Written by ForexBrokers.com
In this head to head comparison of Eightcap vs TopFX, 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, founded in 2009, holds a respectable position within the realm of online brokers. It is not publicly traded and does not operate as a bank, but it distinguishes itself with three Tier-1 licenses, considered highly trusted, according to ForexBrokers.com. These credentials contribute to its Trust Score rating of 85 out of 99, categorizing it as a trusted broker.
In contrast, TopFX, which began operations in 2010, also remains privately held and is not a bank. While it possesses one Tier-1 license, its Trust Score of 67 reflects a higher risk designation compared to Eightcap. With both brokers maintaining non-bank, non-public statuses, discerning investors might find Eightcap's licensing and trust ratings more reassuring.
| Feature |
Eightcap
|
TopFX
|
|---|---|---|
| Year Founded | 2009 | 2010 |
| 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 |
Eightcap and TopFX both provide diverse account options that cater to various trading preferences with competitive commissions and fees. Eightcap offers the Raw and Standard accounts. Choosing the Raw account, which is commission-based, reveals an average spread of 0.06 pips; however, when adding the $3.50 per-side commission, the total cost equates to approximately 0.76 pips. This figure positions Eightcap just below the industry average of 0.8 pips but slightly above the most cost-effective forex brokers.
Meanwhile, TopFX offers its ZERO and RAW accounts, with the RAW account featuring a typical spread of 0.33 pips for EUR/USD in July 2024. When considering the commission fee of 2.75 EUR per side, the cumulative cost is about 0.88 pips, aligning with industry norms. Although the ZERO account has no commission charges, it does have higher average spreads of around 1.03 pips for EUR/USD, suggesting a slightly higher cost structure for spread-only traders.
In terms of ratings, both brokers earn four out of five stars for their commissions and fees. However, Eightcap ranks higher at 26th place amongst 63 brokers according to ForexBrokers.com, compared to TopFX's 40th position, emphasizing Eightcap's marginal advantage in pricing within this competitive landscape.
| Feature |
Eightcap
|
TopFX
|
|---|---|---|
| Minimum Deposit | $100 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.0 | 1.03 |
| All-in Cost EUR/USD - Active | 0.76 | 0.88 |
| 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 it comes to the range of investments, both Eightcap and TopFX provide options for forex trading as CFDs and offer a considerable number of tradeable symbols. Eightcap allows access to 800 symbols, while TopFX offers 655, enabling traders to diversify their portfolios in various markets. In terms of forex pairs, Eightcap provides 56 pairs compared to TopFX's slightly higher offering of 60 pairs. However, neither of these brokers offers direct purchases of exchange-traded securities on either U.S. or international exchanges, such as Apple or Vodafone shares. This feature can be a limitation for those looking to invest directly in stocks.
On the cryptocurrency front, both brokers permit trading in cryptocurrency derivatives but do not support the purchase of the actual digital currencies. Additionally, they both offer copy trading services, making it easier for users to emulate successful trading strategies. Despite these similarities, their ratings for the range of investments stand at 3.5 stars each. However, Eightcap is ranked slightly better than TopFX, occupying the #40 spot out of 63 brokers compared to TopFX's #46, according to ForexBrokers.com. This subtle difference might influence those looking for a wider array of investment options.
| Feature |
Eightcap
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 800 | 655 |
| Forex Pairs (Total) | 56 | 60 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | 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 the trading platforms and tools of Eightcap and TopFX, both brokers offer a range of features aimed at meeting the needs of various traders. Both Eightcap and TopFX provide simulated trading options with free virtual demo accounts, allowing users to practice their skills without financial risk. Neither broker offers a proprietary platform, but each supports the widely-used MetaTrader 4 (MT4), with Eightcap also providing MetaTrader 5 (MT5) for an added level of flexibility. Both brokers cater to Windows users with desktop download platforms and offer web-based platforms for trading directly in your browser. Additionally, they both accommodate those interested in copy trading. While neither broker supports DupliTrade or ZuluTrade, they do allow trading directly from stock charts, offering a seamless experience.
In terms of charting capabilities, both Eightcap and TopFX provide 15 drawing tools and a sophisticated setup for watch lists with 7 configurable columns. Despite these similarities, Eightcap edges slightly ahead with an overall trading platform and tools rating of four out of five stars and a #38 ranking by ForexBrokers.com, compared to TopFX's ranking of #45. Both brokers, however, offer substantial trading environments for users, ensuring essential tools and options are readily accessible, emphasizing functionality and user experience.
| Feature |
Eightcap
|
TopFX
|
|---|---|---|
| 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 | No |
| DupliTrade | No | No |
| ZuluTrade | No | 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 Eightcap and TopFX provide mobile trading apps that are available for iPhone and Android users, ensuring you can trade stocks and forex on the go. Both apps offer stock or forex price alerts and feature 30 technical studies for charting, enabling users to make informed decisions. One notable difference is the synchronization of watchlist symbols; Eightcap allows seamless syncing between mobile and online accounts, while TopFX does not offer this feature. This gives Eightcap users the added convenience of having their watchlists automatically updated regardless of the device they use.
