Written by ForexBrokers.com
In this head to head comparison of Eightcap vs iFOREX, 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.
Eightcap, established in 2009, and iFOREX, founded in 1996, are both notable players in the online brokerage industry. Neither company is publicly traded or operates as a bank. In terms of regulation, Eightcap holds three Tier-1 licenses, regarded as highly reliable, supporting its ForexBrokers.com Trust Score rating of 85, which marks it as trusted. In contrast, iFOREX holds one Tier-1 license, contributing to its Trust Score rating of 75, placing it in the average risk category according to ForexBrokers.com.
This difference in regulatory status is crucial for potential clients considering the security and trustworthiness of an online broker. Although neither broker possesses Tier-2 licenses, Eightcap's additional Tier-1 licenses enhance its trust rating, offering more peace of mind for safety-conscious investors. Meanwhile, iFOREX's single Tier-1 license reflects a moderate level of assurance for those exploring various trading platforms.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| Year Founded | 2009 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of Eightcap and iFOREX, you'll find some distinct differences. Eightcap offers two types of accounts across its global platforms, with options including a commission-based Raw account and a spread-only Standard account. If you choose the Raw account, you'll encounter an average spread of 0.06 pips, and when you factor in a per-side commission of $3.50 per trade, the total cost hovers around 0.76 pips, slightly under the industry average. On the other hand, specific spread data for iFOREX is unavailable, which can make direct comparisons difficult.
In terms of pricing, Eightcap is generally not the cheapest option but remains competitive. Despite its higher costs compared to some low-cost brokers, Eightcap shines with a four-star rating for its commissions and fees, ranking #26 out of 63 brokers according to ForexBrokers.com. This places it well above iFOREX, which is rated three stars and slotted at #61 in the same category.
Overall, the choice between Eightcap and iFOREX depends on one's priorities. Eightcap might appeal to those looking for a more defined cost structure and a higher ranking in the industry for commissions and fees, while iFOREX's lack of detailed spread data might suit less cost-sensitive traders. With their varying pricing structures and rankings, both brokers offer unique choices based on individual needs and trading strategies.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| 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 | 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 investment offerings of Eightcap and iFOREX, both brokers cater well to those interested in forex trading. They each provide access to forex as a CFD or spot contract. Eightcap offers 800 tradeable symbols, whereas iFOREX offers 750. However, iFOREX takes the lead with a wider selection of forex pairs, boasting 88 compared to Eightcap's 56. Neither broker provides direct access to exchange-traded securities on U.S. or international stock exchanges, limiting clients who wish to directly invest in popular stocks like Apple or Vodafone.
For cryptocurrency enthusiasts, both brokers offer trading via derivatives but do not support direct cryptocurrency purchases. Eightcap distinguishes itself by offering copy trading, which isn't available through iFOREX. Both brokers share an identical rating of 3.5 stars for their range of investments. Despite their similarities, Eightcap manages a slight edge, ranking #40 compared to iFOREX's #41 out of 63 brokers in the ForexBrokers.com Range of Investments category. This difference might appeal to traders seeking specific features like copy trading or a broader selection of tradeable symbols.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 800 | 750 |
| Forex Pairs (Total) | 56 | 88 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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 Eightcap and iFOREX for their trading platforms and tools, it's clear that each broker caters to different trading preferences. Eightcap impresses with its support for popular platforms like MetaTrader 4 and MetaTrader 5, providing experienced traders with familiar and versatile tools. Additionally, Eightcap offers a simulated trading experience through free virtual demo accounts, allowing beginners to practice without financial risk. It also supports copy trading, enabling clients to follow successful traders. Traders using Eightcap can take advantage of its Windows-based desktop platform and web-based platform, making it accessible across various devices. Eightcap includes up to 15 drawing tools and supports trading directly from stock charts.
