Eightcap vs Forex.com Comparison – 2024

Top Reasons to Choose Eightcap or FOREX.com

How does Eightcap compare to the industry giant FOREX.com? Hold tight as we dive into a detailed side-by-side comparison covering key areas like trust, fees, and platforms.

Eightcap emerged in 2009 and has grown to be a major player in the competitive Australian market and beyond. US-based FOREX.com traces its origins to 2001, marking it as a pioneering forex and CFD broker.

My research showed that Eightcap has more competitive spreads (via the Standard Account) and fees, while FOREX.com has the advantage in trust rating and breadth of tradable instruments. Both brokers offer a strong lineup of platforms. The two brokers excelled in research materials, and FOREX.com did better in the education component of our review.

Eightcap: Snapshot

Eightcap was founded in 2009 in Melbourne, Australia, and operates under five global entities. Clients can access over 800 CFD instruments with rock-bottom trading costs. With the choice of MetaTrader 4, MetaTrader 5, and TradingView, traders have a solid lineup of platforms. A dedicated account manager is assigned to every client, reflecting the high level of customer support I experienced in my tests.

Eightcap: Who is it For?

My research showed that Eightcap is well-suited for experienced traders, offering ultra-tight spreads through the Raw Account and the advanced capabilities of MT5. These include automated trading, a wide array of technical indicators, and versatile order types. Features like one-click trading and fast order execution make Eightcap a suitable choice for day traders and scalpers. Algo traders can take advantage of code-free strategy development with Capitalize.ai. Eightcap’s offering is also beginner-friendly, thanks to the intuitive TradingView platform, the availability of micro-lot trading, and insightful educational materials via Eightcap Labs.

What Makes Eightcap Stand Out?

Eightcap sets itself apart in the areas crucial to traders: trust, fees, and platforms. It is licensed by three of the leading global regulators – the FCA, CySEC, and ASIC – and offers competitive pricing (for instance, gold spreads as low as 12 cents). This is an innovative broker, strong in areas like crypto and AI. Additionally, during my testing of Eightcap, I was assigned a dedicated account manager and received above-average support.

FOREX.com: Snapshot

FOREX.com is a pioneering forex and CFD broker founded in 2001. The Bedminster, New Jersey-based firm provides access to trading in over 5,500 financial instruments. Clients can trade CFDs on forex, commodities, stocks, indices, and cryptocurrencies via the proprietary Web Trader platform, MetaTrader 5, or the FOREX.com mobile app. FOREX.com has 9 corporate entities across the globe and is overseen by multiple top-tier regional regulators.

FOREX.com: Who is it For?

FOREX.com is a versatile broker that can accommodate both beginners and experienced traders. Newbies can take advantage of a 30-day free demo account, excellent educational resources, and reliable customer support. Experienced traders have access to advanced tools, a solid choice of platforms, and competitive trading conditions via the Raw Spreads account type.

What Makes FOREX.com Stand Out?

An industry leader with decades of experience, FOREX.com excels in multiple areas. My assessment showed that in trust, platforms, tradable instruments, research, and educational materials, FOREX.com comfortably beats the average broker. It has also gone the extra mile to provide technology and tools – for example, FX Blue and Performance Analytics – that help give its clients an edge in the markets.

Trust

Eightcap vs FOREX.com Trust and Regulation Comparison

Eightcap surpassed the industry average in our Trust category. The Aussie broker has three entities licensed by top-tier regulators and two offshore entities with limited oversight. Eightcap’s high level of transparency and 15-year operating history contributed to its elevated trust rating in our review.

FOREX.com is one of the world’s most extensively regulated CFD brokers. Its subsidiaries are regulated by top-tier authorities, including the FCA, CySEC, and ASIC. The company is owned by financial services giant StoneX, a publicly traded company (NASDAQ: SNEX). My tests showed the company to be highly transparent. These factors combine to give FOREX.com one of the highest trust ratings of any broker I have reviewed.

If you want to learn more about brokers’ regulations, be sure to check out our article on the top regulated forex brokers.

Fees

Eightcap vs FOREX.com Spreads, Fees and Commissions Comparison

My hands-on tests showed that Eightcap offers highly competitive trading fees. Spreads in commodities, shares, and indices are especially tight, and swap fees are average for the industry. Another bonus is that there are no inactivity or account maintenance fees.

Trading costs at FOREX.com vary by account type. The Standard and MT5 accounts feature industry-average spreads and swap fees, which could be more competitive. More favorable pricing is available through the Raw Spread account type. Additionally, a standard inactivity fee of £12 (or currency equivalent) per month is charged to dormant accounts.

Platforms and Tools

Eightcap vs FOREX.com Trading Platforms Comparison

Eightcap provides the full suite of MT4 and MT5 platforms along with the cutting-edge TradingView platform. Experienced traders can benefit from MetaTrader’s advanced features, including automated trading, robust charting, and versatile order types. Meanwhile, the TradingView platform is more intuitive and suitable for beginners.

FOREX.com provides a robust selection of platforms and tools. The flagship Web Trader platform is feature-rich, highly customizable, and includes advanced charts from TradingView. Performance analytics provide real-time statistics to help fine-tune your trading performance. The MT5 platform is also available for traders interested in automated trading.

