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Do you want to know which is the better broker between Octa and FXCM ?
In the table below, you can compare the features of Octa , FXCM side by side to determine the best fit for your needs.
Long: -6.42
Short: 2.04
Long: -45.93
Short: 21.43
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of octafx, fxcm lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Registered in | Cyprus |
Regulated by | CYSEC |
Year(s) of establishment | 2-5 years |
Trading instruments | 28 Currency pairs + 2 metals + 2 energies + 10 indices |
Minimum Initial Deposit | 100 euro |
Maximum Leverage | 1:30 |
Minimum spread | 0.3 pips onwards |
Trading platform | MetaTrader 5 |
Deposit and withdrawal method | VISA, skrill, Swissquote Bank SA, Rietumu Bank, BlueOrange Bank. |
Customer Service | Email, address, live chat |
Fraud Complaints Exposure | Yes |
Negative balance protection | Yes |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros:
Wide range of trading instruments available, including 28 currency pairs, 2 metals, 2 energies, and 10 indices.
Competitive spreads, starting from as low as 0.3 pips, with zero commission charges.
Convenient and feasible payment methods, with no extra fees charged by the company.
MetaTrader 5 platform available for trading, with a user-friendly interface and a variety of features.
Back office support available from 9:00 to 18:00 EET Monday to Friday, and live chat service also provided for customers.
Regulated by the CYSEC, ensuring a high level of safety and security for clients' funds.
Straightforward and detailed website, making it easy for clients to navigate and find the information they need.
Cons:
Limited educational resources, with only a few calculators available.
No other account types are offered besides the MetaTrader 5 account.
Maximum leverage is relatively low, only up to 1:30.
Limited customer support options, with only email and live chat available.
No physical office or phone support available, which may be inconvenient for some clients.
Limited bonuses or promotions offered compared to other brokers.
No mobile app available for trading, which may be a disadvantage for clients who prefer to trade on-the-go.
Advantages | Disadvantages |
OctaFX offers tight spreads and fast execution due to its Market Making model. | As a counterparty to its clients' trades, OctaFX has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients. |
OctaFX is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, OctaFX acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that OctaFX has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with OctaFX or any other MM broker.
OctaFX is a Cyprus-based forex broker regulated by the CYSEC. The company offers trading in 28 currency pairs, 2 metals, 2 energies, and 10 indices with a maximum leverage of up to 1:30. OctaFX has only one MetaTrader 5 account type with zero commission and a minimum deposit requirement of 100 euros. Deposits and withdrawals are feasible through a variety of payment methods, with no extra fees charged by OctaFX. Customer support is available through email and live chat, and the broker's correspondence address is in Limassol, Cyprus.
In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
Advantages | Disadvantages |
Wide range of currency pairs and other instruments available for trading | Limited selection of commodities and cryptocurrencies |
Option to trade indices | No individual stock trading available |
Competitive spreads | Limited selection of exotic currency pairs |
Access to trading gold and silver | No access to other precious metals such as platinum or palladium |
OctaFX offers a diverse range of instruments for traders to choose from, including 28 currency pairs, 2 metals, 2 energies, and 10 indices. Traders can access major currency pairs such as EUR/USD and USD/JPY, as well as less commonly traded pairs like USD/TRY and USD/HKD. In addition, OctaFX offers trading in gold and silver, as well as energies such as Brent crude oil and natural gas. Traders can also access indices such as the FTSE 100 and the Nikkei 225. However, OctaFX's instrument selection does have some limitations, such as a limited selection of cryptocurrencies and no individual stock trading available. Overall, the range of instruments offered by OctaFX is competitive, with a strong focus on forex trading.
