Compare Axi vs Eightcap
What is Axi? What is Eightcap?
Axi and Eightcap are both online forex brokers that offer trading services to clients around the world. They are both regulated by the Australian Securities and Investments Commission (ASIC) and other reputable authorities in different jurisdictions. They both provide access to the MetaTrader 4 (MT4) platform, which is one of the most widely used trading platforms in the industry. However, they also have some distinctive features that set them apart from each other.
Axi vs Eightcap Regulation Comparison
Axi and Eightcap are both regulated by ASIC, which is one of the most respected regulators in the forex market. ASIC imposes strict rules and standards on its licensed brokers, such as maintaining adequate capital, segregating client funds, providing fair and transparent services, and complying with anti-money laundering and consumer protection laws. ASIC also offers a compensation scheme for eligible clients in case of broker insolvency.
However, Axi has more regulatory licenses than Eightcap, as it is also authorized by the Financial Conduct Authority (FCA) in the UK, the Dubai Financial Services Authority (DFSA) in the UAE, and the Securities Commission of The Bahamas (SCB). These regulators also have high standards and offer additional protection to clients in their respective regions. For example, FCA-regulated brokers must adhere to the Financial Services Compensation Scheme (FSCS), which can cover up to £85,000 per client in case of broker default.
Eightcap, on the other hand, only has one additional license from the Vanuatu Financial Services Commission (VFSC), which is a less reputable regulator that has lower requirements and oversight for its brokers. Therefore, Axi has an edge over Eightcap in terms of regulation and credibility.
Axi vs Eightcap Trading Assets Comparison
Axi and Eightcap both offer a wide range of trading instruments for their clients, including forex, indices, commodities, cryptocurrencies, and CFDs. However, they differ in the number and variety of assets they provide.
Axi has more forex pairs than Eightcap, with 72 vs 40+. Axi also has more indices (31+ vs 10+) and commodities (16+ vs 4+) to trade with. However, Eightcap has more cryptocurrencies (250+ vs 11+) and shares (400+ vs 0) than Axi.
Axi vs Eightcap Trading Fees Comparison
| Broker | Standard Account Spread (EUR/USD) | Raw Account Spread (EUR/USD) |
|---|---|---|
| Axi | 1.2 pips | N/A |
| Eightcap | 1.06 pips | 0.06 pips |
Axi vs Eightcap Account Types Comparison
Axi and Eightcap both offer two types of accounts for their clients: a standard account and a raw account. The main difference between these accounts is the fee structure, as explained above. However, they also have some other differences in terms of the minimum deposit, the swap-free option, and the inactivity fees.
Axi has a lower minimum deposit than Eightcap, as it does not require any minimum amount to open an account. Eightcap, on the other hand, requires a minimum deposit of $250 for a raw account and $500 for a standard account. Therefore, Axi may be more accessible for traders with smaller budgets or who want to test the broker’s services before committing more funds.
Axi also offers a swap-free option for Islamic traders who want to avoid paying or receiving interest on their positions overnight. This option is not available for Eightcap clients. However, Axi charges an inactivity fee of $10 per month after 12 months of no trading activity, while Eightcap does not charge any inactivity fees. Therefore, you should consider your trading frequency and preferences when choosing an account type.
Axi vs Eightcap Deposit Options Comparison
| Broker | Deposit and Withdrawal Options | Supported Currencies |
|---|---|---|
| Axi | 12+ | 10 |
| Eightcap | 8+ | 6 |
Axi vs Eightcap Trading Platforms Comparison
| Broker | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) |
|---|---|---|
| Axi | Yes | No |
| Eightcap | Yes | Yes |
Axi vs Eightcap Analytical Tools Comparison
| Broker | Market News | Economic Calendar | Trading Signals | Social Trading Platforms | Webinars | Tutorials | Blogs |
|---|---|---|---|---|---|---|---|
| Axi | Yes | Yes | Yes | Autochartist, PsyQuation, DupliTrade | Yes | Yes | Yes |
| Eightcap | Yes | Yes | Yes | None | Yes | Yes | Yes |
Axi vs Eightcap. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer as to which forex broker is better or which one you should choose, as it depends on your personal preferences, trading goals and risk appetite. However, there are a few factors you can consider:
- If you value regulation and credibility, you may prefer Axi over Eightcap, as Axi has more regulatory licenses from reputable authorities than Eightcap.
- If you value trading diversity and variety, you may prefer Eightcap over Axi, as Eightcap has more cryptocurrencies and shares than Axi.
- If you value trading costs and fees, you may prefer Eightcap over Axi, as Eightcap has lower average spreads than Axi on both standard and raw accounts for some of the major currency pairs.
- If you value account accessibility and flexibility, you may prefer Axi over Eightcap, as Axi has a lower minimum deposit than Eightcap and offers a swap-free option for Islamic traders.
- If you value trading platforms and technology, you may prefer Eightcap over Axi, as Eightcap offers access to both MT4 and MT5 platforms, while Axi only offers access to MT4.
- If you value analytical tools and social trading options, you may prefer Axi over Eightcap, as Axi offers three social trading platforms and more educational resources than Eightcap.
Ultimately, the best way to decide which forex broker is better for you is to try them out yourself. You can open a demo account with both brokers and test their services and features before opening a live account. You can also read more reviews and feedback from other traders who have used both brokers. This way, you can make an informed and confident decision that suits your trading needs.
