The majority of beginners in the field of forex trading have the biggest concerns regarding which forex broker to choose to start their forex trading career. Most of the new investors know that to start with forex trading you need to choose a forex broker that will offer access to the forex market as well as provide other online trading services and tools to invest and earn. For that reason, we have compared Graphene FX and OctaFX who are two of the most popular forex brokers right now, so that it is easier for forex traders to see their attributes side by side and make their choice.
Here are some points based on which we have compared these brokers:
Graphene FX is regulated by the National Futures Association (NFA) that proves its authenticity and reliability. Furthermore, they offer balance protection and 99% of the trades are executed in a second at Graphene FX. Moreover, their money transfer process is done in an instant making their clients satisfied with their fast and smooth services.
Octa FX also offers negative balance protection and has taken serious steps to ensure the safety of clients’ money by offering segregated accounts, SSL-secured personal area, account verification, 3D secure visa authorization, and secure withdrawal rules. Octa FX claims to work in complete compliance with international legislation and regulation standards.
Spreads and other charges:
Both brokers have highly market-competitive prices. Their charges vary and depend on the different types of accounts and other factors.
For a standard account at Graphene FX the spreads are 0.1 pips, the minimum deposit is $100, and have no other charges like withdrawals, commissions, inactivity, or deposit fee. They also offer a 20% deposit bonus and have an Islamic account feature for all its account types.
The charges for Octa FX include commissions, spreads fee at 0.6 pips, a minimum deposit of $25, and no withdrawal or deposit fee. They also offer a deposit bonus of 50% and have an Islamic account option available.
A similarity both forex brokers have is the offered trading platforms. Graphene FX and Octa FX provide multiple trading tools and features on MT4 and MT5 platforms. All the features available are almost similar by both brokers however, Octa FX offers an additional feature that is copy trading on their platform as well.
Trading instruments offered at Graphene FX are forex, stocks, indices, cryptocurrencies, commodities, and metals. On the other hand, Octa FX offers forex, index CFDs, commodities, and cryptocurrencies. In this aspect, both brokers are doing well by providing enough variety in trading assets for their customers.
In terms of educational content, Graphene FX has a wide range of mediums through which they help in customers’ skill growth such as free forex training programs, video tutorials, educational blogs, analyses, updates, news, and an economic calendar.
Octa FX also provides webinars, a glossary, articles, videos, news, technical analysis, and an economic calendar for the development of their users’ skills.
Graphene FX provides 24/7 customer support via phone call, live chat, email, WhatsApp, and other social media apps. Octa FX can be contacted via live chat, email, and social media options. A major plus point for Graphene FX is that they provide assistance on call which is more convenient for their customers.
According to our conclusion Graphene FX has more credibility to their name and has the overall best trading charges along with all of their services which are also of a high standard. It is observed that Octa FX lacks some credibility and provides the bare minimum in terms of the services.