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In the fast-paced world of forex trading, choosing the right broker is crucial. Octa and Exness are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between Octa and Exness across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated Octa and Exness, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. The more top-tier authorities regulating a broker, the higher its trust rating.
In our comparison:
Based on these findings, Exness earned a higher trust rating than Octa.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that Octa has overall lower trading costs than Exness.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both Exness and Octa offer copy trading.
A broader range of CFD instruments provides more trading opportunities. Exness offers a greater variety of instruments compared to Octa:
For those interested in trading cryptocurrencies, Octa offers 34 cryptocurrencies, while Exness offers 34 cryptocurrencies. Therefore, Octa is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that neither Exness nor Octa charges a withdrawal fee. Overall, Octa has better deposit and withdrawal processes than Exness.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
Exness and Octa both have moderate educational support. Both Exness and Octa offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that Octa offers better research analysis than Exness and that both Exness and Octa offer frequent webinars.
Octa is an excellent broker with a couple of drawbacks. On the one hand, it has very low trading costs, charges no fees for deposits and withdrawals, and offers a great copy trading service — though this is not available on iOS mobile devices.
On the other hand, Octa onboards Indian traders through its Comoros Union-based entity, which has few regulatory protections. The range of instruments available to trade is also slightly limited compared to other brokers, with 52 Forex pairs, 5 commodities, 10 indices, 150 equities, and 34 cryptocurrencies.
If you can look past these issues, you will find an excellent low-cost broker: Octa offers three swap-free accounts with minimum deposits of 20 USD, a slick mobile app, and a good range of trading tools. It also heavily promotes its wide range of bonuses and can offer leverage of 1:1000 on Forex pairs. Finally, the website is fully translated into Hindi, and Hindi customer support is available 24/7.
Exness is a CFD broker with over 200,000 clients worldwide, offering trading on 100+ Forex pairs, a small range of cryptocurrencies, 70+ stock CFDs, indices, and commodities. Exness has nine account types on the MT4 and MT5 platforms - many more than most brokers. These range from a Standard Cent Account with no minimum deposit to a selection of Pro Accounts with tight spreads, market execution, and minimum deposits starting at 500 USD.
Deposits and withdrawals are free of charge, and customer service operates 24/7. While Exness’ trading costs are generally below the industry average, its education and market analysis are poor compared to other major brokers.
For more detailed reviews, please read our comprehensive assessments of Octa and Exness.
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Broker | Regulated by FCA | Licenced by | Min. Deposit | Cost of Trading | Broker Score | Official Site | Compare |
|---|---|---|---|---|---|---|---|
 | No | | USD 20 | USD 6 | |||
 | No | | USD 10 | USD 7 | |||
 | No |    | USD 5 | USD 6 | |||
 | No |     | USD 100 | USD 9 | |||
 | Yes |  | USD 0 | USD 10 | |||
 | No |  | USD 200 | USD 8 | |||
 | No | | AUD 100 | USD 6 | |||
 | Yes |  | USD 0 | USD 10 | |||
 | No | | USD 5 | USD 7 | |||
 | Yes |   | USD 0 | USD 10 |
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.
