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OctaFX vs FXPrimus 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between OctaFX and FXPrimus? 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, OctaFX ranks more highly than FXPrimus.

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 RatingOctaFXFXPrimusXTB
Overall Rating6.8 / 106.8 / 108.7 / 10
Account TypeOctaFXFXPrimusXTB
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesYesYes
Copy TradingOctaFXFXPrimusXTB
Social Trading / Copy TradingYesYesYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyOctaFXFXPrimusXTB
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)OctaFXFXPrimusXTB
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)OctaFXFXPrimusXTB
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsOctaFXFXPrimusXTB
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoNo
Social Trading / Copy TradingYesYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsNoNoYes
ETFNoNoNo
U.S. Stocks (CFD)YesNoYes
Trading PlatformsOctaFXFXPrimusXTB
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesYesNo
Regulatory LicensesOctaFXFXPrimusXTB
Tier-1 Licenses001
ASIC Authorised (Australia)NoNoNo
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)NoNoYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoNo
Tier-2 Licenses113
Tier-3 Licenses011
Research, EducationOctaFXFXPrimusXTB
Trading Central (Recognia)NoNoNo
Forex News (Top-Tier Sources)YesNoYes
Daily Market CommentaryYesYesYes
AutochartistYesNoNo
Investor Dictionary (Glossary)YesNoNo
Videos - Beginner Trading VideosYesNoYes
Client Webinars (Archived)YesYesYes
Trading CostsOctaFXFXPrimusXTB
Minimum Initial Deposit$25$100$0
Average Spread EUR/USD - Standard0.6 (August 2021)N/A1.07 (Q3 2022)
All-in Cost EUR/USD - ActiveN/AN/A1.04 (Q3 2022)
Active Trader or VIP DiscountsNoNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)NoNoYes
Trading ToolsOctaFXFXPrimusXTB
Watchlists - Total Fields778
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)303039
Mobile Charting - Indicators / Studies303039
Trust FactorsOctaFXFXPrimusXTB
Year Founded201120092002
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionYesYesYes
Trust Score676995
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OctaFX vs FXPrimus 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 OctaFX vs FXPrimus.

Can I trust OctaFX?

OctaFX has a trust score of 67, giving it a "High 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 FXPrimus?

FXPrimus has a trust score of 69, giving it a "High Risk" trust label.

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.

Is FXPrimus a good broker?

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. unfortunately, neither OctaFX nor FXPrimus are 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), FCA Authorised (U.K.) and CFTC Registered (USA)., neither have 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 OctaFX and FXPrimus 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 OctaFX is none, while FXPrimus is VFSC Authorised (Vanuatu)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands) and FSC Authorised (Mauritius).

Which broker offers more trading platforms?

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

Does OctaFX offer MetaTrader? Does FXPrimus offer MetaTrader?

Both OctaFX and FXPrimus 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 OctaFX and FXPrimus differ in terms of minimum deposit? What about average spreads and funding options?

OctaFX requires a minimum deposit of $25, while FXPrimus requires a minimum deposit of $100. From our testing we found OctaFX offers spreads of 0.6 (August 2021), while FXPrimus offers spreads of N/A. Both OctaFX and FXPrimus 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, OctaFX or FXPrimus?

OctaFX offers a more diverse selection of investment options than FXPrimus allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD)., neither have Spread Betting, Agriculturals and ETF Looking at total tradeable symbols, OctaFX has 80, compared to 140 from FXPrimus.

Can I trade cryptocurrency with OctaFX or FXPrimus?

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 OctaFX nor FXPrimus allow you to trade physical cryptocurrencies.

Who offers more research tools, OctaFX or FXPrimus?

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

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