Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
FXCM, established in 1999, is a prominent player in the online brokerage space, publicly traded and holding four Tier-1 licenses. It boasts a high ForexBrokers.com Trust Score of 95 out of 99, reflecting its reputation for reliability in the eyes of clients and industry experts. With two additional Tier-2 licenses, FXCM provides a secure trading environment, making it a favored choice for those seeking peace of mind in financial transactions.
Founded in 2009, Eightcap is a private online broker that holds three Tier-1 licenses, contributing to its solid trust rating of 85 on ForexBrokers.com. While not publicly traded, Eightcap has established itself as a trusted option, albeit without any Tier-2 licenses. Its Trust Score rating aligns it as a dependable choice, providing assurance for traders looking for a broker with satisfactory regulatory backing.
| Feature |
FXCM
|
Eightcap
|
|---|---|---|
| Year Founded | 1999 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 3 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
FXCM and Eightcap both offer competitive forex trading options, yet their commissions and fees structure differs slightly. FXCM’s pricing is slightly higher than the industry average. Their standard account spreads, using May 2024 data, averaged 0.78 pips for EUR/USD in the EU, U.K., and Australia, while their St. Vincent and the Grenadines branch averaged 1.38 pips. For commission-based accounts, the average spread was 0.28 pips, excluding commissions. Active traders at FXCM can benefit from their Rebate Program, which provides discounts depending on trading volume and account location, though this program is not available in the U.K. or EU. Overall, FXCM is rated 4 out of 5 stars for commissions and fees and is ranked #24 out of 62 brokers by ForexBrokers.com.
Eightcap offers a simpler fee structure with two types of accounts: a commission-based Raw account and a spread-only Standard account. The Raw account features an average spread of 0.06 pips, but when including the $3.50 per-side commission, the all-in cost is about 0.76 pips, slightly below the industry average of 0.8 pips. While their pricing is competitive, Eightcap is noted to be slightly more expensive compared to the lowest-cost brokers. Despite this, Eightcap is still rated 4 out of 5 stars for commissions and fees and holds the #26 spot out of 62 brokers on ForexBrokers.com.
In comparison, both FXCM and Eightcap present a reasonable forex trading cost framework, with potential discounts for active traders. FXCM provides various tiers for rebates, which can offer significant savings depending on trading volume, albeit with certain geographical restrictions. Eightcap, on the other hand, keeps it straightforward with their Raw and Standard accounts while maintaining just under the average cost per trade. Both brokers have received similar ratings, making them viable choices for traders considering commission and fee structures.
| Feature |
FXCM
|
Eightcap
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $100 |
| Average Spread EUR/USD - Standard | 0.78 | 1.0 |
| All-in Cost EUR/USD - Active | 0.78 | 0.76 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | 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 comparing the range of investments offered by FXCM and Eightcap, both brokers provide forex trading as either a CFD or a spot contract, catering to traders looking to engage in currency markets. Eightcap edges out FXCM slightly with 736 tradeable symbols compared to FXCM's 440. In terms of forex pairs, Eightcap again offers more diversity with 56 pairs, while FXCM provides 43. Neither platform allows clients to purchase exchange-traded securities directly on U.S. or international exchanges, meaning investors cannot buy individual shares such as Apple or Vodafone through these brokers.
Both brokers support copy trading and enable clients to engage in cryptocurrency trading through derivatives, rather than facilitating the purchase of actual cryptocurrencies. Each is rated 3.5 stars for their range of investment offerings. However, when it comes to rankings by ForexBrokers.com, Eightcap is placed at #40 out of 62, slightly ahead of FXCM, which comes in at #47. This suggests that while both brokers offer a substantial selection, Eightcap may have a slight advantage in terms of breadth and variety.
| Feature |
FXCM
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 736 |
| Forex Pairs (Total) | 43 | 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.
FXCM and Eightcap both provide traders with solid options for simulated or paper trading via free virtual demo accounts, making it easy for newcomers to practice without risk. Where the two diverge is in FXCM's proprietary trading platform, developed in-house, providing a unique user experience catered specifically to their clientele, in contrast to Eightcap, which does not offer a proprietary platform. Both brokers support trading on MetaTrader 4, a popular platform among traders, although only Eightcap extends their offerings to MetaTrader 5. Additionally, FXCM users can engage in copy trading via ZuluTrade, whereas Eightcap doesn't offer this option. For those who prefer a Windows-based or web-based trading environment, both brokers have you covered.