Advantages | Disadvantages |
No commission fees | Limited account types |
Low spreads for major currency pairs | Higher spreads for minor and exotic pairs |
Detailed information on spreads, SWAPs, and stop levels | No variable spreads |
No hidden fees or charges | Limited transparency on rollover costs |
OctaFX offers a no-commission fee trading model with a single account type, which can be an advantage for traders who prefer simplicity and transparency. The broker offers competitive spreads for major currency pairs, with spreads for EURUSD ranging from 0.4 to 0.5 pips. In addition, OctaFX provides detailed information on spreads, SWAPs, and stop levels for each trading instrument, which can help traders make informed decisions. However, there are some disadvantages to consider, such as higher spreads for minor and exotic currency pairs, limited transparency on rollover costs, and the lack of variable spreads, which may not suit some traders' needs. Overall, the costs and fees of OctaFX are relatively low, and the broker provides transparency and clarity in its pricing structure.
Advantages | Disadvantages |
Only one account type makes it simple and easy to choose and use | Limited options for traders who may want more customization |
Zero commission allows for more cost-effective trading | Potentially limited profit margins for the broker, which could affect service quality |
Low minimum deposit of 100 euro makes trading accessible to more individuals | Some traders may prefer higher deposit requirements for increased credibility and access to more features |
Competitive spreads from 0.3 pips can result in better trading conditions | Spread may widen during news releases and other market events, resulting in increased trading costs |
Regarding the account types dimension, OctaFX offers a single account type using the popular MetaTrader 5 trading platform. This simplicity may appeal to traders looking for an uncomplicated trading experience. Additionally, the absence of commissions and competitive spreads starting from 0.3 pips may result in more cost-effective trading for clients. However, the single account type may not be ideal for traders looking for more customization, and some may prefer higher minimum deposit requirements for increased credibility and access to additional features. It's worth noting that spreads may widen during news releases and other market events, which could result in increased trading costs.
Advantages | Disadvantages |
Advanced Trading Tools | May be overwhelming for beginner traders |
Flexible Trading Options | No mobile or web-based platforms available |
Customizable Interface | Limited access to third-party plugins and add-ons |
Supports Automated Trading | Limited educational resources for platform-specific features |
Access to Market Depth Information | Limited charting tools and technical indicators |
OctaFX offers the popular MetaTrader 5 (MT5) platform as their sole trading platform. MetaTrader 5 is well-known in the forex industry for its advanced trading tools, customizable interface, and support for automated trading. With MetaTrader 5, traders can access flexible trading options, including access to market depth information, as well as a wide range of trading instruments. However, the platform may be overwhelming for beginner traders and it currently lacks mobile or web-based platforms. Additionally, while MetaTrader 5 does offer some charting tools and technical indicators, it may be limited compared to other trading platforms. Finally, there is also a limited number of third-party plugins and add-ons available for the platform, and there are limited educational resources for platform-specific features.
Advantages | Disadvantages |
Allows for potentially larger profits with smaller account balances | Can increase the risk of large losses for inexperienced traders |
Provides flexibility in trading strategies | May lead to overleveraging and margin calls |
Enables traders to take larger positions in the market | Can amplify market volatility and increase the likelihood of slippage |
Can be useful for hedging or risk management purposes |
OctaFX offers a maximum leverage of 1:30, which can provide traders with the opportunity to potentially increase profits with smaller account balances and take larger positions in the market. However, it is important to note that high leverage can also significantly increase the risk of large losses, especially for inexperienced traders who may be more susceptible to overleveraging and margin calls. It is crucial for traders to use leverage wisely and implement proper risk management strategies to mitigate these risks. Additionally, not all trading instruments or account types may offer the maximum leverage, so traders should be aware of the limitations and requirements for each instrument and account type.
Advantages | Disadvantages |
Various payment methods available | Limited payment options |
Detailed information on deposit and withdrawal | No local payment options |
No extra fees charged | Long processing times for some payment methods |
Quick and efficient processing times | High minimum deposit amount of €50 |
Secure payment options | No cryptocurrency payment options |
OctaFX provides a wide range of payment methods, making it convenient for traders to deposit and withdraw funds. They also provide detailed information on the deposit and withdrawal process, which makes it easy for traders to understand the process. Another advantage is that there are no extra fees charged by OctaFX for any payment method. Additionally, the processing times are quick and efficient. However, the payment options are limited, with no local payment options available. Some payment methods may also have long processing times. The minimum deposit amount of €50 is also relatively high compared to some other brokers. Finally, OctaFX doesn't accept cryptocurrency payments, which might be a disadvantage for some traders.
