Scores, winners and data below compare these brokers as CFD/FX brokers: leveraged trading on forex, indices, commodities and crypto. Scores, winners and data below compare these brokers as stock brokers: real shares and ETFs you own outright.
eToro
Regulated in your country eToro is allowed by ASIC to onboard clients residing in Australia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
OctaFX
Not regulated in your country OctaFX does not accept residents in Australia because it is not regulated by ASIC.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Best for
What we compare A comparison of the kinds of traders eToro and OctaFX are best suited to, based on what each one actually offers in Australia.eToro is better than OctaFX for long-term investors. OctaFX, on the other hand, is better for day traders and scalpers. High-volume traders, swing traders and news traders can choose either eToro or OctaFX.
| Overall score | eToro 81 83 | OctaFX 80 -1 not offered |
|---|---|---|
| Day trading i | ||
| Long-term investing i | ||
| Professional traders i | ||
| High-volume traders i | ||
| Scalpers i | ||
| Swing traders i | ||
| News traders i | ||
| Algo traders i | ||
| Stock traders i | ||
| Crypto traders i | ||
| Futures traders i | ||
| Options traders i |
Regulation
What we compare A comparison between the financial authorities that supervise eToro and the ones that supervise OctaFX.Only eToro is regulated in Australia, by ASIC. OctaFX holds no licence in Australia and is regulated by CySEC.
| Section score | eToro 100 Best 100 | OctaFX 85 -15 not offered |
|---|---|---|
| Tier-1 regulators | ||
| ESMA (European Union) i | ||
| FCA (United Kingdom) i | ||
| ASIC (Australia) i | ||
| CFTC (United States) i | ||
| NFA (United States) i | ||
| SEC (United States) i | ||
| CIRO (Canada) i | ||
| MAS (Singapore) i | ||
| SFC (Hong Kong) i | ||
| JFSA (Japan) i | ||
| FINMA (Switzerland) i | ||
| Tier-2 regulators | ||
| FMA (New Zealand) i | ||
| CBR (Russia) i | ||
| FSCA (South Africa) i | ||
| DFSA (Dubai) i | ||
| CSRC (China) i | ||
| ISA (Israel) i | ||
| LFSA (Malaysia) i | ||
| JSC (Jordan) i | ||
| CMA (Kenya) i | ||
| Tier-3 regulators | ||
| FSA (Seychelles) i | ||
| MMA (Maldives) i | ||
| SCB (Bahamas) i | ||
| FSC (Mauritius) i | ||
| VFSC (Vanuatu) i | ||
| FSC (Belize) i | ||
| CIMA (Cayman Islands) i | ||
| SV FSA (Saint Vincent and the Grenadines) i | ||
| FSRC (St. Kitts & Nevis) i | ||
| BMA (Bermuda) i | ||
| BVI FSC (British Virgin Islands) i | ||
| EDR (External Dispute Resolution) i | ||
Safety
What we compare A comparison of the tools and services that eToro and OctaFX have in place to protect your money in Australia.eToro and OctaFX both offer segregated client funds and two-factor authentication. eToro also offers additional money insurance.
| Section score | eToro 81 Best 81 | OctaFX 65 -16 not offered |
|---|---|---|
| Company info | ||
| Is it publicly traded i | ||
| Is it a bank i | ||
| Year founded i | 2007 | 2011 |
| Parent company i | eToro Group Ltd | Octa Markets Incorporated |
| CEO i | Yoni Assia | Pavel Prozorov |
| Money safety | ||
| Segregated client funds i | ||
| Two-factor authentication i | ||
| Investor compensation scheme i | ||
| Additional money insurance i | ||
| Partner bank i | Australian Settlements Limited | N/A |
| Brand power | ||
| Number of customers worldwide i | 4,280,000 | 40,000,000 |
| Annual revenue i | US$1,340,000,000 | |
| Monthly website search traffic i | 13.2M monthly visits | |
Costs
What we compare A comparison of what it costs to trade with eToro and with OctaFX in Australia, both on each trade and on holding the account.OctaFX is better than eToro for CFD/FX costs, since OctaFX is cheaper on EUR/USD, at US$6 per lot (against eToro's US$11.2), has tighter gold CFD spreads, at 0.26 points (against eToro's 0.88 points), and charges lower Bitcoin CFD fees, at US$29 (against eToro's US$1,585.8). Neither eToro nor OctaFX charges account maintenance fees or deposit fees.
