Written by ForexBrokers.com
In this head to head comparison of FinecoBank vs Eightcap, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FinecoBank, established in 1999, and Eightcap, founded in 2009, offer contrasting profiles for online trading customers. FinecoBank is a bank and publicly traded entity, making it an attractive option for those who value institutional security. It holds two Tier-1 licenses, reflecting strong regulatory trust, and boasts a ForexBrokers.com Trust Score of 94, positioning it as a highly trusted choice for online trading. In comparison, Eightcap is not publicly listed and does not operate as a bank; however, it holds three Tier-1 licenses, indicating a reliable level of oversight with a ForexBrokers.com Trust Score of 85, marking it as a trusted broker.
For traders focusing on the regulatory pedigree and institutional backing of their brokers, FinecoBank offers the added security of being a bank with a significant Trust Score. On the other hand, Eightcap, while not a bank, provides competitive assurance through its multiple Tier-1 licenses, balancing its credibility as a trusted trading platform in a different way. Customers can choose based on these distinctions, aligning their preference with either FinecoBank's longstanding presence and banking credentials or Eightcap's focused commitment to regulatory compliance.
| Feature |
FinecoBank
|
Eightcap
|
|---|---|---|
| Year Founded | 1999 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to trading costs, FinecoBank and Eightcap offer different structures for commissions and fees. FinecoBank does not publish average spread data for forex and CFD trading, making it hard to determine the exact trading costs. The broker lists a 1 pip spread for EUR/USD, which is higher than the industry average. While Fineco also lists a spread of 0.8 pips, there's limited information, and no average value is stated, leaving potential traders with incomplete cost data. However, Fineco is noted for offering lower spreads on its index CFDs. In terms of overall rating, FinecoBank scores 3.5 out of 5 stars and ranks #50 out of 62 brokers in the Commissions and Fees category according to ForexBrokers.com.
Eightcap, on the other hand, provides more transparency with its fees and offers two types of accounts: the commission-based Raw account and the spread-only Standard account. The Raw account features an average spread of 0.06 pips, but when accounting for the per-side commission of $3.50 per trade, the total cost is about 0.76 pips. This makes it marginally less expensive than the typical industry rate of 0.8 pips. While Eightcap might not be the absolute lowest-cost option for forex brokers, its pricing structure is competitive. Eightcap earns a commendable 4 out of 5 stars and holds a #26 rank out of 62 brokers for commissions and fees on ForexBrokers.com.
In summary, FinecoBank may be more appealing for those interested in trading index CFDs, given its potentially lower spreads in that area. However, for those prioritizing overall cost and transparency in forex trading, Eightcap's clear pricing model and competitive rates make it a preferable choice. Traders should weigh their priorities and consider these differences when selecting a broker.
| Feature |
FinecoBank
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | N/A | 1.0 |
| All-in Cost EUR/USD - Active | N/A | 0.76 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the range of investments, FinecoBank offers a wider array of choices compared to Eightcap. With a total of 9,770 tradeable symbols, FinecoBank provides ample opportunities for investors looking to diversify their portfolios. This includes access to both CFDs and spot contracts for forex trading, with 54 forex pairs available. Additionally, FinecoBank allows clients to buy exchange-traded securities like Apple shares on U.S. exchanges and companies like Vodafone on international platforms. On the other hand, Eightcap offers 736 tradeable symbols and 56 forex pairs, focusing on forex trading as CFDs. While it does not provide direct access to U.S. or international exchange-traded securities, Eightcap does offer copy trading and cryptocurrency derivatives.
FinecoBank is rated 4.5 stars for its range of investments, securing the 16th spot out of 62 brokers in the ForexBrokers.com ranking. This indicates its strong appeal to investors seeking a broad selection of investment opportunities. Eightcap, however, is rated 3.5 stars in the same category, ranking 40th. This reflects its specialized focus, which may appeal to traders interested in leveraging tools like copy trading and trading crypto derivatives, but it lacks the comprehensive scope of FinecoBank's offerings. Both platforms have their unique strengths, catering to different types of investors and traders.
| Feature |
FinecoBank
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 736 |
| Forex Pairs (Total) | 54 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | No | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When exploring the trading platforms and tools of FinecoBank and Eightcap, several key differences and similarities emerge. FinecoBank offers a proprietary platform, which could appeal to those who prefer unique in-house developed systems. It also supports both Windows-based desktop downloads and web-based trading but lacks simulated trading options like a free demo account. On the other hand, Eightcap does not have a proprietary platform but excels with its support for popular trading systems like MetaTrader 4 and MetaTrader 5, alongside offering a demo account for simulated trading. Both brokerages provide web-based trading and desktop options, yet Eightcap stands out by also supporting copy trading, unlike FinecoBank.
