Eightcap vs Swyftx

Eightcap vs Swyftx Comparison Table 2024
Eightcap	Swyftx
Review 4.6	Review 2.6

	Swyftx is an Australian cryptocurrency exchange offering 330+ products, with an impressive $27+ billion in trading volume. The brand is trusted by 600,000+ customers thanks to its competitive fee structure, ISO 27001 security protection and feature-rich trading app.
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."	"Swyftx will appeal to new crypto traders looking to buy, sell, trade and lend popular tokens like Bitcoin. With Australian roots and support for AUD, it will serve Aussie traders particularly well."
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.	Over 300 cryptocurrencies available, including popular coins like Bitcoin and Ethereum, as well as other altcoins User-friendly mobile platform with real-time performance tracking, demo mode and a fully customizable dashboard Regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency exchange provider Several fiat funding methods accepted in AUD or NZD with no deposit charges An option to set recurring deposits for automated cryptocurrency investments ISO 27001 certification, 2FA/biometric logins and cold storage solutions Transparent fee structure with spreads as low as 0.41% You do not need to upload documents or photos
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.	Poor exchange rates may impact your deposits negatively if you don't transfer in AUD or NZD Swyftx is currently only available to customers in Australia and New Zealand You need to have a call with an operator to be able to withdraw your funds Swyftx does not allow users to deposit or withdraw money using PayPal Live chat response times are slower than many alternatives
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	Cryptos
Demo Account
Yes	Yes
Minimum Deposit
$100	$30
Trading Platforms
MT4 MT5 TradingView	Own
Payment Methods
Bitcoin Payments BPAY Credit Card Debit Card Dragonpay FasaPay Neteller PayPal PIX Payment Skrill UnionPay Visa Wire Transfer	Bitcoin Payments PayID
Minimum Trade
0.01 Lots	$1
Regulator
ASIC, FCA, xCySEC, SCB	AUSTRAC
Margin Trading
Yes	No
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	No
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	No
Guaranteed Stop Loss
No	No
Inactivity Fee
$0
Islamic Account
Yes	No
Account Currencies
USD EUR GBP CAD AUD NZD SGD
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
Commodities
Gold Nickel Oil Palladium Platinum Silver Zinc
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)
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
USD
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.	Access a decent line-up of 330+ cryptocurrencies with low fees. Invest in popular token like Bitcoin, Ethereum, Tether and Ripple which can be bought, sold, transferred or stored on the broker's proprietary desktop and mobile platforms.
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	ZRX 1INCH AAVE ACM ADX ELF AERGO DLT AION AST AKRO ALGO TLM ALPHA AMB FORTH ANKR APPC ANT ARDR ARK ARPA ASR AUDIO REP AUTO AVAX AXS BADGER BAL BNT BAND BAT BEL BNB BUSD BTC BCH BCD BTG BTS BTT CDT BLZ AUCTION BRD BTCST BZRX ADA CTSI CELR CELO CTK LINK CHZ CHR CND CVC COCOS COMP CFX COS CTXC ATOM COTI CRV DASH MANA DCR DEGO DENT YFII DIA DGB DNT DODO DOGE DREP DUSK EPS EGLD ENJ EOS ETH ETC ERN EVX FTM BAR FET FIO FLM FLOW FOR FRONT FTT FUN GVT GTO GTC GO GLM GRS GXS HARD ONE HBAR HNT HIVE HOT ZEN ICX IDEX RLC INJ ICP IOST IOTA IOTX IRIS JST JUV KAVA KEEP KMD KSM KNC LINA LSK LTC LIT LPT LOOM LRC LTO MFT MKR OM MASK MDX MDT MTL MIR MITH MDA MTH MBL ALICE NANO NAV NEAR NEBL NAS XEM NEO GAS CKB NBS NXS NKN NU NULS NMR ROSE OAX OCEAN OMG ONT ONG OXT OGN ORN CAKE PSG PAXG PAX PERL PERP PHA PNT POA DOT POLS MATIC POLY PPT POWR PUNDIX QLC QTUM QNT QSP QKC QUICK RDN RAMP RVN REEF REN REQ RSR XRP RIF SCRT KEY SRM SHIB SC AGIX SKL SKY SOL SNM STX FIS STPT SNT STEEM XLM STORJ STMX DATA SUN SUPER SUSHI SXP SNX SYS WABI TRB LUNA TVK XTC GRT SAND THETA TFUEL RUNE TCT TOMO TORN AVA TRX TROY TRU TUSD TWT UMA UNFI UNI USDC USDT UTK VET XVS XVG VTHO VIA VIB VIDT VITE VGX WTC WAN WAVES WRX WPR WING WIN WBTC WNXM YFI YOYO ZEC ZIL
Crypto Lending
No	Yes
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

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