Written by ForexBrokers.com
In this head to head comparison of Eightcap vs IronFX, 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 and IronFX are two online brokers that both started operations within a year of each other, with Eightcap established in 2009 and IronFX following in 2010. While neither broker is publicly traded or operates as a bank, they both hold 3 Tier-1 licenses, ensuring they are considered highly trusted authorities in the industry. However, neither holds any Tier-2 licenses.
When it comes to trustworthiness, as rated by ForexBrokers.com, Eightcap scores slightly higher with a Trust Score of 85, classifying it as a trusted broker. IronFX, on the other hand, closely trails with a Trust Score of 83, also falling into the trusted category. Both brokers are therefore positioned favorably for traders seeking reliable online trading platforms.
| Feature |
Eightcap
|
IronFX
|
|---|---|---|
| Year Founded | 2009 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of online brokers Eightcap and IronFX, Eightcap offers two account types that cater to different needs. The commission-based Raw account has an average spread of 0.06 pips, but with a per-side commission of $3.50 added, the total cost averages to about 0.76 pips. This is slightly below the industry average of 0.8 pips. The spread-only Standard account features slightly higher costs but simplifies fee calculations. Eightcap receives a 4-star rating for its commissions and fees, ranking #26 out of 62 brokers according to ForexBrokers.com.
IronFX, on the other hand, exhibits higher costs compared to industry norms. For the Standard variable spread account, the spreads are typically around 1.8 pips but can vary across different account types. The zero fixed-spread account starts with zero spreads but includes an $18 per lot commission, with overnight spreads widening to 3 pips. Similar to Eightcap, IronFX also holds a 4-star rating for commissions and fees, but is ranked lower at #47 out of 62 brokers by ForexBrokers.com, suggesting more room for pricing improvements.
| Feature |
Eightcap
|
IronFX
|
|---|---|---|
| Minimum Deposit | $100 | $50 |
| Average Spread EUR/USD - Standard | 1.0 | 1.2 |
| 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 comparing the investment offerings of Eightcap and IronFX, both platforms provide forex trading as a contract for difference (CFD) or spot contract, catering to forex enthusiasts. Eightcap shines with a broader selection, offering 736 tradeable symbols, whereas IronFX presents a collection featuring 340 symbols. However, when it comes to tradeable forex pairs, IronFX leads with 83 pairs compared to Eightcap's 56, giving forex traders more variety in currency pair choices. Neither broker offers exchange-traded securities on U.S. or international markets, so investors looking for traditional stock trading might need to explore other options.
For cryptocurrency enthusiasts, both Eightcap and IronFX provide access to cryptocurrency derivatives, but neither offers the option to purchase actual cryptocurrencies. Copy trading is available on both platforms, allowing investors to mimic strategies of experienced traders. Despite sharing a 3.5-star rating for their range of investments, Eightcap stands out slightly in industry rankings, placed at 40th, while IronFX is positioned at 51st among 62 brokers. This positions Eightcap as a more versatile choice for investors seeking a wider array of tradeable symbols, though IronFX might appeal to those prioritizing forex variety.
| Feature |
Eightcap
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 736 | 340 |
| Forex Pairs (Total) | 56 | 83 |
| 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.
When comparing trading platforms and tools, Eightcap and IronFX both offer a range of features suitable for traders at all levels. Both brokers provide free virtual demo accounts, Windows-based desktop platforms, and web-based trading options, allowing for seamless trading experiences across devices. They also support copy trading and are equipped with the widely popular MetaTrader 4 platform. While both lack proprietary platforms, Eightcap has a slight edge by supporting MetaTrader 5, which IronFX does not. Each broker offers a suite of 15 drawing tools for charting, provides the functionality to trade directly from stock charts, and includes 7 columns for watch list customization.
Despite their similarities, Eightcap is rated higher than IronFX, with a 4-star rating compared to IronFX's 3.5 stars for trading platforms and tools. Furthermore, in ForexBrokers.com's ranking of 62 brokers, Eightcap is positioned at #38, which is notably higher than IronFX's rank at #60. This distinction highlights Eightcap's more comprehensive trading platform offerings and user-friendly features, making it the preferable choice for traders seeking a slightly more advanced toolkit. However, both brokers provide a solid foundation to facilitate a rewarding trading experience.
| Feature |
Eightcap
|
IronFX
|
|---|---|---|
| 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 | No |
| DupliTrade | No | No |
| ZuluTrade | No | 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.
