Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

Instaforex
0 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT INSTAFOREX
OctaFX
0 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT OCTAFX
AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
About

InstaForex are regulated by CySEC. They were founded in 2007 and are used by over 7,000,000 traders.

OctaFX is regulated by Financial Conduct Authority soon. OctaFX have provided Forex trading services since 2011.

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Why choose them?
  • Yes Over 11 years in business
  • Yes Used by 7,000,000 traders
  • Yes Offers swap-free accounts
  • Yes Over 7 years in business
  • Yes
  • Yes
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters Kaliningrad, Russia London, UK Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No Yes
Social Trading Yes No Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 107 59
Commodities Offered 2 16
Stocks Offered 88 99
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes No Yes
Penny stocks No No No
Energies No Yes Yes
Metals Yes Yes Yes
Agriculturals No No Yes
FTSE No Yes Yes
Dow Jones No Yes Yes
Dax No Yes Yes
Nikkei No Yes Yes
ETFs No No Yes
IPO No No Yes
See all instruments

50% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

Losses can exceed deposits

See all instruments

71% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 Yes Yes Yes
MT4 Mac No No Yes
WebTrader Yes Yes Yes
Mirror Trader Yes No Yes
ZuluTrade No No Yes
Sirix No No No
cTrader No Yes No
PAMM Yes No No
Custom Platforms No No AvaTradeAct, AVAOptions

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No No
Available Languages

Arabic, Chinese, English, Portuguese, Russian, Spanish, and Indonesian

English

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

See platform & features

50% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

Losses can exceed deposits

See platform & features

71% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Instaforex and OctaFX

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account Yes Yes Yes
Standard account Yes Yes Yes
ECN Account No No No
Islamic account Yes Yes Yes
Zero spread account Yes Yes No
VIP account No No Yes
Fixed spreads Yes No Yes
Variable spreads Yes Yes Yes
See account options

50% of retail investor accounts lose money when trading CFDs with this provider.

See account options

Losses can exceed deposits

See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes No No
Direct market access No No Yes
STP broker Yes Yes No
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.01 Lot 0.01 Lot
Max trade 1,000 Lot 10 Lot None
Min deposit $1 $5 $250

RISK MANAGEMENT

Stop losses No No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops No No Yes
Price alerts Yes Yes Yes
Signal trading Yes No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller Yes Yes Yes
Skrill No No Yes
Payment processing time 1-2 business days Varies Varies
Withdrawal processing time 1-6 business days Varies Varies
See all funding options

50% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

Losses can exceed deposits

See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US US BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number 7 (812) 4580354 44 20 3322 1059 (44) (0) 8005200423
Live Chat Yes No Yes
Website https://www.instaforex.com/ https://www.octafx.co.uk/ http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) Not offered 0.4 pips + $0.00 1.3 pips
GBP/USD (Average: 1.1 pips) 2.0 pips 0.5 pips + $0.00 2.0 pips
USD/JPY (Average: 1.1 pips) 2.0 pips 0.4 pips + $0.00 1.5 pips
AUD/USD (Average: 0.8 pips) 2.0 pips 0.6 pips + $0.00 1.8 pips
USD/CHF (Average: 2.3 pips) Not offered 0.4 pips + $0.00 2.0 pips
USD/CAD (Average: 2.9 pips) Not offered 0.6 pips + $0.00 2.5 pips
NZD/USD (Average: 3.6 pips) Not offered 0.8 pips + $0.00 2.8 pips
EUR/GBP (Average: 2.4 pips) Not offered 0.6 pips + $0.00 2.0 pips
View all spreads

50% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

Losses can exceed deposits

View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee Yes No No
Commission Yes, $30 No No
Deposit Fee No No No
Withdrawal Fee Yes No No
View All Fees

50% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

Losses can exceed deposits

View All Fees

71% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from https://www.instaforex.com/. Last updated on 01/10/2019.

All information collected from https://www.octafx.co.uk/. Last updated on 01/10/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/10/2019.

Company

InstaForex are regulated by CySEC. They were founded in 2007 and are used by over 7,000,000 traders.

OctaFX is an online forex trading service provider who are regulated by the Financial Conduct Authority. To open an account with OctaFX, minimum deposits start from $5.

With OctaFX you can trade Forex. If you like to trade on the go, OctaFX have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

OctaFX offer MetaTrader 4, Metatrader 4 for PC, Metatrader 4 for iOS, Metatrader 4 for Android, cTrader, cT Desktop, cT iOS, cT Android, cT Web-based client platforms to make your trades and support 7 different languages.

The spreads offered by OctaFX for the most popular instruments are:
0.6 EUR/USD, n/a FTSE 100, 4.5 GOLD,
0.6 GBP/USD, n/a DOW/JONES, n/a Crude Oil,
see all the spreads here.



For more information about trading with OctaFX, we have put together an indepth OctaFX review with all the pros and cons about this broker.

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.

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Instaforex or OctaFX?

Offers live chat support or low spreads?

If you’re a trader looking for a broker that supports live chat, Instaforex may be the better option. However, if you want a broker with lower spreads on currency pairs like EUR/USD, OctaFX may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider Instaforex and OctaFX to be equally reliable. We’ve broken down why below:

Who are they regulated by?

Instaforex is regulated by CySEC, while OctaFX is regulated by FSA.

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Instaforex has been around for 12 years, while OctaFX have been around for 8 years. Our third alternative broker, AvaTrade, have been around for 13 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Instaforex does not use tier one banks as their banking partner. OctaFX uses tier one banks as their banking partner.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

According to their websites, Instaforex is more popular with over 7,000,000 traders, while OctaFX is used by 300,000 traders. AvaTrade, in comparison, is used by 200,000.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both Instaforex and OctaFX are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Instaforex are based in Kaliningrad, Russia, while OctaFX are based in London, UK .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Instaforex and OctaFX offer forex trading. Instaforex have a slightly larger variety of currency pairs with 107 pairs, compared to offered by OctaFX. Also, if you’re looking to trade cryptocurrencies, Instaforex offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

neither Instaforex nor Instaforex offer commodity trading.

Instaforex also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both Instaforex and OctaFX offer this. Both brokers also offer the new & improved MT5 platformOur alternative broker, AvaTrade, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. AvaTrade, for example, offer a mini account, standard account and VIP account.

For Muslim traders, Instaforex offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Instaforex does allow scalping and hedging. While OctaFX also allows scalping and hedging. You can trade with EAs (expert advisors) on both Instaforex and OctaFX.

In terms of risk management tools, neither Instaforex or OctaFX offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

Instaforex accept Neteller while OctaFX accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Instaforex and OctaFX both charge points. Therefore, both brokers are equally affordable for this instrument. You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Instaforex or OctaFX?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, OctaFX is more reliable based on our criteria above. OctaFX has a wider range of instruments to trade. Instaforex offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.