Compare ThinkMarkets vs Eightcap
What is ThinkMarkets? What is Eightcap?
ThinkMarkets is an FCA and ASIC-regulated online broker that was established in 2010 in New Zealand and later moved to Australia. It offers CFD trading on over 4,000 financial instruments, including forex, cryptocurrencies, indices, commodities, and share CFDs. It also provides access to TradingView, a popular charting and social trading platform.
Eightcap is an ASIC-regulated online broker that was founded in 2009 in Australia. It offers CFD trading on over 800 financial instruments, including forex, indices, commodities, shares, and cryptocurrencies. It also integrates with TradingView, as well as other tools such as Capitalise.ai, Crypto Crusher, and FlashTrader.
ThinkMarkets vs Eightcap Regulation Comparison
Both ThinkMarkets and Eightcap are regulated by the Australian Securities and Investments Commission (ASIC), which is one of the most reputable financial regulators in the world. ASIC requires brokers to adhere to strict standards of capital adequacy, client money protection, risk management, and fair dealing. Both brokers also hold client funds in segregated accounts at Tier 1 banks, which means that they are separate from the brokers’ own funds and cannot be used for operational purposes.
ThinkMarkets vs Eightcap Trading Assets Comparison
ThinkMarkets offers a wider range of trading assets than Eightcap, with over 4,000 CFDs available compared to over 800 CFDs. ThinkMarkets has more forex pairs (over 40), more cryptocurrencies (over 10), more indices (over 40), more commodities (over 20), and more share CFDs (over 3,000) than Eightcap.
Eightcap has only 40 forex pairs, 6 cryptocurrencies, 15 indices, 10 commodities, and 250 share CFDs.
ThinkMarkets vs Eightcap Trading Fees Comparison
Both ThinkMarkets and Eightcap offer competitive trading fees, with low spreads and commissions on most instruments. ThinkMarkets has two account types: Standard and ThinkZero. The Standard account has no commission but higher spreads, while the ThinkZero account has lower spreads but a commission of $3.5 per lot per side.
Eightcap has three account types: Standard, Raw Spread, and Pro Raw Spread. The Standard account has no commission but higher spreads, while the Raw Spread and Pro Raw Spread accounts have lower spreads but a commission of $3.5 per lot per side or $2.5 per lot per side respectively.
ThinkMarkets vs Eightcap Account Types Comparison
hinkMarkets has two account types: Standard and ThinkZero. The minimum deposit for both accounts is $250. The maximum leverage for both accounts is 500:1 for forex and metals, 200:1 for indices and commodities, and 20:1 for share CFDs.
Eightcap has three account types: Standard, Raw Spread, and Pro Raw Spread. The minimum deposit for the Standard account is $100, while the minimum deposit for the Raw Spread and Pro Raw Spread accounts is $500. The maximum leverage for all accounts is 500:1 for forex and metals, 200:1 for indices and commodities, and 20:1 for share CFDs.
ThinkMarkets vs Eightcap Deposit Options Comparison
Both ThinkMarkets and Eightcap offer a variety of deposit and withdrawal options for their clients. These include credit/debit cards, bank wire transfers, e-wallets such as Skrill, Neteller, PayPal (for ThinkMarkets only), Poli (for Eightcap only), and cryptocurrencies such as Bitcoin (for ThinkMarkets only).
Both brokers do not charge any fees for deposits or withdrawals, but third-party fees may apply depending on the method used.
ThinkMarkets vs Eightcap Trading Platforms Comparison
Both ThinkMarkets and Eightcap support the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are widely used by traders around the world. These platforms offer advanced charting tools, custom indicators, expert advisors (EAs), automated trading strategies, market news, and more.
In addition to MT4 and MT5, both brokers also integrate with TradingView, which is a web-based platform that allows traders to access thousands of charts from various markets, chat with other traders, share ideas, trade directly from the charts using their broker accounts, and access premium features such as advanced indicators, strategies, alerts, etc.
ThinkMarkets vs Eightcap Analytical Tools Comparison
Besides TradingView, both ThinkMarkets and Eightcap also offer other analytical tools to enhance their clients’ trading experience. ThinkMarkets provides access to Autochartist, which is a tool that scans the markets for trading opportunities based on technical analysis, patterns, and volatility. ThinkMarkets also offers a market news and analysis section on its website, where traders can find daily updates, weekly outlooks, and expert insights from its in-house analysts.
Eightcap provides access to Capitalise.ai, which is a tool that allows traders to create, test, and automate trading strategies using natural language. Eightcap also offers access to Crypto Crusher, which is a dashboard that provides trade ideas, entry and exit levels, and market sentiment for cryptocurrency CFDs. Eightcap also has a market news and analysis section on its website, where traders can find daily updates, weekly outlooks, and webinars from its in-house analysts.
ThinkMarkets vs Eightcap. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to which forex broker is better or which one you should choose, as different brokers may suit different traders depending on their preferences, goals, and strategies. However, you can consider some of the following factors to help you make an informed decision:
- Trading assets: If you want to trade a wide range of instruments, including forex, cryptocurrencies, indices, commodities, and share CFDs, then ThinkMarkets may be a better option for you, as it offers over 4,000 CFDs compared to over 800 CFDs by Eightcap .
- Trading fees: If you want to save on trading costs, then you may want to compare the spreads and commissions of the different account types offered by both brokers. ThinkMarkets and Eightcap have similar fee structures, with both offering a commission-free account and a commission-based account with lower spreads. However, Eightcap has an additional account type that offers even lower commissions than ThinkMarkets .
- Account types: If you have a limited budget or want to start small, then Eightcap may be a better option for you, as it has a lower minimum deposit requirement than ThinkMarkets for its Standard account ($100 vs $250). However, if you want to access the lower spreads and commissions offered by the other account types, then you will need to deposit at least $500 for Eightcap or $250 for ThinkMarkets .
- Trading platforms: If you are familiar with or prefer using the MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms, then both brokers will suit you well, as they both support these platforms. However, if you want to access other features such as advanced charting, social trading, and trade automation, then you may also want to check out TradingView, which is integrated with both brokers .
- Analytical tools: If you want to enhance your trading performance with additional tools such as market news, analysis, trade ideas, pattern recognition, and strategy creation and execution, then both brokers offer various options for you. ThinkMarkets provides access to Autochartist and its own market news and analysis section on its website. Eightcap provides access to Capitalise.ai, Crypto Crusher, and its own market news and analysis section on its website .
Ultimately, the choice of broker depends on your personal preferences and needs. You may want to try out the demo accounts offered by both brokers to test their services and features before making a final decision.
