Alpari vs OctaFX - Fees Review included
Which broker is better Alpari or OctaFX? Our expert assessment conducted according to TU’s own methodology showed that Alpari is one of the top brokers in the financial market with the TU Overall Score of 6.53 out of 10. OctaFX is one of the top brokers in the financial market with the TU Overall Score of 8.86 out of 10. Find out more about TU Overall Score.
| Feature | Alpari | OctaFX |
|---|---|---|
Overall |
4 |
4.1 |
3.7 |
3.9 |
|
3.5 |
4.5 |
|
4.1 |
2.9 |
|
Investment Instruments |
3.5 |
3.1 |
Platforms and Charting Tools |
3.9 |
4.4 |
Deposit and Withdrawal |
4.1 |
4.6 |
Research |
3.8 |
4.1 |
Education |
4.1 |
3.9 |
Support |
4.6 |
4.1 |
Bonuses |
4.5 |
4.3 |
|
|
|
Alpari vs OctaFX: Pros and Cons
The Alpari broker has been providing financial services in the international foreign exchange market since 1998. The company's services include both active Forex trading and investment offers. The broker is registered in the territory of Saint Vincent and the Grenadines. Its license is № 20389 IBC 2012, issued by the Registrar of International Business Companies. The Company is also a member of The Financial Commission, which handles the settlement of disputes worldwide between brokers and their clients. The broker has received more than 30 awards, including Forex Expo Awards (2011, 2012, 2014), International Finance Magazine Awards (2013), and FX Empire Awards (2017).
The OctaFX Broker has been providing Forex services since 2011. It operates under the CySEC license and provides favorable conditions for Forex traders. At the moment, OctaFX has been chosen by more than 6.6 million clients worldwide as an intermediary to the financial markets, but the broker is focused on the countries of the Asia-Pacific region. OctaFX is popular in Indonesia, Malaysia, Pakistan and other countries. Its services are used by both active traders and passive investors who prefer to copy the successful trading strategies of other market participants. In 2020, OctaFX was named The Best CFD broker in the Asia-Pacific region by Capital Finance International, and in 2021, The Best Forex Broker in Asia by Global Banking and Finance Review.
| Alpari | OctaFX | |
|---|---|---|
| Overall Pros | a large number of trading accounts for traders with different levels of experience and goals; | Trading at weekends |
| high-quality and efficient work by the customer support service | No non-trading commissions | |
| many ways to replenish the deposit and withdraw funds | Copy trading service | |
| Overall Cons | no trading on weekends | Limited number of supported assets |
| withdrawal of funds is carried out after occasional delays | High spreads | |
| commission compensation for deposits or withdrawals is available only for traders with VIP status; | ||
| trading on the MetaTrader 5 platform is available only for traders with standard accounts, and swap-free Forex Islamic accounts work only on MetaTrader 4. |
Alpari vs OctaFX: Safety and Regulation
| Regulated By: | Alpari | OctaFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
FSC (Mauritius) |
Saint Vincent and the Grenadines (SVG FSA) |
Alpari vs OctaFX: Trading Conditions
| Trading Conditions | Alpari | OctaFX |
|---|---|---|
Minimum Deposit |
$1 |
$100 |
Trading Platforms |
MetaTrader 4, MetaTrader 5 |
MetaTrader 4, MetaTrader 5 |
Max Leverage (Futures) |
1-30000 |
1-500, for EU clients - 1-30 |
Supported Markets |
Currency pairs, metals, CFDs |
32 currency pairs, CFDs on energy resources, cryptocurrencies, indices, gold, and silver |
Trading assets |
78+ |
70+ |
Trading Accounts |
nano.mt4, standard.mt4, standard.mt5, ecn.mt4, pro.ecn.mt4, special.ecn.mt4, ecn.mt5 |
Demo, OctaFX MT4, OctaFX MT5 |
Base Account Currencies |
USD and EUR |
USD, EUR |
Alpari vs OctaFX: Fees
Forex Trading Fees
| Fee | Alpari | OctaFX |
|---|---|---|
Standard Account EURUSD Average Spread |
0.1 pips |
0.7 pips |
Standard Account Fee |
$50 |
$0 |
ECN/STP Account Fee |
$50 |
Not supported |
ECN Account EUR Average Spread |
0.3 pips |
Not supported |
CFD Trading Fees
| Fee | Alpari | OctaFX |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Alpari | OctaFX |
|---|---|---|
Account Fee |
$50 |
No |
Deposit Fee |
5 EUR/USD/GBP/ 80 ZAR |
No |
Withdrawal Fee |
From 0 up to 50 USD/ 800 ZAR |
No |
Inactivity Fee |
5 EUR/USD/GBP/ 80 ZAR |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Alpari vs OctaFX: Trading Assets
| Asset Name | Alpari | OctaFX |
|---|---|---|
Overall |
78+ |
70+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
No |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes (Bitcoin CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Alpari or OctaFX: Investment Programs
| Asset Name | Alpari | OctaFX |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: OctaFX or Alpari
| Alpari | OctaFX | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
No |
|
|
|
Alpari vs OctaFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Alpari | OctaFX |
|---|---|---|
Bank Transfer |
Yes |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
Alpari vs OctaFX: Research
| Research Type | Alpari | OctaFX |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
Yes |
Alpari vs OctaFX: Education
| Education Type | Alpari | OctaFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
OctaFX vs Alpari: Support
| Support Features | Alpari | OctaFX |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
yes |
Online chat |
Yes |
Yes |
Other |
Facebook, WhatsApp, VK, Telegram |
Twitter, Telegram, or Facebook |
Alpari vs OctaFX: Forex Bonuses and Promo
| Promo | Alpari | OctaFX |
|---|---|---|
Forex Bonus |
Proprietary bonus system: For replenishment of the account, trading, and other operations, the trader receives bonus points on his personal account, which can later be exchanged for discounts or real money; Cashback service: Clients with a high status in the system receive more privileges and access to additional bonuses. |
