Trading 212 vs OctaFX - Fees Review included
Which broker is better Trading 212 or OctaFX? Our expert assessment conducted according to TU’s own methodology showed that Trading 212 is one of the top brokers in the financial market with the TU Overall Score of 4.89 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 | Trading 212 | OctaFX |
|---|---|---|
Overall |
3.9 |
4.1 |
4.5 |
3.9 |
|
3.5 |
4.5 |
|
4.7 |
2.9 |
|
Investment Instruments |
1 |
3.1 |
Platforms and Charting Tools |
2.8 |
4.4 |
Deposit and Withdrawal |
4.1 |
4.6 |
Research |
3.7 |
4.1 |
Education |
3.8 |
3.9 |
Support |
3.9 |
4.1 |
Bonuses |
1 |
4.3 |
|
|
Trading 212 vs OctaFX: Pros and Cons
The Trading 212 brokerage company (trading212.com) is registered to do business in London in 2006. Its specialization is the provision of services for investment and active trading in the foreign exchange and stock markets. The company is regulated and licensed by the UK Financial Conduct Authority (FCA) and by CySEC in Europe. The broker does not provide data on awards received during the work.
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.
| Trading 212 | OctaFX | |
|---|---|---|
| Overall Pros | low level of the minimum deposit | Trading at weekends |
| a large selection of trading assets | No non-trading commissions | |
| Big choice of Stocks and ETFs | Copy trading service | |
| UK and EU regulated broker | ||
| Overall Cons | lack of investment programs | Limited number of supported assets |
| a small number of ways to contact support | High spreads | |
| the company does not hold contests for traders |
Trading 212 vs OctaFX: Safety and Regulation
| Regulated By: | Trading 212 | OctaFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
Saint Vincent and the Grenadines (SVG FSA) |
Trading 212 vs OctaFX: Trading Conditions
| Trading Conditions | Trading 212 | OctaFX |
|---|---|---|
Minimum Deposit |
£1, €1 |
$100 |
Trading Platforms |
Web platform, a mobile app for iOS and Android |
MetaTrader 4, MetaTrader 5 |
Max Leverage (Futures) |
1:30 (retail clients), 1:500 (Pro clients) |
1-500, for EU clients - 1-30 |
Supported Markets |
Currency pairs, CFDs on stocks, indices, futures, commodities, ETFs |
32 currency pairs, CFDs on energy resources, cryptocurrencies, indices, gold, and silver |
Trading assets |
over 12,000 stocks and ETFs available in the Invest/ISA accounts and over 5,000 leveraged instruments in the CFD account |
70+ |
Trading Accounts |
Trading 212 Invest, Trading 212 CFD, ISA (available for UK clients) |
Demo, OctaFX MT4, OctaFX MT5 |
Base Account Currencies |
GBP, EUR |
USD, EUR |
Trading 212 vs OctaFX: Fees
Forex Trading Fees
| Fee | Trading 212 | OctaFX |
|---|---|---|
Standard Account EURUSD Average Spread |
2.3 pips |
0.7 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
Not supported |
ECN Account EUR Average Spread |
Not supported |
Not supported |
CFD Trading Fees
| Fee | Trading 212 | OctaFX |
|---|---|---|
CFD Trading Fee |
Other fees |
Floating spread |
Non-Trading Fees
| Fee | Trading 212 | OctaFX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
0,7% if you deposit more than 2000 EUR with debit or credit card |
No |
Withdrawal Fee |
No |
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.
Trading 212 vs OctaFX: Trading Assets
| Asset Name | Trading 212 | OctaFX |
|---|---|---|
Overall |
over 12000+ |
70+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
No |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes |
No |
Bonds |
Yes (CFD) |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes (CFD) |
No |
Binary Options |
No |
No |
Trading 212 or OctaFX: Investment Programs
| Asset Name | Trading 212 | OctaFX |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: OctaFX or Trading 212
| Trading 212 | OctaFX | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
Trading 212 |
No |
Others |
No |
No |
|
|
Trading 212 vs OctaFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Trading 212 | OctaFX |
|---|---|---|
Bank Transfer |
Yes |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
No |
Yes |
Trading 212 vs OctaFX: Research
| Research Type | Trading 212 | OctaFX |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
Yes |
Trading 212 vs OctaFX: Education
| Education Type | Trading 212 | OctaFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
OctaFX vs Trading 212: Support
| Support Features | Trading 212 | OctaFX |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
No |
yes |
Online chat |
No |
Yes |
Other |
feedback form |
Twitter, Telegram, or Facebook |
Trading 212 vs OctaFX: Forex Bonuses and Promo
| Promo | Trading 212 | 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 |
Promo offer. It works according to the principle of a standard referral program. A client of the company becomes a partner of a broker, receives an individual referral link and attracts new users to the company. The referrer gets a bonus for each new active trader. Trading 212 provides a tiered referral program that rewards every client and friend they refer with a free share (or a share of the whole share) up to €100/GBP. |
“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 Trading 212
-
Comment
I haven’t traded or registered with Trading 212 yet, but I think I should try, since the company is interesting. I am currently studying reviews about this broker. So far nothing bad has happened.
-
Comment
I like trading with trading 212. The conditions are normal. The minimum deposit is really minimal - €1, but it is better to make a normal deposit, you understand. The platform works properly too. I checked the quotes, they correspond to the market. Sometimes, opening and closing of trades is not fast enough, but it is within reasonable time.
-
Comment
I have been trading with Trading 212 for almost 2 years. The broker is not bad and it withdraws money. However, there are some problems: there are requotes and the platform freezes sometimes. But the broker is regulated, which is a plus! I’m currently trading with another company, but I have this one in mind.
-
Comment
Withdrawals and execution are fine at Trading 212. Now I make a profit, but there were different situations. I decided to trade here, as they withdraw money without any problems.
-
Comment
I came to trading 212 a couple of years ago, it’s a worthy company. What I like most is the respectful attitude towards the trader. The support has helped me more than once; the operators regularly advise me on all issues that arise. This helps me a lot in trading.
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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.