Written by ForexBrokers.com
In this head to head comparison of Saxo 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 the online brokerage firms Saxo and Eightcap, several key differences emerge, especially in terms of trust and regulation. Founded in 1992, Saxo is not only a well-established player but also operates as a bank. This firm holds an impressive seven Tier-1 licenses, which are the highest category of regulatory trust according to ForexBrokers.com. Saxo also possesses a Tier-2 license, distinguishing it further in the regulatory landscape. These factors contribute to Saxo's outstanding Trust Score rating of 99 out of 99, reflecting its status as a highly trusted financial institution.
In contrast, Eightcap, founded in 2009, does not operate as a bank but maintains a solid presence in the financial market. While it doesn’t have any Tier-2 licenses, it does hold three Tier-1 licenses. This gives Eightcap a respectable Trust Score of 85 out of 99, showcasing it as a trusted broker, albeit not as high as Saxo on the trust scale. Both companies are privately held and not publicly traded, but their regulatory profiles differ significantly, with Saxo clearly leading in trustworthiness and regulatory credentials.
| Feature |
Saxo
|
Eightcap
|
|---|---|---|
| Year Founded | 1992 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Saxo and Eightcap are two prominent online brokers known for their competitive commissions and fees. Saxo's pricing strategy is particularly appealing to active, high-volume traders or those with large account balances, offering some of the lowest rates in the industry. As of November 2023, Saxo offers average EUR/USD spreads of 1.1, 1.0, and 0.9 pips for their Classic, Platinum, and VIP accounts, respectively, with minimum spreads about 0.2 pips lower than the average in each account tier. Notably, Saxo waives custody fees for traders participating in securities lending, and their accounts require no deposit minimum for Classic, $200,000 for Platinum, and $1,000,000 for VIP. Rated 5 stars for commissions and fees, Saxo is ranked #9 out of 62 brokers by ForexBrokers.com.
In contrast, Eightcap provides two account types: the spread-only Standard account and the commission-based Raw account. The Raw account boasts an average spread of 0.06 pips but includes a per-side commission of $3.50, resulting in an effective cost of approximately 0.76 pips, which is slightly under the industry average of 0.8 pips. While Eightcap may not be the absolute cheapest option, it still offers competitive rates. Eightcap earns a 4-star rating for commissions and fees and ranks #26 among 62 brokers according to ForexBrokers.com.
Overall, both Saxo and Eightcap are commendable options for different trading needs. Saxo shines for its comprehensive pricing and the benefits provided to higher-tier accounts, making it an excellent choice for serious traders. Meanwhile, Eightcap caters to traders interested in either spread-only trading or a fixed commission structure, providing flexibility based on trading preferences.
| Feature |
Saxo
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.1 | 1.0 |
| All-in Cost EUR/USD - Active | 0.9 | 0.76 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Saxo and Eightcap based on their investment offerings, Saxo clearly provides a more extensive range of options. Saxo offers an impressive 70,000 tradeable symbols, including 190 forex pairs, making it a comprehensive choice for investors looking to diversify extensively. Eightcap, on the other hand, presents 736 tradeable symbols and 56 forex pairs, which, while respectable, is considerably less expansive. Moreover, Saxo allows direct investment in exchange-traded securities across U.S. and international exchanges, enabling clients to purchase shares like Apple and Vodafone directly. Eightcap does not offer this same access, focusing solely on CFDs for such assets.
Both Saxo and Eightcap provide opportunities for forex trading in the form of CFDs or spot contracts and support copy trading for those interested in mimicking seasoned traders' strategies. They also allow trading in cryptocurrency derivatives but do not enable the purchase of actual cryptocurrencies. According to ForexBrokers.com, Saxo ranks highly at #3 out of 62 brokers for its range of investments, earning a 5-star rating. Conversely, Eightcap holds a ranking of #40 with a 3.5-star rating, indicating a narrower selection of investment options. Overall, Saxo is better suited for investors seeking vast and varied trading possibilities.
| Feature |
Saxo
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 736 |
| Forex Pairs (Total) | 190 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | 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 trading platforms and tools, Saxo emerges as a leader with its in-house developed proprietary platform, compared to Eightcap, which utilizes third-party options like MetaTrader 4 and 5. Both brokers offer simulated trading with free demo accounts, catering to those looking to practice before investing real money. Additionally, both Saxo and Eightcap provide downloadable desktop platforms for Windows users and web-based platforms that can be accessed from any browser. Saxo users have access to a rich suite of 20 drawing tools for charting, alongside the ability to trade directly from stock charts—a feature also offered by Eightcap. However, Saxo shines in providing an extensive 60-column watch list functionality, far surpassing Eightcap's 7 columns.
