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Broker comparison between OCTAFX vs Binary.com
Do you want to figure out which is the better broker, octafx or binary-com?
In the following table, you can compare the features of octafx and binary-com side by side to determine the best fit for your trading needs.
Wikifx rating
Basic Information
Benchmark
Account
Which broker is more reliable?
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction.
2.Does octafx or binary-com have a lower transaction costs and fees?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we believe that octafx and binary-com are both reliable. We analyze the reasons as following:
Forex broker introduction
octafx
Basic Information & Regulators of OTCAFX
Octa Markets was established in 2017 with the aim of developing into a reputable, reliable, fair, and transparent forex trader. Octa Markets was authorized and regulated by the Cyprus Securities and Exchange Commission in 2018 (license number: 372/18).
Safety Analysis of OTCAFX
Octa Markets holds a full license from CySEC, a regulatory body that regulates forex fairly strictly, and therefore, a certain level of security can be ensured. Moreover, the trader has initiated a negative balance protection policy for each account, which completely separates the client's funds from the broker's operating funds to protect the safety of the client's funds.
Market Instruments
Octa Markets offers investors the most popular tradable instruments on the financial markets, mainly spot Forex, CFDs on stock indices, CFDs on spot metals, CFDs on commodities.
Leverage & Account of OTCAFX
Octa Markets offers two different account types for conservative and aggressive traders: MetaTrader5 account and cTrader account. The maximum leverage of the account is set according to the amount of money deposited by the trader's registration. The maximum default leverage is 1:20 for major currency pairs, 1:20 for minor currency pairs, gold and major indices, and 1:10 for commodities other than gold and non-major stock indices.
Spreads & Commission Fees of OTCAFX
The minimum spread for EURUSD is 0.4 pips, for GBPUSD 0.5 pips, and for EURGBP 0.6 pips. The minimum spread for spot gold is 0.8 pips, and for spot silver is 1.0 pips. The minimum spread for MetaTrader5 accounts starts from 0.3 pips, and no commission is charged for Forex and precious metals trading. cTrader accounts have a minimum spread of 0.0 pips, and a commission is charged for trading, which includes the opening fee for one side and the closing fee for the other side. There is no SWAP for both accounts. The trading commission on the cTrader Platform consists of a side charge for the opening of the position and another side charge for the closure of the trade.
Trading Platform Applied of OTCAFX
Octa Markets provides traders with two market-leading and high-performance trading software packages: MT5 and cTrader5. MT5 is the latest version of the multifunctional trading platform with a powerful trading system that supports various order types, including markets, pending orders, and stop orders, and supports desktop, web, Android, and iOS versions. cTrader5 features secondary quotes, server tracking, stops, cloud services to keep all accounts and templates in one place, one-click trading, and advanced charting features. Traders have the flexibility to choose the trading software according to their needs.
Deposit & Withdrawal of OTCAFX
Octa Markets Cyprus Ltd does not charge its clients any fees. Moreover, deposit and withdrawal fees applied by third parties are also covered by the broker Octa Markets supports wire transfers with a minimum amount of 50 Euros, which can be received within 3 to 7 business days.
binary-com
General Information & Regulation
In 2013, BetonMarkets.com was rebranded as Binary.com by the parent company, to spearhead an expansion plan to step into the financial trading markets. Binary.com 's head office located on Malta, at Mompalao Building, Suite 2, Tower Road, Msida MSD1825. Binary.com is regulated by the Malta Financial Services Authority as a Category 3 Investment Services provider under the license number IS/70156. On the Isle of Man and the UK, Binary.com is regulated by the Gambling Supervision Commission and the UK Gambling Commission respectively.
Market Instruments
Investors can trade binary options, lookbacks, forex, CFDs, commodities, metals (gold, silver, platinum, and palladium) through the Binary.com brokerage firm.
Binary.com Minimum Deposit
Unlike most binary options brokers, which require a minimum deposit of $250 to open a live trading account, Binary.com only require a minimum deposit of just $5, hence making Binary.com more accessible.
Spreads & Commissons
Spreads differ in light of trading accounts. Variable spreads start from 1.2 pips in the Standard accounts, spreads from 0.9 pips in the Advanced account. The commission part is not fully disclosed on the Binary.com website.
Binary.com Leverage
Trading leverage vary depending on various types. Binary.com uses the dynamic leverage, from 1:300 to 1:1000. Inexperienced traders are advised not to use such high leverage.
Binary.com Trading Platform
Binary.com offers traders the Deriv.com trading platform. Traders can trade a wide range of financial instruments on the Deriv.com platform, an easy-to-use and versatile trading platform for both novice and experienced traders. There is also SmartTrader, the preferred binary options trading platform that allows traders to trade on a simple, user-friendly online platform for the global financial markets.
Deposit & withdrawal
Binary.com welcomes a variety of payment and withdrawal methods. The main payment methods are Wire Transfer (for EUR, USD, GBP, AUD), PayTrust (for USD), ZingPay(forEUR,USD, GBP,AUD),Helpay(forUSD), VISA/MASTERCARD/Maestro (for EUR, USD, GBP, AUD), Fasapay (for USD), Perfect Money (for EUR). Binary.com does not provide detailed information on the fees for deposit and withdrawal.
Binary.com Customer Support
Binary.com has translated their website into a dozen different languages. As for customer support, traders can contact the support team through Live chat. The full details can be found on the “Contact US” area of the website.
Does octafx or binary-com have a lower transaction costs and fees?
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive octafx and binary-com are, we first considered common fees for standard accounts. On octafx, the average spread for the EUR/USD currency pair is -- pips, while on binary-com the spread is --.
Which broker is safer, octafx or binary-com?
To determine the safety of a forex brokers, our experts take various factors into consideration in a multi-dimensional manner. This includes which regulatory licenses the forex trader holds and how reputable those licenses are. We also consider the history of a forex dealer, as long-standing dealers are usually more reliable and trustworthy than newer start-ups. octafx is regulated by CYSEC. binary-com is regulated by LFSA,VFSC,FSC,FSA.
Which broker provides better trading platform, octafx or binary-com?
When our experts review a broker, they usually open real trading accounts and trade through the broker's trading platform. This gives us a better overall assessment of the quality of the platform, the ease of use and the features it offers. octafx Available trading platforms include --, tradable financial instruments include -- binary-com works/provides -- trading platform, trading instruments --
