FP Markets vs OctaFX: Comparison and Analysis

FP Markets vs OctaFX: A Comprehensive Comparison Summary

Security

FP Markets is regulated by CySEC, ASIC, FSCA, and SVG, with a security rating of 93.

OctaFX is regulated by CySEC and SVG, with a security rating of 94.

Winner: OctaFX

Demo Accounts

FP Markets offers a demo account with a duration of 30 days and virtual funds of $100,000. The demo account virtual funds can be replenished by contacting customer support.

OctaFX provides an unlimited demo account with virtual funds of $5,000. Traders can top up the virtual balance anytime they want.

Winner: OctaFX

Account Opening

FP Markets requires a minimum deposit of $100 for Standard and Raw accounts, and $1,000 for Iress accounts. They offer a wide range of account types, including Standard Account, Raw Account, Iress Account, Islamic Account, and a professional account for advanced traders.

OctaFX has a minimum deposit requirement of $50. They offer multiple account types, including MT4 account, MT5 account, Octatrader account, and Islamic account.

Winner: OctaFX

Social-Copy Trading

FP Markets does not offer social or copy trading features.

OctaFX offers copy-social trading through the OctaFX Copy Trading app.

Winner: OctaFX

Markets

FP Markets offers over 70 forex pairs, 18 commodities, 11 indices, 60+ crypto assets, 10,000+ stocks, 0 ETFs, and 4 futures and options contracts. They provide CFD trading and DMA (Direct Market Access) trading for shares.

OctaFX provides 35 forex pairs, 5 commodities, 10 indices, 30+ crypto assets, and 150+ stocks. They are a CFD broker, suitable for short-term investments.

Winner: FP Markets

Trading Fees

FP Markets offers variable spreads, starting from 0 pip on forex (lower than the market average). They charge a commission of $6 per lot traded on Raw accounts, and stock commissions starting from $10.

OctaFX also offers variable spreads, starting from 0.8 pips on forex (below the market average).

Winner: FP Markets

Platforms

FP Markets offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), and Iress platforms. These platforms are available via webtrader, desktop, and mobile devices. All the platforms offered by FP Markets allow traders to engage in algo trading, and they also provide VPS services.

OctaFX has a proprietary platform available via web and mobile, as well as MetaTrader 4 (MT4) and MetaTrader 5 (MT5) available via desktop, mobile, and web.

Winner: Tie

Education/Customer Care

FP Markets provides a wide range of educational materials, including video tutorials, webinars, eBooks, and market analysis. They offer customer support through email, telephone, and live chat, available 24/5 in various languages.

OctaFX offers webinars, forex articles, forex video courses, platform video tutorials, platform articles, a glossary, and an FAQ section. They provide customer care through email and live chat.

Winner: FP Markets

Conclusion

After a comprehensive comparison, both FP Markets and OctaFX offer unique features and advantages. OctaFX has the edge in terms of security, demo accounts, account opening options, and social-copy trading. On the other hand, FP Markets stands out with a broader range of markets, lower trading fees, and extensive education/customer care offerings. Depending on your specific requirements, either broker can be a suitable choice.

Winner: Tie