Compare SimpleFX vs Eightcap
What is SimpleFX? What is Eightcap?
SimpleFX is a free trading and investing app that allows you to trade and stake with no fees and no minimum deposits. You can trade over 800 CFD markets, including cryptocurrencies, stocks, indices, commodities, and forex. You can also access TradingView charts, trade ideas, professional trading insight, and code-free automation.
Eightcap is a regulated forex and CFD broker that provides market access to over 200 financial instruments, including forex, indices, commodities, shares, and cryptocurrencies. You can trade on MT4 and MT5 platforms, with tight spreads, fast execution, and various deposit and withdrawal options. You can also benefit from TradingView integration, weekly trade ideas, AI-powered economic calendar, and live events.
SimpleFX vs Eightcap Regulation Comparison
SimpleFX is registered in St. Vincent and the Grenadines as an International Business Company with registration number 21380042B8QJ87V4HA89. It is not regulated by any financial authority and does not provide any investor protection or compensation scheme.
Eightcap is authorized and regulated by the Australian Securities and Investments Commission (ASIC) with Australian Financial Services Licence number 391441. It is also regulated by the Vanuatu Financial Services Commission (VFSC) with registration number 40377. It provides client money segregation and protection under the Australian Client Money Rules.
SimpleFX vs Eightcap Trading Assets Comparison
SimpleFX offers over 800 CFD markets to trade on, including 21 forex pairs, 15 cryptocurrencies, 18 indices, 6 commodities, and over 700 stocks from US, UK, Germany, France, Japan, Hong Kong, and Australia.
Eightcap offers over 200 financial instruments to trade on, including 46 forex pairs, 9 cryptocurrencies, 15 indices, 7 commodities, and over 130 shares from US and Australia.
SimpleFX vs Eightcap Trading Fees Comparison
SimpleFX does not charge any commissions or fees on trading or staking. It only charges the spread, which is the difference between the bid and ask prices of a market. The spread varies depending on the market conditions and the liquidity of the asset. The average spread for EUR/USD is 0.9 pips, for BTC/USD is $4.5, and for SPX500 is 0.6 points.
Eightcap charges different commissions and fees depending on the account type you choose. It offers two types of accounts: Standard and Raw. The Standard account does not charge any commissions but has higher spreads. The Raw account charges a commission of $3.5 per lot per side but has lower spreads. The average spread for EUR/USD is 1 pips for Standard and 0 pips for Raw, for BTC/USD is $10 for Standard and $7 for Raw, and for SPX500 is 0.9 points for Standard and 0.4 points for Raw.
SimpleFX vs Eightcap Account Types Comparison
SimpleFX only offers one type of account for all traders. You can create an account using just an email address or a social media account. You can also use a demo account to practice trading with virtual money. There is no minimum deposit or withdrawal requirement for SimpleFX accounts.
Eightcap offers two types of accounts: Standard and Raw. You can open an account by filling an online form and verifying your identity and address. You can also use a demo account to practice trading with virtual money. The minimum deposit requirement for Eightcap accounts is $100 or equivalent in other currencies.
SimpleFX vs Eightcap Deposit Options Comparison
SimpleFX supports various deposit and withdrawal options, including bank transfer, credit/debit card, Skrill, Neteller, FasaPay, Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Tether, Chainlink, Binance Coin, USD Coin, Dai Stablecoin, TrueUSD, Paxos Standard Token. There are no fees for deposits or withdrawals except for bank transfers which may incur intermediary bank fees. The processing time varies depending on the method used but it is usually instant or within a few hours.
Eightcap supports various deposit and withdrawal options, including bank transfer, credit/debit card, Skrill, Neteller, POLi, BPAY, FasaPay, Broker to Broker Transfer, China Union Pay, Thai Internet Banking, Vietnamese Internet Banking, Malaysian Internet Banking, Indonesian Internet Banking. There are no fees for deposits or withdrawals except for bank transfers which may incur intermediary bank fees. The processing time varies depending on the method used but it is usually instant or within 1-2 business days.
SimpleFX vs Eightcap Trading Platforms Comparison
SimpleFX offers its own web-based trading platform called SimpleFX WebTrader, which is fast, intuitive, and user-friendly. It also offers native mobile apps for iOS and Android devices, which allow you to trade on the go. You can access TradingView charts, trade ideas, professional trading insight, and code-free automation on SimpleFX platforms.
Eightcap offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are powerful, reliable, and customizable. You can download the desktop versions for Windows and Mac devices, or use the web-based versions on any browser. You can also use the mobile apps for iOS and Android devices, which allow you to trade on the go. You can access TradingView charts, trade ideas, professional trading insight, and code-free automation on Eightcap platforms.
SimpleFX vs Eightcap Analytical Tools Comparison
SimpleFX and Eightcap both provides various analytical tools to help you with your trading decisions, such as TradingView charts, trade ideas, professional trading insight, and code-free automation. TradingView charts allow you to view and analyze the market movements using various indicators, drawing tools, and technical analysis. Trade ideas provide you with daily suggestions on what markets to trade and how to enter and exit them. Professional trading insight gives you access to market news, analysis, tutorials, and trading academy. Code-free automation lets you create, test, and automate trading strategies using everyday English with Capitalise.ai.
SimpleFX vs Eightcap. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that can affect your trading performance and experience. There are many factors to consider, such as regulation, trading assets, trading fees, account types, deposit and withdrawal options, trading platforms, and analytical tools.
- SimpleFX is a free trading and investing app that allows you to trade and stake with no fees and no minimum deposits. You can trade over 800 CFD markets, including cryptocurrencies, stocks, indices, commodities, and forex. You can also access TradingView charts, trade ideas, professional trading insight, and code-free automation. SimpleFX is registered in St. Vincent and the Grenadines as an International Business Company but it is not regulated by any financial authority. It supports various deposit and withdrawal options, including bank transfer, credit/debit card, Skrill, Neteller, FasaPay, Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Tether, Chainlink, Binance Coin, USD Coin, Dai Stablecoin, TrueUSD, Paxos Standard Token. It offers its own web-based trading platform called SimpleFX WebTrader, which is fast, intuitive, and user-friendly. It also offers native mobile apps for iOS and Android devices.
- Eightcap is a regulated forex and CFD broker that provides market access to over 200 financial instruments, including forex, indices, commodities, shares, and cryptocurrencies. You can trade on MT4 and MT5 platforms, with tight spreads, fast execution, and various deposit and withdrawal options. You can also benefit from TradingView integration, weekly trade ideas, AI-powered economic calendar, and live events. Eightcap is authorized and regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). It provides client money segregation and protection under the Australian Client Money Rules. It supports various deposit and withdrawal options, including bank transfer, credit/debit card, Skrill, Neteller, POLi, BPAY, FasaPay, Broker to Broker Transfer, China Union Pay, Thai Internet Banking, Vietnamese Internet Banking, Malaysian Internet Banking, Indonesian Internet Banking. It offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are powerful, reliable, and customizable. You can download the desktop versions for Windows and Mac devices, or use the web-based versions on any browser. You can also use the mobile apps for iOS and Android devices.
As you can see, SimpleFX and Eightcap have some similarities and differences in their features and services. Ultimately, the best way to decide which broker is more suitable for you is to test them out by opening a demo account or a real account with a small deposit and testing their service and performance.
