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

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 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.

• 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

None

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

• 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

• 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

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

• Visa
• Mastercard
• Bank Transfer
• Paypal

US, CA.

SY, IR.

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.