Tradable Instruments

Eightcap vs FOREX.com Instruments Selection Comparison

Eightcap offers a diverse range of over 800 CFD instruments. Clients can benefit from an especially strong range of commodities, indices, and cryptocurrencies. I rate the scope of available instruments as better than average for the industry.

FOREX.com excels in tradable instruments, with a range that only a few CFD brokers can match. Clients have access to thousands of CFDs on forex, commodities, indices, stocks, and cryptocurrencies. Additionally, FOREX.com goes above and beyond by offering CFDs on ETFs, bonds, sectors, and thematic indices.

Customer Support

Eightcap vs FOREX.com Customer Support Comparison

Eightcap provides 24/5 support via phone, live chat, and email in 9 languages. Once I was assigned an account manager, I received high-quality support with fast and complete answers to my inquiries.

FOREX.com mirrors the support level with 24/5 support via live chat, phone, and email in 9 languages. In my tests, I experienced high-quality support, with short wait times and helpful agents. Overall, my assessment indicated that FOREX.com provides better-than-average customer support.

Research

Eightcap vs FOREX.com Research Tools Comparison

Eightcap shines in the research category with high-quality text and video-based analysis. The AI Economic Calendar from Acuity enables clients to get trade ideas from 1000+ macroeconomic events. Capitalize.ai allows clients to test and automate trading strategies using text instead of code. Eightcap also incorporates live webinars from seasoned industry experts. I rate the research materials as above average.

FOREX.com is also outstanding in the area of research, providing insightful market analysis, trade ideas, and live webinars hosted by market authorities. SMART Signals, available via the FOREX.com Web Platform and mobile app, automatically monitors global markets to highlight potential trading opportunities. Additional high-quality content from Trading Central and FX Blue offers traders further inspiration.

Deposits & Withdrawals

Eightcap vs FOREX.com Deposit and Withdrawal Methods Comparison

Eightcap has an excellent range of funding/withdrawal methods. Clients can deposit and withdraw funds via wire transfer, credit/debit card, Union Pay, Skrill, Neteller, Fasapay, cryptocurrency, and local payment methods. Processing times are relatively fast for the industry (1-5 business days for bank wire withdrawals). Deposits and withdrawals (including bank wire) are free of internal charges.

FOREX.com offers a solid range of deposit and withdrawal methods: credit/debit card, wire transfer, Neteller, or Skrill. Processing times are fast (1-2 business days for bank wire withdrawal), with no fees for deposits or withdrawals.

Account Types and Terms

Eightcap vs FOREX.com Account Types Comparison

Eightcap provides three account types: Standard, Raw and TradingView. Standard and TradingView accounts are spreads only, while the Raw account offers spreads from 0.0 pips, plus commission. The minimum deposit is $100 across all accounts. Clients can also access a free demo account on both the MT4 and MT5 platforms. Maximum leverage varies by region, with up to 1:500 available through the global entity.

FOREX.com also offers three account types catering to different trader profiles: the Standard, MT5, and Raw Spreads accounts. Spreads are identical for the Standard and MT5 accounts, but more competitive costs are available through the Raw Spreads account. The minimum deposit is also $100 regardless of account type. Demo accounts are accessible via FOREX.com Web Trader and MT5. Maximum leverage depends on your region, with up to 1:400 available through the global entity.

Education

Eightcap vs FOREX.com Educational Content Comparison

Eightcap The Eightcap Labs section of the website offers a comprehensive range of educational articles, guides, and eBooks covering trading fundamentals, strategies, and cryptocurrencies. I especially liked the guides dedicated to specific instruments like oil and US indices. The content is insightful and can cater to beginners and experienced traders.

FOREX.com delivers first-class education through its Trading Academy, featuring courses, platform tutorials, individual lessons, and live webinars. Courses are structured by experience level – beginner, intermediate, and advanced. The learning process includes progress tracking and quizzes to enhance engagement. Content is presented in both text and video formats, covering topics from the basics of CFD trading to advanced technical analysis.

Our Methodology

Since 2011, FX Empire has developed a detailed methodology for evaluating CFD brokers, involving over 250 variables across nine crucial categories. Our team of experts, with deep industry knowledge, conducts live testing and research by interacting with the brokers directly. We check regulations, open accounts, test spreads, account costs, platform functionality, instrument variety, customer support reliability, and the quality of research and educational content. This granular analysis helps us identify each broker’s strengths and weaknesses, keeping our comparisons current with market trends and ensuring our guides meet traders’ needs.

We strive to evaluate each broker objectively, considering how their offerings align with the diverse trading goals and preferences of our readers. Our focus is on providing a balanced overview of each broker’s strengths and weaknesses. This method ensures that our readers receive clear, insightful comparisons to aid in making well-informed trading decisions.

We employ a comprehensive rating system across nine key categories:

• Trust
• Fees
• Platforms and Tools
• Tradable Instruments
• Customer Support
• Research
• Deposits and Withdrawals
• Account Types and Terms
• Education

In each category, we conduct an in-depth analysis for both brokers, outlining features, advantages, and disadvantages and determining their suitability for different trader profiles. By blending insights from our extensive reviews with first-hand experiences and observations, we ensure each comparison is balanced, informative, and tailored to the trader’s unique needs. You can read more about our review process here.

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