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Eightcap vs IC Markets
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Updated:
Compare Eightcap Vs IC Markets Side by Side
Selecting between Eightcap vs IC Markets and wish to see who is better Broker for your trading strategy? We made a detailed comparison between Eightcap Review and IC Markets Review, comparing safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details side by side.
Summary
| Feature | Eightcap | IC Markets |
|---|---|---|
| Website | //www.eightcap.com | //www.icmarkets.com |
| Founded year | 2009 | 2007 |
| Headquarter | Australia | Australia |
| Licenses | ASIC, SBC | Australia, Cyprus, Seychelles |
| Minimum Deposit | US$ 100 | 200 US$ |
| Trading Platforms | MT4, MT5, TradingView | cTrader, MT4, MT5 |
| Eurusd avg Spread | 0.8 pips | 1 pip |
Licenses
| Feature | Eightcap | IC Markets |
|---|---|---|
| Licenses Countries Info (short) |
|
|
Eightcap and IC Markets both maintain strong regulatory frameworks, backed by esteemed authorities and include offshore entities that cater to international traders. However, when it comes to regulation, IC Markets holds a distinguishing position with its top-tier licenses, enabling operations within the European Union. In contrast, Eightcap operates primarily under the regulation of ASIC, without the extensive geographic licensure of its counterpart.
Broker Types
| Feature | Eightcap | IC Markets |
|---|---|---|
| Broker types |
|
|
Both Eightcap and IC Markets operate as ECN/NDD brokers, presenting a transparent pricing structure and fostering high trading efficiency. This approach is conducive to various trading strategies, catering to the needs of retail traders effectively.
Trading Conditions
| Feature | Eightcap | IC Markets |
|---|---|---|
| Trading Conditions |
|
|
Eightcap offers flexible trading options, allowing traders to choose between trading with spreads that include fees or opting for zero spreads with competitively priced commissions. On the other hand, IC Markets is known for its competitive trading conditions, marked by quick order execution and narrow spreads. Unlike Eightcap, which restricts certain trading strategies such as scalping, IC Markets provides traders with the freedom to employ a broader array of trading tactics.
Fees & Commissions
| Fees & Commissions | Eightcap | IC Markets |
|---|---|---|
| Inactivity Feemonth | $0 | 0 $ |
| Deposit fee | $0 | 0 $ |
| Withdrawal fee | $0 | 0 $ |
| Rollover fee eurusd buy 1 lot | -7.328375 | -0.62 |
| Rollover fee eurusd sell 1 lot | 3.100375 | 0.41 |
| Avg Eurusd standard acc | 0.8 pips | 1 pips |
| Gold | 4 pips | 1 |
| Brent oil | 4 pips | 5 pip |
| Bitcoin | 20 USD | 42.036 |
Eightcap and IC Markets both present competitive and relatively low trading fees, showcasing similarity in their cost structures with zero trading and non-trading commissions. Their spreads are also impressively low, enhancing their attractiveness to traders. For instance, the spreads for the EURUSD are considerably lower than the industry average, exemplifying their commitment to offering cost-effective trading options.
Account Types
| Feature | Eightcap | IC Markets |
|---|---|---|
| Account types |
|
|
Eightcap provides two main types of accounts: Standard and Raw, while IC Markets presents a variety of account options to suit different preferences, including a Standard account and two Raw Spreads Accounts. One of the Raw Spreads Accounts is exclusively designed for the cTrader platform, ensuring that traders of all kinds have the flexibility they need.
Markets & Instruments
| Markets & Instruments | Eightcap | IC Markets |
|---|---|---|
| Forex | 42 | 60 |
| Indices | 11 | 23 |
| Commodities | 4 | 19 |
| Cryptocurrencies | 300+ | 10 |
| Shares | 6 | 120+ |
| Bonds | ❌ | 9+ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ❌ | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | 4 |
| Etfs | ❌ | ❌ |
Eightcap offers a diverse range of trading markets such as forex, indices, commodities, cryptocurrencies, and shares. Similarly, IC Markets boasts a wide variety of trading tools and assets, including Forex, commodities, equity indices, cryptocurrencies, and shares, as well as additional offerings like bonds and futures.
Trading Platforms
| Feature | Eightcap | IC Markets |
|---|---|---|
| Platforms |
|
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Both brokers, Eightcap and IC Markets, provide the industry-standard MT4 and MT5 trading platforms, ensuring that traders have reliable tools for their trading activities. However, IC Markets sets itself apart by also offering the cTrader platform, which is more finely tailored to meet the needs of advanced traders, positioning it as the optimum technical solution in the trading industry.
Deposit & Withdrawal Methods
| Feature | Eightcap | IC Markets |
|---|---|---|
| Payment methods |
|
|
Eightcap vs IC Markets offer a variety of convenient payment methods to cater to the diverse needs of their clients. Traders can execute transactions seamlessly using different options such as credit/debit card transfers and bank transfers. Additionally, they also provide the flexibility of e-wallet options, ensuring that every trader finds a payment method that suits their preferences and requirements, facilitating an efficient and user-friendly trading experience.
Others
| Feature | Eightcap | IC Markets |
|---|---|---|
| Others |
|
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Eightcap and IC Markets both prioritize delivering exceptional customer service and support, ensuring that client satisfaction is maintained at professional and sustainable levels. Nevertheless, IC Markets takes the lead in customer service by offering continuous, 24/7 support to its clients.
In terms of educational resources, there is a notable difference between the two brokers. Eightcap’s educational offerings are somewhat limited, primarily focusing on webinars and lacking an extensive collection of video tutorials. On the other hand, IC Markets stands out by providing a rich variety of educational materials. These resources are meticulously tailored to meet the needs of beginner traders, ensuring that they have access to comprehensive learning tools and support.
Conclusion on IC Markets vs Eightcap
After comparing Eightcap vs IC Markets, we conclude that both brokers are reliable, trustworthy, and well-regulated, each offering solid international services due to their extensive trading experience. They both ensure exceptional trading conditions, promoting a conducive trading environment. However, for scalpers, IC Markets might be the more suitable choice, as Eightcap imposes certain limitations on scalping strategies. Additionally, for those who prefer using the cTrader platform, IC Markets would also be the recommended option. Here is our final recommendation:
- Eightcap – 🥇Best Hedging Broker with good reputation and excellent execution speed
- IC Markets – 🥇Best Technical Trading Broker for offering better conditions and sophisticated platform
