Compare OctaFx vs MTrading
What is OctaFx? What is MTrading ?
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.
MTrading is an offshore broker that offers a simple trading experience through the MetaTrader 4 platform. There are over 100 tradeable assets with floating spreads starting at around 1.2 pips and leverage up to 1:1000. The brokerage has over a decade of experience in the online trading industry with hundreds of thousands of registered traders globally.
OctaFx vs MTrading Regulation Comparison
OctaFX is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 372/18 for its European entity, while its global entity is registered with the St Vincent and the Grenadines Financial Services Authority (SVGFSA) under license number 19776 IBC 2011. OctaFX also provides negative balance protection for its EU clients and participates in the Investor Compensation Fund (ICF) scheme.
MTrading is not regulated by any reputable financial authority, which raises some concerns about its credibility and safety. The broker claims to be registered in Belize under license number IFSC/60/270/TS/14, but this does not imply any strict oversight or protection for its clients. MTrading does not offer negative balance protection or any compensation scheme in case of insolvency.
OctaFx vs MTrading Trading Assets Comparison
OctaFX offers a range of over 80 financial instruments across four asset classes: forex, indices, commodities and cryptocurrencies. The broker provides access to 28 currency pairs, including majors, minors and exotics, as well as four spot metals (gold, silver, platinum and palladium), two energies (crude oil and natural gas), ten global indices (such as S&P 500, NASDAQ 100 and FTSE 100) and four cryptocurrencies (Bitcoin, Ethereum, Litecoin and Ripple).
MTrading has a slightly larger selection of over 100 tradeable assets, but with less diversity in terms of asset classes. The broker offers 48 currency pairs, including majors, minors and exotics, as well as five spot metals (gold, silver, platinum, palladium and copper), three energies (crude oil, natural gas and Brent oil), nine global indices (such as DAX 30, Nikkei 225 and Dow Jones) and no cryptocurrencies.
OctaFx vs MTrading Trading Fees Comparison
OctaFX charges low trading fees on its financial instruments, with tight spreads starting from 0.2 pips on forex pairs and no commissions on most accounts. The broker also offers zero swap fees on Islamic accounts and no deposit or withdrawal fees on any payment method. The only fees that OctaFX may charge are inactivity fees of $5 per month after six months of no trading activity and conversion fees for deposits or withdrawals in different currencies.
MTrading also offers commission-free trading on most accounts, but with wider spreads starting from around 1.2 pips on forex pairs. The broker does not charge swap fees on Islamic accounts either, but it does impose deposit and withdrawal fees on some payment methods such as bank wire transfers ($25), Neteller (3%) and Skrill (3%). MTrading does not charge inactivity fees or conversion fees.
OctaFx vs MTrading Account Types Comparison
OctaFX has three main account types to suit different trading styles and preferences: Micro, Pro and ECN1. The Micro account is designed for beginners who want to trade with small volumes and low risk. It has a minimum deposit of $100, a maximum leverage of 1:500 (non-EU) or 1:30 (EU), floating spreads from 0.4 pips on forex pairs and no commissions. The Pro account is suitable for more experienced traders who want to access more markets and tools. It has a minimum deposit of $500, a maximum leverage of 1:200 (non-EU) or 1:30 (EU), floating spreads from 0.2 pips on forex pairs and no commissions. The ECN account is ideal for advanced traders who want to trade with the best possible conditions and execution. It has a minimum deposit of $100, a maximum leverage of 1:500 (non-EU) or 1:30 (EU), floating spreads from 0 pips on forex pairs and a commission of $3 per lot per side.
MTrading has two main account types to choose from: M.Standard and MPremium. The M.Standard account is a basic account that allows traders to trade with low minimum deposits and high leverage. It has a minimum deposit of $100, a maximum leverage of 1:1000, floating spreads from 1.2 pips on forex pairs and no commissions. The MPremium account is a premium account that offers traders better trading conditions and benefits. It has a minimum deposit of $500, a maximum leverage of 1:1000, floating spreads from 0.9 pips on forex pairs and no commissions. Additionally, MPremium account holders can enjoy a 200% deposit bonus, cashback rewards, priority withdrawals and personal account managers.
OctaFx vs MTrading Deposit Options Comparison
OctaFX supports a variety of payment methods for deposits and withdrawals, including credit/debit cards (Visa, Mastercard), e-wallets (Neteller, Skrill, Perfect Money), bank wire transfers and local bank transfers in some countries. The broker does not charge any fees for deposits or withdrawals, regardless of the payment method. The minimum deposit and withdrawal amount is $5 for most methods, except for bank wire transfers which have a minimum of $200. The processing time for deposits is instant for most methods, except for bank wire transfers which can take up to 3-5 business days. The processing time for withdrawals is up to 24 hours for most methods, except for bank wire transfers which can take up to 3-7 business days.
