FBS
Regulated in your country FBS 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 FBS and OctaFX are best suited to, based on what each one actually offers in Australia.FBS is better than OctaFX for professional traders. OctaFX, on the other hand, is better for day traders, high-volume traders and swing traders. Scalpers, news traders and algo traders can choose either FBS or OctaFX.
| Overall score | FBS 75 -5 | OctaFX 80 Best |
|---|---|---|
| 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 FBS and the ones that supervise OctaFX.Only FBS is regulated in Australia, by ASIC. OctaFX holds no licence in Australia and is regulated by CySEC.
| Section score | FBS 100 Best | OctaFX 85 -15 |
|---|---|---|
| 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 FBS and OctaFX have in place to protect your money in Australia.FBS and OctaFX both offer segregated client funds and two-factor authentication.
| Section score | FBS 65 | OctaFX 65 |
|---|---|---|
| Company info | ||
| Is it publicly traded i | ||
| Is it a bank i | ||
| Year founded i | 2009 | 2011 |
| Parent company i | FBS Markets Inc | Octa Markets Incorporated |
| CEO i | Christos Kakourides | Pavel Prozorov |
| Money safety | ||
| Segregated client funds i | ||
| Two-factor authentication i | ||
| Investor compensation scheme i | ||
| Additional money insurance i | ||
| Partner bank i | N/A | N/A |
| Brand power | ||
| Number of customers worldwide i | 27,000,000 | 40,000,000 |
| Annual revenue i | ||
| Monthly website search traffic i | ||
Costs
What we compare A comparison of what it costs to trade with FBS and with OctaFX in Australia, both on each trade and on holding the account.OctaFX is better than FBS for costs, as OctaFX is cheaper on EUR/USD, at US$6 per lot (against FBS's US$9.5), charges lower Bitcoin CFD fees, at US$29 (against FBS's US$100), and does not charge US stock CFD fees (against FBS's US$14). Neither FBS nor OctaFX charges account maintenance fees or deposit fees.
| Section score | FBS 67 -18 | OctaFX 85 Best |
|---|---|---|
| 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 | US$6 | 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$9.5 | US$6 |
| S&P 500 fees (CFD) i | 1.5 points | 2 points |
| Gold fees (CFD) i | 0.23 points | 0.26 points |
| Bitcoin fees (CFD) i | US$100 | US$29 |
| US stocks fees (CFD) i | US$14 | Free |
| Fees on stocks | ||
| Stock fee type i | Percentage, Spread | Commission, Percentage, Spread |
| US stocks fees (real) i | US$30 | |
| ETF fees (real) i | ||
| 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 FBS and with OctaFX in Australia, and of how many instruments each one gives access to.FBS and OctaFX are close on available markets. Both FBS and OctaFX offer CFDs on commodities, crypto, forex, indices and stocks. OctaFX goes a step further, as it gives access to 270 tradable symbols (against FBS's 139).
| Section score | FBS 75 | OctaFX 75 |
|---|---|---|
| Total tradable symbols i | 139 | 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, Forex, Indices, Stocks | Commodities, Crypto, Forex, Indices, Stocks |
| Futures i | ||
| Options i | ||
| Assets you can own i |
Platform
What we compare A comparison of the trading platforms that FBS and OctaFX make available to their clients in Australia.OctaFX is better than FBS for platforms, given that OctaFX offers cTrader, MetaTrader 4 and social trading, which FBS does not. Both FBS and OctaFX offer MetaTrader 5 and one-click trading.
| Section score | FBS 57 -32 | OctaFX 89 Best |
|---|---|---|
| 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 FBS and OctaFX in Australia, and of what each one lets you do from your phone.OctaFX is better than FBS for mobile trading, as OctaFX offers the cTrader app, the MetaTrader 4 app and a social trading app, which FBS does not. Both FBS and OctaFX offer a proprietary mobile app and the MetaTrader 5 app.
| Section score | FBS 80 -20 | OctaFX 100 Best |
|---|---|---|
| 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 FBS and OctaFX allow on their platforms in Australia.OctaFX is better than FBS for trading features, because OctaFX executes orders faster, within 100 ms (against FBS's 400 ms), and offers trailing stops and tier-1 liquidity providers, which FBS does not. Both FBS and OctaFX offer negative balance protection and VPS hosting. 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).
| Section score | FBS 69 -14 | OctaFX 83 Best |
|---|---|---|
| Trade execution | ||
| Broker type i | Agency | NDD |
| Average execution time i | 400 ms | 100 ms |
| Slippage occurrence i | ||
| Requotes occurrence i | 0% | |
| 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$0 | 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 FBS and at OctaFX in Australia, and of who each one is meant for.OctaFX is better than FBS for account types, because OctaFX offers a managed account, an ECN account and an unlimited demo account, which FBS does not. Both FBS and OctaFX offer a demo account and an Islamic account.
| Section score | FBS 54 -18 | OctaFX 72 Best |
|---|---|---|
| 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 FBS and with OctaFX in Australia.OctaFX is better than FBS for account opening, as OctaFX requires a lower minimum deposit, at US$5 (against FBS's US$35), supports e-wallets, which FBS does not, and offers local payment methods, which FBS does not. Both FBS and OctaFX offer credit cards and debit cards. OctaFX holds no licence in Australia.
| Section score | FBS 62 -18 | OctaFX 80 Best |
|---|---|---|
| Minimum deposit i | US$35 | US$5 |
| Minimum withdrawal i | US$0 | US$0 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | Neteller, Skrill | |
| Local payment methods i | ||
| Account base currencies i | AUD, EUR, USD | EUR, USD |
| Deposit waiting time i | up to 2 business days | up to 3 business days |
| Withdrawal waiting time i | up to 2 business days | up to 3 business days |
| Bonus program i |
Customer care
What we compare A comparison of the customer support of FBS and OctaFX in Australia, in how it can be reached and how fast it answers.FBS is better than OctaFX for customer care, because FBS has a website in 15 languages (against OctaFX's 11), and offers a dedicated account manager and priority support, which OctaFX does not. FBS and OctaFX both offer phone support and live chat.
| Section score | FBS 80 Best | OctaFX 67 -13 |
|---|---|---|
| Number of languages supported i | 15 | 11 |
| Website languages i | Arabic, German, English, French, Indonesian, Italian, Korean, Malay, Portuguese, Spanish, Thai, Turkish, Urdu, Vietnamese, 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 FBS and OctaFX provide to their clients in Australia.FBS is better than OctaFX for learning, given that FBS offers daily market commentary, which OctaFX does not. Both FBS and OctaFX offer education for advanced traders and webinars.
| Section score | FBS 83 Best | OctaFX 75 -8 |
|---|---|---|
| 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 | ||
FBS vs OctaFX: which one should you choose?
FBS
CFD/FX Choose FBS if you want a CFD/forex broker regulated in Australia by ASIC, with cent accounts and fast deposits.
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 an online CFD broker with low trading costs, a small minimum deposit and cTrader 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 FBS or OctaFX, each scored with the same data and method as this page.
