Eightcap vs TD Ameritrade - Fees Review included
Which broker is better Eightcap or TD Ameritrade? 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. TD Ameritrade is one of the top brokers in the financial market with the TU Overall Score of 4.35 out of 10. Find out more about TU Overall Score.
| Feature | Eightcap | TD Ameritrade |
|---|---|---|
Overall |
2.9 |
4.7 |
3.3 |
4.9 |
|
3.7 |
4.9 |
|
3.7 |
4.7 |
|
Investment Instruments |
1 |
4.1 |
Platforms and Charting Tools |
3.5 |
5 |
Deposit and Withdrawal |
3.6 |
4.1 |
Research |
3.9 |
4.6 |
Education |
3.4 |
4.3 |
Support |
3.6 |
4.5 |
Bonuses |
4 |
4.3 |
|
|
Eightcap vs TD Ameritrade: 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.
TD Ameritrade is an American broker that provides top-notch online services for trading and investing in securities on the OTC markets. The company was founded in 1975 under the name First Omaha Securities. It was reimagined as an online broker in 1998. TD Ameritrade is a member of FINRA and SIPC and currently serves over 11 million client accounts. The broker offers simple pricing, high-tech trading platforms with professional analytics, and a wide range of markets and investment products. TD Ameritrade was named Best Online Broker 2020 by StockBrokers.com and ranked first in the Platforms & Tools, Beginners, Education, and Customer Service categories.
| Eightcap | TD Ameritrade | |
|---|---|---|
| Overall Pros | a large number of trading assets | One of the biggest international brokers |
| Low fees | The broker offers high-tech author's terminals that work from desktop or mobile device | |
| Good bonus programs | Huge choice of available markets and trading instruments, clients have open access to the securities market, OTC, derivatives trading, and legal work with Forex instruments | |
| Raw account avaible | The company does not charge fees for trading in American and Canadian stocks, options, and ETFs | |
| Low margin rates | ||
| The broker's regulators are FINRA, SEC and SIPC, which guarantee the protection of client funds and their return in the event of TD Ameritrade's bankruptcy or other default | ||
| Overall Cons | High minimum deposit - $100 | A high entry threshold has been set for margin trading and investment in managed portfolios |
| lack of investment programs |
Eightcap vs TD Ameritrade: Safety and Regulation
| Regulated By: | Eightcap | TD Ameritrade |
|---|---|---|
US Regulation |
No |
FINRA, SEC, CFTC |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
ASIC, VFSC |
SIPC protection up to $500.000 The Hong Kong Securities and Futures Commission, and the Monetary Authority of Singapore (MAS). |
Eightcap vs TD Ameritrade: Trading Conditions
| Trading Conditions | Eightcap | TD Ameritrade |
|---|---|---|
Minimum Deposit |
$100 |
$1 |
Trading Platforms |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
Classic web platform, NextGen web platform, TD Ameritrade Mobile, Thinkorswim (web, desktop, mobile) |
Max Leverage (Futures) |
1-30 for Australian clients and 1-500 for Non-AU clients |
1:2 |
Supported Markets |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
Stocks, Forex, ETFs, Mutual Funds, Bonds, Stock options, Commodity Futures, Currency futures, Cryptocurrencies, Hedge funds |
Trading assets |
3620+ |
18000+ |
Trading Accounts |
Standard Account, Raw Account, Demo |
Paper Account (Demo), Standard (Cash, Cash and Margin, Cash and Option, Cash, Margin and Option), Retirement (Traditional IRA, Roth IRA, Rollover IRA), Education (529 Plan, Coverdell), Specialty, Managed Portfolios |
Base Account Currencies |
AUD, USD, GBP, NZD, SGD, EUR |
USD |
Eightcap vs TD Ameritrade: Fees
Forex Trading Fees
| Fee | Eightcap | TD Ameritrade |
|---|---|---|
Standard Account EURUSD Average Spread |
0.76 pips |
1.2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$0 |
Not supported |
ECN Account EUR Average Spread |
0,06 pips |
Not supported |
CFD Trading Fees
| Fee | Eightcap | TD Ameritrade |
|---|---|---|
CFD Trading Fee |
Floating spread |
Not supported |
Non-Trading Fees
| Fee | Eightcap | TD Ameritrade |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank transfers have variable fees, typically about 25$ |
$25 per wire transfer, other withdrawal methods - free |
