Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers, established in 1977, is a leading online broker known for its high level of trustworthiness. It holds a top-tier Trust Score of 99 out of 99 from ForexBrokers.com, indicating it is highly trusted. Additionally, the broker is publicly traded and has a solid regulatory standing with 9 Tier-1 licenses and 2 Tier-2 licenses. This comprehensive regulatory framework helps reassure users of their safety in using Interactive Brokers’ services.
On the other hand, Eightcap, founded in 2009, has built its presence over the years. It boasts a respectable Trust Score of 85 out of 99, categorizing it as a trusted choice according to ForexBrokers.com. Although not publicly traded, Eightcap is still a reliable player, safeguarding clients’ interests with 3 Tier-1 licenses. While it lacks Tier-2 licenses, Eightcap continues to maintain a strong position under its current licenses.
| Feature |
Interactive Brokers
|
Eightcap
|
|---|---|---|
| Year Founded | 1977 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 3 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the commissions and fees between Interactive Brokers and Eightcap, Interactive Brokers stands out with a competitive pricing structure, receiving a top rating of 5 stars and ranking 2nd in the Commissions and Fees category out of 63 brokers. Despite the challenge of finding precise comparisons due to variable average spreads for forex, Interactive Brokers offers attractive pricing, such as an average spread of 0.19 pips for the EUR/USD pair in Q3 2024. With commissions starting at 0.2 basis points per side and the potential to drop to 0.08 basis points for active traders, it provides a favorable low-cost option, although a minimum commission charge applies for smaller trades.
Conversely, Eightcap is a slightly pricier choice for forex trading, earning a 4-star rating and ranking 26th among brokers in the same category. Eightcap offers two accounts: the commission-based Raw account, which lists an average spread of 0.06 pips but an all-in cost of roughly 0.76 pips due to a $3.50 per-side commission, and the spread-only Standard account. This places Eightcap just below the industry average of 0.8 pips for overall costs, making it a more expensive alternative than some of the lowest-cost forex brokers.
Overall, Interactive Brokers is suitable for more active traders seeking lower commissions, especially when trading in higher volumes to benefit from discounts, while Eightcap provides a straightforward account selection, though at a slightly higher cost.
| Feature |
Interactive Brokers
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 0.59 | 1.0 |
| All-in Cost EUR/USD - Active | 0.59 | 0.76 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Interactive Brokers and Eightcap for their investment options, several key differences emerge. Interactive Brokers stands out by offering a wider variety of tradeable symbols, boasting an impressive 8,500 compared to Eightcap's 800. In the realm of forex trading, Interactive Brokers provides access to 90 tradeable forex pairs, while Eightcap offers 56. Additionally, Interactive Brokers allows clients to invest in exchange-traded securities on both U.S. and international exchanges. This means investors can easily purchase shares of companies like Apple and Vodafone through Interactive Brokers. In contrast, Eightcap does not offer access to exchange-traded securities, focusing instead on other investment types.
When it comes to cryptocurrency investments, Interactive Brokers once again provides greater flexibility, allowing clients to buy actual cryptocurrencies and their derivatives. Eightcap, meanwhile, offers cryptocurrency trading solely through derivatives. On the other hand, Eightcap caters to clients interested in copy trading, a feature not available at Interactive Brokers. Reflecting these distinctions, Interactive Brokers received a 5-star rating for its range of investments, ranking first among 63 brokers, while Eightcap received a 3.5-star rating, ranking 40th according to ForexBrokers.com.
| Feature |
Interactive Brokers
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 800 |
| Forex Pairs (Total) | 90 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | 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 choosing between Interactive Brokers and Eightcap for your trading needs, both platforms offer compelling features, but there are notable differences in tools and platforms. Interactive Brokers provides a free virtual demo account and has designed its own in-house proprietary trading platform, available both for download on Windows and via the web. In contrast, Eightcap also offers a simulated trading experience, but relies on popular third-party platforms like MetaTrader 4 and MetaTrader 5, without a proprietary option. Both brokers cater to web-based and Windows desktop trading, but Eightcap sets itself apart by enabling copy trading.
