Page Summary
Interactive Brokers and Eightcap are leading brokerage firms. Interactive Brokers has competitive fees and a minimum deposit of $0. It offers a proprietary platform and a premium app with a virtual trading account. Interactive Brokers has licenses from the CFTC, IIROC, FCA, SFC, FSA, MAS, and FINMA. We recommend it for traders of all levels of experience.
Eightcap is a forex and CFD broker with both the MT4 and MT5 platforms. It offers two competitive accounts and more than 250 instruments to trade. Eightcap has top-tier licenses from the ASIC and VFSC. We recommend it for experienced traders, as its research and education tools are limited.
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Interactive Brokers
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
Eightcap
BROKER COMPARISON
Trading Platform & Tools
| Automated Trading | ||
| Charting Tools | ||
| Conditional Orders | ||
| cTrader | ||
| Demo Account | ||
| Desktop Platform | ||
| Max Leverage | 1:20 | 500:1 |
| MetaTrader 4 (MT4) | ||
| MetaTrader 5 (MT5) | ||
| Mobile Version | ||
| Mutual Fund Management | ||
| Proprietary Platform | ||
| Social/Copy Trading | ||
| Trading Alerts | ||
| Trading signals | ||
| Watchlist | ||
| Web Version |
Fees
| Withdrawal Fee | 0 | 0 |
| Deposit Fee | 1% | 0 |
| Inactivity Fee | 0 | 0 |
| Cost Per Trade | 0 | 0 |
| Cost Per Month | 0 | 0 |
| Forex (EUR/USD) | 0.2 pips + 0.08 to 0.20 bps times trade size comission | 0.5 pips |
| Stocks & ETF | $ 0.005 per share | 0.1 pips |
| CFD (Gold) | 0.02% | 0.1 pips |
| Crypto | 0.12% to 0.18% of trade value | 12 pips |
| Options | 0 | |
| Conversion Fees | 0 | 0 |
| Misc. Fees | 0 | 0 |
| Overnight Fees | Yes on CFD’s |
Deposit & Withdrawal
| Minimum deposit (in UAE) | $0 | $100 |
| Bank Wire | ||
| Credit/Debit Card | ||
| Cash | ||
| Check | YES from US bank account | |
| Islamic Account Transfer | ||
| E-payments | ||
| Paypal | ||
| Skrill | ||
| Neteller |
Assets
| Shares | 16.500 | 0 |
| ETF & Funds | 35.000 | 0 |
| Crypto | 4 | 0 |
| Commodities | 1 | 0 |
| Indices | 3052 | 0 |
| Options | 50.000 | 0 |
| Futures | 245 | 0 |
| Bonds | 1.000.000 | 0 |
| Forex Instruments | 115 | 47 |
| CFD Indices & Funds | 13 | 8 |
| CFD Stocks | 8.000 | 660 |
| CFD Commodities | 2 | 7 |
| CFD Crypto | 0 | 331 |
| CFD Bonds | 0 | 0 |
| Binary Options | 0 | 0 |
| SWAPS | 0 | 0 |
| Saving Plans | 0 | 0 |
Research & Education
| Webinars | ||
| Educational Resources | ||
| Daily News Updates | ||
| Market Indepth Analysis | ||
| Pers. Training & Room | ||
| Market Research |
Customer Support
| Phone | ||
| Live Chat | ||
| 24/7 support | ||
| Multilingual | ||
| Personal Account Manager |
Winner
Top findings from the Interactive Brokers vs. Eightcap review:
- Interactive Brokers offers a premium trading experience with professional tools.
- Eightcap offers a versatile portfolio and social trading tools.
- Both brokers offer a virtual trading account to test their offering.
We recommend Interactive Brokers to traders at all levels who want access to premium tools. Eightcap is a good choice for experienced investors, as it has limited educational materials.
Level of experience
Interactive Brokers offers Trading Central, forex news, and a demo account. It has some educational tools, including webinars and investor dictionaries. We recommend it for traders of all levels of experience who want to use premium platforms and resources.
Eightcap offers a demo account to test its platforms. It has limited research tools with access to daily market commentary. Eightcap has limited information data with forex education and forex dictionaries. We recommend it for experienced traders.
Fees
Eightcap has a minimum initial deposit of $100, while Interactive Brokers does not charge an initial fee. Interactive Brokers offers an active trader discount, while Eightcap does not have a discount.
Assets
Interactive Brokers offers 105 forex currency pairs, while Eightcap has 45 available pairs. Interactive Brokers has 7400 CFDs, while Eightcap offers 211 CFDs.
Trading platform
Interactive Brokers offers a smooth trading experience with desktop and web platforms. It has valuable educational materials, including forex education and advanced trading videos. We recommend this broker for traders at all levels.
Eightcap offers access to the full MetaTrader suite. It has professional trading tools, including real-time quotes in Market Watch. Its educational and research tools are limited. We recommend it for experienced traders.
Banking services
Banking services are an essential aspect of online trading. Interactive Brokers has as its funding option bank transfers. Eightcap offers bank transfers, credit/debit cards, and Skrill.
Final verdict
Interactive Brokers and Eightcap are leading brokerage firms. Both have advantages and disadvantages, depending on your trading knowledge and experience. Interactive Brokers is a top choice for traders searching for premium tools. Eightcap is a better fit for professionals because of its limited research and educational tools.
Interactive Brokers compared to other brokers: