Eightcap vs OspreyFX - Fees Review included
Which broker is better Eightcap or OspreyFX? 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. OspreyFX is one of the top brokers in the financial market with the TU Overall Score of 2.4 out of 10. Find out more about TU Overall Score.
| Feature | Eightcap | OspreyFX |
|---|---|---|
Overall |
2.9 |
2.3 |
3.3 |
1 |
|
3.7 |
2.3 |
|
3.7 |
2.7 |
|
Investment Instruments |
1 |
2.1 |
Platforms and Charting Tools |
3.5 |
4.3 |
Deposit and Withdrawal |
3.6 |
2.1 |
Research |
3.9 |
1.4 |
Education |
3.4 |
3.4 |
Support |
3.6 |
1.6 |
Bonuses |
4 |
1.8 |
|
|
|
Eightcap vs OspreyFX: 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.
OspreyFX is an STP broker that operates on the A Book model and uses ECN technology. It was registered in Saint Vincent and the Grenadines in 2018 and currently is applying for a dealer license. The company offers clients FX and CFD trading, including indices, commodities, stock indices, and cryptocurrencies. Traders can open ECN accounts and trade via mobile or desktop terminals using MetaTrader 4/5 or WebTrader with high leverage
| Eightcap | OspreyFX | |
|---|---|---|
| Overall Pros | a large number of trading assets | The size of the minimum deposit is available even to novice traders |
| Low fees | High leverage - up to 1:500 | |
| Good bonus programs | High speed of execution of transactions - 94% of orders are executed at a speed of 30-50ms | |
| Raw account avaible | Honest spread, taking into account the broker's markup. Virtually no expansion during times of abnormal volatility due to direct access to liquidity providers | |
| In addition to active trading tools, the “funded trader” program is presented, which allows you to manage up to 200 thousand USD after passing the test | ||
| Overall Cons | High minimum deposit - $100 | Rigid tariff policy, more suitable for traders with active speculative strategies |
| lack of investment programs | The helpdesk is overly automated. To contact the operator, you need to answer a lot of questions from the bot. Operators respond to unregistered users with general phrases without specifics |
Eightcap vs OspreyFX: Safety and Regulation
| Regulated By: | Eightcap | OspreyFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
ASIC, VFSC |
No |
Eightcap vs OspreyFX: Trading Conditions
| Trading Conditions | Eightcap | OspreyFX |
|---|---|---|
Minimum Deposit |
$100 |
Standard - $50, Pro - $500, VAR - $250, Mini - $25 |
Trading Platforms |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
МТ4 (including brouser version), МТ5 |
Max Leverage (Futures) |
1-30 for Australian clients and 1-500 for Non-AU clients |
1-500 |
Supported Markets |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
FX, Indices, Commodities, Metals, Stocks, Cryptos |
Trading assets |
3620+ |
120+ |
Trading Accounts |
Standard Account, Raw Account, Demo |
Standard, Pro, VAR, Mini |
Base Account Currencies |
AUD, USD, GBP, NZD, SGD, EUR |
USD |
Eightcap vs OspreyFX: Fees
Forex Trading Fees
| Fee | Eightcap | OspreyFX |
|---|---|---|
Standard Account EURUSD Average Spread |
0.76 pips |
Not supported |
Standard Account Fee |
$0 |
Not supported |
ECN/STP Account Fee |
$0 |
Standard - $8, Pro - $7, VAR - $0, Mini - $1 |
ECN Account EUR Average Spread |
0,06 pips |
0.7-0.8 pips |
CFD Trading Fees
| Fee | Eightcap | OspreyFX |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Eightcap | OspreyFX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank transfers have variable fees, typically about 25$ |
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 OspreyFX: Trading Assets
| Asset Name | Eightcap | OspreyFX |
|---|---|---|
Overall |
3620+ |
120+ |
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 |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
Eightcap or OspreyFX: Investment Programs
| Asset Name | Eightcap | OspreyFX |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
There is a "Funded Trader" program. A trader must show on a test account that he can earn money by observing risk management. In case of success, the trader receives a real account with an amount of up to 200 thousand USD in management. Conditions: exam price - from 250 USD, trading: minimum 10 days within 1 month, maximum daily drawdown - 5%, total - 12% |
Trading Platforms: OspreyFX or Eightcap
| Eightcap | OspreyFX | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
Web Trader (browser version of the platform of MetaQuotes). Forex Squad - own learning platform |
|
|
|
Eightcap vs OspreyFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Eightcap | OspreyFX |
|---|---|---|
Bank Transfer |
Yes |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
Eightcap vs OspreyFX: Research
| Research Type | Eightcap | OspreyFX |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Eightcap vs OspreyFX: Education
| Education Type | Eightcap | OspreyFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
No |
No |
Cent account |
No |
No |
OspreyFX vs Eightcap: Support
| Support Features | Eightcap | OspreyFX |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
No |
|
Phone |
Yes |
No |
Online chat |
Yes |
Yes |
Other |
No |
feedback form |
Eightcap vs OspreyFX: Forex Bonuses and Promo
| Promo | Eightcap | OspreyFX |
|---|---|---|
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 |
Affiliate program with a reward of 2.5 USD for each lot conducted by the referral. The broker provides marketing packages with information materials and provides training free of charge |
Other Promos |
Contests with small deposit |
|
|
|
|
Top 5 Reviews on OspreyFX
-
Comment
For me, the downside of trading with OspreyFX is the wide spreads. For the EUR/USD pair, the average spread is 6.5 pips. This is quite a lot for those who trade actively. I engage in medium-term trading, holding orders for one or two days. Therefore, such a wide spread at OspreyFX does not play a key role for me. Other than that, trading suits me fine.
-
Comment
I do not recommend contacting OspreyFX. Everything here is dubious and non-transparent, promises of its managers are a complete lie. They call and promise success and excellent earnings. You open a trading account and at first everything is fine. But after a while they begin to lead you to bankruptcy. OspreyFX managers ask you to fund your account and claim that their task is to help you. This is a total scam, don't trust OspreyFX.
-
Comment
I strongly do not recommend working with OspreyFX! The problem, even the simplest one, cannot be solved. I requested a withdrawal of $800 and asked for the transfer to be completed without delay. However, they delayed it by more than two weeks! This was done on purpose! No one answered my messages and calls, and no one apologized or explained the situation.
-
Comment
The ospreyfx.com website does not provide information about the company holding a license from a European regulator. The legal address of the so-called broker is in Kingstown, which is a convenient place to conceal dubious activities and scams. I do not recommend collaborating with OspreyFX; it is not trustworthy. Most likely, the money you transfer to them will not be returned.
-
Comment
ospreyfx.com does not have a regulatory license. The broker’s website claims that it doesn’t provide its services only to U.S. citizens. But if the company does not have a license from the European regulator, it cannot offer its services here either. I strongly do not recommend opening an account here. Most likely, you will simply lose your money.
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.