Compare ForexMart vs Eightcap
What is ForexMart? What is Eightcap?
ForexMart is an online broker that provides trading services for forex, metals, cryptocurrencies, and CFDs on stocks, indices, and commodities. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the UK. It offers various account types, trading platforms, and analytical tools to suit different trading needs and preferences.
Eightcap is an online broker that provides trading services for forex, indices, commodities, cryptocurrencies, and CFDs on stocks and bonds. It is regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Services Authority of Seychelles (FSA SC) . It offers a range of trading platforms, including MetaTrader 4, MetaTrader 5, TradingView, and FlashTrader.
ForexMart vs Eightcap Regulation Comparison
Both ForexMart and Eightcap are regulated by reputable authorities in their respective jurisdictions. ForexMart holds licenses from CySEC and FCA, which are among the top regulators in Europe. These licenses ensure that ForexMart complies with strict rules on client protection, fund segregation, capital adequacy, and transparency. ForexMart also participates in the Investor Compensation Fund (ICF), which covers up to 20,000 euros per client in case of broker insolvency.
Eightcap holds licenses from ASIC and FSA SC, which are also well-known regulators in the Asia-Pacific region. These licenses ensure that Eightcap follows high standards of conduct, risk management, and dispute resolution. Eightcap also segregates client funds from its own funds and holds them in Tier 1 banks.
ForexMart vs Eightcap Trading Assets Comparison
ForexMart offers more than 300 tradable instruments across various asset classes. These include over 100 currency pairs, 4 metals, 2 energies, 10 cryptocurrencies, and CFDs on 50 stocks, 13 indices, and 4 commodities.
Eightcap offers over 800 tradable instruments across various asset classes. These include over 40 currency pairs, 15 indices, 6 commodities, 6 cryptocurrencies, and CFDs on over 700 stocks and 30 bonds.
ForexMart vs Eightcap Trading Fees Comparison
ForexMart charges variable spreads on its trading instruments, which depend on the account type and market conditions. The average spread for the EUR/USD pair is 0.8 pips on the Standard account and 0 pips on the Zero Spread account. ForexMart does not charge any commissions on its Standard account, but charges $20 per lot on its Zero Spread account. ForexMart also charges swap fees for holding positions overnight, unless the client opts for an Islamic account that is swap-free.
Eightcap also charges variable spreads on its trading instruments, which depend on the account type and market conditions. The average spread for the EUR/USD pair is 1 pip on the Standard account and 0 pips on the Raw account. Eightcap does not charge any commissions on its Standard account, but charges $3.5 per lot per side on its Raw account. Eightcap also charges swap fees for holding positions overnight, unless the client opts for an Islamic account that is swap-free.
ForexMart vs Eightcap Account Types Comparison
ForexMart offers four types of accounts: Standard, Zero Spread, Micro, and ECN. The Standard account has a minimum deposit of $1 and offers variable spreads from 1 pip with no commission. The Zero Spread account has a minimum deposit of $1 and offers zero spreads with a commission of $20 per lot. The Micro account has a minimum deposit of $1 and offers variable spreads from 1 pip with no commission, but with a maximum leverage of 1:1000 and a maximum order size of 0.01 lot. The ECN account has a minimum deposit of $300 and offers variable spreads from 0 pips with a commission of $2 per lot.
Eightcap offers two types of accounts: Standard and Raw. The Standard account has a minimum deposit of $100 and offers variable spreads from 1 pip with no commission. The Raw account has a minimum deposit of $100 and offers zero spreads with a commission of $3.5 per lot per side.
ForexMart vs Eightcap Deposit Options Comparison
ForexMart supports various deposit and withdrawal methods, including bank transfer, Visa, Mastercard, Maestro, Skrill, Neteller, PayPal, PayCo, Paxum, Qiwi, and crypto wallets. ForexMart does not charge any fees for deposits and withdrawals, but the payment providers may charge their own fees. The processing time for deposits and withdrawals varies depending on the method, but it is usually within 24 hours for e-wallets and cards, and up to 5 business days for bank transfers.
Eightcap supports various deposit and withdrawal methods, including bank transfer, Visa, Mastercard, Skrill, Neteller, POLi, BPAY, China UnionPay, XPAY Internet Banking, XPAY QR Code, Tether, and Bitcoin. Eightcap does not charge any fees for deposits and withdrawals, but the payment providers may charge their own fees. The processing time for deposits and withdrawals varies depending on the method, but it is usually instant for e-wallets and cards, and up to 3 business days for bank transfers.
