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Trade Nation vs OctaFX 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Trade Nation 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, Trade Nation 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 RatingTrade NationOctaFXFOREX.com
Overall Rating7.1 / 106.8 / 108.7 / 10
Account TypeTrade NationOctaFXFOREX.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 TradingTrade NationOctaFXFOREX.com
Social Trading / Copy TradingNoYesNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyTrade NationOctaFXFOREX.com
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)NoYesYes
BitcoinNoYesYes
ethereumNoYesYes
Forex Trading (Spot or CFDs)Trade NationOctaFXFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)Trade NationOctaFXFOREX.com
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsTrade NationOctaFXFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingYesNoNo
Social Trading / Copy TradingNoYesNo
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsNoNoYes
ETFNoNoYes
U.S. Stocks (CFD)NoYesYes
Trading PlatformsTrade NationOctaFXFOREX.com
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)NoYesYes
Regulatory LicensesTrade NationOctaFXFOREX.com
Tier-1 Licenses204
ASIC Authorised (Australia)YesNoNo
IIROC Authorised (Canada)NoNoYes
FCA Authorised (U.K.)YesNoYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoYes
Tier-2 Licenses112
Tier-3 Licenses101
Research, EducationTrade NationOctaFXFOREX.com
Trading Central (Recognia)NoNoYes
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryNoYesYes
AutochartistNoYesNo
Investor Dictionary (Glossary)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)NoYesNo
Trading CostsTrade NationOctaFXFOREX.com
Minimum Initial Deposit$0$25$100
Average Spread EUR/USD - Standard0.60.6 (August 2021)1.0 (July 2022)
All-in Cost EUR/USD - Active0.6N/A1.0 (July 2022)
Active Trader or VIP DiscountsNoNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)NoNoYes
Trading ToolsTrade NationOctaFXFOREX.com
Watchlists - Total Fields12720
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)3530203
Mobile Charting - Indicators / Studies953088
Trust FactorsTrade NationOctaFXFOREX.com
Year Founded201420111999
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionNoYesYes
Trust Score836799
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Trade Nation 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 Trade Nation vs OctaFX.

Can I trust Trade Nation?

Trade Nation has a trust score of 83, giving it a "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 Trade Nation a good broker?

Trade Nation offers an innovative platform suite that is optimized for ease-of-use, and great for beginners. That being said, the lack of advanced trading features may leave experienced traders wanting more.

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. Trade Nation is ASIC Authorised (Australia) and FCA Authorised (U.K.), while OctaFX is none., neither have 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, Trade Nation is FSCA Authorised (South Africa), while OctaFX is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses Trade Nation is SCB Authorised (Bahamas), while OctaFX is none., neither have IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

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

Does Trade Nation offer MetaTrader? Does OctaFX offer MetaTrader?

For MetaTrader Trade Nation provides MetaTrader 4 (MT4), 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 Trade Nation and OctaFX differ in terms of minimum deposit? What about average spreads and funding options?

Trade Nation requires a minimum deposit of $0, while OctaFX requires a minimum deposit of $25. From our testing we found Trade Nation offers spreads of 0.6, while OctaFX offers spreads of 0.6 (August 2021). Both Trade Nation 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, Trade Nation or OctaFX?

Trade Nation offers a more diverse selection of investment options than OctaFX allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Metals and Energies., neither have Agriculturals and ETF Looking at total tradeable symbols, Trade Nation has 601, compared to 80 from OctaFX.

Can I trade cryptocurrency with Trade Nation 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 Trade Nation nor OctaFX allow you to trade physical cryptocurrencies.

Who offers more research tools, Trade Nation or OctaFX?

In terms of research and research tools Trade Nation gives traders the following tools: 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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