Written by ForexBrokers.com
In this head to head comparison of Saxo 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 the online brokerage firms Saxo and Eightcap, several key differences emerge, especially in terms of trust and regulation. Founded in 1992, Saxo is not only a well-established player but also operates as a bank. This firm holds an impressive seven Tier-1 licenses, which are the highest category of regulatory trust according to ForexBrokers.com. Saxo also possesses a Tier-2 license, distinguishing it further in the regulatory landscape. These factors contribute to Saxo's outstanding Trust Score rating of 99 out of 99, reflecting its status as a highly trusted financial institution.
In contrast, Eightcap, founded in 2009, does not operate as a bank but maintains a solid presence in the financial market. While it doesn’t have any Tier-2 licenses, it does hold three Tier-1 licenses. This gives Eightcap a respectable Trust Score of 85 out of 99, showcasing it as a trusted broker, albeit not as high as Saxo on the trust scale. Both companies are privately held and not publicly traded, but their regulatory profiles differ significantly, with Saxo clearly leading in trustworthiness and regulatory credentials.
| Feature |
Saxo
|
Eightcap
|
|---|---|---|
| Year Founded | 1992 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to commissions and fees, Saxo excels with great pricing options suitable for a diverse range of investors. They are particularly appealing to active and high-volume traders, as well as those maintaining large account balances. As of November 2023, Saxo's average spreads on the EUR/USD started at 1.1 pips for their Classic account and dropped to as low as 0.9 pips for their VIP account. Importantly, these rates become even more competitive for those qualifying for the higher-tier accounts. Saxo's fee structure is also highlighted by commission-free forex trading, although a ticket-fee of $3 per side applies to those trading fewer than 50,000 units monthly. Praised for its pricing, Saxo achieves a 5-star rating for commissions and fees, ranking #9 out of 63 brokers according to ForexBrokers.com.
Comparatively, Eightcap offers two distinct account types to cater to traders' needs: the commission-based Raw account and the spread-only Standard account. Their Raw account advertises an impressive average spread of 0.06 pips, but when including the $3.50 per-side commission, the total cost rises to approximately 0.76 pips—slightly below the industry average of 0.8 pips. While Eightcap presents competitive pricing, it is slightly more expensive than the most budget-friendly forex brokers in the market. Eightcap's approach earns them a respectable 4-star rating for commissions and fees, landing them the #26 spot in the ForexBrokers.com rankings.
In summary, both Saxo and Eightcap provide robust options tailored to different trading behaviors and preferences, whether you are looking at spread costs or commission structures. For traders who prioritize elite services and exceptional pricing strategies, Saxo offers an advantageous edge, especially for those able to meet the requirements for their Platinum or VIP accounts. On the other hand, Eightcap caters to those seeking competitive spreads with transparent commission models. Each broker offers its own strengths, allowing traders to choose based on specific financial and trading needs.
| Feature |
Saxo
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.1 | 1.0 |
| All-in Cost EUR/USD - Active | 0.9 | 0.76 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Saxo and Eightcap in terms of investment range, Saxo clearly offers a wider variety of choices. Saxo provides access to a staggering 70,000 tradeable symbols, including 190 forex pairs, and allows for trading exchange-listed securities on both U.S. and international markets. In contrast, Eightcap offers 800 tradeable symbols with 56 forex pairs and does not support the purchasing of exchange-traded securities on either U.S. or international exchanges. Both brokers support forex trading as CFDs or spot contracts and offer the ability to trade cryptocurrency derivatives, though neither allows buying actual cryptocurrencies.
Additionally, for investors interested in social trading, both Saxo and Eightcap offer copy trading features. However, Saxo's extensive range of investments has earned it a higher rating of 5 stars compared to Eightcap's 3.5 stars. According to ForexBrokers.com, these offerings place Saxo at the number 3 spot for the Range of Investments out of 63 brokers, whereas Eightcap is ranked at number 40. These differences highlight Saxo's broader appeal for traders looking for diverse investment products and market access.
| Feature |
Saxo
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 800 |
| Forex Pairs (Total) | 190 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | 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 choosing between Saxo and Eightcap for trading platforms and tools, both brokers offer free virtual demo accounts, which is a plus for beginners looking to practice risk-free. Saxo stands out with its proprietary platform developed in-house, catering to advanced users who might prefer customized features. This is complemented by Saxo's Windows-based desktop and web-based platforms, providing flexibility in how traders manage their accounts. Eightcap, by contrast, does not offer a proprietary platform but supports traders with both Windows desktop and web-based options, enriched by the popular MetaTrader 4 and 5 for a more familiar trading experience.
