Exness vs Octa Broker Comparison

If you are reading this article, you’re likely having trouble deciding whether Exness 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 Exness vs Octa review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:

Headquarters
CyprusSaint Vincent and the Grenadines
Regulators
CBSC, CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCACySEC
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established
20082011
Execution Type(s)
Market MakerMarket Maker
Minimum Deposit
$10$100
Negative Balance Protection
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Proprietary platformMetaTrader 4, MetaTrader 5, Proprietary platform
Average Trading Cost EUR/USD
0.6 pips0.9 pips
Average Trading Cost GBP/USD
0.7 pips1.3 pips
Average Trading Cost WTI Crude Oil
$0.03 $0.07
Average Trading Cost Gold
$0.13 $0.30
Retail Loss Rate
Undisclosed67.65%
Minimum Raw Spreads
0.0 pipsNot applicable
Minimum Standard Spreads
0.3 pips0.6 pips
Minimum Commission for Forex
$7.00 per 1.0 standard round lotCommission-free
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
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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. Octa 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 Octa together with reduced swap rates.

MT4
MT5
MT4/MT5 Add-Ons
cTrader
Proprietary Platform
Automated Trading
Social/Copy Trading
DOM?
Guaranteed Stop Loss
Scalping
Hedging
One-Click Trading
OCO Orders
Interest on Margin
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Available 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 Octa. 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, Octa fails to serve any trader well and has one of the worst overall asset choices.

Currency Pairs
Cryptocurrencies
Commodities
Crude Oil
Gold
Metals
Equity Indices
Stocks
N/A
Stocks (non-CFDs)
Bonds
ETFs
Options
N/A
Futures
Synthetics
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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. Octa 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 Octa Status Level reward program lowers overall trading costs. Traders will also pay swap rates on leveraged overnight positions, but Octa labels them differently, clouding cost transparency.

Average Trading Cost EUR/USD
0.6 pips0.9 pips
Average Trading Cost GBP/USD
0.7 pips1.3 pips
Average Trading Cost WTI Crude Oil
$0.03 $0.07
Average Trading Cost Gold
$0.13 $0.30
Average Trading Cost Bitcoin
$73 $11
Minimum Raw Spreads
0.0 pipsNot applicable
Minimum Standard Spreads
0.3 pips0.6 pips
Minimum Commission for Forex
$7.00 per 1.0 standard round lotCommission-free
Deposit Fee
Withdrawal Fee
Inactivity Fee
NoNo
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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. Octa caters to traders from St. Vincent and the Grenadines but is an unregulated Forex broker, as the FSA does not regulate brokers. Octa does not take additional steps to ensure client safety. Both brokers offer negative balance protection and segregate client deposits from corporate funds.

Country of the Regulator
Cyprus, Kenya, Mauritius, Seychelles, United Kingdom, British Virgin Islands, South Africa, CuraçaoCyprus, South Africa
Name of the Regulator
CBSC, CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCACySEC
Regulatory License Number
SD025, 0003LSI, SIBA/L/20/1133, 51024, GB20025294, 178/12, 730729, 162372/18, 51913
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Exness vs. Octa: 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. Octa, 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, Octa with its proprietary copy-trading platform and bonus structure.

Octa 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 Octa withdrawals take?

Octa 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 Octa 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 Octa use Bitcoin?

Exness and Octa both offer Bitcoin for trading as a leveraged CFD contract and allow Bitcoin for deposits and withdrawals.

Are Octa and Exness in the USA?

Neither Octa nor Exness accepts US persons as clients.

Is it legal to trade with Octa 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 Octa or Exness halal?

Yes, Octa and Exness both offer swap-free trading accounts. It is the default option at Octa and available upon request at Exness.

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