Advantages | Disadvantages |
Basic calculators | Limited educational resources |
Easy to use | No webinars or tutorials available |
Helpful for beginners | No market analysis or trading ideas provided |
OctaFX has a limited selection of educational resources available for its customers, with only basic calculators provided to help with trading. While these tools may be helpful for beginners, the lack of other educational resources such as webinars, tutorials, market analysis, and trading ideas may make it challenging for more experienced traders to improve their skills and stay up-to-date with market trends. The absence of educational articles or eBooks may also be a disadvantage for traders looking to expand their knowledge and gain a deeper understanding of the market. Overall, OctaFX's educational resources are limited and may not be suitable for traders seeking a more comprehensive learning experience.
However, if you're not limited to their website, you can see more educational resources on their official YouTube channel. Here is a video of a market analysis.
Advantages | Disadvantages |
Multiple ways to contact customer support including email and live chat | No 24/7 customer support |
Back office service available during regular business hours | No phone support |
Physical correspondence address provided for customer inquiries | Limited availability on weekends |
OctaFX provides a range of customer care options for its clients, including email support and live chat. They also offer a back office service during regular business hours for additional assistance. A physical correspondence address is also provided for clients to send inquiries. However, OctaFX does not offer 24/7 customer support and phone support is not available. Additionally, their customer support availability is limited on weekends.
In conclusion, OctaFX is a reputable forex broker that provides traders with access to a wide range of trading instruments, including currency pairs, metals, energies, and indices. The company offers a user-friendly MetaTrader 5 platform, low spreads, and no commissions, which makes it an attractive choice for traders. OctaFX also provides a detailed deposit and withdrawal process with a range of feasible payment methods. However, the company's educational resources are limited, and the maximum leverage offered is relatively low compared to some other brokers. Overall, OctaFX is a reliable option for traders who value a simple and straightforward trading experience, with efficient customer support available via email and live chat.
What is OctaFX?
OctaFX is a forex broker that offers online trading services to customers around the world. It is a Cyprus registered company regulated by the CYSEC.
What trading platforms does OctaFX offer?
OctaFX offers the popular MetaTrader 5 trading platform, which is available for desktop and mobile devices.
What instruments can I trade with OctaFX?
OctaFX offers a range of trading instruments, including 28 currency pairs, 2 metals, 2 energies, and 10 indices.
Does OctaFX charge any commissions?
No, OctaFX does not charge any commissions on trades.
What is the minimum deposit required to open an account with OctaFX?
The minimum deposit required to open an account with OctaFX is 100 euro.
What payment methods are available for deposits and withdrawals?
OctaFX accepts a variety of payment methods, including VISA, Skrill, Swissquote Bank SA, Rietumu Bank, and BlueOrange Bank.
What customer support options are available at OctaFX?
OctaFX offers customer support via email at clientsupport@octafx.eu, live chat, and a back office service available from 9:00 to 18:00 EET Monday to Friday.
FXCM Review Summary in 10 Points | |
Founded | 1999 |
Headquarters | London, UK |
Regulation | FCA, ASIC, CYSEC, FSCA |
Market Instruments | currency pairs, precious metals, commodities, global stock indices, treasury bonds |
Demo Account | Available |
Leverage | 1:30-1:400 |
EUR/USD Spread | 1.3 pips |
Trading Platforms | Trading Station, TradingView Pro, MetaTrader 4, ZuluTrade, Capitalise AI |
Minimum deposit | $50 |
Customer Support | 24/5 phone, email, and live chat |
Promotions | Yes |
FXCM is a retail forex broker that was founded in 1999. The company is headquartered in London, UK, but has offices and affiliates in a number of other countries, including Australia, Germany, France, Italy, Greece, Hong Kong, Japan, South Africa, and the United States.
