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


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 TheTradingBible.com Learn More	Financial Licenses Regulation Unregulated Top-tier Licenses 0 Other Licenses 0 Provided by TheTradingBible.com Learn More
🏛 Financial Regulators
None	None
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
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
2011	2017
💳 Minimum Deposit Range
$25	0
💰 Payment Methods
Visa Mastercard Maestro Skrill Neteller Bitcoin Ethereum USDT (Tether) Litecoin Dogecoin Bank Transfer	Cryptocurrency Bank transfers Visa Mastercard
💵 Account Base Currencies
2 - EUR, USD.	All supported cryptocurrencies.
🗽 Available to U.S Citizens
No	Yes
❌ Restricted Countries
US, CA.	None
📊 STP Account
Yes	No
📊 DMA Account
No	No
📊 ECN Account
Yes	No
Banking License
No	No
Debit Card
No	Yes
Assets
📚 Assets Type
CFDs	Hybrid
Total Asset Offering
80	750
Exchange Access
0	0
📙 Real Stocks
0	0
📙 Stock CFDs
0	0
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
35	0
📗 Commodities
0	0
📗 Commodities CFDs
5	0
📕 Indices
0	0
📕 Indices CFDs
10	0
📔 ETFs
0	0
📔 ETFs CFDs
0	0
💸 Cryptocurrencies
0	750
💸 Cryptocurrency CFDs
30	0
📒 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
Unavailable	Unavailable
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
$1,000 (0.01 Lots)	$10
📉 Minimum FX Trade Size
$1,000 (0.01 Lots)	Unavailable
📈 Minimum Commodities Trade Size
$1,000 (0.01 Lots)	Unavailable
📉 Minimum Bonds Trade Size
Unavailable	Unavailable
📈 Minimum Futures Trade Size
Unavailable	Unavailable
📉 Minimum Options Trade Size
Unavailable	Unavailable
💪 Retail Leverage
500	100
💪 Professional Leverage
Unavailable	Unavailable
✍ Customisable Leverage
Yes	Yes
🎲 Deleveraged Trading
Yes	Yes
🎓 Demo Account
Yes	No
📱 IOS App
Yes	Yes
📱 Android App
Yes	Yes
📺 MetaTrader 4
Yes	No
📺 MetaTrader 5
Yes	No
📺 cTrader
No	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
None	None
💰 Deposit Fees
None	None
💰 Withdrawal Fees
None	None
💰 Commissions
None	Fixed 0.1% trade value fee for spot trades.
Spreads
📈 EUR/USD
Dynamic - From 0.6 Pips	Unavailable
📉 SP500
Dynamic - From 20 Pips	Unavailable
📈 GOLD
Dynamic - From 180 Pips	Unavailable
📉 TSLA (Stock CFD)
Unavailable	Unavailable
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 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
📡 Educational Content
No	Yes
📡 Live Chat Support
No	No
📡 Video Tutorials
No	Yes
📡 Account Management
No	No
📡 Webinars
No	No