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XM vs OctaFX
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Updated:
Compare XM vs OctaFX Side by Side
Selecting between XM vs OctaFX and would like to see who is a better Broker for your trading strategy? We made a detailed comparison between XM 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 | XM | OctaFX |
|---|---|---|
| Website | //xm.com | //www.octafx.com |
| Founded year | 2009 | 2011 |
| Headquarter | Cyprus, Australia, Belize | SVG, Cyprus |
| Licenses | Cyprus, Australia, Belize, UAE | CySEC, SVG FSA |
| Minimum Deposit | 5 US$ | US$ 25 |
| Trading Platforms | MT4, MT5, XM WebTrader | MT4, MT5, OctaTrader |
| Eurusd avg Spread | 1.6 pips | 0.5 pips |
Licenses
| Feature | XM | OctaFX |
|---|---|---|
| Licenses Countries Info (short) |
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XM and OctaFX are both highly regarded, but XM stands out due to its affiliations with several regulatory bodies, notably the esteemed ASIC known for its strict standards and robust client protection. Conversely, OctaFX operates under the supervision of CySEC, which, though a bit more flexible, is still well-respected.
Broker Types
| Feature | XM | OctaFX |
|---|---|---|
| Broker types |
|
|
Both XM and OctaFX Brokers operate as ECN/STP/NDD, ensuring efficient automated trading. They cater to a range of strategies, making them suitable for both retail and institutional traders.
Trading Conditions
| Feature | XM | OctaFX |
|---|---|---|
| Trading Conditions |
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The trading conditions offered by both brokest are beginner-friendly, allowing newcomers to navigate the markets confidently. They provide flexibility in trading approaches, including strategies like hedging and scalping, which can be beneficial for traders at all experience levels. XM is notable for its commission choices, zero spreads, and strong copy trading features. On the other hand, OctaFX highlights its low spreads and floating spread accounts, offering attractive pricing options.
Fees & Commissions
| Fees & Commissions | XM | OctaFX |
|---|---|---|
| Inactivity Feemonth | 15 $ | 0 $ |
| Deposit fee | 0 $ | 0 $ |
| Withdrawal fee | 0 $ | 0 $ |
| Rollover fee eurusd buy 1 lot | -0.083 | -0.103 |
| Rollover fee eurusd sell 1 lot | -0.543 | -0.064 |
| Avg Eurusd standard acc | 1.6 pips | 0.5 pips |
| Gold | 35 | 20 |
| Brent oil | 5 pips | 2 pips |
| Bitcoin | 60 | 7.5 |
Neither broker imposes deposit/withdrawal fees, but XM does have an inactivity fee, making OctaFX more appealing to traders. Regarding spreads, OctaFX holds a slight edge by offering some of the industry’s lowest, while XM’s spreads tend to be slightly above the industry norm.
Account Types
| Feature | XM | OctaFX |
|---|---|---|
| Account types |
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Comparing XM vs OctaFX offerings include Standard Accounts. For traders adhering to Sharia principles, they offer SWAP Free or Islamic accounts, which support long-term position holding. Moreover, both brokers feature a Micro Account, which is typically more fitting for beginners because of its reduced requirements and associated risks.
Markets & Instruments
| Markets & Instruments | XM | OctaFX |
|---|---|---|
| Forex | 55 | 32 |
| Indices | 28 | 10 |
| Commodities | 15 | 5 |
| Cryptocurrencies | 60 | 5 |
| Shares | 600 | ❌ |
| Bonds | ❌ | ❌ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ❌ | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | ❌ |
| Etfs | ❌ | ❌ |
OctaFX and XM offer a variety of trading instruments, with many similarities between them. The range of assets available is limited for both brokers. However, a distinct advantage for OctaFX is its provision for trading Shares.
Trading Platforms
| Feature | XM | OctaFX |
|---|---|---|
| Platforms |
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Both Forex brokers offer users access to the highly-regarded and robust trading platforms, MT4 and MT5. Additionally, they both feature the WebTrader platform making XM alike OctaFX offering competitive enough.
Deposit & Withdrawal Methods
| Feature | XM | OctaFX |
|---|---|---|
| Payment methods |
|
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Both XM and OctaFX offer similar payment methods, including bank transfers, debit/credit cards, and several widely used e-wallets. Neither broker charges additional fees for deposits or withdrawals and ensures swift money transfers.
Others
| Feature | XM | OctaFX |
|---|---|---|
| Others |
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XM and OctaFX delivering professional-level customer service and support. When it comes to educational materials, OctaFX offers well-structured and comprehensive resources. Meanwhile, XM provides tailored learning opportunities based on a user’s level, featuring live education sessions, educational videos, and Forex webinars.
Conclusion on OctaFX vs XM
Concluding XM vs OctaFX comparison we found that both brokers are trustworthy with strong regulatory foundations. They both offer similar trading conditions, fees, and platform options. However, OctaFX boasts significantly lower spreads compared to XM. For those interested in CFD Shares trading, OctaFX might be the preferable choice. Here is our final recommendation:
- XM – 🥇Best News Trading Broker for Beginners for bringing opportunity to trade
- OctaFX – 🥇Best Online Forex Trading Experience for offering high-tech access to a great range of instruments and lowest spreads
