Written by ForexBrokers.com
In this head to head comparison of FP Markets 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.
FP Markets, founded in 2005, and Eightcap, established in 2009, are both online brokers known for their financial trading services. Neither company is publicly traded or operates as a bank. FP Markets holds a slightly higher ForexBrokers.com Trust Score of 89, placing it in the "trusted" category. In terms of regulatory licenses, FP Markets holds two Tier-1 licenses, indicative of high trust, and one Tier-2 license, which is also regarded as trustworthy.
Similarly, Eightcap, while having a Trust Score of 85 from ForexBrokers.com, also falls within the trusted range. It secures its standing by holding three Tier-1 licenses, demonstrating a strong foundation in financial security. However, unlike FP Markets, Eightcap does not possess any Tier-2 licenses. Both brokers provide a reasonable level of trust, each with its own regulatory strengths.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Year Founded | 2005 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
FP Markets and Eightcap are two prominent players in the world of online trading, each offering unique advantages for traders in terms of commissions and fees. FP Markets stands out with its competitive pricing on the MetaTrader and cTrader platforms, particularly appealing for those using its ECN account. This account boasts low spreads averaging 0.1 pips, which translates to approximately 0.8 pips after incorporating commissions. Awarded for its excellence, FP Markets garnered a 5-star rating for commissions and fees and holds an impressive #6 rank out of 62 brokers according to ForexBrokers.com. While its Iress ViewPoint accounts cater to active traders with significant balances, alternatives such as the Iress Investor account offer a more cost-effective yet limited platform option.
Conversely, Eightcap offers a straightforward commissions structure across its global operations, including locations in Australia and the Bahamas. The broker features two main account types: the commission-based Raw account and a spread-only standard account. Eightcap's Raw account offers an average spread of 0.06 pips, which, after including a commission fee, results in an overall cost of roughly 0.76 pips—slightly below the industry average. However, despite these competitive figures, Eightcap is generally a bit pricier than the most economical forex brokers, receiving a 4-star rating and being ranked #26 by ForexBrokers.com.
In summary, while FP Markets excels with low-cost offerings and high ratings—particularly beneficial for those considering its Raw ECN accounts—Eightcap remains a strong contender with slightly higher costs. Both brokers provide extensive platforms to meet diverse trading needs, yet the choice between them may hinge on specific requirements like account type preference and trading frequency.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $100 AUD | $100 |
| Average Spread EUR/USD - Standard | 1.2 | 1.0 |
| All-in Cost EUR/USD - Active | 0.7 | 0.76 |
| Active Trader or VIP Discounts | Yes | 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 investment options, FP Markets and Eightcap both offer a variety of choices for traders, but with notable differences. FP Markets stands out with a significantly higher number of tradeable symbols, offering up to 10,000, whereas Eightcap provides 736. This includes the availability of 71 tradeable forex pairs from FP Markets, compared to Eightcap’s 56. Both brokers offer forex trading as CFDs and the opportunity to engage in cryptocurrency derivatives. However, neither broker offers exchange traded securities on U.S. or international exchanges, nor do they allow the purchase of real cryptocurrencies. Both platforms support copy trading, a valuable feature for those interested in mirroring the trades of successful investors.
In terms of recognition, FP Markets earns a commendable 4.5-star rating for its range of investments, while Eightcap receives 3.5 stars. According to ForexBrokers.com, FP Markets achieves an impressive ranking of 18th out of 62 brokers for its range of investments. Meanwhile, Eightcap ranks 40th in the same category. This distinction highlights FP Markets’ broader investment options, providing traders with more flexibility in their trading strategies compared to Eightcap.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 736 |
| Forex Pairs (Total) | 71 | 56 |
| 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.
FP Markets and Eightcap both provide traders with a comprehensive range of tools and platforms that cater to modern trading needs. Both brokers offer simulated trading with free virtual demo accounts, making them ideal for beginners who want to test out strategies without financial risk. While FP Markets distinguishes itself with its proprietary platform, Eightcap relies on third-party tools. Both brokers are equipped with Windows-based desktop and web-based platforms, including popular ones like MetaTrader 4 and 5, and support copy trading, but neither offers DupliTrade or ZuluTrade.