MTrading also supports various payment methods for deposits and withdrawals, including credit/debit cards (Visa, Mastercard), e-wallets (Neteller, Skrill), bank wire transfers and local bank transfers in some countries. However, the broker does charge fees for some methods, such as bank wire transfers ($25), Neteller (3%) and Skrill (3%). The minimum deposit and withdrawal amount is $100 for most methods, except for bank wire transfers which have a minimum of $200. The processing time for deposits is instant for most methods, except for bank wire transfers which can take up to 3-5 business days. The processing time for withdrawals is up to 24 hours for most methods, except for bank wire transfers which can take up to 3-7 business days.
OctaFx vs MTrading Trading Platforms Comparison
OctaFX offers two industry-leading trading platforms in MetaTrader 4 and MetaTrader 5, as well as its own copy trading platform. MetaTrader 4 is the most popular platform among forex traders, offering advanced charting tools, technical indicators, automated trading systems (Expert Advisors) and customisable features. MetaTrader 5 is the newer version of the platform, offering more markets, order types, indicators and tools than MetaTrader 4. Both platforms are available as desktop applications, web-based versions and mobile apps for iOS and Android devices. OctaFX’s copy trading platform is an in-house solution that allows traders to follow and copy the trades of successful traders on the broker’s network. Traders can choose from a variety of strategies based on performance metrics such as profitability, risk level and trading style.
MTrading only supports the MetaTrader 4 platform as its main trading terminal. However, the broker also offers the multi-platform edition and the supreme edition of MetaTrader 4, which are enhanced versions of the platform with additional features such as more indicators, widgets, signals and tools. The MetaTrader 4 platform is available as a desktop application, a web-based version and a mobile app for iOS and Android devices. MTrading also offers copy trading through the MetaTrader 4 platform, using the MQL5 community service that connects traders with signal providers from around the world. Traders can browse through a ranking system that displays the performance and ratings of different signal providers before subscribing to them.
OctaFx vs MTrading Analytical Tools Comparison
OctaFX provides a range of analytical tools to help traders make informed trading decisions. These include market insights, economic calendar, trading signals, market news and analysis, trading calculators and webinars. The market insights feature provides daily commentary and analysis on the major currency pairs and market events. The economic calendar displays the upcoming economic data releases and their potential impact on the markets. The trading signals feature provides buy and sell recommendations based on technical analysis and market trends. The market news and analysis feature provides the latest updates and commentary on the global financial markets. The trading calculators feature allows traders to calculate various parameters such as margin, pip value, swap and profit. The webinars feature offers live and recorded sessions on various topics such as trading strategies, risk management and platform tutorials.
MTrading also offers some analytical tools to assist traders with their trading activities. These include economic calendar, market news, trading signals, trading calculators and educational resources. The economic calendar shows the upcoming economic events and indicators that may affect the markets. The market news feature provides the latest headlines and stories from the financial world. The trading signals feature provides buy and sell suggestions based on technical analysis and market conditions. The trading calculators feature enables traders to calculate various parameters such as margin, pip value, swap and profit. The educational resources feature offers articles, videos, ebooks and webinars on various topics such as forex basics, technical analysis, trading psychology and platform guides.
OctaFx vs MTrading . Which forex broker is better? Which forex broker should you choose?
Different brokers may suit different traders depending on their trading goals, preferences and risk appetite. However, some general conclusions can be drawn:
- OctaFX has a stronger regulatory status than MTrading, as it is licensed by the CySEC in Europe and offers negative balance protection and compensation scheme for its EU clients. MTrading is not regulated by any reputable authority and does not offer any protection or compensation for its clients.
- OctaFX has a more diverse range of trading assets than MTrading, as it offers four asset classes including cryptocurrencies, while MTrading only offers three asset classes and no cryptocurrencies.
- OctaFX has lower trading fees than MTrading, as it offers tighter spreads and no commissions on most accounts, as well as no deposit or withdrawal fees on any payment method. MTrading has wider spreads and charges fees for some deposit and withdrawal methods.
- OctaFX has more account types than MTrading, as it offers three main accounts with different trading conditions and features, while MTrading only offers two main accounts with similar trading conditions and features.
- OctaFX supports more trading platforms than MTrading, as it offers MetaTrader 4, MetaTrader 5 and its own copy trading platform, while MTrading only supports MetaTrader 4 and its enhanced versions.
- OctaFX provides more analytical tools than MTrading, as it offers market insights, economic calendar, trading signals, market news and analysis, trading calculators and webinars, while MTrading only offers economic calendar, market news, trading signals, trading calculators and educational resources.
Thereby, OctaFX seems to have an edge over MTrading in terms of regulation, trading assets, trading fees, account types, trading platforms and analytical tools. Therefore, OctaFX may be a better choice for traders who value these aspects and want to trade with a competitive and reliable broker. However, MTrading may still appeal to some traders who prefer a simple and straightforward trading experience with high leverage and generous bonus scheme. Ultimately, the choice of a broker depends on the needs and preferences of each trader.
