Octa vs HotForex

If you are reading this article, you’re likely having trouble deciding whether Octa or HotForex 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 HotForex 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 HotForex - Verdict

Headquarters	Saint Vincent and the Grenadines	Comoros
Regulators	CMA, CySEC, DFSA, FCA, FSA, FSC Mauritius, FSCA	CySEC, FSCA, MWALI International Services Authority
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established	2010	2011
Execution Type(s)	ECN/STP, Market Maker	Market Maker
Minimum Deposit	$0	$25
Negative Balance Protection	N/A
Trading Platform(s)	MetaTrader 4, MetaTrader 5, Proprietary platform	MetaTrader 4, MetaTrader 5, Proprietary platform
Average Trading Cost EUR/USD	1.3 pips	0.9 pips
Average Trading Cost GBP/USD	1.9 pips	1.3 pips
Average Trading Cost WTI Crude Oil	$0.06	$0.07
Average Trading Cost Gold	$0.27	$0.30
Retail Loss Rate	N/A	67.65%
Minimum Raw Spreads	N/A	Not applicable
Minimum Standard Spreads	N/A	0.6 pips
Minimum Commission for Forex	N/A	Commission-free
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
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Features and Platforms

MT4
MT5
MT4/MT5 Add-Ons	N/A
cTrader
Proprietary Platform
Automated Trading
Social/Copy Trading	N/A
DOM?
Guaranteed Stop Loss
Scalping
Hedging
One-Click Trading
OCO Orders
Interest on Margin
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HotForex, founded in 2010, is home to more than 2.5 million traders and established itself as a dominant broker. Octa, operational since 2011, lists 42 million trading accounts. Both deploy their proprietary copy trading service. HotForex and Octa present upgraded MT4/MT5 trading platforms, but Octa also has OctaTrader, with its Space tool, a built-in smart feed of customised trading ideas and market analysis. The Autochartist plugin is available at HotForex and Octa. Both brokers maintain a generous bonus system.

Available Markets

Currency Pairs	N/A
Cryptocurrencies	N/A
Commodities
Crude Oil
Gold
Metals
Equity Indices
Stocks (non-CFDs)
Bonds	N/A
ETFs
Options	N/A
Futures
Synthetics
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Traders at HotForex have access to 57 currency pairs, an average selection, while cryptocurrencies are notably absent from available markets. Other trading instruments consist of 13 commodities, 1,005 equity CFDs, eleven index CFDs, 34 ETFs, and three bond CFDs. Octa is home to a somewhat limited asset selection. With 52 currency pairs, 34 cryptocurrency pairs, five commodities, and ten index CFDs. HotForex achieves a more balanced choice of trading instruments versus Octa but does not have enough of a selection of cryptocurrencies, commodities, or indices.

Typical Spreads and Fees

Average Trading Cost EUR/USD	1.3 pips	0.9 pips
Average Trading Cost GBP/USD	1.9 pips	1.3 pips
Average Trading Cost WTI Crude Oil	$0.06	$0.07
Average Trading Cost Gold	$0.27	$0.30
Average Trading Cost Bitcoin	$76	$11
Minimum Raw Spreads	N/A	Not applicable
Minimum Standard Spreads	N/A	0.6 pips
Minimum Commission for Forex	N/A	Commission-free
Deposit Fee	N/A
Withdrawal Fee	N/A
Inactivity Fee	N/A	No
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One of the most notable differences between XM and HotForex is the pricing environment. Traders at XM get a commission-free mark-up of 0.6 pips or $6 per 1.0 standard lots. At HotForex, the minimum spread is an expensive 1.3 pips or $13. HotForex lists a commission-based alternative from 0.1 pips for a commission of $6 for a total cost of $7. The volume-based loyalty program lowers final trading costs. Equity CFD trading at XM remains commission-free but costs a minimum of 0.10% at HotForex. Direct share dealing at XM incurs a minimum commission of $10.00 or 0.10%.

Security and Trust

Country of the Regulator	United Arab Emirates, Cyprus, Kenya, Mauritius, Seychelles, United Kingdom, South Africa	Cyprus, Comoros, South Africa
Name of the Regulator	CMA, CySEC, DFSA, FCA, FSA, FSC Mauritius, FSCA	CySEC, FSCA, MWALI International Services Authority
Regulatory License Number	801701, 183/12, F004885, 46632, SD015, C110008214, 155	372/18, 51913, HY00623410
Regulatory Tier	1, 1, 2, 2, 4, 4, 2	N/A
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Both brokers have a well-established operational history. HotForex holds regulatory licenses from the UK FCA, CySEC, the DFSA, the FSCA, and the FSA. Despite the multitude of oversight from established regulatory bodies, the bulk of its international business derives from the unregulated subsidiary out of St. Vincent & the Grenadines. Octa has licenses from global regulators that include CySEC, FSCA and MISA. Both brokers segregate client deposits and offer negative balance protection.

HotForex vs. Octa : Verdict

HotForex offers traders an overall competitive product and services portfolio, but low-frequency traders face a high pricing environment. Trading costs decrease for active traders via the volume-based loyalty program. Therefore, based on trading costs, Octa remains a more competitive choice. HotForex and Octa maintain upgraded MT4/MT5 trading platforms, but the latter also features copy trading, a proprietary mobile trading app and OctaTrader, with Space, its one-of-a-kind built-in smart feed. The Autochartist plugin is available at both. Overall, Ocra presents more feature-rich platforms, delivering an edge to all traders. Both brokers feature a generous bonus system and support social trading.

You might also be interested in reviewing the below broker comparisons:

• HotForex vs CM Trading
• HotForex vs FBS
• HotForex vs Exness
• OctaFX vs eToro
• OctaFX vs XM
• OctaFX vs Eightcap

Read full HotForex Review

Read full Octa Review