OctaFX does not offer real stocks, being a CFD broker, so eToro and OctaFX cannot be compared for real stock costs.
| Section score | eToro 55 -30 76 | OctaFX 85 Best not offered |
|---|---|---|
| Broker fees | ||
| Deposit fees i | ||
| Withdrawal fees i | ||
| Overnight fees i | ||
| Inactivity fees i | ||
| Currency conversion fees i | ||
| Discounts on volume i | ||
| Real time market data fee i | ||
| Dividend withholding i | ||
| Account opening fees i | ||
| Account maintenance fee i | ||
| Portfolio management fee i | ||
| Fees on CFDs | ||
| Forex commission per lot i | Free | |
| EUR/USD average standard spread i | ||
| EUR/USD average raw spread i | ||
| EUR/USD average fixed spread i | ||
| EUR/USD total cost per lot i | US$11.2 | US$6 |
| S&P 500 fees (CFD) i | 1.08 points | 2 points |
| Gold fees (CFD) i | 0.88 points | 0.26 points |
| Bitcoin fees (CFD) i | US$1,585.8 | US$29 |
| US stocks fees (CFD) i | Free | |
| Fees on stocks | ||
| Stock fee type i | Commission | Commission, Percentage, Spread |
| US stocks fees (real) i | US$4 | US$30 |
| ETF fees (real) i | Free | |
| Management costs i | ||
| Connection costs i | ||
| Fees on futures | ||
| Futures fees per contract i | ||
| Platform fees i | ||
| Fees on options | ||
| Options fees per contract i | ||
| Event fees i | ||
| Fees on savings plans | ||
| IRA opening fee i | ||
| IRA maintenance fee i | ||
| 401k opening fee i | ||
| 401k maintenance fee i | ||
Available markets
What we compare A comparison of the markets and products you can trade with eToro and with OctaFX in Australia, and of how many instruments each one gives access to.eToro is better than OctaFX for CFD/FX markets, since eToro offers CFDs on ETFs, which OctaFX does not, gives access to 7,000 tradable symbols (against OctaFX's 270), and lets you own crypto, ETFs and stocks outright, which OctaFX does not. Both eToro and OctaFX offer CFDs on commodities, crypto, forex, indices and stocks.
OctaFX does not offer real stocks, being a CFD broker, so eToro and OctaFX cannot be compared for real stock markets.
| Section score | eToro 85 Best 55 | OctaFX 75 -10 not offered |
|---|---|---|
| Total tradable symbols i | 7,000 | 270 |
| Currency pairs i | ||
| Indices i | ||
| Commodities i | ||
| Stocks i | ||
| ETF i | ||
| Cryptocurrencies i | ||
| Bonds i | ||
| Interest rates i | ||
| Portfolios i | ||
| CFDs i | Commodities, Crypto, ETF, Forex, Indices, Stocks | Commodities, Crypto, Forex, Indices, Stocks |
| Futures i | ||
| Options i | ||
| Assets you can own i | Crypto, ETF, Stocks |
Platform
What we compare A comparison of the trading platforms that eToro and OctaFX make available to their clients in Australia.OctaFX is better than eToro for platforms, because OctaFX offers cTrader, MetaTrader 5 and MetaTrader 4, which eToro does not. Both eToro and OctaFX offer social trading and copy trading.
OctaFX does not offer real stocks, being a CFD broker, so eToro and OctaFX cannot be compared for platforms.
| Section score | eToro 84 -5 84 | OctaFX 89 Best not offered |
|---|---|---|
| Proprietary platform i | ||
| MetaTrader 4 i | ||
| MetaTrader 5 i | ||
| cTrader i | ||
| Social trading platform i | ||
| Copy trading platform i | ||
| ZuluTrade i | ||
| TradingView i | ||
| Duplitrade i | ||
| Mirror Trader i | ||
| NinjaTrader i | ||
| AutoChartist i | ||
| Real time pricing i | ||
| 5 digit pricing i | ||
| One-click trading i |
Mobile
What we compare A comparison of the mobile apps of eToro and OctaFX in Australia, and of what each one lets you do from your phone.OctaFX is better than eToro for mobile trading, given that OctaFX offers the cTrader app, the MetaTrader 5 app and the MetaTrader 4 app, which eToro does not. Both eToro and OctaFX offer a proprietary mobile app and a social trading app.
