Written by ForexBrokers.com
In this head to head comparison of FP Markets 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.
FP Markets, founded in 2005, and Eightcap, established in 2009, are both online brokers known for their financial trading services. Neither company is publicly traded or operates as a bank. FP Markets holds a slightly higher ForexBrokers.com Trust Score of 89, placing it in the "trusted" category. In terms of regulatory licenses, FP Markets holds two Tier-1 licenses, indicative of high trust, and one Tier-2 license, which is also regarded as trustworthy.
Similarly, Eightcap, while having a Trust Score of 85 from ForexBrokers.com, also falls within the trusted range. It secures its standing by holding three Tier-1 licenses, demonstrating a strong foundation in financial security. However, unlike FP Markets, Eightcap does not possess any Tier-2 licenses. Both brokers provide a reasonable level of trust, each with its own regulatory strengths.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Year Founded | 2005 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
FP Markets stands out with its highly competitive pricing model for traders globally, particularly through its commission-based ECN account offered on both MetaTrader and cTrader platforms. This has earned FP Markets the prestigious Best in Class honor for Commissions and Fees in the 2024 Annual Awards. The Raw ECN account from FP Markets offers an impressive average spread of 0.1 pips, which amounts to 0.8 pips all-in when accounting for commissions. Alternatively, the Standard account features higher spreads, averaging 1.1 pips for the EUR/USD as of October 2023. The broker's Iress platform, particularly its DMA offering, caters to high-balance accounts with options such as the Standard, Platinum, and Premier accounts, although these may incur additional platform and data fees if certain conditions are not met. FP Markets receives a 5-star rating for commissions and fees and is ranked 6th out of 63 brokers by ForexBrokers.com.
On the other hand, Eightcap presents two account types, namely the Raw account, which is commission-based, and it’s spread-only Standard account. The Raw account reports an average spread of 0.06 pips, but when the per-side commission of $3.50 is included, the all-in cost rises to approximately 0.76 pips, slightly under the industry average of 0.8 pips. While Eightcap provides diverse options across entities in Australia, the Bahamas, the U.K., and Cyprus, it tends to be slightly more expensive compared to some of the more cost-effective forex brokers in the market. Eightcap is rated 4 stars for its commissions and fees and holds the 26th position out of 63 brokers, as per ForexBrokers.com rankings.
Overall, FP Markets offers more competitive pricing structures, particularly for active traders with high-balance accounts willing to navigate its various account types and platforms. Eightcap offers a comparable cost structure but tends to lean on the pricier side relative to the most competitive options available. Both brokers provide viable choices, depending on the individual requirements and trading volumes of their clients, but FP Markets takes the edge in terms of both ratings and rankings for commissions and fees.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $100 AUD | $100 |
| Average Spread EUR/USD - Standard | 1.2 | 1.0 |
| All-in Cost EUR/USD - Active | 0.7 | 0.76 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing FP Markets and Eightcap based on their range of investments, FP Markets clearly stands out with a broader selection. FP Markets provides access to 10,000 tradeable symbols, while Eightcap offers 800. Forex trading is available through both platforms as a CFD or spot contract, but FP Markets gives traders more options with 71 forex pairs compared to Eightcap's 56. Neither broker offers the ability to trade exchange-traded securities on U.S. or international exchanges, nor do they offer the ability to buy actual cryptocurrencies; however, they both provide options for cryptocurrency derivatives.
In terms of advanced trading features, both FP Markets and Eightcap offer copy trading. FP Markets earns a slightly higher rating of 4.5 stars for its range of investments compared to Eightcap's 3.5 stars. Furthermore, FP Markets is ranked #18 out of 63 brokers by ForexBrokers.com in the Range of Investments category, while Eightcap holds the 40th position. This makes FP Markets a more comprehensive choice for traders seeking variety in their investment opportunities.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 800 |
| Forex Pairs (Total) | 71 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | 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 comparing the trading platforms and tools offered by FP Markets and Eightcap, both brokers provide traders with a comprehensive range of options to enhance their trading experience. FP Markets stands out by offering a proprietary trading platform, developed in-house, which complements their availability of widely-used platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Eightcap also supports MT4 and MT5 but does not offer its own platform. Both brokers facilitate trading through Windows desktop downloads and web-based browser platforms, ensuring accessibility for different trading preferences. Additionally, they both offer free virtual demo accounts, allowing users to practice their trading strategies risk-free, and support copy trading features to enable users to follow and replicate trades from successful traders.
