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Broker comparison between OCTAFX vs TD Ameritrade
Do you want to figure out which is the better broker, octafx or td-ameritrade?
In the following table, you can compare the features of octafx and td-ameritrade 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 td-ameritrade 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 td-ameritrade 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.
td-ameritrade
General Information & Regulation
TD Ameritrade Hong Kong Ltd. is registered with the Securities and Futures Commission (CE number BJO462) to carry out the regulated activities of dealing in securities and dealing in futures contracts and does not provide tax, legal or investment advice or recommendations. TD Ameritrade in Hong Kong enables retail investors to trade the U.S. markets by providing access to cutting edge trading technology, discount commission rates, free education, and outstanding customer service. TD Ameritrade, Inc., member FINRA/SIPC, and a subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank.
Latest News
On 28 February 2022, TD Ameritrade Hong Kong will close and will no longer maintain accounts.
Market Instruments
TD Ameritrade clients can trade a wide variety of assets on the web platform as well as the mobile apps. This includes exchanged-traded funds (ETFs), stocks, options, futures, and cryptocurrency.
Account Types
TD Ameritrade offers two brokerage account: Individual, and Joint Account. The individual account include the Margin account and Cash account. The minimum initial deposit to open a margin account is 2000USD, while the Cash account requires no minimum deposit.
Commissions
Stocks & ETFs
Trade unlimited shares for $0.00 per trade. Note: $0 commission applies to U.S. exchange-listed stocks and ETFs. A USD$6.95 commission applies to online trades of over-the-counter (OTC) stocks.
Options
USD$0.65 per contract, with no ticket charge, exercise or assignment fees. Option fees are waived when you buy to close any short individual or single leg option for USD$0.05 or less.
Futures & Futures Options
USD$2.25 per contract (plus exchange & regulatory fees).
Exchange and Regulatory Fees
Exchange fees vary by exchange and by product. Please visit the appropriate exchange for a list of the associated fees. Please note, the National Futures Association (NFA) also charges a fee of USD$0.01 per contract.
Margin Rates
TD Ameritrade offers margin accounts to help provide clients with leverage.
Trading Platform Available
TD Ameritrade offers traders thinkorswim trading platform, available in Desktop, Web and Mobile devices.
Funding Options
TD Ameritrade allows clients to fund their account with FPS transfers, a cheque deposit, telegraphic transfer (international wire), or through an account transfer from another broker (ACAT). All deposits must be made in U.S dollars.
Customer Service
TD Ameritrade offers an average customer support, and they can be contacted through email: help@tdameritrade.com.hk, as well as some social media platform including Facebook, Instagram, and Youtube.
Does octafx or td-ameritrade 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 td-ameritrade are, we first considered common fees for standard accounts. On octafx, the average spread for the EUR/USD currency pair is -- pips, while on td-ameritrade the spread is --.
Which broker is safer, octafx or td-ameritrade?
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. td-ameritrade is regulated by SFC.
Which broker provides better trading platform, octafx or td-ameritrade?
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 -- td-ameritrade works/provides -- trading platform, trading instruments --
