Written by ForexBrokers.com
In this head to head comparison of Eightcap vs iFOREX, 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, established in 2009, and iFOREX, founded in 1996, are both notable players in the online brokerage industry. Neither company is publicly traded or operates as a bank. In terms of regulation, Eightcap holds three Tier-1 licenses, regarded as highly reliable, supporting its ForexBrokers.com Trust Score rating of 85, which marks it as trusted. In contrast, iFOREX holds one Tier-1 license, contributing to its Trust Score rating of 75, placing it in the average risk category according to ForexBrokers.com.
This difference in regulatory status is crucial for potential clients considering the security and trustworthiness of an online broker. Although neither broker possesses Tier-2 licenses, Eightcap's additional Tier-1 licenses enhance its trust rating, offering more peace of mind for safety-conscious investors. Meanwhile, iFOREX's single Tier-1 license reflects a moderate level of assurance for those exploring various trading platforms.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| Year Founded | 2009 | 1996 |
| 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 |
When comparing Eightcap and iFOREX in terms of commissions and fees, Eightcap offers more transparency and options. With entities in Australia and the Bahamas, Eightcap provides two account types: the commission-based Raw account and the spread-only Standard account. For the Raw account, traders experience an average spread of 0.06 pips, but with a per-side commission of $3.50 per trade, the total cost approximates 0.76 pips. Though Eightcap's costs are slightly above the lowest in the forex market, they remain under the industry average of 0.8 pips.
In contrast, detailed average spread information is not available for iFOREX, which may make cost expectations less predictable for traders. This lack of transparency might be a consideration when evaluating potential transaction costs with iFOREX. Consequently, while iFOREX aims to provide competitive services, it falls shorter compared to Eightcap when it comes to fee clarity.
In terms of ratings and rankings, Eightcap receives a commendable 4 out of 5 stars for commissions and fees, and it is ranked #26 out of 62 brokers by ForexBrokers.com in this category. Meanwhile, iFOREX scores 3 stars and holds a lower rank at #60 out of 62 brokers, indicating that, in comparison, Eightcap is generally favored by users for its cost structure and transparency.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| 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 | 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.
Eightcap and iFOREX both provide the opportunity to trade forex as CFDs, appealing to those eager to engage in forex markets without owning the currencies outright. Eightcap offers 736 tradeable symbols, which is slightly less than the 750 offered by iFOREX. When it comes to forex pairs, iFOREX takes the lead with 88 available pairs compared to Eightcap's 56. Neither broker allows clients to purchase exchange-traded securities on U.S. or international exchanges, limiting their offerings to CFDs rather than actual shares.
For investors interested in cryptocurrency, both brokers only allow the purchase of cryptocurrency derivatives, bypassing the option to own actual digital currencies. A plus for Eightcap is the availability of copy trading, a feature not offered by iFOREX. Despite their differences, both brokers are rated similarly in the Range of Investments category with 3.5 stars each. According to ForexBrokers.com, Eightcap holds a position of 40th out of 62 brokers, while iFOREX follows closely at 41st, indicating a comparable offering in terms of investment variety.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 736 | 750 |
| Forex Pairs (Total) | 56 | 88 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
Eightcap and iFOREX provide diverse choices for traders seeking reliable platforms and tools, yet each offers distinct advantages. Eightcap is particularly strong in its offerings, including free virtual demo accounts, Windows-based desktop downloads, and support for MetaTrader 4 and 5, aimed at enhancing the trading experience. While iFOREX lacks these features, it compensates with its proprietary trading platform, which offers a unique experience tailored to its users. Both brokers provide web-based platforms, but Eightcap edges ahead with copy trading, a feature absent in iFOREX's lineup.
When it comes to charting tools, iFOREX provides a competitive advantage with more drawing tools than Eightcap. Both allow direct trading from stock charts and feature extensive watchlist columns, offering comprehensive market monitoring. Though both brokers received four-star ratings for their trading platforms and tools, Eightcap holds a higher rank in this category (#38) compared to iFOREX (#54) according to ForexBrokers.com. This suggests that traders looking for a versatile, user-friendly trading experience might lean toward Eightcap, while those seeking a tailored in-house platform might opt for iFOREX.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 57 |
| Charting - Drawing Tools (Total) | 15 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between Eightcap and iFOREX for mobile trading, both offer apps for iPhone and Android users, but Eightcap emerges as the more feature-rich option. Eightcap's app includes invaluable tools such as stock or forex price alerts, watchlist symbol syncing, and trendline drawing on charts. Users benefit from a selection of 30 technical studies and the ability to view multiple time frames like daily, weekly, or intraday. Furthermore, the app saves drawings automatically and supports the creation of watchlists with real-time quotes, making it a comprehensive choice for traders on the go.