In terms of charting tools, FP Markets provides traders with 17 drawing tools, slightly more than Eightcap, which offers 15. Both brokers enable trading directly from stock charts and offer watch lists with seven customizable columns for tracking various fields. Despite the similarities, FP Markets has a higher ranking for its trading platforms and tools, placed at #23 by ForexBrokers.com out of 63 brokers, compared to Eightcap's #38. However, both brokers receive a four-star rating in the trading platforms and tools category, indicating a competitive edge in providing reliable and effective trading solutions for their clients.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both FP Markets and Eightcap provide handy options for traders using either iPhone or Android devices. Each app offers essential features like stock and forex price alerts, the ability to draw trendlines, and multiple time frame views. Additionally, both FP Markets and Eightcap allow users to create watchlists with real-time quotes and ensure that any chart drawings are automatically saved for future reference.
While both platforms provide a satisfactory mobile trading experience, there are certain differences. Eightcap offers watchlist symbol syncing with their client's online account, a feature that FP Markets lacks. In terms of charting capabilities, Eightcap includes 30 technical studies, compared to FP Markets’ standard MetaTrader options. Despite these differences, each app has earned a respectable 4-star rating for mobile trading. Notably, FP Markets ranks higher on ForexBrokers.com, securing the 18th spot out of 63 brokers compared to Eightcap's 38th place rating.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research offerings between FP Markets and Eightcap, several distinctions arise. Both brokers provide daily market commentary and an economic calendar to keep traders updated on global news events. FP Markets, however, stands out by providing forex news from renowned sources like Bloomberg, Reuters, and Dow Jones, while Eightcap falls short in this aspect. Additionally, FP Markets integrates more sophisticated tools such as Autochartist and Trading Central, offering comprehensive technical and fundamental analysis resources. Although both brokers offer sentiment-based trading tools indicating long or short positions across currency pairs, the breadth of FP Markets' research tools gives it a distinct advantage in this area.
In overall research capabilities, FP Markets outpaces Eightcap, earning a 4-star rating compared to Eightcap's 3.5-star rating. This difference is also reflected in their rankings by ForexBrokers.com, where FP Markets is positioned at #25 among 63 brokers, surpassing Eightcap, which holds the #39 spot. Traders seeking in-depth market insights and analysis tools might find FP Markets the more compelling choice due to its extensive range of top-tier news access and proprietary analysis tools.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | 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 in the world of forex and contracts for difference (CFDs), FP Markets shines compared to Eightcap. Both brokers provide access to essential learning materials, exceeding the minimum of 10 resources such as articles and videos. In addition, FP Markets stands out by offering regular monthly educational webinars, something Eightcap does not currently provide. For those who can't attend live sessions, FP Markets and Eightcap both maintain archives of recorded webinars, allowing beginners to learn at their own pace.
Beyond general resources, FP Markets caters to both newcomers and experienced traders by offering over 10 beginner-focused trading videos and an equal number of advanced videos, which Eightcap lacks in the advanced category. Both brokers feature an investor dictionary with over 50 definitions to clarify investing jargon. Overall, FP Markets garners a higher education rating of 4 stars out of 5, compared to Eightcap's 3.5 stars. In rankings by ForexBrokers.com, FP Markets holds the 23rd spot out of 63 brokers for educational offerings, while Eightcap is positioned at 40th.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | 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 FP Markets is better than Eightcap. FP Markets finished with an overall rank of #19, while Eightcap finished with an overall rank of #38.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 85 |
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Both FP Markets and Eightcap do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
FP Markets and Eightcap both offer diverse funding options including PayPal, Skrill, Visa or Mastercard, and bank wires, but neither provides ACH or SEPA transfers for account deposits or withdrawals.
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 | FP Markets | Eightcap | |
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| Trust Score | 89 | 85 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Eightcap Review |
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| Regulation | FP Markets | Eightcap | |
|---|---|---|---|
| Trust Score | 89 | 85 | |
| Year Founded | 2005 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | 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) | No | 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) | FP Markets | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 800 | |
| Forex Pairs (Total) | 71 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | 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 | FP Markets | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.7 | 0.76 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | FP Markets | Eightcap | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | Eightcap | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FP Markets | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | Eightcap | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FP Markets | 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 | FP Markets Review | Eightcap Review |
| Overall | FP Markets | Eightcap | |
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| Trust Score | 89 | 85 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Eightcap Review |
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