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Exness vs OctaFX 2023

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between Exness and OctaFX? We’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, Exness ranks more highly than OctaFX.

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Compare

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Overall Rating Exness OctaFX
Overall Rating 7.2 / 10 7 / 10
Account Type Exness OctaFX
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info Yes Yes
Copy Trading Exness OctaFX
Social Trading / Copy Trading info No Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency Exness OctaFX
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info No Yes
Bitcoin info Yes Yes
ethereum info Yes Yes
Forex Trading (Spot or CFDs) Exness OctaFX
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) Exness OctaFX
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments Exness OctaFX
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No No
Social Trading / Copy Trading info No Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info No No
ETF info No No
U.S. Stocks (CFD) info Yes Yes
Trading Platforms Exness OctaFX
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info No Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
Regulatory Licenses Exness OctaFX
Tier-1 Licenses info 2 1
Australia (ASIC Authorised) info No No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
European Union Authorised (MiFID) info Yes info Yes info
Tier-2 Licenses info 0 1
Tier-3 Licenses info 0 0
Research, Education Exness OctaFX
Trading Central (Recognia) info Yes No
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info No Yes
Autochartist info No Yes
Investor Dictionary (Glossary) info No Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs Exness OctaFX
Minimum Deposit info $1 $25
Average Spread EUR/USD - Standard info 0.9 info 0.9 info
All-in Cost EUR/USD - Active info N/A N/A
Active Trader or VIP Discounts info No No
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info No No
Trading Tools Exness OctaFX
Watchlists - Total Fields info (default Metatrader) 7
Mobile Watchlist info No Yes
Charting - Indicators / Studies (Total) info (default Metatrader) 30
Mobile Charting - Indicators / Studies info (default Metatrader) 30
Trust Factors Exness OctaFX
Year Founded info 2008 2011
Publicly Traded (Listed) info No No
Bank info No No
European Union Authorised (MiFID) info Yes info Yes info
Trust Score info 68 70
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Exness vs OctaFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Exness vs OctaFX.

Can I trust Exness?

Exness has a trust score of 68, giving it a "High Risk" 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 – in most cases – 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 “Do Not Trust” rating.

Can I trust OctaFX?

OctaFX has a trust score of 70, giving it a "Average Risk" trust label.

Is Exness a good broker?

Founded in 2008, Exness is a MetaTrader broker that offers both MT4 and MT5 platforms, alongside its proprietary client portal Terminal and the Exness Social Trading app for social copy trading. Exness also offers competitive spreads on its commission-based and Pro accounts. That said, the broker's lack of significant regulatory licenses weighs down its Trust Score, and its research and educational offerings trail behind the best brokers.

Is OctaFX a good broker?

Founded in 2011, OctaFX delivers access to both MetaTrader 4 and MetaTrader 5 alongside its own OctaTrader platform for web and its proprietary OctaFX Copytrading app for social copy trading. OctaFX has decent pricing, but its range of markets is narrow, and the broker is only regulated in one Tier-1 jurisdiction (which brings down its Trust Score rating).

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. Exness is United Kingdom (U.K.) (FCA Authorised), while OctaFX is none.. Neither have Australia (ASIC Authorised), Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

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, Exness is Cyprus (CySEC Authorised), while OctaFX is Cyprus (CySEC Authorised) and South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses unfortunately, neither Exness nor OctaFX are Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).. Neither have Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

For trading platforms Exness supports a Desktop Platform (Windows), whereas OctaFX supports a Proprietary Platform and Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade

Does Exness offer MetaTrader? Does OctaFX offer MetaTrader?

Both Exness and OctaFX offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

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

Exness requires a minimum deposit of $1, while OctaFX requires a minimum deposit of $25. From our testing we found Exness offers spreads of 0.9 , while OctaFX offers spreads of 0.9. Both Exness and OctaFX offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits.. Neither have PayPal (Deposit/Withdraw)

Which broker offers more tradeable asset classes, Exness or OctaFX?

Exness offers a more diverse selection of investment options than OctaFX allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies and U.S. Stocks (CFD).. Neither have Spread Betting, Agriculturals and ETF Looking at total tradeable symbols, Exness has 112, compared to 229 from OctaFX.

Can I trade cryptocurrency with Exness 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 — including spot forex contracts. In terms of trading physical cryptocurrency neither Exness nor OctaFX allow you to trade physical cryptocurrencies.

Who offers more research tools, Exness or OctaFX?

In terms of research and research tools Exness gives traders the following tools: Forex News (Top-Tier Sources) and Trading Central (Recognia). In comparison OctaFX has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.

Broker Reviews

Still looking for more information, read our broker reviews.

Exness Review

OctaFX Review

Overall winner: Exness

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announcementPlease note:

We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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