Eightcap vs Firstrade
| Eightcap | Firstrade |
|---|---|
4.6
|
4
|
|
|
Firstrade is a US-headquartered discount broker-dealer with authorization from the SEC. The company is also a member of FINRA/SIPC. With welcome bonuses, powerful tools and apps, plus commission-free trading, Firstrade Securities is a popular online brokerage. It is also quick and easy to open a new account. |
| Customer Reviews | |
|
3.5
Based on 2 Eightcap customer reviews
|
|
| Comment by Reviewer | |
| "Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row." | "We recommend Firstrade for beginner investors looking to trade US stocks with no commissions. There is a wealth of free education plus premium-quality research and trading ideas from Morningstar, Briefing.com, Zacks and Benzinga." |
| Pros | |
|
|
| Cons | |
|
|
| Awards | |
|
|
| Instruments | |
| CFDs, Forex, Stocks, Indices, Commodities | Stocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed |
| Demo Account | |
| Yes | No |
| Minimum Deposit | |
| $100 | $0 |
| Trading Platforms | |
|
|
| Payment Methods | |
| Minimum Trade | |
| 0.01 Lots | $1 |
| Regulator | |
| ASIC, FCA, xCySEC, SCB | SEC, FINRA |
| Margin Trading | |
| Yes | Yes |
| Margin Rate | |
| 4.50% | |
| STP Account | |
| No | No |
| ECN Account | |
| Yes | No |
| DMA Account | |
| No | No |
| MAM Account | |
| Yes | No |
| PAMM Account | |
| No | No |
| LAMM Account | |
| No | No |
| Demat Account | |
| No | No |
| AI / Machine Learning | |
| No | No |
| Robo Advisor | |
| No | No |
| Negative Balance Protection | |
| Yes | No |
| Market Maker | |
| No | Yes |
| P2P Trading | |
| No | No |
| Spot Trading | |
| Yes | No |
| Mobile Apps | |
| iOS & Android | iOS & Android |
| App Review | |
Eightcap supports the MT4, MT5 and TradingView apps, catering to mobile traders looking for advanced charting tools. While we don’t love the increasingly outdated design of the MetaTrader suite, its dozens of technical indicators and drawing tools, multiple charting styles, and straightforward overlays in horizontal mode are excellent. The push notifications and active social network on the TradingView app are also valuable additions for aspiring traders and Eightcap has published helpful videos on connecting TradingView accounts to iOS and Android devices. |
|
| Android App Rating | |
4.4 |
|
| iOS App Rating | |
4.8 |
|
| Copy Trading | |
| No | No |
| Social Trading | |
| Yes | No |
| Trade Signals | |
| Yes | |
| VPS Hosting | |
| Yes | No |
| Tournaments | |
| No | No |
| Demo Competitions | |
| No | No |
| Ethical Investing | |
| No | No |
| Custodial Account | |
| No | Yes |
| Guaranteed Stop Loss | |
| No | No |
| Inactivity Fee | |
| $0 | $0 |
| Islamic Account | |
| Yes | No |
| Account Currencies | |
|
|
| Stock Exchanges | |
| Commodities | |
| CFD Trading | |
| Eightcap offers a wide range of trading options with 800+ CFDs across stocks, indices, bonds, commodities, and cryptocurrencies (depending on location), with leverage up to 1:30/1:500. It excels in its tools, notably the AI-enabled economic calendar covering 25+ countries with impact filters (high, medium, low). However, its commodities offering, particularly in softs like cotton and wheat, as well as the limited precious metal and energy assets, is its weakest area. | CFD trading not offered |
| FTSE Spread | |
| 1.2 | |
| GBPUSD Spread | |
| 0.1 | |
| Oil Spread | |
| 0.03 | |
| Stocks Spread | |
| 0.03 (Apple Inc) | $0 per trade |
| Forex Trading | |
| Eightcap offers 50+ currency pairs in line with the industry average but trailing category leaders like CMC Markets with its 300+ currency pairs. However, Eightcap stands out with institutional-level spreads from 0.0 pips on major pairs like the EUR/USD, alongside low $3.50/side commissions. The broker also offers rich forex data to inform trading decisions, including key fundamentals, bullish/bearish indicators and a calendar that tracks key events in the foreign exchange market. | Forex trading not offered |
| GBPUSD Spread | |
| 0.1 | |
| EURUSD Spread | |
| 0.0 | |
| EURGBP Spread | |
| 0.1 | |
| Assets | |
| 50+ | |
| Currency Indices | |
|
|
| Cryptocurrency | |
| Eightcap’s crypto offering is best-in-class with 250+ crypto derivatives, surpassing that of almost every alternative. Testing also reveals Bitcoin spreads of 12 pips, coming in lower than most competitors, while it offers real-time trading ideas through the Crypto Crusher market scanner. Add in convenient deposits and withdrawals in digital currencies, and Eightcap offers the complete package for serious crypto traders. | Take positions on dozens of leading cryptocurrencies with low fees and 24/7 investing. Traders need just $1 to start speculating on popular tokens like Bitcoin. Clients can also buy cryptos instantly in a few straightforward steps. |
| Spread | |
| $12 (BTC) | Variable |
| Coins | |
|
|
| Crypto Lending | |
| No | No |
| Crypto Mining | |
| No | No |
| Crypto Staking | |
| No | No |
| Auto Market Maker | |
| No | No |
|
|
|
| More Comparisons | |
|
Eightcap vs |
Firstrade vs |