Interactive Brokers vs OctaFX
| Interactive Brokers Review 2023 | OctaFX Review 2023 |
|---|---|
4.3
Interactive Brokers is #13 in our CFD broker rankings. |
4.1
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 Traders from US accepted |
Traders from US not accepted
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Interactive Brokers is a leading global brokerage that provides access to a comprehensive offering of stocks as well as forex, futures, metals, bonds and cryptos. The firm has over 40 years experience in the online trading industry and is heavily regulated by SEC, FCA, IIROC, and SFC. Traders use the proprietary Trader Workstation and can access powerful tools and data feeds as well as comprehensive educational resources. |
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. |
| Bonus Offer | |
| Up to 50% deposit bonus | |
| Comment by Reviewer | |
| "Serious traders seeking a regulated broker with unparalleled access to stock markets should look at IB. Their range of stocks can't be beaten." | "OctaFX is a great pick for traders of all experience levels. Seasoned day traders will appreciate the ECN model with fast execution and tight spreads, while beginners will rate the user-friendly copy trading platform and low minimum deposit." |
| Pros | |
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| Cons | |
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| Awards | |
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| Instruments | |
| Stocks, Futures, E-minis, Options, CFD, Forex, Crypto, Exchange Linked Warrants | Forex, CFDs, indices, commodities, cryptocurrencies |
| Demo Account | |
| Yes | Yes |
| Minimum Deposit | |
| $0 | $100 |
| Trading Platforms | |
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| Payment Methods | |
| Minimum Trade | |
| $100 | 0.01 Lots |
| Regulator | |
| SEC, FCA, IIROC, SFC | SVGFSA, CySEC |
| Margin Trading | |
| Yes | Yes |
| Margin Rate | |
| 1.55 - 2.59% | |
| STP Account | |
| Yes | No |
| ECN Account | |
| No | Yes |
| DMA Account | |
| Yes | No |
| MAM Account | |
| Yes | No |
| PAMM Account | |
| No | No |
| LAMM Account | |
| No | No |
| Demat Account | |
| No | No |
| AI / Machine Learning | |
| Yes | No |
| Robo Advisor | |
| No | No |
| Negative Balance Protection | |
| No | Yes |
| Market Maker | |
| No | No |
| P2P Trading | |
| No | No |
| Spot Trading | |
| Yes | Yes |
| Mobile Apps | |
| iOS, Android and Windows | Yes (iOS & Android) |
| Auto Trading | |
| Yes | |
| Copy Trading | |
| No | Yes |
| Copy Trading Platform | |
| Copy trading at OctaFX is offered through a proprietary platform and mobile app, as well as integration via the MetaTrader suites. Users can easily diversify portfolios by copying the most profitable traders. Track professionals and their performance live for smart investing, control your portfolio and view how your funds are invested and manage risks in real time. | |
| Social Trading | |
| No | Yes |
| Trade Signals | |
| Yes (EAs) | |
| VPS Hosting | |
| No | Yes |
| Tournaments | |
| No | No |
| Demo Competitions | |
| No | Yes |
| Ethical Investing | |
| No | No |
| Custodial Account | |
| No | No |
| Guaranteed Stop Loss | |
| No | No |
| Inactivity Fee | |
| $0 | $0 |
| Islamic Account | |
| No | Yes |
| Account Currencies | |
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| Stock Exchanges | |
| Commodities | |
| CFD Trading | |
| Trade leveraged CFDs on thousands of global stocks as well as 13 global indices, 80+ forex pairs, and London gold and silver. Leverage is available in line with regulatory requirements. | OctaFX offers leveraged CFDs on popular asset classes spanning forex, indices, commodities and cryptos. Traders benefit from ultra-fast execution speeds, reliable trading tools and zero commissions. There are also no restrictions on strategies, including hedging, scalping and automated trading. |
| Leverage | |
| 1:50 | 1:30 (EU), 1:500 (Global) |
| FTSE Spread | |
| 0.005% (£1 Min) | 1.8 |
| GBPUSD Spread | |
| Commission (.20 pts x trade value) | 1.1 |
| Oil Spread | |
| N/A | 0.7 |
| Stocks Spread | |
| From 0.003 per share, variable | Variable |
| Forex Trading | |
| Trade 85 major, minor and exotic forex pairs via CFDs on IB's FXTrader platform with tight spreads and low commissions, or trade forex on the spot market. They offer more FX assets than almost any competitor. | OctaFX offers leveraged trading on dozens of currencies with competitive spreads that average 0.9 pips on the EUR/USD. Clients also benefit from high-quality research from the team's analysts with insights into forex trends and news events, alongside technical analysis. |
| Forex App | |
OctaFX offers a user-friendly trading platform that can be used to take positions on major and minor currency pairs. Copy trading is also available via the broker’s in-house mobile application. |
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| GBPUSD Spread | |
| Commission (.20 pts x trade value) | 1.1 |
| EURUSD Spread | |
| Commission (.20 pts x trade value) | 0.7 |
| EURGBP Spread | |
| Commission (.20 pts x trade value) | 2.1 |
| Assets | |
| 70+ | 35 |
| Cryptocurrency | |
| Buy and hold Bitcoin, Bitcoin Cash, Ethereum and Litecoin with low commissions of 0.12%–0.18%. Fees are low and the broker offers a secure environment to invest in digital assets. | Trade 30+ popular digital currencies paired with the USD, including big tokens like Bitcoin and Ethereum. EU traders can access 1:2 leverage while global traders can access rates of up to 1:25 on major tokens. Cryptos can be traded around the clock, including on weekends. |
| Spread | |
| Variable | Variable |
| Coins | |
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| Crypto Lending | |
| No | No |
| Crypto Mining | |
| No | No |
| Crypto Staking | |
| No | No |
| Auto Market Maker | |
| No | No |
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| More Comparisons | |
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Interactive Brokers vs |
OctaFX vs |