Written by ForexBrokers.com
In this head to head comparison of IC 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.
When comparing online brokers, IC Markets and Eightcap, it's important to delve into their regulatory backgrounds, as this can provide insight into their level of trustworthiness. Both IC Markets, established in 2007, and Eightcap, founded in 2009, are not publicly traded companies nor are they banks. When it comes to regulatory licenses, IC Markets holds 2 Tier-1 licenses, indicating a high level of trust according to ForexBrokers.com. Meanwhile, Eightcap holds 3 Tier-1 licenses, suggesting a similar level of credibility.
In terms of trust scores, IC Markets earns an 84 out of 99, placing it in the trusted category, while Eightcap scores slightly higher at 85, also considered trusted. Neither broker holds any Tier-2 licenses, which are deemed trusted but less highly regarded compared to Tier-1. With these scores and regulatory standings, both brokers can be considered reliable options for traders, with Eightcap having a marginal edge in trust score and regulatory licensing.
| Feature |
IC Markets
|
Eightcap
|
|---|---|---|
| Year Founded | 2007 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing IC Markets and Eightcap based on their commissions and fees, IC Markets stands out as a formidable choice for traders seeking low costs. Offering three account types, IC Markets provides options for every kind of trader. The commission-free Standard account, along with the commission-based Raw Spread and cTrader Raw Spread accounts, caters to various preferences. IC Markets' effective spreads are competitive, with the EUR/USD spread averaging 0.62 pips for the cTrader account, factoring in the commission. Traders using the MetaTrader Raw Spread account face slightly higher costs at 0.72 pips. As a testament to its cost-efficiency, IC Markets earned a 5-star rating in this category and ranks fifth among 62 brokers.
Eightcap, on the other hand, offers two main account types: the commission-based Raw account and the Standard account, which operates on a spread-only basis. The Raw account features an average spread of 0.06 pips, but when the per-side commission of $3.50 per trade is included, the all-in cost rises to 0.76 pips. This makes Eightcap slightly more expensive compared to some of the top-tier low-cost forex brokers. Eightcap holds a respectable 4-star rating and is ranked 26th out of 62 brokers in the Commissions and Fees category.
Although both brokers provide competitive pricing, IC Markets may be the preferred choice for traders prioritizing lower costs, while Eightcap offers an excellent alternative with comparatively modest fees.
| Feature |
IC Markets
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $200 | $100 |
| Average Spread EUR/USD - Standard | 0.62 | 1.0 |
| All-in Cost EUR/USD - Active | 0.62 | 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.
IC Markets and Eightcap both provide flexible options for traders interested in forex and derivatives, but they differ in their range of available investments. IC Markets offers a broader selection with 3,583 tradable symbols, including 61 forex pairs. Eightcap, on the other hand, provides 736 tradable symbols and 56 forex pairs. While neither broker offers exchange-traded securities on U.S. exchanges, IC Markets stands out by allowing clients to purchase international securities like those from the London Stock Exchange. Both platforms support trading through CFDs and offer copy trading features, but they do not provide the capability to buy actual cryptocurrencies, focusing instead on derivatives.
For investors seeking a more extensive variety of trading options, IC Markets holds a higher rating of 4.5 stars for its range of investments, placing it at 25th among 62 brokers according to ForexBrokers.com. Eightcap receives a 3.5-star rating and ranks 40th in the same category. When deciding between the two, potential traders should consider whether a larger selection of tradable symbols and access to international exchange-traded securities align with their investment goals.
| Feature |
IC Markets
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 736 |
| Forex Pairs (Total) | 61 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | 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 IC Markets and Eightcap, both brokers offer a wide range of trading platforms and tools that cater to various trader needs. For those interested in trying out trading without the risk, both brokers provide free virtual demo accounts. Neither broker has developed a proprietary platform, however, they both support the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Whether you prefer using a Windows-based desktop or a web-based trading platform, you will find both options available with IC Markets and Eightcap. Additionally, copy trading is also offered by both brokers, but IC Markets stands out by providing access to ZuluTrade, whereas Eightcap does not.
Charting tools are essential for technical analysis, and both IC Markets and Eightcap deliver equally with 15 drawing tools and 7 customizable fields for watch lists. Traders can execute trades directly from stock charts with both brokers, enhancing their trading efficiency. Despite these similarities, IC Markets is rated slightly higher for its trading platforms and tools, boasting a four-star rating and a #16 rank out of 62 brokers on ForexBrokers.com, compared to Eightcap's similar four-star rating but lower #38 rank. Overall, while both brokers provide solid trading platform options, IC Markets is recognized as the more favorable choice based on industry rankings.
| Feature |
IC Markets
|
Eightcap
|
|---|---|---|
| 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 | Yes | 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.
