Octa versus FP Markets
FP Markets upgrades its MT4/MT5 trading platforms with twelve plugins and Autochartist, creating a competitive solution for manual, algorithmic, and copy trading. Additionally, manual traders may use the Iress trading platform, but availability remains geographically restricted. The in-house social trading service and Myfxbook Autotrade expand social and copy trading choices while MAM/PAMM modules support asset managers.
Octa established itself as a leading social trading broker on the back of its proprietary copy trading service, user-friendly mobile app, and 42M+ accounts. Traders may use the MT4/MT5 trading platforms, upgraded with the Autochartist plugin and OctaTrader with its unique Space feature. It also relies on generous incentives with $15M+ in paid-out bonuses.
We have conducted an in-depth review of FP Markets and Octa to determine which 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
- Octa versus FP Markets - Verdict
Australia Comoros ASIC, CMA, CySEC, FSCA CySEC, FSCA, MWALI International Services Authority 2005 2011 ECN/STP Market Maker $100 $25 MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based MetaTrader 4, MetaTrader 5, Proprietary platform 1.2 pips 0.9 pips 1.4 pips 1.3 pips $0.02 $0.07 $0.16 $0.30 70.70% 67.65% 0.0 pips Not applicable 1.0 pips 0.6 pips $6.00 per Round Lot Commission-free Get Started Get Started
Features and Platforms
Get Started Get Started
Noteworthy:
FP Markets and Octa offer beginners quality education and research. The former provides VPS hosting for algorithmic traders, while the latter rewards active traders with lucrative giveaways based on trading volume.
Available Markets
| | |
Currency Pairs | ||
Cryptocurrencies | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | ||
ETFs | ||
Options | ||
Futures | ||
Synthetics | ||
| Get Started | Get Started |
Traders at FP Markets get a balanced asset selection in the Iress trading platform, where 10,000+ assets await. The choice of trading instruments for MT5 remains above 1,000 and better than Octa, primarily Forex, which features 60+ currency pairs versus 50+. Octa bests FP Markets with its cryptocurrency selection but trails elsewhere.
Typical Spreads and Fees
1.2 pips 0.9 pips 1.4 pips 1.3 pips $0.02 $0.07 $0.16 $0.30 $21.08 $11 0.0 pips Not applicable 1.0 pips 0.6 pips $6.00 per Round Lot Commission-free No No Get Started Get Started
Forex costs at FP Markets feature a commission-based structure with raw spreads of 0.0 pips for a commission of $6.00. Octa counters with a commission-free alternative and a 0.6 pip mark-up or $6.00 per round lot but also provides a volume-based rebate program, resulting in an edge.
Security and Trust
Australia, Cyprus, Kenya, South Africa Cyprus, Comoros, South Africa ASIC, CMA, CySEC, FSCA CySEC, FSCA, MWALI International Services Authority 286354, 103, 371/18, 50926 372/18, 51913, HY00623410 Get Started Get Started
FP Markets and Octa are regulated brokers offering negative balance protection and segregating client deposits from corporate funds Both brokers have spotless records and provide clients with an equally secure and trustworthy environment.
FP Markets vs Octa – Verdict
FP Markets
| Pros | Cons |
| Choice of trading platforms and auxiliary trading tools | Availability of Iress geographically restricted |
| Very competitive cost structure and excellent asset selection | Limited commodities and metals selection |
| Low minimum deposit requirement and leverage of up to 1:500 | |
| Well-regulated and trustworthy |
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 |
Octa is a well-established international multi-asset broker, and its swap-free MT5 offer offers traders something interesting. It also shines with its cryptocurrency CFD selection and social trading environment. Both brokers offer deep liquidity. FP Markets takes an overall lead amid a broader choice of currency pairs, more options for social traders, plus a more competitive environment for algorithmic traders. It also provides traders with superior MT4/MT5 upgrades.
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FAQs
Which platform is best for Octa?
Octa offers traders MT4 and MT5, upgraded with the Autochartist plugin. While MT4 features more plugins and EAs, Octa offers swap-free MT5 trading, making it the better choice from a cost perspective.
Is Octa a good platform?
Octa established itself as a well-established international multi-asset broker but is not regulated.
Is FP Markets a true ECN?
FP Markets offers genuine ECN trading in its MT4 and MT5 platforms with raw spreads from 0.0 pips and a competitive commission-based cost structure.
How long does it take to withdraw from FP Markets?
FP Markets notes withdrawal times for most payment processors as one to two business days, except for bank wires, which can take up to five days.
Is FP Markets a regulated broker?
FP Markets has regulatory licenses in Australia and Cyprus but caters to most traders from its unregulated but duly registered St. Vincent and the Grenadines subsidiary.
Is Octa Halal?
Octa offers swap-free trading in its MT5 trading platform, which is an element of sharia compliance.