In contrast, iFOREX provides its own proprietary platform, offering a unique in-house trading experience. While it lacks options like MetaTrader 4 and MetaTrader 5, iFOREX excels with its web-based platform, which is user-friendly and suitable for those seeking a straightforward approach. Although iFOREX does not provide simulated trading or copy trading services, it offers an impressive selection of 25 drawing tools for chart analysis. Traders can also benefit from the ability to trade directly from stock charts, and with nine watch list columns, iFOREX users can track a diverse array of market data. Both Eightcap and iFOREX have been rated four stars for their trading platforms and tools, indicating a commendable level of satisfaction among their users. However, according to ForexBrokers.com, Eightcap holds a higher ranking at #38 compared to iFOREX at #54 out of 63 brokers in the same category.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 57 |
| Charting - Drawing Tools (Total) | 15 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading, both Eightcap and iFOREX offer apps for iPhone and Android, making them accessible for traders on the go. However, Eightcap stands out with several advanced features that enhance the user experience. Eightcap provides stock and forex price alerts, a notable feature that iFOREX lacks. A significant advantage of the Eightcap app is its ability to sync watchlist symbols with the client's online account, allowing seamless updates across platforms—something iFOREX does not offer. Charting on Eightcap's app is comprehensive, including 30 technical studies and tools for drawing trendlines, viewing multiple time frames, and auto-saving drawings, while iFOREX falls short in offering these capabilities.
For those looking to create watchlists with real-time quotes, Eightcap delivers this feature, aiding in timely trading decisions, whereas iFOREX does not. Despite both apps receiving a four-star rating for their mobile platforms, Eightcap is ranked higher at #38 compared to iFOREX's #55 by ForexBrokers.com, highlighting its edge in functionality and user satisfaction. For anyone prioritizing a feature-rich mobile trading experience, Eightcap proves to be a more comprehensive choice than iFOREX.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
Eightcap and iFOREX both deliver on essential market research features such as daily market commentary and economic calendars showcasing global news events. While neither provides forex news from top-tier sources like Bloomberg or Reuters, both platforms offer sentiment-based trading tools. However, iFOREX stands out by incorporating technical analysis tools from Trading Central, which Eightcap does not offer. This key difference can be crucial for traders seeking in-depth technical analysis features.
In the research category, both brokers are equally rated at 3.5 stars, though Eightcap is ranked slightly higher at #39 compared to iFOREX's #48 position among 63 brokers reviewed by ForexBrokers.com. While both platforms offer similar core features, Eightcap's overall higher ranking might provide traders with an added level of confidence. When choosing between these brokers, traders should consider their unique needs for technical tools and analysis as these elements can significantly impact trading strategies.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| 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.
For beginners looking to delve into forex or CFD trading, Eightcap provides a more extensive collection of educational resources compared to iFOREX. Eightcap offers over ten educational materials, including various articles, videos, and archived webinars centered on forex and CFDs. In contrast, iFOREX does not offer the same range of materials. Both brokers provide more than ten beginner-oriented videos to help newcomers understand trading topics, but neither offers advanced videos for experienced traders. Unlike iFOREX, Eightcap also includes an investor dictionary with more than 50 investing term definitions, aiding beginners in becoming familiar with crucial trading concepts.
Neither Eightcap nor iFOREX holds monthly educational client webinars; however, Eightcap stands out with a searchable archive of recorded webinars, providing learners with access to past sessions. Despite the differences in educational offerings, both brokers receive a 3.5-star rating for education. Nevertheless, in the ForexBrokers.com ranking for the education category, Eightcap is more favorably positioned at #40 out of 63 brokers, while iFOREX trails behind at #53. This ranking may be an indicator of the broader scope of resources Eightcap offers to those starting their trading journey.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
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 iFOREX. Eightcap finished with an overall rank of #38, while iFOREX finished with an overall rank of #52.
Eightcap enhances its status as a MetaTrader-only broker with support for a suite of third-party plug-ins, including TradingView.
| Feature |
Eightcap
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iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 85 | 75 |
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Both Eightcap and iFOREX provide users with the capability to invest in cryptocurrency derivatives, but neither platform allows for the purchase of actual, delivered cryptocurrencies.
Both Eightcap and iFOREX provide a variety of options for depositing and withdrawing account funds, including PayPal, Skrill, Visa or Mastercard, and bank wires, but neither 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 | Eightcap | iFOREX | |
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| Trust Score | 85 | 75 | |
| Winner | check_circle | ||
| Review | Eightcap Review |
| Broker Screenshots | Eightcap | iFOREX | |
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| Regulation | Eightcap | iFOREX | |
|---|---|---|---|
| Trust Score | 85 | 75 | |
| Year Founded | 2009 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Eightcap | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 800 | 750 | |
| Forex Pairs (Total) | 56 | 88 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | Eightcap | iFOREX | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Eightcap | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $100 | $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 | Eightcap | iFOREX | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Eightcap | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | 57 | |
| Charting - Drawing Tools (Total) | 15 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Eightcap | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Eightcap | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Eightcap | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Eightcap | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
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| Trust Score | 85 | 75 | |
| Winner | check_circle | ||
| Review | Eightcap Review |
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