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Title OctaFX vs eToro USA | Broker Comparison

OctaFX Broker Review
Rating
Take Me To Broker Read Full Review
Etoro Broker Review
Rating
Take me to Broker Read Full Review

Basic Information

Year Founded

First broker:

2011

Second broker:

2007

Headquarters Location

First broker:

St. Vincent & Grenadines

Second broker:

Cyprus, Israel, UK

Publicly Traded (Entity or Parent)

First broker:

YES

Second broker:

No

Regulated?

First broker:

YES

Second broker:

YES

Primary Regulator

First broker:

CySEC

Second broker:

CySEC

Minimum Deposit

First broker:

$5

Second broker:

$50

Fixed Spreads?

First broker:

YES

Second broker:

NO

Trading Type

First broker:

ECN, STP

Second broker:

Market Maker, NDD, STP

Commissions on Trades

First broker:

NO

Second broker:

YES

CFD Loss Rate

First broker:

73% loss rate on CFDs

Second broker:

76% loss rate on CFDs

Maximum Leverage

First broker:

1:500

Second broker:

1:1

Currency Pairs Offered

First broker:

28

Second broker:

47

General Average Rating - 3 scale

First broker:

2,10

Second broker:

1,68

Background

Value

Score

Value

Score

Year Founded

First broker:

2011

2,5

Second broker:

2007

3,0

Headquarters location + Offices

First broker:

St. Vincent & Grenadines

1,5

Second broker:

Cyprus, Israel, UK

2,0

Publicly traded?

First broker:

No

1,5

Second broker:

Private

1,5

Size Measure

First broker:

100 countries, 300,000 accts

2,0

Second broker:

Over 5 million accts

3,0

Summary Score

First broker:

1,88

Second broker:

2,38

Regulatory Compliance

Value

Score

Value

Score

Regulated or unregulated?

First broker:

YES

3,0

Second broker:

YES

3,0

Primary regulator

First broker:

CySEC

2,0

Second broker:

CySEC

2,0

Multiple compliance

First broker:

St. Vincent

2,0

Second broker:

FCA, ASIC, ESMA

3,0

Safety of Deposits

First broker:

Safe if EU, segregated accts

2,0

Second broker:

Offshore, No crypto protect

1,5

Summary Score

First broker:

2,25

Second broker:

2,38

Fees & Charges

Value

Score

Value

Score

Commissions, Fees & Charges

First broker:

Low fees and spreads

2,5

Second broker:

Spreads can widen

1,5

General

First broker:

Spreads vary by acct type

2,0

Second broker:

Overnight and weekend apply

1,5

Spreads

First broker:

Very competitive

2,0

Second broker:

High on average

1,5

Summary Score

First broker:

2,33

Second broker:

1,33

Investment Products

Value

Score

Value

Score

Stocks - Breadth

First broker:

Average to low

1,0

Second broker:

Medium

1,5

Forex - Breadth

First broker:

Below Average - 28 pairs

2,0

Second broker:

47 pairs

2,5

Other: Comm, Crypto, Spread, CFD?

First broker:

Comm, Crypto, CFD

2,0

Second broker:

Primary CFD, cryptos

2,0

Summary Score

First broker:

1,67

Second broker:

2,0

Platform experience

Value

Score

Value

Score

MT4 or equivalant

First broker:

MT4

3,0

Second broker:

None, only proprietary

1,0

Proprietary options

First broker:

cTrader to access Interbank

2,5

Second broker:

Single platform

1,5

Special Advanced?

First broker:

MT5 for other markets

2,0

Second broker:

No streaming news

1,0

Summary Score

First broker:

2,50

Second broker:

1,17

Special Features

Value

Score

Value

Score

Feature A

First broker:

STP ECN connected

2,5

Second broker:

Heavy focus on social trading

2,5

Feature B

First broker:

Copy trading

2,5

Second broker:

No volume discounts

1,5

Feature C

First broker:

Low slippage rates

2,0

Second broker:

Loss protect only at high level

1,0

Summary Score

First broker:

2,33

Second broker:

1,67

Research Tools/Guidance

Value

Score

Value

Score

Financial Commentary

First broker:

Daily forecast

2,5

Second broker:

Minimal

1,0

Technical Anlaysis

First broker:

Occasional in commentary

2,5

Second broker:

Minimal

1,0

Other Guidance

First broker:

Basic tools

2,0

Second broker:

Social Trading

2,5

Summary Score

First broker:

2,17

Second broker:

1,50

Education Support

Value

Score

Value

Score

Basic Library

First broker:

Average

2,0

Second broker:

Basic Minimal

1,0

Webinars/Support

First broker:

Videos, manuals

2,0

Second broker:

Some access

1,5

General

First broker:

73% loss rate on CFDs

1,5

Second broker:

76% loss rate on CFDs

1,5

Summary Score

First broker:

1,83

Second broker:

1,33

Customer Support

Value

Score

Value

Score

Live Chat, Web, Tele, Offices

First broker:

YES

3,0

Second broker:

No Live Chat, ticket system

1,0

Responsiveness

First broker:

96% customer satisfaction

2,5

Second broker:

Average

1,5

FAQs? Quality?

First broker:

Below Average

1,5

Second broker:

Sufficient

2,0

Summary Score

First broker:

2,33

Second broker:

1,50

General Pros & Cons

Value

Score

Value

Score

Pro #1

First broker:

STP ECN broker, NDD

2,5

Second broker:

Pioneer in social trading

2,5

Pro #2

First broker:

Received many awards

2,5

Second broker:

Good charting tools

2,0

Pro #3

First broker:

Low fees

2,5

Second broker:

Broad crypto coverage

2,0

Con #1

First broker:

Poor asset coverage

1,0

Second broker:

Poor education area

1,0

Con #2

First broker:

cTrader platform limited

1,0

Second broker:

Poor cust service access

1,0

Con #3

First broker:

Security needs upgrade

1,0

Second broker:

Designed for low skill traders

1,0

Summary Score

First broker:

1,75

Second broker:

1,58

General Average Rating - 3 scale

General Average Rating - 3 scale

First broker:

2,10

Second broker:

1,68

Broker links

First broker: Take Me To Broker Read Full Review
Second broker: Take me to Broker Read Full Review

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