OctaFX vs Cobra Trading

OctaFX vs Cobra Trading Comparison Table 2024
OctaFX Cobra Trading
4.1
3.3

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.

Established in 2003, Cobra Trading is a US-based brokerage specializing in equities and options contracts. The firm offers 3 powerful platforms and is aimed at professional clients or those looking for retirement accounts. Cobra Trading is regulated by the NFA and SIPC and is a member of FINRA.

Bonus Offer
Up to 50% deposit bonus
Comment by Reviewer
"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." "After exploring this popular US brokerage, I think experienced stock traders who can deposit at least $30,000 to open an account with appreciate the broker’s low trading fees of $0.0015 per share."
Pros
  • Demo account with access to unlimited virtual funds
  • Bonuses and contests available (non-EU)
  • Negative balance protection (Within EU)
  • Comprehensive educational content
  • High Leverage 1:500 (non-EU)
  • Excellent copy trading service
  • No deposit and withdrawal fees
  • Offers Islamic accounts
  • Low minimum deposit
  • Highly rated broker
  • MT4 and MT5 integration
  • Commission-free trading
  • Mobile app compatibility
  • I’m happy with the broker’s regulatory status in the US, with oversight from reputable bodies including the SIPC, NFA and FINRA. This, coupled, with the broker’s strong reputation since 2003 is a great sign of a trustworthy firm
  • I think the choice of 3 platforms means all strategies and trading styles are catered to. All platforms offer comprehensive charting packages, with sophisticated analysis tools and advanced order types
  • I found some reasonably low fees at Cobra Trading, including shares from $0.0015, options from $0.30 and margin rates as low as 8%
  • Cobra Trading offers a good range of account types, including traditional and Roth IRA’s, plus joint, corporate and trust accounts
  • I like that Cobra Trading doesn’t enforce any minimums on trades and there are also no locate fees
Cons
  • No stock trading
  • Few payment methods
  • Zero pip spreads unavailable
  • The global entity is regulated offshore
  • Despite the low trading fees, this broker does charge several other platform and admin fees which will soon add up, including monthly software fees from $100 and market data packages from $18 per month
  • Unfortunately, Cobra Trading isn’t going to be suitable for novices, as the minimum deposit to open an account is $30,000. I think it’s a shame that there are no beginner-friendly accounts at this broker
  • I did find that pattern day trading (PDT) restrictions will apply, though this is expected from a US brokerage
Awards
  • Most Secure Broker Indonesia 2022- International Business Magazine
  • Best Global Broker Asia 2022- International Business Magazine
  • Best Forex Broker Pakistan 2022- Global Brands
  • Best Forex Broker India 2022- World Finance
  • Best Mobile Trading Platform 2022- FXDailyInfo
  • Best In Class For Social Copy Trading 2022- Forexbrokers.com
  • Best Trading Conditions Asia 2021- World Business Outlook
Instruments
Forex, CFDs, indices, commodities, cryptocurrencies Stocks, options
Demo Account
Yes Yes
Minimum Deposit
$100
Trading Platforms
  • MT4
  • MT5
  • AutoChartist
  • Own
Payment Methods
Minimum Trade
0.01 Lots $1
Regulator
SVGFSA, CySEC FINRA
Margin Trading
Yes No
Margin Rate
8%
STP Account
No No
ECN Account
Yes No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
Yes (iOS & Android) Yes
App Review

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.

Android App Rating
4.3
iOS App Rating
4.5
Auto Trading
Yes Yes
Copy Trading
Yes No
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
Yes No
Trade Signals
Yes (EAs) Yes
VPS Hosting
Yes No
Tournaments
No No
Demo Competitions
Yes No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
Stock Exchanges
Commodities
CFD Trading
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. CFD trading not offered
Leverage
1:30 (EU), 1:500 (Global)
FTSE Spread
1.8
GBPUSD Spread
1.1
Oil Spread
0.7
Stocks Spread
Variable
Forex Trading
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 trading not offered
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.

GBPUSD Spread
1.1
EURUSD Spread
0.7
EURGBP Spread
2.1
Assets
35
Cryptocurrency
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. Crypto trading not offered
Spread
Variable
Coins
  • BTC
  • LTC
  • ETH
  • ZEC
  • SOL
  • ADA
  • DOT
  • ATOM
  • LINK
  • AVAX
  • BTB
  • MANA
  • MATIC
  • NEAR
  • IOTA
  • DOGE
  • DASH
  • ALGO
  • AAVE
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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