Bonuses of 10% to 50% are paid for each deposit starting at $50 During the period of special offers, the client can request a reward in the amount of 100% of the amount deposited into the account. The bonus is available for withdrawal after meeting the requirements for the trading volume. |
Affiliate Program |
"Revenue Sharing" - a broker's representative may attract new clients and receive up to 60% of the spread for trading operations carried out by the invited trader; “CPA-partner” is a partner whose task is also to attract new customers, but a reward of up to $275 is paid only after new invitees open new accounts and replenish them at least once. |
“Invite a friend” - a program that rewards $1 for 1 standard lot traded by the attracted referral, the minimum withdrawal amount is $5; "IB" – (Introducing Broker) the partner receives from $3 to $12 depending on the total number of connected clients; Master IB is a program for those who have created their own IB network. The master trader receives a 10% commission from the profits received by the attracted IB. He also has access to the standard introducing broker remuneration. White Label. It is an attractive solution for existing brokers who want to provide financial services to directly to others. The program makes it possible to use the powerful foundation of FP Markets, but at the same time promote a personal brand. |
Other Promos |
Contests on MT4 demo accounts The winners of the competition, who take the first five prizes, receive real money to their trading account. The amount of remuneration ranges from $40 to $500. The term of the round is four weeks. Money can be withdrawn or transferred to a real account for further use in trading. |
|
|
|
|
Top 5 Reviews on OctaFX
-
Comment
I’ve made some decent trades with OctaFX, but it took me longer than expected to withdraw my profits though. Their customer support was helpful eventually, but it took a few back-and-forth emails to get everything sorted. Not sure if this is normal or if I just ran into some glitch. Definitely something to consider, especially if you're looking to get your money out quickly.
-
Comment
OctaFX offers a mixed bag of experiences for traders. On the bright side, their user-friendly platform is a welcoming space, even for beginners. The abundance of educational resources has been a boon for honing trading skills. However, the downside comes in the form of occasional slow execution speeds during peak trading hours, leading to frustration. Although customer support is responsive, the solutions provided may not always hit the mark. Overall, OctaFX serves as a decent starting point for traders, but there's room for improvement to ensure a smoother journey.
-
Comment
Been using OctaFX for a few months now, trying to get into forex trading. Signed up cause they advertised for beginners a lot. They do have a demo account which is cool, but switching to live trading felt kinda rough. There are tons of options on the platform and not much explanation for what they all do. I mostly use the copy trading cause I'm still learning the ropes, but finding a good trader to copy can be tricky. This platform is inferior to market leaders i d say, although it has its advantages, in particular simplicity. The most popular traders charge significant commissions - up to 33%, while their profitability is quite low. Overall, it's not a bad platform, but I wish there were more and cheaper options for beginners. One of the copy trading app leader on the screen.
-
Comment
I trade with OctaFX permanently and everything is fine. Trades are opened at a current price. Everything is great, I withdraw my profits periodically. But to do this, you have to work a lot. So, you can make money with OctaFX, the main thing is to put in the effort!
-
Comment
OctaFX is closer to what I was looking for! I read all the reviews, and I want to say that this broker inspires confidence in me. Thanks to everyone who provided their feedback and personal examples of trading with this company! I will open a trading account here.
Top 5 Reviews on Alpari
-
Comment
Many traders collaborate with the broker Alpari. I myself traded with this broker for several years. At one time, Alpari was one of the best among forex companies. But now, there is fierce competition, with many brokers offering favorable conditions as well as regulatory licenses. And this broker has remained in the past for now.
-
Comment
I leave a neutral review of alpari. This company is reputable and when you get to know it closer, you understand that the broker has no special problems. Everything is fine with payments. There are deposit and withdrawal fees. They are small, but they exist. Slippages occur, though not very strong.
-
Comment
I can recommend Alpari as a stable and reliable broker, which has earned its reputation over the years of its work. It is focused on clients, not on its profit, and this is the most important thing. It is also important to note that order execution is at a high level, and withdrawals are made quickly and without any difficulties. Alpari provides good support service where knowledgeable Forex specialists work.
-
Comment
For me, the main advantage of Alpari is the variety of available trading instruments. I traded both currency pairs and crypto. I can also add that Alpari has a fast trading platform. There are no requotes, and this is very important in my trading.
-
Comment
I have known Alpari for six years. At first I traded here for two years, then I stopped trading at all. I didn’t work in the Forex market for two years, and then I returned again. I tried trading in another company, but I didn't like it. I funded my account with Alpari again and am trading here up to now. I can’t say that the broker is perfect, since problems do occur. But the company withdraws profits without any problems.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.