Compare forex brokers XM VS Octafx

If you're choosing between XM and Octafx forex brokers, we've compared hundreds of data points side-by-side to make finding the right broker for you easier. Is XM better than Octafx? After assessing the two forex brokers on nearly 50 different variables, we would be able to get into an informed conclusion.

XM VS OCTAFX

OctaFX
OctaFX Overview

At onlineforextrading.net we have readers-first policy. Thus, we always put our readers' safety as a priority in our business line. We will never just satisfy ourselves with Brokers' public information, however, go in-depth. Often we will also open live and demo accounts and test brokers directly! For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography and reputation. The very same standards apply in case of this OctaFX broker review.

OctaFX is recognised globally for offering the lowest spreads in the industry and prides itself on its award-winning trading conditions. OctaFX is an excellent provider of CFD and Forex trading to clients in over 100 countries.

XM
XM Overview

At onlineforextrading.net we have readers-first policy. Thus, we always put our readers' safety as a priority in our business line. We will never just satisfy ourselves with Brokers' public information, however, go in-depth. Often we will also open live and demo accounts and test brokers directly! For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography and reputation. The very same standards apply in case of this XM broker review.

XM.COM is a trading name of Trading Point Holdings Ltd, which wholly owns Trading Point of Financial Instruments Ltd (Cyprus) and Trading Point of Financial Instruments Pty Ltd. (Australia). Our clients benefit from direct access to the financial markets in over 300 financial instruments including forex, equity indices, precious metals, cryptocurrencies and energies, with transparent real-time pricing, lowest spreads, and flexible leverage.

# Broker's Features XM Availability OCTAFX Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare XM vs Octafx.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. XM offers Online Financial Trading and Investment Services Such as Forex, CFD, bitcoin, stocks, indices, commodities,, while Octafx offers Gold, Silver, Crypto, Indices.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. XM is Broker, while Octafx is Broker.

Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. XM recommended minimum capital is 5, while Octafx has a Minimum Deposit Requirement of 5.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. XM is regulated by ASIC, CySEC, IFSC, while Octafx regulated by FCA UK. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Account currencies: Next lets consider the Account currencies each broker offers. XM offers EUR, USD, GBP, JPY, CHF, HUF, PLN, RUB, SGD, ZAR, different account currencies for each account types, while Octafx offers EUR, USD account currencies.

Languages Available: Next lets have a look at each broker's different Language options. XM offers Arabic, Chinese, English, French, German, Greek, I, while Octafx offers English, Indonesian, Chinese, Portuguese, Spanish, Customer Support Languages.

Payment methods: Next lets have a look at each broker's payment options. XM offers Credit Cards, Netteler, Skrill, Klarna, Przelewy 2 different payment methods for each account types, while Octafx offers Credit Cards, Wire Transfer, Skrill, FasaPay, Nete payment methods.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, XM makes Metatrader4/5, XM Webtrader available to clients, while Octafx offers Metatrader 4/5, MT4/5 Mobile for Android/iPhone, c.

The Verdict: XM or Octafx?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, XM is more reliable based on our criteria above. Regulations play a huge role in protecting the traders/investors interest as they compel the financial service providers such as forex brokers to act in a fair and ethical manner. XM broker is regulated in more major hubs. XM offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged. Customer service in your national language might not be a major concern for traders based in English-speaking countries, but it is a defining requirement for traders from other regions such as Asia and South America. XM has a wider range of languages in which customer service is offered making the broker more accessible.

Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.