Octa is an excellent low-cost broker, but it has a few drawbacks. On the one hand, it has very low trading costs, charges no fees for deposits and withdrawals, and offers an excellent copy trading service — though this is not available on iOS mobile devices. On the other hand, Octa onboards Filipino traders through its Comoros Union-based entity, which has few regulatory protections. The range of instruments available to trade is also slightly limited compared to other brokers, with 52 Forex pairs, 5 commodities, 10 indices, 150 equities, and 34 cryptocurrencies. Looking past these issues, you will find an excellent low-cost broker: Octa offers three swap-free accounts with minimum deposits of 20 USD, a slick mobile app, and a good range of trading tools. It also heavily promotes its wide range of bonuses and can offer leverage of 1:1000 on Forex pairs. Finally, customer support is available 24/7. 

Founded in 2001, easyMarkets was the first Forex broker to introduce negative balance protection and a guaranteed stop-loss. It has continued to innovate with unique tools such as easyTrade, Freeze Rate, and dealCancellation to help traders manage their risk. The main draw for beginner traders is easyMarkets’ well-designed trading platform, which integrates with TradingView and comes with all the tools mentioned above. easyMarkets’ also offers the MT4 and MT5 platforms, providing traders with ample choice.  easyMarkets offers seven live accounts with higher-than-average minimum deposits and trading costs that vary between 0.7 and 1.8 pips (EUR/USD), which is high for the industry. However, traders will appreciate the fact that easyMarkets offers fixed spreads on most of its accounts, making it easy to calculate its trading costs.   Other than its trading costs, the only other drawback we found with easyMarkets is the lack of focus on more experienced traders. While easyMarkets provides good educational materials, it provides no advanced trading tools and virtually no market analysis. 

Fx-Tanzania does NOT recommend IQ Option due to insufficient regulation. IQ Option appeals to beginners with its unique social trading platform, low minimum deposits, and low trading costs. However, IQ option's non-trading fees are high, and its global entity is unregulated.  IQ Option offers one live commission-free account with competitive spreads (starting at [fxs-broker-property identifier="eur_usd_spread_smallest_account"] pips on the EUR/USD) and a minimum deposit of only [fxs-broker-property identifier="deposit"] [fxs-broker-property identifier="currency"].  However, while deposits are free, IQ Option charges unreasonably high withdrawal fees and an inactivity fee of 10 EUR (or equivalent) per month after 90 days of inactivity.   IQ Option's global entity is registered in Saint Vincent and the Grenadines (SVG FSA).   The SVG FSA is not a Forex broker regulator and does not supervise any trading-related activities, but IQ Option claims to segregate all client funds from its operating capital and provides traders with negative balance protection.  IQ Option provides little in the way of market research or educational materials, forcing beginners to self-educate elsewhere.  

Due to the number of complaints we have received from clients of Oinvest, we have chosen not to recommend them to visitors of this website.  We suggest that traders with another broker. See our list of best Forex brokers in Philippines. Oinvest is a South African market maker broker and was founded in 2012. It was regulated by the FSCA but had their FSCA license withdrawn in October 2020 following numerous public complaints.