Oanda vs OctaFX - Fees Review included
Which broker is better Oanda or OctaFX? Our expert assessment conducted according to TU’s own methodology showed that Oanda is one of the top brokers in the financial market with the TU Overall Score of 6.8 out of 10. OctaFX is one of the top brokers in the financial market with the TU Overall Score of 8.2 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | OctaFX |
|---|---|---|
Overall |
4.4 |
4.1 |
5 |
3.9 |
|
4.5 |
4.5 |
|
3.5 |
2.9 |
|
Investment Instruments |
4.1 |
3.1 |
Platforms and Charting Tools |
4.8 |
4.4 |
Deposit and Withdrawal |
4.2 |
4.6 |
Research |
4.7 |
4.1 |
Education |
4.5 |
3.9 |
Support |
4.8 |
4.1 |
Bonuses |
4.6 |
4.3 |
|
|
|
Oanda vs OctaFX: Pros and Cons
Olsen & Associates, also known as OANDA, is a US-registered company set up to offer a plethora of financial services to clients around the world. Its history goes as far back as 1996, and it is now under regulation in four jurisdictions. The broker has licenses from different regulators, of which the United Kingdom Financial Conduct Authority (FCA) is the major one.
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.
| Oanda | OctaFX | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | Trading at weekends |
| Real-time news and fundamental analysis tools | No non-trading commissions | |
| localized and multilingual phone support | Copy trading service | |
| User-friendly platform for new forex traders | ||
| Outstanding research tools | ||
| Financial information publicly available | ||
| High educational value through written content and videos | ||
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | No programs offering bonus | Limited number of supported assets |
| Slow withdrawal of funds | High spreads |
Oanda vs OctaFX: Safety and Regulation
| Oanda | OctaFX | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
£85,000 SGD 75,000 $500,000 |
€20,000 |
FCA UK Regulation |
Yes |
No |
FINRA (U.S) |
No |
No |
BaFin (Germany) |
No |
No |
ASIC (Australia) |
Yes |
No |
CFTC (U.S) |
Yes |
No |
MAS |
Yes |
No |
FSCA SA |
No |
No |
BVI FSC |
Yes |
No |
VFSC |
No |
No |
FSA (Seychelles) |
No |
No |
Oanda vs OctaFX: Trading Conditions
| Trading Conditions | Oanda | OctaFX |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$100 |
Trading Platforms |
MT4, OANDA, TradingView |
MetaTrader 4, MetaTrader 5 |
Max Leverage (Futures) |
1-50 |
1-500, for EU clients - 1-30 |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
32 currency pairs, CFDs on energy resources, cryptocurrencies, indices, gold, and silver |
Trading assets |
120+ |
70+ |
Trading Accounts |
Standard, Core, and Swap-free |
Demo, OctaFX MT4, OctaFX MT5 |
Base Account Currencies |
USD, EUR, HKD, SGD |
USD, EUR |
Oanda vs OctaFX: Fees
| Oanda | OctaFX | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,1 |
0,6 |
Standard acc. spread EUR/USD, max pips |
0,5 |
1 |
ECN Commission |
3,5 |
|
ECN Spread EUR/USD |
0,15 |
|
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
No |
Withdrawal fee, USD |
0-15 |
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.
Oanda vs OctaFX: Trading Assets
| Asset Name | Oanda | OctaFX |
|---|---|---|
Overall |
120+trading assets |
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 |
Oanda or OctaFX: Investment Programs
| Asset Name | Oanda | OctaFX |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: OctaFX or Oanda
| Oanda | OctaFX | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
Oanda |
No |
Others |
No |
No |
|
|
|
Oanda vs OctaFX: Deposit and Withdrawal Methods
| Oanda | OctaFX | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
Yes |
Yes |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
No |
No |
Oanda vs OctaFX: Research
| Research Type | Oanda | OctaFX |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
Yes |
Oanda vs OctaFX: Education
| Education Type | Oanda | OctaFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
Yes |
OctaFX vs Oanda: Support
| Support Features | Oanda | OctaFX |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
yes |
Online chat |
Yes |
Yes |
Other |
No |
Twitter, Telegram, or Facebook |
Oanda vs OctaFX: Forex Bonuses and Promo
| Promo | Oanda | OctaFX |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
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 |
Yes |
“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 |
Rebates and commission markdowns |
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
Octa offers competitive spreads from 0.6 pips on EUR/USD and leverage up to 1:1000, making it suitable for active traders. The conditions are also beginner-friendly — copy trading is supported, and there’s an economic calendar, educational articles, and analytics. The website is intuitive, and support responds within a couple of minutes, even at night. Another plus is the Trade & Win program with deposit bonuses of up to 50%.
-
Comment
Octa offers very transparent trading conditions: no hidden fees and zero deposit commissions. I use Skrill and Visa — everything goes smoothly. The OctaTrader platform is convenient, featuring a built-in idea feed and market event notifications. It’s also nice that cryptocurrency is supported — Bitcoin, Ethereum, and even local bank transfers are available for deposits.
-
Comment
Octa has been confidently established in the market since 2011, serving clients from 150 countries, which reflects the trust of traders worldwide. Licenses from FSC and MISA provide basic regulatory protection, and the availability of negative balance protection allows for trading with peace of mind. A nice bonus is the contests on demo accounts where real money is awarded — an excellent way to improve skills and earn without risk.
-
Comment
Octa offers a well-developed trading infrastructure with over 300 instruments, including 52 currency pairs, 150 stocks, and 34 cryptocurrencies. The minimum lot size starts from 0.01, and leverage goes up to 1:1000. I especially appreciated that 97% of orders are executed without slippage, and the ability to choose between fixed and floating spreads on MT4 and MT5 provides greater flexibility for different trading strategies.
-
Comment
Octa turned out to be one of the few brokers that lets you start trading with just $25 while offering access to three platforms: MetaTrader 4, MetaTrader 5, and OctaTrader. This is especially convenient for those exploring different trading styles. Spreads start from 0.6 pips, and there are no deposit or withdrawal fees, which helps reduce costs at the beginning. Plus, you can copy other traders’ positions through the built-in CopyTrading service.
Top 5 Reviews on Oanda
-
Comment
I considered Oanda as a platform for portfolio diversification. What attracted me was its stability — the broker has been operating since 1996 and is regulated in four jurisdictions. Liquidity is provided by major banks, including JPMorgan and Deutsche Bank, which adds confidence in order execution without slippage.
-
Comment
The Oanda platform offers a solid range of instruments, including currency pairs, cryptocurrencies, metals, indices, and commodities. The minimum order size starts from 0.01 lots, and spreads for major pairs begin at 0 pips. These are favorable conditions for traders using intraday or scalping strategies.
-
Comment
When choosing a broker, I paid close attention to leverage. OANDA offers up to 1:200, which provides enough flexibility for active trading. You can trade on MetaTrader 4, 5, as well as the proprietary fxTrade platform. The stop-out level is fixed at 50%, which is in line with industry standards.
-
Comment
The conditions at OANDA are average, so I can give this broker a decent rating.
-
Comment
I can describe OANDA as one of the most proper brokers on the currency market. It works quickly, there are no failures, and no market movements have a significant impact on it. I'm safe 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.