Compare OANDA Vs Octa: Which is the Better Forex Broker in 2024?
OANDA Vs Octa, which one is better? Both brokers are often compared to each other to find which one comes out to be the better one. What many traders may not comprehend is that the best choice may differ for every one of them, and there's nothing wrong with it. To make it easier for you to decide which one is the best between OANDA Vs Octa, here is the direct comparison:
Feature | OANDA | Octa |
General Rating |
3.11/5 |
3.23/5 |
|
Score | 77 | 78 | |
Trustpilot |
3.6/5 544 users |
4.5/5 7133 users |
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💼 Regulation | |||
❗Info | |||
⌛ Established | 1996 | 2011 | |
💲 Min Deposit | $0 | $25 | |
⚖ Max Leverage | 1:20 | 1:500 | |
🔢 Spread | Fixed | Variable | |
💸 Commissions | -$50/Mil commission for Core pricing | ||
💡 Min Position | 0.00001 lot | 0.01 lot |
💳 Payment | Visa, Mastercard, ACH deposits, Bank transfer, Credit/debit cards, Wire transfer, Skrill and Neteller | Crypto, Credit/debit cards, Neteller, Skrill, FasaPay, Bank transfer and Internal transfers | |
🏢 Office(s) |
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🧩 Demo Account | |||
📁 Segregated Account | |||
🕋 Islamic Account | |||
👨💻 PAMM Account | |||
📈 Managed Account | |||
LAMM Account | |||
MAM Account |
💱 Hedging | |||
🇺🇸 US traders | |||
📫 Requires sending documents via postal mail | |||
🕛 Swaps | |||
☎️ Trading by telephone |
🏆 Trading contests | |||
⚡ Automated trading | |||
💰 Bonus offers | |||
📖 Free education | |||
👔 Affiliate program |
1️⃣ One-click trading | |||
⏱ Trailing stop | |||
⏳ Pending orders |
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🗣 Website Languages | English | Bengali/Bangla, Chinese, English, German, Hindi, Indonesian, Malay, Portuguese, Spanish, Thai |
🚪 Trade Now | Open OANDA | Open Octa |
Testimonials
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OANDA: Les risk
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OANDA: OANDA is the best broker I've ever know.
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OANDA: My EA doesn't work very well after some time. So...
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OANDA: My friend recommend me to trade with OANDA. But it...
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OANDA: I realize half on these commentaries are only half reliable....
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OANDA: Les risk
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OANDA: OANDA is the best broker I've ever know.
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OANDA: My EA doesn't work very well after some time. So...
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OANDA: My friend recommend me to trade with OANDA. But it...
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OANDA: I realize half on these commentaries are only half reliable....
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Octa: Smooth sailing
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Octa: Amazing experience overall
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Octa: I am frustated!!!!
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Octa: No complaint!
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Octa: Bad customer review
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OANDA: Les risk
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See More OANDA Testimonials
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See More Octa Testimonials
News
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Octa Forex Broker's Ramadan Offers Bonus, Lower Spreads & Prizes!
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Unlock Prosperity: Join Octa's Lunar New Year Celebration for Indonesian Clients!
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Octa Claims Most Reliable Broker in Asia at Global Forex Awards 2023
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OctaFX Rebrands to Octa with Global Campaign
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Use a Special Code to Get OctaFX 100 Percent Deposit Bonus
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Barcelona Striker Robert Lewandowski Becomes OANDA Brand Ambassador
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OANDA Acquired Crypto Exchange Coinpass
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Join OctaFX Indonesia Livestream to Celebrate Financial Freedom Day
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OctaFX Celebrates 12 Years with Satisfying Achievements
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OctaFX Concluded Vespa Giveaway, Winners Announced
Articles
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Octa Recap in 2023: A Performance Review
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Join OctaFX Demo Contest, Win $1000 in Total
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Guide to Choose the Best OANDA Platform
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Standard Account Comparison: IC Markets or OANDA?
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Unlock Special Benefits and Rewards Using OctaFX Status Program
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Increase Your Funds with OctaFX 50% Deposit Bonus
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OctaFX Trade and Win: Get Prize Lots to Claim Your Trading Rewards
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Forex Brokers in 2022: How OctaFX Performed
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Forex Brokers in 2022: How OANDA Performed
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OctaFX Deposit and Withdrawal: All You Need to Know
Contests
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- Comparison List
Which one has the better spread?
Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data.
However, traders can still choose their ideal brokers by the type of their spreads. The most two popular types of spread are fixed and variable. The pros and cons between the two spreads can vary for every trader. In this case, OANDA provides their pricing with Fixed spread while Octa offers Variable spread.
OANDA vs Octa: Who hosts the best trading platform?
The trading platform is essential as you can't execute a trade without it. Additionally, trading platforms provide price charts and an assortment of analytical tools to help traders with their strategies.
To support their clients, OANDA enables trading with FxTrade App, MetaTrader 5, Oanda Platform, MetaTrader 4. The offer is supported with . In comparison, Octa provides trading with MetaTrader 4, MetaTrader 5, Web, Social trading with the support of One-click trading, Trailing stop, Pending orders.
Is OANDA or Octa better in providing the trading instruments?
It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios.
In this case, OANDA supports trading with Forex, Gold & silver, CFD, Crypto, Stock, Indices, Commodities, etf, while Octa presents the ability of trading with Forex, Gold & silver, Indexes, Energies, Crypto, Oil.
In conclusion, deciding the better broker eventually comes down to your consideration. If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one. For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments.
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