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EightCap , FX Choice Broker Comparison

Do you want to know which is the better broker between EightCap and FX Choice ?

In the table below, you can compare the features of EightCap , FX Choice side by side to determine the best fit for your needs.

  • WikiFX rating
  • Basic Information
  • Benchmark
  • Account
  • Relevant information
  • Relevant exposure
  • WikiFX rating
  • Basic Information
  • Benchmark
  • Account
  • Relevant information
  • Relevant exposure
 2 / 3   brokers in total
WikiFX rating
Score
Regulatory Status
WikiBit Guarantee
WikiFX Survey
Risk Evaluation
WikiFX exposure
Basic Information
Established
Regulatory license
MT4
MT5
Cryptocurrency
Deposit and withdrawal method
Benchmark
Transaction environment rating
Transaction Speed
Transaction speed rating
Average transaction speed
The highest transaction speed
The highest speed of opening positions
The highest speed of closing position
Slowest transaction speed
The lowest speed of opening positions
The lowest speed of closing position
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Rollover Cost
Rollover cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time
Account
Accounts
Account name
Products
Funding Requirement
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum position
Cryptocurrency
Lock postition
Scalping
EA trading
EightCap
7.55
Regulated
Under guarantee
10-15 years
ASIC,FCA,VFSC,SCB
UnionPay,USDT,Wire transfer
AA
A
403.7
31
98
31
1957
1957
1937
A

EURUSD: 0.9

XAUUSD: -0.3

28
-1
28
AAA
9.58 USD/Lot
13.27 USD/Lot
A

Long: -10.33

Short: 6.63

Long: -24.2

Short: 17.99

C
0.2
275
Raw,Standard
--
$100
--
From 0.0
50.00
varied
0.01
--
FX Choice
5.76
Offshore Regulatory
Under guarantee
--
2-5 years
FSC
--
A
D
849.3
437
437
--
1922
1922
--
AA

EURUSD: -0.9

XAUUSD: --

8
-2
8
A
20.27 USD/Lot
--
A

Long: -8.21

Short: 2.33

Long: -5.38

Short: 0.16

C
1
69
Classic Account,Pro Account
36 currency pairs; Indices, Metals, Commodities, Energies, Cryptocurrencies
$100
1:200
0.5
15.00
--
0.01
--

EightCap 、 FX Choice BrokersRelevant information

EightCap 、 FX Choice BrokersRelevant exposure

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of eightcap, fx-choice lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

eightcap

Basic Information
Registered Country/Region Australia
Regulation ASIC, SCB
Founding Time 2009
Minimum Deposit US$100
Maximum Leverage 1:30
Minimum Spreads from 0.6 to 1.7 pips
Trading Platform MT4 & MT5
Trading Assets Forex, commodities, cryptocurrency, shares, indices, metals, energies, options, bonds, CFDs, and ETFs
Payment Methods Bank Wire Transfer, Local Bank Credit/Debit Cards, NetellerSkrill, and more.
Customer Support 5 /24 Live Chat, Phone, Emails

General Information

Established in 2009, EightCap is an Australian financial services provider that connects traders around the world with a variety of financial markets, including foreign exchange (Forex), commodities, stock indexes, digital currencies, and shares. Concerning regulation, EightCap has four entities regulated in different jurisdictions:

  • EIGHTCAP PTY LTD, authorized and regulated by Australia Securities & Investment Commission (ASIC) in Australia, with regulatory license no. 391441

  • Eightcap Group Ltd, authorized and regulated by the Financial Conduct Authority (FCA), with regulatory license no. 921296

  • EightCap Global Ltd, authorized and regulated by the Vanuatu Financial Services Commission (VFSC) in Vanuatu, with regulatory license no. 40377

  • Eightcap Global Limited, authorized and regulated by the The Securities Commission of The Bahamas, with regulatory license no. SIA-F220.

Pros & Cons of Eightcap

EighCap is a broker that offers a solid technological foundation for trading, competitive fees, and excellent built-in research tools for its MT4 platform. Several options for withdrawing funds are available, and a large variety of instruments are on hand.

As for the drawbacks, there is a lack of high-quality, introductory learning resources, as well as a lack of constant, accessible support.

