Written by ForexBrokers.com
In this head to head comparison of Eightcap vs TeleTrade, 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 TeleTrade are both online brokers with a long history in the trading industry. Founded in 2009, Eightcap offers clients the security of three Tier-1 licenses, placing it in the highly trusted category according to ForexBrokers.com. This commitment to regulation and client protection is reflected in its Trust Score of 85, categorizing it as a trusted broker. On the other hand, TeleTrade, which has been operational since 1994, holds one Tier-1 license, earning it a Trust Score of 71, indicating an average risk level. Neither company is publicly traded or operates as a bank, adding a layer of nuance to their roles as trading platforms.
Both brokers are conscious of the regulatory environment, yet Eightcap edges ahead with its higher regulatory endorsements and Trust Score. While neither firm holds Tier-2 licenses, Eightcap's extra Tier-1 licenses position it as a more regulated option compared to TeleTrade. This can be critical for traders prioritizing higher regulatory oversight and trust in their trading platforms. Therefore, based on regulatory points, Eightcap might appeal to those looking for stronger compliance assurances.
| Feature |
Eightcap
|
TeleTrade
|
|---|---|---|
| Year Founded | 2009 | 1994 |
| 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 | 0 |
When comparing online brokers Eightcap and TeleTrade, it is important to consider their commissions and fees, which can significantly impact trading costs. Eightcap offers two account types across its global entities, notably in Australia and the Bahamas. Traders can choose between the commission-based Raw account and the spread-only Standard account. The Raw account lists an average spread of 0.06 pips; however, when factoring in the per-side commission of $3.50 per trade, the total cost is approximately 0.76 pips, making it slightly less than the industry average of 0.8 pips. Despite this, Eightcap is not the cheapest option available compared to the lowest-cost forex brokers.
In contrast, TeleTrade does not provide specific average spread data, which makes it challenging to directly compare its offerings with Eightcap. While both brokers have received a rating of four out of five stars for their commissions and fees, there is a notable difference in their rankings. According to ForexBrokers.com, Eightcap holds the 26th position out of 62 brokers in the Commissions and Fees category, while TeleTrade is ranked 46th. This suggests that Eightcap may offer more competitive trading costs relative to TeleTrade, even though they share the same star rating.
| Feature |
Eightcap
|
TeleTrade
|
|---|---|---|
| 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 | 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 considering Eightcap and TeleTrade for online trading, both brokers stand out for their offerings in forex trading. They each allow trading through contracts for difference (CFDs), providing flexibility for traders interested in foreign currency markets. Eightcap boasts a total of 736 tradeable symbols, giving users a wide array of trading options, while TeleTrade offers 500 symbols. Though TeleTrade surpasses Eightcap in the number of tradeable forex pairs, offering 61 compared to Eightcap's 56, neither broker offers the ability to purchase actual shares or exchange-traded securities from US or international markets, limiting their investment options to derivatives.
Both brokers equally support copy trading, allowing users to follow successful traders and potentially replicate their performance. Furthermore, traders interested in cryptocurrency derivatives can engage with either Eightcap or TeleTrade as both provide these opportunities, though neither supports the purchase of actual cryptocurrencies. With an identical rating of 3.5 stars out of five for the range of investments, Eightcap is slightly ahead in broker rankings by ForexBrokers.com, taking the 40th spot against TeleTrade's 45th out of 62 evaluated brokers. This makes Eightcap a slightly more preferred choice for a broader instrument selection despite TeleTrade's larger offering in forex pairs.
| Feature |
Eightcap
|
TeleTrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 736 | 500 |
| Forex Pairs (Total) | 56 | 61 |
| 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 it comes to trading platforms and tools, both Eightcap and TeleTrade provide some solid options for traders. Each broker offers simulated trading through free virtual demo accounts, which can be a great way for newcomers to practice without financial risk. Neither Eightcap nor TeleTrade has developed a proprietary platform; however, they both support widely used platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), catering to traders familiar with these popular choices. Additionally, both brokers provide Windows-based desktop platforms and web-based trading, as well as copy trading capabilities. While Eightcap doesn't offer ZuluTrade, TeleTrade does include this social trading service in its offerings.
In terms of usability, each broker supplies 15 drawing tools for charting, and allows trading directly from stock charts, which can enhance the trading experience. Both platforms also feature watch lists with seven customizable columns to help traders keep track of their chosen instruments. Despite these similar traits, Eightcap edges slightly ahead in ranking, rated 38th out of 62 brokers by ForexBrokers.com, compared to TeleTrade, which stands at 51st. Each broker receives an identical four-star rating for their trading platforms and tools, indicating a comparable level of service quality.
| Feature |
Eightcap
|
TeleTrade
|
|---|---|---|
| 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 | No | Yes |
| Charting - Indicators / Studies (Total) | 30 | 35 |
| 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.