The company provides online trading services in forex, contracts for difference (CFDs), and other financial instruments. FXCM offers various trading platforms including the popular MetaTrader 4 (MT4), Trading Station, TradingView Pro, ZuluTrade, Capitalise AI. The broker provides customer support in multiple languages and offers educational resources and market analysis tools to help traders make informed trading decisions.
FXCM is a retail forex and CFD broker that operates as a No Dealing Desk (NDD) broker. This means that FXCM does not take the opposite side of clients' trades and instead uses Straight Through Processing (STP) to send client orders to liquidity providers in the interbank market. This model is designed to provide traders with faster execution and more transparent pricing. FXCM also offers commission-based pricing, as opposed to spreads, which may appeal to traders who prefer a more transparent fee structure.
FXCM is a well-established and reputable forex broker with over two decades of experience in the industry. Its strengths include its comprehensive educational resources, a wide range of trading instruments and platforms, and a global presence. FXCM also offers competitive pricing and flexible account options, making it accessible to traders of all levels.
However, FXCM's weaknesses include limited deposit and withdrawal options, high fees for certain services, and the potential for slippage during periods of high volatility. Some traders have also reported issues with customer support, particularly in non-English speaking regions.
Pros | Cons |
• Regulated by FCA and ASIC | • US clients are unaccepted |
• Commission-free trading available on Standard accounts | • Limited product offerings beyond forex and CFDs |
• Multiple trading platforms to choose from, including MetaTrader 4 and Trading Station | • Limited educational resources compared to some other brokers |
• Competitive spreads on forex pairs | • Limited research and analysis tools |
• No deposit or withdrawal fees | • Limited customer support availability on weekends |
• Low minimum deposit requirement | • Limited payment options |
It's worth noting that the pros and cons listed above are not exhaustive and may not necessarily apply to every trader's individual experience with FXCM.
Overall, FXCM can be a good choice for traders who prioritize education and a diverse range of trading options, but it may not be the best fit for those who require a specific deposit or withdrawal method, or who prioritize low fees above all else.
FXCM is a legitimate broker with a long-standing reputation in the industry. The company is regulated by top-tier financial authorities, such as the FCA in the UK, the ASIC in Australia, CYSEC in Cyprus and FSCA in South Africa, which ensures that it operates under strict financial and ethical guidelines. FXCM also has a solid track record of handling client funds in a secure and responsible manner.
However, like any broker, there are potential risks involved in trading, such as market volatility and the possibility of losses. It's important to carefully evaluate the risks and benefits before deciding to trade with any broker.
FXCM provides negative balance protection and offers its clients access to segregated accounts, providing additional security measures. More details can be found in the table below:
Protection Measure | Detail |
Regulation | FCA, ASIC |
Segregated Funds | Yes |
Investor Protection | Up to £85,000 |
Negative Balance | Yes |
Financial Audit | Yes |
Insurance | No |
Note: The table only includes a few of the many safety measures that FXCM employs to protect its clients.
FXCM is a well-regulated and reputable broker with a long-standing history in the industry. The company is regulated by top-tier financial authorities and has multiple licenses, demonstrating a commitment to client protection.
However, FXCM has faced regulatory penalties in the past and the company's reputation was negatively impacted. Overall, while FXCM has had some past issues, the broker has taken steps to address them and appears to be a reliable choice for traders.
FXCM offers investors a diverse range of tradable instruments, including currency pairs, precious metals, commodities, global stock indices, treasury bonds, as well as a forex basket, a stock basket, CNH, and other popular products.
There are two types of accounts: Regular Accounts and Premier Accounts. Regular accounts have a minimum deposit of $50 and allow investors to trade up to 39 popular currency pairs and the entire CFD range.
The Premier Account is designed for high-volume investors and requires, firstly, an FXCM account or a new account, a total USD notional trading volume of $10 million per natural month. The account offers investors a range of benefits: exclusive support, premium services, and tailor-made trading solutions.