In terms of charting tools, Interactive Brokers gives users access to an impressive 85 drawing tools compared to Eightcap's 15. Additionally, Interactive Brokers offers 659 columns for watch lists, greatly surpassing Eightcap's 7. Though both platforms allow trading directly from a stock chart, Interactive Brokers ranks higher with trading platforms and tools, earning a 5-star rating and a position as third among 63 brokers according to ForexBrokers.com. Eightcap, while still strong, receives a slightly lower 4-star rating and ranks 38th in the same category.
| Feature |
Interactive Brokers
|
Eightcap
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Interactive Brokers and Eightcap, both platforms offer versatility for traders on the go, supporting iPhone and Android devices. They both provide essential trading features like stock or forex price alerts, watchlist symbol syncing, and the ability to draw trendlines on charts. Importantly, both apps allow traders to view charts in multiple time frames, such as daily and intraday, effectively meeting the needs of both casual and professional traders. However, in terms of technical studies available in the app, Interactive Brokers outshines Eightcap, offering 97 compared to Eightcap’s 30.
Despite these similarities, there are key differences. Eightcap’s app automatically saves drawings on charts, which could be a critical feature for active chartists, while Interactive Brokers does not. Rating-wise, Interactive Brokers boasts a perfect score of 5 stars, standing at 4th place out of 63 brokers on ForexBrokers.com, suggesting a more highly praised user experience. Meanwhile, Eightcap holds a respectable 4-star rating and ranks 38th, reflecting a solid but less acclaimed offering compared to Interactive Brokers in the mobile trading app arena.
| Feature |
Interactive Brokers
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 97 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Interactive Brokers and Eightcap, both brokers provide daily market commentary to keep traders informed. However, Interactive Brokers takes a significant lead with its access to forex news from high-end sources like Bloomberg and Reuters, which Eightcap lacks. Interactive Brokers further enhances its research capabilities with tools and insights from Trading Central and TipRanks, both notable for their technical analysis benefits. In contrast, Eightcap does not provide these resources, which may limit its appeal for traders interested in in-depth market analysis. Both brokers, however, offer a sentiment-based trading tool and a comprehensive economic calendar.
Interactive Brokers also stands out with its offerings from Acuity Trading, including the Signal Centre, a feature absent from Eightcap. These advanced tools and services contribute to Interactive Brokers' higher research rating of 5 stars from ForexBrokers.com, compared to Eightcap's 3.5 stars. Additionally, Interactive Brokers is ranked as the third-best brokerage for research out of 63, a testament to its comprehensive research capabilities, while Eightcap holds the 39th position. This comparison underscores Interactive Brokers as a superior choice for those prioritizing extensive market research resources.
| Feature |
Interactive Brokers
|
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) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both Interactive Brokers and Eightcap offer a solid foundation with at least ten educational pieces focusing on forex and CFDs. Interactive Brokers stands out by hosting monthly educational webinars and providing access to a searchable archive of recorded sessions, which is a feature also offered by Eightcap. However, Eightcap does not conduct monthly webinars, which could be a disadvantage for those seeking regular live learning opportunities.
Interactive Brokers also excels by providing a comprehensive selection of beginner and advanced educational videos, while Eightcap only meets the mark for beginner content. Both brokers include an investor dictionary with over 50 terms, aiding in familiarizing users with essential investing vocabulary. The difference in educational excellence is reflected in their ratings and ranks, with Interactive Brokers receiving a 5-star rating and a strong #3 ranking out of 63 brokers. In contrast, Eightcap holds a 3.5-star rating and is positioned at #40, indicating a gap in the depth and breadth of educational support available to traders.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than Eightcap. Interactive Brokers finished with an overall rank of #2, while Eightcap finished with an overall rank of #38.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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Eightcap
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|---|---|---|
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| Trust Score | 99 | 85 |
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Interactive Brokers allows clients to buy both actual delivered cryptocurrency and cryptocurrency derivatives, while Eightcap only offers the ability to trade cryptocurrency derivatives, not the actual cryptocurrency.
Interactive Brokers supports ACH, SEPA, and bank wire transfers for depositing or withdrawing funds, while Eightcap facilitates transactions using PayPal, Skrill, Visa, Mastercard, and bank wires, highlighting the distinct payment options offered by each broker.
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 | Interactive Brokers | Eightcap | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Eightcap Review |
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| Regulation | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Trust Score | 99 | 85 | |
| Year Founded | 1977 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 3 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 800 | |
| Forex Pairs (Total) | 90 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.59 | 0.76 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 97 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review | Eightcap Review |
| Overall | Interactive Brokers | Eightcap | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Eightcap Review |
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