Octa vs XM:Face-Off: A Detailed Comparison

The forex market thrives on competition, and choosing the right broker can make or break a trader‘s experience. Octa and XM are two well-known forex brokers that cater to traders worldwide, each with distinct strengths and weaknesses. This article provides a structured comparison of these two brokers across key categories—regulation, trading conditions, platforms, fees, and asset variety—to help traders and investors decide which aligns best with their goals. Let’s go.

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1. Regulation and Safety

• Octa: Octa operates under multiple entities with varying regulatory oversight. Its primary entity is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa and the Mwali International Services Authority (MISA) in the Comoros, both of which are considered lighter-tier regulators.

• XM: XM stands out with licenses from five global regulators, including ASIC, the Cyprus Securities and Exchange Commission (CySEC), and the Dubai Financial Services Authority (DFSA). EEA countries - Cyprus Securities and Exchange Commission (CySEC) and Rest of the world + EEA customers - Financial Services Commission of Belize (IFSC)

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2. Trading Conditions

• Octa: Known for tight spreads, Octa offers variable spreads starting at 0.6 pips on its commission-free accounts and 0.0 pips on its ECN-style accounts (with a $6 commission per lot). Leverage reaches up to 1:1000 for international clients, though its capped at 1:30 for EU-regulated accounts. Execution is market-based with a no-slippage claim on 97.5% of orders, making it attractive for scalpers.

• XM: XM‘s spreads begin at 0.6 pips on standard accounts and 0.1 pips on its Zero account (with a $5 commission per lot). Leverage peaks at 1:1000 for international clients, though it’s restricted to 1:30 under CySEC. XM emphasizes no requotes and fast execution, appealing to both beginners and active traders.

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3. Trading Platforms

• Octa: Octa supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and its proprietary OctaTrader platform. MT4/MT5 caters to advanced users with tools like Autochartist (volume-based access). No cTrader or other alternatives are available.

• XM: XM sticks to MT4 and MT5, enhanced with a web trader and mobile apps. It lacks a proprietary platform but compensates with upgraded MT4/MT5 features, including one-click trading and robust charting.

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4. Asset Variety

• Octa: Octa‘s selection is slim—35 forex pairs, 34 cryptocurrencies, 5 commodities, and 10 index CFDs. No stocks or ETFs are offered, limiting diversification. It’s forex-focused with a crypto twist.

• XM: XM shines with 55 forex pairs, 15 commodities, 28 index CFDs, and a whopping 1,243 equity CFDs, plus 100 direct shares. No cryptocurrencies are available as CFDs, but its equity focus is unmatched.

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5. Comparing Customer Support

• Octa: Octa provides 24/7 customer support, ensuring traders can reach out anytime, regardless of time zone. This round-the-clock availability is a big plus for active traders who operate across global markets.

• XM: XM also delivers 24/5 support, matching the forex market‘s typical schedule. Like Vantage, it doesn’t extend to weekends, which could be a drawback for traders needing assistance outside weekdays.

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