Octa vs eToro
Octa offers the Autochartist plugin for the MT4/MT5 trading platforms, deploys its proprietary web-based alternative, Octa Mobile App, and the Octa Copytrading App, which Octa streamlined for its in-house developed copy trading service. Octa, home to 42 million trading accounts, 70 industry awards, and $31M+ in paid-out bonus funds, grew into a leading Forex broker with highly liquid trading instruments ideal for scalpers and algorithmic traders.
Octa boasts a proprietary platform with an intuitive UI and tailored features called OctaTrader. The recent addition to the OctaTrader is Space. It’s a sidebar news feed embedded into the application that provides traders with up-to-date personalized market information.
eToro is a leading copy trading broker with 30M+ traders, 3,000+ assets, and a user-friendly web-based eToro platform and mobile app. At the core of eToro is CopyTraders, its primary copy trading tool, and Smart Portfolios, its custom-tailored investment product featuring thematic long-term buy-and-hold investment managed in-house by eToro.
We have conducted an in-depth review of Octa and eToro to determine which presents the better overall choice and which traders will benefit the most at either broker.
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Headquarters | Comoros | Israel |
Regulators | CySEC, FSCA, MWALI International Services Authority | ASIC, CySEC, FCA, FSA |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2011 | 2007 |
Execution Type(s) | Market Maker | Market Maker |
Minimum Deposit | $25 | $50 - $10,000 |
Negative Balance Protection | ||
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform | Proprietary platform |
Average Trading Cost EUR/USD | 0.9 pips | 1.0 pips |
Average Trading Cost GBP/USD | 1.3 pips | 2.2 pips |
Average Trading Cost WTI Crude Oil | $0.07 | $0.05 |
Average Trading Cost Gold | $0.30 | $0.45 |
Retail Loss Rate | 67.65% | 74% |
Minimum Raw Spreads | Not applicable | 0.8 pips |
Minimum Standard Spreads | 0.6 pips | 1.3 pips |
Minimum Commission for Forex | Commission-free | $0.00 |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Get Started | Get Started |
Features & Platforms
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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 | ||
| Get Started | Get Started |
Noteworthy:
Octa delivers lucrative giveaways to high-volume traders via its multi-tier status program. eToro offers its in-house developed cryptocurrency wallet, a mobile e-money account, and eToro Academy.
Available Markets
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Currency Pairs | ||
Cryptocurrencies | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | ||
ETFs | ||
Options | ||
Futures | ||
Synthetics | ||
| Get Started | Get Started |
Octa focuses on liquid assets, including 30+ cryptocurrency CFDs, making it ideal for scalpers and traders requiring fewer but liquid assets. eToro provides a superior choice of trading instruments. Its 3,000+ assets focus on equity CFDs and ETFs. At the same time, other sectors receive adequate introduction with an above-average Forex selection, best for cross-asset diversification.
Typical Spreads & Fees
| | |
Average Trading Cost EUR/USD | 0.9 pips | 1.0 pips |
Average Trading Cost GBP/USD | 1.3 pips | 2.2 pips |
Average Trading Cost WTI Crude Oil | $0.07 | $0.05 |
Average Trading Cost Gold | $0.30 | $0.45 |
Average Trading Cost Bitcoin | $11 | $574 |
Minimum Raw Spreads | Not applicable | 0.8 pips |
Minimum Standard Spreads | 0.6 pips | 1.3 pips |
Minimum Commission for Forex | Commission-free | $0.00 |
Deposit Fee | ||
Withdrawal Fee | ||
Inactivity Fee | No | $10 monthly after 12 monthd |
| Get Started | Get Started |
Octa and eToro offer commission-free trading costs, where the former commences with spreads from 0.6 pips or $6.00 per lot versus the latter at 1.0 pips or $10.00. Octa lowers trading fees for high-volume traders, expanding its cost advantage over eToro. Many assets at Octa remain swap-free, making a notable difference to final trading costs.
Account Types
Traders at Octa can choose between an OctaTrader, an MT4 or an MT5 trading account type, which dictates how many assets they have. eToro provides everyone with an identical account, but the minimum deposit depends on the geographic location of traders. Both brokers offer unlimited demo accounts, but eToro has in-house managed thematic portfolios. Swap-free Islamic accounts are available at Octa and eToro, but the former extends it to all traders.
Minimum Deposit
The Octa minimum deposit is $25 for non-EU traders and $50 for EU-based traders. Traders can opt for USD or EUR accounts, and Octa accepts cryptocurrency deposits. The eToro minimum deposit is $200 for most but is as low as $10 for US and UK-resident traders and as high as $10,000 for Israeli-resident traders, while EU-based clients can start with $50.
Minimum Withdrawal
The minimum withdrawal amount at Octa is lower than at eToro, and the former does not levy internal withdrawal fees. The latter charges a flat fee of $5 on each transaction and payment processor. Internal processing times at Octa are swift. eToro has a slower process, where traders must wait up to two business days for eToro to authorize a withdrawal. Both brokers honour all valid withdrawal requests.
Security & Trust
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Country of the Regulator | Cyprus, Comoros, South Africa | Australia, Cyprus, Seychelles, United Kingdom |
Name of the Regulator | CySEC, FSCA, MWALI International Services Authority | ASIC, CySEC, FCA, FSA |
Regulatory License Number | 372/18, 51913, HY00623410 | 491139, 109/10, 583263, SD076 |
| Get Started | Get Started |
Octa and eToro are well-established, secure, and trusted brokers. Both provide retail traders with negative balance protection and segregate all client deposits from corporate funds. eToro, founded in 2007, has more operational experience than Octa, founded in 2011.
Octa versus eToro Verdict
Octa
Pros | Cons |
Low minimum deposit and high leverage up to 1:1000 | Limited overall asset selection |
Swap-free trading for all traders, based on assets | |
Competitive selection of cryptocurrencies and fast withdrawal times | |
Large trading community and proprietary copy trading service |
eToro
Pros | Cons |
Copy-trading with a community exceeding 30 million traders | Absence of MT4 and no algorithmic trading |
User-friendly web-based trading platform and mobile app | |
Quality educational offering for beginner traders via the eToro Academy | |
Balanced asset selection with a focus on equity CFDs and ETFs |
eToro is a multi-asset investment platform.
Octa supports algorithmic trading, notably absent at eToro, and is best for scalpers and other demanding strategy traders. eToro presents the better overall choice, particularly for beginners, amid its quality educational offering, in-house management investment portfolios, and copy trading community. eToro also offers physical cryptocurrency purchases and staking, but geographic restrictions apply.
The value of your investments may go up or down. Your capital is at risk.
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FAQs
Is eToro good or bad?
eToro is best suited for copy traders who are okay with above-average costs and cryptocurrency traders, where eToro deploys numerous custom-tailored solutions or passive investment strategies.
Which country banned Octa?
India placed Octa on its "Alert list," and Pakistan banned Octa in 2022.
Is Octa a good broker?
Octa ranks among the best brokers for scalpers and algorithmic traders due to its low, commission-free trading costs, swap-free trading on many assets, and ultra-fast withdrawals.