Is Eightcap better than Saxo Bank? After testing 27 of the best forex brokers over five months, Saxo Bank is better than Eightcap. For traders that can afford the USD 10,000 minimum deposit (GBP 500 for the UK), Saxo Bank offers competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and over 40,000 instruments to trade.
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Saxo Bank vs Eightcap 2021
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall Rating
| Feature | Saxo Bank | Eightcap |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 99 | 69 |
| Saxo Bank Review | Eightcap Review | |
| Winner | check_circle | |
| 70% of retail CFD accounts lose money |
Regulation
| Feature | Saxo Bank | Eightcap |
| Trust Score | 99 | 69 |
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Year Founded |
1992 | 2009 |
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Publicly Traded (Listed) |
No | No |
|
Bank |
Yes | No |
|
Tier-1 Licenses |
6 | 1 |
|
Tier-2 Licenses |
1 | 0 |
|
Tier-3 Licenses |
0 | 0 |
|
Authorised in the European Union |
Yes | No |
Tier-1 Licenses (High Trust)
| Feature | Saxo Bank | Eightcap |
|
ASIC Authorised (Australia) |
Yes | Yes |
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IIROC Authorised (Canada) |
No | No |
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SFC Authorised (Hong Kong) |
Yes | No |
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FSA Authorised (Japan) |
Yes | No |
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MAS Authorised (Singapore) |
Yes | No |
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FINMA Authorised (Switzerland) |
Yes | No |
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FCA Authorised (UK) |
Yes | No |
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CFTC Registered (USA) |
No | No |
Investments
| Feature | Saxo Bank | Eightcap |
|
Forex Trading |
Yes | Yes |
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CFDs (Total) |
9000 | 211 |
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Forex Pairs (Total) |
170 | 45 |
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Cryptocurrency (Physical) |
No | No |
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Cryptocurrency (CFD) |
No | Yes |
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Social Trading / Copy-Trading |
Yes | Yes |
Cost
| Feature | Saxo Bank | Eightcap |
|
Average Spread EUR/USD - Standard |
0.8 (August 2020) | N/A |
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All-in Cost EUR/USD - Active |
0.6 (August 2020) | N/A |
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Active Trader or VIP Discounts |
Yes | No |
Funding
| Feature | Saxo Bank | Eightcap |
|
Minimum Initial Deposit |
$10,000.00 | $100 |
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Bank Wire (Deposit/Withdraw) |
Yes | Yes |
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Visa/Mastercard (Credit/Debit) |
Yes | Yes |
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PayPal (Deposit/Withdraw) |
No | No |
|
Skrill (Deposit/Withdraw) |
No | Yes |
Trading Platforms
| Feature | Saxo Bank | Eightcap |
|
Proprietary Platform |
Yes | No |
|
Desktop Platform (Windows) |
Yes | Yes |
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Web Platform |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | Yes |
|
MetaTrader 4 (MT4) |
Yes | Yes |
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MetaTrader 5 (MT5) |
No | Yes |
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cTrader |
No | No |
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DupliTrade |
No | No |
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ZuluTrade |
No | No |
Trading Tools
| Feature | Saxo Bank | Eightcap |
|
Virtual Trading (Demo) |
Yes | Yes |
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Alerts - Basic Fields |
Yes | No |
|
Watchlists - Total Fields |
58 | (Default MT4/MT5) |
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Charting - Indicators / Studies (Total) |
58 | (Default MT4/MT5) |
|
Charting - Drawing Tools (Total) |
19 | (Default MT4/MT5) |
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Charting - Trade From Chart |
Yes | Yes |
|
Charting - Drawings Autosave |
Yes | No |
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Order Type - Trailing Stop |
Yes | No |
Mobile Trading
| Feature | Saxo Bank | Eightcap |
|
Android App |
Yes | Yes |
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Apple iOS App |
Yes | Yes |
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Alerts - Basic Fields |
Yes | No |
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Watch List |
Yes | Yes |
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Watch List Syncing |
Yes | No |
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Charting - Indicators / Studies |
58 | (Default MT4/MT5) |
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Charting - Draw Trendlines |
Yes | No |
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Charting - Trendlines Moveable |
Yes | No |
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Charting - Multiple Time Frames |
Yes | No |
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Charting - Drawings Autosave |
Yes | No |
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Forex Calendar |
Yes | No |
Research
| Feature | Saxo Bank | Eightcap |
|
Daily Market Commentary |
Yes | Yes |
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Forex News (Top-Tier Sources) |
Yes | No |
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Weekly Webinars |
No | No |
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AutoChartist |
Yes | No |
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Trading Central (Recognia) |
No | No |
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Delkos Research |
No | No |
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Social Sentiment - Currency Pairs |
Yes | No |
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Economic Calendar |
Yes | No |
Education
| Feature | Saxo Bank | Eightcap |
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Has Education - Forex |
Yes | Yes |
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Has Education - CFDs |
Yes | No |
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Client Webinars |
Yes | No |
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Client Webinars (Archived) |
Yes | No |
|
Videos - Beginner Trading Videos |
Yes | No |
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Videos - Advanced Trading Videos |
Yes | No |
|
Investor Dictionary (Glossary) |
Yes | Yes |
Major Forex Pairs
| Feature | Saxo Bank | Eightcap |
|
GBP/USD |
Yes | Yes |
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USD/JPY |
Yes | Yes |
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EUR/USD |
Yes | Yes |
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USD/CHF |
Yes | Yes |
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USD/CAD |
Yes | Yes |
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NZD/USD |
Yes | Yes |
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AUD/USD |
Yes | Yes |
Overall
| Feature | Saxo Bank | Eightcap |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 99 | 69 |
| Saxo Bank Review | Eightcap Review |
Comparing forex brokers side by side is no easy task. For our 2021 annual forex broker review, we spent hundreds of hours assessing 27 forex and CFD brokerages to find the best forex broker. Let's compare Eightcap vs Saxo Bank.
Does Eightcap or Saxo Bank offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Saxo Bank offers better pricing overall for traders.
Is Eightcap or Saxo Bank safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. Saxo Bank holds 6 global Tier-1 licenses, while Eightcap holds 1. Saxo Bank holds 1 global Tier-2 licenses, while Eightcap holds 0. All regulators considered, Saxo Bank has a Trust Score of 99.00, while Eightcap's Trust Score is 69.00.
Which trading platform is better: Eightcap or Saxo Bank?
To compare the trading platforms of both Eightcap and Saxo Bank, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo Bank offers a better experience. With research, Saxo Bank offers superior market research. Finally, we found Saxo Bank to provide better mobile trading apps.
What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Eightcap and Saxo Bank both offer copy trading. Both Eightcap and Saxo Bank offer MetaTrader 4 (MT4).
How many forex pairs and CFDs are available to trade?
Saxo Bank provides traders 170 currency pairs (e.g., EUR/USD) compared to Eightcap's 45 available pairs. Forex pairs aside, Saxo Bank offers traders access to 9000 CFDs while Eightcap has 211 available CFDs, a difference of 8,789.
Overall winner: Saxo Bank
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Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
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