FXCM offers different leverage levels based on the jurisdiction of the client and the type of trading account. In general, FXCM offers leverage up to 1:400 for forex trading, and up to 1:200 for CFD trading on certain instruments. It's important to note that high leverage increases the potential for both profits and losses, so traders should use it with caution and have a good risk management strategy in place.
It's also worth noting that different regulatory bodies have different restrictions on leverage. For example, in the United States, the maximum leverage for forex trading is limited to 1:50, while in Europe, it's limited to 1:30 for retail clients. Traders should always check the specific leverage restrictions for their jurisdiction and account type before trading.
The spreads are 1.3 pips for EUR/USD, 2.3 pips for EUR/GBP, and 1.8 pips for AUD/USD. The Premier account offers investors a cashback offers. If a client trades EUR/USD pair and reaches $300 million in notional volume for the month (for the fifth step), then the cashback amount is $25/million, for a total cashback amount of $7,500. The cashback for equity index CFD products ranges from $1 to $3 per million USD.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
FXCM | 1.3 pips | $25/1M traded |
IG | 0.6 pips | No |
Oanda | 0.9 pips | No |
Pepperstone | 0.0 pips | AUD $3.5 / side / 100k traded |
XM | 0.6 pips | No |
Plus500 | 0.6 pips | No |
Note: Spreads can vary depending on market conditions and volatility.
FXCM provides rebates through three channels: Rebate Program, Friends and Family, Accounts Promotions. Account promotions, particularly, gives traders most benefits. To benefit from these promotions, traders simply need to open an account and register for the promotion by filling out the designated form. Upon account activation, making a deposit within 24 hours qualifies traders for the highest bonus of 5%, while those depositing within one month of activation can enjoy a 2-3% bonus. The bonus amount is then credited to the trader's account within 14 business days of the deposit, enabling them to boost their trading capital right from the start.
FXCM offers a comprehensive platform suite designed ffor various trading needs:
Trading Station: Proprietary advanced platform
TradingView Pro: Powerful charting and analysis
MetaTrader 4: Industry-standard user-friendly platform
ZuluTrade: Social trading, copy successful strategies
Capitalise AI: AI-powered automated trading and portfolio management
Overall, FXCM's trading platforms offer a range of advanced features and tools that can appeal to traders of all levels and styles.
Broker | Trading Platform |
FXCM | Trading Station, TradingView Pro, MetaTrader 4, ZuluTrade, Capitalise AI |
IG | IG Trading, MetaTrader4 |
Oanda | Oanda Trade, MetaTrader4, Oanda Web Trading |
Pepperstone | MetaTrader4, MetaTrader5, cTrader, Pepperstone Webtrader |
XM | MetaTrader4, MetaTrader5 |
Plus500 | Plus500 WebTrader, Plus500 Windows Trader |
FXCM welcomes several payment methods, including online banking payments, bank transfers, and other payments. The minimum single deposit for CUP is $100, and the minimum deposit for a credit card or wire transfer is $50. Besides, traders can withdraw funds once a month for free.
The minimum deposit requirement for FXCM varies depending on the account type and the region of the client. For example, in the UK and some other regions, the minimum deposit for a Standard account is £300 or equivalent in another currency, while for the Mini account, it is £50 or equivalent.
However, in some other regions, such as the US, the minimum deposit for a Standard account is $5,000, while for the Mini account, it is $50. It is important to check the minimum deposit requirement for the specific account type and region before opening an account with FXCM.
FXCM | Most other | |
Minimum Deposit | $50 | $100 |
To withdraw funds from your FXCM account, you need to follow these steps:
Step 1: Log in to your FXCM account on the FXCM website.
Step 2: Click on the “MyFXCM” menu and select “Withdraw.”
Step 3: Select the account you wish to withdraw from and choose your withdrawal method.
Step 4: Enter the amount you wish to withdraw and provide any additional information that may be required for your chosen withdrawal method.
Step 5: Review and confirm your withdrawal request.
Step 6: Once your withdrawal request has been processed, you will receive an email confirmation with details of the transaction.