When comparing the mobile trading apps of online brokers Eightcap and IronFX, both provide support for iPhone and Android devices, making them versatile choices for traders on the go. They also offer stock and forex price alerts, so you can stay updated on market movements. Additionally, each app has capabilities for adding trendlines and viewing multiple time frames on charts, supported by 30 technical studies. These features are essential for traders who rely on technical analysis. Both Eightcap and IronFX also allow users to create a watchlist with live quotes and have auto-save options for any drawings made on charts.
However, a key difference emerges in their watchlist management. Eightcap syncs watchlists across devices, ensuring seamless transitions between the mobile app and desktop platforms, while IronFX lacks this feature. This means changes made to an Eightcap watchlist on any device are updated everywhere you access it. In terms of user ratings, Eightcap edges out with a four-star rating compared to IronFX's 3.5-star rating. Furthermore, Eightcap holds the #38 position among 62 brokers in the Mobile Trading Apps category, as reviewed by ForexBrokers.com, whereas IronFX is placed at #61. This ranking highlights Eightcap's slightly more favorable standing in the realm of mobile trading apps.
| Feature |
Eightcap
|
IronFX
|
|---|---|---|
| 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 | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Eightcap and IronFX both provide daily market commentary and feature economic calendars to keep traders informed of upcoming global events. However, IronFX delivers an edge with forex news sourced from top-tier providers like Bloomberg and Reuters, whereas Eightcap does not. When it comes to technical analysis tools, neither broker offers resources from Autochartist, but IronFX stands out by providing access to Trading Central's analytics. In contrast, Eightcap includes a sentiment-based trading tool to gauge market positioning, a feature IronFX lacks.
In terms of rankings and ratings, IronFX outshines Eightcap with a 4-star research rating compared to Eightcap's 3.5 stars. Furthermore, IronFX is ranked #28 in the research category by ForexBrokers.com, surpassing Eightcap, which comes in at #39. While both brokers have their strengths, IronFX offers a slightly more comprehensive suite of research tools for those focused on analytical insights.
| Feature |
Eightcap
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| 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 IronFX for the educational resources they offer to beginners, both online brokers provide a wealth of materials to help new traders get started in the world of forex and CFDs. They each offer over ten educational pieces such as articles, videos, and archived webinars focusing on these subjects. Both platforms also feature searchable archives of recorded webinars, catering to those who prefer learning at their own pace. Additionally, beginners can find plenty of tutorial videos, with both brokers offering at least ten aimed specifically at newcomers. Also noteworthy, each broker provides an investor dictionary with over 50 investing terms explained, which is a great resource for demystifying industry jargon.
Neither Eightcap nor IronFX hosts regular online educational webinars monthly, or provides a selection of advanced videos aimed at experienced traders. However, when looking at the ratings, IronFX edges out with a 4-star rating for education compared to Eightcap's 3.5 stars. Despite the higher rating, Eightcap ranks slightly higher at #40 compared to IronFX’s #44 out of 62 brokers on ForexBrokers.com’s education ranking. Overall, both brokers deliver substantial educational content for beginners, although IronFX may offer a slight edge in perceived educational quality.
| Feature |
Eightcap
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| 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 IronFX. Eightcap finished with an overall rank of #38, while IronFX finished with an overall rank of #48.
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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IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 85 | 83 |
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Both Eightcap and IronFX do not facilitate the purchase of actual cryptocurrencies but do offer the option to trade cryptocurrency derivatives.
Eightcap and IronFX both support Skrill, Visa, Mastercard, and bank wire transfers for deposits and withdrawals, but only Eightcap provides the option of using PayPal, while neither platform 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 | IronFX | |
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| Trust Score | 85 | 83 | |
| Winner | check_circle | ||
| Review | Eightcap Review |
| Broker Screenshots | Eightcap | IronFX | |
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| Regulation | Eightcap | IronFX | |
|---|---|---|---|
| Trust Score | 85 | 83 | |
| Year Founded | 2009 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 3 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Eightcap | IronFX | |
|---|---|---|---|
| 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) | 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 736 | 340 | |
| Forex Pairs (Total) | 56 | 83 | |
| 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 | Eightcap | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.0 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.76 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Eightcap | IronFX | |
|---|---|---|---|
| Minimum Deposit | $100 | $50 | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Eightcap | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| 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 | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Eightcap | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Eightcap | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Eightcap | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
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| Trust Score | 85 | 83 | |
| Winner | check_circle | ||
| Review | Eightcap Review |
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