 2011. The Cyprus-based entity is regulated by the CySEC while the offshore branch is registered with SVGFSA. The ECN broker offers competitive trading conditions on its 80+ financial instruments, with tight spreads from 0.2 pips, fast execution speeds of 0.1 second and flexible leverage. OctaFX also offers two industry-leading platforms in MetaTrader 4 and MetaTrader 5, plus an in-house copy trading solution.
FXTM is a top-rated forex and CFD broker. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ markets and three account types, they cater to all levels of trader. FXTM also provides free educational materials and market insights, customer support in 30+ languages and negative balance protection.
OctaFx vs FXTM Regulation Comparison
Both brokers are regulated by the CySEC in Cyprus, which means they have to comply with strict rules regarding client funds protection, risk management and transparency. However, FXTM has more licenses from other reputable regulators, such as the FCA in the UK, the FSCA in South Africa and the CMA in Kenya. This gives FXTM more credibility and trustworthiness in the global market.
OctaFx vs FXTM Trading Assets Comparison
Both brokers offer a wide range of trading instruments, including forex, CFDs, indices, commodities, crypto and futures. However, FXTM has more assets to choose from, with over 1000 markets compared to OctaFX’s 80+. FXTM also offers some instruments that OctaFX does not, such as ETFs, shares and physical stocks.
| Broker | Instruments |
|---|---|
| OctaFX | Forex, CFDs, Indices, Commodities, Crypto |
| FXTM | Forex, CFDs, Indices, Commodities, Crypto, ETFs, Shares, Physical Stocks |
OctaFx vs FXTM Trading Fees Comparison
Both brokers have competitive trading fees, with low or zero commissions and tight spreads. However, the exact fees depend on the account type and the instrument traded. OctaFX offers three account types: Micro (commission-free), Pro (commission-based) and ECN (commission-based). FXTM offers six account types: Standard (commission-free), Cent (commission-free), Shares (commission-free), ECN (commission-based), ECN Zero (commission-free) and Pro (commission-based).
The table below shows a comparison of the average spreads for some popular instruments on both brokers’ commission-based accounts:
| Instrument | OctaFX Pro | FXTM ECN |
|---|---|---|
| EUR/USD | 0.5 pips | 0.4 pips |
| GBP/USD | 0.9 pips | 0.7 pips |
| USD/JPY | 0.7 pips | 0.6 pips |
| XAU/USD | 10 pips | 9 pips |
| BTC/USD | $30 | $20 |
As you can see, FXTM has slightly lower spreads than OctaFX on most instruments.
OctaFx vs FXTM Account Types Comparison
| Broker | Account Type | Min Deposit | Max Leverage | Execution Model | Platform |
|---|---|---|---|---|---|
| OctaFX | Micro | $25 | 1:500 | Market Maker | MT4 |
| OctaFX | Pro | $25 | 1:200 | ECN | MT5 |
| OctaFX | ECN | $100 | 1:500 | ECN | cTrader |
| FXTM | Standard | $100 | 1:2000 | Market Maker | MT4 |
| FXTM | Cent | $10 | 1:1000 | Market Maker | MT4 |
| FXTM | Shares | $100 | 1:10 | Market Maker | MT4 |
| FXTM | ECN | $500 | 1:2000 | ECN/STP | MT4/MT5 |
| FXTM | ECN Zero | $200 | 1:2000 | ECN/STP | MT4/MT5 |
| FXTM | Pro | $25,000 | 1:2000 | ECN/STP | MT4/MT5 |
FXTM has more account options than OctaFX, with lower minimum deposits and higher leverage. However, OctaFX also has some advantages, such as offering the cTrader platform and the Micro account for beginners.
OctaFx vs FXTM Deposit Options Comparison
| Broker | Payment Methods |
|---|---|
| OctaFX | Crypto, Credit/debit cards, Neteller, Skrill |
| FXTM | WebMoney, Skrill, Wire transfer, Credit/debit cards, YooMoney, Neteller, UnionPay, QIWI, Perfect Money, DIXIPAY, FasaPay, Crypto, Google Pay |
FXTM has more payment options than OctaFX, especially for e-wallets. However, OctaFX does not charge any deposit or withdrawal fees, while FXTM may charge some fees depending on the method and the amount.
OctaFx vs FXTM Trading Platforms Comparison
Both brokers offer the popular MetaTrader 4 and MetaTrader 5 platforms, which are widely used by traders around the world. These platforms have advanced features such as charting tools, indicators, expert advisors and automated trading. However, OctaFX also offers the cTrader platform, which is a modern and user-friendly platform designed for ECN trading. cTrader has some advantages over MetaTrader, such as faster execution speeds, level II pricing and more order types.
The table below shows a comparison of the platforms offered by both brokers:
| Broker | Platforms |
|---|---|
| OctaFX | MetaTrader 4, MetaTrader 5, cTrader |
| FXTM | MetaTrader 4 (Limited with 60 days), MetaTrader 5 (Limited with 30 days) |
As you can see, OctaFX has more platform options than FXTM, especially for ECN trading. However, FXTM also provides a Forex VPS service for clients who want to run their EAs without interruption.
OctaFx vs FXTM Analytical Tools Comparison
| Broker | Analytical Tools |
|---|---|
| OctaFX | Market news, Economic calendar, Trading signals (Autochartist), Webinars (OctaFX Education), Educational materials (OctaFX Education) |
| FXTM | Market news (FXTM News), Economic calendar (FXTM Calendar), Trading signals (FXTM Trading Signals), Market analysis (FXTM Analytics), Webinars (FXTM Webinars), Educational materials (FXTM Education), Trading calculators (FXTM Calculators), Sentiment indicators (FXTM Trader’s Sentiments) |
OctaFx vs FXTM . Which forex broker is better? Which forex broker should you choose?
Choosing the right broker depends on your personal preferences and trading goals. However, you may want to consider several factors such as:
- The regulation and reputation of the broker
- The trading instruments and markets available
- The trading fees and costs
- The account types and features
- The deposit and withdrawal options
- The trading platforms and tools
- The customer support and education
You may also want to test the brokers yourself by opening a demo account or a small live account and see how they perform under real market conditions. Ultimately, the best forex broker for you is the one that meets your needs and expectations.
