Compare Saxo Bank Vs Octa: Which is the Better Forex Broker in 2024?
Saxo Bank 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 Saxo Bank Vs Octa, here is the direct comparison:
Compare | Saxo Bank | Octa |
General Rating |
1.00/5 |
3.23/5 |
Score | ||
Trustpilot |
3.7/5 5545 users |
4.4/5 7074 users |
πΌ Regulation | ||
β Info | ||
β Established | 1992 | 2011 |
π² Min Deposit | $2000 | $25 |
β Max Leverage | 1:200 | 1:500 |
π’ Spread | Fixed | Variable |
πΈ Commissions | ||
π‘ Min Position | 0.05 lot | 0.01 lot |
π³ Payment | Wire transfer and Credit/debit cards | Crypto, Credit/debit cards, Neteller, Skrill, FasaPay, Bank transfer and Internal transfers |
π’ Office(s) |
𧩠Demo Account | ||
π Segregated Account | ||
π Islamic Account | ||
π¨βπ» PAMM Account | ||
π Managed Account |
π± Hedging | ||
πΊπΈ US traders | ||
π Swaps |
π Trading contests | ||
β‘ Automated trading | ||
π° Bonus offers | ||
π Free education |
1οΈβ£ One-click trading | ||
β± Trailing stop | ||
β³ Pending orders |
Forex | ||
CFD | ||
Indexes | ||
Spread Betting | ||
Gold & Silver | ||
Crypto | ||
Stocks | ||
Oil | ||
Metals | ||
Energies | ||
Futures | ||
ETF | ||
Options | ||
Agriculture | ||
Commodities | ||
Stock | ||
Indices | ||
Etf | ||
Bonds | ||
Binary Options | ||
ETFs | ||
Corporate Stocks | ||
Shares | ||
Silver | ||
Index | ||
Stocks 1:5 | ||
Physical Stock |
π£ Website Languages | Arabic, Czech, Danish, German, Greek, English, Finnish, French, Hungarian, Italian, Hebrew, Dutch, Norwegian, Polish, Romanian, Russian, Slovenian, Chinese | Bengali/Bangla, Chinese, English, German, Hindi, Indonesian, Malay, Portuguese, Spanish, Thai |
πͺ Trade Now | Open Saxo Bank | Open Octa |
Compare Again
Testimonials
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Saxo Bank: Customer service simply does not exist. Forget them. They have...
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Saxo Bank: started the online application process but midway through i checked...
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Saxo Bank: They seriously need to learn how to communicate to new...
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Saxo Bank: After 2 years of being there as a trader and...
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Saxo Bank: Saxo says no withdrawal fee, but actually withdrawal has a...
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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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See More Saxo Bank Testimonials
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See More Octa Testimonials
News
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Saxo Bank Wins Prime of Prime Award at FX Markets Asia Awards 2024
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Octa Forex Broker's Ramadan Offers Bonus, Lower Spreads & Prizes!
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Charlie White-Thomson Steps Down as UK CEO of Saxo Bank Forex Broker
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Saxo Bank Sees 23% Drop in FX Volume for January
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Unlock Prosperity: Join Octa's Lunar New Year Celebration for Indonesian Clients!
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Saxo Bank Implements Fee Reductions, Slashing Costs for Clients
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Saxo Bank Forex Broker Concludes 2023 with Impressive Trading Volumes
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Saxo Bank Forex Broker Unveils Saxo Options Talk Podcast
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Octa Claims Most Reliable Broker in Asia at Global Forex Awards 2023
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See More Related Saxo Bank News
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See More Related Octa News
Article
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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 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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OctaFX Deposit and Withdrawal: All You Need to Know
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OctaFX Trading App Review for Beginners
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Trading Crypto on OctaFX for Beginners
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See More Related Saxo Bank Article
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See More Related Octa Article
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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, Saxo Bank provides their pricing with Fixed spread while Octa offers Variable spread.
Saxo Bank 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, Saxo Bank enables trading with SaxoTraderPRO (Limited with 20 days), SaxoWebTrader (Limited with 20 days), SaxoTraderGO (Limited with 20 days). 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 Saxo Bank 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, Saxo Bank supports trading with Forex, Gold & silver, CFD, Spread betting, 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 Saxo Bank and Octa:
- Compare Saxo Bank vs Orbex
- Compare Saxo Bank vs Pepperstone
- Compare Saxo Bank vs FBS
- Compare Octa vs FXTM
- Compare Octa vs JustMarkets
- Compare Octa vs Admirals
For more comparisons, visit this page.