Advertising Disclosure
eToro vs OctaFX
-
Updated:
Compare eToro vs OctaFX Side by Side
Don’t know which broker eToro or OctaFX to choose to suit your trading needs? Explore our comprehensive eToro Review and OctaFX Review comparison guide. We examined deeply the critical aspects you need to consider, such as safety protocols, licensing, trading terms, and fee structures, as well as evaluated platforms and instruments available by comparing them side by side.
Summary
| Feature | eToro | OctaFX |
|---|---|---|
| Website | //www.etoro.com | //www.octafx.com |
| Founded year | 2006 | 2011 |
| Headquarter | Israel | SVG, Cyprus |
| Licenses | UK, Australia, Cyprus, Seychelles | CySEC, SVG FSA |
| Minimum Deposit | 50 US$ | US$ 25 |
| Trading Platforms | eToro platform | MT4, MT5, OctaTrader |
| Eurusd avg Spread | 0.97 pip | 0.5 pips |
Licenses
| Feature | eToro | OctaFX |
|---|---|---|
| Licenses Countries Info (short) |
|
|
Both eToro and OctaFX are regulated brokers enjoying high reputations in the trading community. However, eToro operates under a stricter regulatory framework, governed by top-tier authorities in the UK and Australia, presenting a more secure environment for traders.
In contrast, OctaFX is regulated solely by CySEC — a reputable, yet somewhat more lenient regulatory body. Moreover, both brokers have established offshore entities to cater to clients globally, further extending their reach and service provisions.
Broker Types
| Feature | eToro | OctaFX |
|---|---|---|
| Broker types |
|
|
eToro operates as a Market Maker Broker, which means it facilitates trading by acting as the counterparty to its clients’ trades and offers unique features such as social trading. On the other hand, OctaFX follows a mix of STP and ECN models, which provides direct access to liquidity providers and often results in faster execution and potentially tighter spreads.
Trading Conditions
| Feature | eToro | OctafX |
|---|---|---|
| Trading Conditions |
|
|
eToro vs OctaFX provide relatively similar trading conditions both being suitable for beginners and offering low spreads to its traders and giving them opportunities to use different trading strategies, however, eToro puts restrictions on scalping, hence for scalpers, OctaFX might be a preferable choice.
Fees & Commissions
| Fees & Commissions | eToro | OctaFX |
|---|---|---|
| Inactivity Feemonth | $10 | 0 $ |
| Deposit fee | 0$ | 0 $ |
| Withdrawal fee | 5$ | 0 $ |
| Rollover fee eurusd buy 1 lot | -0.00008269 | -0.103 |
| Rollover fee eurusd sell 1 lot | 0.00001841 | -0.064 |
| Avg Eurusd standard acc | 0.97 pip | 0.5 pips |
| Gold | 4.5 | 20 |
| Brent oil | 5 | 2 pips |
| Bitcoin | 102.71 | 7.5 |
OctaFX offers a better fee structure since it doesn’t charge any deposit, withdrawal, or inactivity fees, while eToro charges a $10 inactivity fee and a $5 withdrawal fee. Both brokers offer low trading spreads.
Account Types
| Feature | eToro | OctaFX |
|---|---|---|
| Account types |
|
|
Both brokers eToro vs OctaFX offer Standard accounts, and OctaFX account range is more diverse offering its clients under international regulation ECN and Pro accounts, as well as Micro account on MT4 platform. While eToro account types are geared towards different level of expertise and additional corporate requirements. Also, both brokers offer Islamic accounts for traders following Sharia laws.
Markets & Instruments
| Markets & Instruments | eToro | OctaFX |
|---|---|---|
| Forex | 52 | 32 |
| Indices | 21 | 10 |
| Commodities | 32 | 5 |
| Cryptocurrencies | 74 | 5 |
| Shares | 3203 | ❌ |
| Bonds | ❌ | ❌ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ❌ | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | ❌ |
| Etfs | 325 | ❌ |
Trading instruments offered by both eToro vs OctaFX are quite limited, which makes them similar. The number of the assets offered is also small for both brokers. The only advantage is probably that eToro has the advantage in the number of crypto trading offerings over 70 cryptocurrencies to trade
Trading Platforms
| Feature | eToro | OctaFX |
|---|---|---|
| Platforms |
|
|
The platform range of OctaFX is larger offering industry-standard MT4 and MT5 as well as its proprietary platform tailored to its users with unique features, while eToro offers only its proprietary platform which is more catered to beginners and is not that sophisticated.
Deposit & Withdrawal Methods
| Feature | eToro | OctaFX |
|---|---|---|
| Payment methods |
|
|
eToro and OctaFX facilitate a broad range of funding methods, including credit/debit cards and multiple e-wallets, affording traders a flexible approach to account management. However, eToro takes the lead with a more expansive variety of e-wallet alternatives, enhancing convenience for its users.
Others
| Feature | eToro | OctaFX |
|---|---|---|
| Others |
|
|
Both eToro and OctaFX brokers are highly proficient in delivering outstanding customer support through telephone, live chat, and email channels with a 24/5 availability. Education-wise, eToro has a better range of resources particularly suitable for beginner traders, while for OctaFX there’s no here is no education center or any learning materials about the trading process offered
Conclusion on OctaFX vs eToro
Concluding eToro vs OctaFX comparison we found both brokers deliver reliable trading solutions and overall are trustworthy. The offers of these brokers are quite similar, providing similar trading conditions and fees. For scalpers, OctFX emerges as the more suitable option given eToro’s restrictions on scalping activities. However, eToro has a stronger regulatory background and a better education giving an advantage to its trades and to the broker itself. Here is our final recommendation:
- eToro — 🥇Best Broker for Crypto Trading for a number of top traders and Best Industry Social Trading Broker
- OctaFX —
Best Auto Trading Broker offering automated trading useful capabilities for either beginning or professional trading.
