Exness vs OctaFX Broker Comparison
If you are reading this article, you’re likely having trouble deciding whether Exness or OctaFX 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 Exness vs OctaFX review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- Exness vs OctaFX - Verdict
| Feature | Exness (visit site) | OctaFX (visit site) |
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| Headquarter: | Russia | United Kingdom |
Regulation : | FSA | FSA |
Type of Broker: | Market Maker | ECN/STP |
U.S. Clients Allowed: | ||
Minimum Deposit: | $1 | $50 |
Maximum Leverage: | 1:2000 | 1:500 |
Commissions / Spreads: | Both | Both |
Account 1: | Standard | Micro |
Account 2: | Raw Spread | Pro |
Account 3: | Zero | ECN |
Account 4: | Pro | |
Demo Account: | ||
Islamic Account: | ||
Segregated Account: | ||
Managed Accounts: | ||
Website Languages: |
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Support Hours: | 24/7 | 24/7 |
E-mail Support: | ||
SMS Support: | ||
Chat: | ||
Broker Offers: |
English
ChineseFeatures and Platforms
Traders at Exness may use the out-of-the-box MT4/MT5 trading platforms, but none of the necessary third-party plugins are available. Exness does offer VPS hosting in support of automated trading solutions but fails to provide clients with research or education for beginner traders. The only value-added service is the WebTV by Trading Central. OctaFX also offers MT4/MT5 but upgrades both with the Autochartist plugin. The cTrader trading platform is also available together with its proprietary copy trading platform. Traders can also benefit from the bonus structure at OctaFX together with reduced swap rates.
| Feature | Exness | OctaFX |
| Type of Platform: | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5, cTrader |
Platform Languages: |
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OS Compatibility: |
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Trading Signals: | ||
Charting Package: | ||
Market Analysis: | ||
Chart Trading: | ||
Automated Trading: | ||
Scalping: | ||
Hedging: | ||
Mobile Alerts: | ||
Trailing Stops: | ||
Guaranteed Stop Loss: | ||
Guaranteed Limit Orders: | ||
Guaranteed Execution: | ||
One-click Execution: | ||
Interest on Margin: | ||
Web-based Trading: | ||
Mobile Trading: |
Windows
iPhoneAvailable Markets
Forex traders have access to one of the best asset selections at Exness, which maintains 107 currency pairs. Unfortunately, the rest of the trading instruments remain below average. Exness features seven cryptocurrency pairs, twelve commodities, and 81 equity and index CFDs. Despite the overall limited choice of trading instruments at Exness, it trumps OctaFX. Traders have only 32 currency pairs, ranking among the worst selections industry-wide, five cryptocurrencies, five commodities, and ten index CFDs. Where Exness provides Forex traders with an edge, OctaFX fails to serve any trader well and has one of the worst overall asset choices.
| Feature | Exness | OctaFX |
ETFs: | ||
CFDs: | ||
Commodities: | ||
Metals: | ||
Stocks: | ||
Oil: | ||
Gold: | ||
Binary Options: | ||
Indices: |
Typical Spreads and Fees
The Standard account at Exness shows a minimum mark-up of 1.0 pips or $10 per 1.0 lots, which is expensive. Costs improve to a commission-free spread of 0.6 pips or $6, but Exness asks for a deposit of $3,000. OctaFX presents the same 0.6 pips mark-up, but it is available for all traders. Both brokers offer a commission-based alternative, which is more expensive than the commission-based one, but the OctaFX Status Level reward program lowers overall trading costs. Traders will also pay swap rates on leveraged overnight positions, but OctaFX labels them differently, clouding cost transparency.
Security and Trust
Traders at Exness will deal either with its Nymstar or Vlerizo subsidiaries. They remain regulated by the Seychelles FSA and the South African FSCA, respectively. Exness maintains two units, one licensed by the UK FCA and one by the CySEC, but both shut their retail divisions, focusing solely on business-to-business operations. OctaFX caters to traders from St. Vincent and the Grenadines but is an unregulated Forex broker, as the FSA does not regulate brokers. OctaFX does not take additional steps to ensure client safety. Both brokers offer negative balance protection and segregate client deposits from corporate funds.
Exness vs. OctaFX: Verdict
Exness has undergone drastic changes since launching in 2008, and it continues to react to counter-productive regulatory changes by Tier1 regulators. The most visible evidence is the closure of the Exness retail operations in the UK and Cyprus. Exness converted into an execution-only Forex broker, with no research and educational content. It shines with 107 currency pairs and supports automated trading with VPS hosting, but the cost structure is expensive for portfolios below $3,000. OctaFX, founded in 2011, presents four trading platforms and a competitive pricing environment. Regrettably, asset selection ranks among the worst compared to all brokers. It provides traders with the MT4/MT5 Autochartist plugin, but traders must qualify for it via trading activity. Both brokers offer a more expensive commission-based cost structure than the commission-free one, a rare occurrence. Exness shines with its Forex selection, OctaFX with its proprietary copy-trading platform and bonus structure.
OctaFX lists withdrawal times for most online payment processors between one hour and three hours plus five minutes for the fund transfer. Exness offers instant withdrawals to qualifying traders and supporting online payment processors, which takes a few seconds without manual approval by the finance department. Bank wires and credit card withdrawals may take up to ten business days at Exness.
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FAQs
How long do Exness and OctaFX withdrawals take?
OctaFX lists withdrawal times for most online payment processors between one hour and three hours plus five minutes for the fund transfer. Exness offers instant withdrawals to qualifying traders and supporting online payment processors, which takes a few seconds without manual approval by the finance department. Bank wires and credit card withdrawals may take up to ten business days at Exness.
Are Exness and OctaFX brokers good for beginners?
Both brokers offer quality trading tools, research, education, and proprietary copy trading services, making them a good choice for beginners.
Do Exness or OctaFX use Bitcoin?
Exness and OctaFX both offer Bitcoin for trading as a leveraged CFD contract and allow Bitcoin for deposits and withdrawals.
Are OctaFX and Exness in the USA?
Neither OctaFX nor Exness accepts US persons as clients.
Is it legal to trade with OctaFX or Exness?
Legality depends upon local law. In the vast majority of countries, there will be no legal issues with opening an account with either broker, if the broker is willing to accept the application.
Are OctaFX or Exness halal?
Yes, OctaFX and Exness both offer swap-free trading accounts. It is the default option at OctaFX and available upon request at Exness.