Compare Eightcap vs RoboMarkets
What is Eightcap? What is RoboMarkets?
Eightcap is an online forex broker that was founded in 2009 and is regulated by the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA) of the UK, and the Securities Commission of The Bahamas (SCB). Eightcap offers trading on over 700 instruments, including forex, indices, commodities, shares, and cryptocurrencies.
RoboMarkets (formerly known as RoboForex) is an online forex broker that was founded in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the International Financial Services Commission (IFSC) of Belize. RoboMarkets offers trading on over 12,000 instruments, including forex, stocks, indices, ETFs, commodities, metals, energies, and cryptocurrencies.
Eightcap vs RoboMarkets Regulation Comparison
Both Eightcap and RoboMarkets are regulated by reputable authorities in their respective jurisdictions. However, Eightcap has a higher trust score than RoboMarkets. This is because Eightcap holds three global Tier-1 licenses from ASIC, FCA, and SCB, while RoboMarkets holds only one global Tier-1 license from CySEC. Tier-1 licenses are considered to be the most stringent and reliable in terms of investor protection and oversight.
Eightcap vs RoboMarkets Trading Assets Comparison
Both Eightcap and RoboMarkets offer a wide range of trading assets to their clients. However, RoboMarkets has a much larger number of tradable symbols than Eightcap, with 12,000 CFDs compared to 736 CFDs. RoboMarkets also offers more forex pairs than Eightcap, with 36 pairs compared to 42 pairs. Moreover, RoboMarkets provides access to non-CFD stock trading on US and European markets, while Eightcap does not offer this option.
Eightcap vs RoboMarkets Trading Fees Comparison
Both Eightcap and RoboMarkets charge competitive fees for their trading services. However, the exact fees may vary depending on the account type, trading platform, instrument, and market conditions. Generally speaking, both brokers offer commission-free accounts with variable spreads, as well as commission-based accounts with tighter spreads. The commission rates and minimum spreads may differ depending on the broker and the account type.
For example, Eightcap charges $3.5 per lot per side for its Raw account, while RoboMarkets charges $2 per lot per side for its Prime account. The minimum spreads for EUR/USD are 0 pips for both brokers’ Raw/Prime accounts, but 1 pip for both brokers’ Standard accounts.
Eightcap vs RoboMarkets Account Types Comparison
Both Eightcap and RoboMarkets offer different account types to suit the needs and preferences of different traders. However, the account types may have different features and requirements depending on the broker. For example, Eightcap offers two account types: Standard and Raw. The Standard account has no commissions but higher spreads, while the Raw account has lower spreads but commissions. The minimum deposit for both accounts is $100.
On the other hand, RoboMarkets offers six account types: Pro-Cent, Pro-Standard, ECN-Pro NDD, Prime, R Trader (Stocks), and R Trader (CFDs). The Pro-Cent and Pro-Standard accounts have no commissions but variable spreads, while the ECN-Pro NDD and Prime accounts have commissions but tighter spreads. The R Trader accounts are for non-CFD stock trading with commissions and fixed spreads. The minimum deposit for all accounts except Prime is $10. The minimum deposit for Prime is $5,000.
Eightcap vs RoboMarkets Deposit Options Comparison
Both Eightcap and RoboMarkets offer various deposit and withdrawal options to their clients. However, the availability and fees of these options may vary depending on the broker and the country of residence of the client. Generally speaking, both brokers accept credit/debit cards, bank transfers, e-wallets (such as Skrill and Neteller), and cryptocurrencies as payment methods. However, some methods may have additional fees or limitations depending on the broker. For example, Eightcap charges a 3% fee for credit/debit card deposits over $10,000, while RoboMarkets charges a 2% fee for Skrill withdrawals over €10.
Eightcap vs RoboMarkets Trading Platforms Comparison
Both Eightcap and RoboMarkets offer the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms to their clients. These platforms are widely used and trusted by traders around the world, as they offer advanced trading tools, indicators, charts, and automated trading features.
