Eightcap vs SimpleFX

Eightcap vs SimpleFX Comparison Table 2023
Eightcap Review 2023 SimpleFX Review 2023
4.6
4.2
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

Eightcap is a forex and CFD broker founded in Australia in 2009. The brand is popular for its raw spreads on 1000+ instruments and advanced MetaTrader platforms. With five global offices and ASIC regulation, Eightcap has built a strong reputation. New traders can also sign up for a live account in just a few minutes.

SimpleFX is an offshore forex, CFD and cryptocurrency broker with over 200,000 clients globally. The broker offers a proprietary trading solution, as well as the reputable MT4 platform. Traders can access a vast selection of digital assets with crypto deposits and multi currency accounts.

Comment by Reviewer
"Eightcap is good for traders familiar with MT4 and MT5 looking to trade forex and CFDs in a secure environment. The brand is also a great pick for crypto traders with 100+ derivatives, a sophisticated market scanner, plus Bitcoin and Tether deposits." "SimpleFX is best for crypto traders looking for staking services and a social trading community to exchange ideas and signals."
Pros
  • Sophisticated platforms including MetaTrader 4 and TradingView
  • Raw spreads from 0.0 pips and a competitive $3.5 per lot commission
  • Flexible and fee-free payment methods including cryptocurrencies
  • 100+ crypto derivatives, more than most brokers, including crypto crosses and indices
  • Strong trading education and analysis including forex guides and online webinars
  • Cryptocrusher market scanner with sentiment indicators, news and trading signals
  • AI-powered economic calendar with top-level insights, in partnership with Acuity
  • Good for day trading with ECN pricing, a forex VPS and automated trading software
  • API & VPS support
  • SimpleFX crypto coin
  • Fast customer service
  • Beginner-friendly platform
  • Multi-currency single account
  • Lightning fast Bitcoin payments
  • Community forum to share trading ideas
  • Crypto staking solution with no starting deposit
Cons
  • Cryptocrusher platform not available for Australian clients
  • Demo account can only be extended upon request
  • Only four commodities available
  • Weak regulatory oversight
  • No MetaTrader 5 integration
  • Limited non-crypto funding methods
Awards
  • Best Forex Broker 2023 - DayTrading.com
  • Best Cryptocurrency Broker 2023 - DayTrading.com
  • Best MT4/MT5 Broker 2022 - DayTrading.com
  • Best Global Forex MT4 Broker 2020 - Global Forex Awards
  • The Best Trading Platform Cryptocurrency, World Expo 2022 - Warsaw
  • Best Mobile App 2020 - Rankia Awards
  • The Best Trading Platform, Finance World Expo 2019 - Zug
  • Best Cryptocurrency Trading Platform, Cryptocurrency World Expo 2018 - Berlin
Instruments
CFDs, Forex, Stocks, Indices, Commodities, Crypto Forex, indices, shares, commodities, cryptocurrencies
Demo Account
Yes Yes
Minimum Deposit
$100 $0
Trading Platforms
  • MT4
  • MT5
  • TradingView
  • MT4
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FCA, ASIC, CySEC, SCB
Margin Trading
Yes Yes
STP Account
No Yes
ECN Account
Yes No
DMA Account
No Yes
MAM Account
Yes No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No Yes
Robo Advisor
No Yes
Negative Balance Protection
Yes Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS & Android iOS, Android + Web Trader
Auto Trading
Capitalise.ai platform plus Expert Advisors (EAs) on MetaTrader software Yes
Copy Trading
No No
Social Trading
No Yes
Trade Signals
Cryptocrusher - signals for cryptocurrencies Yes
VPS Hosting
Yes Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0 3%
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • SGD
  • USD
  • EUR
  • GBP
Stock Exchanges
Commodities
CFD Trading
Trade over 800 CFDs on popular indices, shares, forex, cryptos and commodities. Clients get premium liquidity and superior execution with servers in leading data centres. Eightcap also offers more choice than most competitors in terms of platforms with MT4, MT5 and TradingView. Go long or short on over 170 CFDs with high leverage up to 1:500. The broker's social community is also a great place to pick up CFD strategy tips and trading ideas.
Leverage
1:30 (EU), 1:500 (Global) 1:500
FTSE Spread
1.2 1.3
GBPUSD Spread
1.0 1.2
Oil Spread
0.03 0.03
Stocks Spread
$0.02 per share, per side ($4 per lot round turn) Variable
Forex Trading
Trade 50+ major, minor and exotic pairs with an award winning platform. Users get institutional-level prices with spreads from 0.0 pips and low commissions. The VPS will also serve high-volume, active day traders. SimpleFX offers a competitive suite of 60 forex pairs with average spreads of 0.9 pips. The charting features are extensive, with convenient mobile and desktop access for all experience levels.
GBPUSD Spread
1.0 1.2
EURUSD Spread
1.0 0.9
EURGBP Spread
1.0 0.9
Assets
50+ 60
Cryptocurrency
Eightcap offers Crypto-CFDs with over 100 crypto-backed derivatives, more than many rivals. Bitcoin spreads are also lower than most brokers coming in at 12, while the market scanner is a unique and powerful trading aid. SimpleFX offers popular crypto coins including Bitcoin and Ethereum paired with the USD. Traders benefit from feature-rich analysis tools as well as a bespoke staking service where capital can be used for margin trading.
Spread
From $0 From 0.0001
Coins
  • BTC
  • ETH
  • XRP
  • ADA
  • DOGE
  • BNB
  • LTC
  • TRX
  • BCH
  • XRP
  • EOS
  • DOT
  • LINK
  • MATIC
  • SHIB
  • BSV
  • VET
  • AXS
  • NEO
  • SOL
  • XLM
  • UNI
  • DASH
  • AAVE
  • KSM
  • THETA
  • CAKE
  • SUSHI
  • ATOM
  • BTC
  • BHC
  • LTC
  • ETH
  • ETC
  • XRP
  • LNK
  • WAV
  • XTZ
  • YFI
  • ADA
  • DOT
  • EOS
  • NEO
  • BNB
  • XMR
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No Yes
Auto Market Maker
No No
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