FBS versus OctaFX

FBS, founded in 2009, and OctaFX, operational since 2011, established themselves as leading choices for social traders. Both developed proprietary copy trading services and offer the MT4/MT5 trading platforms with their integrated services. The FBS trading community counts 23+ million traders, and OctaFX is home to 10+ million trading accounts.

The minimum deposit at FBS of $1 and OctaFX of $25 ensures that both are accessible to all traders, as they accept traders from 150+ countries. While the maximum leverage of 1:3000 is higher at FBS, most traders will use 1:500, available at FBS and OctaFX alike. Their similarities extend with generous bonuses and quality education for beginner traders.

We have conducted an in-depth review of FBS and OctaFX to determine which one presents the better overall choice and which traders will benefit the most at either broker.

Features and Platforms

Features & PlatformsOctaFX (visit site)FBS (visit site)
Headquarter:St. Vincent and the GrenadinesBelize
Established :
20112009
Retail Loss Rate:
Undisclosed75.20%
Regulation:
Minimum Deposit:
$25$1
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
NoNo
Deposit Fee:
Yes + Third-Party
Withdrawal Fee
Third-PartyYes + Third-Party
Funding Methods:
66
MT4:
MT5:
cTrader:
Proprietary Platform:
Automated Trading:
Social / Copy Trading:
MT4/MT5 Add-ons:
Guaranteed Stop Loss:
Negative Balance Protection:
Bonuses and Promotions:
Unique Feature One:
Low trading costs Large trading community
Unique Feature Two:
Autochartist pluginCent accounts for beginners
Broker Offers:

Noteworthy:

Besides their copy trading services, FBS and OctaFX developed proprietary mobile trading apps. They target their core market, millennial and GenZ traders, where social trading remains a popular, high-growth trading approach.

Available Markets

Available MarketsOctaFXFBS
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Indices:
Equities:
Bonds:
ETFs:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
1:5001:3000
Maximum Pro Leverage:
1:5001:3000

Forex traders get 37 currency pairs at FBS and 32 at OctaFX, making both suitable for trading strategies requiring fewer assets but liquid ones with lower spreads. Both brokers offer 30 cryptocurrency pairs, further strengthening their appeal for their core market. FBS additionally maintains large-cap equity CFDs, a sector notably missing at OctaFX.

Typical Spreads and Fees

Typical Spreads & FeesOctaFXFBS
Minimum Raw Spreads:
Not applicable-0.1 pips
Minimum Standard Spreads:
0.6 pips0.5 pips
Minimum Commission for Forex:
Commission-free$6.00 per round lot
Commission for Equities:
Not applicableCommission-free
Commission Rebates:
YesNo
Execution Type:
Market MakerMarket Maker/ECN Hybrid

The commission-free pricing environment at FBS starts from 0.5 pip or $5.00 per 1 standard lot and 0.6 pips or $6.00 at OctaFX. FBS offers a commission-based alternative, where average mark-ups create more expensive costs. OctaFX offers swap-free trading in its MT5 account, resulting in a pricing advantage for leveraged strategies.

Security and Trust

FBS

Country of the RegulatorName of the RegulatorLicense Number
Belize
International Financial Services Commission000102/198
Cyprus
Cyprus Securities and Exchange Commission331/17

OctaFX

Country of the RegulatorName of the RegulatorLicense Number
St. Vincent and the Grenadines
UnregulatedUnregulated

FBS and OctaFX offer negative balance protection and segregate client deposits from corporate funds. FBS enjoys a clean regulatory record, while OctaFX operates as an unregulated but duly registered company in St. Vincent and the Grenadines. Despite the lack of regulation, OctaFX earned a trustworthy reputation, equal to FBS, thanks to their well-established histories.

OctaFX vs FBS – Verdict

FBS

ProsCons
Low Forex trading costs from $5.00 per 1 standard lotLimited overall asset selection
Competitive choice of cryptocurrencies
Proprietary copy trading service and one of the largest trading communities
Minimum deposit of $1 with maximum leverage of 1:3000

OctaFX

ProsCons
Low minimum deposit and high leverage up to 1:500Limited overall asset selection
Swap-free trading in the OctaFX MT5 account
Competitive selection of cryptocurrencies
Large trading community and proprietary copy trading service

FBS and OctaFX execute a similar business model and cater to identical core markets, millennial and GenZ traders. Both have large trading communities, a proprietary copy trading service, an in-house developed mobile app, and a competitive choice of cryptocurrencies. With quality education, generous bonuses, and the MT4/MT5 trading platforms available at both, OctaFX pulls ahead due to lower costs with swap-free trading in its MT5 accounts and the Autochartist plugin.

Read full OctaFX Review
Read full FBS Review

FBS is home to 23+ million traders from 150+ countries and established itself as one of the most trusted brokers industry-wide with a clean regulatory record.

FAQs

Is FBS a good Forex broker?

FBS offers a highly competitive trading environment with low costs and quality education for beginners, placing it among the best brokers.

Can OctaFX be trusted?

OctaFX operates as an unregulated but duly registered broker from St. Vincent and the Grenadines. It established itself with its clients as a trustworthy broker, offering negative balance protection, segregation of client deposits, and best business practices equal to regulated competitors.

How trusted is FBS?

FBS is home to 23+ million traders from 150+ countries and established itself as one of the most trusted brokers industry-wide with a clean regulatory record.

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