If you are reading this article, you’re likely having trouble deciding whether Eightcap or Octa is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.
In this Eightcap vs Octa review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- Octa vs Eightcap - Verdict
Comoros Australia CySEC, FSCA, MWALI International Services Authority ASIC, CySEC, FCA, SCB 2011 2009 Market Maker ECN/STP, Market Maker $25 $100 MetaTrader 4, MetaTrader 5, Proprietary platform MetaTrader 4, MetaTrader 5, Trading View 0.9 pips 1.0 pips 1.3 pips 1.2 pips $0.07 $0.03 $0.30 $0.12 67.65% N/A Not applicable N/A 0.6 pips N/A Commission-free $7.00 per Round Lot Visit Website Visit Website
Features and Platforms
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Eightcap, based in Australia, maintains the core MT4/MT5 trading platforms, upgraded via the Amazing Trader plugin and the active TradingView community, and recently expanded its trading environment with Capitalise AI. It allows traders to automate trading with natural language input that requires no coding skills. Other notable features are quality in-house research, education, and excellent trade execution. Octa provides traders with MT4/MT5 plus the Autochartist plugin and OctaTrader, with its unique Space feature. It has also developed its own proprietary copy trading platform.
Available Markets
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Eightcap features 40+ currency pairs versus 52 at Octa. The asset selection extends with four commodities and eleven index CFDs at Eightcap compared to five and ten at Octa. Eightcap maintains 900+ equity CFDs and 250+ cryptocurrencies, while Octa has zero and 34, respectively. Overall, Eightcap grants traders a balanced selection with 1,200+ assets. Octa maintains one of the smaller trading instrument selections in the industry.
Typical Spreads and Fees
0.9 pips 1.0 pips 1.3 pips 1.2 pips $0.07 $0.03 $0.30 $0.12 $11 $12 Not applicable N/A 0.6 pips N/A Commission-free $7.00 per Round Lot N/A No No Visit Website Visit Website
Eightcap deploys an expensive commission-free pricing environment with a minimum mark-up of 1.0 pips or $10 per 1.0 standard lot. Octa counters with 0.6 pips or $6 per lot. The commission-based alternative at Eightcap shows raw spreads of 0.0 pips for a cost of $7 per lot. Octa lists an expensive commission-based option with spreads from 0.8 pips for a commission between $4.00 and $6.00. The Status Level reward program decreases costs further. Eightcap levies swap rates on leveraged overnight positions, while Octa applies a mix of fees labeled differently. Third-party payment processor fees apply equally.
Security and Trust
Cyprus, Comoros, South Africa Australia, The Bahamas, Cyprus, United Kingdom CySEC, FSCA, MWALI International Services Authority ASIC, CySEC, FCA, SCB 372/18, 51913, HY00623410 391441, 40377, 246/14, 921296 Visit Website Visit Website
The Australian Securities & Investments Commission (ASIC) is the primary regulator at Eightcap. Additional oversight exists from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Securities Commission of The Bahamas (SCB). Eightcap also has a subsidiary in St. Vincent and the Grenadines. Octa is regulated by CySEC, by the South African FSCA, as well as the Mwali International Services Authority. Both brokers segregate client deposits and offer negative balance protection.
Octa vs Eightcap – Verdict
Eightcap continues to improve its trading environment, geared primarily towards equity traders. Only the out-of-the-box MT4/MT5 trading platforms are available, upgraded via the Amazing Trader plugin and the active TradingView community. Adding Capitalise AI delivered a competitive edge only a few brokers provide. Eightcap publishes in-house research and maintains quality educational content. Octa presents more trading platform choices with OctaTrader and a proprietary mobile app, ranking among the smallest industry-wide, but the commission-free cost structure is competitive. Octa remains a rare broker where the commission-based alternative remains notably more expensive. Copy traders may benefit from the in-house platform at Octa, but Eightcap is the superior choice for most traders.
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