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 choosing a trading platform, both FinecoBank and Eightcap present unique advantages tailored to diverse trading needs. FinecoBank stands out by offering its own proprietary platform developed in-house and designed specifically for its users, alongside a Windows-based desktop download and a convenient web-based platform. However, it lacks options for simulated trading or copy trading, and it does not support popular trading tools like MetaTrader4 or MetaTrader5. FinecoBank provides seven drawing tools for charting, but it does not allow users to trade directly from stock charts, which can limit some trading strategies.
Conversely, Eightcap supports both MetaTrader4 and MetaTrader5, offering a familiar interface for traders already accustomed to these platforms. Eightcap facilitates simulated trading through a free virtual demo account, alongside its Windows and web-based platforms. It doesn't offer a proprietary platform but makes up for it with the ability to trade directly from stock charts, a feature valued by many active traders. Eightcap includes copy trading and boasts fifteen drawing tools for charting, delivering more versatility for technical analysis. Despite these differences, both brokers have earned a 4-star rating for their trading platforms and tools, though FinecoBank holds a higher rank in this category 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 it comes to market research, FinecoBank and Eightcap have distinct offerings tailored to different kinds of traders. FinecoBank shines by providing forex news sourced from well-regarded platforms like Bloomberg, Reuters, and Dow Jones. This ensures that traders using FinecoBank have access to top-tier information. However, Eightcap is preferred by those who value daily market commentary as it offers this feature, keeping traders abreast of the latest market developments. Both platforms provide economic calendars that display important global news events, helping traders plan their strategies around market-moving occurrences.
Eightcap stands out with its unique sentiment-based trading tool, which helps traders understand market dynamics by showing the ratio of long or short positions across various instruments. In contrast, while FinecoBank lacks this feature, it is slightly ahead in overall research ratings, securing a 4.0-star rating compared to Eightcap's 3.5. This reflects in their rankings, with FinecoBank positioned at #33 out of 62 brokers, ahead of Eightcap, which is ranked at #39 according to ForexBrokers.com. Neither broker currently offers tools from popular companies like Autochartist or Trading Central, which indicates room for growth in their analytical offerings.
| 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.
For beginners looking to dive into forex and CFD trading with ample resources, Eightcap stands out with its collection of educational materials. Offering over ten pieces dedicated to forex and CFD education, including articles, videos, and archived webinars, Eightcap provides newcomers with a solid foundation. The platform also features a searchable archive of past client webinars, a valuable tool for those looking to learn from previously recorded sessions. Beginners will find plenty of instructional videos tailored to their level, but advanced traders won't find specific series dedicated to their needs. Additionally, Eightcap offers an easy-to-navigate investor dictionary, ensuring users grasp key investing terms.
FinecoBank, on the other hand, excels in providing live interactions through its monthly educational webinars, although it lacks a searchable archive for these sessions. Despite not offering a wide range of dedicated forex or CFD learning materials, beginners can still find a selection of simple trading videos tailored to their learning curve. Like Eightcap, FinecoBank includes an investor dictionary with essential terms to enhance user understanding. Although FinecoBank is rated slightly higher than Eightcap with 4.0 stars in education, FinecoBank ranks lower at #49 compared to Eightcap's #40 by ForexBrokers.com. This comparison highlights an interesting mix of educational strengths catering to different learning preferences.
| 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
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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 |
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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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