Pros Cons
Multiple Regulation Conservative leverage in some areas
Wide range of trading assets No 7/24 customer support
Low minimum deposit requirement
Competitive Trading Conditions
High leverage
MT4 & MT5 supported
Quality educational content

Market Instruments

All major and minor currency pairings, oil, gold, silver, shares, and cryptocurrency CFDs are just some of the thousands of financial instruments available to EightCap clients. The broker now offers CFDs on shares listed on the Australian Securities Exchange (ASX), the New York Stock Exchange (NYSE), the London Stock Exchange (LSE), and the Frankfurt Stock Exchange (FSE).

Account Types

EighCap provides its customers with a straightforward option between two accounts: the Standard Account, where all trading conditions are included in the spread, and the Raw Account, where expert traders can take advantage of spreads as low as 0 pips and no fee.

In addition, traders can employ any method they like, including the employment of expert advisors and other methods, while making advantage of a wide range of lot sizes and a high maximum leverage. All account holders will have access to the same professional trading conditions and corporate support, regardless of the type of account they choose.

account-type

Demo Accounts Aavailable

If you are new to forex trading, EightCap provides a free demo trading account so you can get some practice in without any financial risk. The default duration of the EightCap Demo account is 30 days, although this time frame can be extended by calling customer service.

How to open an account with Eightcap?

1. Clicking the green “Create Account” button in the upper right of the screen is the first step toward registering for a real-money trading account with EightCap.

open-an-account

2. Second, you'll need to fill out a brief registration form with the necessary background facts. A separate password for each account is required.

create-an-account

3. To confirm their application, applicants are sent to their inboxes after submitting their General information on the screen shown below:

open-an-account

4. As part of the application process, the applicant will receive an email containing a “Verify Email Address” button.

open-an-account

5. Following this, the applicant will be led through a three-step process that will result in the creation of their EightCap Live Trading account

open-an-account

Leverage

Leverage is one of Forex's best advantages because it can multiply your profits in a short amount of time. But Eightcap also has unique leverage constraints according to the trading size you run, to help traders in limiting risks, which of course demands you to study carefully how to utilize leverage sensibly. Providing its customers with a leverage of 1:30, Eightcap opens up a wide range of business possibilities.

Spreads & Commissions

Depending on the type of account you open with EightCap, you can expect to pay anywhere from $100 USD / R 1600 ZAR in fees, 0.5 pips - 1.0 pips in spreads, and $3.5 USD in commissions. No transaction fees are applied to deposits or withdrawals made through EightCap.

Trading Platforms

Traders with Eightcap have access to both the older MetaTrader 4 platform and the newer, more feature-rich MT5 platform. Traders also have access to TradingView, a program that lets them use multiple screens simultaneously. Both desktop and mobile apps built on the custom-made platform may access and display live pricing data, account monitoring and access, and live chat and push notification features.

There are many different indicators and trading methods available on MT4, along with all the other tools and resources necessary for effective trading.

Deposit & Withdrawal

EightCap requires a minimum deposit of $100 to open either type of account. Instant deposits can be made using Visa/MasterCard, Skrill/POLi Payment/Neteller/China UnionPay/Bank Wire Transfers, and so on, giving you a wide range of options for moving from demo trading to live trading.Clients of Eightcap's USD accounts can now fund their wallets using Bitcoin and USDT. Your deposits and withdrawals will be processed in the same currency as your base of trading account, which can be any of the following: AUD, USD, GBP, EUR, NZD, CAD, or SGD, depending on your personal preference. Likewise, EightCap does not impose any transaction costs on your end for making deposits or withdrawals, but you should be aware that payments from banks outside of Australia may incur bank fees, which are your obligation to cover.

