FlowBank vs Octa 2024

FlowBank operates a regulated Swiss bank, and is authorised by one Tier-1 regulator (high trust): the Swiss Financial Market Supervisory Authority (FINMA).

Octa is not publicly traded and does not operate a bank. OctaFX is authorised by one Tier-1 regulator (high trust), one Tier-2 regulator (average trust), zero Tier-3 regulators (low trust), and zero Tier-4 regulators (High Risk). Octa is authorised by the following Tier-1 regulators: Regulated in the European Union via the MiFID passporting system.

As a relative newcomer to the Swiss online brokerage scene, FlowBank already has a lot to offer its customers. FlowBank clients benefit from the advantages that come with holding a Swiss bank account, and its brokerage services provide access to more advertised symbols than any online broker that we’ve reviewed thus far.

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

To open a trading account with FlowBank, you'll need to make an initial minimum deposit of $0.

Octa requires a minimum deposit of $25 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. FlowBank offers Visa/Mastercard (Credit/Debit) and Bank Wire (Deposit/Withdraw) for banking, whereas Octa provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Octa offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Both FlowBank and Octa hold 1 global Tier-1 licenses. Octa holds 1 global Tier-2 licenses, while FlowBank holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that FlowBank (80) earned a higher Trust Score than Octa (70).

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

Here’s what trading platforms are available at FlowBank:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

Here’s what trading platforms are available at Octa:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both FlowBank and Octa offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. FlowBank and Octa both offer copy trading.

FlowBank provides traders 52 currency pairs (e.g., EUR/USD) compared to Octa's 35 available pairs. If you are interested in trading CFDs, FlowBank offers traders access to 408600 CFDs, while Octa offers access to 230 CFDs; so FlowBank offers 408370 more CFDs than Octa.

We found in our testing that FlowBank offers a more diverse selection of investment options than Octa, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Cryptocurrency (Physical) and Spread Betting.