If you are reading this article, you’re likely having trouble deciding whether Exness 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 Exness 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
- Exness vs Octa - Verdict
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Headquarters | Cyprus | Comoros |
Regulators | CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCA | CySEC, FSCA, MWALI International Services Authority |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2008 | 2011 |
Execution Type(s) | Market Maker | Market Maker |
Minimum Deposit | $10 (based on the account type) | $25 |
Negative Balance Protection | ||
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, Proprietary platform |
Average Trading Cost EUR/USD | 0.6 pips | 0.9 pips |
Average Trading Cost GBP/USD | 0.7 pips | 1.3 pips |
Average Trading Cost WTI Crude Oil | 6.7 pips | $0.07 |
Average Trading Cost Gold | 11.3 pips | $0.30 |
Retail Loss Rate | Undisclosed | 67.65% |
Minimum Raw Spreads | 0.0 pips | Not applicable |
Minimum Standard Spreads | 0.3 pips | 0.6 pips |
Minimum Commission for Forex | $7.00 per 1.0 standard round lot | Commission-free |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Visit Website | Visit Website |
Features and Platforms
Traders at Exness may use the out-of-the-box MT4/MT5 trading platforms, but none of the necessary third-party plugins are available. Exness does offer VPS hosting in support of automated trading solutions but fails to provide clients with research or education for beginner traders. The only value-added service is the WebTV by Trading Central. Octa also offers MT4/MT5 but upgrades both with the Autochartist plugin. The OctaTrader trading platform is also available together with its proprietary copy trading platform. Traders can also benefit from the bonus structure at Octa together with reduced swap rates.
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MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | ||
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | ||
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Visit Website | Visit Website |
Available Markets
Forex traders have access to one of the best asset selections at Exness, which maintains 107 currency pairs. Unfortunately, the rest of the trading instruments remain below average. Exness features seven cryptocurrency pairs, twelve commodities, and 81 equity and index CFDs. Despite the overall limited choice of trading instruments at Exness, it trumps Octa.Traders have only 52 currency pairs, ranking among the narrowest selections industry-wide, 34 cryptocurrencies, five commodities, and ten index CFDs. Where Exness provides Forex traders with an edge, Octa fails to serve any trader well and has one of the least varied overall asset choices.
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Currency Pairs | ||
Cryptocurrencies | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | ||
ETFs | ||
Options | N/A | |
Futures | ||
Synthetics | ||
| Visit Website | Visit Website |
Typical Spreads and Fees
The Standard account at Exness shows a minimum mark-up of 1.0 pips or $10 per 1.0 lots, which is expensive. Costs improve to a commission-free spread of 0.6 pips or $6, but Exness asks for a deposit of $3,000. Octa presents the same 0.6 pips mark-up, but it is available for all traders. Both brokers offer a commission-based alternative, which is more expensive than the commission-based one, but the Octa Status Level reward program lowers overall trading costs. Traders will also pay swap rates on leveraged overnight positions, but Octa labels them differently, clouding cost transparency.
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Average Trading Cost EUR/USD | 0.6 pips | 0.9 pips |
Average Trading Cost GBP/USD | 0.7 pips | 1.3 pips |
Average Trading Cost WTI Crude Oil | 6.7 pips | $0.07 |
Average Trading Cost Gold | 11.3 pips | $0.30 |
Average Trading Cost Bitcoin | 161.1 pips | $11 |
Minimum Raw Spreads | 0.0 pips | Not applicable |
Minimum Standard Spreads | 0.3 pips | 0.6 pips |
Minimum Commission for Forex | $7.00 per 1.0 standard round lot | Commission-free |
Deposit Fee | ||
Withdrawal Fee | ||
Inactivity Fee | No | No |
| Visit Website | Visit Website |
Security and Trust
Traders at Exness will deal either with its Nymstar or Vlerizo subsidiaries. They remain regulated by the Seychelles FSA and the South African FSCA, respectively. Exness maintains two units, one licensed by the UK FCA and one by the CySEC, but both shut their retail divisions, focusing solely on business-to-business operations. Octa is licensed by CySEC and is also regulated by the South African FSCA, as well as the Mwali International Services Authority.
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Country of the Regulator | Cyprus, Kenya, Mauritius, Seychelles, United Kingdom, British Virgin Islands, South Africa, Curaçao | Cyprus, Comoros, South Africa |
Name of the Regulator | CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCA | CySEC, FSCA, MWALI International Services Authority |
Regulatory License Number | SD025, 0003LSI, SIBA/L/20/1133, 51024, GB20025294, 178/12, 730729, 162 | 372/18, 51913, HY00623410 |
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Exness vs. Octa: Verdict
Exness has undergone drastic changes since launching in 2008, and it continues to react to counter-productive regulatory changes by Tier1 regulators. The most visible evidence is the closure of the Exness retail operations in the UK and Cyprus. Exness converted into an execution-only Forex broker, with no research and educational content. It shines with 107 currency pairs and supports automated trading with VPS hosting, but the cost structure is expensive for portfolios below $3,000.
Octa, founded in 2011, presents four trading platforms and a competitive pricing environment. Regrettably, asset selection ranks among the worst compared to all brokers. It provides traders with the MT4/MT5 Autochartist plugin, but traders must qualify for it via trading activity. Both brokers offer a more expensive commission-based cost structure than the commission-free one, a rare occurrence. Exness shines with its Forex selection, Octa with its proprietary copy-trading platform and bonus structure.
Octa lists withdrawal times for most online payment processors between one hour and three hours plus five minutes for the fund transfer. Exness offers instant withdrawals to qualifying traders and supporting online payment processors, which takes a few seconds without manual approval by the finance department. Bank wires and credit card withdrawals may take up to ten business days at Exness.
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