XM Group vs. Eightcap

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XM Group and Eightcap are top online brokers with excellent services. XM Group is a MetaTrader-only broker with straightforward tools and platforms. This broker has top-tier licenses from the ASIC, FCA, CySEC, and IFSC. XM offers leading educational content and market data. We recommend it for beginner investors who want to improve their trading knowledge.

Eightcap is a top online broker with a versatile portfolio and social trading tools. It has top-tier regulations from the ASIC and VFSC. We recommend it for experienced traders, as its research and education tools are limited. 

Broker NameXM GroupEightcap
Year Founded20092009
RegulationASIC, FCA, CySEC, IFSCFCA, ASIC
Tradable AssetsForex, CFDCFDs, Forex
Min Deposit$5-100$100
Min Trade$0$0
PlatformsMT4, MT5MT4, MT5
DepositFree of charge$100
WithdrawalsFree of charge$0

Top findings from the XM Group vs. Eightcap review:  

  1. XM Group offers access to secure platforms and premium educational content. 
  1. Eightcap provides a versatile portfolio and social trading tools. 
  1. Both brokers offer a demo account to test their offering. 

XM Group is a top choice for new traders as it has many research and educational tools. We recommend Eightcap for experienced traders because of its limited educational materials. 

Level of experience  

XM Group offers a beginner-friendly trading experience with access to the full MetaTrader suite. It provides access to a demo account and investor trading support. XM is a good fit for new traders looking forward to accessing valuable trading knowledge. 

Eightcap offers a premium trading experience with complex platforms. It has limited research tools with access to daily market data. Eightcap has limited information on forex education. We recommend it for experienced traders as its platforms are challenging to learn by beginners. 

Fees  

The minimum deposit fee at XM starts at $5, depending on the brokerage account you opt for. Eightcap has a minimum deposit fee of $100. Both brokers have a transparent fee structure. 

Assets  

XM Group offers 57 forex currency pairs, while Eightcap has 45 available pairs. XM has 1372 CFDs, while Eightcap has 76 available CFDs. 

Trading platform  

Beginner investors choose XM Group over Eightcap. XM offers the MT4 and MT5 suites, but it doesn’t have a proprietary platform. These suites are straightforward and easy to customize. This broker provides access to valuable research tools, including charting and trading signals. XM has diverse educational content, which is why we recommend it for beginners. 

Eightcap offers the full MetaTrader suite with professional trading tools. It has real-time quotes in Market Watch and valuable market data. Its educational content is limited. We recommend it for professional traders. 

Banking services  

Banking services are an essential aspect of online trading. Both brokers have as their funding options bank transfers, credit/debit cards, and Skrill. 

Final verdict  

XM Group and Eightcap are top online brokers. Both have strengths and weaknesses depending on your trading skills and knowledge. We recommend XM for beginner investors as it offers valuable learning tools. Eightcap is a better fit for professionals because of its limited research and educational tools. 

XM compared to other brokers:

XM 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.

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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.

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