Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
FXCM, established in 1999, is a prominent player in the online brokerage space, publicly traded and holding four Tier-1 licenses. It boasts a high ForexBrokers.com Trust Score of 95 out of 99, reflecting its reputation for reliability in the eyes of clients and industry experts. With two additional Tier-2 licenses, FXCM provides a secure trading environment, making it a favored choice for those seeking peace of mind in financial transactions.
Founded in 2009, Eightcap is a private online broker that holds three Tier-1 licenses, contributing to its solid trust rating of 85 on ForexBrokers.com. While not publicly traded, Eightcap has established itself as a trusted option, albeit without any Tier-2 licenses. Its Trust Score rating aligns it as a dependable choice, providing assurance for traders looking for a broker with satisfactory regulatory backing.
| Feature |
FXCM
|
Eightcap
|
|---|---|---|
| Year Founded | 1999 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 3 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing online brokers FXCM and Eightcap regarding commissions and fees, both have notable offerings. FXCM has a mixed pricing structure with slightly above-average forex trading costs. For its standard account, the average spread on EUR/USD sits at 0.78 pips in regions like the EU, U.K., and Australia. Meanwhile, for its St. Vincent and the Grenadines entity, the spread increases to 1.38 pips. On commission-based accounts, FXCM shows a more competitive spread averaging 0.28 pips, excluding commissions in May 2024. While its Active Trader Rebate Program, not available in the U.K. or EU, offers some potential discounts, FXCM's commission-based pricing reveals an effective spread closer to 0.74 pips when factoring in the commission-equivalent. FXCM holds a 4-star rating for its fees, placing it at #25 out of 63 brokers by ForexBrokers.com.
Eightcap provides traders with two primary account types, the Raw account being its commission-based option and showcasing an average spread as low as 0.06 pips. However, including its $3.50 per side commission, the all-in cost climbs to about 0.76 pips, which is slightly below the industry's 0.8 pips average. Despite this competitive pricing, Eightcap is still a bit pricier compared to the cheapest forex brokers. Holding the same 4-star rating as FXCM, Eightcap closely follows with a ranking of #26 out of 63 brokers in the commissions and fees category.
Both FXCM and Eightcap have their strengths and considerations for fees. FXCM provides appealing spreads for its commission-based accounts, especially when leveraging active trader discounts. Eightcap offers a low spread on its Raw account, though the added commissions bring the overall costs in line with many competitors. Choosing between them depends on specific trading needs, such as account type preference and region-specific offerings.
| Feature |
FXCM
|
Eightcap
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $100 |
| Average Spread EUR/USD - Standard | 0.78 | 1.0 |
| All-in Cost EUR/USD - Active | 0.78 | 0.76 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | 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 the investment options available at FXCM and Eightcap, both brokers offer CFD trading for forex, ensuring access to the highly liquid forex market. FXCM provides a total of 440 tradeable symbols, which includes 46 forex pairs, while Eightcap offers a larger range with 800 tradeable symbols and 56 forex pairs. Neither broker offers exchange traded securities on U.S. or international exchanges, such as buying shares of companies like Apple or Vodafone. Additionally, both platforms support copy trading, but do not allow for purchasing actual cryptocurrencies outright, focusing instead on cryptocurrency derivatives.
While both brokers have been rated 3.5 stars for their range of investments, Eightcap has a slight edge in its ranking, placed at #40 compared to FXCM's #47 out of 63 brokers reviewed by ForexBrokers.com. This difference might be attributed to the broader selection of tradeable symbols Eightcap offers. Despite the similarities in their core offerings, Eightcap might cater to users seeking a more extensive array of trading options.
| Feature |
FXCM
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 800 |
| Forex Pairs (Total) | 46 | 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 it comes to choosing a trading platform, both FXCM and Eightcap offer a range of options that suit different trader needs, including simulated trading with their free virtual demo accounts. FXCM excels with a proprietary platform developed in-house, alongside a strong reputation and high ranking for its platforms and tools. Both brokers provide access to a Windows-based desktop platform and a web-based trading experience, as well as MetaTrader 4 (MT4). However, FXCM does not support MetaTrader 5 (MT5), whereas Eightcap does, offering additional flexibility to traders looking for this option.
