Eightcap vs FXORO - Fees Review included
Which broker is better Eightcap or FXORO? 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. FXORO is one of the top brokers in the financial market with the TU Overall Score of 4.29 out of 10. Find out more about TU Overall Score.
| Feature | Eightcap | FXORO |
|---|---|---|
Overall |
2.9 |
3.9 |
3.3 |
4.1 |
|
3.7 |
3.8 |
|
3.7 |
3.7 |
|
Investment Instruments |
1 |
1 |
Platforms and Charting Tools |
3.5 |
3.9 |
Deposit and Withdrawal |
3.6 |
4.1 |
Research |
3.9 |
3.9 |
Education |
3.4 |
4.9 |
Support |
3.6 |
4.2 |
Bonuses |
4 |
2.1 |
|
|
|
Eightcap vs FXORO: 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.
FXORO was founded in 2012. FXORO is a brand name owned by MCA Intelifunds LTD. It is a financial firm established under the jurisdiction of the Republic of Cyprus. It is authorized and registered by the CySec with registration number 126/10. FXORO gives access to trading CFD's on various products, such as Forex, Indices, Shares, Commodities, and Cryptocurrencies. The company offers excellent trading services yet paying great attention to customer safety.
| Eightcap | FXORO | |
|---|---|---|
| Overall Pros | a large number of trading assets | Advanced education section |
| Low fees | Trading central signals | |
| Good bonus programs | ||
| Raw account avaible | ||
| Overall Cons | High minimum deposit - $100 | |
| lack of investment programs |
Eightcap vs FXORO: Safety and Regulation
| Regulated By: | Eightcap | FXORO |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
ASIC, VFSC |
FSA (Seychelles) |
Eightcap vs FXORO: Trading Conditions
| Trading Conditions | Eightcap | FXORO |
|---|---|---|
Minimum Deposit |
$100 |
$200 |
Trading Platforms |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
MT4, Mobile Apps |
Max Leverage (Futures) |
1-30 for Australian clients and 1-500 for Non-AU clients |
Up to 30:1 for retail clients and up to 400:1 for professional clients |
Supported Markets |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
Forex, Precious Metals, Commodities, Indices and Share based CFDs |
Trading assets |
3620+ |
200+ |
Trading Accounts |
Standard Account, Raw Account, Demo |
Fix, Floating, ECN |
Base Account Currencies |
AUD, USD, GBP, NZD, SGD, EUR |
USD, EUR, GBP, CHF |
Eightcap vs FXORO: Fees
Forex Trading Fees
| Fee | Eightcap | FXORO |
|---|---|---|
Standard Account EURUSD Average Spread |
0.76 pips |
2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$0 |
$6/€5/£4 per lot |
ECN Account EUR Average Spread |
0,06 pips |
0.2 pips |
CFD Trading Fees
| Fee | Eightcap | FXORO |
|---|---|---|
CFD Trading Fee |
Floating spread |
Fixed or floating spread, depends on the account type |
Non-Trading Fees
| Fee | Eightcap | FXORO |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
Wire Transfer 0-4% depending on the region, Debit/credit card, electronic wallets 0% |
Withdrawal Fee |
Bank transfers have variable fees, typically about 25$ |
Debit/credit card USD/ EUR/ GBP/ CHF 5, Wire transfer SEPA min USD/ EUR/ GBP/ CHF 5, max USD/ EUR/ GBP/ CHF 1405 SWIFT $35 fee for 1-700 USD, 5% fee for more than 700 USD, Electronic wallets $5/€/£ ($15/€/£ for Neteller) or 1% fee for more than 500 USD (more than $1500 for Neteller) |
Inactivity Fee |
No |
$25 per month after 3 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 FXORO: Trading Assets
| Asset Name | Eightcap | FXORO |
|---|---|---|
Overall |
3620+ |
|
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 |
Yes (CFD) |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
Eightcap or FXORO: Investment Programs
| Asset Name | Eightcap | FXORO |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: FXORO or Eightcap
| Eightcap | FXORO | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
No |
|
|
|
Eightcap vs FXORO: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Eightcap | FXORO |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
Eightcap vs FXORO: Research
| Research Type | Eightcap | FXORO |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
No |
Eightcap vs FXORO: Education
| Education Type | Eightcap | FXORO |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Webinars |
Yes |
Yes |
Articles |
Yes |
No |
Videos |
No |
No |
Cent account |
No |
No |
FXORO vs Eightcap: Support
| Support Features | Eightcap | FXORO |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Fax |
Eightcap vs FXORO: Forex Bonuses and Promo
| Promo | Eightcap | FXORO |
|---|---|---|
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 |
Yes, you will get a dynamic CPA of up to $1,000 |
Other Promos |
No |
|
|
|
|
Top 5 Reviews on FXORO
-
Comment
I would like to note FXORO’s good technical support and comprehensive analytical base. For those who know how to use these tools, making money here will be much easier.
-
Comment
At first, I was skeptical about FXORO broker, as I had too many disappointments with my previous company. But it turned out that I can work with this broker. Especially after my first trade brought me a profit of $120. Now I'm thinking of increasing my deposit with FXORO. The first withdrawal went smoothly.
-
Comment
Order execution at FXORO is good. It is quick and accurate, and there are almost never slippages or non-market quotes. Spreads correspond to those stated on the website, and although they are not the tightest, they remain stable. This is important to me because I prefer to avoid surprises. I can recommend FXORO.
-
Comment
It should be noted that FXORO offers quite favorable trading conditions. Spreads are also tempting. I don't want to list all the conditions, but it is not easy for a Forex broker to achieve those. I trade here and I am satisfied.
-
Comment
I can't think of any serious problems when trading with fxoro. I consider this broker reliable in matters of regulation and insurance of client funds. As for trading, anything could happen. There were even a couple of times in three years when trades were canceled due to non-market quotes. To its credit, fxoro canceled not only profitable trades, but also unprofitable ones.
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.