Octa vs Avatrade Comparison

Compare Octa and AvaTrade: features, fees, platforms, and asset selection. Discover which broker best suits your trading style, from beginners to advanced traders.

Choosing the right Forex and CFD broker is a critical decision for any trader. In this review, we compare Octa (formerly OctaFX) and AvaTrade, two well-established brokers in the industry, focusing on their key features, fees, platforms, and user experience. This comparison will help you decide which broker aligns best with your trading needs.

Overview of Octa and AvaTrade

Octa was founded in 2011 and is known for its user-friendly platform, competitive spreads, and excellent copy trading features. It is popular among beginner traders, offering a low minimum deposit and a variety of trading bonuses.

AvaTrade, established in 2006, has a longer track record and provides a broader range of assets, including Forex, stocks, commodities, and bonds. AvaTrade caters to more advanced traders with a wide selection of trading tools and educational resources.

Trading Platforms

Both brokers offer a variety of trading platforms, making them suitable for traders with different preferences.

Octa:

• Supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), along with its proprietary OctaTrader platform.
• Ideal for copy trading through its mobile app, which is popular among novice traders.

AvaTrade:

• Offers MT4, MT5, and its proprietary AvaTradeGo platform.
• Also includes AvaOptions for options trading, providing more diversity in trading strategies compared to Octa.

Platform Comparison

Trading Costs and Fees

When it comes to trading fees, both brokers have competitive pricing but with key differences in their fee structures.

Octa:

• EUR/USD spread starts from 0.7 pips in the standard account.
• No commissions on trades, which is ideal for commission-free trading enthusiasts.
• No inactivity fee, making it more suitable for occasional traders.

AvaTrade:

• EUR/USD spread starts from 0.9 pips, with no additional commissions.
• $50 inactivity fee after three months, which might deter less active traders.
• Offers commission-free trading across most asset classes but applies a wide range of asset types, from Forex to bonds.

Fee Comparison

Asset Selection

In terms of asset variety, AvaTrade offers a broader range of instruments compared to Octa, making it more attractive for traders looking to diversify across multiple markets.

Octa:

• Offers 52 currency pairs, 34 cryptocurrencies, 10 indices, and CFDs on metals and energies.
• Best suited for traders focused on high liquidity assets like Forex and cryptocurrencies.

AvaTrade:

• Offers over 1,000 instruments, including Forex, stocks, commodities, indices, ETFs, and bonds.
• Ideal for traders looking for a more diverse portfolio, including CFD trading on stocks and ETFs.

Asset Selection1

Deposit and Withdrawal Options

Octa:

• Offers cryptocurrency withdrawals, which is a plus for traders dealing with digital currencies.
• Supports debit/credit cards and e-wallets like Skrill and Neteller.

AvaTrade:

• Provides bank transfer, debit/credit card, and e-wallets but does not support cryptocurrency as a payment method.

Deposit and Withdrawal Comparison

Educational and Research Tools

Octa:

• Provides educational resources, including webinars, articles, and videos.
• Lacks some advanced features like trading ideas, but offers demo accounts for beginners to practice.

AvaTrade:

• Comprehensive educational support with webinars, videos, tutorials, and trading ideas.
• Caters to more advanced traders with a robust learning center.

Support and Customer Service

Both brokers provide excellent customer support services with 24/5 availability via multiple channels.

Octa:

• Available through email, phone, and live chat, with social media support via Twitter, Telegram, and Facebook.

AvaTrade:

• Offers email, phone, and live chat support, with additional help available through a WhatsApp chatbot.

Conclusion – Which Broker is Right for You?

• Choose Octa if you are a beginner or casual trader looking for low deposit requirements, commission-free trading, and cryptocurrency payment options. It is especially strong for traders interested in copy trading and cryptocurrency trading.
• Choose AvaTrade if you are a more advanced trader who requires a broader asset selection, including stocks, ETFs, and bonds, and value a comprehensive educational and research suite.

FAQs

Here are the most frequently asked questions about Octa vs. AvaTrade.

Does AvaTrade offer cryptocurrency trading?

Yes, AvaTrade offers cryptocurrency CFDs, though it does not support crypto deposits or withdrawals.

Is Octa suitable for copy trading?

Yes, Octa excels in copy trading through its proprietary platform, making it ideal for beginners.

What is the minimum deposit for AvaTrade and Octa?

AvaTrade requires a $100 minimum deposit, while Octa has a lower $25 minimum deposit.