Written by ForexBrokers.com
In this head to head comparison of IC 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.
When comparing online brokers, IC Markets and Eightcap, it's important to delve into their regulatory backgrounds, as this can provide insight into their level of trustworthiness. Both IC Markets, established in 2007, and Eightcap, founded in 2009, are not publicly traded companies nor are they banks. When it comes to regulatory licenses, IC Markets holds 2 Tier-1 licenses, indicating a high level of trust according to ForexBrokers.com. Meanwhile, Eightcap holds 3 Tier-1 licenses, suggesting a similar level of credibility.
In terms of trust scores, IC Markets earns an 84 out of 99, placing it in the trusted category, while Eightcap scores slightly higher at 85, also considered trusted. Neither broker holds any Tier-2 licenses, which are deemed trusted but less highly regarded compared to Tier-1. With these scores and regulatory standings, both brokers can be considered reliable options for traders, with Eightcap having a marginal edge in trust score and regulatory licensing.
| Feature |
IC Markets
|
Eightcap
|
|---|---|---|
| Year Founded | 2007 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
In comparing IC Markets to Eightcap regarding their commissions and fees, IC Markets stands out with its competitive pricing structure. IC Markets offers three types of accounts: the commission-free Standard account, and the commission-based Raw Spread and cTrader Raw Spread accounts. The cTrader account charges a lower commission of $3 per side per 100,000 units, whereas the MetaTrader accounts charge $3.5 per side. Adding these commissions to their average spread on the EUR/USD pair, IC Markets' total costs are highly competitive, making them one of the best low-cost options. For its excellent pricing, IC Markets boasts a 5-star rating and is ranked 5th out of 63 brokers by ForexBrokers.com in the Commissions and Fees category.
On the other hand, Eightcap offers two account types: the commission-based Raw account and the spread-only Standard account. For the Raw account, Eightcap lists an average spread of 0.06 pips. With an additional commission of $3.50 per side, the total cost comes to about 0.76 pips, slightly under the industry average. Despite offering solid pricing, Eightcap does not match the cost-effectiveness of the top-ranking brokers, leading to a 4-star rating and a rank of 26 out of 63 in the Commissions and Fees category.
In summary, IC Markets presents a more attractive option in terms of trading costs for those looking for low commissions and spreads. The difference in pricing structures between their platforms provides flexibility for traders, especially active ones, who can take advantage of discounts. While Eightcap is cost-effective, it remains slightly more expensive compared to top forex brokers, including IC Markets.
| Feature |
IC Markets
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $200 | $100 |
| Average Spread EUR/USD - Standard | 0.62 | 1.0 |
| All-in Cost EUR/USD - Active | 0.62 | 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 the range of investments offered by IC Markets and Eightcap, several key differences arise. Both brokers provide forex trading through CFDs or spot contracts, with IC Markets offering 61 tradeable forex pairs compared to Eightcap's 56 pairs. IC Markets stands out by offering a substantially larger pool of tradeable symbols, totaling 3583, while Eightcap provides 736. Neither platform provides access to exchange-traded securities on U.S. exchanges, but IC Markets does give clients the opportunity to invest in international exchange securities, a feature not available with Eightcap. Additionally, both brokers offer copy trading options, and provide access to cryptocurrency derivatives, as opposed to actual cryptocurrencies.
In terms of performance recognition, IC Markets appears to hold a stronger position in the market; it is ranked 25th out of 63 brokers by ForexBrokers.com for its range of investments, earning a score of 4.5 stars in this category. Meanwhile, Eightcap is positioned at 40th with a 3.5-star rating for its investment offerings. These distinctions may influence a trader’s decision, depending on their investment preferences and priorities in the financial markets.
| Feature |
IC Markets
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 736 |
| Forex Pairs (Total) | 61 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | 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 IC Markets and Eightcap, both brokers provide a strong selection of trading platforms and tools tailored for diverse trading needs. Both offer MetaTrader 4 and MetaTrader 5, popular platforms known for their extensive features and reliability. While neither broker has developed their own proprietary platform, they both support Windows-based desktop downloads and web-based platforms, providing flexibility for traders who prefer different interfaces. Additionally, both IC Markets and Eightcap offer free virtual demo accounts, enabling traders to simulate real trading experiences without financial risk. They also provide the option to trade directly from stock charts and feature an equal number of drawing tools, enhancing their charting capabilities.
