OctaFX vs FP Markets, Who's The Best?
OctaFX Rating
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FP Markets Rating
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Losses can exceed deposits |
Losses can exceed deposits |
OctaFX vs FP Markets Guide |
Read our In-Depth OctaFX vs FP Markets Review - 2024 Update
Our OctaFX vs FP Markets review has been refreshed for 2024 by seasoned professionals with considerable financial experience in CFDs, Forex, & Social Trading.
Please note that due to regulations for each broker, the content in this comparison of OctaFX vs FP Markets does not apply to all countries as follows:
OctaFX Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
FP Markets Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare OctaFX vs FP Markets
All trading platforms feature some advantages and disadvantages, so any comprehensive OctaFX and FP Markets review would not be complete without embracing a balanced approach.
Examine FP Markets and OctaFX to get a better understanding of the way they stack up against one another before you open an account. Performing a comparative analysis will place factors in perspective in order that you're informed about what to expect.
So you are looking for a reputable broker and are choosing between OctaFX or FP Markets. Who should you choose?
Our OctaFX vs FP Markets comparison contains the latest information so you can easily compare FP Markets against OctaFX.
If you are a new entrant in the world of trading and brokers, so many facts will be perplexing for you. Getting into the area of trading demands expert analyzing skills and comprehensive knowledge. You will acquire proficient at all the concepts of broker since you continue trading. For starters, you need to select the right broker who will be clear with you constantly.
In this fast-paced world of stock markets and trading, you'll need advice to make proper decisions. A professionally lead investment program has the potential to generate hefty returns. OctaFX and FP Markets are just two such stages that will take you along with your investment into great heights. It is important to compare OctaFX vs FP Markets before you trust them with your money.
Our OctaFX vs FP Markets comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust OctaFX and FP Markets side by side.
Our entire OctaFX vs FP Markets Review covers all you will need to learn about trading with either OctaFX or FP Markets. A fantastic agent can multiply your initial investments and give you favorable profits. If you want to earn profits, you should trade with a broker service that contrasts with your investing objectives.
There is no sure-fire method to guarantee profits; thus, you should carefully analyze your agent before you choose them. It is a common misconception that all agents will be the same, but that is not true. Wrong judgment, initially, can put your investments at risk.
OctaFX and FP Markets are both brokers which have paved their way successfully to the broker world. In this review, we've attempted to collate a number of the important facets of both OctaFX and FP Markets. This review will allow you to know whether either FP Markets or OctaFX is a fantastic match for your own investments or not. We have tried to breakdown all of the qualities and fees for your advantage.
Benefits of OctaFX and FP Markets Compared
OctaFX offers a minimum deposit of $5 while FP Markets offers a $100 minimum deposit.
Why smaller minimum deposits are good and how OctaFX and FP Markets 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.
OctaFX has around financial instruments while FP Markets allows you to trade around financial instruments available.
The more instruments you can trade on the OctaFX and FP Markets 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 OctaFX or FP Markets.
OctaFX and FP Markets Contact Details
Being able to contact your broker simply is important. OctaFX and FP Markets have the following contact details and social medias that you can use.
Broker | OctaFX | FP Markets |
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Telephone Number | +44 28 2544 7780 | |
smm@octafx.com | supportteam@fpmarkets.com | |
Address | 133 HOUNDSDITCH, London, Greater London EC3A 7BX | First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines |
OctaFX Twitter Account | FP Markets Twitter Account | |
OctaFX Facebook Page | FP Markets Facebook Page | |
OctaFX Instagram Account | FP Markets Instagram Account | |
OctaFX LinkedIn Page | FP Markets LinkedIn Page | |
YouTube | OctaFX YouTube Channel | FP Markets YouTube Channel |
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FP Markets and OctaFX Mobile App Comparison
It is becoming increasingly important for brokers to offer simple-to-use apps that provide the same services as desktop platforms.
In this part of our comparison of OctaFX and FP Markets we'll check whether either of their mobile apps tick all the boxes.
We rate overall the user-friendliness of the apps as better than average.
It is important that any trading app has user friendly capabilities especially with the
Search Functions
While most brokers are good at this, there are some poor ones. If you type 'Emerging markets' into the search box, the software will find all Emerging market ETFs, even if the name doesn't begin 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?
OctaFX vs FP Markets - Awards
Broker | OctaFX | FP Markets |
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Awards | At the time of writing this OctaFX review, and despite OctaFX’s impressive offering, the company has surprisingly not garnered any awards to date. |
FP Markets have won numerous industry awards over the time they have been running as an online trading platform. We detail the most recognised awards for FP Markets below.
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OctaFX vs FP Markets - Frequently Asked Questions
OctaFX vs FP Markets - Headquarters And Year Of Founding
OctaFX was founded in 2014 and has its headquaters in St. Vincent and the Grenadines.
