BrokerNotes.co is committed to the highest ethical standards and reviews services independently. Learn How We Make Money

OctaFX vs TeleTrade 2023

BrokerNotes.co

Written by BrokerNotes.co

January 31, 2023

Trying to decide between OctaFX and TeleTrade? 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, OctaFX ranks more highly than TeleTrade.

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.
Select Brokers×
Overall RatingOctaFXTeleTrade
Overall Rating 7 / 10 7 / 10
Account TypeOctaFXTeleTrade
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account Yes No
Copy TradingOctaFXTeleTrade
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade No Yes
CryptocurrencyOctaFXTeleTrade
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)OctaFXTeleTrade
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)OctaFXTeleTrade
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsOctaFXTeleTrade
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No No
Social Trading / Copy Trading Yes Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals No No
ETF No No
U.S. Stocks (CFD) Yes Yes
Trading PlatformsOctaFXTeleTrade
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes Yes
Regulatory LicensesOctaFXTeleTrade
Tier-1 Licenses 0 0
ASIC Authorised (Australia) No No
IIROC Authorised (Canada) No No
FCA Authorised (U.K.) No No
SFC Authorised (Hong Kong) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No No
Tier-2 Licenses 1 1
Tier-3 Licenses 0 0
Research, EducationOctaFXTeleTrade
Trading Central (Recognia) No No
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes Yes
Autochartist Yes No
Investor Dictionary (Glossary) Yes No
Videos - Beginner Trading Videos Yes No
Client Webinars (Archived) Yes No
Trading CostsOctaFXTeleTrade
Minimum Initial Deposit $25 $100
Average Spread EUR/USD - Standard 0.6 (August 2021) -1
All-in Cost EUR/USD - Active N/A -1
Active Trader or VIP Discounts No Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No No
Trading ToolsOctaFXTeleTrade
Watchlists - Total Fields 7 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 30 35
Mobile Charting - Indicators / Studies 30 35
Trust FactorsOctaFXTeleTrade
Year Founded 2011 1994
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info Yes info
Trust Score 67 67
  • check_box_outline_blankcheck_boxACY Securities
  • check_box_outline_blankcheck_boxAdmiral Markets
  • check_box_outline_blankcheck_boxAlpari
  • check_box_outline_blankcheck_boxATFX
  • check_box_outline_blankcheck_boxAvaTrade
  • check_box_outline_blankcheck_boxAxiTrader
  • check_box_outline_blankcheck_boxBDSwiss
  • check_box_outline_blankcheck_boxBlackBull Markets
  • check_box_outline_blankcheck_boxCapital.com
  • check_box_outline_blankcheck_boxCity Index
  • check_box_outline_blankcheck_boxCMC Markets
  • check_box_outline_blankcheck_boxDooPrime
  • check_box_outline_blankcheck_boxeasyMarkets
  • check_box_outline_blankcheck_boxEightcap
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxExness
  • check_box_outline_blankcheck_boxFineco Bank
  • check_box_outline_blankcheck_boxFlowBank
  • check_box_outline_blankcheck_boxFOREX.com
  • check_box_outline_blankcheck_boxForex4you
  • check_box_outline_blankcheck_boxFP Markets
  • check_box_outline_blankcheck_boxFXCM
  • check_box_outline_blankcheck_boxFXOpen
  • check_box_outline_blankcheck_boxFXPrimus
  • check_box_outline_blankcheck_boxFxPro
  • check_box_outline_blankcheck_boxGBE brokers
  • check_box_outline_blankcheck_boxGKFX
  • check_box_outline_blankcheck_boxHFM
  • check_box_outline_blankcheck_boxHYCM (Henyep)
  • check_box_outline_blankcheck_boxIC Markets
  • check_box_outline_blankcheck_boxIG
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxIronFX
  • check_box_outline_blankcheck_boxLegacyFX
  • check_box_outline_blankcheck_boxLibertex (Forex Club)
  • check_box_outline_blankcheck_boxMarkets.com
  • check_box_outline_blankcheck_boxMoneta Markets
  • check_box_outline_blankcheck_boxOANDA
  • check_box_outline_blankcheck_boxOctaFX
  • check_box_outline_blankcheck_boxPepperstone
  • check_box_outline_blankcheck_boxPlus500
  • check_box_outline_blankcheck_boxRoboForex (RoboMarkets)
  • check_box_outline_blankcheck_boxSaxo Bank
  • check_box_outline_blankcheck_boxSpreadex
  • check_box_outline_blankcheck_boxSwissquote
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTeleTrade
  • check_box_outline_blankcheck_boxThinkMarkets
  • check_box_outline_blankcheck_boxTickmill
  • check_box_outline_blankcheck_boxTMGM
  • check_box_outline_blankcheck_boxTopFX
  • check_box_outline_blankcheck_boxTrade Nation
  • check_box_outline_blankcheck_boxTrade360
  • check_box_outline_blankcheck_boxTradeo
  • check_box_outline_blankcheck_boxTrading 212
  • check_box_outline_blankcheck_boxUFX
  • check_box_outline_blankcheck_boxVantage
  • check_box_outline_blankcheck_boxVestle
  • check_box_outline_blankcheck_boxVT Markets
  • check_box_outline_blankcheck_boxXM Group
  • check_box_outline_blankcheck_boxXTB
  • check_box_outline_blankcheck_boxXtrade
Compare 0 of 5
arrow_upward

OctaFX vs TeleTrade 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 OctaFX vs TeleTrade.

Can I trust OctaFX?

OctaFX has a trust score of 67, 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 TeleTrade?

TeleTrade has a trust score of 67, giving it a "High Risk" trust label.

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.

Is TeleTrade a good broker?

TeleTrade is primarily a MetaTrader broker that is best known for its mobile analytics app. Holding just one regulatory license, TeleTrade's trust factor is well below than the industry average.

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. unfortunately, neither OctaFX nor TeleTrade are ASIC Authorised (Australia), IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland), FCA Authorised (U.K.) and CFTC Registered (USA)., neither have 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, both OctaFX and TeleTrade are CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither OctaFX nor TeleTrade are SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu)., neither have VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

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

Does OctaFX offer MetaTrader? Does TeleTrade offer MetaTrader?

Both OctaFX and TeleTrade 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 OctaFX and TeleTrade differ in terms of minimum deposit? What about average spreads and funding options?

OctaFX requires a minimum deposit of $25, while TeleTrade requires a minimum deposit of $100. From our testing we found OctaFX offers spreads of 0.6 (August 2021), while TeleTrade offers spreads of -1. Both OctaFX and TeleTrade 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, OctaFX or TeleTrade?

Both OctaFX and TeleTrade allow you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD)., neither have Spread Betting, Agriculturals and ETF Looking at total tradeable symbols, OctaFX has 80, compared to 500 from TeleTrade.

Can I trade cryptocurrency with OctaFX or TeleTrade?

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 OctaFX nor TeleTrade allow you to trade physical cryptocurrencies.

Who offers more research tools, OctaFX or TeleTrade?

In terms of research and research tools OctaFX gives traders the following tools: Autochartist, Daily Market Commentary, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. In comparison TeleTrade has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading., neither have Trading Central (Recognia)

Broker Reviews

Still looking for more information, read our broker reviews.

OctaFX Review

Teletrade Review

Overall winner: OctaFX

Popular Forex Reviews

Popular Forex Guides


Was this helpful?
Yes or No

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.

close