Despite sharing similar platform features, there are a few distinctions between the two brokers in terms of advanced tools. Both allow for copy trading, but IC Markets stands out by offering ZuluTrade. This difference may influence traders who prioritize social trading tools. They both provide seven fields for watch lists, which enhances the ability to monitor multiple assets simultaneously. While both IC Markets and Eightcap received an equal rating of 4 out of 5 stars for their Trading Platforms and Tools, IC Markets is ranked higher by ForexBrokers.com, taking the 16th spot compared to Eightcap's 38th. This ranking indicates a slight edge in IC Markets’ offerings, potentially making it a more attractive choice for certain traders.
| Feature |
IC Markets
|
Eightcap
|
|---|---|---|
| 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 | Yes | No |
| 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.
Both IC Markets and Eightcap offer user-friendly iPhone and Android trading apps that are perfect for forex and stock traders on-the-go. They include essential features like stock or forex price alerts and tools to create watchlists with real-time quotes. While both apps allow for drawing trendlines and viewing various timeframes on charts with 30 technical studies, and they conveniently auto-save your chart drawings, Eightcap goes a step further by offering watchlist symbol syncing with their client's online account, making seamless management a breeze.
When it comes to user ratings, both brokers receive high praise with a solid four-star rating for their mobile trading capabilities. IC Markets, however, holds a higher position at #22 compared to Eightcap's #38 ranking by ForexBrokers.com out of 63 brokers. This small difference could be a deciding factor for potential users focused on expert reviews. Ultimately, both apps are well-equipped to support your trading efforts right from your mobile device.
| Feature |
IC 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 | 30 | 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 the market research offerings of online brokers IC Markets and Eightcap, a few key features stand out. Both brokers provide daily market commentary and an economic calendar to keep traders informed of global events. However, IC Markets distinguishes itself by offering forex news from top-tier sources like Bloomberg and Reuters, which Eightcap does not. Additionally, IC Markets provides access to advanced technical analysis tools from Autochartist and Trading Central, which can be essential for traders seeking deep market insights, a feature that Eightcap lacks.
Both brokers offer a sentiment-based trading tool that provides a ratio of long or short positions, aiding traders in gauging market sentiment. Despite these shared features, IC Markets is rated slightly higher in research, earning 4 out of 5 stars and ranking 23rd out of 63 brokers according to ForexBrokers.com, compared to Eightcap's 3.5-star rating and 39th place ranking. These differences highlight IC Markets' stronger focus on providing comprehensive market research tools to enhance trading decisions.
| Feature |
IC 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 comparing IC Markets and Eightcap in terms of educational resources for beginners, IC Markets stands out with a broader offering. Both brokers provide more than 10 educational materials focused on forex and CFDs, including articles, videos, and archived webinars. While Eightcap also offers a searchable archive of past webinars, IC Markets goes further by hosting live webinars at least once a month, adding a dynamic element to their resources. Additionally, both brokers deliver educational videos specifically tailored for beginners, but IC Markets extends its library to include advanced topics for experienced traders, a feature missing from Eightcap’s offerings.
In terms of additional learning tools, IC Markets and Eightcap both offer an investor dictionary that covers over 50 investing terms, aiding beginners in understanding trading jargon. However, when evaluating their overall educational effectiveness, IC Markets has a slight edge, earning a four-star rating compared to Eightcap's 3.5 stars. This distinction is underscored by their rankings for educational resources on ForexBrokers.com, where IC Markets is positioned at #16 out of 63 brokers, while Eightcap ranks at #40. This comparison highlights IC Markets as a slightly more comprehensive option for those seeking educational support in their trading journey.
| Feature |
IC 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 IC Markets is better than Eightcap. IC Markets finished with an overall rank of #20, while Eightcap finished with an overall rank of #38.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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Eightcap
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|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 85 |
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Both IC Markets and Eightcap do not offer the option to buy actual delivered cryptocurrency, but they do provide the ability to trade cryptocurrency derivatives.
IC Markets and Eightcap both provide several options for fund deposits and withdrawals, including PayPal, Skrill, Visa/Mastercard, and bank wires, but neither broker supports ACH or SEPA transfers.
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 | IC Markets | Eightcap | |
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| Trust Score | 84 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Eightcap Review |
| Broker Screenshots | IC Markets | Eightcap | |
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| Regulation | IC Markets | Eightcap | |
|---|---|---|---|
| Trust Score | 84 | 85 | |
| Year Founded | 2007 | 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 | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC 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) | IC Markets | 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 | IC Markets | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 736 | |
| Forex Pairs (Total) | 61 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | IC Markets | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.76 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $200 | $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 | IC Markets | Eightcap | |
|---|---|---|---|
| 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 | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC 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) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC 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 | 30 | 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 | IC 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 | IC 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 | IC 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 | IC Markets Review | Eightcap Review |
| Overall | IC Markets | Eightcap | |
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| Trust Score | 84 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Eightcap Review |
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