Compare SimpleFX Vs Octa: Which is the Better Forex Broker in 2024?
SimpleFX 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 SimpleFX Vs Octa, here is the direct comparison:
Feature | SimpleFX | Octa |
General Rating |
1.00/5 |
3.23/5 |
|
Score | 38 | 78 | |
Trustpilot |
3.5/5 39 users |
4.5/5 7133 users |
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💼 Regulation | |||
❗Info | |||
⌛ Established | 2014 | 2011 | |
💲 Min Deposit | $1 | $25 | |
⚖ Max Leverage | 1:500 | 1:500 | |
🔢 Spread | Variable | Variable | |
💸 Commissions | |||
💡 Min Position | 0.01 lot | 0.01 lot |
💳 Payment | Skrill, Neteller, FasaPay, Crypto, Litecoin, Dash, Ethereum, Monero, Crypto Cash, Zcash, Ethereum Classic, Tether (USDT), Dogecoin, Tron, USD Coin (USDC), Dai (DAI), EOS.IO, Binance Coin and Ripple | 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 | Arabic, English, Spanish, French, Hindi, Indonesian, Italian, Japanese, Korean, Malay, Dutch, Portuguese, Romanian, Russian, Thai, Turkish, Vietnamese, Chinese | Bengali/Bangla, Chinese, English, German, Hindi, Indonesian, Malay, Portuguese, Spanish, Thai |
🚪 Trade Now | Open SimpleFX | Open Octa |
Testimonials
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SimpleFX: Competitive spreads, most efficient cryptocurrency payments. The mobile app is...
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SimpleFX: Platform makes everything easy. They offer the lowest transfer fees available....
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SimpleFX: I like this trading platform, there is no minimum deposit...
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SimpleFX: Great for beginners. Still learning so much about Forex and...
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SimpleFX: Nice intuitive app. No delays and low latency. Spreads from...
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SimpleFX: Competitive spreads, most efficient cryptocurrency payments. The mobile app is...
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SimpleFX: Platform makes everything easy. They offer the lowest transfer fees available....
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SimpleFX: I like this trading platform, there is no minimum deposit...
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SimpleFX: Great for beginners. Still learning so much about Forex and...
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SimpleFX: Nice intuitive app. No delays and low latency. Spreads from...
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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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SimpleFX: Competitive spreads, most efficient cryptocurrency payments. The mobile app is...
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See More SimpleFX Testimonials
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See More Octa Testimonials
News
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Malaysia Gets Early Access to Revamped Octa's Trading Platform
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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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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
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World Business Outlook Gives Two Awards to OctaFX
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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Unlock Special Benefits and Rewards Using Octa 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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Octa Deposit and Withdrawal: All You Need to Know
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Octa Trading App Review for Beginners
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Trading Crypto on OctaFX for Beginners
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How to Open CFD Account on Octa
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, SimpleFX provides their pricing with Variable spread while Octa offers Variable spread.
SimpleFX 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, SimpleFX enables trading with MetaTrader 4, Mobile Trading Platform, WebTrader. The offer is supported with One-click trading, Trailing stop, Pending orders. 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 SimpleFX 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, SimpleFX supports trading with Forex, Gold & silver, CFD, Oil, Energies, Crypto, 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.
Looking for more references? Here are other comparisons related to SimpleFX and Octa:
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For more comparisons, visit this page.