Octa vs FXGT.com 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.

Octa has a Trust Score of 70, giving it a "Average Risk" Trust Score Label.

FXGT.com has a Trust Score of 69, giving it a "High Risk" Trust Score Label.

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).

FXGT.com offers multiple account types and plugins for MetaTrader (depending on the trading tool plan subscription plans you choose) but falls short compared to the best brokers for MT4 and MT5. Beyond rudimentary sentiment and market data, FXGT’s research is limited. Education at FXGT.com consists of a few ebooks and a scattering of content, and its YouTube Channel has been offline as of the time of our review in November 2023.

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. unfortunately, neither Octa nor FXGT.com are Australia (ASIC Authorised), Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized).. Neither have 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, both Octa and FXGT.com are 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 Octa is none, while FXGT.com is Vanuatu (VFSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised) and Mauritius (FSC 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 Octa offers a Proprietary Platform and Desktop Platform (Windows), whereas FXGT.com supports a Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Both Octa and FXGT.com 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.

Octa requires a minimum deposit of $25, while FXGT.com requires a minimum deposit of $5. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that Octa supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for funding and deposit methods, whereas FXGT.com supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit). Neither have PayPal (Deposit/Withdraw)

When choosing a broker, it’s important to check the availability of your preferred investment products and asset classes. We’ve tested each broker’s individual offering of investments to help you pick the right broker for what you want to trade. We found that both Octa and FXGT.com offer Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD). Neither have Spread Betting, Agriculturals and ETF.

We also keep track of each broker’s total number of tradeable symbols; Octa offers 277, and FXGT.com offers a total of 117 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 Octa nor FXGT.com 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. Octa delivers the following research tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. FXGT.com, on the other hand, provides the tools listed here: Stock Charts and Social Trading / Copy Trading. Neither have Trading Central (Recognia)

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