When it comes to detailed charting tools, FinecoBank offers seven drawing tools while Eightcap provides more options with fifteen. Eightcap facilitates trading directly from a stock chart, a feature not available with FinecoBank. Additionally, Eightcap provides more configurability with watch lists, offering seven columns for customization. Despite the differences in specific features, both brokers are rated four stars for their trading platforms and tools, though FinecoBank enjoys a higher rank at #17 compared to Eightcap's #38 according to ForexBrokers.com.
| Feature |
FinecoBank
|
Eightcap
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 37 | 30 |
| Charting - Drawing Tools (Total) | 7 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | N/A | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FinecoBank and Eightcap both offer mobile trading apps for iPhone and Android users, ensuring a seamless trading experience across devices. Each app allows users to set price alerts for stocks and forex, helping traders stay informed about market changes. However, Eightcap stands out with its watchlist symbol syncing feature, meaning updates made in the mobile app are automatically reflected in the user's online account. In contrast, FinecoBank lacks this syncing capability. When it comes to technical studies, Eightcap offers 30 different options for in-depth chart analysis, substantially more than FinecoBank's offering of 6.
Charting tools are another area where Eightcap excels over FinecoBank. Eightcap's app supports the drawing of trendlines on charts and automatically saves these drawings, a feature FinecoBank's app does not offer. Both apps allow viewing multiple time frames on charts, but Eightcap additionally provides the ability to create watchlists with real-time quotes. FinecoBank misses out on this feature. Despite these differences, both FinecoBank and Eightcap receive a commendable 4-star rating for their mobile apps. In the competitive landscape of mobile trading apps, Eightcap holds a slightly better rank (#38) compared to FinecoBank (#42), according to ForexBrokers.com.
| Feature |
FinecoBank
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 6 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing FinecoBank and Eightcap for market research, the differences are noteworthy for traders seeking the best insights. FinecoBank and Eightcap both provide economic calendars to keep users informed about global news events. However, only Eightcap offers daily market commentary and a sentiment-based trading tool, which reveals the ratio of long or short positions across currency pairs and other instruments. On the other hand, FinecoBank offers forex news from top-tier sources like Bloomberg and Reuters, something Eightcap does not. Neither platform provides technical or fundamental research tools from companies like Autochartist or Trading Central, nor do they offer market research from TipRanks or Acuity Trading tools.
In terms of rankings and ratings for research, FinecoBank scores slightly higher with a 4-star rating, coming in at 33rd place out of 62 brokers on ForexBrokers.com. Eightcap follows closely with a 3.5-star rating and a ranking of 39th. While both brokers have their strengths, the choice ultimately depends on specific research features that align with a trader's particular needs.
| Feature |
FinecoBank
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners at FinecoBank and Eightcap, both platforms offer unique learning opportunities with distinct advantages. FinecoBank is committed to supporting new traders by providing monthly online educational webinars, making them an excellent choice for live, interactive learning. They also have over ten beginner trading videos and an extensive investor dictionary to help newcomers understand essential trading concepts. However, FinecoBank lacks a collection of educational content specifically focusing on forex or CFDs, and they do not offer a searchable archive of past webinars.
On the other hand, Eightcap excels in offering a wide array of forex and CFDs educational content with more than ten dedicated articles and videos, ideal for those who prefer a more comprehensive library of written and visual resources. They also provide a searchable archive of previously recorded webinars, enhancing flexibility for learners who wish to access content at their convenience. While Eightcap's live webinar offerings are not as frequent as FinecoBank's, its library of beginner educational videos and a solid investor dictionary mirror that of FinecoBank. Overall, FinecoBank secures a slightly higher educational rating, but Eightcap ranks higher in comparison to other brokers, according to ForexBrokers.com.
| Feature |
FinecoBank
|
Eightcap
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that FinecoBank is better than Eightcap. FinecoBank finished with an overall rank of #25, while Eightcap finished with an overall rank of #38.
FinecoBank is a trusted multi-asset broker offering forex and CFDs across its brands regulated in the U.K. and Italy. However, unless you visit a physical branch as a citizen of the EU – or you are a resident of Italy or the U.K. – you will not be permitted to open an online account with FinecoBank.
| Feature |
FinecoBank
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Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 85 |
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In comparing FinecoBank and Eightcap, it's important to note that FinecoBank does not offer the capability to buy actual delivered cryptocurrency or cryptocurrency derivatives, whereas Eightcap also does not provide the option to buy actual delivered cryptocurrency but does allow the purchase of cryptocurrency derivatives.
FinecoBank supports ACH, SEPA, and bank wire transfers for account funding, while Eightcap offers a wide range of options including PayPal, Skrill, Visa, Mastercard, and bank wire transfers for deposit and withdrawal methods.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | FinecoBank | Eightcap | |
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| Trust Score | 94 | 85 | |
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| Review | FinecoBank Review | Eightcap Review |
| Broker Screenshots | FinecoBank | Eightcap | |
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| Regulation | FinecoBank | Eightcap | |
|---|---|---|---|
| Trust Score | 94 | 85 | |
| Year Founded | 1999 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FinecoBank | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FinecoBank | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 736 | |
| Forex Pairs (Total) | 54 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | No | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FinecoBank | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.0 | |
| All-in Cost EUR/USD - Active | N/A | 0.76 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FinecoBank | Eightcap | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FinecoBank | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | N/A | 7 | |
| Charting - Indicators / Studies (Total) | 37 | 30 | |
| Charting - Drawing Tools (Total) | 7 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FinecoBank | Eightcap | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 6 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FinecoBank | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FinecoBank | Eightcap | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FinecoBank | Eightcap | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FinecoBank Review | Eightcap Review |
| Overall | FinecoBank | Eightcap | |
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| Trust Score | 94 | 85 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | Eightcap Review |
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