Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers, established in 1977, is a leading online broker known for its high level of trustworthiness. It holds a top-tier Trust Score of 99 out of 99 from ForexBrokers.com, indicating it is highly trusted. Additionally, the broker is publicly traded and has a solid regulatory standing with 9 Tier-1 licenses and 2 Tier-2 licenses. This comprehensive regulatory framework helps reassure users of their safety in using Interactive Brokers’ services.
On the other hand, Eightcap, founded in 2009, has built its presence over the years. It boasts a respectable Trust Score of 85 out of 99, categorizing it as a trusted choice according to ForexBrokers.com. Although not publicly traded, Eightcap is still a reliable player, safeguarding clients’ interests with 3 Tier-1 licenses. While it lacks Tier-2 licenses, Eightcap continues to maintain a strong position under its current licenses.
| Feature |
Interactive Brokers
|
Eightcap
|
|---|---|---|
| Year Founded | 1977 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 3 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Interactive Brokers stands out with its highly competitive pricing model, although detailed comparisons are challenging due to the absence of published average forex spreads. During the third quarter of 2024, the EUR/USD spread at Interactive Brokers was approximately 0.19 pips, resulting in an effective spread of 0.59 pips after accounting for commissions. Forex trade commissions start at 0.00002 of the U.S. dollar trade value per side, with a minimum of $2 per order. This can further decrease for highly active traders, making Interactive Brokers an appealing choice for those with high trading volumes. The firm aggregates prices from 17 major forex dealers globally, applying a commission per trade rather than marking up spreads. Active traders can benefit from reduced fees when surpassing specific monthly trading volumes. With these features, Interactive Brokers earns a 5-star rating and is ranked #2 among 62 brokers for commissions and fees by ForexBrokers.com.
Eightcap provides two account options: the commission-based Raw account and the spread-only Standard account. The Raw account boasts an average spread of 0.06 pips, but when adding the $3.50 per side commission, the total cost averages around 0.76 pips, which sits just below the industry average of 0.8 pips. This makes Eightcap's total pricing slightly higher than the most cost-effective forex brokers available. Despite this, Eightcap remains a competent choice for traders who prefer a straightforward fee structure.
In comparison, while Eightcap maintains a respectable 4-star rating for its commissions and fees, it ranks lower at #26 out of 62 brokers, according to ForexBrokers.com. Traders seeking lower fees might prefer Interactive Brokers, particularly those with high trading volumes that qualify for additional discounts. However, Eightcap's straightforward pricing and account options may appeal to those valuing simplicity and preferring a commission-based account structure.
| Feature |
Interactive Brokers
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 0.59 | 1.0 |
| All-in Cost EUR/USD - Active | 0.59 | 0.76 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and Eightcap both offer a platform for trading forex as a CFD or spot contract. However, Interactive Brokers distinguishes itself with a broader selection of 8,500 tradeable symbols compared to Eightcap's 736. When it comes to forex pairs, Interactive Brokers also has an upper hand with 90 available pairs, surpassing Eightcap's offering of 56 pairs. For those interested in directly purchasing U.S. or international exchange-traded securities, Interactive Brokers allows you to buy real shares like Apple or Vodafone, whereas Eightcap does not provide this option.
Cryptocurrency enthusiasts will find that Interactive Brokers offers both actual cryptocurrencies and their derivatives, while Eightcap only provides access to cryptocurrency derivatives. On the other hand, Eightcap offers copy trading, a feature that Interactive Brokers does not have. These factors contribute to the notable difference in their ratings for Range of Investments, with Interactive Brokers earning 5 stars and ranking #1 among 62 brokers on ForexBrokers.com, whereas Eightcap receives a 3.5-star rating and ranks at #40.
| Feature |
Interactive Brokers
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 736 |
| Forex Pairs (Total) | 90 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | 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.
Interactive Brokers and Eightcap both offer simulated trading through free virtual demo accounts, making practice and strategy testing accessible for traders. A key difference lies in their platforms: Interactive Brokers has developed its own in-house platform, while Eightcap relies on third-party solutions. Both brokers offer Windows-based desktop and web-based trading platforms, but Eightcap has the advantage of supporting MetaTrader 4 and MetaTrader 5, popular choices among many traders. However, Interactive Brokers stands out with more drawing tools available for charting and significantly more columns for customizing watch lists, allowing for a more tailored and detailed trading experience.