For traders interested in copy trading, both brokers have this feature, but FXCM stands out with the addition of ZuluTrade support, which Eightcap lacks. In terms of charting tools, FXCM offers fewer drawing tools compared to Eightcap, which provides 15 drawing tools for in-depth analysis. FXCM traders can enjoy a richer experience when it comes to creating watch lists, with 13 customizable fields compared to Eightcap's 7 fields. Overall, FXCM leads the way with a 5-star rating and a top rank of #6 by ForexBrokers.com for its trading platforms and tools, giving it a significant edge over Eightcap, which holds a 4-star rating and is ranked at #38.
| Feature |
FXCM
|
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) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FXCM and Eightcap offer comprehensive mobile trading apps for iPhone and Android users, ensuring convenience and accessibility for traders on the go. Each platform allows the creation of watchlists with real-time quotes, and both apps provide the ability to set price alerts for stocks or forex. Watchlist symbol syncing is available, so users can enjoy seamless transitions between their mobile and online accounts. Traders can draw trendlines and view multiple time frames on charts, with all drawings automatically saved for future reference.
While both apps share similar functionalities, FXCM excels in offering 59 technical studies for charting, compared to Eightcap's 30. This gives FXCM a distinct advantage for users looking for more in-depth analysis tools. Reflecting this, FXCM's mobile app has been rated 4.5 out of 5 stars and is ranked #16 out of 63 brokers by ForexBrokers.com. In comparison, Eightcap's app holds a 4-star rating, ranking #38. Overall, both platforms cater effectively to mobile traders, with FXCM providing a slightly more enhanced experience in terms of features and analysis options.
| Feature |
FXCM
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 59 | 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 FXCM and Eightcap for market research offerings, both provide daily market commentary and economic calendars to help traders stay informed. However, FXCM stands out with its access to forex news from top-tier sources like Bloomberg and Reuters, which Eightcap lacks. For traders seeking advanced analysis, FXCM offers tools from Trading Central, providing valuable insights, whereas Eightcap does not offer these resources.
Additionally, while both brokers have sentiment-based trading tools, FXCM offers research from TipRanks for deeper market analysis, a feature not available with Eightcap. As a result of its more comprehensive research options, FXCM earns a higher research rating of 4.5 stars compared to Eightcap’s 3.5 stars. According to ForexBrokers.com, this robust suite of tools places FXCM at #11 among 63 brokers for research, while Eightcap holds the #39 spot, indicating a notable difference in the depth and quality of research provided by the two brokers.
| Feature |
FXCM
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners diving into the world of forex and CFDs, both FXCM and Eightcap offer a range of educational resources you'll find valuable, but there are some differences in what they provide. FXCM stands out for offering a variety of learning materials, including more than 10 educational pieces such as articles, videos, and archived webinars. They also provide online educational webinars every month and have a searchable archive of these sessions. Additionally, FXCM caters to both novices and more experienced traders with at least 10 beginner and 10 advanced educational videos. Eightcap, on the other hand, matches FXCM with over 10 educational pieces and a searchable archive of recorded webinars but falls short by not offering regular online webinars or advanced educational videos specifically for seasoned traders.
Another aspect to consider is the availability of an investor dictionary. Both FXCM and Eightcap provide definitions for over 50 investing terms, aiding users in understanding complex terminology. However, FXCM's dedication to comprehensive educational resources is reflected in its 4.5-star rating for education, compared to Eightcap's 3.5 stars. Additionally, FXCM is ranked 14th out of 63 brokers by ForexBrokers.com in the Education category, while Eightcap ranks 40th. This ranking and rating highlight FXCM as a stronger contender for beginners eager to learn about trading forex and CFDs through diverse and accessible educational content.
| Feature |
FXCM
|
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 FXCM is better than Eightcap. FXCM finished with an overall rank of #15, while Eightcap finished with an overall rank of #38.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 85 |
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Both FXCM and Eightcap do not offer the ability to buy actual delivered cryptocurrency; however, they both provide options to trade cryptocurrency derivatives.
Both FXCM and Eightcap provide a wide range of options for depositing and withdrawing funds, including PayPal, Skrill, Visa, Mastercard, and bank wires, but only FXCM offers ACH or SEPA transfers as a payment method, setting it apart from Eightcap.
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 | FXCM | Eightcap | |
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| Trust Score | 95 | 85 | |
| Winner | check_circle | ||
| Review | FXCM Review | Eightcap Review |
| Broker Screenshots | FXCM | Eightcap | |
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| Regulation | FXCM | Eightcap | |
|---|---|---|---|
| Trust Score | 95 | 85 | |
| Year Founded | 1999 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 3 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| 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) | FXCM | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FXCM | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 800 | |
| Forex Pairs (Total) | 46 | 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 | FXCM | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.78 | 0.76 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | Eightcap | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $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 | Yes | No |
| Trading Platforms | FXCM | 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) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | Eightcap | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 59 | 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 | FXCM | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | 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 | FXCM | 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 | FXCM Review | Eightcap Review |
| Overall | FXCM | Eightcap | |
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| Trust Score | 95 | 85 | |
| Winner | check_circle | ||
| Review | FXCM Review | Eightcap Review |
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