Customer Support

EightCap's Frequently Asked Questions (FAQ) section is there to help with the basics, but if you need more help, you may reach out to the company via the following methods:

Telephone:+61 3 8375 9700, +61 3 8373 4800

Email:customerservice@eightcap.com

Online Chat

customer-support

Educational Resources

On Eightcap's dedicated education page, you may read up on swing trading and technical analysis, for example. However, there is no formal course structure for this material. The site's education page is currently only available in the English language. In addition, Eightcap provides trading day data on its market analysis page. There are sections for market updates, Forex news, and CFD news on the page. This analysis is provided in both video and written form. The quality of the articles presented here is generally high.

fx-choice

General Information & Regulation

Founded in 2010, The FXChoice brand is part of FX Choice Limited who are authorised and regulated by the International Financial Services Commission of Belize (IFSC), with regulatory license number IFSC/60/191/TS/18. FXChoice offers a series of trading products including currencies, indices, commodities and more through advanced MT4 & MT5 trading platforms.

Market Instruments

FX Choice offers investors access to popular CFD tradable instruments, mainly Forex trading, Cryptocurrency CFDs, Index CFDs, Commodity CFDs, and Equity CFDs.

FX Choice Minimum Deposit

FX Choice offers investors two types of accounts: Classic Accounts and Pro Accounts, with a minimum deposit of $100.

image.png

FX Choice Leverage

In terms of trading leverage, leverage ranges from 1:25 to 1:200 across both account types at FXChoice. These rates are fairly high and are not subject to the 1:30 cap found at most CySEC-regulated brokers. Details of margin requirements can be found in contract specifications and the product guide.

Spreads & Commissions

FX Choice Classic accounts have a minimum spread of 0.5 pips and no commission on forex trading. The minimum spread for the Pro account starts at 0 pips, and the commission for trading is $3.50 per $100,000 per side ($1.50 for high volume traders).

Trading Platform

FX Choice provides traders with desktop, Apple, mobile, and tablet versions of the industry-leading trading platforms MT4 and MT5 to meet a wide range of traders' needs and increase their trading flexibility, and if traders prefer to trade directly through their browser, they can trade on PC and Mac using MT4 and MT5. WebTrader - no download required! For traders with multiple accounts, FX Choice also offers traders a management system for multiple accounts (MAM) on MT4 for easy management and ultimate convenience.

Deposit & Withdrawal

FX Choice offers traders a variety of deposit and withdraw funds, including wire transfer, Skrill, NETELLER, VISA, Maestro, POLi, EPAY, VLOAD, STICPAY, Perfect Money, Fasapay, Paysafe Card. Withdrawals via wire transfer are subject to a 0.25% fee (minimum €150, maximum €1,000), withdrawals via Skrill are subject to a 1% fee, withdrawals via Fasapay are subject to a 0.5% fee per transaction (not less than $0.01), withdrawals via Perfect Money are subject to a 0.5% fee, and withdrawals via VLOAD are subject to a 0.5% fee. Withdrawals via VLOAD are subject to a 3.5% fee.

image.png

Trading Tools

FXChoice have a variety of third-party tools that can be used by clients looking for flexibility and assistance with their trading activities. Some of these tools are automated and will copy signals from other traders. It is imperative that traders understand the risks involved with trading and do not take historical performance as a reference for future results.

VPS

FXChoice offer clients their very own VPS (Virtual Private Server). A VPS is traders own source of stable power and resources that allows you to run your trading platform 24/7.

Customer Support

FXChoice multi-lingual global support is available 24 hours a day 5 days a week via online chat, telephone and email.

Accepted Regions

FXChoice are able to accept clients from most countries on account of offshore regulations, They do not accept clients from Afghanistan, Belize, Iraq, Italy, North Korea, Spain, Sudan, Syrian Arab Republic, Guam, Northern Mariana Islands, Puerto Rico, U.S. Virgin Islands, United States Minor Outlying Islands and American Samoa.

Are the transaction costs and expenses of eightcap, fx-choice lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive eightcap and fx-choice are, we first considered common fees for standard accounts. On eightcap, the average spread for the EUR/USD currency pair is From 0.0 pips, while on fx-choice the spread is 0.5.

Which broker between eightcap, fx-choice is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

eightcap is regulated by ASIC,FCA,VFSC,SCB. fx-choice is regulated by FSC.

Which broker between eightcap, fx-choice provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

eightcap provides trading platform including Raw,Standard and trading variety including --. fx-choice provides trading platform including Classic Account,Pro Account and trading variety including 36 currency pairs; Indices, Metals, Commodities, Energies, Cryptocurrencies.

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