IG Vs. OctaFX - Compare Trustworthiness, Capabilities, Fees and Legitimacy

IG is a global broker established in 1974 that holds 8 reputable financial licenses and provides CFD trading on stocks, commodities, ETFs, indices, cryptocurrencies, bonds, futures, options along with real stocks through their share dealing account.

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.

• Professional traders looking to exploit their customisable platform and broad asset offering
• High volume traders that can offset their commission costs by trading in larger volumes

• Traders looking for a high leverage off-shore broker
• New traders looking to experiment using MT4 & 5 with a no commission low-cost broker

• ASIC (Australia)
• FMA (New Zealand)
• NFA (United States)
• DFSA (United Arab Emirates)
• FINMA (Switzerland)
• MAS (Singapore)
• FFAJ (Japan)
• FSCA (South Africa)
• BMA (Bermuda)

None

• Broad platform offering with high customisability and integrated news feeds
• Comprehensive asset offering with more than 10,000 + CFDs or real stocks and ETFs

• High leverage offered due to no regulatory restrictions
• MetaTrader 4 & 5 platforms with their own copy trading integration
• Low minimum deposit

• There are too many small costs such as custody, in-and-out-commissions in some cases, management fees, etc
• Their standard contracts can be too large some times for low volume traders

• 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)

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• 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.

• Visa
• Mastercard
• Bank Transfer
• Paypal

• Visa
• Mastercard
• Maestro
• Skrill
• Neteller
• Bitcoin
• Ethereum
• USDT (Tether)
• Litecoin
• Dogecoin
• Bank Transfer

SY, IR.

US, CA.

After 24 months of inactivity, IG charges an $18 monthly fee.

Yes, they charge depending on the client’s account base currency and exchange location of the shares being traded. For example, for some clients US shares can have a minimum charge of $10 in-and-out.