The mobile trading apps from both Eightcap and TopFX allow users to draw trendlines on charts, view multiple timeframes, and save drawings automatically. Users can also create watchlists with real-time quotes in each app. Despite having similar offerings, Eightcap holds an edge with its watchlist syncing capability, which contributes to its higher rank at #38 compared to TopFX at #51 on ForexBrokers.com's list of mobile trading apps. However, both apps receive a solid four-star rating, highlighting their capability in meeting traders' needs.
| Feature |
Eightcap
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| 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 Eightcap and TopFX, both brokers provide unique features that cater to different trader preferences. Eightcap impresses with its daily market commentary, helping investors stay informed on a day-to-day basis. It also offers a sentiment-based trading tool that gives insight into market positions, and an economic calendar that tracks global news events. However, it falls short in delivering forex news from top-tier sources like Bloomberg or Reuters and lacks specialized technical analysis tools from companies like Autochartist and Trading Central. Eightcap's research is rated at 3.5 stars and ranks 39th among 63 brokers according to ForexBrokers.com, highlighting its balanced approach to market insights.
TopFX, on the other hand, stands out by offering forex news sourced from top-tier providers. It also provides advanced technical analysis and fundamental research tools by partnering with renowned companies such as Autochartist and Trading Central. Additionally, TopFX includes a sentiment-based trading tool and an economic calendar similar to Eightcap. Despite these offerings, TopFX does not provide daily market commentary like Eightcap, which might be a crucial feature for some traders. Its research receives a slightly lower rating of 3 stars and is ranked 60th by ForexBrokers.com, suggesting areas for improvement in its research capabilities. Ultimately, choosing between Eightcap and TopFX will depend on whether you prioritize daily commentary or access to top-tier news and sophisticated analysis tools.
| Feature |
Eightcap
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| 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.
When comparing the educational resources offered by Eightcap and TopFX to beginners, Eightcap stands out for its comprehensive offerings. Eightcap provides a minimum of 10 educational pieces that focus on forex and CFDs, which include articles, videos, and an archive of previously recorded webinars that clients can explore. The platform also caters to beginners specifically, with at least 10 educational videos covering basic trading topics. In addition, Eightcap offers an extensive investor dictionary with over 50 investing terms, making it easier for beginners to familiarize themselves with trading jargon. No live webinars are available, but the range of educational content earns Eightcap a respectable rating of 3.5 stars for education and ranks them 40th out of 63 brokers in this category at ForexBrokers.com.
On the other hand, TopFX falls short in comparison. They do not provide the minimum required educational materials focused on forex and CFDs, and they lack both beginner-specific educational videos and a searchable archive of past webinars. Additionally, TopFX does not offer an investor dictionary, which may leave beginners seeking elsewhere for terminology comprehension. While both Eightcap and TopFX do not host live educational webinars monthly, the limited educational resources at TopFX result in a lower rating of 3 stars for education, placing them at 61st out of 63 brokers by ForexBrokers.com. For newcomers eager to learn, Eightcap appears to offer more thorough and accessible educational support than TopFX.
| Feature |
Eightcap
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 TopFX. Eightcap finished with an overall rank of #38, while TopFX finished with an overall rank of #62.
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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TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 85 | 67 |
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Both Eightcap and TopFX do not offer the ability to buy actual delivered cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
Both Eightcap and TopFX offer a variety of deposit and withdrawal options including PayPal, Skrill, Visa/Mastercard, and bank wires, although 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 | TopFX | |
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| Trust Score | 85 | 67 | |
| Winner | check_circle | ||
| Review | Eightcap Review | TopFX Review |
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| Regulation | Eightcap | TopFX | |
|---|---|---|---|
| Trust Score | 85 | 67 | |
| Year Founded | 2009 | 2010 | |
| 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 | TopFX | |
|---|---|---|---|
| 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 | No | |
| 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 | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 800 | 655 | |
| Forex Pairs (Total) | 56 | 60 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | 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 | Eightcap | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.0 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.76 | 0.88 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Eightcap | TopFX | |
|---|---|---|---|
| Minimum Deposit | $100 | Depends on payment method | |
| 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 | TopFX | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Eightcap | TopFX | |
|---|---|---|---|
| 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 | Eightcap | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| 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 | Eightcap | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Eightcap | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Eightcap | TopFX | |
|---|---|---|---|
| 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 | TopFX Review |
| Overall | Eightcap | TopFX | |
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| Trust Score | 85 | 67 | |
| Winner | check_circle | ||
| Review | Eightcap Review | TopFX Review |
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