IC Markets and Eightcap both provide mobile trading apps for iPhone and Android users, which is a huge convenience for traders on the go. Both platforms support stock and forex price alerts, technical studies for charting, and the ability to draw trendlines or view multiple time frames on charts. Furthermore, both apps auto-save chart drawings and allow you to create a watchlist with real-time quotes. However, where Eightcap pulls ahead is in offering watchlist symbol syncing; changes made on its mobile app seamlessly update in your online account, providing a cohesive user experience.
When it comes to user ratings, both IC Markets and Eightcap score 4 out of 5 stars for their mobile trading apps. Despite this, IC Markets ranks higher, coming in at number 22 out of 62 brokers according to ForexBrokers.com, while Eightcap holds the number 38 spot. This discrepancy suggests that while both apps are well-received, IC Markets may have a slightly more favorable reception among users in the broader context of a wide range of brokers. Depending on your prioritization of features like watchlist syncing, your choice between these two could vary.
| Feature |
IC 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 | 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 market research offerings, IC Markets and Eightcap both deliver daily market commentary, ensuring traders stay informed. However, IC Markets edges ahead with its access to forex news from prestigious sources like Bloomberg and Reuters, a service not extended by Eightcap. IC Markets further enhances its offerings with tools from Autochartist and Trading Central, providing traders with comprehensive technical analysis options, while Eightcap lacks these resources. Both brokers equally provide sentiment-based trading tools and maintain an economic calendar for tracking global events, crucial for strategic planning.
In terms of overall research quality, IC Markets holds a higher rating of 4 stars compared to Eightcap’s 3.5 stars, reflecting its wider range of tools and information sources. Moreover, in a competitive analysis conducted by ForexBrokers.com, IC Markets ranks higher at #23 out of 62 brokers, while Eightcap stands at #39. This ranking underscores IC Markets' superior capability in equipping traders with meaningful market insights essential for making informed trading decisions.
| Feature |
IC 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 IC Markets to Eightcap for beginner-friendly educational resources, there are distinct differences in their offerings. Both brokers provide more than 10 educational materials such as articles, videos, and archived webinars focused on forex and CFDs, supporting novice traders in expanding their knowledge. However, IC Markets goes a step further by hosting online educational client webinars at least once a month, whereas Eightcap does not provide this feature. Both brokers offer a searchable archive of past client webinars for easy access, and each supplies beginner videos tailored to new traders, though IC Markets also includes advanced educational videos for those with more experience.
Additionally, both IC Markets and Eightcap provide an investor dictionary with definitions of over 50 investing terms, aiding users in understanding trading jargon. Despite these similarities, IC Markets stands out with a higher education rating of 4 stars, compared to Eightcap's 3.5 stars. Moreover, IC Markets holds a stronger position in the Education category, ranking 16th among 62 brokers according to ForexBrokers.com, while Eightcap trails at rank 40. These rankings highlight IC Markets' edge in supporting educational growth for both beginners and seasoned traders.
| Feature |
IC 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 IC Markets is better than Eightcap. IC Markets finished with an overall rank of #20, while Eightcap finished with an overall rank of #38.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 85 |
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Both IC Markets and Eightcap do not offer the option to buy actual delivered cryptocurrency, but they do provide the ability to trade cryptocurrency derivatives.
IC Markets and Eightcap both provide several options for fund deposits and withdrawals, including PayPal, Skrill, Visa/Mastercard, and bank wires, but neither broker 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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2 of 5| Overall Rating | IC Markets | Eightcap | |
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| Trust Score | 84 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Eightcap Review |
| Broker Screenshots | IC Markets | Eightcap | |
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| Regulation | IC Markets | Eightcap | |
|---|---|---|---|
| Trust Score | 84 | 85 | |
| Year Founded | 2007 | 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 | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC 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) | IC Markets | Eightcap | |
|---|---|---|---|
| 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 | IC Markets | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 736 | |
| Forex Pairs (Total) | 61 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | IC Markets | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.76 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $200 | $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 | IC Markets | Eightcap | |
|---|---|---|---|
| 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 | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC 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) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC 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 | 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 | IC 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 | IC 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 | IC 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 | IC Markets Review | Eightcap Review |
| Overall | IC Markets | Eightcap | |
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| Trust Score | 84 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Eightcap Review |
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