However, RoboMarkets also offers its own proprietary platform called R Trader, which is designed for non-CFD stock trading. R Trader is a web-based platform that allows traders to access over 12,000 stocks and ETFs from US and European markets, as well as create and test their own trading strategies using the built-in Strategy Builder.
Eightcap vs RoboMarkets Analytical Tools Comparison
Both Eightcap and RoboMarkets provide various analytical tools to help their clients make informed trading decisions. However, RoboMarkets offers more comprehensive and diverse tools than Eightcap.
For example, RoboMarkets offers a range of market research tools, such as daily market analysis, economic calendar, trading signals, trading calculators, and webinars. RoboMarkets also offers social trading and copy trading features through its CopyFX and RAMM platforms. On the other hand, Eightcap offers fewer research tools, such as an economic calendar, market news, and technical analysis. Eightcap also offers social trading and copy trading features through its partnership with ZuluTrade.
Eightcap vs RoboMarkets. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to which forex broker is better or which one you should choose, as different brokers may have different advantages and disadvantages depending on your trading goals, preferences, and needs. However, you can consider some of the following factors to help you make your decision:
- Regulation: If you value the security and protection of your funds and personal data, you may prefer a broker that is regulated by a reputable authority in a well-established jurisdiction. In this case, Eightcap may have an edge over RoboMarkets, as it holds three global Tier-1 licenses from ASIC, FCA, and SCB, while RoboMarkets holds only one global Tier-1 license from CySEC.
- Trading Assets: If you want to diversify your portfolio and trade on a variety of instruments, you may prefer a broker that offers a large number of tradable symbols and markets. In this case, RoboMarkets may have an edge over Eightcap, as it offers over 12,000 CFDs on forex, stocks, indices, ETFs, commodities, metals, energies, and cryptocurrencies. RoboMarkets also offers non-CFD stock trading on US and European markets, while Eightcap does not offer this option.
- Trading Fees: If you want to minimize your trading costs and maximize your profits, you may prefer a broker that charges low fees for its trading services. In this case, both Eightcap and RoboMarkets charge competitive fees for their trading services. However, the exact fees may vary depending on the account type, trading platform, instrument, and market conditions. Generally speaking, both brokers offer commission-free accounts with variable spreads, as well as commission-based accounts with tighter spreads. The commission rates and minimum spreads may differ depending on the broker and the account type. You may want to compare the fees for the specific instruments and platforms that you intend to trade on before choosing a broker.
- Account Types: If you want to choose an account type that suits your trading style and experience level, you may prefer a broker that offers different account types with different features and requirements. In this case, both Eightcap and RoboMarkets offer different account types to suit the needs and preferences of different traders. However, the account types may have different features and requirements depending on the broker. You may want to compare the account types for the specific features and requirements that you are looking for before choosing a broker.
- Deposit and Withdrawal Options: If you want to fund your account and withdraw your profits easily and conveniently, you may prefer a broker that offers various deposit and withdrawal options with low or no fees. In this case, both Eightcap and RoboMarkets offer various deposit and withdrawal options to their clients. However, the availability and fees of these options may vary depending on the broker and the country of residence of the client. You may want to check the deposit and withdrawal options for your preferred payment method and currency before choosing a broker.
- Trading Platforms: If you want to trade on a reliable and user-friendly platform that offers advanced trading tools, indicators, charts, and automated trading features, you may prefer a broker that offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. In this case, both Eightcap and RoboMarkets offer MT4 and MT5 to their clients. However, RoboMarkets also offers its own proprietary platform called R Trader, which is designed for non-CFD stock trading. You may want to try out the demo versions of the platforms before choosing a broker.
- Analytical Tools: If you want to access various analytical tools to help you make informed trading decisions, you may prefer a broker that provides comprehensive and diverse market research tools, such as daily market analysis, economic calendar, trading signals, trading calculators, webinars. You may also prefer a broker that offers social trading and copy trading features to follow or copy other successful traders. In this case, RoboMarkets may have an edge over Eightcap, as it offers more comprehensive and diverse research tools than Eightcap. RoboMarkets also offers social trading and copy trading features through its CopyFX and RAMM platforms.
