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Exness vs OctaFX 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Exness and OctaFX? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, Exness ranks more highly than OctaFX.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingExnessOctaFXXTB
Overall Rating7.2 / 106.8 / 108.7 / 10
Account TypeExnessOctaFXXTB
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesYesYes
Copy TradingExnessOctaFXXTB
Social Trading / Copy TradingNoYesYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyExnessOctaFXXTB
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)NoYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)ExnessOctaFXXTB
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)ExnessOctaFXXTB
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsExnessOctaFXXTB
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoNo
Social Trading / Copy TradingNoYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsNoNoYes
ETFNoNoNo
U.S. Stocks (CFD)YesYesYes
Trading PlatformsExnessOctaFXXTB
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformNoYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesYesNo
Regulatory LicensesExnessOctaFXXTB
Tier-1 Licenses101
ASIC Authorised (Australia)NoNoNo
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)YesNoYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoNo
Tier-2 Licenses113
Tier-3 Licenses001
Research, EducationExnessOctaFXXTB
Trading Central (Recognia)YesNoNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryNoYesYes
AutochartistNoYesNo
Investor Dictionary (Glossary)NoYesNo
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesYes
Trading CostsExnessOctaFXXTB
Minimum Initial Deposit$1$25$0
Average Spread EUR/USD - Standard0.9 (as of May 19)0.6 (August 2021)1.07 (Q3 2022)
All-in Cost EUR/USD - Active-1N/A1.04 (Q3 2022)
Active Trader or VIP DiscountsNoNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)NoNoYes
Trading ToolsExnessOctaFXXTB
Watchlists - Total Fields(default Metatrader)78
Mobile WatchlistNoYesYes
Charting - Indicators / Studies (Total)(default Metatrader)3039
Mobile Charting - Indicators / Studies(default Metatrader)3039
Trust FactorsExnessOctaFXXTB
Year Founded200820112002
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionYesYesYes
Trust Score746795
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Exness vs OctaFX Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Exness vs OctaFX.

Can I trust Exness?

Exness has a trust score of 74, giving it a "Average Risk" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust OctaFX?

OctaFX has a trust score of 67, giving it a "High Risk" trust label.

Is Exness a good broker?

Exness is a MetaTrader broker that offers the full MT4 and MT5 platform suites, alongside its proprietary client portal Terminal and Exness Social Tradomg app. Exness offers competitive spreads on its commission-based and Pro accounts, yet trails behind the best brokers when it comes to research and education.

Is OctaFX a good broker?

OctaFX is a MetaTrader broker that boasts its own social copy trading platform, developed in-house. OctaFX has decent pricing, but a narrow range of markets to trade and fewer regulatory licenses than you'd find with the best brokers in the industry.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. Exness is FCA Authorised (U.K.), while OctaFX is none., neither have ASIC Authorised (Australia), IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, both Exness and OctaFX are CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither Exness nor OctaFX are SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu)., neither have VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms Exness supports a Desktop Platform (Windows), whereas OctaFX supports a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does Exness offer MetaTrader? Does OctaFX offer MetaTrader?

Both Exness and OctaFX 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.

How do Exness and OctaFX differ in terms of minimum deposit? What about average spreads and funding options?

Exness requires a minimum deposit of $1, while OctaFX requires a minimum deposit of $25. From our testing we found Exness offers spreads of 0.9 (as of May 19), while OctaFX offers spreads of 0.6 (August 2021). Both Exness and OctaFX offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits., neither have PayPal (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, Exness or OctaFX?

Exness offers a more diverse selection of investment options than OctaFX allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies and U.S. Stocks (CFD)., neither have Spread Betting, Agriculturals and ETF Looking at total tradeable symbols, Exness has 112, compared to 80 from OctaFX.

Can I trade cryptocurrency with Exness or OctaFX?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither Exness nor OctaFX allow you to trade physical cryptocurrencies.

Who offers more research tools, Exness or OctaFX?

In terms of research and research tools Exness gives traders the following tools: Forex News (Top-Tier Sources) and Trading Central (Recognia). In comparison OctaFX has the tools listed here: Autochartist, Daily Market Commentary, Forex News (Top-Tier Sources) and Social Trading / Copy Trading., neither have Stock Charts

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