iFOREX Europe
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89.13% of retail CFD accounts lose money.

Vs.

OctaFX
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Your capital is at risk.

iFOREX Europe Vs. OctaFX - Compare Trustworthiness, Capabilities, Fees and Legitimacy

Updated Oct 20 2022

Visit

89.13% of retail CFD accounts lose money.

Visit

Your capital is at risk.

Overview

iFOREX Europe (formerly Vestle) is the Europe brand part of the global iForex Group that specialises in CFD trading and offers over 600 instruments over currencies, commodities, indices, shares, ETFs and cryptocurrencies.

OctaFX is an international FX broker operating as an incorporated company from St. Vincent and the Grenadines specialising in currencies trading via MetaTrader 4 & 5.

Best For
  • Beginner traders with little to no experience looking to test a simple platform
  • Traders looking for a high leverage off-shore broker
  • New traders looking to experiment using MT4 & 5 with a no commission low-cost broker
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

1

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • CySec (Cyprus)

None

The Good
  • Extremely simple platform designed for beginners with little needs
  • High leverage offered due to no regulatory restrictions
  • MetaTrader 4 & 5 platforms with their own copy trading integration
  • Low minimum deposit
The Bad
  • High spreads on all of their instruments
  • Web and mobile platforms are slow and lack tools
  • Their FAQ database doesn’t effectively answer the most common questions any trader could have
  • Despite having financial licenses, OctaFX does not operate using them, meaning that they are an unregulated broker.
  • Their asset offering is extremely limited (80 instruments)
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 day 1 day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
2018 2011
💳 Minimum Deposit Range
$200 $25
💰 Payment Methods
  • Bank Transfer
  • Credit Card
  • Debit Card
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • Neteller
  • Bitcoin
  • Ethereum
  • USDT (Tether)
  • Litecoin
  • Dogecoin
  • Bank Transfer
💵 Account Base Currencies
1 - EUR 2 - EUR, USD.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

US, CA, SY, IR, JP.

US, CA.

📊 STP Account
Yes Yes
📊 DMA Account
No No
📊 ECN Account
No Yes
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs CFDs
Total Asset Offering
584 80
Exchange Access
0 0
📙 Real Stocks
0 0
📙 Stock CFDs
400 0
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
50 35
📗 Commodities
0 0
📗 Commodities CFDs
19 5
📕 Indices
0 0
📕 Indices CFDs
32 10
📔 ETFs
0 0
📔 ETFs CFDs
42 0
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
41 30
📒 Bonds
0 0
📒 Bonds CFDs
0 0
📓 Options
0 0
📓 Options CFDs
0 0
📗 Futures
0 0
📗 Futures CFDs
0 0
Trading Experience
📈 Minimum Stock Trade Size
$2,500 in trade value Unavailable
📉 Minimum ETFs Trade Size
$2,500 in trade value Unavailable
📈 Minimum Crypto Trade Size
$2,500 in trade value $1,000 (0.01 Lots)
📉 Minimum FX Trade Size
$2,500 in trade value $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
$2,500 in trade value $1,000 (0.01 Lots)
📉 Minimum Bonds Trade Size
Unavailable Unavailable
📈 Minimum Futures Trade Size
Unavailable Unavailable
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
30 500
💪 Professional Leverage
500 Unavailable
✍ Customisable Leverage
No Yes
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
No Yes
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
Yes No
📊 Multi-chart Tools
No Yes
👬 Copy Trading
No Yes
👫 Social Trading
No Yes
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
No Yes
Fees
💰 Inactivity Fee

iFOREX Europe charges an inactivity fee of $15 for every quarter of inactivity.

None
💰 Deposit Fees
None None
💰 Withdrawal Fees

No for credit cards but yes for bank wires (up to $20).

None
💰 Commissions
None None
Spreads
📈 EUR/USD
Dynamic - From 0.7 Pips Dynamic - From 0.6 Pips
📉 SP500
Dynamic - From 90 Pips Dynamic - From 20 Pips
📈 GOLD
Dynamic - From 35 Pips Dynamic - From 180 Pips
📉 TSLA (Stock CFD)
Dynamic - From $3 Unavailable
📈 XLK (ETF - CFD)
Dynamic - From 30 Pips Unavailable
📉 BTC
Dynamic - From $120 Dynamic - From $57
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No
📡 Educational Content
No No
📡 Live Chat Support
No No
📡 Video Tutorials
No No
📡 Account Management
Yes No
📡 Webinars
Yes No