Octa vs eToro

Octa offers the Autochartist plugin for the MT4/MT5 trading platforms, deploys its proprietary web-based alternative, Octa Mobile App, and the Octa Copytrading App, which Octa streamlined for its in-house developed copy trading service. Octa, home to 21M+ trading accounts, 60 industry awards, and $31M+ in paid-out bonus funds, grew into a leading Forex broker with highly liquid trading instruments ideal for scalpers and algorithmic traders.

eToro is a leading copy trading broker with 30M+ traders, 3,000+ assets, and a user-friendly web-based eToro platform and mobile app. At the core of eToro is CopyTraders, its primary copy trading tool, and Smart Portfolios, its custom-tailored investment product featuring thematic long-term buy-and-hold investment managed in-house by eToro.

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

Headquarters
ComorosIsrael
Regulators
CySEC, FSCA, MWALI International Services AuthorityASIC, CySEC, FCA, FSA
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established
20112007
Execution Type(s)
Market MakerMarket Maker
Minimum Deposit
$25$50 - $10,000
Negative Balance Protection
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Proprietary platformProprietary platform
Average Trading Cost EUR/USD
0.9 pips1.0 pips
Average Trading Cost GBP/USD
1.3 pips2.2 pips
Average Trading Cost WTI Crude Oil
$0.07 $0.05
Average Trading Cost Gold
$0.30 $0.45
Retail Loss Rate
67.65%74%
Minimum Raw Spreads
Not applicable0.8 pips
Minimum Standard Spreads
0.6 pips1.3 pips
Minimum Commission for Forex
Commission-free$0.00
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
Get StartedGet Started

Features & Platforms

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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Noteworthy:

Octa delivers lucrative giveaways to high-volume traders via its multi-tier status program. eToro offers its in-house developed cryptocurrency wallet, a mobile e-money account, and eToro Academy.

Available Markets

Currency Pairs
Cryptocurrencies
Commodities
Crude Oil
Gold
Metals
Equity Indices
Stocks
Stocks (non-CFDs)
Bonds
ETFs
Options
Futures
Synthetics
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Octa focuses on liquid assets, including 30+ cryptocurrency CFDs, making it ideal for scalpers and traders requiring fewer but liquid assets. eToro provides a superior choice of trading instruments. Its 3,000+ assets focus on equity CFDs and ETFs. At the same time, other sectors receive adequate introduction with an above-average Forex selection, best for cross-asset diversification.

Typical Spreads & Fees

Average Trading Cost EUR/USD
0.9 pips1.0 pips
Average Trading Cost GBP/USD
1.3 pips2.2 pips
Average Trading Cost WTI Crude Oil
$0.07 $0.05
Average Trading Cost Gold
$0.30 $0.45
Average Trading Cost Bitcoin
$11 $574
Minimum Raw Spreads
Not applicable0.8 pips
Minimum Standard Spreads
0.6 pips1.3 pips
Minimum Commission for Forex
Commission-free$0.00
Deposit Fee
Withdrawal Fee
Inactivity Fee
No$10 monthly after 12 monthd
Get StartedGet Started

Octa and eToro offer commission-free trading costs, where the former commences with spreads from 0.6 pips or $6.00 per lot versus the latter at 1.0 pips or $10.00. Octa lowers trading fees for high-volume traders, expanding its cost advantage over eToro. Many assets at Octa remain swap-free, making a notable difference to final trading costs.

Account Types

Account Types
Octa
eToro
Commission-free Accounts
Yes
Yes
Commission-based Accounts
No
No
Demo Accounts
Yes
Yes
Islamic Accounts
Yes
Yes
Social / Copy Trading
Yes
Yes
Managed Accounts
No
Yes

Traders at Octa can choose between an MT4 and MT5 trading account type, which dictates how many assets traders have. eToro provides everyone with an identical account, but the minimum deposit depends on the geographic location of traders. Both brokers offer unlimited demo accounts, but eToro has in-house managed thematic portfolios. Swap-free Islamic accounts are available at Octa and eToro, but the former extends it to all traders.

Minimum Deposit

Deposit Snapshot
Octa
eToro
Minimum Deposit
$25
$200
Deposit Fees
Third-Party
Third-Party
E-wallets
Yes
Yes
Cryptocurrencies
Yes
No
Localized Methods
No
Yes
Total Deposit Methods
5
14
Supported Deposit Currencies
USD, EUR
USD, EUR, GBP, AUD, 10+

The Octa minimum deposit is $25 for non-EU traders and $50 for EU-based traders. Traders can opt for USD or EUR accounts, and Octa accepts cryptocurrency deposits. The eToro minimum deposit is $200 for most but is as low as $10 for US and UK-resident traders and as high as $10,000 for Israeli-resident traders, while EU-based clients can start with $50.

Minimum Withdrawal

Withdrawal Snapshot
Octa
eToro
Minimum Withdrawal
$5
$30
Internal Withdrawal Fees
No
$5 for each payment processor
Internal Processing Times
30 minutes to three hours
Up to two business days

The minimum withdrawal amount at Octa is lower than at eToro, and the former does not levy internal withdrawal fees. The latter charges a flat fee of $5 on each transaction and payment processor. Internal processing times at Octa are swift. eToro has a slower process, where traders must wait up to two business days for eToro to authorize a withdrawal. Both brokers honour all valid withdrawal requests.

Security & Trust

Country of the Regulator
Cyprus, Comoros, South AfricaAustralia, Cyprus, Seychelles, United Kingdom
Name of the Regulator
CySEC, FSCA, MWALI International Services AuthorityASIC, CySEC, FCA, FSA
Regulatory License Number
372/18, 51913, HY00623410491139, 109/10, 583263, SD076
Get StartedGet Started

Octa and eToro are well-established, secure, and trusted brokers. Both provide retail traders with negative balance protection and segregate all client deposits from corporate funds. eToro, founded in 2007, has more operational experience than Octa, founded in 2011.

Octa versus eToro Verdict

Octa

Pros
Cons
Low minimum deposit and high leverage up to 1:500
Limited overall asset selection
Swap-free trading for all traders, based on assets
Competitive selection of cryptocurrencies and fast withdrawal times
Large trading community and proprietary copy trading service

eToro

Pros
Cons
Copy-trading with a community exceeding 30 million traders
Absence of MT4 and no algorithmic trading
User-friendly web-based trading platform and mobile app
Quality educational offering for beginner traders via the eToro Academy
Balanced asset selection with a focus on equity CFDs and ETFs

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Octa supports algorithmic trading, notably absent at eToro, and is best for scalpers and other demanding strategy traders. eToro presents the better overall choice, particularly for beginners, amid its quality educational offering, in-house management investment portfolios, and copy trading community. eToro also offers physical cryptocurrency purchases and staking, but geographic restrictions apply.

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FAQs

Is eToro good or bad?

eToro is best suited for copy traders who are okay with above-average costs and cryptocurrency traders, where eToro deploys numerous custom-tailored solutions or passive investment strategies.

Which country banned Octa?

India placed Octa on its "Alert list," and Pakistan banned Octa in 2022.

Is Octa a good broker?

Octa ranks among the best brokers for scalpers and algorithmic traders due to its low, commission-free trading costs, swap-free trading on many assets, and ultra-fast withdrawals.

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