Compare Fortrade vs Eightcap
What is Fortrade? What is Eightcap?
Fortrade is a UK-based broker that provides online trading of currencies, indices, stocks, and commodities. It was founded in 2013 and is regulated by the Financial Conduct Authority (FCA) in the UK and the National Bank of the Republic of Belarus (NBRB) in Belarus.
Eightcap is an Australian broker that offers online trading of forex, indices, commodities, shares, and cryptocurrencies. It was established in 2009 and is regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).
Best Forex Brokers Ranking
| Rank | Broker | Review | Open Account | Bonus | Platform | Minimum Deposit | ECN |
|---|---|---|---|---|---|---|---|
| 1 | Exness |  | Open Exness account | 16$/lot | MT4, MT5, Exness, ... | 1$ | 10$ |
| 2 | IC Markets | | Open IC Markets account | - | MT4, MT5, cTrader | 200$ | 200$ |
| 3 | XM | | Open XM account | 30$ | MT4, MT5 | 5$ | - |
| 4 | XTB | | Open XTB account | 2000$ | MT4, xStation 5 | 1$ | 1$ |
| 5 | FBS | | Open FBS account | 140$ | MT4, MT5, FBS Trader | 1$ | 1000$ |
Fortrade vs Eightcap Regulation Comparison
Both brokers are regulated by reputable authorities in their respective jurisdictions. Fortrade is authorized by the FCA, which is one of the most stringent regulators in the world, and the NBRB, which is the central bank of Belarus. Fortrade also complies with the European Securities and Markets Authority (ESMA) rules and the Markets in Financial Instruments Directive (MiFID) II.
Eightcap is licensed by the ASIC, which is the Australian regulator that oversees financial markets and services, and the VFSC, which is the regulator of offshore financial services in Vanuatu. Eightcap also follows the rules of the Financial Transactions Reports Act (FTRA) and the Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF).
Fortrade vs Eightcap Trading Assets Comparison
Fortrade offers over 300 CFDs on various asset classes, including forex, indices, stocks, commodities, ETFs, and bonds. It also offers some cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple.
Eightcap offers over 800 CFDs on different asset classes, including forex, indices, commodities, shares, and cryptocurrencies. It has a wider range of cryptocurrencies than Fortrade, such as Bitcoin Cash, Bitcoin Gold, Dash, EOS, Monero, Stellar, and Zcash.
Fortrade vs Eightcap Trading Fees Comparison
Fortrade charges variable spreads on its CFDs, which depend on the market conditions and the asset type. It does not charge any commissions or hidden fees on its trades. It also does not charge any deposit or withdrawal fees.
Eightcap offers two types of accounts: Standard and Raw. The Standard account has no commissions but higher spreads, while the Raw account has lower spreads but charges a commission of $3.5 per lot per side. Eightcap also does not charge any deposit or withdrawal fees.
Fortrade vs Eightcap Account Types Comparison
Fortrade has only one type of live account for its clients, which requires a minimum deposit of $100. It also offers a free demo account for practice trading with virtual money.
Eightcap has two types of live accounts: Standard and Raw. The Standard account requires a minimum deposit of $100, while the Raw account requires a minimum deposit of $500. Both accounts have a maximum leverage of 1:500 for forex and 1:200 for other CFDs. Eightcap also offers a free demo account for practice trading with virtual money.
Fortrade vs Eightcap Deposit Options Comparison
Fortrade accepts various payment methods for deposits and withdrawals, such as credit/debit cards, bank wire transfers, Skrill, Neteller, Sofort, iDeal, Trustly, Giropay, Przelewy24, SafetyPay, AstroPay Card/Transfer/Direct/Bank Transfer/Boleto Bancario/Efecty/Pago Facil/Rapi Pago/Redpagos/Servipag/Webpay Plus.
Eightcap accepts fewer payment methods for deposits and withdrawals than Fortrade. It only supports credit/debit cards (Visa/Mastercard), bank wire transfers (local/international), Skrill/Neteller/Poli/PayPal/BPay/FasaPay/Broker to Broker Transfer.
Fortrade vs Eightcap Trading Platforms Comparison
Fortrade supports three types of trading platforms: WebTrader (web-based), MetaTrader 4 (MT4), and Mobile Trader (iOS/Android). WebTrader is a proprietary platform that has an intuitive interface and advanced features such as charting tools, indicators, news feeds, economic calendar, risk management tools, etc. MT4 is a popular platform that has many features such as automated trading with Expert Advisors (EAs), custom indicators and signals, multiple order types and execution modes, etc. Mobile Trader is an app that allows traders to access their accounts and trade on the go.
Eightcap supports four types of trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, and Mobile Trader (iOS/Android). MT4 and MT5 are similar to Fortrade’s MT4, but MT5 has some additional features such as more timeframes, more order types, more indicators, a built-in economic calendar, etc. TradingView is a web-based platform that integrates with Eightcap and allows traders to trade directly from the charts, chat with other traders, access various analytical tools, etc. Mobile Trader is an app that allows traders to access their accounts and trade on the go.
Fortrade vs Eightcap Analytical Tools Comparison
Fortrade provides various analytical tools for its clients, such as market analysis, free educational resources, daily trade ideas, professional trading insight, and code-free automation with Capitalise.ai. Capitalise.ai is a tool that allows traders to create, test, and automate trading strategies using natural language.
Eightcap also provides various analytical tools for its clients, such as market analysis, free educational resources, weekly trade ideas, weekly market forecasts, mid-week commentary webinars, AI-powered economic calendar, interactive live events, and Eightcap Labs. Eightcap Labs is a tool that helps traders develop their trading skills with practical exercises and feedback.
Fortrade vs Eightcap. Which forex broker is better? Which forex broker should you choose?
Fortrade and Eightcap are both reputable and regulated forex brokers that offer a variety of trading assets, platforms, and tools. However, they also have some differences that may suit different types of traders. Here are some factors that you may want to consider when choosing between them:
- Trading Assets: Eightcap has a wider range of trading assets than Fortrade, especially in cryptocurrencies. If you are interested in trading more than just forex, indices, stocks, and commodities, you may prefer Eightcap over Fortrade.
- Trading Fees: Fortrade has a simpler fee structure than Eightcap, as it only charges variable spreads and no commissions. Eightcap has two types of accounts that have different fees: the Standard account has no commissions but higher spreads, while the Raw account has lower spreads but charges a commission of $3.5 per lot per side. Depending on your trading style and volume, you may find one account more cost-effective than the other.
- Trading Platforms: Both brokers support MT4 and mobile trading apps, but they also have some unique platforms. Fortrade has its own WebTrader platform that has an intuitive interface and advanced features. Eightcap has MT5 and TradingView platforms that have more timeframes, order types, indicators, and charting tools. If you are looking for a proprietary platform or a web-based platform, you may have different preferences between the two brokers.
- Analytical Tools: Both brokers provide various analytical tools for their clients, such as market analysis, educational resources, trade ideas, webinars, etc. However, they also have some distinctive tools that may appeal to different traders. Fortrade has Capitalise.ai, which allows traders to create, test, and automate trading strategies using natural language. Eightcap has Eightcap Labs, which helps traders develop their trading skills with practical exercises and feedback.
Ultimately, the choice between Fortrade and Eightcap depends on your personal preferences and needs as a trader. You may want to try out their free demo accounts to get a feel of their platforms and services before making a decision. You can also check out their websites for more information and reviews from other traders .
