Eightcap vs FXCM

Eightcap vs FXCM Comparison Table 2024
Eightcap	FXCM
Review 4.6	Review 3.5

	FXCM is a respected forex and CFD broker, established since 1999. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia. With zero commissions, over 400 assets, and a range of analysis tools, FXCM remains a popular choice for day traders. The broker is also regulated by top-tier authorities including the FCA and ASIC.
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."	"FXCM maintains its position as a top pick for traders deploying automated trading strategies, with four powerful platforms, strategy backtesting and algo trading through APIs. The broker is also great for active traders, with discounted spreads and low to zero commissions on popular assets."
Pros
Having excelled across all key areas for day traders, Eightcap outperformed more than 490 competitors to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title. With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping. After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market. Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.	Alongside the 4 charting platforms, FXCM also offers a market-leading range of specialist software for experienced investors, including QuantConnect, AgenaTrader and Sierra Chart The proprietary Trading Station terminal is a good choice for day traders looking for an all-in-one solution for their short-term and automated trading strategies Traders can utilize several top-tier trading tools including a market scanner, forex signals and third-party research site, eFXPlus FXCM’s global reputation is impressive, with licenses from the FCA, ASIC, CySEC and FSCA and a 20-year business history A range of funding methods are available including bank cards, Apply Pay and PayPal, with instant processing times The broker offers spread discounts and other excellent perks for experienced traders in the Active Trader account FXCM has expanded its range of trading opportunities with 24-hour stock CFDs through MetaTrader 4
Cons
In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders. Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities. The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode. Despite a useful library of educational guides and e-books, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.	Although FXCM continues to gear their services towards experienced traders, it’s a shame that there are no managed accounts on offer There is no choice of retail accounts for traders, nor any Cent/Micro account options The live chat support can be slow and unreliable compared to the top competitors
Awards
Best Overall Broker 2024 - DayTrading.com Best Cryptocurrency Broker 2024 - DayTrading.com Best Forex Broker 2023 - DayTrading.com Best Cryptocurrency Broker 2023 - DayTrading.com Best MT4/MT5 Broker 2022 - DayTrading.com Best Customer Service Broker 2021 - Global Brands Magazine Best Global Forex MT4 Broker 2020 - Global Forex Awards
Instruments
CFDs, Forex, Stocks, Indices, Commodities	CFDs, Forex, Stocks, Cryptos, Commodities
Demo Account
Yes	Yes
Minimum Deposit
$100	$50
Trading Platforms
MT4 MT5 TradingView	Trading Station MT4 TradingView eSignal
Payment Methods
Bitcoin Payments BPAY Credit Card Debit Card Dragonpay FasaPay Neteller PayPal PIX Payment Skrill UnionPay Visa Wire Transfer	Apple Pay Credit Card Debit Card Google Wallet Klarna PayPal POLi Wire Transfer
Minimum Trade
0.01 Lots	Variable
Regulator
ASIC, FCA, xCySEC, SCB	FCA, CySEC, ASIC
Margin Trading
Yes	Yes
STP Account
No	No
ECN Account
Yes	No
DMA Account
No	No
MAM Account
Yes	Yes
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	Yes
Market Maker
No	Yes
P2P Trading
No	No
Spot Trading
Yes	No
Mobile Apps
iOS & Android	iOS and 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	Yes
Copy Trading Platform
	FXCM offers social and copy trading on forex, CFDs and cryptos through the hugely popular ZuluTrade platform. The sign-up process is quick and you can track your performance in real-time.
Social Trading
Yes	Yes
Trade Signals
Yes
VPS Hosting
Yes	No
Tournaments
No	No
Demo Competitions
No	Yes
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
$0
Islamic Account
Yes	No
Account Currencies
USD EUR GBP CAD AUD NZD SGD	USD EUR GBP CAD AUD ZAR CHF
Stock Exchanges
Australian Securities Exchange (ASX) CAC 40 Index France DAX GER 40 Index Dow Jones Euronext FTSE UK Index Hang Seng Hong Kong Stock Exchange Japan Exchange Group London Stock Exchange Nasdaq New York Stock Exchange Russell 2000 S&P 500 SIX Swiss Exchange Toronto Stock Exchange	Euronext IBEX 35 Russell 2000
Commodities
Gold Nickel Oil Palladium Platinum Silver Zinc	Cannabis Gold Oil Silver
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.	You can trade a range of CFD instruments across forex, shares, indices and commodities. There’s an excellent selection of platforms for day traders, including TradingView and MT4, plus additional tools for experienced algo traders including API solutions.
Leverage
	1:30
FTSE Spread
1.2	1.18 pts var*
GBPUSD Spread
0.1	0.5 pips*
Oil Spread
0.03	0.05 (var)*
Stocks Spread
0.03 (Apple Inc)	0.2% Var*
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.	FXCM offers an average range of 40+ currency pairs, although there are no commissions and spreads are competitive from 0.78 pips for EUR/USD. The broker also offers 3 forex baskets covering USD, Yen and emerging markets benchmarks.
GBPUSD Spread
0.1	0.5 pips var*
EURUSD Spread
0.0	0.2 pips var*
EURGBP Spread
0.1	0.5 pips var*
Assets
50+	40
Currency Indices
USD	JPY
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.	You can trade some of world's most popular digital coins with zero commission and leverage up to 1:4. FXCM also stands out for its crypto major basket which offers exposure to Bitcoin, Ethereum, Litecoin and Bitcoin Cash in one trade.
Spread
$12 (BTC)	Variable
Coins
BTC ETH LTC BCH XRP XMR DSH EOS XLM ADA TRX DOGE BNB DOT MATIC VET AXS NEO SOL UNI AAVE KSM THETA CAKE SUSHI ATOM XTZ SNX COMP FLOW EGLD PUNDIX RAY ZIL QTUM BAND OMG FIDA BADGER NEAR ONT KNC SHIB MTL CLV BAT XEM STMX CHR WAVES FTM AUDIO TOMO MRK GRT ENJ CRV RUNE DAWN DODO HOT ZEC 1INCH HBAR AVAX PROM ALPHA LINA CEL SXP SAND CREAM ICP FIL PAXG DENT REN REEF LRC PERP STORJ IOTA ALCX ALGO LINK MANA	BTC ETH LTC BTC
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

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