Written by ForexBrokers.com
In this head to head comparison of Eightcap vs FXOpen, 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.
When comparing the online brokers Eightcap and FXOpen, both companies are privately-owned and non-bank entities established in 2009 and 2003 respectively. In terms of regulatory compliance, Eightcap stands out with three Tier-1 licenses, indicating a high level of trust according to ForexBrokers.com standards. FXOpen holds two Tier-1 licenses, suggesting slightly lower trust levels but still within a generally reliable range.
Evaluating their Trust Scores, Eightcap receives a score of 85 out of 99, classifying it as a trusted broker. FXOpen, however, has a Trust Score of 76, placing it in the average risk category. Despite these differences, neither broker holds any Tier-2 licenses, which are considered indicative of a lower, yet still significant, level of regulatory trust.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| Year Founded | 2009 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When it comes to commissions and fees, Eightcap provides traders with two account options: the commission-based Raw account and the spread-only Standard account. The Raw account lists an average spread of 0.06 pips, and after adding a per-side commission of $3.50 per trade, the all-inclusive cost is about 0.76 pips—slightly under the industry average. Despite this competitive pricing, Eightcap remains a bit more expensive than the most cost-effective forex brokers on the market. Eightcap is rated 4 stars for commissions and fees, ranking 26th out of 63 brokers on ForexBrokers.com.
On the other hand, FXOpen does not provide specific data on average spreads, which makes a precise comparison more challenging. However, like Eightcap, FXOpen achieves a 4-star rating for commissions and fees. According to ForexBrokers.com, FXOpen ranks 44th out of 63 brokers in the same category, indicating that FXOpen may not be as competitively priced as some of its peers.
In conclusion, both Eightcap and FXOpen offer similar star ratings for their commissions and fees, but Eightcap edges out FXOpen in terms of ranking. Eightcap's slightly higher costs are justified by its competitive average spread and commission structure, bringing it closer to the industry average.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $100 | $100 |
| Average Spread EUR/USD - Standard | 1.0 | N/A |
| All-in Cost EUR/USD - Active | 0.76 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| 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 Eightcap and FXOpen for their range of investments, both brokers offer forex trading through CFDs or spot contracts. Eightcap stands out with a vast selection of 800 tradeable symbols and 56 forex pairs, surpassing FXOpen's 87 symbols and 25 forex pairs. Neither broker provides access to exchange-traded securities on U.S. or international exchanges, so investors looking to trade equities directly will need to look elsewhere. However, both Eightcap and FXOpen feature cryptocurrency derivatives, although neither offers the option to purchase actual cryptocurrencies. Copy trading is available with both platforms, enhancing their appeal to traders seeking shared strategies.
In terms of recognition, Eightcap holds a slight edge with a 3.5-star rating for Range of Investments, while FXOpen garners a 3-star rating. According to ForexBrokers.com, Eightcap ranks 40th out of 63 brokers in this category, whereas FXOpen is positioned further back at 62nd. This indicates that while both brokers offer essential trading capabilities, Eightcap presents a broader market offering and holds a preferable standing in the investment community.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 800 | 87 |
| Forex Pairs (Total) | 56 | 25 |
| 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). |
Dive deeper: Best Copy Trading Platforms.
Both Eightcap and FXOpen offer a strong selection of trading platforms and tools, including popular options like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). While neither broker has a proprietary platform, both provide a Windows-based desktop download platform and web-based trading options. They also support copy trading, enhancing flexibility for traders. A key difference is FXOpen's inclusion of ZuluTrade, offering an additional social trading feature that Eightcap does not provide. Both brokers excel in user-friendly features such as the ability to trade directly from a stock chart and having robust charting tools, with 15 drawing tools each.
In terms of technical indicators, both platforms are equally equipped, although specific numbers weren't provided. Watch lists are customizable with up to 7 columns for easy management of your portfolio. Both Eightcap and FXOpen offer free virtual demo accounts, allowing new users to practice without risk. Both platforms have been rated four stars for their trading tools, but Eightcap ranks slightly higher at #38 compared to FXOpen's ranking at #53 out of 63 brokers on ForexBrokers.com. Despite this difference, both offer a strong trading environment suitable for a range of trader preferences.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Eightcap and FXOpen both offer mobile trading apps for iPhone and Android users, providing traders with the convenience of managing their portfolios on the go. Both platforms allow users to receive real-time stock or forex price alerts and offer a comprehensive set of 30 technical studies for chart analysis. Users can draw trendlines and access multiple time frames, such as daily, weekly, or intraday, to better analyze market trends on both apps. However, Eightcap has an edge with its watchlist feature, offering symbol syncing that allows watchlists in its mobile app to sync seamlessly with the user's online account. In contrast, FXOpen lacks this functionality.
