Written by ForexBrokers.com
In this head to head comparison of Eightcap vs FXOpen, 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 brokers Eightcap and FXOpen, both companies are privately-owned and non-bank entities established in 2009 and 2003 respectively. In terms of regulatory compliance, Eightcap stands out with three Tier-1 licenses, indicating a high level of trust according to ForexBrokers.com standards. FXOpen holds two Tier-1 licenses, suggesting slightly lower trust levels but still within a generally reliable range.
Evaluating their Trust Scores, Eightcap receives a score of 85 out of 99, classifying it as a trusted broker. FXOpen, however, has a Trust Score of 76, placing it in the average risk category. Despite these differences, neither broker holds any Tier-2 licenses, which are considered indicative of a lower, yet still significant, level of regulatory trust.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| Year Founded | 2009 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commissions and fees of Eightcap and FXOpen, both brokers cater to different needs, each offering unique advantages. Eightcap provides two account types - the commission-based Raw account and the spread-only Standard account. For the Raw account, the typical spread is 0.06 pips, but when you include the per-side commission of $3.50 per trade, the total cost comes to about 0.76 pips, which is slightly below the industry average of 0.8 pips. Overall, while Eightcap may not be the cheapest broker available, it offers competitive pricing compared to several other forex brokers.
On the other hand, FXOpen does not offer average spread data publicly, making direct comparisons somewhat challenging. Both brokers have earned a commendable rating of 4 stars out of five in the commissions and fees category, highlighting their competence in providing fair pricing structures to their users. However, based on rankings from ForexBrokers.com, Eightcap stands at number 26 out of 62 in the Commissions and Fees category, suggesting it may offer better value relative to its peers, whereas FXOpen is positioned at number 45.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $100 | $100 |
| Average Spread EUR/USD - Standard | 1.0 | N/A |
| All-in Cost EUR/USD - Active | 0.76 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| 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 opportunities, Eightcap and FXOpen both cater to forex traders, offering trading in forex as CFDs. Eightcap provides access to 736 tradeable symbols with 56 forex pairs, while FXOpen offers a smaller selection, featuring 87 tradeable symbols and 25 forex pairs. However, neither broker offers the ability to trade exchange-traded securities on U.S. or international exchanges, nor do they provide the option to purchase actual cryptocurrencies. Both platforms do allow trading in cryptocurrency derivatives and offer copy trading features for users looking to mirror other successful traders' strategies.
In terms of user ratings and rankings, Eightcap scores 3.5 stars for its range of investments, coming in at #40 out of 62 brokers according to ForexBrokers.com. FXOpen, on the other hand, holds a slightly lower rating of 3 stars, and is ranked #61 in the same category. While both brokers provide essential trading tools and options for forex and cryptocurrency derivatives, Eightcap stands out with a wider array of tradeable symbols and higher customer satisfaction in the investments category.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 736 | 87 |
| Forex Pairs (Total) | 56 | 25 |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When choosing between Eightcap and FXOpen for trading platforms and tools, both platforms offer a range of features that cater to beginner and intermediate traders. Each broker provides simulated trading through a free virtual demo account, making it easy for new users to practice and hone their skills. Neither Eightcap nor FXOpen has developed a proprietary trading platform, but they both offer a Windows-based desktop platform and a web-based platform for ease of access. For those interested in following other traders' strategies, both brokers support copy trading. They also provide access to popular platforms MetaTrader 4 and MetaTrader 5, although neither supports DupliTrade. Importantly, FXOpen stands out with its support for ZuluTrade, which Eightcap lacks.
When it comes to charting, both Eightcap and FXOpen offer 15 drawing tools and the ability to trade directly from a stock chart. Watch lists are equally functional on both platforms with 7 columns of data available. Despite these similarities, Eightcap is slightly more favorably ranked at #38 in the Trading Platforms and Tools category on ForexBrokers.com compared to FXOpen's #53. However, each broker has a solid rating of 4 out of 5 stars for their platforms and tools, reflecting that both are strong options depending on individual trading needs and preferences.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| 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 | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| 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 FXOpen provide intuitive mobile trading apps for iPhone and Android users, making them accessible to a wide audience. Each platform offers essential features like stock and forex price alerts, the ability to draw trendlines, and access to multiple timeframes on charts. Remarkably, both apps also come equipped with 30 technical studies for robust charting capabilities. However, Eightcap sets itself apart by offering watchlist symbol syncing between its mobile app and online account, meaning any changes made on either platform are automatically updated. In contrast, FXOpen does not offer this feature, which could be a consideration for traders who switch frequently between devices.