FP Markets was founded in 2005 and has its head office in Australia.
What is the minimum deposit for FP Markets or OctaFX
The minimum deposit for OctaFX is $5.
The minimum deposit for FP Markets is $100.
Depending on your needs, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both OctaFX and FP Markets are a good option.
OctaFX vs FP Markets - Regulation And Licencing In More Detail
OctaFX is regulated by Financial Conduct Authority (FCA).
FP Markets is regulated by Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC).
Both OctaFX and FP Markets have a strong collection of rules for ensuring fair trading on their platforms. For data encryption purposes, they supply industry-standard secure socket layers (SSL).
In accordance with their individual privacy regulations, customer data is never to be shared with any other institutions or individuals. This includes credit history and other financial details.
Compare OctaFX vs FP Markets Commission And Fees
OctaFX and FP Markets are online brokerage platforms, and most online brokerages charge lower prices than traditional brokerages tend to bill. The cause of this is that the businesses of online trading platforms are scaled much better. That is, an online broker is not necessarily affected by the number of clients they have.
But this doesn't mean that online brokers don't charge any fees. They charge fees of varying rates for various services to make money. There are mainly 3 types of fees for this objective.
The first sort of fees to keep an eye out for are trading charges. When you make a genuine trade, like buying a stock or an ETF, you are charged trading charges. In such cases, you are paying a spread, funding rate, or a commission. The sorts of trading charges and the prices differ from broker to broker.
Commissions can be fixed or dependent on the traded volume. On the other hand, a spread denotes the difference between the buying and selling cost. Funding or overnight rates are those that are billed when you maintain a leveraged position for longer than a day.
Aside from trading charges, online brokers also charge non-trading fees. These are dependent on the actions you undertake on your accounts. They're billed for operations like depositing cash, not trading for lengthy periods, or withdrawals.
Generally, neither OctaFX or FP Markets charge high fees in comparison to other online brokers. For operations other brokers fee for, they do not charge a broker fee, or they charge a lesser sum. This is beneficial for those who often exchange, such as daily or weekly trading.
But, non-trading fees charged by OctaFX and FP Markets are relatively lower. Consequently, you are billed more for non-trading actions on your trading accounts, such as withdrawal and deposits. These are not about the sale and purchase of resources.
This OctaFX vs FP Markets review for 2024 breaks down each of the relevant non-trading charges for you in detail.
Compare Broker Fees For OctaFX And FP Markets
Broker | OctaFX | FP Markets |
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Minimum Deposit | $5 | $100 |
Withdrawal Fees | No | No |
Inactivity Fees | No | No |
Deposit Fees | No | Yes |
CFD Fees | No | Yes |
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What Languages Do OctaFX And FP Markets Support?
Being able to talk completely with your online broker is a key way of comparing online brokers to find your perfect trading partner. Not only for support but to be sure you understand everything on their site and inside their app as it is a key factor to success when trading forex.
Below you can find the languages that both OctaFX and FP Markets support.
Broker | OctaFX | FP Markets |
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Languages Supported | English | |
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How Many Clients Do OctaFX and FP Markets Have?
Both OctaFX and FP Markets are well established with their client base. It is really important to work with a broker that is professional and one of the easiest ways of understanding this is by knowing how many customers they already work with.
Below you will find details of how many customers OctaFX and FP Markets have
Broker | OctaFX | FP Markets |
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Clients / Users | 30,000+ | 10,000+ |
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What Payment Methods Do OctaFX and FP Markets Accept?
OctaFX and FP Markets 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 OctaFX and FP Markets
Broker | OctaFX | FP Markets |
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Bank Transfers | Yes | Yes |
Credit Cards | Yes | Yes |
PayPal | No | Yes |
Skrill | No | Yes |
Payoneer | No | |
Neteller | Yes | Yes |
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What Can You Trade With OctaFX and FP Markets?
OctaFX offers trading instruments and FP Markets offers 100.
Below you will find a full breakdown of what both OctaFX and FP Markets offer.
OctaFX Review
OctaFX vs FP Markets:
Table Of Contents
- Compare OctaFX vs FP Markets
- Benefits of OctaFX and FP Markets Compared
- FP Markets and OctaFX Mobile App Comparison
- OctaFX vs FP Markets - Awards
- OctaFX vs FP Markets - Frequently Asked Questions
- What is the minimum deposit for FP Markets or OctaFX
- OctaFX vs FP Markets - Regulation And Licencing In More Detail
- Compare Broker Fees For OctaFX And FP Markets
- What Languages Do OctaFX And FP Markets Support?
- How Many Clients Do OctaFX and FP Markets Have?
- What Payment Methods Do OctaFX and FP Markets Accept?
- What Can You Trade With OctaFX and FP Markets?