Exness vs OCTA Comparison – 2024

Top Reasons to Choose Exness or OCTA

After a detailed analysis, I found that Exness is well-suited for beginners, thanks to its user-friendly Exness Terminal platform and zero inactivity fees. It also caters to professionals with raw-spread trading accounts. OCTA, on the other hand, primarily targets beginners by offering access to micro lots, copy trading, and a range of educational and research tools. However, experienced traders can benefit from the advanced features available on the MetaTrader platform.

Exness: Snapshot

Founded in 2008 and based in Cyprus, Exness is licensed by seven global regulators. The broker provides access to over 220 CFD markets through its proprietary Trading Terminal and MetaTrader 4 & 5 platforms, offering five distinct account types. Exness also provides an extensive range of research resources, including insights from third-party provider Trading Central.

Exness: Who is it For?

Exness caters to beginner traders with its user-friendly Trading Terminal web platform, mobile app, commission-free trading, and educational resources. For professionals, Exness offers raw-spread trading accounts with spreads starting from 0.0 pips, expert market research, and the opportunity to utilize extremely high leverage through the offshore entity regulated by FSA Seychelles.

What Makes Exness Stand Out?

Exness stands out for being licensed by seven global regulators and offering access to over 90 forex pairs across multiple trading accounts — well above the industry average.

OCTA: Snapshot

Founded in 2011, OCTA operates through three regulated entities and one unregulated entity. The broker provides access to over 254 financial CFD instruments via the proprietary OctaTrader, as well as MT4, and MT5 platforms. It also offers extensive educational resources and trading ideas powered by Autochartist.

OCTA: Who is it For?

OCTA is well-suited for beginners, offering access to micro lots for small trading accounts, robust educational resources, trading ideas from Autochartist, and copy trading options. Advanced traders can benefit from the MetaTrader platform’s tools and the opportunity to earn extra income as a Master Trader through its copy trading platform.

What Makes OCTA Stand Out?

OCTA stands out with its competitive spreads and detailed research from in-house analysts. It’s also a crypto-friendly broker, offering over 30 crypto CFDs and the ability to deposit and withdraw using cryptocurrency.

Trust

Exness vs OCTA Trust and Regulation Comparison

Established in 2008, Exness operates through seven global entities. Two of these are licensed by Tier-1 regulators, the FCA (UK) and CySEC (Cyprus), while two others are licensed by Tier-2 regulators, FSCA (South Africa) and CMA (Kenya). The remaining three entities are licensed by lower-tier regulators. The Tier-1 regulated entities offer the highest level of transparency in terms of trading fees, conditions, and client fund security. To summarize, we rate Exness as moderately trustworthy and stable due to its 16-year operating history, status as a multi-asset broker, segregation of client funds, negative balance protection, and Financial Commission membership.

Established in 2011, OCTA operates through four global entities. One is licensed by Tier-1 regulator CySEC (Cyprus), another by Tier-2 regulator FSCA (South Africa), and a third by Tier-3 regulator MISA (Mwali). The fourth entity, registered in St. Lucia, remains unregulated. The Tier-1 regulated entity provides the highest level of safety and transparency. According to the broker’s website, clients benefit from negative balance protection, and their funds are segregated from the company’s operating funds. Based on our research, we rated OCTA’s overall level of transparency as mixed.

If you want to learn more about brokers’ regulations, be sure to check out our article on the top regulated forex brokers.

Fees

Exness vs OCTA Spreads, Fees and Commissions Comparison

In Exness’ commission-free Standard CFD account, we found that the EUR/USD spread averaged 1.0 pips during both the London and New York sessions, outperforming the industry average of 1.08 pips. However, spreads on the Standard account can vary, and tighter spreads are available with the Professional account types. In most cases, no swap fees are charged, and Exness imposes no inactivity, deposit, or withdrawal fees.

OCTA stood out in the Fees category, offering tight spreads on forex and share CFDs. From OCTA’s commission-free account, we found the EUR/USD spread averaged 1.0 pips during the London session and 0.8 pips during the US session, both better than the industry average. Additionally, there are no overnight swap fees or inactivity fees.

Platforms and Tools

Exness vs OCTA Trading Platforms Comparison

The Exness Terminal platform is robust, intuitive, and available on both web and mobile. Its user-friendly interface is designed to meet the needs of beginner traders, while also offering advanced features like one-click trading and sentiment indicators. On the other hand, the MT4 and MT5 platforms have a steeper learning curve, catering to advanced traders interested in algorithmic trading.

The OctaTrader web platform is well-designed and intuitive, featuring powerful charting tools from TradingView, as well as one-click trading, price alerts, and watchlists. The OctaFX copy trading app offers a straightforward way for beginners to copy trades from other traders. For advanced traders, OCTA provides the MT4 and MT5 platforms, available on desktop, web, and mobile.

