FBS, founded in 2009, and Octa, operational since 2011, established themselves as leading choices for social traders. Both developed proprietary copy trading services and offer the MT4/MT5 trading platforms with their integrated services. The FBS trading community counts 23+ million traders, and Octa is home to 10+ million trading accounts.
The minimum deposit at FBS of $1 and Octa of $25 ensures that both are accessible to all traders, as they accept traders from 150+ countries. While the maximum leverage of 1:3000 is higher at FBS, most traders will use 1:500, available at FBS and Octa alike. Their similarities extend with generous bonuses and quality education for beginner traders.
We have conducted an in-depth review of FBS and Octa to determine which one presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- FBS versus Octa- Verdict
 |  | |
Headquarters | Comoros | Belize |
Regulators | CySEC, FSCA, MWALI International Services Authority | ASIC, CySEC, FSC Belize |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2011 | 2009 |
Execution Type(s) | Market Maker | ECN/STP |
Minimum Deposit | $25 | $5 |
Negative Balance Protection | ||
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform | Other, MetaTrader 4, MetaTrader 5+ |
Average Trading Cost EUR/USD | 0.9 pips | $11.00 |
Average Trading Cost GBP/USD | 1.3 pips | $14.00 |
Average Trading Cost WTI Crude Oil | $0.07 | $0.05 |
Average Trading Cost Gold | $0.30 | $0.31 |
Retail Loss Rate | 67.65% | 69.21% |
Minimum Raw Spreads | Not applicable | Not applicable |
Minimum Standard Spreads | 0.6 pips | 0.7 pips |
Minimum Commission for Forex | Commission-free | Commission-free |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Visit Website | Visit Website |
Features and Platforms
| | |
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 |
Noteworthy:
Besides their copy trading services, FBS and Octa developed proprietary mobile trading apps. They target their core market, millennial and GenZ traders, where social trading remains a popular, high-growth trading approach.
Available Markets
| | |
Currency Pairs | ||
Cryptocurrencies | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | ||
ETFs | ||
Options | ||
Futures | ||
Synthetics | ||
| Visit Website | Visit Website |
Forex traders get 37 currency pairs at FBS and 52 at Octa, making both suitable for trading strategies requiring fewer assets but liquid ones with lower spreads. FBS offers 30 cryptocurrency pairs and Octa offers 34, further strengthening their appeal for their core market. FBS additionally maintains large-cap equity CFDs, a sector notably missing at Octa.
Typical Spreads and Fees
| | |
Average Trading Cost EUR/USD | 0.9 pips | $11.00 |
Average Trading Cost GBP/USD | 1.3 pips | $14.00 |
Average Trading Cost WTI Crude Oil | $0.07 | $0.05 |
Average Trading Cost Gold | $0.30 | $0.31 |
Average Trading Cost Bitcoin | $11 | $20.00 |
Minimum Raw Spreads | Not applicable | Not applicable |
Minimum Standard Spreads | 0.6 pips | 0.7 pips |
Minimum Commission for Forex | Commission-free | Commission-free |
Deposit Fee | ||
Withdrawal Fee | ||
Inactivity Fee | No | N/A |
| Visit Website | Visit Website |
The commission-free pricing environment at FBS starts from 0.5 pip or $5.00 per 1 standard lot and 0.6 pips or $6.00 at Octa. FBS offers a commission-based alternative, where average mark-ups create more expensive costs. Octa offers swap-free trading in its MT5 account, resulting in a pricing advantage for leveraged strategies.
Security and Trust
| | |
Country of the Regulator | Cyprus, Comoros, South Africa | Australia, Belize, Cyprus |
Name of the Regulator | CySEC, FSCA, MWALI International Services Authority | ASIC, CySEC, FSC Belize |
Regulatory License Number | 372/18, 51913, HY00623410 | 000102/6, 331/17, 426359 |
Regulatory Tier | N/A | 4, 1, 1 |
| Visit Website | Visit Website |
FBS enjoys a clean regulatory record. Equally, Octa operates from Cyprus regulated by CySec, and it is also licensed by the South African FSCA, and the Mwali International Services Authority. Octa earned a trustworthy reputation, equal to FBS, thanks to its well-established history.
Octa vs FBS – Verdict
FBS
Pros | Cons |
|---|---|
| Low Forex trading costs from $5.00 per 1 standard lot | Limited overall asset selection |
| Competitive choice of cryptocurrencies | |
| Proprietary copy trading service and one of the largest trading communities | |
| Minimum deposit of $1 with maximum leverage of 1:3000 |
Octa
Pros | Cons |
|---|---|
| Low minimum deposit and high leverage up to 1:1000 | Limited overall asset selection |
| Swap-free trading in the Octa MT5 account | |
| Competitive selection of cryptocurrencies | |
| Large trading community and proprietary copy trading service |
FBS and Octa execute a similar business model and cater to identical core markets, millennial and GenZ traders. Both have large trading communities, a proprietary copy trading service, an in-house developed mobile app, and a competitive choice of cryptocurrencies. With quality education, generous bonuses, and the MT4/MT5 trading platforms available at both, Octa pulls ahead due to lower costs with swap-free trading in its MT5 accounts and the Autochartist plugin.
FBS is home to 23+ million traders from 150+ countries and established itself as one of the most trusted brokers industry-wide with a clean regulatory record.
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FAQs
Is FBS a good Forex broker?
FBS offers a highly competitive trading environment with low costs and quality education for beginners, placing it among the best brokers.
Can Octa be trusted?
Octa operates from Cyprus regulated by CySEC, and it is also licensed by the South African FSCA, and the Mwali International Services Authority. It has also established itself with its clients as a trustworthy broker, offering negative balance protection, and segregation of client deposits.
How trusted is FBS?
FBS is home to 23+ million traders from 150+ countries and established itself as one of the most trusted brokers industry-wide with a clean regulatory record.