Compare Forex.com vs Eightcap
What is Forex.com? What is Eightcap?
Forex.com is a global forex and CFD broker that is part of the StoneX group, which also owns City Index. Forex.com offers trading on over 80 currency pairs, as well as other markets such as indices, shares, commodities, and cryptocurrencies. Forex.com is regulated by several authorities, including the FCA in the UK, the ASIC in Australia, and the CFTC in the US.
Eightcap is an Australian-based forex and CFD broker that was founded in 2009. Eightcap offers trading on over 40 currency pairs, as well as a wide range of other markets, including 250+ cryptocurrencies. Eightcap is regulated by the ASIC in Australia and the SCB in the Bahamas.
Forex.com vs Eightcap Regulation Comparison
Forex.com has a higher trust score than Eightcap, as it holds more tier-1 licenses from reputable regulators. Forex.com is authorized by 7 tier-1 regulators, including the FCA, the ASIC, the MAS, and the CFTC. Eightcap is authorized by 3 tier-1 regulators, namely the FCA, the ASIC, and the SCB.
Forex.com vs Eightcap Trading Assets Comparison
Forex.com offers more forex pairs than Eightcap, with 80+ vs 40+. However, Eightcap offers more cryptocurrency CFDs than Forex.com, with 250+ vs 8+. Both brokers offer a similar range of indices, shares, and commodities CFDs.
Forex.com vs Eightcap Trading Fees Comparison
Forex.com and Eightcap both offer two types of accounts: standard and raw. The standard account has no commission but higher spreads, while the raw account has lower spreads but charges a commission per trade. The average raw spread for EUR/USD is 0.06 pips for Eightcap and 0.73 pips for Forex.com. The commission for USD base currency is $3.50 per lot for Eightcap and $2-$6 per lot for Forex.com.
Forex.com vs Eightcap Account Types Comparison
Forex.com and Eightcap both offer two types of accounts: standard and raw. Forex.com and Eightcap both have a minimum deposit requirement of $100 for their standard accounts. For their raw accounts, Eightcap requires a minimum deposit of $250, while Forex.com requires $500. Both brokers offer swap-free accounts for Islamic traders, but only upon request.
Forex.com vs Eightcap Deposit Options Comparison
Forex.com offers more funding methods than Eightcap, with 8+ vs 4+. Both brokers accept credit/debit cards, bank transfers, and e-wallets such as Skrill and Neteller. However, Forex.com also accepts PayPal, UnionPay, BPay, and online banking. Neither broker charges any deposit or withdrawal fees.
Forex.com vs Eightcap Trading Platforms Comparison
Forex.com and Eightcap both offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as their main trading platforms. MT4 and MT5 are popular platforms that support automated trading, custom indicators, and advanced charting tools. However, Forex.com also has its own proprietary platform that is web-based and mobile-friendly. Eightcap does not have its own platform.
Forex.com vs Eightcap Analytical Tools Comparison
Forex.com provides more research and education resources than Eightcap. Forex.com offers market analysis, news, trading signals, webinars, podcasts, and trading courses. Eightcap offers market analysis, news, webinars, and trading guides. Both brokers provide an economic calendar and a trading calculator on their websites.
Forex.com vs Eightcap. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to which forex broker is better, as different traders may have different preferences and needs. However, here are some possible factors that you may consider when choosing between Forex.com and Eightcap:
- If you value trust and regulation, you may prefer Forex.com, as it has more tier-1 licenses and a longer history than Eightcap.
- If you trade mainly forex pairs, you may find Forex.com more suitable, as it offers more currency pairs and lower spreads than Eightcap.
- If you trade mainly cryptocurrencies, you may favor Eightcap, as it offers more crypto CFDs and lower commissions than Forex.com.
- If you want more funding options and a proprietary platform, you may like Forex.com better, as it accepts more payment methods and has its own web-based and mobile platform.
- If you want more research and education resources, you may also choose Forex.com, as it provides more market analysis, news, trading signals, webinars, podcasts, and trading courses 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 platforms, services, and features before making a final decision.