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 TD Ameritrade: Trading Assets
| Asset Name | Eightcap | TD Ameritrade |
|---|---|---|
Overall |
3620+ |
10000+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes |
Metals |
Yes |
Yes |
Cryptocurrencies |
Yes |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes |
Yes |
ETFs |
No |
Yes |
Bonds |
No |
Yes |
Mutual funds |
No |
Yes |
Stock options |
No |
Yes |
Futures Trading |
Yes |
Yes |
Binary Options |
No |
Yes |
Eightcap or TD Ameritrade: Investment Programs
| Asset Name | Eightcap | TD Ameritrade |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
Yes |
Other |
No |
Retirement plans, Bonds, Hedge Funds, Collateral Lending Program |
Trading Platforms: TD Ameritrade or Eightcap
| Eightcap | TD Ameritrade | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
Classic web platform, NextGen web platform, TD Ameritrade Mobile, Thinkorswim (web, desktop, mobile) |
Others |
No |
No |
|
|
Eightcap vs TD Ameritrade: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Eightcap | TD Ameritrade |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
No |
Electronic Wallets |
Yes |
No |
Crypto |
No |
Electronic bank deposit (ACH), asset transfer from another brokerage company, by check via mobile app, physical certificates of shares |
Eightcap vs TD Ameritrade: Research
| Research Type | Eightcap | TD Ameritrade |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
Yes |
Eightcap vs TD Ameritrade: Education
| Education Type | Eightcap | TD Ameritrade |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Cent account |
No |
No |
TD Ameritrade vs Eightcap: Support
| Support Features | Eightcap | TD Ameritrade |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
Yes |
yes |
Online chat |
Yes |
Yes |
Other |
No |
FB Messenger, teletype, fax |
Eightcap vs TD Ameritrade: Forex Bonuses and Promo
| Promo | Eightcap | TD Ameritrade |
|---|---|---|
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 |
Welcome bonus. When opening a brokerage account using the referral link of an existing client and making a deposit of $50,000, the new client receives from $150 to $1,000 on the balance. The exact amount of the bonus depends on the amount deposited. |
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 |
Referral program. A partner receives $50 for each attracted client who deposited $3,000 within 90 days from the date of opening an account. A partner can link a maximum of 10 friends and family members per day, but no more than 50 referrals per month. Not only a partner but also a referral can get from 150 to $1,000 to the account if they top it up with $50,000 or more. The offer is not available for individual retirement accounts (IRA) or for other accounts that are not taxed. |
Other Promos |
||
|
|
Top 5 Reviews on TD Ameritrade
-
Comment
In Thinkorswim by TD Ameritrade, money is hard to withdraw. I read reviews about Thinkorswim, there are a lot of real complaints about non-output. So I'm not the only one who was thrown in this office. I do not recommend anyone to trade here.
-
Comment
After 3 years, I decided to give TD Ameritrade a second chance, but nothing has changed here. As there were problems with the withdrawal of money, they remained, the commissions only increased. In general, there will be no quality trade here.
-
Comment
I have been trading for real since 2021 with them. Everything suited. In November, I decided to withdraw part of the funds. In general, December is in the yard, but there is no money. Gentlemen, draw your own conclusions.
-
Comment
18.08.2022 made an application, every day for some reason for which funds cannot be transferred. Since 23.08.2022, support has stopped responding altogether. if I had read the comments before, I would never have invested in this pyramid.
-
Comment
Big problem with withdrawals. Three weeks have passed since the withdrawal order was issued, the money is hanging on the deposit, appeals remain unanswered.
Top 5 Reviews on Eightcap
-
Comment
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-
Comment
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-
Comment
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-
Comment
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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.