Webull
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OctaFX
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Webull Vs. OctaFX - Compare and Choose the Right One

Updated May 13 2022

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Overview

Webull is a US-based broker that offers both real and leveraged products including Stocks, Crypto, Options, ETFs, and ADRs with zero commissions and no deposit minimums.

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.

Best For
  • Novices who want to enter the world of investing
  • Intermediate and advanced options traders
  • Professional day traders and portfolio managers 
  • Traders looking for a high leverage off-shore broker
  • New traders looking to experiment using MT4 & 5 with a no commission low-cost broker
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

2

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
  • HKMA (Hong Kong)
  • FINRA (United States)
  • Not regulated, Registered in St. Vincent and the Grenadines under IBC 19776.
The Good
  • Trade any asset class from just $5
  • Easy-to-use investing app
  • Fully extended trading hours
  • High leverage offered due to no regulatory restrictions
  • MetaTrader 4 & 5 platforms with their own copy trading integration
  • Low minimum deposit
The Bad
  • No international clients at the moment
  • No joint accounts
  • 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)
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
2017 2011
💳 Minimum Deposit
€, £, $ - 0 $25
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • Neteller
  • Bitcoin
  • Ethereum
  • USDT (Tether)
  • Litecoin
  • Dogecoin
  • Bank Transfer
💵 Account Base Currencies
1 - USD 2 - EUR, USD.
🗽 Available to U.S Citizens
Yes No
❌ Restricted Countries
EU, UK, CA, JP, IN, IR, MY, ZA, AU. US, CA.
📊 STP Account
No Yes
📊 DMA Account
Yes No
📊 ECN Account
No Yes
Assets
📚 Available Assets

Real stocks, ETFs and cryptocurrencies

CFDs on currencies, commodities, indices and cryptocurrencies.

📙 Stocks
10,000+ real stocks from 5 exchanges worldwide N/A
📘 Currency Pairs
0 35
📗 Commodities
0 5
📕 Indices
0 10
📔 ETFs
2400+ Real ETFs N/A
💸 Cryptocurrencies
20 30
📒 Bonds
0 N/A
📓 Options
Several Option Chains N/A
📗 Futures
N/A N/A
📝 Notes:
WeBull is mostly dedicated to U.S client and does not provide CFDs.

All of OctaFX’s assets are CFDs.

Trading Experience
📈 Minimum Stock Trade Size
$5 N/A
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
Varies by cryptocurrency $1,000 (0.01 Lots)
📉 Minimum FX Trade Size
N/A $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
N/A $1,000 (0.01 Lots)
📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
Varies per Option contract N/A
💪 Retail Leverage
1:4 Up to 1:500
💪 Professional Leverage
N/A N/A
✍ Customisable Leverage
No Yes
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes No
📱 Android App
Yes Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
No Yes
💻 Web trader
No Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
Yes No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No Yes
👫 Social Trading
No Yes
🔑 Guaranteed Stop-loss
Yes No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee
No No
💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions
No No
Spreads
📈 EUR/USD
N/A Dynamic - From 0.6 Pips
📉 SP500
Dynamic - Market spreads Dynamic - From 20 Pips
📈 GOLD
N/A Dynamic - From 180 Pips
📉 TSLA (Stock CFD)
Dynamic - Market spreads N/A
📈 XLK (ETF - CFD)
Dynamic - Market spreads N/A
📉 BTC
Dynamic - Market spreads Dynamic - From $57
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
No No