Eightcap vs AximTrade - Fees Review included
Which broker is better Eightcap or AximTrade? Our expert assessment conducted according to TU’s own methodology showed that Eightcap is one of the top brokers in the financial market with the TU Overall Score of 9.04 out of 10. AximTrade is one of the top brokers in the financial market with the TU Overall Score of 4.82 out of 10. Find out more about TU Overall Score.
| Feature | Eightcap | AximTrade |
|---|---|---|
Overall |
2.9 |
1.9 |
3.3 |
2.5 |
|
3.7 |
2.3 |
|
3.7 |
2.7 |
|
Investment Instruments |
1 |
2.1 |
Platforms and Charting Tools |
3.5 |
1.8 |
Deposit and Withdrawal |
3.6 |
2.9 |
Research |
3.9 |
1.7 |
Education |
3.4 |
1.4 |
Support |
3.6 |
1.6 |
Bonuses |
4 |
1.5 |
|
|
Eightcap vs AximTrade: Pros and Cons
Eightcap is regulated by the Australian Securities and Investment Commission (AFSL 443670) and by the Vanuatu Financial Services Commission (reg. no. 40377). Eightcap was incorporated in Melbourne, Australia, and offers its services as an online financial trading organization. Eightcap's line of business is Forex and CFD trading services offered to both retail and institutional clients. Eightcap gives access to one of the most popular trading platforms – MetaTrader 4.
AximTrade is an intermediary that is registered in Saint Vincent and the Grenadines and operates under the supervision of the Financial Services Authority (SVGFSA) regulator. It has been providing services for trading currency pairs, cryptocurrencies, and CFDs since 2020. The company offers cent, standard and ECN accounts with high leverage, low minimum deposit requirements, and tight spreads. AximTrade has awards from The Best Forex IB Program (Africa and Asia) and The Best Forex Trading Platform Asia.
| Eightcap | AximTrade | |
|---|---|---|
| Overall Pros | a large number of trading assets | The availability of a regulator and longevity in the Forex market of more than 10 years. |
| Low fees | The low entry threshold for starting trading is $1 for cent and standard accounts and $50 for ECNs. | |
| Good bonus programs | Tight spreads on all account types and average commissions per lot on ECN accounts in the brokerage market. | |
| Raw account avaible | High leverages up to 1:3000. | |
| The ability to deposit and withdraw funds using electronic payment systems and in cryptocurrency. | ||
| The existence of a social trading platform that allows you to receive additional income for both investors and experienced traders. | ||
| Overall Cons | High minimum deposit - $100 | An account with the broker cannot be opened by traders from several countries, including the United States, Great Britain, and Canada. |
| lack of investment programs | The company's website does not have sections with training, analytics, or news. | |
| The web terminal is not available to clients. |
Eightcap vs AximTrade: Safety and Regulation
| Regulated By: | Eightcap | AximTrade |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
ASIC, VFSC |
ASIC, FSA, FSP |
Eightcap vs AximTrade: Trading Conditions
| Trading Conditions | Eightcap | AximTrade |
|---|---|---|
Minimum Deposit |
$100 |
$1 |
Trading Platforms |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
МТ4 (desktop, mobile) |
Max Leverage (Futures) |
1-30 for Australian clients and 1-500 for Non-AU clients |
401769 |
Supported Markets |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
Currency pairs, CFDs on indices, metals, energies, cryptocurrencies, USD |
Trading assets |
3620+ |
155+ |
Trading Accounts |
Standard Account, Raw Account, Demo |
Standard, Cent, ECN, Infinite |
Base Account Currencies |
AUD, USD, GBP, NZD, SGD, EUR |
USD |
Eightcap vs AximTrade: Fees
Forex Trading Fees
| Fee | Eightcap | AximTrade |
|---|---|---|
Standard Account EURUSD Average Spread |
0.76 pips |
1.1 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$0 |
$0 |
ECN Account EUR Average Spread |
0,06 pips |
0,2 pips |
CFD Trading Fees
| Fee | Eightcap | AximTrade |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Eightcap | AximTrade |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
Wire Transfer/Debit or credit card/Electonic wallets - 0%, USDT (TRC-20) - $1-2, USDT (ERC-20) - $15-25, BEP-20 - $1-2 |
Withdrawal Fee |
Bank transfers have variable fees, typically about 25$ |
Neteller/Skrill - $4, USDT (TRC-20), USDT (ERC-20), BEP-20 - $0, wire transfer - $0 |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Eightcap vs AximTrade: Trading Assets
| Asset Name | Eightcap | AximTrade |
|---|---|---|
Overall |
3620+ |
155+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
No |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
Eightcap or AximTrade: Investment Programs
| Asset Name | Eightcap | AximTrade |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: AximTrade or Eightcap
| Eightcap | AximTrade | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
No |
|
|
Eightcap vs AximTrade: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Eightcap | AximTrade |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Coming soon |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
Eightcap vs AximTrade: Research
| Research Type | Eightcap | AximTrade |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Eightcap vs AximTrade: Education
| Education Type | Eightcap | AximTrade |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
No |
Videos |
No |
No |
Cent account |
No |
No |
AximTrade vs Eightcap: Support
| Support Features | Eightcap | AximTrade |
|---|---|---|
Working Days |
24/7 |
Email 24/5, Online chat 24/7 |
Yes |
Yes |
|
Phone |
Yes |
No |
Online chat |
Yes |
Yes |
Other |
No |
No |
Eightcap vs AximTrade: Forex Bonuses and Promo
| Promo | Eightcap | AximTrade |
|---|---|---|
Forex Bonus |