When it comes to saving your chart annotations automatically, Eightcap provides this convenience, while FXOpen requires manual saving. Both apps allow users to create watchlists with real-time quotes, a boon for active traders. In terms of user satisfaction, both platforms are rated four out of five stars for their mobile trading apps. According to ForexBrokers.com, Eightcap holds a higher ranking at #38 out of 62 brokers, compared to FXOpen at #54, which could influence those seeking a proven mobile trading experience.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| 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 | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Eightcap and FXOpen for market research offerings, both brokers provide daily market commentary and access to an economic calendar that details global news events. However, FXOpen has an advantage by offering forex news from top-tier sources, which Eightcap lacks. On the other hand, Eightcap offers a sentiment-based trading tool that tracks the ratio of long and short positions across various instruments, a feature not available with FXOpen.
Neither broker collaborates with Autochartist, Trading Central, TipRanks, or Acuity Trading for additional technical or fundamental research tools. In ratings, Eightcap scores 3.5 stars out of five for research and holds the #39 ranking out of 62 brokers on ForexBrokers.com. FXOpen trails slightly with a 3-star rating and ranks #62 in the same category. This suggests that while Eightcap has some unique offerings, FXOpen provides higher-tier news sources, making the choice between them dependent on individual trading priorities.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Eightcap and FXOpen in terms of educational resources for beginners, Eightcap stands out with a broader range of offerings. Eightcap provides a substantial collection of at least 10 educational pieces focusing on forex and CFDs, accessible to traders looking to learn more about financial markets. Additionally, Eightcap features a searchable archive of recorded webinars, allowing beginners to catch up on missed sessions and expand their knowledge at their own pace. The broker also caters specifically to newcomers with at least 10 beginner-oriented educational videos, covering essential trading topics to ease the learning curve. Moreover, both Eightcap and FXOpen offer investor dictionaries with definitions of over 50 investing terms, aiding traders in building their financial literacy.
On the other hand, FXOpen's educational resources are comparatively limited, as it does not meet the minimum threshold of 10 educational pieces focused on forex or CFDs. Unlike Eightcap, FXOpen does not provide a searchable archive of client webinars or a series of beginner educational videos dedicated to key trading concepts. The educational offerings of FXOpen earn it a three-star rating, slightly below Eightcap's 3.5-star rating. In ForexBrokers.com's ranks among 62 brokers in the Education category, Eightcap is positioned at #40, while FXOpen is at #58, highlighting Eightcap's stronger educational support for traders. Overall, for beginners seeking comprehensive learning materials, Eightcap presents a more favorable option compared to FXOpen.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| 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 | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Eightcap is better than FXOpen. Eightcap finished with an overall rank of #38, while FXOpen finished with an overall rank of #54.
Eightcap enhances its status as a MetaTrader-only broker with support for a suite of third-party plug-ins and access to Capitalise.ai’s algorithmic trading platform.
| Feature |
Eightcap
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 85 | 76 |
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Both Eightcap and FXOpen do not offer the ability to buy actual delivered cryptocurrencies, but they do provide options for trading cryptocurrency derivatives.
In comparing online brokers, Eightcap and FXOpen both support Skrill, Visa, Mastercard, and bank wire transactions, but only Eightcap offers PayPal as an additional option, whereas neither broker provides ACH or SEPA transfer options.
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 | FXOpen | |
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| Trust Score | 85 | 76 | |
| Winner | check_circle | ||
| Review | Eightcap Review |
| Broker Screenshots | Eightcap | FXOpen | |
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| Regulation | Eightcap | FXOpen | |
|---|---|---|---|
| Trust Score | 85 | 76 | |
| Year Founded | 2009 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | Eightcap | FXOpen | |
|---|---|---|---|
| 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 | 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) | Eightcap | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 736 | 87 | |
| Forex Pairs (Total) | 56 | 25 | |
| 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). |
| Cost | Eightcap | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.0 | N/A | |
| All-in Cost EUR/USD - Active | 0.76 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Eightcap | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $100 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | FXOpen | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Eightcap | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| 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 | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Eightcap | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Eightcap | FXOpen | |
|---|---|---|---|
| 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 | Yes |
| Major Forex Pairs | Eightcap | FXOpen | |
|---|---|---|---|
| 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 |
| Overall | Eightcap | FXOpen | |
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| Trust Score | 85 | 76 | |
| Winner | check_circle | ||
| Review | Eightcap Review |
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