Octa vs Eightcap
If you are reading this article, you’re likely having trouble deciding whether Eightcap or Octa is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.
In this Eightcap vs Octa review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
|Octa (visit site)
|Eightcap (visit site)
|St. Vincent and the Grenadines
|ASIC, SCB, FCA, CySEC
Type of Broker:
U.S. Clients Allowed:
Commissions / Spreads:
Features and Platforms
Eightcap, based in Australia, maintains the core MT4/MT5 trading platforms, upgraded via the Amazing Trader plugin and the active TradingView community, and recently expanded its trading environment with Capitalise AI. It allows traders to automate trading with natural language input that requires no coding skills. Other notable features are quality in-house research, education, and excellent trade execution. Octa provides traders with MT4/MT5 plus the Autochartist plugin and cTrader as an alternative. It also developed its proprietary copy trading platform.
|Type of Platform:
|MetaTrader 4, MetaTrader 5, cTrader
|MetaTrader 4, MetaTrader 5
Guaranteed Stop Loss:
Guaranteed Limit Orders:
Interest on Margin:
Eightcap features 40+ currency pairs versus 32 at Octa. The asset selection extends with four commodities and eleven index CFDs at Eightcap compared to five and ten at Octa. Eightcap maintains 900+ equity CFDs and 250+ cryptocurrencies, while Octa has zero and five, respectively. Overall, Eightcap grants traders a balanced selection with 1,200+ assets. Octa maintains one of the smallest ranges of trading instrument choices in the industry.
Typical Spreads and Fees
Eightcap deploys an expensive commission-free pricing environment with a minimum mark-up of 1.0 pips or $10 per 1.0 standard lot. Octa counters with 0.6 pips or $6 per lot. The commission-based alternative at Eightcap shows raw spreads of 0.0 pips for a cost of $7 per lot. Octa lists an expensive commission-based option with spreads from 0.8 pips for a commission between $4.00 and $6.00. The Status Level reward program decreases costs further. Eightcap levies swap rates on leveraged overnight positions, while Octa applies a mix of fees labeled differently. Third-party payment processor fees apply equally.
Security and Trust
The Australian Securities & Investments Commission (ASIC) is the primary regulator at Eightcap. Additional oversight exists from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Securities Commission of The Bahamas (SCB). Eightcap also has a subsidiary in St. Vincent and the Grenadines. Octa is regulated in Cyprus by CySEC, and operates a branch from St. Vincent and the Grenadines, where the financial regulator, the Financial Services Authority (FSA), does not regulate Forex brokers. Both brokers segregate client deposits and offer negative balance protection.
Octa vs Eightcap – Verdict
Eightcap continues to improve its trading environment, geared primarily towards equity traders. Only the out-of-the-box MT4/MT5 trading platforms are available, upgraded via the Amazing Trader plugin and the active TradingView community. Adding Capitalise AI delivered a competitive edge only a few brokers provide. Eightcap publishes in-house research and maintains quality educational content. The trade execution remains competitive and trading costs acceptable, but a volume-based rebated program is missing. Octa presents more trading platform choices with cTrader and a proprietary mobile app. It also has the Autochartist plugin, but traders must qualify for it via trading activity. The asset selection at Octa is narrow, ranking among the smallest industry-wide, but the commission-free cost structure is competitive. Octa remains a rare broker where the commission-based alternative remains notably more expensive. Copy traders may benefit from the in-house platform at Octa, but Eightcap is the superior choice for most traders.
You might also be interested in reviewing the below broker comparisons:
Which trading platform is better: Eightcap or Octa?
Both brokers offer the core MT4/MT5 trading platforms, but Octa also has cTrader and offers select clients the Autochartist plug-in. Eightcap added Capitalise AI, available to all clients, giving it an overall competitive edge.
How many Forex pairs and CFDs are available to trade?
Eightcap lists 29 currency pairs and more than 150 CFDs against 32 and 20 at Octa, respectively.
Which is the more reliable broker?
Eightcap operates under the oversight of two regulators compared to unregulated Octa. While Octa makes claims on its website, there is no proof. The category “Why clients choose us” lists made-up trading costs to make its pricing appear attractive. Therefore, Eightcap is the more reliable broker.
Which broker is better for beginner traders?
Eightcap offers new traders higher quality educational content, making it the better choice.