image EasyMarkets VISIT EASYMARKETS image OctaFX VISIT OCTAFX image City Index VISIT CITY INDEX
About

EasyMarkets is regulated by ASIC, CySEC, AFN. EasyMarkets have provided Forex trading services since 2001.

OctaFX is regulated by Financial Conduct Authority soon. OctaFX have provided Forex trading services since 2011.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 15 years in business
  • Yes Segregates clients funds
  • Yes Regulated by CySEC and ASIC
  • Yes Over 7 years in business
  • Yes
  • Yes
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters Limassol, Cyprus London, UK London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No Yes
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 135 84
Commodities Offered 0 26
Stocks Offered 0 4500
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No No Yes
Penny stocks No No Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes Yes Yes
Dow Jones No Yes Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs No No Yes
IPO No No No
See all instruments

83% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

83% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

83% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No Yes No
MT4 Mac No No No
WebTrader Yes Yes Yes
Mirror Trader No No No
ZuluTrade No No No
Sirix No No No
cTrader No Yes No
PAMM No No Yes
Custom Platforms easyMarkets No AT Pro, Advantage Web

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No Yes
Available Languages

English, German, Arabic, Greek, Russian, Chinese, Spanish, French, Polish, and Hebrew

English

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

83% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

Losses can exceed deposits

See platform & features

72% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by EasyMarkets and OctaFX

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account Yes Yes Yes
Standard account Yes Yes Yes
ECN Account No No No
Islamic account Yes Yes No
Zero spread account No Yes No
VIP account Yes No Yes
Fixed spreads Yes No Yes
Variable spreads No Yes Yes
See account options

83% of retail investor accounts lose money when trading CFDs with this provider.

See account options

Losses can exceed deposits

See account options

72% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes No
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No No No
Direct market access No No No
STP broker No Yes Yes
Market maker Yes Yes Yes
Min trade Varies 0.01 Lot 1 Lot
Max trade Varies 10 Lot Varies
Min deposit $1 $5 $25

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes No Yes
Price alerts Yes Yes Yes
Signal trading No No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No No
Neteller Yes Yes No
Skrill No No No
Payment processing time 1-5 business days Varies 2-3 business days
Withdrawal processing time 1-5 business days Varies 2-3 business days
See all funding options

83% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

Losses can exceed deposits

See all funding options

72% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US US US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
Phone number 357 25 828 899 44 20 3322 1059 0845 355 0801
Live Chat Yes No Yes
Website http://www.easy-forex.com/ https://www.octafx.co.uk/ www.cityindex.co.uk
Spreads:
EUR/USD (Average: 0.7 pips) 1.8 pips 0.4 pips + $0.00 0.5 pips
GBP/USD (Average: 1.1 pips) 3.3 pips 0.5 pips + $0.00 0.5 pips
USD/JPY (Average: 1.1 pips) 3.0 pips 0.4 pips + $0.00 1.6 pips
AUD/USD (Average: 0.8 pips) 2.6 pips 0.6 pips + $0.00 0.5 pips
USD/CHF (Average: 2.3 pips) 2.6 pips 0.4 pips + $0.00 1.6 pips
USD/CAD (Average: 2.9 pips) 3.3 pips 0.6 pips + $0.00 0.5 pips
NZD/USD (Average: 3.6 pips) 9.0 pips 0.8 pips + $0.00 2.3 pips
EUR/GBP (Average: 2.4 pips) 3.0 pips 0.6 pips + $0.00 0.5 pips
View all spreads

83% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

Losses can exceed deposits

View all spreads

72% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee No No Yes
Commission No No 0.0015
Deposit Fee No No Varies
Withdrawal Fee No No Varies
View All Fees

83% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

Losses can exceed deposits

View All Fees

72% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from http://www.easy-forex.com/. Last updated on 01/07/2019.

All information collected from https://www.octafx.co.uk/. Last updated on 01/07/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/07/2019.

Company

Easy-Forex is broker you can trust regulated by multiple authorities including CySEC and with over 12 years experience in the industry. Easy-Forex provide an Account Service Manager for new users who will provide you with one on one training. They have easy to understand transparent pricing with fixed spreads and no commissions on deposits or withdrawals. If you want to open an account with them they have a simple 2 step sign up process making opening an account with them a breeze.

For more information about trading with EasyMarkets, we have put together an indepth EasyMarkets review with some of the pros and cons about this broker.

OctaFX is an online forex trading service provider who are regulated by the Financial Conduct Authority. To open an account with OctaFX, minimum deposits start from $5.

With OctaFX you can trade Forex. If you like to trade on the go, OctaFX have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

OctaFX offer MetaTrader 4, Metatrader 4 for PC, Metatrader 4 for iOS, Metatrader 4 for Android, cTrader, cT Desktop, cT iOS, cT Android, cT Web-based client platforms to make your trades and support 7 different languages.

The spreads offered by OctaFX for the most popular instruments are:
0.6 EUR/USD, n/a FTSE 100, 4.5 GOLD,
0.6 GBP/USD, n/a DOW/JONES, n/a Crude Oil,
see all the spreads here.



For more information about trading with OctaFX, we have put together an indepth OctaFX review with all the pros and cons about this broker.

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including indices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

For more information about trading with City Index, we have put together an indepth City Index review with some of the pros and cons about this broker.

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EasyMarkets or OctaFX?

A wide range of instruments or low spreads?

If you’re a trader looking for a broker that offers a wide variety of instruments to trade, EasyMarkets is likely the better option out of these brokers. However, if you want a broker with lower spreads on currency pairs like EUR/USD, OctaFX may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider EasyMarkets and OctaFX to be equally reliable. We’ve broken down why below:

Who are they regulated by?

EasyMarkets is regulated by CySEC and ASIC, while OctaFX is regulated by FSA.

City Index are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

EasyMarkets has been around for 16 years, while OctaFX have been around for 8 years. Our third alternative broker, City Index, have been around for 36 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both EasyMarkets and OctaFX use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

OctaFX is more popular with over 300,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both EasyMarkets and OctaFX are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

EasyMarkets are based in Limassol, Cyprus, while OctaFX are based in London, UK .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both EasyMarkets and OctaFX offer forex trading. EasyMarkets have a slightly larger variety of currency pairs with 135 pairs, compared to offered by OctaFX. Also, if you’re looking to trade cryptocurrencies, EasyMarkets offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

If you’re looking to trade commodities like gold, silver or oil, EasyMarkets may be a better fit as OctaFX does not offer commodity trading.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both EasyMarkets and OctaFX offer this. OctaFX also offer the new & improved MT5 platform. Our alternative broker, City Index, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. EasyMarkets, for example, offer a mini account, standard account and VIP account.

For Muslim traders, EasyMarkets offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

EasyMarkets does allow scalping and hedging. While OctaFX also allows scalping and hedging. You can trade with EAs (expert advisors) on both EasyMarkets and OctaFX.

In terms of risk management tools, EasyMarkets does offer negative balance protection to prevent you owing your broker more than you’ve deposited, but OctaFX doesn't offer this.

EasyMarkets also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

EasyMarkets accept Neteller while OctaFX accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, EasyMarkets charges 1.80 points, while OctaFX charges points. Therefore, OctaFX is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: EasyMarkets or OctaFX?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, OctaFX is more reliable based on our criteria above. EasyMarkets has a wider range of instruments to trade. EasyMarkets offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.