In contrast, iFOREX lacks many of these advanced features. It does not provide price alerts, trendline drawing capabilities, or multiple time frame viewing options on its mobile app. Additionally, iFOREX's app does not sync watchlists between devices or allow for the creation of watchlists with real-time quotes. Both Eightcap and iFOREX hold a four-star rating for their mobile trading apps; however, Eightcap's app ranks higher at #38 compared to iFOREX's #55 in the Mobile Trading Apps category by ForexBrokers.com, further reflecting its enhanced offering.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
Both Eightcap and iFOREX provide daily market commentary, ensuring traders stay informed with regular updates. While they lack forex news from top-tier sources like Bloomberg or Reuters, both brokers compensate by offering sentiment-based trading tools that display the market sentiment across various instruments. iFOREX holds an edge in research tool offerings with access to Trading Central for technical analysis, unlike Eightcap, which does not offer any tools from companies like Autochartist or Trading Central. Both brokers also include an economic calendar to keep traders updated on global news events, making market-moving information readily accessible.
In terms of research rankings, Eightcap sits at 39th out of 62 brokers, while iFOREX is positioned at 48th, according to ForexBrokers.com. Both brokers receive a modest rating of 3.5 stars for their research offerings, highlighting room for improvement in their provision of market research tools. Although neither offers insights from companies such as TipRanks or Acuity Trading, iFOREX's advantage in technical analysis resources thanks to Trading Central might appeal to traders looking for more structured analytical support.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | No |
| Autochartist | No | No |
| 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 educational resources for beginners, Eightcap and iFOREX offer distinct experiences. Eightcap shines with a variety of educational materials, offering over ten pieces centered on forex and CFDs. It includes a searchable archive of past webinars and a comprehensive investor dictionary with many investing terms. Beginners will also find more than ten introductory videos focused on fundamental trading concepts. In contrast, iFOREX falls short in the breadth of educational materials available, lacking an extensive collection focused on forex and CFDs or a useful investor dictionary, though it matches Eightcap in offering beginner trading videos.
Neither Eightcap nor iFOREX provides monthly client webinars or advanced video tutorials for more seasoned traders. Despite some limitations, both platforms have received an education rating of 3.5 out of 5 stars. However, Eightcap provides a slightly richer learning experience overall, reflected in its higher educational ranking by ForexBrokers.com at #40, compared to iFOREX’s position at #53. For beginners eager to dive into the world of forex and CFDs, Eightcap offers a more comprehensive array of tools to get started.
| Feature |
Eightcap
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
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 iFOREX. Eightcap finished with an overall rank of #38, while iFOREX finished with an overall rank of #52.
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
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iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 85 | 75 |
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Both Eightcap and iFOREX provide users with the capability to invest in cryptocurrency derivatives, but neither platform allows for the purchase of actual, delivered cryptocurrencies.
Both Eightcap and iFOREX provide a variety of options for depositing and withdrawing account funds, including PayPal, Skrill, Visa or Mastercard, and bank wires, but 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 | iFOREX | |
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| Trust Score | 85 | 75 | |
| Winner | check_circle | ||
| Review | Eightcap Review |
| Broker Screenshots | Eightcap | iFOREX | |
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| Regulation | Eightcap | iFOREX | |
|---|---|---|---|
| Trust Score | 85 | 75 | |
| Year Founded | 2009 | 1996 | |
| 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 | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 736 | 750 | |
| Forex Pairs (Total) | 56 | 88 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | iFOREX | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Eightcap | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $100 | $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 | Eightcap | iFOREX | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Eightcap | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | 57 | |
| Charting - Drawing Tools (Total) | 15 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Eightcap | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Eightcap | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Eightcap | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Eightcap | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
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| Trust Score | 85 | 75 | |
| Winner | check_circle | ||
| Review | Eightcap Review |
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