Updated September 29, 2026 · BrokerCue Editorial Team
LMAX Exchange vs Octa
LMAX Exchange vs Octa: the differences
| Compare |  LMAX Exchange |  Octa |
|---|---|---|
| Minimum deposit | $1,000 | $25Lower |
| Markets | Forex, CFDs, Crypto | Forex, CFDs, Crypto, MetalsCovers more |
| Regulators | FCA, CySECCovers more | CySEC |
| Investor protection | FSCS up to GBP 85,000 | EU ICS up to EUR 20,000 |
| Retail accounts that lose money | 67.64% | 66% |
| Platforms | LMAX Global, MetaTrader4 | MT4, MT5, OctaTrader, CTrader |
| Stock trade fee | Not confirmed | $0 |
| Inactivity fee | Not confirmed | $0 |
| EUR/USD spread | Not confirmed | 0.9% |
| Maximum retail leverage | Not confirmed | 1:30 |
Same on both: Deposit and withdrawal fees (No deposit or withdrawal fees).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings.
Key differences
- Octa scores higher overall: 9.0 vs 8.8.
- Regulators: only LMAX Exchange offers FCA.
- Founded is lower at LMAX Exchange: 2010 vs 2011.
- LMAX Exchange is licensed in 1 more country.
- Minimum deposit is lower at Octa: $25 vs $1,000.
- Markets: only Octa offers Metals.
- Platforms: only LMAX Exchange offers LMAX Global, MetaTrader4.
- Platforms: only Octa offers MT4, MT5, OctaTrader.
Our verdict on each
LMAX Exchange
LMAX Exchange suits experienced traders who want a regulated exchange rather than a casual platform. Fees on moving money are nil, and FSCS up to GBP 85,000 covers eligible claims, but the $1,000 entry requirement is high for a first account.
Octa
Octa suits traders who want a regulated EU broker with a small entry amount and no account costs. It pairs a minimum deposit of $25 with a stock trade fee of $0 and an inactivity fee of $0, backed by CySEC and EU investor compensation.
Score breakdown
| Area | LMAX Exchange | Octa |
|---|---|---|
| Cost | 8.2Minimum deposit of $1,000 sits well above the $0 entry point, though No deposit or withdrawal fees adds nothing on funding. | 9.1HigherFees of $0 on shares, $0 inactivity charge and No deposit or withdrawal fees, against a minimum deposit of $25. |
| Offer | 8.9 | 9.4Higher |
| Trust | 9.2Higher | 8.8 |
Feature by feature
| Markets | LMAX Exchange | Octa |
|---|---|---|
| Forex | Yes | Yes |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
| Metals | No | Yes |
How they place
| Ranking | LMAX Exchange | Octa |
|---|---|---|
| Forex brokers | 77 of 147 | 64 of 147 |
| Low-spread forex brokers | 75 of 145 | 62 of 145 |
| CFD brokers | 65 of 122 | 54 of 122 |
Every fact side by side
| Fact | LMAX Exchange | Octa |
|---|---|---|
| Features | Not confirmed | Crypto |
| Pricing model | Not confirmed | Commission free |
| Audience | Experienced | Not confirmed |
| Legal entity | Not confirmed | Octa Markets Cyprus Ltd |
| Headquarters | United Kingdom | Not confirmed |
| Founded | 2010Lower | 2011 |
| Support channels | Phone, Chat | Not confirmed |
Where each stands against the rest
| Fact | LMAX Exchange | Octa | Median |
|---|---|---|---|
| Minimum deposit | $1,000highest quarter | $25at the median | $25 |
| Stock trade fee | Not confirmed | $0at the median | $0 |
| Inactivity fee | Not confirmed | $0at the median | $0 |
| Retail accounts that lose money | 67.64%below the median | 66%lowest quarter | 72.05% |
| EUR/USD spread | Not confirmed | 0.9%above the median | 0.65% |
Median across 134 listed brokers.
Pros and cons
LMAX Exchange
Pros
- No deposit or withdrawal fees, so funding an account costs nothing to arrange
- Regulated by the FCA in GB and CySEC in Cyprus, with FSCS up to GBP 85,000 behind eligible claims
- Trades on forex, cfds and crypto through the LMAX Global platform or MetaTrader4
Cons
- The $1,000 minimum is well above the $0 entry point
- forex, cfds and crypto covers forex, cfds and crypto only, so it suits active traders rather than investors
- Support runs on phone and chat only
Octa
Pros
- No stock trade fee, at $0, while the broker operates a commission free model
- Inactivity fee of $0, so dormant balances are not drained
- Deposit and withdrawal charges are clear: No deposit or withdrawal fees
Cons
- Minimum deposit of $25 is above the site median of €4.64
- EUR/USD spread of 0.9% sits in commission free pricing, so cost is built into the spread
- Retail accounts that lose money sit at 66%
Who each suits
LMAX Exchange
Who it suits
- Experienced traders who already know the markets listed
- Anyone who values a regulated exchange structure over a low starting deposit
- Traders who want phone and chat access for account questions
Who should look elsewhere
- First time traders, who face a high entry point compared with CFI at $0
- Share buyers, since forex, cfds and crypto does not include stocks and eToro covers stocks, etfs and forex
- Traders wanting crypto only, because Vantage opens at $5
Octa
Who it suits
- Traders who want a CySEC regulated EU broker and value compensation cover
- Forex and CFD traders who prefer commission free pricing in the spread
- Anyone who wants to fund an account without deposit or withdrawal charges
Who should look elsewhere
- CFI, whose minimum deposit of $0 is lower than Octa's
- eToro, whose markets list of stocks, etfs and forex includes shares and ETFs that Octa does not cover
Questions about each
LMAX Exchange
What is the minimum deposit at LMAX Exchange?+
The minimum deposit is $1,000. That sits far above the $0 entry point at CFI, so traders building a first balance should check the amount they can commit before opening.
Are there fees for depositing or withdrawing?+
No. No deposit or withdrawal fees means funding and pulling money out does not cost an extra charge. That keeps the cost of running an account to the trading side rather than the cash movements.
Octa
How much does Octa charge to open and use an account?+
The stock trade fee is $0 and the inactivity fee is $0, so holding an open position costs nothing extra. Octa runs a commission free model, which means the trading cost sits in the spread rather than in a separate commission. Funding in and out carries No deposit or withdrawal fees.
Who regulates Octa and what protection does it carry?+
Octa is regulated by CySEC in Cyprus, and the contracting entity is Octa Markets Cyprus Ltd. Client money is covered by the EU investor compensation scheme, and the stated limit is EU ICS up to EUR 20,000. Read the cover as a cap: it marks the point above which a claim falls outside the scheme.