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


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Overview
XM is an international broker headquartered in Cyprus which offers MetaTrader 4 & 5 and over 1500 + tradable assets.	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
Experienced traders looking to trade shares in high volume using their Zero account MetaTrader users wishing to explore XM's offering while maintaining their preferred 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
Licenses
Financial Licenses Regulation Regulated Top-tier Licenses 2 Other Licenses 1 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
ASIC (Australia) CySec (Cyprus) ADGM (United Arab Emirates)	None
The Good
Competitive commissions on their Zero account Modest asset offering of 1500+ tradable instruments (similar to competitors in the same range)	High leverage offered due to no regulatory restrictions MetaTrader 4 & 5 platforms with their own copy trading integration Low minimum deposit
The Bad
No proprietary platforms or technology Expensive spreads and trading fees Lack of asset variety when compared to other brokers in the same range	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
2009	2011
💳 Minimum Deposit Range
$5	$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
11 - USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR.	2 - EUR, USD.
🗽 Available to U.S Citizens
No	No
❌ Restricted Countries
US, CA.	US, CA.
📊 STP Account
No	Yes
📊 DMA Account
No	No
📊 ECN Account
No	Yes
Banking License
No	No
Debit Card
No	No
Assets
📚 Assets Type
CFDs	CFDs
Total Asset Offering
1,382	80
Exchange Access
0	0
📙 Real Stocks
0	0
📙 Stock CFDs
1,286	0
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
57	35
📗 Commodities
0	0
📗 Commodities CFDs
15	5
📕 Indices
0	0
📕 Indices CFDs
14	10
📔 ETFs
0	0
📔 ETFs CFDs
0	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
0	30
📒 Bonds
0	0
📒 Bonds CFDs
0	0
📓 Options
0	0
📓 Options CFDs
0	0
📗 Futures
0	0
📗 Futures CFDs
10	0
Trading Experience
📈 Minimum Stock Trade Size
Variable - Fractions allowed	Unavailable
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
Unavailable	$1,000 (0.01 Lots)
📉 Minimum FX Trade Size
$100 (0.001 Lots)	$1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
Varies by Commodity (Eg: 0.01 Troy ounce of Gold)	$1,000 (0.01 Lots)
📉 Minimum Bonds Trade Size
Unavailable	Unavailable
📈 Minimum Futures Trade Size
Varies by Commodity (Eg: 0.01 Troy ounce of Gold)	Unavailable
📉 Minimum Options Trade Size
Unavailable	Unavailable
💪 Retail Leverage
30	500
💪 Professional Leverage
500	Unavailable
✍ Customisable Leverage
Yes	Yes
🎲 Deleveraged Trading
No	Yes
🎓 Demo Account
Yes	Yes
📱 IOS App
No	Yes
📱 Android App
No	Yes
📺 MetaTrader 4
Yes	Yes
📺 MetaTrader 5
Yes	Yes
📺 cTrader
No	No
💻 Web trader
Yes	Yes
💻 TradingView Platform
No	No
💻 Proprietary Platform
No	No
📊 Multi-chart Tools
Yes	Yes
👬 Copy Trading
Yes	Yes
👫 Social Trading
No	Yes
🔑 Guaranteed Stop-loss
No	No
🔨 Trailing Stop-loss
Yes	Yes
Fees
💰 Inactivity Fee
Yes, $15 one time payment after 1 year of inactivity and then $5 monthly.	None
💰 Deposit Fees
None	None
💰 Withdrawal Fees
None	None
💰 Commissions
Yes on Zero accounts ($7 per lot round turn).	None
Spreads
📈 EUR/USD
Dynamic - From 1.7 Pips	Dynamic - From 0.6 Pips
📉 SP500
Dynamic - From 40 Pips	Dynamic - From 20 Pips
📈 GOLD
Dynamic - From 35 Pips	Dynamic - From 180 Pips
📉 TSLA (Stock CFD)
Dynamic - From $9.4	Unavailable
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Unavailable	Dynamic - From $57
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
No	No
🗓 Economic Calendar
Yes	Yes
📜 Integrated Newsfeed
No	No
📡 Reuters Feed
No	No
📡 Educational Content
Yes	No
📡 Live Chat Support
No	No
📡 Video Tutorials
No	No
📡 Account Management
Yes	No
📡 Webinars
Yes	No