Do you want to know which is the better broker between ig and eightcap?
In the following table, you can compare the functions between ig, eightcap, and side by side to determine the most suitable for your trading needs.
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 ig, eightcap, and 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:
Basic Information & Regulators of Eightcap
Eightcap Group was established in 2009 in Melbourne, Australia's traditional financial center. The company's management team consists of elites who have over 20 years of experience in the forex and financial fields in investment banks and are committed to providing traders with a fair, transparent, and trustworthy trading environment. The company currently holds a full license from the Australian Securities and Investments Commission (ASIC) and a retail forex license from the Vanuatu Financial Services Commission (VFSC)...
Eightcap Group is regulated by the Australian Securities and Investments Commission (ASIC), the world's leading regulatory body, and separates client funds from the company's operating funds, which are held in client trust accounts in AA-rated banks around the world.
Market Instruments of Eightcap Forex
Eightcap offers mainstream and popular financial instruments in the global financial markets, including forex (42 currency pairs), indices, precious metals (gold, silver), crude oil. Trading hours for all Forex currency pairs are 24 hours, but to avoid the market's low liquidity of around 00:00 platform time and the resulting high spreads, the market is closed for 5 minutes from 00:00 to 00:05 platform time every day.
Leverage & Account
To meet investors' various investment needs and strategies, the company has set up Standard Commission-Free Accounts and Raw Spread Accounts. The minimum deposit for a standard commission-free account is $200 or its currency equivalent, while the minimum deposit for a raw spread account is $500 or its currency equivalent. Both accounts have a maximum leverage of 1:400.
Spreads & Commission Fees Eightcap Forex Broker
Forex has the most competitive spreads in the market due to its fully transparent and open pricing model. The minimum spreads for standard commission-free accounts start from 1.0 pips and 0.0 pips for raw spread accounts. The minimum spread for indices, precious metals products is 0.5 pips and for crude oil is 1.0 pips. The commission of the raw spread account is US$7 per standard lot. SWAPs are calculated in the early morning hours of each trading day at exactly the same time. The market is closed on Saturday and Sunday, so SWAPs on Wednesdays are three times higher than usual.
Trading Platform Applied
Eightcap uses the popular MT4 trading platform, which has a mobile application for Apple and Android smartphones and tablets, allowing traders to view live charts, place orders, and track trade history using their mobile devices and the desktop version of MT4.
Deposit & Withdrawal
Eightcap offers investors various safe and convenient ways to deposit and withdraw funds, mainly China UnionPay, bank wire transfers, Visa/MasterCard credit cards, Skrill e-wallets, and POLi. The company does not charge any fees for deposit and withdrawal, but the bank may charge users paying from non-Australian banks a fee.
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 ig and eightcap are, we first considered common fees for standard accounts. On ig, the average spread for the EUR/USD currency pair is EURUSD/0.142 pips, while on eightcap the spread is 0.1.
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.
ig is regulated by ASIC,FCA,FSA,NFA,FMA,MAS,DFSA. eightcap is regulated by ASIC,FCA,VFSC,SCB.
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.
ig provides trading platform including DMA account,Standard account and trading variety including Foreign exchange, precious metals, CFD. eightcap provides trading platform including ECN,STP,Standard ,Raw and trading variety including Forex, Precious Metals, Oils, Indices.