Broker comparison between Worldclass Financial Intelligence vs OCTAFX
Do you want to figure out which is the better broker, worldclass or octafx?
In the following table, you can compare the features of worldclass and octafx 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 worldclass or octafx 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 worldclass and octafx are both reliable. We analyze the reasons as following:
Forex broker introduction
General Information & Regulation
Worldclass Financial Intelligence is an offshore broker registered in Saint Vincent and the Grenadines that doesnt hold any license to provide financial services. What is worse, the broker might be a clone firm, and such entities are typically part of a scam.
Tradable financial instruments available on the Worldclass Financial Intelligence include forex, commodities, indexes, stocks.
The minimum deposit is stated to be $50, but once we made an account, it turned out that it is actually $100 – not that it matters when most of its competition can open an account for about $10, but still.
The leverage Worldclass Financial Intelligence offers, however, is not okay – 1:1000 is too much for retail traders, as a majority of the regulatory bodies out there have ruled.
Spreads & Commissions
The spreads on the platform are okay – a bit over the generally accepted 1 pip for major FX pairs like EURUSD.
Trading Platform Available
Worldclass Financial Intelligence provides access to industry-leading trading platform Metatrader 4 – the platform has earned that distinction with its comprehensive UI and powerful automated trading features.
Worldclass Financial Intelligence accepts deposits via local bank, wire tranfer, credit Card, as well as Bitcoin. Bitcoin is not eligible for a chargeback at all. As for withdrawals, Worldclass Financial Intelligence never specifies what kind of fees it charges on them – but considering how shady the broker is already, we fully expect them to be quite difficult and expensive.
The Worldclass Financial Intelligence customer support can be reached through telephone: +1 784 485 4216, email: firstname.lastname@example.org.
Business Hour: Monday – Friday : Open, Saturday & Sunday: Closed.
Address: First Floor, First St. Vincent Bank Ltd Building, P. O Box 1574, James Street, Kingstown, St. Vincent & the Grenadines.
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.
Does worldclass or octafx 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 worldclass and octafx are, we first considered common fees for standard accounts. On worldclass, the average spread for the EUR/USD currency pair is -- pips, while on octafx the spread is --.
Which broker is safer, worldclass or octafx?
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. worldclass is regulated by CYSEC. octafx is regulated by --.
Which broker provides better trading platform, worldclass or octafx?
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. worldclass Available trading platforms include --, tradable financial instruments include -- octafx works/provides -- trading platform, trading instruments --