Broker comparison between OCTAFX vs Roboforex
Do you want to figure out which is the better broker, octafx or roboforex?
In the following table, you can compare the features of octafx and roboforex side by side to determine the best fit for your trading needs.
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 roboforex 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 roboforex are both reliable. We analyze the reasons as following:
Forex broker introduction
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.
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.
General Information & Regulation
RoboForex was founded in 2009, then became a member of the FSCL, launched a negative balance guarantee service, later added CFD instruments, introduced gold and CNY trading accounts. In 2016, RoboForex started creating a proprietary investment platform with a professional analysis center RAMM, released stock trading, reached a total number of 9,400 tradable instruments, and offered maximum leverage of 1:1200. In 2019 the forex broker's tradable instruments reached 11,700, with global updates for the Android and iOS versions of R webTradery and R MobileTrader, and won more than 20 awards in the financial industry.
RoboForex offers investors access to tradable instruments, including Forex (over 40 currency pairs), metals (silver and gold) stocks, indices, commodities, crypto-virtual currencies, crypto-virtual currency indices.
To meet different investors' investment needs and experience, RoboForex has set up five different trading accounts: Pro-Standard (minimum deposit of $10/€), Pro-Cent (minimum deposit of $10/€), ECN (minimum deposit of $10/€), Premium (minimum deposit of $10/€) and R Trader (minimum deposit of $100/€).
The maximum leverage is 1:2000 for Pro-Standard and Pro-Cent accounts, 1:500 for ECN accounts, and 1:300 for Premium and R Trader accounts.
Spreads & Commissions
The minimum spread for Pro-Cent accounts starts from 1.3 pips, and 1.5% of the company's revenue is rebated. For Pro-Standard accounts, the spread starts from 1.3 pips, and up to 15% of the company's revenue is rebated. For ECN accounts, the minimum spread starts from 0.0 pips, and up to 15% of the company's revenue is rebated. The minimum spread for Premium accounts starts from 0.0 pips, and 5% commission is rebated. In R Trader account, a fee of $0.0045 per share (minimum $0.25) is charged for trading US stocks ($10,000 deposit), and $0.02 per share (minimum $1.50 ) for CFDs on US stocks, 0.07% (minimum €/£2.80 fee) for CFDs on EU stocks, 0.30% (minimum $0.01 ) for cryptocurrency trading, $15 fee per million base currency for forex trading, and indices products featuring floating fee (minimum $1).
Roboforex offers traders a wide range of high-performance trading software, mainly MT4, MT5, cTrader, R Trader, RoboForex terminal. cTrader is suitable for experienced traders and has 54 technical indicators, 14 timetables, secondary pricing, and rare orders. Moreover, it enables traders to access all financial markets worldwide through a WEB terminal using a familiar web browser.
Deposit & Withdrawal
The main deposit and withdrawal methods supported by Roboforex are Bank Transfer SEPA (supporting EUR, no commission for deposits, 1.5% fee for withdrawals), China UnionPay (supporting CNY, no commission for deposits, 1.5% fee for withdrawals), Skrill (supporting EUR & USD, no commission for deposits, 1% fee for withdrawals), NETELLER (supporting EUR & USD, no deposit fee, 1.5% withdrawal fee), AdvCash (no deposit fee, 1% withdrawal fee), Perfect Money (supporting EUR & USD, no deposit fee, 0.5% withdrawal fee), AstroPay (supporting EUR, USD, AUD, RMB, no deposit fee, 0.5% withdrawal fee) (0.5% fee for withdrawals), VISA/MasterCard/JCB (USD, EUR, CHF, GBP, no deposit fee, 2.6% + 1.3USD/1 EUR fee for withdrawals).
Traders who require assistance can access the support team via the green chat button which is available on each section of the website. Support is available 24/7 and clients may on top write an e-mail, use the webform, call directly or request a callback.
Does octafx or roboforex 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 roboforex are, we first considered common fees for standard accounts. On octafx, the average spread for the EUR/USD currency pair is Floating from 1.3 pips pips, while on roboforex the spread is --.
Which broker is safer, octafx or roboforex?
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,NBRB,FSC. roboforex is regulated by CYSEC.
Which broker provides better trading platform, octafx or roboforex?
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 Pro、Prime、ECN、ProCent、R StocksTrader, tradable financial instruments include -- roboforex works/provides Pro、Prime、ECN、ProCent、R StocksTrader trading platform, trading instruments --