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OctaFX
#70 in our CFD broker rankings
Accepts traders from Mongolia
Rating breakdown
- Regulation & trust2.02.5 lower than XM (4.5)
- Assets & markets1.82.7 lower than XM (4.5)
- Fees & costs2.31.7 lower than XM (4.0)
- Platforms & tools2.02.8 lower than XM (4.8)
- Accounts & banking2.02.5 lower than XM (4.5)
- Education2.82.0 lower than XM (4.8)
- Research2.51.8 lower than XM (4.3)
- Customer support1.83.1 lower than XM (4.9)
XM’s score. Numbers show the difference.
XM
#1 in our CFD broker rankings
Accepts traders from Mongolia
Rating breakdown
- Regulation & trust4.52.5 higher than OctaFX (2.0)
- Assets & markets4.52.7 higher than OctaFX (1.8)
- Fees & costs4.01.7 higher than OctaFX (2.3)
- Platforms & tools4.82.8 higher than OctaFX (2.0)
- Accounts & banking4.52.5 higher than OctaFX (2.0)
- Education4.82.0 higher than OctaFX (2.8)
- Research4.31.8 higher than OctaFX (2.5)
- Customer support4.93.1 higher than OctaFX (1.8)
OctaFX’s score. Numbers show the difference.
| OctaFX | XM | |
|---|---|---|
| Overview | 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. | XM is a globally recognized forex and CFD broker with 20+ million clients in 190+ countries. Since 2009, this trusted broker has been delivering low trading fees across its growing roster of 1000+ instruments. It also offers a comprehensive MetaTrader experience that we've observed firsthand placing test trades. |
| Customer Reviews | Based on 9 customer reviews | Based on 53 customer reviews |
| Trustpilot Score | – | |
| Bonus Offer | Up to 50% deposit bonus | $30 No Deposit Bonus, 100% Deposit Bonus |
| Promotions | – | |
| 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.” | “With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders.” |
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| Instruments | Forex, CFDs, indices, commodities, cryptocurrencies | CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies |
| Demo Account | Yes | Yes |
| Minimum Deposit | $100 | $5 |
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| Minimum Trade | 0.01 Lots | 0.01 Lots |
| Regulator | SVGFSA, CySEC | CySEC, DFSA, FSCA, SCA, FSA, FSC-Belize, FSC-Mauritius, CMA-Kenya, CMA-UAE |
| Margin Trading | Yes | Yes |
| STP Account | No | Yes |
| 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 | Yes |
| Robo Advisor | No | No |
| Negative Balance Protection | Yes | Yes |
| Market Maker | No | Yes |
| P2P Trading | No | No |
| Spot Trading | Yes | Yes |
| Mobile Apps | Yes (iOS & Android) | iOS, Android & Windows |
| 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. | XM offer a mobile app for both Android and iOS that has been specifically tailored to each platform, maximizing the functionality of both. The app delivers the MT4 and MT5 software on the move, with full access to the broker’s 1,400+ instruments. Where they shine is their dependability with minimal glitches and delays during testing. The built-in news, trading journal and push notifications also ensure you have everything you need to day trade from your hand. |
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| Auto Trading | Yes | Expert Advisors (EAs) on MetaTrader |
| Copy Trading | Yes | 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. | XM offers copy trading through its intuitive app with exclusive crypto pairs. XM global offers a pre-integrated signals service via the MT5 platform. Aspiring investors can view detailed performance metrics and copy the trades of strategy managers. It's easy to set up, only requiring a handful of steps after logging in to your MQL5 community account. |
| Social Trading | Yes | Yes |
| Trade Signals | Yes (EAs) | Yes |
| VPS Hosting | Yes | Yes |
| Tournaments | No | Yes |
| Demo Competitions | Yes | Yes |
| Ethical Investing | No | No |
| Custodial Account | No | No |
| Guaranteed Stop Loss | No | No |
| Inactivity Fee | $0 | $5 |
| Islamic Account | Yes | Yes |
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| Overview | 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. | XM delivers for CFD traders with flexible leverage and a huge range of markets, including bespoke thematic indices for exposure to popular sectors like artificial intelligence. The MT4/MT5 platforms are also fast and dependable while a free VPS is available to qualifying XM traders running algo trading strategies. |
| Leverage | 1:30 (EU), 1:500 (Global) | 1:1000 |
| FTSE Spread | 1.8 | 1.4 |
| GBPUSD Spread | 1.1 | 0.8 |
| Oil Spread | 0.7 | 0.03 |
| Stocks Spread | Variable | 1.79 (Apple) |
| Forex Trading | ||
| Overview | 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. | XM offers a strong selection of currency pairs with no re-quotes or hidden charges, while spreads have come down over the years, now starting from 0.6 pips on the EUR/USD in the commission-free account. |
| GBPUSD Spread | 1.1 | 0.8 |
| EURUSD Spread | 0.7 | 0.8 |
| EURGBP Spread | 2.1 | 1.5 |
| Assets | 35 | 55+ |
| Currency Indices | – |
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| Cryptocurrency | ||
| Overview | 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. | XM offers a handful of cryptocurrencies against the USD via the South African entity only. These are tradable via CFDs with very high leverage up to 1:500, amplifying potential returns but also losses. You can day trade major tokens like Bitcoin, Ethereum and Ripple, though the suite of tokens trails the 100+ crypto derivatives at some category leaders. |
| Spread | Variable | Variable |
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| Crypto Lending | No | No |
| Crypto Mining | No | No |
| Crypto Staking | No | No |
| Auto Market Maker | No | No |