When it comes to charting tools, FP Markets provides 17 drawing tools compared to Eightcap's 15, and both allow for trading directly from stock charts. Watch lists on each platform come with seven customizable fields. While both FP Markets and Eightcap receive a 4-star rating for Trading Platforms and Tools, FP Markets ranks higher in the ForexBrokers.com standings at #23 out of 62 brokers, whereas Eightcap stands at #38, indicating a slightly better overall platform and tool experience with FP Markets.
| Feature |
FP Markets
|
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) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FP Markets and Eightcap both offer mobile trading apps for iPhone and Android users, complete with vital functionality such as stock and forex price alerts. While both brokers provide the capacity to draw trendlines and access multiple time frames on their trading charts, Eightcap offers the added benefit of 30 technical studies for charting, compared to FP Markets' support for MetaTrader's default technical studies. Eightcap also has the advantage of watchlist symbol syncing, ensuring that any changes made to watchlists are updated across devices, a feature not available with FP Markets.
Both brokers allow users to create watchlists with real-time quotes and ensure that chart drawings are auto-saved. When it comes to overall ratings, both FP Markets and Eightcap receive four out of five stars for their mobile trading apps. However, a key differentiator is their rankings in the Mobile Trading Apps category by ForexBrokers.com, where FP Markets is ranked 18th out of 62 brokers, showing a stronger standing compared to Eightcap’s 38th position.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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.
FP Markets and Eightcap both provide daily market commentary and offer tools that display the sentiment of long and short positions across various currency pairs. However, FP Markets stands out in several key areas. It delivers top-tier forex news from prominent sources like Bloomberg and Reuters, which Eightcap does not offer. Additionally, FP Markets clients have access to both Autochartist and Trading Central's technical and fundamental analysis tools, enhancing their trading strategies. In contrast, Eightcap does not provide resources from these respected companies.
While both brokers supply an economic calendar to track global news events, FP Markets receives a higher research rating of 4 out of 5 stars compared to Eightcap’s 3.5 stars. According to ForexBrokers.com, FP Markets ranks at #25 out of 62 brokers in the Research category, positioning it higher than Eightcap, which holds the #39 spot. These rankings reflect FP Markets' comprehensive approach to market research, offering a richer suite of tools and information to its traders.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | 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 comparing the educational resources offered by FP Markets and Eightcap for beginners, FP Markets comes out ahead in several areas. Both brokers provide a wealth of educational content on forex and CFDs, including more than 10 articles, videos, and archived webinars. However, FP Markets distinguishes itself by hosting regular online client webinars each month, which Eightcap does not. Additionally, FP Markets offers a searchable archive of these webinars, just like Eightcap. For visual learners, both brokers provide at least 10 beginner-friendly videos covering essential trading topics, although FP Markets also offers advanced videos for experienced traders, a feature Eightcap lacks. Both brokers include an investor dictionary with over 50 investing terms, ensuring beginners can get up to speed with the necessary jargon.
In terms of rankings and ratings, FP Markets is rated slightly higher with 4 out of 5 stars for education, compared to Eightcap's 3.5-star rating. Moreover, FP Markets ranks higher in ForexBrokers.com's education category, placing 23rd out of 62 brokers, while Eightcap holds the 40th position. Clearly, FP Markets provides a more comprehensive educational experience, making it a favorable choice for beginners who are looking to expand their trading knowledge.
| Feature |
FP Markets
|
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 62 of the best forex brokers, our research and account testing finds that FP Markets is better than Eightcap. FP Markets finished with an overall rank of #19, while Eightcap finished with an overall rank of #38.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
|
Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 85 |
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Both FP Markets and Eightcap do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
FP Markets and Eightcap both offer diverse funding options including PayPal, Skrill, Visa or Mastercard, and bank wires, but neither provides ACH or SEPA transfers for account deposits or withdrawals.
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 | FP Markets | Eightcap | |
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| Trust Score | 89 | 85 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Eightcap Review |
| Broker Screenshots | FP Markets | Eightcap | |
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| Regulation | FP Markets | Eightcap | |
|---|---|---|---|
| Trust Score | 89 | 85 | |
| Year Founded | 2005 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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) | No | 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) | FP Markets | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 736 | |
| Forex Pairs (Total) | 71 | 56 | |
| 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 | FP Markets | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.7 | 0.76 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $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 | FP Markets | Eightcap | |
|---|---|---|---|
| Proprietary Platform | Yes | 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 | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | Eightcap | |
|---|---|---|---|
| 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) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | Eightcap | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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 | FP Markets | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | 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 | FP Markets | 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 | FP Markets Review | Eightcap Review |
| Overall | FP Markets | Eightcap | |
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| Trust Score | 89 | 85 | |
| Winner | check_circle | ||
| Review | FP Markets Review | Eightcap Review |
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