Compare N1CM vs Eightcap
What is N1CM? What is Eightcap?
N1CM is a trading name of Number One Capital Markets, a broker that is licensed and regulated by the Vanuatu Financial Services Commission (VFSC). N1CM aims to combine technological responsiveness and attentive service to become a leading provider of forex trading. N1CM offers trading on the MT4 and MT5 platforms, with low spreads, fast execution, and various account types.
Eightcap is a broker that is authorized and regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). Eightcap provides award-winning trading platforms, zero commissions, free education, and tight spreads. Eightcap offers trading on the MT4 and MT5 platforms, as well as TradingView integration, daily trade ideas, professional trading insight, and code-free automation.
N1CM vs Eightcap Regulation Comparison
N1CM is regulated by the VFSC, which is a relatively low-tier jurisdiction that does not impose strict requirements on brokers. N1CM does not have any other licenses from reputable regulators such as ASIC, FCA, or CySEC. Therefore, N1CM may not be able to offer adequate protection and security to its clients.
Eightcap is regulated by both ASIC and VFSC, which means it has to comply with high standards of conduct and financial stability. ASIC is one of the most respected regulators in the world, with strict rules on client money segregation, capital adequacy, risk management, and dispute resolution. Therefore, Eightcap can be considered more trustworthy and reliable than N1CM.
N1CM vs Eightcap Trading Assets Comparison
N1CM offers trading on over 200 instruments across forex, indices, commodities, shares, metals, and cryptocurrencies. N1CM has 41 forex pairs, 10 indices, 4 commodities, 150 shares, 6 metals, and 5 cryptocurrencies.
Eightcap offers trading on over 800 instruments across forex, indices, shares, commodities, and cryptocurrencies. Eightcap has 42 forex pairs, 10 indices, 4 commodities, 736 shares (including ETFs), and 11 cryptocurrencies.
N1CM vs Eightcap Trading Fees Comparison
N1CM charges variable spreads on its Standard Account and fixed spreads on its Fixed Account. The average spread for EUR/USD on the Standard Account is 0.9 pips, while the fixed spread for EUR/USD on the Fixed Account is 2 pips. N1CM does not charge any commissions or fees on either account type.
Eightcap charges variable spreads on its Standard Account and raw spreads on its Raw Account. The average spread for EUR/USD on the Standard Account is 0.8 pips, while the raw spread for EUR/USD on the Raw Account is 0 pips. However, Eightcap charges a commission of $3.5 per lot per side on the Raw Account.
N1CM vs Eightcap Account Types Comparison
N1CM offers two account types: Standard and Fixed. The minimum deposit for both accounts is $10. The maximum leverage for both accounts is 1:1000 for forex and metals, 1:100 for indices and commodities, and 1:10 for shares and cryptocurrencies.
Eightcap offers two account types: Standard and Raw. The minimum deposit for both accounts is $100. The maximum leverage for both accounts is 1:30 for major forex pairs (and lower for other instruments) for clients under ASIC regulation, and up to 1:500 for clients under VFSC regulation.
N1CM vs Eightcap Deposit Options Comparison
N1CM supports various deposit and withdrawal methods such as bank wire transfer, credit/debit cards (Visa/Mastercard), e-wallets (Skrill/Neteller), cryptocurrencies (Bitcoin/Ethereum/Tether/Litecoin), local bank transfers (in selected countries), Perfect Money, WebMoney, FasaPay, PayTrust88 (for Malaysian clients), NganLuong.vn (for Vietnamese clients), Payeer (for Russian clients), PayCo (for Indonesian clients), PayRetailers (for Latin American clients), SticPay (for Asian clients), GlobePay (for Chinese clients), PayTM (for Indian clients), etc.
Eightcap supports fewer deposit and withdrawal methods such as bank wire transfer, credit/debit cards (Visa/Mastercard), e-wallets (Skrill/Neteller/Poli/PayPal), BPAY (for Australian clients), UnionPay (for Chinese clients), etc.
N1CM vs Eightcap Trading Platforms Comparison
N1CM and Eightcap both offer the MT4 and MT5 platforms, which are the most popular and widely used trading platforms in the forex industry. Both platforms have advanced charting, technical indicators, expert advisors, custom signals, and automated trading capabilities.
However, Eightcap also offers TradingView integration, which allows clients to trade directly from TradingView charts into an account with Eightcap. TradingView is a leading social trading network and charting platform that has over 30 million users worldwide. TradingView users can access premium charting packages, trading strategies, indicators, and custom scripts, as well as interact with other traders and share ideas.
N1CM vs Eightcap Analytical Tools Comparison
N1CM provides some analytical tools for its clients such as economic calendar, market news, trading signals (from MQL5 community), market analysis (from Trading Central), and Autochartist (a tool that scans the market for trading opportunities based on chart patterns and technical analysis).
Eightcap also provides some analytical tools for its clients such as economic calendar (powered by AI big data engine), market news, trading signals (from MQL5 community), market analysis (from Trading Central), Cryptocrusher (a dashboard that provides trade ideas for cryptocurrencies), Capitalise.ai (a tool that allows clients to create, test and automate trading strategies using everyday English), and FlashTrader (a tool that helps clients to target multiple profits, calculate position size, and place stops and limits in a flash).
N1CM vs Eightcap. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, trading goals and risk appetite. There is no definitive answer as to which broker is better, as different brokers may suit different traders. However, you can refer to some general guidelines to help you make an informed choice.
N1CM may be a better option for you if:
- You are looking for a broker that offers high leverage (up to 1:1000) and low minimum deposit ($10).
- You are interested in trading a variety of instruments, including shares and cryptocurrencies.
- You prefer fixed spreads over variable spreads or commissions.
- You want to use more payment methods, especially local ones.
Eightcap may be a better option for you if:
- You are looking for a broker that is regulated by ASIC, one of the most reputable regulators in the world.
- You are interested in trading more shares (including ETFs) and cryptocurrencies.
- You prefer raw spreads over fixed spreads or commissions.
- You want to use TradingView as your trading platform or integrate it with MT4 or MT5.
- You want to access unique analytical tools such as Cryptocrusher, Capitalise.ai, and FlashTrader.
Ultimately, the best way to decide which 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 platforms before committing to a real account.
