Eightcap vs LiteForex - Fees Review included
Which broker is better Eightcap or LiteForex? 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. LiteForex is one of the top brokers in the financial market with the TU Overall Score of 6.38 out of 10. Find out more about TU Overall Score.
| Feature | Eightcap | LiteForex |
|---|---|---|
Overall |
2.9 |
4.4 |
3.3 |
4.8 |
|
3.7 |
3.7 |
|
3.7 |
3.8 |
|
Investment Instruments |
1 |
4.5 |
Platforms and Charting Tools |
3.5 |
4.5 |
Deposit and Withdrawal |
3.6 |
5 |
Research |
3.9 |
4 |
Education |
3.4 |
4.4 |
Support |
3.6 |
4.7 |
Bonuses |
4 |
4.1 |
|
|
|
Eightcap vs LiteForex: 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 LiteForex broker is a high-tech company that constantly offers innovative solutions for active and passive trading. The LiteForex group of companies was incorporated in 2005, and it has risen through the ranks to become a market leader. Today, LiteForex is an online ECN broker with unique technical solutions for transferring transactions to the interbank and directly to liquidity providers.
| Eightcap | LiteForex | |
|---|---|---|
| Overall Pros | a large number of trading assets | Correspondence to the A-Book model, STP (straight-through processing) and ECN technologies for processing client orders and pin spreads with instant market execution with minimal slippage in both directions |
| Low fees | ||
| Good bonus programs | ||
| Raw account avaible | ||
| Overall Cons | High minimum deposit - $100 | |
| lack of investment programs |
Eightcap vs LiteForex: Safety and Regulation
| Regulated By: | Eightcap | LiteForex |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
ASIC, VFSC |
European MiFID directive (license No. 093/08) |
Eightcap vs LiteForex: Trading Conditions
| Trading Conditions | Eightcap | LiteForex |
|---|---|---|
Minimum Deposit |
$100 |
$50 |
Trading Platforms |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
MT4, MT5, MultiTerminal, Sirix Webtrader |
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, assets of stock and commodity markets, cryptocurrencies |
Trading assets |
3620+ |
200+ |
Trading Accounts |
Standard Account, Raw Account, Demo |
Demo, Classic, ECN |
Base Account Currencies |
AUD, USD, GBP, NZD, SGD, EUR |
USD, EUR, CHF, MBT |
Eightcap vs LiteForex: Fees
Forex Trading Fees
| Fee | Eightcap | LiteForex |
|---|---|---|
Standard Account EURUSD Average Spread |
0.76 pips |
1.8 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$0 |
$5 per lot |
ECN Account EUR Average Spread |
0,06 pips |
0.1 pips |
CFD Trading Fees
| Fee | Eightcap | LiteForex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Eightcap | LiteForex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank transfers have variable fees, typically about 25$ |
2-3% |
Inactivity Fee |
No |
0%. Accounts are archived after three months of inactivity but can be recovered |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Eightcap vs LiteForex: Trading Assets
| Asset Name | Eightcap | LiteForex |
|---|---|---|
Overall |
3620+ |
200+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes |
Yes |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
Eightcap or LiteForex: Investment Programs
| Asset Name | Eightcap | LiteForex |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: LiteForex or Eightcap
| Eightcap | LiteForex | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
SiriX Webtrader |
|
|
|
Eightcap vs LiteForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Eightcap | LiteForex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
Eightcap vs LiteForex: Research
| Research Type | Eightcap | LiteForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
No |
Eightcap vs LiteForex: Education
| Education Type | Eightcap | LiteForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Cent account |
No |
No |
LiteForex vs Eightcap: Support
| Support Features | Eightcap | LiteForex |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
FB Messenger, Telegram |
Eightcap vs LiteForex: Forex Bonuses and Promo
| Promo | Eightcap | LiteForex |
|---|---|---|
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 |
This multilevel affiliate program allows you to get remuneration up to $50 for each client (referral) + 10% of the sub-partner's profit. |
Other Promos |
ZERO Fees — reimbursement to the trading account by the debited payment system for the transfer of a commission via replenishment or withdrawal |
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Top 5 Reviews on LiteForex
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Comment
I have been seeing post everywhere and a lot of people keep saying reach out to them and eventually I did and it turned out to be legit. now my lost bitcoin is recovered, they have the best bitcoin trading and funds recovery software, Thank you victimsrecoveryeducation@cyberservices.com
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Comment
I'm happy with LiteForex. The quality of the trading platform is normal. There are requotes, but they are quite rare. I withdrew $500 for the first time without any delays. I can remember one negative thing: there was disconnection from the server, which lasted more than 3 minutes. LiteForex support has resolved this issue and I hope that there will be no more problems like this.
-
Comment
Lite Forex is a very bad broker. I traded with it last year and it kept getting worse and worse with each trade. Stop losses were placed due to the spontaneous expansion of spreads, increase and change into negative swaps on some popular trading assets. There were no good specialists in technical support who could solve the problem. I advise you to run away from Lite Forex.
-
Comment
If you got here, quit trading with LiteForex. You won't earn anything here, you'll only lose your money. I tried to trade with LiteForex twice and lost my deposit both times. You open a trade, but it constantly goes against you. Even if there is a trend. There is an expiration in the negative, and then the price moves normally. You rush to open a trade again and the situation repeats. This is not trading, but torture.
-
Comment
Spikes that destroy your stops are a normal occurrence on the LiteForex platform. It’s okay if there is multidirectional movement in the market. But when there is a stable trend, a 50-pip spike in the opposite direction is a common occurrence for them. And I think that LiteForex manipulates this situation.
Top 5 Reviews on Eightcap
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Comment
The main thing is to stick to the chosen strategy. ?? added a picture + Facebook link
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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.