Only eToro can be assessed for mobile trading, since OctaFX is a CFD broker and does not offer real stocks.
| Section score | eToro 87 -13 87 | OctaFX 100 Best not offered |
|---|---|---|
| Proprietary app i | ||
| Social trading app i | ||
| Copy trading app i | ||
| MetaTrader 4 app i | ||
| MetaTrader 5 app i | ||
| cTrader app i | ||
| Mobile trading signals i | ||
| Mobile alerts i | ||
| Mobile charting tools i | ||
| Mobile drawing tools i | ||
| Mobile watchlist i | ||
| Smartwatch app i |
Trading features
What we compare A comparison of the trading tools and strategies that eToro and OctaFX allow on their platforms in Australia.OctaFX is better than eToro for CFD/FX trading features, as OctaFX offers tier-1 liquidity providers and VPS hosting, which eToro does not, and allows for scalping. eToro and OctaFX both offer negative balance protection and trailing stops. The leverage shown for OctaFX is set by its Saint Lucia entity and exceeds the retail limit in Australia (30:1 on major currency pairs).
eToro and OctaFX cannot be set side by side for real stock trading features, as OctaFX is a CFD broker and does not offer real stocks, unlike eToro.
| Section score | eToro 68 -15 85 | OctaFX 83 Best not offered |
|---|---|---|
| Trade execution | ||
| Broker type i | Agency | NDD |
| Average execution time i | 100 ms | |
| Slippage occurrence i | ||
| Requotes occurrence i | ||
| Tier-1 liquidity providers i | ||
| PFOF i | ||
| Leverage | ||
| Major FX pairs leverage i | 30:1 | 1000:1 |
| Minor/Exotic FX pairs leverage i | 20:1 | 1000:1 |
| Major indices leverage i | 20:1 | 400:1 |
| Minor indices leverage i | 10:1 | 400:1 |
| Gold leverage i | 20:1 | 1000:1 |
| Commodities leverage i | 10:1 | 400:1 |
| Equities leverage i | 5:1 | |
| Cryptocurrency leverage i | 2:1 | 200:1 |
| Risk management | ||
| Stop losses i | ||
| Take profits i | ||
| Limit orders i | ||
| Trailing stop i | ||
| Margin call i | ||
| OCO orders i | ||
| Guaranteed stop loss i | ||
| Negative balance protection i | ||
| Minimum trade size (FX) i | 0.01 lots | 0.01 lots |
| Minimum trade size (stocks) i | US$10 | US$0 |
| Fractional stocks i | ||
| Trading compliance | ||
| Scalping strategies allowed i | ||
| Hedging strategies allowed i | ||
| Automated trading strategy allowed i | ||
| EAs use allowed i | ||
| HFT strategy allowed i | ||
| VPS use allowed i | ||
| API use allowed i | ||
| Price scraping allowed i | ||
| FIFO rule applies i | ||
Account types
What we compare A comparison of the kinds of account you can open at eToro and at OctaFX in Australia, and of who each one is meant for.OctaFX is better than eToro for CFD/FX account types, given that OctaFX offers a managed account, an ECN account and an Islamic account, which eToro does not. eToro and OctaFX both offer a demo account and an unlimited demo account.
eToro and OctaFX cannot be compared for real stock account types, because eToro is a broker offering both CFDs and stocks while OctaFX is a CFD broker.