In terms of charting tools, Eightcap outshines FXCM with 15 drawing tools compared to FXCM's 10. However, FXCM compensates with more feature-rich watch lists, giving users 13 columns to organize information compared to Eightcap's 7. Both platforms allow trading directly from stock charts. User ratings further highlight these differences, with FXCM scoring a perfect 5 stars for its trading platforms and tools, and securing the 6th spot among brokers on ForexBrokers.com. Eightcap, while still highly credible at 4 stars, falls to the 38th ranking by the same source, reflecting some gaps in their overall platform offering compared to FXCM.
| Feature |
FXCM
|
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) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FXCM and Eightcap, both platforms provide services for iPhone and Android users, including the ability to set stock or forex price alerts and sync watchlists across devices. This ensures that any changes made on one platform are reflected on the other. For users interested in technical analysis, FXCM offers a more comprehensive suite with 59 technical studies, while Eightcap provides 30 studies. Each app supports the drawing of trendlines and accessing multiple time frames, such as daily, weekly, or intraday, enhancing the flexibility and depth of chart analysis. Additionally, both apps automatically save chart drawings and allow users to create watchlists with real-time quotes, which keeps trades organized and up-to-date.
FXCM and Eightcap both aim to deliver quality mobile trading experiences, but FXCM slightly edges out with a higher user rating of 4.5 stars compared to Eightcap's 4 stars. FXCM is also ranked higher by ForexBrokers.com, taking the 16th spot out of 62 brokers, whereas Eightcap holds the 38th position. This indicates that while both brokers provide similar features, FXCM tends to be preferred slightly more by users for its range of tools and overall performance in the mobile trading app category.
| Feature |
FXCM
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 59 | 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 FXCM and Eightcap in terms of market research offerings, both brokers provide daily market commentary to keep traders informed about the latest market trends. However, FXCM stands out by supplying forex news from reputable sources like Bloomberg, Reuters, and Dow Jones, whereas Eightcap does not offer such top-tier news coverage. While neither broker features Autochartist tools, FXCM offers Trading Central's technical analysis resources, giving it a significant advantage over Eightcap, which lacks similar tools. Both platforms use sentiment-based trading tools, but FXCM additionally benefits from TipRanks market research, enhancing its service offering.
Both FXCM and Eightcap supply an economic calendar to inform traders of global economic events, yet FXCM generally earns higher ratings for its research capabilities—4.5 stars compared to Eightcap's 3.5. In rankings, FXCM is positioned at number 11 out of 62 brokers evaluated by ForexBrokers.com, while Eightcap is at number 39. This suggests that FXCM provides a more comprehensive and informative research environment for traders seeking diverse and quality market insights.
| Feature |
FXCM
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FXCM and Eightcap both provide ample educational resources for those stepping into the world of forex and CFDs trading. Each offers more than ten educational pieces, including articles and videos, making them reliable options for beginners seeking foundational knowledge. However, FXCM advances with monthly live webinars that Eightcap does not offer. Both brokers maintain searchable archives of past webinars, ensuring that users can revisit valuable learning sessions.
While FXCM boasts a broader spectrum with more than ten advanced trading videos, Eightcap focuses solely on beginner content in this video category. Each platform offers an investor dictionary with definitions for over 50 terms, aiding new traders in grasping essential jargon. For education, FXCM is rated higher at 4.5 stars compared to Eightcap's 3.5 stars, reflecting in their respective rankings of #14 and #40 on ForexBrokers.com among 62 competitors.
| Feature |
FXCM
|
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 FXCM is better than Eightcap. FXCM finished with an overall rank of #15, while Eightcap finished with an overall rank of #38.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
|
Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 85 |
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Both FXCM and Eightcap do not offer the ability to buy actual delivered cryptocurrency; however, they both provide options to trade cryptocurrency derivatives.
Both FXCM and Eightcap provide a wide range of options for depositing and withdrawing funds, including PayPal, Skrill, Visa, Mastercard, and bank wires, but only FXCM offers ACH or SEPA transfers as a payment method, setting it apart from Eightcap.
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 | FXCM | Eightcap | |
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| Trust Score | 95 | 85 | |
| Winner | check_circle | ||
| Review | FXCM Review | Eightcap Review |
| Broker Screenshots | FXCM | Eightcap | |
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| Regulation | FXCM | Eightcap | |
|---|---|---|---|
| Trust Score | 95 | 85 | |
| Year Founded | 1999 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 3 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | 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) | FXCM | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | 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 | FXCM | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 736 | |
| Forex Pairs (Total) | 43 | 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 | FXCM | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.78 | 0.76 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | Eightcap | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $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 | Yes | No |
| Trading Platforms | FXCM | 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) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | 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 | 59 | 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 | FXCM | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | 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 | FXCM | 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 | FXCM Review | Eightcap Review |
| Overall | FXCM | Eightcap | |
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| Trust Score | 95 | 85 | |
| Winner | check_circle | ||
| Review | FXCM Review | Eightcap Review |
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