ForexMart vs Eightcap Trading Platforms Comparison
ForexMart offers three trading platforms: MetaTrader 4, WebTrader, and Mobile Trader. MetaTrader 4 is a popular and powerful platform that supports advanced charting, technical analysis, expert advisors, custom indicators, and automated trading. WebTrader is a web-based platform that allows traders to access their accounts and trade from any browser without downloading or installing any software. Mobile Trader is a mobile app that allows traders to access their accounts and trade from their smartphones or tablets.
Eightcap offers four trading platforms: MetaTrader 4, MetaTrader 5, TradingView, and FlashTrader. MetaTrader 4 and MetaTrader 5 are similar to ForexMart’s platforms, but MetaTrader 5 has some additional features such as more timeframes, more order types, more indicators, and more instruments. TradingView is a web-based platform that allows traders to trade directly from TradingView charts with Eightcap accounts. TradingView also offers a social network of traders, a premium package of charting tools, trading strategies, indicators, and signals. FlashTrader is a web-based platform that allows traders to place multiple orders, calculate position size, and set stops and limits with one click.
ForexMart vs Eightcap Analytical Tools Comparison
ForexMart offers various analytical tools to help traders make informed decisions. These include economic calendar, market news, technical analysis reviews, forex calculators, VPS service, and copy trading service. ForexMart also offers a 30% welcome bonus for new clients who deposit at least $100.
Eightcap offers various analytical tools to help traders make informed decisions. These include economic calendar powered by AI big data engine, market news powered by Reuters News Agency, weekly market forecasts and mid-week commentary webinars by experts, trade ideas powered by Crypto Crusher dashboard, and code-free automation powered by Capitalise.ai. Eightcap also offers a loyalty program that rewards clients with cash rebates based on their trading volume.
ForexMart vs Eightcap. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is a personal decision that depends on your trading goals, preferences, and risk appetite. There is no definitive answer to which broker is better, as each broker has its own strengths and weaknesses. However, you can compare some of the main features and factors of ForexMart and Eightcap and decide which one suits you better.
Some of the aspects you may want to consider are:
- Regulation: Both brokers are regulated by reputable authorities, but ForexMart has licenses from two European regulators (CySEC and FCA), while Eightcap has licenses from two Asia-Pacific regulators (ASIC and FSA SC). Depending on your location and trading needs, you may prefer one jurisdiction over another for legal protection, fund security, and dispute resolution.
- Trading Assets: Eightcap offers more trading instruments than ForexMart, especially in the stock and bond CFDs. If you are interested in diversifying your portfolio and trading a wide range of markets, you may find Eightcap more appealing. However, if you are mainly focused on forex and cryptocurrency trading, you may find ForexMart sufficient for your needs.
- Trading Fees: Both brokers offer competitive spreads and commissions, but they differ in their account types and fee structures. ForexMart offers four account types with different minimum deposits, spreads, commissions, and leverage. Eightcap offers two account types with the same minimum deposit but different spreads and commissions. You may want to compare the costs and benefits of each account type and choose the one that fits your budget and trading style.
- Trading Platforms: Both brokers offer MetaTrader 4 as their main trading platform, but they also offer other platforms with different features and functionalities. Eightcap offers MetaTrader 5, TradingView, and FlashTrader as additional platforms, while ForexMart offers WebTrader and Mobile Trader as alternative platforms. You may want to test the platforms and see which one you prefer in terms of user interface, performance, tools, and compatibility.
- Analytical Tools: Both brokers offer various analytical tools to help you with your trading decisions, such as economic calendars, market news, technical analysis reviews, forex calculators, etc. However, Eightcap also offers some unique tools powered by AI big data engine, Reuters News Agency, Crypto Crusher dashboard, Capitalise.ai, etc. These tools may give you an edge in finding trade opportunities, executing trades automatically, and earning cash rebates.
- Bonuses and Promotions: Both brokers offer some incentives for new and existing clients, such as welcome bonuses, loyalty programs, copy trading services, VPS services, etc. You may want to check the terms and conditions of these offers and see which one appeals to you more.
Ultimately, the best way to choose a forex broker is to try them out yourself. You can open demo accounts with both brokers and practice trading with virtual money. This way, you can experience their services firsthand and see how they perform in real market conditions. You can also contact their customer support teams and ask any questions you may have.
