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ThinkMarkets vs OctaFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is ThinkMarkets better than OctaFX? In our analysis of 23 international regulators across 62 of the best forex brokers, ThinkMarkets is considered average-risk, with an overall Trust Score of 86 out of 99. OctaFX is considered high-risk, with an overall Trust Score of 69 out of 99. Learn more about Trust Score.

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Overall RatingThinkMarketsOctaFX
Overall Rating 4/5 Stars 4/5 Stars
Commissions & Fees 3.5/5 Stars 4/5 Stars
Offering of Investments 4/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 3/5 Stars 4/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score 86 69
Winner check_circle
Review OctaFX Review
RegulationThinkMarketsOctaFX
Trust Score 86 69
Year Founded 2010 2011
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 2 0
Tier-2 Licenses 2 2
Tier-3 Licenses 0 0
Tier-1 Licenses (High Trust)ThinkMarketsOctaFX
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) Yes No
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)ThinkMarketsOctaFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) Yes Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) Yes Yes
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No No
Tier-3 Licenses (Low Trust)ThinkMarketsOctaFX
SCB Authorised (Bahamas) No No
FSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsThinkMarketsOctaFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 1674 229
Forex Pairs (Total) 46 40
U.S. Stock Trading (Non CFD) No No
Int'l Stock Trading (Non CFD) No No
Social Trading / Copy Trading Yes Yes
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).
CostThinkMarketsOctaFX
Average Spread EUR/USD - Standard N/A info 0.9 info
All-in Cost EUR/USD - Active N/A info N/A
Active Trader or VIP Discounts Yes No
Execution: Agency Broker Yes Yes
Execution: Market Maker Yes Yes
FundingThinkMarketsOctaFX
Minimum Deposit $250.00 $25
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsThinkMarketsOctaFX
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
Social Trading / Copy Trading Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes Yes
cTrader No No
DupliTrade No No
ZuluTrade Yes No
Trading Platforms Gallery (click to expand)
Trading ToolsThinkMarketsOctaFX
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 15 7
Charting - Indicators / Studies (Total) 30 30
Charting - Drawing Tools (Total) 15 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingThinkMarketsOctaFX
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing No No
Mobile Charting - Indicators / Studies 30 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave No Yes
Forex Calendar Yes Yes
Mobile Trading Gallery (click to expand)
ResearchThinkMarketsOctaFX
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist No Yes
Trading Central (Recognia) Yes No
Social Sentiment - Currency Pairs No No
Economic Calendar Yes Yes
Research Gallery (click to expand)
EducationThinkMarketsOctaFX
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos No Yes
Investor Dictionary (Glossary) Yes Yes
Education Gallery (click to expand)
Major Forex PairsThinkMarketsOctaFX
GBP/USD Yes Yes
USD/JPY Yes Yes
EUR/USD Yes Yes
USD/CHF Yes Yes
USD/CAD Yes Yes
NZD/USD Yes Yes
AUD/USD Yes Yes
Review OctaFX Review
OverallThinkMarketsOctaFX
Overall Rating 4/5 Stars 4/5 Stars
Commissions & Fees 3.5/5 Stars 4/5 Stars
Offering of Investments 4/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 3/5 Stars 4/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Trust Score 86 69
Winner check_circle
Review OctaFX Review
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ThinkMarkets vs OctaFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare ThinkMarkets vs OctaFX.

Does ThinkMarkets or OctaFX offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, OctaFX offers better pricing overall for traders.

Is ThinkMarkets or OctaFX safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. ThinkMarkets holds 2 global Tier-1 licenses, while OctaFX holds 0. Both ThinkMarkets and OctaFX hold 2 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, ThinkMarkets earned a higher Trust Score than OctaFX.

Which trading platform is better: ThinkMarkets or OctaFX?

To compare the trading platforms of both ThinkMarkets and OctaFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, OctaFX offers a better experience. With research, OctaFX offers superior market research. Finally, we found OctaFX to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both ThinkMarkets and OctaFX offer MetaTrader 4 (MT4).ThinkMarkets and OctaFX both offer copy trading.

How many forex pairs and CFDs are available to trade?

ThinkMarkets provides traders 46 currency pairs (e.g., EUR/USD) compared to OctaFX's 40 available pairs. Forex pairs aside, ThinkMarkets offers traders access to 1674 CFDs while OctaFX has 229 available CFDs, a difference of 1445.

Can I trust ThinkMarkets?

ThinkMarkets is not publicly traded and does not operate a bank. ThinkMarkets is authorised by three tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust). ThinkMarkets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), and the Financial Conduct Authority (FCA).

Can I trust OctaFX?

OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by zero tier-1 regulators (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust).

Is ThinkMarkets good?

ThinkMarkets has multiple regulatory license and offers a proprietary trading platform, as well as the entire MetaTrader suite. The broker has made progress in key areas, such as research and education, and the range of markets available, although trails behind the best brokers in these categories.

Is OctaFX good?

OctaFX offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.

Overall winner: ThinkMarkets

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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