IC Markets vs OctaFX, 2024 Update
IC Markets Rating
Losses can exceed deposits
Losses can exceed deposits
IC Markets vs OctaFX Guide
Read our In-Depth IC Markets vs OctaFX Review - 2024 Update
This review comparing IC Markets and OctaFX has been revised for 2024 by seasoned professionals with extensive financial experience across Forex, Social Trading, & CFDs.
Please note that due to regulations for each broker, the content in this comparison of IC Markets vs OctaFX does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
OctaFX Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare IC Markets vs OctaFX
All trading platforms will have some pros and cons, so any comprehensive review of IC Markets and OctaFX cannnot be complete without having an objective perspective.
Compare OctaFX and IC Markets to understand just how these platforms line up to each other prior to you choose to create an account. Conducting a comprehensive comparison helps to place factors into perspective in order that you're informed about what you should anticipate.
So you are looking for a professional broker and are choosing between IC Markets or OctaFX. Which one is best in 2024?
This IC Markets vs OctaFX comparison contains the most recent information so you can easily compare OctaFX against IC Markets.
If you are a new entrant in the world of trading and brokerages, so many details will be perplexing for you. Getting into the area of trading requires expert assessing skills and comprehensive knowledge. You'll acquire adept at all of the concepts of broker since you continue trading. For starters, you have to choose the ideal agent who'll be clear with you always.
Within this fast-paced world of stock markets and trading, you will need advice to make correct decisions. A professionally lead investment plan has the potential to create hefty returns. IC Markets and OctaFX are two such stages which will take you and your investment into great heights. It is crucial to compare IC Markets vs OctaFX until you trust them with your cash.
Our IC Markets vs OctaFX comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and OctaFX side by side.
Our entire IC Markets vs OctaFX Review covers all you need to learn about trading with either IC Markets or OctaFX. A fantastic broker can multiply your initial investments and give you favorable profits. If you would like to make profits, you should trade with a broker service that aligns with your investing objectives.
There's absolutely no sure-fire method to guarantee profits; therefore, you must carefully analyze your broker before you choose them. It is a frequent misconception that all agents are exactly the same, but that is not true. Wrong judgment, initially, can put your investments at risk.
IC Markets and OctaFX are both brokers which have found their way successfully to the broker world. Within this review, we've tried to collate some of the important aspects of both IC Markets and OctaFX. This review will allow you to know whether either OctaFX or IC Markets is a good fit for your investments or not. We have attempted to breakdown all of the features and fees for your advantage.
Benefits of IC Markets and OctaFX Compared
IC Markets has a minimum deposit of $200 while OctaFX offers a $5 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and OctaFX compare
The main reason is that you should only deposit what you can afford. If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage of your allocated trading funds. Don't let a higher minimum deposit totally put you off a broker, look at the overall trading features you are getting from the trading platform. Often a high minimum deposit gives greater choice in the financial assets and trading platform research features.
IC Markets has around 232 financial instruments while OctaFX allows you to trade around 232 financial instruments available.
The more instruments you can trade on the IC Markets and OctaFX trading platforms the better. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you never want to miss out on a trading opportunity due to the limitations of IC Markets or OctaFX.
IC Markets and OctaFX Contact Details
Being able to contact your broker easily is a sign of a professional broker. IC Markets and OctaFX have the following contact details and social medias that you can use.
|+248 467 19 76
|Level 4, 50 Carrington Street, Sydney NSW 2000
|133 HOUNDSDITCH, London, Greater London EC3A 7BX
|IC Markets Twitter Account
|OctaFX Twitter Account
|IC Markets Facebook Page
|OctaFX Facebook Page
|IC Markets Instagram Account
|OctaFX Instagram Account
|IC Markets LinkedIn Page
|OctaFX LinkedIn Page
|IC Markets YouTube Channel
|OctaFX YouTube Channel
|Find Out More
OctaFX and IC Markets Mobile App Comparison
As more and more traders and investors use their smartphones for trading, it is increasingly important that brokers offer easy-to-use apps that can deliver the same services as desktop platforms.
This part of comparing IC Markets and OctaFX will examine whether their mobile app meets all our requirements.
Overall, we rate the user-friendliness of both apps as Better than the average.
It is crucial that trading apps have user-friendly capabilities, especially for those who use it with their smartphones.
Although most brokers do OK in this area, there are some bad apples out there. For example, if you start typing 'Emerging markets', will the software find all the Emerging markets ETFs for you, even if their name doesn't start with 'emerging'? If you only ever traded US stocks and start typing 'Apple', will the AI show you the Apple stock or the obscure Irish stock Applegreen?
