OctaFX Vs. Oanda - 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.

Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms.

• Traders looking for a high leverage off-shore broker
• New traders looking to experiment using MT4 & 5 with a no commission low-cost broker

• Forex traders of all levels (from beginner to advanced)

None

• CFTC (U.S)
• NFA (U.S)
• ASIC (Australia)
• FCA (UK)
• MAS (Singapore)
• IIROC (Canada)
• FFAJ (Japan)
• BVI (British Virgin Islands)

• High leverage offered due to no regulatory restrictions
• MetaTrader 4 & 5 platforms with their own copy trading integration
• Low minimum deposit

• High trustworthiness, regulated by the best regulators in the world
• Fast, simple and professional trading platforms
• Competitive spreads in their currency pairs

• 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)

• Extremely limited offering of assets (104)
• No ability to purchase real stocks or cryptocurrencies, only CFDs

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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.

AF, AL, BS, BB, BW, BF, BI, KH, KY, CF, TD, CD, CG, CU, ER, ET, GH, IR, IQ, JM, KP, LY, MU, MN, MA, MM, NI, NG, PK, PS, PA, SN, SL, SO, SS, SD, SY, TT, TN, UG, VU, YE, ZW.

$10 after 1 year of inactivity.

Credit and Debit cards are free, when it comes to Bank transfer depends on the account's base currency (eg: the first withdrawal costs $, €, £ 20 and any subsequent ones 35). In the case of SGD, there are no fees.