OctaFX
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Vs.

IG
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73% of retail CFD accounts lose money.

OctaFX Vs. IG - Compare and Choose the Right One

Updated May 13 2022

Visit

Your capital is at risk.

Visit

73% of retail CFD accounts lose money.

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.

IG is a global broker established in 1974 that holds 10 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.

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 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
Licenses

Financial
Licenses

Regulation

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
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Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

1

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • Not regulated, Registered in St. Vincent and the Grenadines under IBC 19776.
  • ASIC (Australia)
  • FCA (UK)
  • NFA (United States)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • FFAJ (Japan)
  • 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
  • Broad platform offering with high customisability and integrated news feeds
  • Comprehensive asset offering with more than 10,000 + CFDs or real stocks and ETFs
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)
  • 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
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.

  • 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 1974
💳 Minimum Deposit
$25

0 for Bank Transfers, 300 € for Paypal and Debit / Credit cards.

💰 Payment Methods
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • Neteller
  • Bitcoin
  • Ethereum
  • USDT (Tether)
  • Litecoin
  • Dogecoin
  • Bank Transfer
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
💵 Account Base Currencies
2 - EUR, USD. 6 - AUD, EUR, GBP, HKD, SGD, USD.
🗽 Available to U.S Citizens
No Yes (excluding CFDs)
❌ Restricted Countries
US, CA. SY, IR.
📊 STP Account
Yes No
📊 DMA Account
No Yes
📊 ECN Account
Yes Yes
Assets
📚 Available Assets

CFDs on currencies, commodities, indices and cryptocurrencies.

  • Real stocks and ETFs
  • CFDs on stocks, ETFs, currencies, commodities, cryptocurrencies indices and bonds.
📙 Stocks
N/A

10,000+ CFDs / Offering from 8 exchanges worldwide for real stocks

📘 Currency Pairs
35 210
📗 Commodities
5 37
📕 Indices
10 76
📔 ETFs
N/A 2,000 + both CFDs and real ETFs
💸 Cryptocurrencies
30 15
📒 Bonds
N/A 19
📓 Options
N/A Availability only for select countries.
📗 Futures
N/A

Several contracts in commodities and indices with various expiration dates.

📝 Notes:

All of OctaFX’s assets are CFDs.

IG provides both CFD trading and real equity. US traders cannot trade CFDs.

Trading Experience
📈 Minimum Stock Trade Size
N/A 1 Share
📉 Minimum ETFs Trade Size
N/A 1 ETF
📈 Minimum Crypto Trade Size
$1,000 (0.01 Lots)

0.01 Contracts (IG Provides a standard contract containing a particular quantity of an asset, for example, ADA’s contract has 100 ADA coins)

📉 Minimum FX Trade Size
$1,000 (0.01 Lots)

1 Contract (IG Provides a standard contract containing a particular quantity of an asset, for example, 1 EUR / USD standard contract has 10,000 units)

📈 Minimum Commodities Trade Size
$1,000 (0.01 Lots) 1 Contract
📉 Minimum Bonds Trade Size
N/A 1 Contract
📈 Minimum Futures Trade Size
N/A 1 Contract
📉 Minimum Options Trade Size
N/A Varies per option (usually 1 contract)
💪 Retail Leverage
Up to 1:500 Up to 1:30
💪 Professional Leverage
N/A Up to 1:500
✍ Customisable Leverage
Yes No
🎲 Deleveraged Trading
Yes No
🎓 Demo Account
Yes Yes
📱 IOS App
No Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
Yes No
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
No Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes No
👫 Social Trading
Yes No
🔑 Guaranteed Stop-loss
No Yes
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee
No

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

💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions
No

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.

Spreads
📈 EUR/USD
Dynamic - From 0.6 Pips Dynamic - From 0.9 Pips
📉 SP500
Dynamic - From 20 Pips Dynamic - From 150 Pips
📈 GOLD
Dynamic - From 180 Pips Dynamic - From 50 Pips
📉 TSLA (Stock CFD)
N/A Dynamic - From $1.03
📈 XLK (ETF - CFD)
N/A Dynamic - From 0 Pips
📉 BTC
Dynamic - From $57 Dynamic - From $140
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No Yes
📡 Reuters Feed
No Yes

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