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FP Markets vs OctaFX
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Compare FP Markets vs OctaFX Side by Side
Selecting between FP Markets vs OctaFX and wondering which broker os the best for your requirements? We compiled a thorough comparison review between FP Markets Review and OctaFX Review, comparing safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details side by side.
Summary
| Feature | FP Markets | OctaFX |
|---|---|---|
| Website | //www.fpmarkets.com | //www.octafx.com |
| Founded year | 2005 | 2011 |
| Headquarter | Australia | SVG, Cyprus |
| Licenses | Australia, Cyprus, South Africa, St. Vincent and the Grenadines | CySEC, SVG FSA |
| Minimum Deposit | USD$ 100 | US$ 25 |
| Trading Platforms | IRESS, MT4, MT5, cTrader | MT4, MT5, OctaTrader |
| Eurusd avg Spread | 0.7 pips | 0.5 pips |
Licenses
| Feature | FP Markets | OctaFX |
|---|---|---|
| Licenses Countries Info (short) |
|
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FP Markets is fully licensed and regulated in a number of jurisdictions including Australian ASIC and CySEC in Cyprus, as well as expanding their regulatory presence to encompass South Africa and Seychelles, enabling them to serve traders globally. OctaXF on the other hand is regulated in Cyprus and Saint Vincent and the Grenadines and doesn’t hold any Top-tier licenses
Broker Types
| Feature | FP Markets | OctaFX |
|---|---|---|
| Broker types |
|
|
FP Markets operates as a broker with a hybrid execution model, combining ECN and DMA approaches to ensure tighter spreads and a more cost-efficient trading environment, particularly in liquid market conditions. While OctaFX primarily functions as an ECN/STP broker, which facilitates direct market access and speedy order execution
Trading Conditions
| Feature | FP Markets | OctaFX |
|---|---|---|
| Trading Conditions |
|
|
In terms of trading conditions, FP Markets and OctaFX provide similar trading opportunities. They accommodate a wide range of trading strategies, such as scalping and hedging, and equip traders with an extensive set of tools. Both platforms enable traders to utilize high leverage for their trades, offering ultra-low spreads alongside comprehensive auto-trading tools.
Fees & Commissions
| Fees & Commissions | FP Markets | OctaFX |
|---|---|---|
| Inactivity Feemonth | $0 | 0 $ |
| Deposit fee | $0 | 0 $ |
| Withdrawal fee | $0 | 0 $ |
| Rollover fee eurusd buy 1 lot | -5.91 | -0.103 |
| Rollover fee eurusd sell 1 lot | 3.92 | -0.064 |
| Avg Eurusd standard acc | 0.7 pips | 0.5 pips |
| Gold | 16 cents | 20 |
| Brent oil | 3 pips | 2 pips |
| Bitcoin | 62 | 7.5 |
FP Markets and OctaFX share similar fee structures with low spreads. Both brokers do not impose non-trading commissions, such as those related to deposits, withdrawals, or account inactivity. While neither broker charges trading commissions for their standard accounts, as these costs are integrated into the spreads, it’s important to note that nominal commissions may still apply to specific account types.
Account Types
| Feature | FP Markets | OctaFX |
|---|---|---|
| Account types |
|
|
Both brokers provide a range of account options, including a Standard Account, as well as various account types designed to suit different trading styles. This encompasses a swap-free or Islamic account option for traders adhering to Sharia principles. Additionally, both brokers include a Micro Account in their lineup, often appealing to beginners due to its lower entry requirements and reduced risk exposure.
Markets & Instruments
| Markets & Instruments | FP Markets | OctaFX |
|---|---|---|
| Forex | 70 | 32 |
| Indices | ✔️ | 10 |
| Commodities | ✔️ | 5 |
| Cryptocurrencies | 5 | 5 |
| Shares | 10,000 | ❌ |
| Bonds | ✔️ | ❌ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ❌ | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | ❌ |
| Etfs | ✔️ | ❌ |
In the realm of market offerings, FP Markets stands out by providing a broader array of options. It offers a diverse selection, encompassing FX pairs, indices, commodities, cryptocurrencies, a wide variety of shares, bonds, and ETFs. In contrast, OctaFX offers a more limited selection, focusing on FX pairs, commodities, indices, and cryptocurrencies, with a more constrained range of instruments available for trading.
Trading Platforms
| Feature | FP Markets | OctaFX |
|---|---|---|
| Platforms |
|
|
FP Markets provides a diverse array of trading platforms, including the industry-standard MT4 and its advanced counterpart MT5, along with the sophisticated cTrader platform tailored for technical trading enthusiasts. Additionally, they offer the proprietary IRESS platform, designed for global Futures and Equities trading. In contrast, OctaFX offers its proprietary platform along with the MT4 and MT5 platforms.
Deposit & Withdrawal Methods
| Feature | FP Markets | OctaFX |
|---|---|---|
| Payment methods |
|
|
Both FP Markets and OctaFX offer comparable deposit methods, encompassing Debit/Credit Cards, Bank Transfers, and Bitcoin transfers, as well as a selection of e-wallets like PayPal and Neteller. However, it’s worth noting that OctaFX has a more limited range of e-wallet options available for deposits.
Others
| Feature | FP Markets | OctaFX |
|---|---|---|
| Others |
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FP Markets and OctaFX both excel in providing excellent customer service. FP Markets offers round-the-clock support through email, phone, and live chat, maintaining a high standard of professionalism. Both brokers prioritize trader education, catering to individuals of all skill levels by offering a wide range of educational materials, including guides, video tutorials, webinars, and comprehensive market research tools.
Conclusion on OctaFX vs FP Markets
In conclusion, after reviewing FP Markets and OctaFX, both brokers uphold strong reputations and prioritize client protection while offering comprehensive global trading solutions. Their cost structures closely align, featuring low spreads and similar trading conditions, account types, and platforms. While their selection of trading instruments is nearly equal, FP Markets distinguishes itself with a more extensive range of Shares CFDs. Conversely, traders who prefer the cTrader platform may find OctaFX to be a suitable choice. Here is our final recommendation:
- FP Markets – 🥇Best Share Trading Broker with lowest spreads and commendable trading conditions and best educational resources
- OctaFX – 🥇Best Swing Trading Broker offering a good range of trading instruments while providing exceptional trading conditions and safety