When it comes to features like copy trading, Eightcap takes the lead by offering this service, giving traders the ability to follow expert strategies. Although Interactive Brokers lacks this feature, it compensates with the ability to trade directly from stock charts. Rated 5 stars for their trading platforms and tools, Interactive Brokers is highly regarded and ranks number three out of 62 brokers according to ForexBrokers.com, showcasing their strong position in the market. Eightcap, with a respectable 4-star rating, positions itself well, but ranks significantly lower at number 38, indicating some room for improvement in comparison to its counterpart.
| Feature |
Interactive Brokers
|
Eightcap
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Interactive Brokers and Eightcap both provide mobile trading apps for iPhone and Android users, offering essential features like price alerts and watchlist symbol syncing to ensure a seamless trading experience across devices. While both platforms allow stock and forex chart trendlines and multiple time frames viewing, Interactive Brokers stands out with 97 technical studies available for charting, compared to Eightcap's 30. Despite this impressive offering, Interactive Brokers does not auto-save chart drawings, whereas Eightcap does, adding convenience for traders looking to maintain their chart annotations.
Both brokers allow creating watchlists with real-time quotes, enhancing the ability of traders to manage their portfolios on-the-go. In terms of user satisfaction, Interactive Brokers receives a perfect 5-star rating for its mobile trading apps, surpassing Eightcap's 4-star rating. Furthermore, Interactive Brokers ranks 4th out of 62 brokers in ForexBrokers.com's Mobile Trading Apps category, whereas Eightcap comes in at 38th, reflecting a notable difference in overall app performance and user approval.
| Feature |
Interactive Brokers
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 97 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research capabilities, Interactive Brokers stands out with its comprehensive offerings. The platform provides daily market commentary and keeps traders informed with forex news from top-tier sources like Bloomberg and Reuters. Additionally, Interactive Brokers enhances decision-making with advanced tools from Trading Central and offers sentiment-based trading options, showing the ratio of long and short positions. Users also benefit from research provided by TipRanks and Acuity Trading. Interactive Brokers includes an economic calendar to keep investors updated on global events, earning it high praise with a 5-star research rating and a #3 rank out of 62 brokers according to ForexBrokers.com.
In comparison, Eightcap also offers daily market commentary and sentiment-based trading tools; however, it falls short in several research areas. This platform does not provide forex news from high-profile sources like Bloomberg or Reuters and lacks tools from Trading Central and research from TipRanks and Acuity Trading. While they do offer an economic calendar, their limited research offerings have positioned them with a 3.5-star research rating and a #39 rank out of 62 brokers in the ForexBrokers.com research category. Overall, traders seeking extensive market insights may find Interactive Brokers to be a more favorable option.
| Feature |
Interactive Brokers
|
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) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, Interactive Brokers and Eightcap offer distinct experiences. Both platforms provide a solid foundation with at least 10 educational pieces focused on forex or CFDs through a mix of articles, videos, and archived webinars. Additionally, both Interactive Brokers and Eightcap boast searchable archives of previously recorded webinars. Where they begin to diverge is in the realm of online educational webinars, with Interactive Brokers hosting monthly sessions, a feature Eightcap lacks. This regular content can be valuable for learners eager to continuously update their knowledge.
Interactive Brokers excels further in offering a wide range of educational materials that also cater to advanced traders, providing over 10 advanced trading videos, unlike Eightcap. Both brokers include a substantial investor dictionary, defining more than 50 investing terms, which is a helpful resource for building one's trading language proficiency. Across educational offerings, Interactive Brokers carries a higher rating at 5 stars, compared to Eightcap's 3.5 stars, and it ranks significantly higher in ForexBrokers.com's Education category. This positioning underscores Interactive Brokers' commitment to being a resourceful ally for traders at all levels.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than Eightcap. Interactive Brokers finished with an overall rank of #2, while Eightcap finished with an overall rank of #38.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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Eightcap
|
|---|---|---|
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| Trust Score | 99 | 85 |
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Interactive Brokers allows clients to buy both actual delivered cryptocurrency and cryptocurrency derivatives, while Eightcap only offers the ability to trade cryptocurrency derivatives, not the actual cryptocurrency.
Interactive Brokers supports ACH, SEPA, and bank wire transfers for depositing or withdrawing funds, while Eightcap facilitates transactions using PayPal, Skrill, Visa, Mastercard, and bank wires, highlighting the distinct payment options offered by each broker.
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 | Interactive Brokers | Eightcap | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Eightcap Review |
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| Regulation | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Trust Score | 99 | 85 | |
| Year Founded | 1977 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 3 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 736 | |
| Forex Pairs (Total) | 90 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.59 | 0.76 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 97 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review | Eightcap Review |
| Overall | Interactive Brokers | Eightcap | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Eightcap Review |
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