Eightcap vs Plus500 - Fees Review included
Which broker is better Eightcap or Plus500? 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. Plus500 is one of the top brokers in the financial market with the TU Overall Score of 6.83 out of 10. Find out more about TU Overall Score.
Feature | Eightcap | Plus500 |
---|---|---|
Overall |
2.9 |
3.7 |
3.3 |
4.9 |
|
3.7 |
4.4 |
|
3.7 |
4.4 |
|
Investment Instruments |
1 |
1 |
Platforms and Charting Tools |
3.5 |
3.3 |
Deposit and Withdrawal |
3.6 |
4.8 |
Research |
3.9 |
2.9 |
Education |
3.4 |
2.3 |
Support |
3.6 |
2.4 |
Bonuses |
4 |
2.1 |
|
Eightcap vs Plus500: 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.
Plus500 broker is owned by Plus500UK Ltd, a UK registered company with headquarters in London. The company is regulated by the FCA (UK Financial Conduct Authority). Plus500.com has been an active trading platform since 2008, where traders can trade more than two thousand financial assets. The broker provides its services in Asia and Europe, being also one of the fastest-growing companies that make it possible to trade CFD (contract for differences) contracts.
Eightcap | Plus500 | |
---|---|---|
Overall Pros | a large number of trading assets | Over 2000 trading CFD instruments |
Low fees | Advanced screeners and analysis tools | |
Good bonus programs | Free alert service | |
Raw account avaible | Well regulated CFD broker | |
Overall Cons | High minimum deposit - $100 | Plus500 does not provide the possibility of passive earnings |
lack of investment programs | A ban on scalping, order hedging, and automated trading | |
the broker does not cooperate with traders from Ukraine, the USA, and several other countries | ||
Broker don't offer ECN account | ||
MT4/MT5 trading platforms are not supported |
Eightcap vs Plus500: Safety and Regulation
Regulated By: | Eightcap | Plus500 |
---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
No |
Yes |
Other Regulators |
ASIC, VFSC |
Authorised Financial Services Provider #47546 issued by the FSCA in South Africa., Plus500 holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products (License No. CMS100648-1), Regulated by the Seychelles Financial Services Authority (Licence No. SD039) |
Eightcap vs Plus500: Trading Conditions
Trading Conditions | Eightcap | Plus500 |
---|---|---|
Minimum Deposit |
$100 |
$100 |
Trading Platforms |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
WebTrader, Plus500 |
Max Leverage (Futures) |
1-30 for Australian clients and 1-500 for Non-AU clients |
1-300 |
Supported Markets |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
CFDs on Forex, Stocks, Commodities, Metals, Cryptocurrencies, options and ETFs |
Trading assets |
3620+ |
2000+ |
Trading Accounts |
Standard Account, Raw Account, Demo |
Real, Demo |
Base Account Currencies |
AUD, USD, GBP, NZD, SGD, EUR |
USD |
Eightcap vs Plus500: Fees
Forex Trading Fees
Fee | Eightcap | Plus500 |
---|---|---|
Standard Account EURUSD Average Spread |
0.76 pips |
0.9 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$0 |
Not supported |
ECN Account EUR Average Spread |
0,06 pips |
Not supported |
CFD Trading Fees
Fee | Eightcap | Plus500 |
---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
Fee | Eightcap | Plus500 |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank transfers have variable fees, typically about 25$ |
No |
Inactivity Fee |
No |
$10 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 Plus500: Trading Assets
Asset Name | Eightcap | Plus500 |
---|---|---|
Overall |
3620+ |
1000+ |
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 |
Yes (CFD) |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
Eightcap or Plus500: Investment Programs
Asset Name | Eightcap | Plus500 |
---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Plus500 or Eightcap
Eightcap | Plus500 | |
---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
Plus500 |
Others |
No |
No |
|
Eightcap vs Plus500: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | Eightcap | Plus500 |
---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
Eightcap vs Plus500: Research
Research Type | Eightcap | Plus500 |
---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Eightcap vs Plus500: Education
Education Type | Eightcap | Plus500 |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Cent account |
No |
No |
Plus500 vs Eightcap: Support
Support Features | Eightcap | Plus500 |
---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
No |
|
Phone |
Yes |
No |
Online chat |
Yes |
Yes |
Other |
No |
No |
Eightcap vs Plus500: Forex Bonuses and Promo
Promo | Eightcap | Plus500 |
---|---|---|
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 |
An affiliate partner earns from $200 to $800 for a referred client who opened a trading account and started trading. The amount of remuneration varies depending on the partner's country of residence |
Other Promos |
||
|
Top 5 Reviews on Plus500
-
Comment
I took a risk and opened a trading account with Plus500. I'm trading in the black. I can say that I’m testing the company, checking it. I asked the support to make a report about a trade, whether they would do it or not. But they sent the report quickly, well done! We'll see what happens with withdrawals. I hope they won’t disappoint me here either)
-
Comment
Plus500 is a good broker. My money was withdrawn in 2 days. I don't communicate with the support team much — I have my own strategy and trading goes as it should. There are a lot of services to choose from. The analytics are good. The only disadvantage is that there were a few failures during a couple of months, but they did not affect my trading critically.
-
Comment
I have been working with Plus500 for a long time. If we evaluate it comprehensively, it’s not bad. There are little things that are not 100% satisfying, but overall, compared to other companies, it’s probably ok. I mean the quotes flow and precision of trades. The rest is fine. I get enough profit from regular trading.
-
Comment
I’ve been working with Plus500 for a few months, but my overall Forex experience is almost two years. I learned about Plus500 from a friend who traded there and recommended it to me. I can say that Plus500 is a normal broker with its strengths and weaknesses. Personally, I like that there are no delays in payments, which is very important to me.
-
Comment
Plus500 may experience payment delays. Once I waited a week. There is such a thing, I think all his clients are used to it))) Everything else is fine. Trade honestly passes, on this point there is nothing to complain about.
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.