Eightcap and TeleTrade both deliver good mobile trading platforms, featuring apps for iPhone and Android users. Traders using these platforms enjoy price alerts, watchlist creation with real-time quotes, and the ability to draw trendlines on charts. Both apps support viewing multiple time frames and auto-save chart drawings, providing flexibility and convenience for users who want to track their investments on-the-go.
However, there are some differences between the two. Eightcap excels by offering watchlist symbol syncing, ensuring that watchlists in the mobile app stay consistent with the online account. In contrast, TeleTrade does not have this feature. While TeleTrade offers slightly more technical studies in their app with 35 compared to Eightcap’s 30, it inches ahead in rankings, being rated 25th in the Mobile Trading Apps category by ForexBrokers.com, while Eightcap sits at 38th. Both services share a rating of 4 stars for their mobile apps, indicating a reliable user experience overall.
| Feature |
Eightcap
|
TeleTrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 35 |
| 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 the market research offerings of Eightcap and TeleTrade, both brokers provide daily market commentary and maintain an economic calendar for tracking global news events. However, they diverge in their coverage of forex news from leading sources; TeleTrade offers updates from top-tier outlets like Bloomberg and Reuters, while Eightcap does not. Further differences are seen in the availability of sentiment-based trading tools, with Eightcap providing insights into the ratio of long and short positions across various instruments, a feature absent at TeleTrade.
Neither broker offers analysis tools from companies like Autochartist or Trading Central, and both lack research tools from Acuity Trading and market insights from TipRanks. Despite these similarities and differences, Eightcap and TeleTrade earn an equal research rating of 3.5 stars. However, in rankings by ForexBrokers.com, TeleTrade narrowly edges out Eightcap, securing the 38th spot compared to Eightcap's 39th place among 62 brokers evaluated in the Research category.
| Feature |
Eightcap
|
TeleTrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| 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 TeleTrade in terms of educational resources for beginners, both brokers exhibit strengths and weaknesses. Eightcap provides a comprehensive selection of over 10 educational pieces focusing on forex and CFDs, making it an excellent resource for those starting out. Additionally, Eightcap offers a searchable archive of previously recorded client webinars and a collection of more than 10 educational videos tailored to beginner trading topics, which can significantly help newcomers in building a foundational understanding. They also offer an investor dictionary with definitions for over 50 investing terms, aiding beginners in understanding complex terminology. However, Eightcap does not provide regular live webinars or advanced trading videos for more experienced traders.
On the other hand, TeleTrade appears limited in its educational offerings, with fewer resources dedicated to beginner traders. While neither broker provides monthly live educational webinars or a selection of advanced videos for experienced traders, TeleTrade lacks a searchable archive of webinars, beginner-focused video content, and extensive educational materials centered on forex or CFDs. Both Eightcap and TeleTrade are rated 3.5 stars out of five for education, but Eightcap is notably ranked higher at #40 compared to TeleTrade's #61 out of 62 brokers on ForexBrokers.com. Thus, for beginners seeking a broader range of introductory educational tools, Eightcap may be the more favorable choice.
| Feature |
Eightcap
|
TeleTrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 TeleTrade. Eightcap finished with an overall rank of #38, while TeleTrade finished with an overall rank of #50.
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
|
TeleTrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 85 | 71 |
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Both Eightcap and TeleTrade do not offer the option to buy actual delivered cryptocurrency but provide the ability to trade cryptocurrency derivatives.
When comparing online brokers Eightcap and TeleTrade, both do not support ACH or SEPA transfers, while Eightcap offers more options such as PayPal and Skrill for fund transactions, and both brokers support Visa, Mastercard, and bank wires.
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 | TeleTrade | |
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| Trust Score | 85 | 71 | |
| Winner | check_circle | ||
| Review | Eightcap Review |
| Broker Screenshots | Eightcap | TeleTrade | |
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| Regulation | Eightcap | TeleTrade | |
|---|---|---|---|
| Trust Score | 85 | 71 | |
| Year Founded | 2009 | 1994 | |
| 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 | 0 |
| Tier-1 Licenses (Highly Trusted) | Eightcap | TeleTrade | |
|---|---|---|---|
| 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 | No | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 736 | 500 | |
| Forex Pairs (Total) | 56 | 61 | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Eightcap | TeleTrade | |
|---|---|---|---|
| Minimum Deposit | $100 | $100 | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Eightcap | TeleTrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 35 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Eightcap | TeleTrade | |
|---|---|---|---|
| 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 | 35 | |
| 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 | TeleTrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Eightcap | TeleTrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Eightcap | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
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| Trust Score | 85 | 71 | |
| Winner | check_circle | ||
| Review | Eightcap Review |
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