IC Markets vs OctaFX, 2022 Update
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IC Markets Rating: 8.34 / 10 |
OctaFX Rating: 3.66 / 10 |
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Losses can exceed deposits |
Losses can exceed deposits |
IC Markets vs OctaFX Guide |
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Read our In-Depth IC Markets vs OctaFX Review - 2022 Update
This IC Markets vs OctaFX review has been updated for 2022 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations for each broker, the content in this IC Markets vs OctaFX review 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.
So you are looking for a professional broker and are choosing between IC Markets or OctaFX. Which one is best in 2022?
Our IC Markets vs OctaFX review contains the latest 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 facts will be perplexing for you. Getting into the world of trading requires expert assessing skills and comprehensive understanding. You'll get proficient at all the concepts of broker as you keep trading. For starters, you need to select the ideal agent who'll be transparent with you constantly.
In this fast-paced universe of stock markets and trading, you'll need guidance to make correct decisions. A professionally direct investment plan has the potential to create hefty returns. IC Markets and OctaFX are just two such trading platforms that will take you and your investment into great heights. It is important that you compare IC Markets vs OctaFX before you trust them with your money.
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 full IC Markets vs OctaFX Review covers all you need to learn about trading with either IC Markets or OctaFX. A fantastic agent can multiply your initial investments and provide you positive profits. If you want to earn profits, you must trade with a broker service that aligns with your investment objectives.
There's absolutely no sure-fire way to guarantee profits; thus, you should carefully analyze your broker before you choose them. It is a frequent misconception that all agents will be exactly the same, but that is not correct. Wrong judgment, in the beginning, can put your investments in danger.
IC Markets and OctaFX are both brokers that have forged their way successfully to the brokerage world. In this review, we've tried to collate some of the vital facets of both IC Markets and OctaFX. This review can help you to know whether either OctaFX or IC Markets is a good match for your own investments or not. We've tried to breakdown all of the features and charges for your convenience.
Compare IC Markets vs OctaFX
Every online trading platform has a few ups and downs, and no IC Markets and OctaFX review would be complete without showing both sides. Compare IC Markets and OctaFX to understand how they stack up against each other before you create an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
Benefits of IC Markets and OctaFX Compared
IC Markets offers a minimum deposit of $200 while OctaFX has 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 whilst OctaFX has around 232 available.
The more financial instruments you can trade on the IC Markets and OctaFX 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 should 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 a 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.
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| Broker | IC Markets | OctaFX |
| Telephone Number | +248 467 19 76 | |
| support@icmarkets.com | smm@octafx.com | |
| Address | 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 | |
| YouTube | IC Markets YouTube Channel | OctaFX YouTube Channel |
| Find Out More |
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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.
In this part of our comparison of IC Markets and OctaFX we'll check whether either of their mobile apps tick all the boxes.
Overall, we rate the user-friendliness of the 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.
Search Functions
While most brokers are good at this, there are some poor ones. 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 have only traded US stocks, and you start typing 'Apple', will the software show you either the obscure Irish stock Applegreen or the Apple stock?
IC Markets vs OctaFX - Awards
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| Broker | IC Markets | OctaFX |
| Awards |
IC Markets have won several industry awards over the years they have been operating as an online broker. We detail the most recognised awards for IC Markets here.
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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 |
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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 platforms. For information encryption functions, they supply industry-standard secure socket layers (SSL).
As per their individual privacy policies, client data is to not 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 broker platforms, and many online brokerages charge lower fees than traditional brokerages tend to charge. The cause of this is that the companies of online trading platforms are scaled better. In other words, an online broker is not necessarily affected by the amount of customers they have.
But this does not mean that online brokers do not charge any fees. They charge prices of varying rates for various services to earn money. There are primarily three different types of penalties for this objective.
The first sort of fees to keep an eye out for are trading fees. Whenever you make an actual trade, like buying a stock or an ETF, you're billed trading fees. In these instances, you are spending a spread, financing speed, or even a commission. The kinds of trading charges and the prices 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. Financing or overnight prices are people who are charged when you hold a leveraged position for more than a day.
Aside from trading fees, online agents also charge non-trading fees. These are dependent on the actions you undertake on your account. They're billed for operations like depositing money, not investing for lengthy periods, or withdrawals.
In general, neither IC Markets or OctaFX charge high fees in comparison to other online brokers. For operations other agents fee for, they either do not charge a broker fee, or they charge a lesser amount. This is beneficial for those who regularly exchange, for example daily or weekly trading.
But, non-trading fees charged by IC Markets and OctaFX are relatively competitive. As a result, you're charged more for non-trading activities on your trading accounts, like withdrawal and deposits. These aren't related to the purchase and sale of resources.
This IC Markets vs OctaFX review for 2022 breaks down every one of the applicable non-trading fees for you in detail.
Compare Broker Fees For IC Markets And OctaFX
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| Broker | IC Markets | OctaFX |
| Minimum Deposit | $200 | $5 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
| Find Out More |
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What Languages Do IC Markets And OctaFX Support?
Being able to chat easily with your online broker is a key element when comparing brokers to find your perfect broker. Not only for support but to be sure you completely understand everything on their website and inside their app as it is a key factor to success when trading forex.
Here you will find the languages that both IC Markets and OctaFX support.
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| Broker | IC Markets | OctaFX |
| Languages Supported | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | English |
| Find Out More |
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How Many Clients Do IC Markets and OctaFX Have?
Both IC Markets and OctaFX are well established with their customer base. It is really important to work with an online broker that is reputable and one of the most simple ways of understanding this is by knowing how many clients they already work with.
Below you will find details of how many users IC Markets and OctaFX are active on their platform
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| Broker | IC Markets | OctaFX |
| Clients / Users | 60,000+ | 30,000+ |
| Find Out More |
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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
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| Broker | IC Markets | OctaFX |
| Bank Transfers | Yes | Yes |
| Credit Cards | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Payoneer | No | |
| Neteller | Yes | Yes |
| Find Out More |
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What Can You Trade With IC Markets and OctaFX?
IC Markets offers 232 trading instruments and OctaFX offers .
Below you will find a full breakdown of what both IC Markets and OctaFX offer.
Compare IC Markets To All Other Brokers
Compare OctaFX To All Other Brokers
