Eightcap vs Trade Nation - Fees Review included
Which broker is better Eightcap or Trade Nation? 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. Trade Nation is one of the top brokers in the financial market with the TU Overall Score of 7.34 out of 10. Find out more about TU Overall Score.
| Feature | Eightcap | Trade Nation |
|---|---|---|
Overall |
2.9 |
2.8 |
3.3 |
3.8 |
|
3.7 |
3.2 |
|
3.7 |
3.6 |
|
Investment Instruments |
1 |
1.7 |
Platforms and Charting Tools |
3.5 |
1.9 |
Deposit and Withdrawal |
3.6 |
2.4 |
Research |
3.9 |
3.6 |
Education |
3.4 |
1.5 |
Support |
3.6 |
2.3 |
Bonuses |
4 |
3.9 |
|
|
|
Eightcap vs Trade Nation: 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.
Trade Nation is an STP broker with its head office in London. It works with traders of the European and Asian regions. The company belongs to the classical medium-tier brokers with a standard set of trading assets and instruments. Its regulators are: FCA (UK), ASIC (Australia), FSCA (South Africa), and SCB (Bahamas).
| Eightcap | Trade Nation | |
|---|---|---|
| Overall Pros | a large number of trading assets | Availability of licenses from four regulators. This indicates that the broker is subject to constant review by auditors with diverse requirements. |
| Low fees | Segregation of client accounts. Traders' money is deposited into separate accounts at Barclays bank. | |
| Good bonus programs | Relatively narrow fixed spreads. | |
| Raw account avaible | Proprietary trading platform that complements MT4. | |
| There's an online Trade Nation community of traders that shares information, knowledge, and trading strategies, all of which raise members’ professional trading skills. | ||
| Overall Cons | High minimum deposit - $100 | A small selection of payment systems. The broker works mainly through the banks. |
| lack of investment programs | There is a minimum withdrawal amount. | |
| Support service in the chat and via email is unprofessionally slow in responding to your inquiries. |
Eightcap vs Trade Nation: Safety and Regulation
| Regulated By: | Eightcap | Trade Nation |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
Yes |
Other Regulators |
ASIC, VFSC |
FSCA (South Africa), SCB (Bahamas). |
Eightcap vs Trade Nation: Trading Conditions
| Trading Conditions | Eightcap | Trade Nation |
|---|---|---|
Minimum Deposit |
$100 |
$1 |
Trading Platforms |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
МТ4, Trade Nation proprietary terminal |
Max Leverage (Futures) |
1-30 for Australian clients and 1-500 for Non-AU clients |
1-200 |
Supported Markets |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
Currency pairs, commodities, and stock markets assets |
Trading assets |
3620+ |
2090+ |
Trading Accounts |
Standard Account, Raw Account, Demo |
Standard Account, Low Leverage, High Leverage, Islamic Account, and Demo Account. |
Base Account Currencies |
AUD, USD, GBP, NZD, SGD, EUR |
GBP, USD, EUR, AUD, ZAR, DKK, NOK, and SEK |
Eightcap vs Trade Nation: Fees
Forex Trading Fees
| Fee | Eightcap | Trade Nation |
|---|---|---|
Standard Account EURUSD Average Spread |
0.76 pips |
0.6 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$0 |
Not supported |
ECN Account EUR Average Spread |
0,06 pips |
Not supported |
CFD Trading Fees
| Fee | Eightcap | Trade Nation |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating and fixed spreads |
Non-Trading Fees
| Fee | Eightcap | Trade Nation |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank transfers have variable fees, typically about 25$ |
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 Trade Nation: Trading Assets
| Asset Name | Eightcap | Trade Nation |
|---|---|---|
Overall |
3620+ |
2090+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes |
No |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
Yes |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
Yes |
Binary Options |
No |
No |
Eightcap or Trade Nation: Investment Programs
| Asset Name | Eightcap | Trade Nation |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Trade Nation or Eightcap
| Eightcap | Trade Nation | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
Trade Nation |
Others |
No |
No |
|
|
|
Eightcap vs Trade Nation: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Eightcap | Trade Nation |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
Eightcap vs Trade Nation: Research
| Research Type | Eightcap | Trade Nation |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
No |
Eightcap vs Trade Nation: Education
| Education Type | Eightcap | Trade Nation |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
No |
No |
Cent account |
No |
No |
Trade Nation vs Eightcap: Support
| Support Features | Eightcap | Trade Nation |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
No |
Other |
No |
No |
Eightcap vs Trade Nation: Forex Bonuses and Promo
| Promo | Eightcap | Trade Nation |
|---|---|---|
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 |
The Trade Nation loyalty program awards points for every trade executed. In the future, the points can be exchanged for compensation of trading expenses up to 20%. Also, the broker gives 1,000 points to everyone who opens a real account and gets verified. Due to regulatory restrictions, the loyalty program does not work for traders from the UK and Australia. |
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 |
The variants of partnership programs include: Revenue share plan. The partner receives a percentage of the income that referrals receive at the expense of the spread paid by them; CPA plan. A partner gets a fixed payment for each attracted client following verification; Hybrid plan. This program combines the advantages of both variants and allows you to receive a certain percentage of interest and a fixed fee based on the trades of the referee. |
Other Promos |
||
|
|
|
Top 5 Reviews on Trade Nation
-
Comment
Payments at Trade Nation are exact. I have withdrawn a couple of times. Of course, the amounts were small, but I didn’t hear any complaints about large ones either. So I recommend the broker.
-
Comment
Traded with Trade Nation a few years ago. There is no decency here, guys. If you still decide to trade here, read the regulations very, very carefully. They can find a lot of violations in your trading and take your money. These are scammers.
-
Comment
In short, this is a scam company. We do. what do we want and what will you do for us? Due to a malfunction in the chart, I did not close a number of positions. Similar positions with two other brokers closed at the same time at the same time. This is a scam, I do not recommend!
-
Comment
People, do not even allow the thought to mess with these Fraudsters with a capital letter. Very cruel, psychologically trained nonhumans! By deceit they will pull everything to the penny, merge it! And you will be blamed for everything. I personally experienced all their psychological tricks.
-
Comment
As for me, it's nothing special. A typical broker with no deposit requirements who earns on spread markup. It does not charge any additional fees, including for making a deposit and withdrawing funds. Trade Nation has a loyalty program. According to its terms, for each closed transaction, the broker accrues some points, which can then partially cover trading commissions. If you wish, you can quickly get used to the author's Trade Nation terminal, because its interface is similar to MetaTrader. But the broker also offers MT4, so you can trade with it and not bother. Trade Nation is regulated in several jurisdictions, which is good, but it does not offer a choice of accounts, which is a minus.
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!