Webull vs OctaFX - Fees Review included
Which broker is better Webull or OctaFX? Our expert assessment conducted according to TU’s own methodology showed that Webull is one of the top brokers in the financial market with the TU Overall Score of 7.21 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 | Webull | OctaFX |
---|---|---|
Overall |
3.2 |
4.1 |
5 |
3.9 |
|
3.4 |
4.5 |
|
3.1 |
2.9 |
|
Investment Instruments |
4.0 |
3.1 |
Platforms and Charting Tools |
3.1 |
4.4 |
Deposit and Withdrawal |
2.7 |
4.6 |
Research |
1.8 |
4.1 |
Education |
1.2 |
3.9 |
Support |
3.6 |
4.1 |
Bonuses |
4.1 |
4.3 |
|
Webull vs OctaFX: Pros and Cons
Webull is an American broker-dealer headquartered in New York City and is a FINRA, SIPC, NYSE, and NASDAQ member. The company was incorporated in May 2017, and in January 2018 it was already registered with the SEC. It is part of Webull Financial LLC and is licensed to carry out brokerage activities in all 50 US states. The broker offers a wide range of stock market assets, professional analytics and an intuitive trading platform with a variety of technical and fundamental analysis tools
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.
Webull | OctaFX | |
---|---|---|
Overall Pros | Zero commission when trading stocks, options, and ETFs | Trading at weekends |
No minimum deposit requirements for brokerage and retirement (IRA) accounts | No non-trading commissions | |
Access to professional intelligent analytics and trading tools | Copy trading service | |
Overall Cons | There is no support for trading in mutual funds, futures, bonds or stocks of the OTC markets | Limited number of supported assets |
It doesn’t provide an opportunity to make transactions with currency pairs | High spreads | |
Cryptocurrency trading is available only in mobile applications | ||
Replenish your account from $2,000 to trade with favorable leverage |
Webull vs OctaFX: Safety and Regulation
Webull | OctaFX | |
---|---|---|
Max. Regulation Level |
Tier-1 |
|
Investor protection |
€20,000 |
|
FCA UK Regulation |
No |
|
FINRA (U.S) |
No |
|
BaFin (Germany) |
No |
|
ASIC (Australia) |
No |
|
CFTC (U.S) |
No |
|
MAS |
No |
|
FSCA SA |
No |
|
BVI FSC |
No |
|
VFSC |
No |
|
FSA (Seychelles) |
No |
Webull vs OctaFX: Trading Conditions
Trading Conditions | Webull | OctaFX |
---|---|---|
Minimum Deposit |
1 USD |
$100 |
Trading Platforms |
Own platform |
MetaTrader 4, MetaTrader 5 |
Max Leverage (Futures) |
1-2/1-4 |
1-500, for EU clients - 1-30 |
Supported Markets |
Stocks, options, ETFs, ADRs, cryptocurrencies |
32 currency pairs, CFDs on energy resources, cryptocurrencies, indices, gold, and silver |
Trading assets |
100+ |
70+ |
Trading Accounts |
Paper Account (Demo), Margin Account, Cash Account (IRA, Individual) |
Demo, OctaFX MT4, OctaFX MT5 |
Base Account Currencies |
USD |
USD, EUR |
Webull vs OctaFX: Fees
Webull | OctaFX | |
---|---|---|
Standard acc. spread EUR/USD, min pips |
0,6 |
|
Standard acc. spread EUR/USD, max pips |
1 |
|
ECN Commission |
||
ECN Spread EUR/USD |
||
Deposit fee, % |
No |
|
Withdrawal fee, % |
No |
|
Withdrawal fee, USD |
No |
|
Inactivity fee, $ |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Webull vs OctaFX: Trading Assets
Asset Name | Webull | OctaFX |
---|---|---|
Overall |
100+ |
70+ |
Forex |
No |
Yes |
Stocks |
Yes |
No |
Metals |
No |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
No |
Yes (CFD) |
Indices |
No |
Yes (CFD) |
ETFs |
Yes |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Webull or OctaFX: Investment Programs
Asset Name | Webull | OctaFX |
---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: OctaFX or Webull
Webull | OctaFX | |
---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
Own trading platform |
No |
|
Webull vs OctaFX: Deposit and Withdrawal Methods
Webull | OctaFX | |
---|---|---|
Bank Wire |
||
Bank Card |
||
Neteller |
||
BTC |
||
Wise |
||
Payoneer |
||
USDT |
Webull vs OctaFX: Research
Research Type | Webull | OctaFX |
---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
Yes |
Webull vs OctaFX: Education
Education Type | Webull | OctaFX |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
OctaFX vs Webull: Support
Support Features | Webull | OctaFX |
---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
yes |
Online chat |
No |
Yes |
Other |
No |
Twitter, Telegram, or Facebook |
Webull vs OctaFX: Forex Bonuses and Promo
Promo | Webull | OctaFX |
---|---|---|
Forex Bonus |
Flexible bonus system with the ability to receive a bonus in the form of securities in the amount of up to 1600 USD |
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 |
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 Webull
-
Comment
The Webull broker is characterized by low-quality execution of transactions. Transactions revolve within the company. If you compare trading here with trading in other companies, the difference will be very noticeable. I do not advise.
-
Comment
I have been cooperating with Webull for the third month. It seems to me that this is a sufficient period to see all the obvious advantages and disadvantages of the company. First, about the cons, which, perhaps, only catch me. I don't like their terminal from the word "generally". It lacks tools for analysis, and performance leaves much to be desired. Another disadvantage is that access to margin trading is opened from $2,000 in the account balance. But still, I lingered here, because there are pluses: trading without spreads, increased leverage on intraday trading and a demo account for testing strategies. I don’t see a worthy replacement among competitors yet, I stay with Webull until better times.
-
Comment
I won’t complain about Webull either. My homie advised me to cooperate with this broker and I immediately checked its legal documents. It’s as clear as day, the company operates in the legal field. Trust my experience, there are a lot of scammers these days but Webull is not one of them. The broker's terminal is rock-solid, and after the last update, it became even more convenient to use it compared to before. Everything is smooth with payments and the company strives to make the process even better.
-
Comment
I opened an account with Webull a year ago, the company's experts helped to develop a strategy and decide on financial instruments. I cannot say that I am very impressed with the results, but there is an indisputable plus from our cooperation. Transactions are well protected, there is no commission for withdrawing funds from the account.
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.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.