How do Eightcap and IFC Markets stack up against each other?
The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.
At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.
To compare Eightcap and IFC Markets, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.
Does Eightcap or IFC Markets have a better trust and regulation rating?
Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.
In our comparison, we found that Eightcap holds three Tier 1 and no Tier 2 licences, and IFC Markets holds one Tier 1 and no Tier 2 licences.
Is Eightcap financially regulated?
Yes Eightcap was founded in 2009 and is regulated by ASIC, CySEC, FCA and SCB.
Is IFC Markets financially regulated?
Yes IFC Markets was founded in 2006 and is regulated by B.V.I FSC, CySEC and LFSA.
Based on these findings, Eightcap earned a higher trust rating than IFC Markets.
Does Eightcap or IFC Markets have lower costs?
Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged.
Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that IFC Markets has overall lower trading costs than Eightcap.
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Does Eightcap or IFC Markets offer a better choice of trading platforms?
Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms.
In this case, IFC Markets offers support for TradingView and Eightcap offers support for MT4 and MT5.
Do the brokers offer copy trading?
In this case both Eightcap and IFC Markets offer copy trading.
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Which broker offers a better choice of trading instruments?
A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that IFC Markets offers a greater range and depth of instruments to trade than Eightcap. IFC Markets offers 49 Forex pairs to trade and Eightcap offers 40 Forex pairs to trade.
And what about Cryptocurrencies?
In this case, IFC Markets offers 15 cryptocurrencies while Eightcap offers 0 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with IFC Markets.
Which broker offers better deposit and withdrawal processes?
Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals.
We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that IFC Markets charges a withdrawal fee and Eightcap does not. Overall, Eightcap has better deposit and withdrawal processes than IFC Markets.
Which broker offers better educational support?
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
Eightcap and IFC Markets both have moderate educational support. Both Eightcap and IFC Markets offer educational support for more experienced traders.
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Which broker offers better market analysis materials?
To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field.
We found that Eightcap offers better research analysis than IFC Markets and that both Eightcap and IFC Markets offer frequent webinars.
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Our overall Verdict on Eightcap
Eightcap is an FCA-regulated broker with a single trading account only available on the TradingView platform. This account has a minimum deposit of 100 GBP (or currency equivalent) with spreads starting at 1 pip on the EUR/USD. Assets available to trade include 40+ Forex pairs, indices, commodities, and share CFDs.
While Forex education and analysis are not as comprehensive as some of Eightcap’s larger competitors, customer service is available in 10 languages and is responsive and knowledgeable. Beginners should be aware that Eightcap does not offer a demo account.
Eightcap Group Ltd for UK residents is FCA authorised and regulated and offers CFD trading on over 600 markets across forex, indices, commodities, and shares. Eightcap’s UK entity is the only dedicated, specialist TradingView broker in the UK, providing a tailored product experience to get the most out of trading via TradingView.
*You must meet the Eightcap target market criteria (including being assessed as having the required knowledge and experience to trade in CFDs to trade with this broker)
Our overall Verdict on IFC Markets
IFC Markets caters well to beginner traders with four low-cost Micro accounts, a well-structured education section, and support for its proprietary platform, which is easier to use and set up than other third-party platforms. IFC Markets also stands out for its innovative Portfolio Quoting Method, which allows for the creation of personalized trading instruments.
IFC Markets offers a low-cost trading environment for traders willing to try its proprietary NetTradeX platform. Support is also provided for the Metatrader platforms, but trading costs remain uncompetitive. However, clients can choose to trade on over 600 financial assets, including synthetic CFDs, and even create their instruments.
It is clear that IFC Markets focuses on providing a welcoming environment for new traders, with minimum deposits of 5 USD on its beginner-friendly Micro accounts and a host of learning materials covering trading basics.
Alongside the high trading fees on the Metatrader platforms, IFC Markets' non-trading fees are high, including charges for deposits and withdrawals. In addition, it has a limited number of base currencies, which means that British traders will have to pay currency conversion fees.
Which broker has the highest overall rating?
Eightcap has an overall rating of 4.53 and IFC Markets has an overall rating of 3.60. For more detail please read our reviews of
Eightcap and
IFC Markets.