OctaFX
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Vs.

Binance
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Investing in cryptocurrencies involves risk.

OctaFX Vs. Binance - Compare and Choose the Right One

Updated May 13 2022

Visit

Your capital is at risk.

Visit

Investing in cryptocurrencies involves risk.

Overview

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.

Binance is a global cryptocurrency exchange founded in 2017 in China with the aim of providing the ultimate trading solution. Currently, they offer more than 700+ cryptocurrencies, derivatives (such as Vanilla options, futures, staking), a Launchpad platform for ICOs and many more services such as several trading platforms with different complexity levels.

Best For
  • Traders looking for a high leverage off-shore broker
  • New traders looking to experiment using MT4 & 5 with a no commission low-cost broker
  • Avid cryptocurrency traders and investors from intermediate to expert levels
  • Day traders looking for a high liquidity exchange with competitive fees
Licenses

Financial
Licenses

Regulation

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
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Financial
Licenses

Regulation

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • Not regulated, Registered in St. Vincent and the Grenadines under IBC 19776.

None, not required at the moment.

The Good
  • High leverage offered due to no regulatory restrictions
  • MetaTrader 4 & 5 platforms with their own copy trading integration
  • Low minimum deposit
  • Largest cryptocurrency exchange in the world by liquidity
  • Massive cryptocurrencies selection available (700+)
  • Large amount of financial products in the form of derivatives (Vanilla options, futures, etc)
  • Advanced trading platforms with visual order books at no cost
The Bad
  • 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)
  • Interface can be complex to use for beginners
  • The wide selection of products and derivatives can also be intimidating for beginners
Status
Operational Operational
Recent News
N/A N/A
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.

Only to increase withdrawal limits:

  • 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
2011 2017
💳 Minimum Deposit
$25 0
💰 Payment Methods
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • Neteller
  • Bitcoin
  • Ethereum
  • USDT (Tether)
  • Litecoin
  • Dogecoin
  • Bank Transfer
  • All supported cryptocurrencies
  • Bank transfers
  • Visa
  • Mastercard
💵 Account Base Currencies
2 - EUR, USD. All supported cryptocurrencies.
🗽 Available to U.S Citizens
No Yes (excluding few states)
❌ Restricted Countries
US, CA. None
📊 STP Account
Yes No
📊 DMA Account
No No
📊 ECN Account
Yes No
Assets
📚 Available Assets

CFDs on currencies, commodities, indices and cryptocurrencies.

  • More than 700+ real cryptocurrencies
  • A wide selection of derivatives based on real cryptocurrencies such as futures, vanilla options, etc.
📙 Stocks
N/A N/A
📘 Currency Pairs
35 N/A
📗 Commodities
5 N/A
📕 Indices
10 N/A
📔 ETFs
N/A N/A
💸 Cryptocurrencies
30 700+
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:

All of OctaFX’s assets are CFDs.

Binance specialises in real cryptocurrencies and tokenised derivatives based on their own cryptocurrency offering.

Trading Experience
📈 Minimum Stock Trade Size
N/A N/A
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
$1,000 (0.01 Lots) $10
📉 Minimum FX Trade Size
$1,000 (0.01 Lots) N/A
📈 Minimum Commodities Trade Size
$1,000 (0.01 Lots) N/A
📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:500 Up to 1:20
💪 Professional Leverage
N/A N/A
✍ Customisable Leverage
Yes N/A
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes No
📱 IOS App
No Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
Yes No
💻 Web trader
Yes Yes
💻 TradingView Platform
No Yes
💻 Proprietary Platform
No Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes No
👫 Social Trading
Yes No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes No
Fees
💰 Inactivity Fee
No No
💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions
No

Binance charges a fixed 0.1% trade value fee for spot trades.

Spreads
📈 EUR/USD
Dynamic - From 0.6 Pips N/A
📉 SP500
Dynamic - From 20 Pips N/A
📈 GOLD
Dynamic - From 180 Pips N/A
📉 TSLA (Stock CFD)
N/A N/A
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $57 Dynamic - From $1
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes No
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No

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