FOREX.com vs Octa - 2024 Comparison | FxScouts
AuthorAuthor: Björn MichelsUpdated: May 8, 2024

Last Updated On May 8, 2024

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

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Broker Score
Min. Deposit
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.62/ 5 USD 100FCA Regulated BrokersASIC Regulated Forex BrokersMonetary Authority of SingaporeCySEC Regulated BrokersCayman Islands Monetary AuthorityMarket MakerCommodities, Cryptocurrencies, Stock CFDs, Forex, Indices, Metals918
  • Well regulated
  • Wide range of assets
  • Excellent education
  • High inactivity fees
  • Limited demo account
Read Review 111115/ 5 111115/ 5 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 111104/ 5 111104/ 5 69%200:10.70 pips Commission, DMA Account, MT4, MT5, Standard MT4, MT5, FOREX.com Web Trader, TradingViewBank Transfer, Maestro, Mastercard, Neteller, Paypal, Skrill, VisaFees Included in Spread
11110.54.37/ 5 USD 25CySEC Regulated BrokersFSCA Regulated Forex BrokersMwali International Services AuthoritySTPCommodities, Cryptocurrencies, Forex, Indices, Metals, Stock CFDs3530
  • Fast and free withdrawals
  • Low minimum deposit
  • Tight spreads
  • Limited range of assets
  • Poorly regulated
Read Review 111104/ 5 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 11110.54.5/ 5 111104/ 5 11110.54.5/ 5 67.65%1000:10.60 pips OctaTrader, MT4, MT5 MT4, MT5, OctaTraderBitcoin, Ethereum, Mastercard, Neteller, Skrill, VisaFees Included in Spread

How do FOREX.com and Octa stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.



At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare FOREX.com and Octa, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does FOREX.com or Octa have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that FOREX.com holds four Tier 1 and no Tier 2 licences, and Octa holds one Tier 1 and no Tier 2 licences.


Is FOREX.com financially regulated?

Yes FOREX.com was founded in 2001 and is regulated by ASIC, CIMA, CySEC, FCA and MAS.


Is Octa financially regulated?

Yes Octa was founded in 2011 and is regulated by CySEC, FSCA and MISA.


Based on these findings, FOREX.com earned a higher trust rating than Octa.

Does FOREX.com or Octa have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Octa has overall lower trading costs than FOREX.com. 

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Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
111115/ 5
0.70 pips
0.70 pips
1.10 pips
1.40 pips
11110.54.5/ 5
0.60 pips
0.60 pips
1.10 pips
1.20 pips


Does FOREX.com or Octa offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, FOREX.com offers support for MT4, MT5, FOREX.com Web Trader and TradingView and Octa offers support for MT4, MT5 and OctaTrader. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both FOREX.com and Octa offer copy trading.

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Platform Choice
Copy Trading
11110.54.5/ 5
FOREX.com Web Trader
11110.54.5/ 5


Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that FOREX.com offers a greater range and depth of instruments to trade than Octa. FOREX.com offers 91 Forex pairs to trade and Octa offers 35 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, Octa offers 30 cryptocurrencies while FOREX.com offers 8 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Octa.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that FOREX.com charges a withdrawal fee and Octa does not. Overall, Octa has better deposit and withdrawal processes than FOREX.com. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

FOREX.com has better educational support than Octa. Both FOREX.com and Octa offer educational support for more experienced traders.

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Beginner Course
Advanced Course
Well Structured Education
Education Quality


Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that FOREX.com offers better research analysis than Octa and that both FOREX.com and Octa offer frequent webinars.

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Economic Calendar
Trading Central
Trading View
Free VPS


Our overall Verdict on FOREX.com

Founded in 2001, Forex.com is a well-regulated broker with low fees and a wide range of trading platforms.

It offers four account types, each with a minimum deposit requirement of 100 USD, two of which have trading costs included in the variable spreads, and two commission-based accounts. Spreads start at 1.0 pip (EUR/USD) on the spread-only accounts, and down to 0 pips (EUR/USD) on the commission-based accounts in exchange for a commission of 10 USD per lot traded.

Forex.com provides support for MT4, MT5, TradingView, and its own Forex.com trading platform and experienced traders will appreciate the range of trading tools on offer, including Trading Central,  SMART Signals, and subsidised VPS hosting.  

Education and market analysis are both excellent and experienced traders will appreciate the wide range of tradable assets, including over 91 currency pairs, 4500 share CFDs, commodities, indices, precious metals, and cryptocurrencies.

Overall, Forex.com ticks all the boxes for those looking for a wide range of assets to trade and a choice of trading platforms.

Our overall Verdict on Octa

Octa has very low trading costs, charges no fees for deposits and withdrawals, and offers a great copy trading service. All Octa clients in South Africa will trade with Orinoco Capital Pty, an FSCA-regulated financial service provider that acts as Octa's intermediary. 

However, Octa's range of instruments is slightly limited compared to other brokers, with 35 Forex pairs, five commodities, ten indices, 150 equities, and 30 cryptocurrencies.

If you can look past the limited range of assets, you will find a low-cost broker with a fairly standard setup: Two accounts with minimum deposits of 25 USD, a slick mobile app, and a good range of trading tools. Octa also heavily promotes its wide range of bonuses, and it can offer leverage of 1:1000 on Forex pairs.

Which broker has the highest overall rating?

FOREX.com has an overall rating of 4.62 and Octa has an overall rating of 4.37. For more detail please read our reviews of FOREX.com and Octa.

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