AximTrade vs OctaFX - Fees Review included
Which broker is better AximTrade or OctaFX? Our expert assessment conducted according to TU’s own methodology showed that AximTrade is one of the top brokers in the financial market with the TU Overall Score of 4.82 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 | AximTrade | OctaFX |
|---|---|---|
Overall |
1.9 |
4.1 |
2.5 |
3.9 |
|
2.3 |
4.5 |
|
2.7 |
2.9 |
|
Investment Instruments |
2.1 |
3.1 |
Platforms and Charting Tools |
1.8 |
4.4 |
Deposit and Withdrawal |
2.9 |
4.6 |
Research |
1.7 |
4.1 |
Education |
1.4 |
3.9 |
Support |
1.6 |
4.1 |
Bonuses |
1.5 |
4.3 |
|
|
AximTrade vs OctaFX: Pros and Cons
AximTrade is an intermediary that is registered in Saint Vincent and the Grenadines and operates under the supervision of the Financial Services Authority (SVGFSA) regulator. It has been providing services for trading currency pairs, cryptocurrencies, and CFDs since 2020. The company offers cent, standard and ECN accounts with high leverage, low minimum deposit requirements, and tight spreads. AximTrade has awards from The Best Forex IB Program (Africa and Asia) and The Best Forex Trading Platform Asia.
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.
| AximTrade | OctaFX | |
|---|---|---|
| Overall Pros | The availability of a regulator and longevity in the Forex market of more than 10 years. | Trading at weekends |
| The low entry threshold for starting trading is $1 for cent and standard accounts and $50 for ECNs. | No non-trading commissions | |
| Tight spreads on all account types and average commissions per lot on ECN accounts in the brokerage market. | Copy trading service | |
| High leverages up to 1:3000. | ||
| The ability to deposit and withdraw funds using electronic payment systems and in cryptocurrency. | ||
| The existence of a social trading platform that allows you to receive additional income for both investors and experienced traders. | ||
| Overall Cons | An account with the broker cannot be opened by traders from several countries, including the United States, Great Britain, and Canada. | Limited number of supported assets |
| The company's website does not have sections with training, analytics, or news. | High spreads | |
| The web terminal is not available to clients. |
AximTrade vs OctaFX: Safety and Regulation
| Regulated By: | AximTrade | OctaFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
ASIC, FSA, FSP |
Saint Vincent and the Grenadines (SVG FSA) |
AximTrade vs OctaFX: Trading Conditions
| Trading Conditions | AximTrade | OctaFX |
|---|---|---|
Minimum Deposit |
$1 |
$100 |
Trading Platforms |
МТ4 (desktop, mobile) |
MetaTrader 4, MetaTrader 5 |
Max Leverage (Futures) |
401769 |
1-500, for EU clients - 1-30 |
Supported Markets |
Currency pairs, CFDs on indices, metals, energies, cryptocurrencies, USD |
32 currency pairs, CFDs on energy resources, cryptocurrencies, indices, gold, and silver |
Trading assets |
155+ |
70+ |
Trading Accounts |
Standard, Cent, ECN, Infinite |
Demo, OctaFX MT4, OctaFX MT5 |
Base Account Currencies |
USD |
USD, EUR |
AximTrade vs OctaFX: Fees
Forex Trading Fees
| Fee | AximTrade | OctaFX |
|---|---|---|
Standard Account EURUSD Average Spread |
1.1 pips |
0.7 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$0 |
Not supported |
ECN Account EUR Average Spread |
0,2 pips |
Not supported |
CFD Trading Fees
| Fee | AximTrade | OctaFX |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | AximTrade | OctaFX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
Wire Transfer/Debit or credit card/Electonic wallets - 0%, USDT (TRC-20) - $1-2, USDT (ERC-20) - $15-25, BEP-20 - $1-2 |
No |
Withdrawal Fee |
Neteller/Skrill - $4, USDT (TRC-20), USDT (ERC-20), BEP-20 - $0, wire transfer - $0 |
No |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
AximTrade vs OctaFX: Trading Assets
| Asset Name | AximTrade | OctaFX |
|---|---|---|
Overall |
155+ |
70+ |
Forex |
Yes |
Yes |
Stocks |
No |
No |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
AximTrade or OctaFX: Investment Programs
| Asset Name | AximTrade | OctaFX |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: OctaFX or AximTrade
| AximTrade | OctaFX | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
No |
|
|
AximTrade vs OctaFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | AximTrade | OctaFX |
|---|---|---|
Bank Transfer |
Yes |
No |
Debit Card |
Coming soon |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
Yes |
AximTrade vs OctaFX: Research
| Research Type | AximTrade | OctaFX |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
Yes |
AximTrade vs OctaFX: Education
| Education Type | AximTrade | OctaFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
OctaFX vs AximTrade: Support
| Support Features | AximTrade | OctaFX |
|---|---|---|
Working Days |
Email 24/5, Online chat 24/7 |
24/5 |
Yes |
Yes |
|
Phone |
No |
yes |
Online chat |
Yes |
Yes |
Other |
No |
Twitter, Telegram, or Facebook |
AximTrade vs OctaFX: Forex Bonuses and Promo
| Promo | AximTrade | OctaFX |
|---|---|---|
Forex Bonus |
No |
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 |
Affiliates and IBs. There are programs for private traders and companies that offer a maximum reward of up to $20 per lot and up to 10% of second-level referrals; Loyalty Program. The company raffles off valuable prizes (smartphones, watches, cars, luxury vacations) among affiliates who have met the requirements for the total turnover of referrals. Affiliates whose referrals have traded from 3,000 lots within 3 months participate in the drawing. |
“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. |
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|
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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 AximTrade
-
Comment
Aximеtrade has its own tariff plans for novice traders. But I think we need to study everything carefully, because this broker has strict conditions. This requires strategy. Even novice traders need to have basic knowledge of trading and investing. I give Aximеtrade a normal rate.
-
Comment
The broker AximTrade should have been blacklisted long ago. This company has proven to be a fake broker that offers virtual trading. All information about attractive conditions at AximTrade is pure deception. No matter what conditions are advertised on the company's website, withdrawing money from here is practically impossible.
-
Comment
If I had known the truth about AximTrade from the start, I would have never opened a trading account here. Because all the information about the company is a lie! There is no regulator's license, no protection for traders from AximTrade's wrongdoing. They didn't withdraw my money at all! The account still has the initial deposit of $1000 and a profit of $380! The account is currently blocked.
-
Comment
I withdrew my profit and deposit, but it is almost impossible to trade here. Trading with AximTrade was not very comfortable and when I contacted managers, they simply wavered, claiming that the market has its own characteristics and requires a good strategy. I got the impression that they somehow influence the market, I will try to prove it. But it is best to avoid working with AximTrade.
-
Comment
AximTrade promises the best trading conditions. But I will say that they are simply deceiving their clients. As soon as you start trading, conditions change. AximTrade has no problems on a demo account, but on a live account there are a lot of problems. This is how they lure you in and then change the conditions without warning. Don't even think about opening an account here!
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.