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OctaFX vs IC Markets
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Updated:
Compare OctaFX Vs IC Markets Side by Side
Not sure which broker to choose OctaFX vs IC Markets suitable for your trading needs? We made a detailed comparison between OctaFX Review and IC Markets 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 | OctaFX | IC Markets |
|---|---|---|
| Website | //www.octafx.com | //www.icmarkets.com |
| Founded year | 2011 | 2007 |
| Headquarter | SVG, Cyprus | Australia |
| Licenses | CySEC, SVG FSA | Australia, Cyprus, Seychelles |
| Minimum Deposit | US$ 25 | 200 US$ |
| Trading Platforms | MT4, MT5, OctaTrader | cTrader, MT4, MT5 |
| Eurusd avg Spread | 0.5 pips | 1 pip |
Licenses
| Feature | OctaFX | IC Markets |
|---|---|---|
| Licenses Countries Info (short) |
|
|
OctaFX primarily operates within the regulatory framework of CySEC. While CySEC’s oversight may be perceived as somewhat less stringent compared to the UK, it still maintains a high level of reputation, providing robust safeguards for traders and favorable trading conditions. In contrast, IC Markets adheres to stringent regulatory standards across multiple jurisdictions, including Australia, Cyprus, and Seychelles.
Broker Types
| Feature | OctaFX | IC Markets |
|---|---|---|
| Broker types |
|
|
OctaFX utilizes a blend of STP and ECN execution methods, tailoring them to the selected account type to accommodate the varied preferences of traders. In contrast, IC Markets exclusively functions as an ECN broker, establishing a direct connection between traders and liquidity sources. This approach fosters transparency by eliminating the necessity for a dealing desk and results in more competitive spreads owing to its direct access to interbank prices.
Trading Conditions
| Feature | OctaFX | IC Markets |
|---|---|---|
| Trading Conditions |
|
|
OctaFX offers appealing spreads, along with cost-effective features and a comprehensive set of trading tools. In contrast, IC Markets is renowned for its favorable trading conditions, characterized by rapid order execution and tight spreads, making it an attractive choice for traders who prioritize swift transaction processing.
Fees & Commissions
| Fees & Commissions | OctaFX | IC Markets |
|---|---|---|
| Inactivity Feemonth | 0 $ | 0 $ |
| Deposit fee | 0 $ | 0 $ |
| Withdrawal fee | 0 $ | 0 $ |
| Rollover fee eurusd buy 1 lot | -0.103 | -0.62 |
| Rollover fee eurusd sell 1 lot | -0.064 | 0.41 |
| Avg Eurusd standard acc | 0.5 pips | 1 pips |
| Gold | 20 | 1 |
| Brent oil | 2 pips | 5 pip |
| Bitcoin | 7.5 | 42.036 |
OctaFX distinguishes itself through its cost-effective approach, featuring reduced spreads and commission-free trading. Moreover, they offer an account choice with zero spreads and avoid additional fees. On the other hand, IC Markets provides access to raw spreads as minimal as 0.0 pips for a commission of $7 per round lot.
Account Types
| Feature | OctaFX | IC Markets |
|---|---|---|
| Account types |
|
|
Both brokers provide a Standard account option for traders, allowing customization into corporate or Swap-Free Islamic accounts as needed. Furthermore, they offer MAM and PAMM account choices for those handling multiple accounts or wishing to allocate trades across various accounts. These account types prove especially advantageous for money managers and investors seeking a unified platform to oversee their trading activities.
Markets & Instruments
| Markets & Instruments | OctaFX | IC Markets |
|---|---|---|
| Forex | 32 | 60 |
| Indices | 10 | 23 |
| Commodities | 5 | 19 |
| Cryptocurrencies | 5 | 10 |
| Shares | ❌ | 120+ |
| Bonds | ❌ | 9+ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | 4 |
| Etfs | ❌ | ❌ |
OctaFX vs IC Markets provide access to similar market segments including forex, commodities, crypto, and indices. However, IC Markets boausts a greater variety of markets including shares, bonds, and futures in its offerings.
Trading Platforms
| Feature | OctaFX | IC Markets |
|---|---|---|
| Platforms |
|
|
OctaFX offers a wide range of trading platforms, including the well-known MT4 and MT5 platforms, which are renowned for their extensive set of trading tools such as EAs. Additionally, OctaFX has introduced its in-house proprietary trading platform, designed for user-friendliness and a streamlined trading experience. In contrast, IC Markets provides traders with a comprehensive MetaTrader suite, featuring both MT4 and MT5, and also offers cTrader, a sophisticated trading platform designed to cater to the needs of discerning traders.
Deposit & Withdrawal Methods
| Feature | OctaFX | IC Markets |
|---|---|---|
| Payment methods |
|
|
Both brokers prioritize swift financial transactions and do not impose extra fees for deposits or withdrawals. They offer a variety of payment options, including credit/debit card transactions, bank transfers, and various e-wallet solutions. It’s worth noting that IC Markets has a slightly wider range of e-wallet options compared to its counterpart.
Others
| Feature | OctaFX | IC Markets |
|---|---|---|
| Others |
|
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Both OctaFX and IC Markets maintain a high standard of customer service, diligently attending to traders’ inquiries through live chats, phone lines, email communication, and more. Regarding educational resources, they both offer a wealth of materials. From interactive webinars and informative video tutorials to comprehensive market analyses and written guides, IC Markets accommodates traders looking to improve their market expertise. OctaFX similarly provides a robust educational framework, catering to traders of varying experience levels.
Conclusion on IC Markets vs OctaFX
In conclusion, when comparing OctaFX and IC Markets, it’s clear that both brokers excel in terms of credibility and reliability, offering trading conditions that meet global standards, featuring competitive spreads and a wide range of market options. OctaFX takes the lead with its cost-effective approach, featuring more attractive spreads and lower overall commissions. However, for traders who prioritize advanced trading features, IC Markets stands out as the preferred choice. Here is our final recommendation:
- OctaFX –
Best MetaTrader Broker for offering high-tech access to an expanded range of instruments and multiple platforms. - IC Markets — Best CFD Bonds Broker for an optimized trading experience and Good platform selection
