Eightcap vs Forex4You - Fees Review included
Which broker is better Eightcap or Forex4You? 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. Forex4You is one of the top brokers in the financial market with the TU Overall Score of 8.57 out of 10. Find out more about TU Overall Score.
| Feature | Eightcap | Forex4You |
|---|---|---|
Overall |
2.9 |
4.4 |
3.3 |
4.3 |
|
3.7 |
4.0 |
|
3.7 |
4.1 |
|
Investment Instruments |
1 |
4.8 |
Platforms and Charting Tools |
3.5 |
4.5 |
Deposit and Withdrawal |
3.6 |
4.4 |
Research |
3.9 |
4.5 |
Education |
3.4 |
4.4 |
Support |
3.6 |
4.5 |
Bonuses |
4 |
5 |
|
|
|
Eightcap vs Forex4You: 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.
The broker Forex4you started in 2007. The company provides a full range of active and passive trading services in the Forex market. The company runs its operations in the British Virgin Islands, under the license BVI FSC (license number SIBA/L/12/1027). Forex4you is committed to responsibility and professionalism. In 2018, according to Le Fonti, the company was awarded the ‘Best Broker’ which is the highest award achievable, and prior to this it has consistently won and received nominations for awards including ‘Forex Broker of the Year’ and ‘Best Service Quality’ nomination.
| Eightcap | Forex4You | |
|---|---|---|
| Overall Pros | a large number of trading assets | Trading With Leverage up to 1:1000 |
| Low fees | 2 types of cent accounts | |
| Good bonus programs | Share4You copy trading platform | |
| Raw account avaible | Forex bonuses | |
| Instant withdrawal of funds | ||
| Overall Cons | High minimum deposit - $100 | Not a big choice of trading assets |
| lack of investment programs | High fees |
Eightcap vs Forex4You: Safety and Regulation
| Regulated By: | Eightcap | Forex4You |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
ASIC, VFSC |
BVI FSC (British Virgin Islands ) |
Eightcap vs Forex4You: Trading Conditions
| Trading Conditions | Eightcap | Forex4You |
|---|---|---|
Minimum Deposit |
$100 |
$1 |
Trading Platforms |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
MT4, Forex4You |
Max Leverage (Futures) |
1-30 for Australian clients and 1-500 for Non-AU clients |
1-1000 |
Supported Markets |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
Currencies, assets of stock and commodity markets, cryptocurrencies |
Trading assets |
3620+ |
100+ |
Trading Accounts |
Standard Account, Raw Account, Demo |
Cent, Cent NDD, Classic, Pro STP |
Base Account Currencies |
AUD, USD, GBP, NZD, SGD, EUR |
USD, EUR |
Eightcap vs Forex4You: Fees
Forex Trading Fees
| Fee | Eightcap | Forex4You |
|---|---|---|
Standard Account EURUSD Average Spread |
0.76 pips |
2 pip |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$0 |
$8 per lot |
ECN Account EUR Average Spread |
0,06 pips |
0.2 pip |
CFD Trading Fees
| Fee | Eightcap | Forex4You |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Eightcap | Forex4You |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank transfers have variable fees, typically about 25$ |
No |
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 Forex4You: Trading Assets
| Asset Name | Eightcap | Forex4You |
|---|---|---|
Overall |
3620+ |
100+ trading assets |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
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 Forex4You: Investment Programs
| Asset Name | Eightcap | Forex4You |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Forex4You or Eightcap
| Eightcap | Forex4You | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
Forex4You |
Others |
No |
No |
|
|
|
Eightcap vs Forex4You: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Eightcap | Forex4You |
|---|---|---|
Bank Transfer |
Yes |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
Eightcap vs Forex4You: Research
| Research Type | Eightcap | Forex4You |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
Yes |
Eightcap vs Forex4You: Education
| Education Type | Eightcap | Forex4You |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
Forex4You vs Eightcap: Support
| Support Features | Eightcap | Forex4You |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Eightcap vs Forex4You: Forex Bonuses and Promo
| Promo | Eightcap | Forex4You |
|---|---|---|
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 |
5-100% deposit bonus |
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 |
Up to 50% of referrals spread |
Other Promos |
||
|
|
|
Top 5 Reviews on Forex4You
-
Comment
As a beginner trader, you can trade with experienced traders strategies, profit, and cashout without knowing how to truly analyze the market on Forex4You. The share4You service is copy trading service where inexperienced traders follow the activity world class traders and can copy their trades. Start by signing up for share4you once you are logged in, you will be presented with a list of many traders you can copy from. I would use the filter to select a traders based on performance, risk, commissions, profile, etc. Using the filter helps you focus on the type of traders you want to copy. So to start copying, click on the trader you want to copy, enter the investment amount which must be equal or higher than the minimum, then click start copying to proceed. You will be redirected to deposit the investment amount you choose instead if you have not funded your account yet.
-
Comment
FOREX4YOU is a low-cost trading platform with a minimum trade volume of 0.01 for all five account types on Forex4You. The cent Pro and classic have a floating spread starting from 0.1 pips, the classic standard account starts from 0.9 pips while the fixed and classified accounts have a fixed spread starting from 2 pips. Since I trade with the pro cent account, I trade with leverage starting from 1:10 to 1:50 with a minimum trade volume of 0.01 lot and a floating spread of 0.1 pip.
-
Comment
Becoming a top trader is a mile you can cover without committing any funds if you trade with the Forex4You MT4 demo account. The trading environment you trade on the demo account is the same as the one you will be using when you trade on a real account. You have everything you need on the demo account, ranging from the chart types to the indicators, risk management tools, and unlimited opening of orders. One of my favorite indicators is the MACD and it is my favorite when I want to identify moving averages that are about adapting a new trend. To know when there is a new trend the MACD line (blue line) which is the faster moving average, crosses the signal line (red line) which is slower.
-
Comment
Forex4you has a good service. Although I can’t say that there are no problems at all. Sometimes they charge a fairly high fee for copying trades. Although, I don’t understand why one account has a higher subscription fee than another. Alsol, it happens that the Forex4you platform malfunctions. But in general, you can trade profitably here.
-
Comment
Forex4you is a normal exchange. Sometimes the platform freezes, precisely when there is a strong movement in the cryptocurrency market. Then only limit orders work for me; it is impossible to place a market order. Forex4you has enough cryptocurrency markets; I am not interested in exotic ones. I withdraw only to Bitcoin and Ether wallets, withdrawals come quickly.
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!