If you are a new client of Eightcap and you fund your new live trading account with them within 10 days of your account being opened then you are eligible to earn up to a $1,000 trading credit bonus which you can also convert into real equity at a rate of $1 for every standard FX lot when you trade; $30 No-deposit bonus |
No |
Affiliate Program |
You can refer your followers and customers to earn passive income, with rebates up to $6 USD per lot and CPAs up to $900 USD |
Affiliates and IBs. There are programs for private traders and companies that offer a maximum reward of up to $20 per lot and up to 10% of second-level referrals; Loyalty Program. The company raffles off valuable prizes (smartphones, watches, cars, luxury vacations) among affiliates who have met the requirements for the total turnover of referrals. Affiliates whose referrals have traded from 3,000 lots within 3 months participate in the drawing. |
Other Promos |
||
|
|
Top 5 Reviews on AximTrade
-
Comment
Aximеtrade has its own tariff plans for novice traders. But I think we need to study everything carefully, because this broker has strict conditions. This requires strategy. Even novice traders need to have basic knowledge of trading and investing. I give Aximеtrade a normal rate.
-
Comment
The broker AximTrade should have been blacklisted long ago. This company has proven to be a fake broker that offers virtual trading. All information about attractive conditions at AximTrade is pure deception. No matter what conditions are advertised on the company's website, withdrawing money from here is practically impossible.
-
Comment
If I had known the truth about AximTrade from the start, I would have never opened a trading account here. Because all the information about the company is a lie! There is no regulator's license, no protection for traders from AximTrade's wrongdoing. They didn't withdraw my money at all! The account still has the initial deposit of $1000 and a profit of $380! The account is currently blocked.
-
Comment
I withdrew my profit and deposit, but it is almost impossible to trade here. Trading with AximTrade was not very comfortable and when I contacted managers, they simply wavered, claiming that the market has its own characteristics and requires a good strategy. I got the impression that they somehow influence the market, I will try to prove it. But it is best to avoid working with AximTrade.
-
Comment
AximTrade promises the best trading conditions. But I will say that they are simply deceiving their clients. As soon as you start trading, conditions change. AximTrade has no problems on a demo account, but on a live account there are a lot of problems. This is how they lure you in and then change the conditions without warning. Don't even think about opening an account here!
Top 5 Reviews on Eightcap
-
Comment
I can honestly say that Eightcap’s one of the best economic calendars I've ever used. It's a great way to stay up-to-date on the latest news and events that can impact the forex market. The calendar is easy to navigate, and it shows you the upcoming economic events, their estimated impact (low, medium, high), and the currency pairs that might be affected. You can see events like the Chicago Fed National Activity Index and the Westpac Consumer Confidence for Australia. This info is all really helpful for planning your trades. Recently, I used the AvaTrade calendar to see what economic data was coming out for the US dollar (USD). There was a big report on retail sales coming up, and AvaTrade predicted it could have a high impact on the USD. I decided to hold off on a trade I was considering until after the report was released, just in case it caused a lot of volatility. Turned out to be a good decision, because the USD price moved a lot after the report came out.
-
Comment
So, let me tell you a little about my experience with Eightcap. Their registration process? Quite thorough. They did a good job explaining the options during sign-up. However, uploading documents could use some improvement. I found it a bit tricky at first, and it didn't seem to overwrite previous uploads, which was a bit confusing. So yeah, some roadblocks in the way but my overall experience has been positive so far with Eightcap.
-
Comment
I've been using Eightcap for a few weeks now, and I've been impressed with their customer service. The other day, I had a question about depositing funds to my account. I didn't want to wait on hold on the phone, so I decided to try their chatbot support. To my surprise, the chatbot was really helpful. It was able to answer my question quickly and easily, without any hassle. Based on my experience, Eightcap's chatbot seems like a great resource for getting quick answers to basic questions. It's definitely a plus for new traders who might be unfamiliar with the platform or forex trading in general. Of course, if you have a more complex issue, you might still need to contact a live person. But for those simple questions, the chatbot is a great way to go.
-
Comment
I've been trading with Eightcap for about a year now. The broker offers reasonable trading conditions, a fast platform, and instant order execution. Traders here are not restricted from trading on news events, and any strategies can be applied. It's important that the Eightcap terminal doesn't disappoint, with the server connection always stable. Overall, the platform operates smoothly without freezes or glitches.
-
Comment
The broker Eightcap can provide good trading opportunities. There are no special features here, but the platform works quickly. Therefore, you can trade actively and open trades in a medium-term trading system. Eightcap has proven itself quite well. I have been working with them for two years and haven't noticed any serious problems.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.