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


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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.	FXCM is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering. **The below information is provided based on FXCM EU LTD. For other FXCM entities, please go to the corresponding FXCM website for more information. TheTradingBible.com is acting in a capacity of marketing affiliate for FXCM EU LTD.
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	Professional algorithmic traders looking to benefit from their comprehensive API offering.
Licenses
Financial Licenses Regulation Unregulated Top-tier Licenses 0 Other Licenses 0 Provided by TheTradingBible.com Learn More	Financial Licenses Regulation Regulated Top-tier Licenses 2 Other Licenses 2 Provided by TheTradingBible.com Learn More
🏛 Financial Regulators
None	ASIC (Australia) CySec (Cyprus) FCA (United Kingdom) FSCA (South Africa)
The Good
High leverage offered due to no regulatory restrictions MetaTrader 4 & 5 platforms with their own copy trading integration Low minimum deposit	Comprehensive API offering with a variety of conditions and programming languages at no additional cost Proprietary platform (Trading Station)
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)	Lack of asset variety in their offering (over 463+ financial instruments) Costly spreads when compared to similar competitors
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	1999
💳 Minimum Deposit Range
$25	$50
💰 Payment Methods
Visa Mastercard Maestro Skrill Neteller Bitcoin Ethereum USDT (Tether) Litecoin Dogecoin Bank Transfer	Visa Mastercard Bank Transfer Neteller Skrill
💵 Account Base Currencies
2 - EUR, USD.	4 - EUR GBP, USD, CHF.
🗽 Available to U.S Citizens
No	No
❌ Restricted Countries
US, CA.	RU, US, CA, JP, SK, BE and more.
📊 STP Account
Yes	No
📊 DMA Account
No	No
📊 ECN Account
Yes	No
Banking License
No	No
Debit Card
No	No
Assets
📚 Assets Type
CFDs	CFDs
Total Asset Offering
80	447
Exchange Access
0	0
📙 Real Stocks
0	0
📙 Stock CFDs
0	341
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
35	41
📗 Commodities
0	0
📗 Commodities CFDs
5	14
📕 Indices
0	0
📕 Indices CFDs
10	19
📔 ETFs
0	0
📔 ETFs CFDs
0	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
30	22
📒 Bonds
0	0
📒 Bonds CFDs
0	10
📓 Options
0	0
📓 Options CFDs
0	0
📗 Futures
0	0
📗 Futures CFDs
0	0
Trading Experience
📈 Minimum Stock Trade Size
Unavailable	1 Share
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
$1,000 (0.01 Lots)	1 Unit
📉 Minimum FX Trade Size
$1,000 (0.01 Lots)	$1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
$1,000 (0.01 Lots)	Varies by Commodity (Eg: 1 Troy ounce of Gold)
📉 Minimum Bonds Trade Size
Unavailable	Unavailable
📈 Minimum Futures Trade Size
Unavailable	Unavailable
📉 Minimum Options Trade Size
Unavailable	Unavailable
💪 Retail Leverage
500	30
💪 Professional Leverage
Unavailable	400
✍ Customisable Leverage
Yes	No
🎲 Deleveraged Trading
Yes	No
🎓 Demo Account
Yes	Yes
📱 IOS App
Yes	Yes
📱 Android App
Yes	Yes
📺 MetaTrader 4
Yes	Yes
📺 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	Yes
👫 Social Trading
Yes	Yes
🔑 Guaranteed Stop-loss
No	No
🔨 Trailing Stop-loss
Yes	Yes
Fees
💰 Inactivity Fee
None	50 units of the account's base currency yearly after 1 year of inactivity.
💰 Deposit Fees
None	Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).
💰 Withdrawal Fees
None	None
💰 Commissions
None	None
Spreads
📈 EUR/USD
Dynamic - From 0.6 Pips	Dynamic - From 1.2 Pips
📉 SP500
Dynamic - From 20 Pips	Dynamic - From 58 Pips
📈 GOLD
Dynamic - From 180 Pips	Dynamic - From 41 Pips
📉 TSLA (Stock CFD)
Unavailable	Dynamic - From $1.04
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Dynamic - From $57	Dynamic - From $51
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
No	No
🗓 Economic Calendar
Yes	Yes
📜 Integrated Newsfeed
No	Yes
📡 Reuters Feed
No	No
📡 Educational Content
No	Yes
📡 Live Chat Support
No	Yes
📡 Video Tutorials
No	No
📡 Account Management
No	No
📡 Webinars
No	No