It's important to note that the time it takes for your funds to be withdrawn will depend on the withdrawal method you choose and the processing times of your bank or payment provider.
Apart from spreads and commissions, FXCM also charges overnight fees. Overnight fees, also known as swap fees, are charged for positions that are held overnight.
FXCM does not charge any deposit fees, but there are withdrawal fees depending on the withdrawal method used. For example, bank wire withdrawals are subject to a $40 fee, while credit card withdrawals are subject to a 1.8% fee.
Inactivity fees may also be charged if an account is inactive for a certain period. For example, FXCM charges an inactivity fee of $50 per year if there are no trades or open positions for 12 months.
It is important to review the fee schedule on FXCM's website before opening an account to ensure a full understanding of the fees associated with trading.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
FXCM | Free for most methods | Free for most methods | $50/year |
IG | Free | Free | $18/month |
Oanda | Free | Free | $10/month |
Pepperstone | Free | Free for Australian bank transfer, $20 for international wire transfer | $0 |
XM | Free | Free | $5/month after 90 days of inactivity |
Plus500 | Free | $10 | $10/quarter |
Please note that these fees may be subject to change and may vary depending on your location and account type. It's always a good idea to check with the broker directly for the most up-to-date information.
FXCM offers customer support via phone, email, and live chat 24/5 during market hours. They also have a FAQ section on their website to provide answers to common questions. FXCM provides localized support in various languages and countries, and they have a team dedicated to handling account-related inquiries.
In addition, they offer remote assistance through TeamViewer to assist clients with any technical issues they may encounter. Overall, FXCM is known for their responsive and helpful customer support.
Pros | Cons |
• 24/5 customer support through phone and chat | • No 24/7 customer support |
• Multilingual support | • No local office in some countries |
• Comprehensive FAQ section on the website | • No dedicated account manager |
• Personalized support for VIP clients | • Some clients report slow response times for inquiries |
Note: The above information is based on general feedback from clients and may not be applicable to every individual experience.
FXCM offers a range of educational resources to help traders improve their knowledge and skills. Some of the educational resources available on the FXCM website include:
Webinars: Live and recorded webinars covering a variety of trading topics, including market analysis, technical analysis, and trading strategies.
Video library: A collection of videos covering various trading topics, including trading psychology, chart patterns, and trading platforms.
Trading guides: In-depth guides on various trading topics, including Forex trading, stock trading, and trading psychology.
Forex news: Daily updates on market news and analysis from FXCM's team of experts.
Trading signals: Trading signals based on technical analysis and market trends.
In conclusion, FXCM is a well-established and reputable broker that offers a range of trading instruments and account types with competitive spreads and commissions. The broker's trading platforms are user-friendly and offer advanced features for traders of all levels. Additionally, FXCM provides educational resources and excellent customer support, including 24/5 support in multiple languages.
However, FXCM does have some drawbacks, including the lack of negative balance protection and the high inactivity fee. The broker is also not available in all countries, which may limit accessibility for some traders. Overall, FXCM is a reliable and trustworthy broker that can meet the needs of both beginner and experienced traders.
Q 1: | Is FXCM regulated? |
A 1: | Yes. It is regulated by FCA and ASIC. |
Q 2: | Does FXCM offer demo accounts? |
A 2: | Yes. |
Q 3: | Does FXCM offer industry-standard MT4 & MT5? |
A 3: | Yes. It offers MT4 and Trading Station. |
Q 4: | What is the minimum deposit for FXCM? |
A 4: | The minimum initial deposit to open an account is $50. |
Q 5: | Is FXCM a good broker for beginners? |
A 5: | Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
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 fxcm are, we first considered common fees for standard accounts. On octafx, the average spread for the EUR/USD currency pair is from 0.3 pips, while on fxcm the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
octafx is regulated by CYSEC. fxcm is regulated by ASIC,FCA,CYSEC,FSCA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
octafx provides trading platform including MT5 account and trading variety including 28 Currency pairs + 2 metals + 2 energies + 10 indices. fxcm provides trading platform including -- and trading variety including --.