Tradable Instruments

Exness vs OCTA Instruments Selection Comparison

Exness offers a streamlined selection of tradable instruments, well-suited for beginners. It provides access to over 220 markets, including forex, indices, cryptocurrencies, commodities, and stock CFDs. With 96 forex pairs available, Exness exceeds the industry average, catering to the needs of intermediate forex traders.

OCTA provides a selection of 254 markets, covering forex, cryptocurrencies, indices, commodities, and stock CFDs. The 52 available currency pairs are ideal for beginner traders, while the offering of over 34 cryptocurrencies appeals to dedicated crypto traders.

Customer Support

Exness vs OCTA Customer Support Comparison

Exness offers 24/7 customer support in 16 languages via live chat, phone, and email. In our evaluation, we found that phone and live chat provided the fastest response times, while emails took several days to receive a reply. The customer support agents were helpful and knowledgeable when handling various inquiries.

OCTA provides 24/7 customer support in over 28 languages via live chat and email. During our live interactions, we connected with a live chat agent within seconds, and email responses were received the same day. The agents were attentive and effective in addressing different queries.

Research

Exness vs OCTA Research Tools Comparison

Exness offers a comprehensive range of third-party research tools accessible via its web platform and mobile app, catering to both beginner and advanced traders. Trading Central provides trading signals and market research, covering global markets with the option to filter ideas based on short-term or long-term perspectives. Additionally, the Market News section within the client portal delivers real-time updates, with news sourced from FXStreet.

OCTA provides extensive market research, including daily and weekly forecasts from its in-house analysts that cover economic data and major market movements. Traders with live accounts exceeding $1,000 can access the Autochartist plugin for market reports and trading ideas, making it a useful resource for both beginner and advanced traders.

Deposits & Withdrawals

Exness vs OCTA Deposit and Withdrawal Methods Comparison

Exness offers a wide selection of fee-free deposit and withdrawal options, including bank wire transfer, credit/debit cards, Neteller, Skrill, Perfect Money, Mybux, Ozow, Bitcoin, USDC, and USDT. The minimum amount for wire transfers is $10,000, while other methods require a minimum of $10. Processing times range from one hour to seven days, depending on the chosen method.

OCTA provides fee-free deposits and withdrawals via bank wire transfer, Visa, Neteller, Skrill, Bitcoin, Dogecoin, Ethereum, Litecoin, and Tether. Deposits are processed in as little as 1 minute up to 3 hours, while withdrawals are typically completed within one to three hours.

Account Types and Terms

Exness vs OCTA Account Types Comparison

Exness offers five main account options designed for different trader profiles. The Standard and Standard Cent accounts are ideal for beginners, featuring zero commissions and a low minimum deposit of $10. For professionals, the Raw Spread, Zero, and Pro accounts offer spreads starting from 0.0 pips, though they come with a commission per trade and a higher minimum deposit of $200.

OCTA provides three primary account options, all with a minimum deposit of $25. The OctaFX MT4 and OctaFX MT5 accounts cater to beginner traders with zero commission and a limited selection of markets. The OctaTrader account is suited for intermediate traders, offering a broader range of tradable instruments and floating spreads with zero commission.

Education

Exness vs OCTA Educational Content Comparison

Exness offers a diverse array of educational resources for both beginner and intermediate traders. The Exness Academy features three courses: “How Trading Works,” “How to Analyze,” and “Managing Risk.” Each course combines articles and videos and concludes with a quiz to assess your knowledge and understanding.

OCTA provides live education through daily webinars and workshops. It offers a wide range of courses covering trading basics, platform tutorials, and how to get started with copy trading. The educational content is designed to cater to both beginner and intermediate traders.

Our Methodology

Since 2011, FX Empire has developed a detailed methodology for evaluating CFD brokers, involving over 250 variables across nine crucial categories. Our team of experts, with deep industry knowledge, conducts live testing and research by interacting with the brokers directly. We check regulations, open accounts, test spreads, account costs, platform functionality, instrument variety, customer support reliability, and the quality of research and educational content. This granular analysis helps us identify each broker’s strengths and weaknesses, keeping our comparisons current with market trends and ensuring our guides meet traders’ needs.

We strive to evaluate each broker objectively, considering how their offerings align with the diverse trading goals and preferences of our readers. Our focus is on providing a balanced overview of each broker’s strengths and weaknesses. This method ensures that our readers receive clear, insightful comparisons to aid in making well-informed trading decisions.

We employ a comprehensive rating system across nine key categories:

• Trust
• Fees
• Platforms and Tools
• Tradable Instruments
• Customer Support
• Research
• Deposits and Withdrawals
• Account Types and Terms
• Education

In each category, we conduct an in-depth analysis for both brokers, outlining features, advantages, and disadvantages and determining their suitability for different trader profiles. By blending insights from our extensive reviews with first-hand experiences and observations, we ensure each comparison is balanced, informative, and tailored to the trader’s unique needs. You can read more about our review process here.

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