Eightcap vs Forex.com - Fees Review included
Which broker is better Eightcap or Forex.com? 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. Forex.com is one of the top brokers in the financial market with the TU Overall Score of 5.24 out of 10. Find out more about TU Overall Score.
Feature | Eightcap | Forex.com |
---|---|---|
Overall |
2.9 |
4.3 |
3.3 |
5 |
|
3.7 |
4.3 |
|
3.7 |
4.4 |
|
Investment Instruments |
1 |
3.5 |
Platforms and Charting Tools |
3.5 |
4.5 |
Deposit and Withdrawal |
3.6 |
4.2 |
Research |
3.9 |
4.7 |
Education |
3.4 |
4.3 |
Support |
3.6 |
4.8 |
Bonuses |
4 |
4.2 |
|
Eightcap vs Forex.com: 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.
Speaking of recognitions and awards, Oanda doesn’t lag behind as it has several awards to its name. The US Foreign Exchange Report awarded it the Best Customer Service, while FX Week crowned it the Best Trading Platform. There’s also an award from the UK Forex Awards where Oanda bagged top honors in the Best Forex Trading Technologies category.
Eightcap | Forex.com | |
---|---|---|
Overall Pros | a large number of trading assets | Orders executed at high speeds |
Low fees | 4500+ instruments across various markets | |
Good bonus programs | Tight spreads on over 90 assets | |
Raw account avaible | Rebate and discount programs are available | |
High-level investor protection | ||
Diverse technical research tools | ||
Caters to a wider audience of users | ||
Creates a variety of quality, written content daily | ||
Low fees and relatively cheap commission costs | ||
Overall Cons | High minimum deposit - $100 | Fewer deposit and withdrawal options |
lack of investment programs | Lacks a multi-language version |
Eightcap vs Forex.com: Safety and Regulation
Regulated By: | Eightcap | Forex.com |
---|---|---|
US Regulation |
No |
Yes (CFTC) |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
ASIC, VFSC |
Japanese Financial Services Authority (JFSA), nvestment Industry Regulatory Organization of Canada (IIROC), Cayman Islands Monetary Authority (CIMA), The Securities and Futures Commission (SFC), The Monetary Authority of Singapore (MAS) |
Eightcap vs Forex.com: Trading Conditions
Trading Conditions | Eightcap | Forex.com |
---|---|---|
Minimum Deposit |
$100 |
$100 |
Trading Platforms |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
МТ4 |
Max Leverage (Futures) |
1-30 for Australian clients and 1-500 for Non-AU clients |
1-500 |
Supported Markets |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
Forex, CFDs (not for all entetities): Forex, Indexes, Stocks, Commodities, Metals, Cryptocurrencies |
Trading assets |
3620+ |
4500+ |
Trading Accounts |
Standard Account, Raw Account, Demo |
Standard, Commission, and Direct Market Access |
Base Account Currencies |
AUD, USD, GBP, NZD, SGD, EUR |
USD, EUR, GBP |
Eightcap vs Forex.com: Fees
Forex Trading Fees
Fee | Eightcap | Forex.com |
---|---|---|
Standard Account EURUSD Average Spread |
0.76 pips |
1.1 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$0 |
$8-$3 per lot (volume based fees) |
ECN Account EUR Average Spread |
0,06 pips |
0.2 pips |
CFD Trading Fees
Fee | Eightcap | Forex.com |
---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
Fee | Eightcap | Forex.com |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank transfers have variable fees, typically about 25$ |
No |
Inactivity Fee |
No |
$15 monthly after 12 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Eightcap vs Forex.com: Trading Assets
Asset Name | Eightcap | Forex.com |
---|---|---|
Overall |
3620+ |
4500+ |
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 |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
Eightcap or Forex.com: Investment Programs
Asset Name | Eightcap | Forex.com |
---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Forex.com or Eightcap
Eightcap | Forex.com | |
---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
Forex.com |
Others |
No |
No |
|
Eightcap vs Forex.com: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | Eightcap | Forex.com |
---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes (not for all markets) |
Crypto |
No |
No |
Eightcap vs Forex.com: Research
Research Type | Eightcap | Forex.com |
---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
Yes |
Eightcap vs Forex.com: Education
Education Type | Eightcap | Forex.com |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
Forex.com vs Eightcap: Support
Support Features | Eightcap | Forex.com |
---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Complaint form, FAQ support |
Eightcap vs Forex.com: Forex Bonuses and Promo
Promo | Eightcap | Forex.com |
---|---|---|
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 |
Yes (Not for all countries) |
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 |
Yes |
Other Promos |
||
|
Top 5 Reviews on Forex.com
-
Comment
Yes, Forex.com has good conditions for trading various assets. I myself started trading here and was worried that I would face some kind of manipulation. At first, of course, there were losses, but now I was able to recover the losses and start making a profit. I can recommend Forex.com for making profits on Forex.
-
Comment
This company has been operating in the Forex market for a long time. And it seems that traders don't have any serious complaints about Forex.com. So I decided to try trading here and see how my trading strategies would work. After five months of cooperation, I can say the following. Spreads at Forex.com are not the smallest. Therefore, it's better not to rely on fast trades. The platform works well, there are no restrictions on trading time and trading strategies. Forex.com has a withdrawal to a bank card within 7 days, and they stick to this timeframe.
-
Comment
I am completely satisfied with Forex.com as a broker. I like their convenient platform, developed by the company’s specialists. You can use mobile and other versions of the platform. I won't call myself an expert, but my little experience tells me that this is the right broker for me.
-
Comment
Forex.com offers good conditions. It's essential to understand that the broker operates based on European legislation and complies with regulatory requirements. Commissions at Forex.com are not particularly low. Additionally, the spread in the terminal is slightly above average. However, for me, it's one of the oldest and most reliable brokers. Therefore, I have been trading here for three years.
-
Comment
I finally decided to try my hand at trading in the Forex market. Choosing a broker was not easy, given my relatively low level of knowledge about this exchange. I was primarily interested in the opportunity to receive quality education and master all the intricacies of trading. As a result, I chose Forex.com and immediately enrolled in their online training course. However, it's unfortunate that they don't offer micro accounts here for practicing trading without risking significant amounts of money.
Top 5 Reviews on Eightcap
-
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.
-
Comment
Collaborating with Eightcap has been a key moment in my trading career. Their reliable platform, quick order execution, and professional support have helped me achieve consistent results in trading. Withdrawals may not be as fast as desired, but Eightcap has never violated its withdrawal schedule.
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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.