Saxo has earned a top rating of 5 stars for its trading platforms and tools, grabbing the #1 spot in ForexBrokers.com's rankings. Eightcap, while still impressive, receives a 4-star rating and is positioned at #38. Both brokers support copy trading capabilities, but neither features DupliTrade or ZuluTrade integrations. Saxo's comprehensive approach to trading tools clearly sets it apart, offering a more tailored experience when compared to Eightcap's offerings.
| Feature |
Saxo
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When deciding between Saxo and Eightcap for mobile trading, both apps cater to iPhone and Android users, providing crucial features like stock and forex price alerts. Each platform ensures watchlist symbol syncing, allowing your mobile app watchlists to seamlessly sync with your online account. Saxo and Eightcap both excel in features like drawing trendlines and accessing multiple time frames on charts, as well as auto-saving drawings. Users have the flexibility to create watchlists with real-time quotes on both apps.
However, when it comes to technical studies, Saxo offers a more extensive selection with 64 options compared to Eightcap’s 30. This enhanced capability perhaps contributes to Saxo’s higher user rating of five stars, whereas Eightcap is rated with four stars. In the broader landscape, Saxo ranks impressively at #2 in the Mobile Trading Apps category according to ForexBrokers.com, while Eightcap is positioned at #38 out of 62 brokers, highlighting a notable difference in their standings. Both apps offer comprehensive trading tools, but Saxo might appeal more to those seeking a richer analytical framework.
| Feature |
Saxo
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 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 it comes to market research offerings, Saxo and Eightcap both provide daily market commentary to help traders stay informed. However, Saxo takes the lead with forex news sourced from reputable outlets like Bloomberg, Reuters, and Dow Jones—something Eightcap does not offer. In terms of research tools, Saxo features insights from Autochartist, a recognized name in technical and fundamental analysis, whereas Eightcap lacks these advanced resources. Both platforms offer sentiment-based trading tools, allowing traders to gauge the market's long or short positions across various instruments. Economic calendars are also available on both platforms, outlining key global economic events.
Despite some shared features, Saxo clearly outranks Eightcap in terms of research quality and tools. ForexBrokers.com gives Saxo a stellar 5-star rating in their research category, ranking it first among 62 brokers. In contrast, Eightcap receives a 3.5-star rating and is ranked 39th. While both brokers provide foundational research capabilities, Saxo sets itself apart with more comprehensive resources, making it a preferred choice for traders seeking in-depth market insights.
| Feature |
Saxo
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | 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 the educational offerings of Saxo and Eightcap for beginner traders, Saxo clearly stands out as a stronger option. Both brokers provide a comprehensive collection of at least 10 educational resources with a focus on forex and CFDs, including articles, videos, and archived webinars. Saxo goes a step further by hosting monthly webinars specifically designed to enhance client learning, a feature that Eightcap currently does not offer. Both platforms ensure past webinars are accessible through a searchable archive, enhancing their educational utility.
In terms of beginner-friendly content, Saxo and Eightcap offer at least 10 instructional videos each, catering to newcomers in the trading world. However, Saxo extends its support with advanced trading videos, whereas Eightcap lacks in this area. Both brokers supply an investor dictionary with over 50 terms, establishing a strong foundational knowledge base. Overall, Saxo earns higher praise with a 5-star rating for education, ranking 13th among 62 brokers, compared to Eightcap's 3.5-star rating and 40th rank. This demonstrates Saxo’s superior commitment to equipping beginners with essential trading education.
| Feature |
Saxo
|
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 Saxo is better than Eightcap. Saxo finished with an overall rank of #3, while Eightcap finished with an overall rank of #38.
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
|
Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 85 |
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Both Saxo and Eightcap do not offer the ability to buy actual delivered cryptocurrencies, but they do provide options for trading cryptocurrency derivatives.
Both Saxo and Eightcap provide options for depositing and withdrawing funds via Visa, Mastercard, and bank wires; however, Eightcap also supports transactions through PayPal and Skrill, unlike Saxo, which does not offer these payment methods.
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 | Saxo | Eightcap | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Saxo Review | Eightcap Review |
| Broker Screenshots | Saxo | Eightcap | |
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| Regulation | Saxo | Eightcap | |
|---|---|---|---|
| Trust Score | 99 | 85 | |
| Year Founded | 1992 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | 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) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | 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) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 736 | |
| Forex Pairs (Total) | 190 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | 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 | Saxo | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.76 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Saxo | Eightcap | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | 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 | 64 | 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 | Saxo | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | 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 | Saxo | 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 | Saxo Review | Eightcap Review |
| Overall | Saxo | Eightcap | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Saxo Review | Eightcap Review |
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