In addition to watchlist syncing, Eightcap's mobile app auto-saves chart drawings, making it easier for traders to keep track of their analysis, whereas FXOpen requires manual saving. Both platforms allow users to create watchlists with real-time quotes. Despite having the same four-star rating for their mobile trading apps, Eightcap is ranked higher in the Mobile Trading Apps category by ForexBrokers.com, at #38, compared to FXOpen's ranking at #54 out of 63 brokers. This suggests that while both offer solid features, Eightcap's additional conveniences and syncing capabilities might make it a more appealing choice for mobile traders.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Eightcap and FXOpen, both brokers provide daily market commentary, ensuring that traders have access to regular insights and updates. However, Eightcap does not deliver forex news from top-tier sources like Bloomberg or Reuters, while FXOpen steps ahead by offering access to such prestigious information outlets. Neither broker provides technical analysis tools from Autochartist or Trading Central, nor do they offer research from TipRanks or tools from Acuity Trading, such as Signal Centre. A unique feature of Eightcap, though, is its sentiment-based trading tool, which displays the ratio of long to short positions across currency pairs, a feature absent in FXOpen. Both platforms include an economic calendar to keep traders informed about global news events.
Despite some similarities, Eightcap holds a slightly better research rating with 3.5 out of 5 stars compared to FXOpen's 3 stars. In the broader landscape of 63 brokers evaluated by ForexBrokers.com, Eightcap is positioned at rank 39 for research capabilities, significantly ahead of FXOpen, which comes in at rank 63. This comparison indicates that while both brokers offer essential features for market research, Eightcap may offer a marginally more comprehensive package for those prioritizing sentiment analysis and research rankings, albeit lacking in top-tier news resources.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| 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, Eightcap stands out compared to FXOpen. Eightcap provides a wide range of learning materials including more than ten articles and videos focused on forex and CFDs, making it a great starting point for new traders. Additionally, it offers an easily searchable archive of past webinars and a comprehensive beginner's video series to further support novice traders in navigating the world of online trading. FXOpen, on the other hand, does not meet these standards, as it lacks the same volume of educational content and does not provide an archive of webinars for ongoing learning.
Both Eightcap and FXOpen offer investor dictionaries with numerous investing terms, which are essential tools for understanding trading language. However, Eightcap’s broader resource offerings earn it a higher ranking in the education category, with a score of 3.5 stars and a solid placement at rank #40 among 63 brokers. FXOpen trails behind with a rating of 3 stars and is positioned at #58 in the same category. For those prioritizing educational content to kickstart their trading journey, Eightcap offers a more comprehensive suite of resources tailored for beginners.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 Eightcap is better than FXOpen. Eightcap finished with an overall rank of #38, while FXOpen finished with an overall rank of #54.
Eightcap enhances its status as a MetaTrader-only broker with support for a suite of third-party plug-ins, including TradingView.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 85 | 76 |
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Both Eightcap and FXOpen do not offer the ability to buy actual delivered cryptocurrencies, but they do provide options for trading cryptocurrency derivatives.
In comparing online brokers, Eightcap and FXOpen both support Skrill, Visa, Mastercard, and bank wire transactions, but only Eightcap offers PayPal as an additional option, whereas neither broker provides ACH or SEPA transfer options.
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 | Eightcap | FXOpen | |
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| Trust Score | 85 | 76 | |
| Winner | check_circle | ||
| Review | Eightcap Review |
| Broker Screenshots | Eightcap | FXOpen | |
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| Regulation | Eightcap | FXOpen | |
|---|---|---|---|
| Trust Score | 85 | 76 | |
| Year Founded | 2009 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | Eightcap | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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) | Eightcap | FXOpen | |
|---|---|---|---|
| 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 | Eightcap | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 800 | 87 | |
| Forex Pairs (Total) | 56 | 25 | |
| 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). |
| Cost | Eightcap | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.0 | N/A | |
| All-in Cost EUR/USD - Active | 0.76 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Eightcap | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $100 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | Eightcap | FXOpen | |
|---|---|---|---|
| Proprietary Platform | No | 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Eightcap | FXOpen | |
|---|---|---|---|
| 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) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Eightcap | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Eightcap | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Eightcap | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Eightcap | FXOpen | |
|---|---|---|---|
| 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 | Eightcap Review |
| Overall | Eightcap | FXOpen | |
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| Trust Score | 85 | 76 | |
| Winner | check_circle | ||
| Review | Eightcap Review |
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