Eightcap vs Swissquote - Fees Review included
Which broker is better Eightcap or Swissquote? 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. Swissquote is one of the top brokers in the financial market with the TU Overall Score of 6.78 out of 10. Find out more about TU Overall Score.
| Feature | Eightcap | Swissquote |
|---|---|---|
Overall |
2.9 |
4.3 |
3.3 |
4.8 |
|
3.7 |
3.6 |
|
3.7 |
5 |
|
Investment Instruments |
1 |
4.3 |
Platforms and Charting Tools |
3.5 |
4.7 |
Deposit and Withdrawal |
3.6 |
4.0 |
Research |
3.9 |
4.5 |
Education |
3.4 |
4.6 |
Support |
3.6 |
4.0 |
Bonuses |
4 |
3.6 |
|
|
|
Eightcap vs Swissquote: 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 Swissquote brokerage firm has been operating in the Forex market since 1996. The company is regulated by the Swiss Financial Markets Authority (FINMA). The company is a member of the Swiss Bankers Association. It has offices in many financial capitals of the world: Zurich, London, Dubai, Hong Kong and is moderately popular among traders. The company falls short in the category of customer service when compared to other top companies and is significantly inferior to popular Forex brokers in many other respects also.
| Eightcap | Swissquote | |
|---|---|---|
| Overall Pros | a large number of trading assets | availability of a license from an authoritative regulator |
| Low fees | a wide range of financial services | |
| Good bonus programs | a large selection of deposit currencies | |
| Raw account avaible | ||
| Overall Cons | High minimum deposit - $100 | high spreads and commissions |
| lack of investment programs | large deposit | |
| few promotions, bonuses, contests, or other special offers |
Eightcap vs Swissquote: Safety and Regulation
| Regulated By: | Eightcap | Swissquote |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
ASIC, VFSC |
FINMA (Switzerland) |
Eightcap vs Swissquote: Trading Conditions
| Trading Conditions | Eightcap | Swissquote |
|---|---|---|
Minimum Deposit |
$100 |
$1000 |
Trading Platforms |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
MT4, MT5, Advanced Trader |
Max Leverage (Futures) |
1-30 for Australian clients and 1-500 for Non-AU clients |
1-100 |
Supported Markets |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
Forex, CFD, precious metals, stock indices, bonds, commodities, cryptocurrencies |
Trading assets |
3620+ |
10000+ |
Trading Accounts |
Standard Account, Raw Account, Demo |
Standard, Premium, Professional, Prime |
Base Account Currencies |
AUD, USD, GBP, NZD, SGD, EUR |
USD, EUR, JPY, GBP, CHF, CAD, AUD, TRY, PLN, SEK, NOK, SGD, XGD, HUF, CZK |
Eightcap vs Swissquote: Fees
Forex Trading Fees
| Fee | Eightcap | Swissquote |
|---|---|---|
Standard Account EURUSD Average Spread |
0.76 pips |
1.7 pips |
Standard Account Fee |
$0 |
15-50 CHF |
ECN/STP Account Fee |
$0 |
Not supported |
ECN Account EUR Average Spread |
0,06 pips |
Not supported |
CFD Trading Fees
| Fee | Eightcap | Swissquote |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Eightcap | Swissquote |
|---|---|---|
Account Fee |
No |
15-50 CHF |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank transfers have variable fees, typically about 25$ |
No |
Inactivity Fee |
No |
$10 per month after 6 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 Swissquote: Trading Assets
| Asset Name | Eightcap | Swissquote |
|---|---|---|
Overall |
3620+ |
10000+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
No |
Metals |
Yes |
Yes |
Cryptocurrencies |
Yes |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes |
Yes |
ETFs |
No |
No |
Bonds |
No |
Yes |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
Eightcap or Swissquote: Investment Programs
| Asset Name | Eightcap | Swissquote |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
Yes |
Managed Accounts |
No |
No |
Other |
No |
Themes Suggestions |
Trading Platforms: Swissquote or Eightcap
| Eightcap | Swissquote | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
Advanced Trader |
Others |
No |
No |
|
|
|
Eightcap vs Swissquote: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Eightcap | Swissquote |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
No |
No |
Eightcap vs Swissquote: Research
| Research Type | Eightcap | Swissquote |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Eightcap vs Swissquote: Education
| Education Type | Eightcap | Swissquote |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Cent account |
No |
No |
Swissquote vs Eightcap: Support
| Support Features | Eightcap | Swissquote |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
No |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Eightcap vs Swissquote: Forex Bonuses and Promo
| Promo | Eightcap | Swissquote |
|---|---|---|
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 |
Recommend Swissquote Bank and receive cash bonuses of up to CHF 800 for every customer you refer. |
Other Promos |
No |
|
|
|
|
Top 5 Reviews on Swissquote
-
Comment
A year ago, when I was a novice trader, I carefully studied the market and looked for a reliable broker to avoid possible fraudulent schemes. After a long search and analysis of many reviews and forums, I decided to choose Swissquote. It turned out to be the right choice. I did not regret my decision, as Swissquote turned out to be a reliable and professional company. I recommend this broker.
-
Comment
I have received positive experience for two years of trading with Swissquote. Their reliability, execution speed, and lack of requotes make trading convenient and enjoyable. The only thing I would like to improve is to expand the range of tools for technical analysis, including those designed for trading on stock markets. Overall, I recommend Swissquote to Forex traders.
-
Comment
Swissquote did not pass my own check. I made a deposit, traded a little, and saw serious issues. I have a lot of experience and problems with opening orders and the operation of the platform are obvious to me. Technical support is very weak.
-
Comment
Although Swissquote is considered good, I cannot write a positive review about it. The spread here is not 1.5 points, as stated on the website. The average spread for major currency pairs at Swissquote is 4-5 points without widening. During the night or during strong market movements, the spread can reach 15-20 points. My trading strategy cannot withstand such a spread.
-
Comment
Swissquote practices blocking traders who trade successfully and actively. Although the company does not prohibit active trading, it appears that there are still restrictions. At first, I was blocked from accessing my user account for a week precisely because of active trading. Then Swissquote introduced a limit on the number of trades per day - no more than two. It’s kind of nonsense, these restrictions are strange! There is no point in trading with the broker that does not allow you to open more than two trades per day.
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!