Eightcap vs WorldForex (WForex) - Fees Review included
Which broker is better Eightcap or WorldForex (WForex)? 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. WorldForex (WForex) is one of the top brokers in the financial market with the TU Overall Score of 6.93 out of 10. Find out more about TU Overall Score.
| Feature | Eightcap | WorldForex (WForex) |
|---|---|---|
Overall |
2.9 |
4.2 |
3.3 |
2.1 |
|
3.7 |
4.1 |
|
3.7 |
4.1 |
|
Investment Instruments |
1 |
3.8 |
Platforms and Charting Tools |
3.5 |
3.9 |
Deposit and Withdrawal |
3.6 |
4.8 |
Research |
3.9 |
4.2 |
Education |
3.4 |
4.3 |
Support |
3.6 |
4.5 |
Bonuses |
4 |
4.5 |
|
|
|
Eightcap vs WorldForex (WForex): 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.
WForex carries on its activity in 50 countries in the world. It is a member of the Financial Commission for Dispute Resolution in the field of financial services in the international exchange market. World Forex coops with front developers, introducing modern tools that provide traders with safe and uninterrupted trading. The company is admitted as the best Forex digital contract broker.
| Eightcap | WorldForex (WForex) | |
|---|---|---|
| Overall Pros | a large number of trading assets | Auto trading |
| Low fees | ECN/STP accounts | |
| Good bonus programs | Safe-box account — high interests for trader's funds, free-and-easy converting and cash transferring between your trade accounts according to official bank rates | |
| Raw account avaible | 100% deposit bonus | |
| Overall Cons | High minimum deposit - $100 | Poor regulation |
| lack of investment programs |
Eightcap vs WorldForex (WForex): Safety and Regulation
| Regulated By: | Eightcap | WorldForex (WForex) |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
ASIC, VFSC |
British Virgin Islands (software license) |
Eightcap vs WorldForex (WForex): Trading Conditions
| Trading Conditions | Eightcap | WorldForex (WForex) |
|---|---|---|
Minimum Deposit |
$100 |
$1 |
Trading Platforms |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
MT4, WebTrader |
Max Leverage (Futures) |
1-30 for Australian clients and 1-500 for Non-AU clients |
W-Cent, W-Profi, W-Instant: 1:33 — 1:1000; W-ECN: 1:50 — 1:500; W-Crypto: 1:1 — 1:25 |
Supported Markets |
Forex, Cryptocurrencies, Indicies, Commodities, Shares |
Currency pairs, cryptocurrencies, metals, oil, shares, digital contracts |
Trading assets |
3620+ |
200+ |
Trading Accounts |
Standard Account, Raw Account, Demo |
W-Cent, W-Profi, W-Instant, W-Crypto, W-Digital |
Base Account Currencies |
AUD, USD, GBP, NZD, SGD, EUR |
USD, EUR |
Eightcap vs WorldForex (WForex): Fees
Forex Trading Fees
| Fee | Eightcap | WorldForex (WForex) |
|---|---|---|
Standard Account EURUSD Average Spread |
0.76 pips |
1.8 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$0 |
$0 |
ECN Account EUR Average Spread |
0,06 pips |
0.6 pips |
CFD Trading Fees
| Fee | Eightcap | WorldForex (WForex) |
|---|---|---|
CFD Trading Fee |
Floating spread |
Fixed or floating spread |
Non-Trading Fees
| Fee | Eightcap | WorldForex (WForex) |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank transfers have variable fees, typically about 25$ |
VISA - 4%+5 USD, Payment systems - 1-2.5% |
Inactivity Fee |
No |
Yes |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Eightcap vs WorldForex (WForex): Trading Assets
| Asset Name | Eightcap | WorldForex (WForex) |
|---|---|---|
Overall |
3620+ |
200+ |
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 WorldForex (WForex): Investment Programs
| Asset Name | Eightcap | WorldForex (WForex) |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: WorldForex (WForex) or Eightcap
| Eightcap | WorldForex (WForex) | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
No |
|
|
|
Eightcap vs WorldForex (WForex): Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Eightcap | WorldForex (WForex) |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
Eightcap vs WorldForex (WForex): Research
| Research Type | Eightcap | WorldForex (WForex) |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
No |
Eightcap vs WorldForex (WForex): Education
| Education Type | Eightcap | WorldForex (WForex) |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
WorldForex (WForex) vs Eightcap: Support
| Support Features | Eightcap | WorldForex (WForex) |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Callback form, feedback form |
Eightcap vs WorldForex (WForex): Forex Bonuses and Promo
| Promo | Eightcap | WorldForex (WForex) |
|---|---|---|
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 bonus of $100 when depositing from $10 |
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 |
You do not have to be a professional in trading to become a WForex partner. Now you can earn up to 85% of the spread on the turnover of traders attracted by participating in an affiliate program. |
Other Promos |
0; return of commission for depositing; contests on demo-accounts |
|
|
|
|
Top 5 Reviews on WorldForex (WForex)
-
Comment
WorldForex can be characterized as a decent broker offering a full range of services necessary for comfortable trading. There are some drawbacks, but they are not critical. For example, the absence of a loyalty program, occurrence of slippage during periods of strong market movement, and several other shortcomings. Overall, WorldForex provides decent trading conditions.
-
Comment
I've encountered issues with the trading terminal at WForex. Several of my trades were closed prematurely, even though they hadn't reached the stop-loss level yet. I reached out to customer support and waited for a response for about five days, but the problem remained unresolved. No one even started addressing it; they just declared it a technical glitch. Therefore, I don't recommend trading with WForex!
-
Comment
The Wforex broker has some trading issues. The terminal often lags, the platform may experience difficulties, and sometimes orders fail to open. The customer support also leaves much to be desired – they may not respond to inquiries or provide standard answers. Withdrawals also take a considerable amount of time, sometimes up to 15 days. As a result, I decided to close my account on the Wforex platform.
-
Comment
In the last few months of trading with WorldForex, I've come to realize that I urgently need to change brokers. This is because I withdraw my money approximately once or twice a month. There used to be no issues with fund withdrawals. However, now WorldForex has started delaying fund withdrawals by several weeks. I don't know what this is related to, but the broker is failing to fulfill its obligations to clients.
-
Comment
My trading with WForex ended in a complete loss of my capital. I had $2,000 in the account, plus I was able to increase it by another $400. I only withdrew $150 to my bank card. After withdrawing funds, I continued trading. Trades were opened on the EUR/JPY and GBP/JPY pairs. Neither take profit nor stop loss worked for me. Although these levels have been set. I was not near the computer, so I was not able to close my trades. The support service said that I didn’t do anything myself and refused to refund my losses. I will try to get my money back from WForex through the court.
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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.