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 |
Comparing FinecoBank and Eightcap on their commissions and fees reveals key differences for potential traders. FinecoBank's lack of published average spread data for forex and CFD trades makes it challenging to pinpoint its precise trading costs. While it lists a spread of 1 pip for the EUR/USD, this is higher than the typical spread provided by many forex brokers. FinecoBank also offers a spread of 0.8 pips but doesn't clarify if these are average values or provide any related date range. Despite this ambiguity, FinecoBank tends to offer more competitive spreads on its index CFDs.
In contrast, Eightcap provides more transparency by offering two clear account types: the Raw account, which is commission-based, and the Standard account, which relies on spreads alone. For the Raw account, Eightcap lists an average spread of 0.06 pips. When you include the per-side commission of $3.50 per trade, the total average cost comes to about 0.76 pips, which is slightly under the industry average of 0.8 pips. While not the cheapest in the forex market, Eightcap's costs are still reasonably competitive.
In terms of ratings, FinecoBank earns 3.5 out of 5 stars for commissions and fees, ranking #51 among 63 brokers according to ForexBrokers.com. Eightcap, with a higher rating of 4 stars, stands at a better position, ranking #26. Overall, Eightcap presents a more transparent and potentially more affordable option than FinecoBank for traders focusing on commissions and fees.
| 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 comparing FinecoBank and Eightcap, both online brokers provide forex trading through CFDs, catering to traders interested in currency markets. FinecoBank surpasses Eightcap with a staggering 9,770 tradeable symbols compared to Eightcap's 800. While Eightcap offers slightly more forex pairs with 56, FinecoBank offers a solid 54. A standout feature of FinecoBank is its access to exchange-traded securities on both U.S. and international exchanges, enabling clients to purchase shares like Apple and Vodafone directly, an option not available with Eightcap.
Eightcap shines with its support for copy trading, a feature absent in FinecoBank, and also offers cryptocurrency derivatives, while both brokers do not offer direct cryptocurrency purchasing. In terms of investment range, FinecoBank earns a 4.5-star rating compared to Eightcap's 3.5 stars and ranks 16th among 63 brokers for its investment offerings, whereas Eightcap ranks 40th. This comparison highlights FinecoBank as a stronger choice for traders seeking extensive investment options and direct access to global stock markets.
| Feature |
FinecoBank
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 800 |
| 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.
FinecoBank and Eightcap provide diverse offerings in their trading platforms and tools, catering to different trader preferences. FinecoBank distinguishes itself with a proprietary platform developed in-house, providing a unique user experience. The broker also supports Windows-based and web-based platforms, but does not include support for popular third-party platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). FinecoBank lacks features like copy trading and the ability to execute trades directly from stock charts. However, it offers a solid range of seven drawing tools for charting, though the number of technical indicators provided isn't specified. Notably, FinecoBank does not offer a paper trading account, which might limit new traders looking to practice without financial risk.
On the other hand, Eightcap appeals to traders seeking familiarity with industry-standard platforms, as it supports both MetaTrader 4 and MetaTrader 5. While it lacks a proprietary platform, it makes up for it with strong support for Windows-based and web-based trading. Eightcap impresses with its seven-column watch lists, providing traders detailed market insights. It also comes equipped with the ability to trade directly from stock charts, which can enhance trading efficiency. Additionally, Eightcap offers a free virtual demo account, making it a friendly choice for practice and strategy testing. Both brokers earn a four-star rating for their trading platforms and tools, yet FinecoBank holds a higher rank (#18) compared to Eightcap (#38) according to ForexBrokers.com. This comparison underscores the importance for traders to carefully consider which features are priorities in choosing their ideal partner.
| 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.
When comparing FinecoBank and Eightcap for mobile trading, both brokers provide apps for iPhone and Android users with the capability to set stock and forex price alerts. FinecoBank's app, however, lacks the ability for watchlist symbol syncing across devices, a feature available with Eightcap that ensures seamless updates between mobile and desktop platforms. Additionally, Eightcap edges out FinecoBank by offering a comprehensive charting experience with 30 technical studies and the ability to draw trendlines, whereas FinecoBank offers only 6 studies and lacks drawing functionalities. Both apps allow users to view different time frames like daily or weekly charts.
Moreover, Eightcap’s app supports creating watchlists with real-time quotes and automatically saves any chart drawings, enhancing convenience for active traders. This contrasts with FinecoBank, where users may need to frequently update their app settings manually. Despite these differences, both apps are well-rated at four stars out of five for mobile trading. However, Eightcap holds a slightly higher ranking at #38 compared to FinecoBank's #42 among 63 brokers in the Mobile Trading Apps category, possibly reflecting its additional features.
| 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 it comes to market research offerings, FinecoBank and Eightcap exhibit distinct strengths. FinecoBank does not provide daily market commentary but impresses with forex news sourced from industry leaders like Bloomberg and Reuters, allowing traders access to timely financial insights. In contrast, Eightcap excels in delivering daily market commentary, enhancing the day-to-day experience of its users. Both platforms fall short in offering technical analysis tools from Autochartist and Trading Central. However, Eightcap provides a sentiment-based trading tool that reveals the ratio of long versus short positions across various instruments, a feature absent in FinecoBank's portfolio.
FinecoBank and Eightcap both provide economic calendars, keeping traders informed on global news events, but neither offers market research from TipRanks nor tools from Acuity Trading. In terms of overall research ratings, FinecoBank achieves an impressive 4.0 stars, ranking 33rd out of 63 brokers on ForexBrokers.com. Eightcap, meanwhile, holds a slightly lower rating of 3.5 stars, ranking 39th. These distinctions highlight FinecoBank's edge in research, driven primarily by its access to high-tier forex news, while Eightcap attracts users with its daily market commentary and sentiment tool.
| 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 it comes to educational resources for beginners, FinecoBank and Eightcap offer distinct experiences. FinecoBank shines with its consistent monthly webinars designed to nurture online learning. These webinars cater to those new to forex and CFDs, actively engaging with live content every month. Moreover, FinecoBank offers a solid array of beginner educational videos, perfect for stepping into the world of trading, as well as a comprehensive investor dictionary to help demystify important investing terms. However, this broker does not provide a searchable archive of past webinars or a substantial library focused on forex or CFDs education.
Eightcap, contrastingly, excels with a rich library of over ten educational pieces centered on forex or CFDs, making it a prime choice for those eager to dive deep into these markets. Like FinecoBank, Eightcap offers beginner educational videos and boasts an easily searchable archive of previously recorded webinars, despite lacking monthly live webinars. Both brokers offer user-friendly investor dictionaries with over 50 investing terms. While Eightcap holds a slightly lower user rating at 3.5 stars compared to FinecoBank's 4.0 stars, it outranks FinecoBank in the Education category according to ForexBrokers.com, securing the 40th spot out of 63 brokers.
| 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 63 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
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|---|---|---|
| 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 | |
| Winner | check_circle | ||
| 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 | 800 | |
| 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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