IC Markets vs OctaFX - Awards
IC Markets have won numerous industry awards over the years they have been operating as an online trading platform. We detail the most notable awards for IC Markets below.
|At the time of writing this OctaFX review, and despite OctaFX’s impressive offering, the company has surprisingly not garnered any awards to date.
|Find Out More
IC Markets vs OctaFX - Frequently Asked Questions
IC Markets vs OctaFX - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its headquaters in Australia.
OctaFX was founded in 2014 and has its headquaters in St. Vincent and the Grenadines.
What is the minimum deposit for OctaFX or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for OctaFX is $5.
Depending on your current situation, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both IC Markets and OctaFX are a good option.
IC Markets vs OctaFX - Regulation And Licencing In More Detail
IC Markets is regulated by Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC).
OctaFX is regulated by Financial Conduct Authority (FCA).
Both IC Markets and OctaFX have a strong collection of rules for ensuring fair trading onto their own platforms. For information encryption functions, they provide industry-standard secure socket layers (SSL).
As per their own privacy policies, client information is never to be shared with any other institutions or individuals. Including credit history and other financial details.
Compare IC Markets vs OctaFX Commission And Fees
IC Markets and OctaFX are online brokerage platforms, and many online brokerages charge lower prices than traditional brokerages tend to bill. The reason for this is that the businesses of online trading platforms are scaled much better. In other words, an internet broker isn't necessarily affected by the number of clients they have.
However, this doesn't mean that online brokers do not charge any fees. They charge prices of varying rates for a variety of services to make money. There are mainly 3 types of fees for this objective.
The first sort of charges to keep an eye out for are trading charges. When you make a genuine trade, like purchasing a stock or an ETF, you are billed trading charges. In such instances, you're paying a spread, funding speed, or even a commission. The sorts of trading charges and the rates differ from broker to broker.
Commissions could be fixed or determined by the traded volume. On the flip side, a spread refers to the difference between the buying and selling price. Funding or overnight prices are those who are charged when you maintain a leveraged position for more than daily.
Apart from trading fees, online brokers also bill non-trading fees. These are dependent on the actions you undertake on your account. They are billed for surgeries like depositing money, not investing for long periods, or withdrawals.
In general, neither IC Markets or OctaFX charge high fees compared to other online agents. For operations other agents fee for, they either do not charge a brokerage fee, or they charge a smaller amount. This is beneficial for people who often trade, for example daily or weekly trading.
However, non-trading fees billed by IC Markets and OctaFX are relatively higher. As a result, you are charged more for non-trading activities in your trading account, such as deposits and withdrawal. These are not related to the sale and purchase of resources.
This IC Markets vs OctaFX review for 2024 breaks down each of the applicable non-trading fees for you in detail.
Compare Broker Fees For IC Markets And OctaFX
|Find Out More
What Languages Do IC Markets And OctaFX Support?
Being able to talk easily with your trading broker is a key element when comparing brokers to find the best broker. Not only for support but to be sure you understand everything on their website and inside their app as it is a key factor to success when trading forex.
Below you will find the languages that both IC Markets and OctaFX support.
|English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
|Find Out More
How Many Clients Do IC Markets and OctaFX Have?
Both IC Markets and OctaFX are well known and trusted. It is important to work with a broker that is reputable and one of the easiest ways of understanding this is by knowing how many clients are using their services.
Below you will find details of how many customers IC Markets and OctaFX are active on their platform
|Clients / Users
|Find Out More
What Payment Methods Do IC Markets and OctaFX Accept?
IC Markets and OctaFX both offer a wide range of payment options which is vital when you have a global customer base.
Below you will find details of all the payment options available at IC Markets and OctaFX
|Find Out More
What Can You Trade With IC Markets and OctaFX?
IC Markets offers 232 trading instruments while OctaFX offers .
Below you will find a full breakdown of what both IC Markets and OctaFX offer.
IC Markets Review
IC Markets vs OctaFX:
Table Of Contents
- Compare IC Markets vs OctaFX
- Benefits of IC Markets and OctaFX Compared
- OctaFX and IC Markets Mobile App Comparison
- IC Markets vs OctaFX - Awards
- IC Markets vs OctaFX - Frequently Asked Questions
- What is the minimum deposit for OctaFX or IC Markets
- IC Markets vs OctaFX - Regulation And Licencing In More Detail
- Compare Broker Fees For IC Markets And OctaFX
- What Languages Do IC Markets And OctaFX Support?
- How Many Clients Do IC Markets and OctaFX Have?
- What Payment Methods Do IC Markets and OctaFX Accept?
- What Can You Trade With IC Markets and OctaFX?