| Section score | eToro 45 -27 76 | OctaFX 72 Best not offered |
|---|---|---|
| Demo account i | ||
| Unlimited demo account i | ||
| Standard account i | ||
| Micro account i | ||
| Cent account i | ||
| Nano account i | ||
| Raw spread account i | ||
| ECN account i | ||
| Swap-free account i | ||
| Islamic account i | ||
| Professional traders account i | ||
| Fixed spread account i | ||
| Spread betting account i | ||
| Copy trading account i | ||
| Corporate account i | ||
| Managed account i | ||
| Stock investing account i | ||
| Margin investing account i | ||
| Savings account i | ||
| Retirement account i |
Account opening
What we compare A comparison of what it takes to open and fund an account with eToro and with OctaFX in Australia.OctaFX is better than eToro for account opening, since OctaFX requires a lower minimum deposit, at US$5 (against eToro's US$50), has no minimum withdrawal (against eToro's US$30), and pays out withdrawals faster, within 3 days (against eToro's 7 days). eToro and OctaFX both offer credit cards and debit cards. OctaFX holds no licence in Australia.
OctaFX does not offer real stocks, being a CFD broker, so eToro and OctaFX cannot be compared for account opening. OctaFX holds no licence in Australia.
| Section score | eToro 69 -11 69 | OctaFX 80 Best not offered |
|---|---|---|
| Minimum deposit i | US$50 | US$5 |
| Minimum withdrawal i | US$30 | US$0 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | PayPal, Neteller, Skrill | Neteller, Skrill |
| Local payment methods i | ||
| Account base currencies i | USD, AUD | EUR, USD |
| Deposit waiting time i | Instant | up to 3 business days |
| Withdrawal waiting time i | up to 7 business days | up to 3 business days |
| Bonus program i |
Customer care
What we compare A comparison of the customer support of eToro and OctaFX in Australia, in how it can be reached and how fast it answers.eToro is better than OctaFX for customer care, as eToro offers a dedicated account manager, priority support and call-back requests, which OctaFX does not. Both eToro and OctaFX offer phone support and live chat.
eToro and OctaFX cannot be set side by side for customer care, as OctaFX is a CFD broker and does not offer real stocks, unlike eToro.
| Section score | eToro 78 Best 78 | OctaFX 67 -11 not offered |
|---|---|---|
| Number of languages supported i | 7 | 11 |
| Website languages i | Arabic, German, English, French, Italian, Spanish, Chinese | Bangla, German, English, Indonesian, Malay, Portuguese, Spanish, Thai, Urdu, Vietnamese, Chinese |
| Website available in English i | ||
| Customer support languages i | English | Bangla, German, English, Indonesian, Malay, Portuguese, Spanish, Thai, Urdu, Vietnamese, Chinese |
| Customer support in English i | ||
| Call back request i | ||
| Email support i | ||
| Phone support i | ||
| Live chat i | ||
| Priority customer support i | ||
| Dedicated account manager i | ||
| Cash sweep i | ||
| Stock lending i | ||
| Distributes proceeds i | ||
| Tax withholding agent i | ||
| Tax assistance i |
Learning
What we compare A comparison of the educational material that eToro and OctaFX provide to their clients in Australia.eToro is better than OctaFX for learning, because eToro offers professional reports, daily market commentary and traders' sentiment, which OctaFX does not. Both eToro and OctaFX offer education for advanced traders and webinars.
OctaFX does not offer real stocks, being a CFD broker, so eToro and OctaFX cannot be compared for learning.
| Section score | eToro 96 Best 96 | OctaFX 75 -21 not offered |
|---|---|---|
| Education | ||
| Education center i | ||
| Education for beginners i | ||
| Education for advanced traders i | ||
| Webinars i | ||
| Tutorials i | ||
| Glossary i | ||
| Research | ||
| Economic calendar i | ||
| Traders' sentiment i | ||
| Daily market commentary i | ||
| Daily trading ideas i | ||
| News via social media i | ||
| Professional reports i | ||
| Watchlist i | ||
eToro vs OctaFX: which one should you choose?
eToro
CFD/FX Choose eToro if you want an online CFD broker regulated in Australia by ASIC, with a wide choice of markets.
Stocks Choose eToro if you want an online broker for stocks regulated in Australia by ASIC, with crypto to own.
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
OctaFX
CFD/FX Choose OctaFX if you want a CFD and forex broker with low trading costs and a small minimum deposit and live in a country where it is licensed to operate.
Not licensed in Australia CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.Other popular comparisons
Below are other head-to-head comparisons that include eToro or OctaFX, each scored with the same data and method as this page.
