BlackBull Markets vs Octa 2024

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

BlackBull Markets has a Trust Score of 78, giving it a "Average Risk" Trust Score Label.

Octa has a Trust Score of 72, giving it a "Average Risk" Trust Score Label.

BlackBull Markets is an up-and-coming broker that offers the full MetaTrader suite (both MetaTrader 4 and MetaTrader 5), a proprietary Social Copy Trading platform, as well as integration with the popular TradingView platform. Traders at BlackBull Markets gain access to share trading, CFDs, and a growing range of markets from its brands regulated in New Zealand and the Seychelles. BlackBull Markets' educational content has grown in recent years, but still trails behind what's offered by the best forex brokers in that category.

Founded in 2011, OctaFX delivers access to both MetaTrader 4 and MetaTrader 5 alongside its own OctaTrader platform for web and its proprietary OctaFX Copytrading app for social copy trading. OctaFX has decent pricing, but its range of markets is narrow, and the broker is only regulated in one Tier-1 jurisdiction (which brings down its Trust Score rating).

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. BlackBull Markets holds regulatory licenses in the following Tier-1 jurisdictions: New Zealand (FMA Authorised). Octa, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: none. Neither have Australia (ASIC Authorised), Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), Switzerland (FINMA Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized)

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, BlackBull Markets is none, while Octa is Cyprus (CySEC Authorised) and South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses BlackBull Markets is none, while Octa is Mauritius (FSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised) and Vanuatu (VFSC Authorised).

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that BlackBull Markets offers a Desktop Platform (Windows), cTrader and ZuluTrade, whereas Octa supports a Proprietary Platform and Desktop Platform (Windows). Neither have DupliTrade

Both BlackBull Markets and Octa offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

BlackBull Markets requires a minimum deposit of $0, while Octa requires a minimum deposit of $25. You'll also want to make sure that your broker accepts the funding options and deposit methods that work best for you. In our testing, we've found that both BlackBull Markets and Octa offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits. Neither have PayPal (Deposit/Withdraw)

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that BlackBull Markets delivers a more diverse selection of investment options than Octa, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; BlackBull Markets offers 26000, and Octa offers a total of 257 tradeable symbols.

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither BlackBull Markets nor Octa allow you to trade physical cryptocurrencies.

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. BlackBull Markets delivers the following research tools: Autochartist, Daily Market Commentary, Stock Charts and Social Trading / Copy Trading. Octa, on the other hand, provides the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. Neither have Trading Central (Recognia)

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