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TD Ameritrade vs OctaFX 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between TD Ameritrade and OctaFX? Weโ€™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, TD Ameritrade 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 RatingTD AmeritradeOctaFXFOREX.com
Overall Rating8.9 / 106.8 / 108.7 / 10
Account TypeTD AmeritradeOctaFXFOREX.com
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountNoYesYes
Copy TradingTD AmeritradeOctaFXFOREX.com
Social Trading / Copy TradingNoYesNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyTD AmeritradeOctaFXFOREX.com
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)NoYesYes
BitcoinYesYesYes
ethereumNoYesYes
Forex Trading (Spot or CFDs)TD AmeritradeOctaFXFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)TD AmeritradeOctaFXFOREX.com
DAXNoYesYes
Dow JonesNoYesYes
FTSENoYesYes
NASDAQ 100NoYesYes
NikkeiNoYesYes
SP 500NoYesYes
InvestmentsTD AmeritradeOctaFXFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoNo
Social Trading / Copy TradingNoYesNo
MetalsNoYesYes
EnergiesNoYesYes
AgriculturalsNoNoYes
ETFNoNoYes
U.S. Stocks (CFD)NoYesYes
Trading PlatformsTD AmeritradeOctaFXFOREX.com
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)NoYesYes
MetaTrader 5 (MT5)NoYesYes
Regulatory LicensesTD AmeritradeOctaFXFOREX.com
Tier-1 Licenses404
ASIC Authorised (Australia)NoNoNo
IIROC Authorised (Canada)NoNoYes
FCA Authorised (U.K.)YesNoYes
SFC Authorised (Hong Kong)YesNoNo
MAS Authorised (Singapore)YesNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)YesNoYes
Tier-2 Licenses012
Tier-3 Licenses001
Research, EducationTD AmeritradeOctaFXFOREX.com
Trading Central (Recognia)NoNoYes
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesYesYes
AutochartistNoYesNo
Investor Dictionary (Glossary)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesNo
Trading CostsTD AmeritradeOctaFXFOREX.com
Minimum Initial Deposit$0$25$100
Average Spread EUR/USD - Standard1.25 pips (September 2022)0.6 (August 2021)1.0 (July 2022)
All-in Cost EUR/USD - Active1.25 pips (September 2022)N/A1.0 (July 2022)
Active Trader or VIP DiscountsNoNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)NoYesYes
PayPal (Deposit/Withdraw)NoNoYes
Trading ToolsTD AmeritradeOctaFXFOREX.com
Watchlists - Total Fields564720
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)36030203
Mobile Charting - Indicators / Studies3603088
Trust FactorsTD AmeritradeOctaFXFOREX.com
Year Founded195520111999
Publicly Traded (Listed)YesNoYes
BankYesNoNo
Authorised in European UnionYesYesYes
Trust Score996799
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TD Ameritrade 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 TD Ameritrade vs OctaFX.

Can I trust TD Ameritrade?

TD Ameritrade has a trust score of 99, giving it a "Highly Trusted" 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 โ€“ in most cases โ€“ 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 โ€œDo Not Trustโ€ rating.

Can I trust OctaFX?

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

Is TD Ameritrade a good broker?

TD Ameritrade, part of financial conglomerate Charles Schwab, is a leader in platform technology and trusted by millions of investors globally with trillions in assets under its brands. Available exclusively to U.S. residents, TD Ameritrade's forex offering consists of just over 70 currency pairs, along with powerful research, trading tools, and comprehensive educational resources for investing.

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. TD Ameritrade is SFC Authorised (Hong Kong), MAS Authorised (Singapore), FCA Authorised (U.K.) and CFTC Registered (USA), while OctaFX is none., neither have ASIC Authorised (Australia), IIROC Authorised (Canada), CBI Authorised (Ireland), FSA Authorised (Japan), FMA Authorised (New Zealand) and FINMA Authorised (Switzerland)

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, TD Ameritrade is none, while OctaFX is 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 TD Ameritrade 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?

Both TD Ameritrade and OctaFX offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does TD Ameritrade offer MetaTrader? Does OctaFX offer MetaTrader?

For MetaTrader TD Ameritrade provides neither of these, while OctaFX provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

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

TD Ameritrade requires a minimum deposit of $0, while OctaFX requires a minimum deposit of $25. From our testing we found TD Ameritrade offers spreads of 1.25 pips (September 2022), while OctaFX offers spreads of 0.6 (August 2021). TD Ameritrade supports Bank Wire (Deposit/Withdraw) for popular funding options, where OctaFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)., neither have PayPal (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, TD Ameritrade or OctaFX?

TD Ameritrade offers a more diverse selection of investment options than OctaFX allowing you to trade Forex Trading (Spot or CFDs)., neither have Spread Betting, Agriculturals and ETF Looking at total tradeable symbols, TD Ameritrade has 0, compared to 80 from OctaFX.

Can I trade cryptocurrency with TD Ameritrade 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 โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither TD Ameritrade nor OctaFX allow you to trade physical cryptocurrencies.

Who offers more research tools, TD Ameritrade or OctaFX?

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

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