Saxo and Eightcap both provide copy trading to mirror experienced traders. However, Saxo distinguishes itself with an offering of 20 drawing tools for charting and an impressive 60 columns for watch lists, versus Eightcap’s 15 drawing tools and 7 watch list columns. Both brokers allow trading directly from stock charts, which can enhance trading efficiency. In terms of ranking, Saxo holds the top spot out of 63 brokers on ForexBrokers.com for trading platforms and tools, receiving a full 5-star rating. Eightcap has a respectable 4-star rating, ranking 38th, making both platforms reliable but with Saxo slightly more favored for advanced platform features.
| Feature |
Saxo
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing mobile trading apps, Saxo and Eightcap both provide a comprehensive suite of features for iPhone and Android users, ensuring that traders can access and manage their portfolios on the go. Both platforms support stock and forex price alerts, watchlist syncing, real-time quotes, and the ability to draw and save trendlines on charts. They also allow users to view charts in multiple time frames, offering flexibility for various trading strategies. While both apps have these essential features, Saxo distinguishes itself with a notably higher number of technical studies—64 compared to Eightcap’s 30—enhancing its analytical capabilities.
In terms of user satisfaction, Saxo outshines Eightcap with a perfect 5-star rating for its mobile trading app, reflecting its superior user experience. Eightcap, while still commendable, holds a 4-star rating. Moreover, based on rankings by ForexBrokers.com out of 63 brokers, Saxo secures an impressive 2nd place for its mobile trading app, whereas Eightcap ranks at 38th. This indicates a clear preference from users and industry experts towards Saxo’s mobile trading offering, making it a more attractive choice for those prioritizing advanced features and top-tier user satisfaction.
| Feature |
Saxo
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 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 Saxo and Eightcap for market research offerings, Saxo clearly stands out. Both Saxo and Eightcap provide daily market commentary and maintain economic calendars, which are essential for keeping traders informed about global events. However, Saxo surpasses Eightcap by offering forex news directly sourced from top-tier providers like Bloomberg and Reuters, providing traders with premium and reliable market information. In terms of analysis tools, Saxo enriches its platform with Autochartist's technical analysis features, a service that Eightcap lacks. Both platforms, though, fall short by not incorporating market research from TipRanks or Acuity Trading's advanced tools.
Saxo further reinforces its lead with a sentiment-based trading tool that presents trader positions, a feature also available on Eightcap. Despite this similarity, Saxo’s extensive suite of research tools culminates in a perfect 5-star research rating from ForexBrokers.com, securing the top rank out of 63 brokers. In contrast, Eightcap's narrower range of market research tools results in a 3.5-star rating, placing it at #39 in the same research category. This rank significantly highlights Saxo's dominance in delivering comprehensive and insightful market research to its clients.
| Feature |
Saxo
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | 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 it comes to educational resources for beginners, Saxo and Eightcap both provide a range of materials to help newcomers learn about forex and CFDs. Both brokers offer at least 10 educational pieces that include articles, videos, and archived webinars centered on forex or CFDs. Additionally, each has a searchable archive of previously recorded webinars and at least 10 beginner-focused videos. However, Saxo stands out by hosting online educational webinars monthly, a feature not offered by Eightcap. For those looking for a more structured learning experience, Saxo may be the more appealing choice, given its commitment to monthly webinars.
Furthermore, Saxo outshines Eightcap in catering to traders with some experience by providing over 10 advanced educational videos, while Eightcap does not offer the same depth of resources for advanced traders. Both brokers provide an investor dictionary with definitions of at least 50 investing terms, ensuring that traders have access to key financial definitions. Overall, Saxo boasts a higher education rating of 5 stars compared to Eightcap's 3.5 stars. According to ForexBrokers.com, Saxo takes the 13th spot in the Education category rankings, while Eightcap ranks 40th among 63 brokers. These factors make Saxo a more comprehensive choice for those prioritizing a well-rounded educational platform.
| Feature |
Saxo
|
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 Saxo is better than Eightcap. Saxo finished with an overall rank of #3, while Eightcap finished with an overall rank of #38.
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
|
Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 85 |
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Both Saxo and Eightcap do not offer the ability to buy actual delivered cryptocurrencies, but they do provide options for trading cryptocurrency derivatives.
Both Saxo and Eightcap provide options for depositing and withdrawing funds via Visa, Mastercard, and bank wires; however, Eightcap also supports transactions through PayPal and Skrill, unlike Saxo, which does not offer these payment methods.
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 | Saxo | Eightcap | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Saxo Review | Eightcap Review |
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| Regulation | Saxo | Eightcap | |
|---|---|---|---|
| Trust Score | 99 | 85 | |
| Year Founded | 1992 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | 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) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | 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) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 800 | |
| Forex Pairs (Total) | 190 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | 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 | Saxo | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.76 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Saxo | Eightcap | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | 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 | 64 | 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 | Saxo | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | 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 | Saxo | 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 | Saxo Review | Eightcap Review |
| Overall | Saxo | Eightcap | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Saxo Review | Eightcap Review |
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