Home Brokers comparison Interactive Brokers vs. Eightcap

Interactive Brokers vs. Eightcap

72
0
Regal Wallet Banner

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. 

Broker NameInteractive BrokersEightcap
Year Founded19782009
RegulationSEC (USA), FCA (UK)FCA, ASIC
Tradable AssetsStock, ETF, Forex, Fund, Bond, Options, Futures,
CFD, Crypto, Warrants, Structured Products
CFDs, Forex
Min Deposit$0$100
Min Trade$0$0
PlatformsTraders Workstation (TWS)MT4, MT5
DepositYou can open account without deposit$100
WithdrawalsFree of charge for the first withdrawal in calendar month$0

Top findings from the Interactive Brokers vs. Eightcap review:  

  1. Interactive Brokers offers a premium trading experience with professional tools. 
  1. Eightcap offers a versatile portfolio and social trading tools. 
  1. 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. 

Overall Rating

FeatureInteractive BrokersEightcap
Overall4.53.5
Commissions & Fees4.53.5
Offering of Investments53.5
Platforms & Tools4.53.5
Mobile Trading43.5
Research4.53
Education43
Trust Score9473
WinnerYES

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:

Interactive Brokers Review


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

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.

Previous articleInteractive Brokers vs. XTB
Next articleInteractive Brokers vs. Moneta Markets
Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

LEAVE A REPLY

Please enter your comment!
Please enter your name here