Alpari vs Eightcap
If you are reading this article, you’re likely having trouble deciding whether Eightcap or Alpari is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.
In this Eightcap versus Alpari review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
|Feature||Alpari (visit site)||Eightcap (visit site)|
Type of Broker:
|Market Maker||Market Maker|
U.S. Clients Allowed:
|£100 or a currency equivalent||$100|
Commissions / Spreads:
Features and Platforms
Eightcap presents clients the out-of-the-box MT4/MT5 trading platforms without upgrades but continues to better its trading environment. The latest addition of Capitalise AI offers a competitive edge, presently only available at four other brokers. Complementing it is excellent trade execution ideal for automated trading solutions, in-house research, and education. Alpari offers the core MT4/MT5 but additionally deploys Alpari CopyTrade and more trading account choices. Active traders will benefit from the Alpari Cashback program and one of the best commission-based pricing environments.
|Type of Platform:||MT4, MT5||MetaTrader 4, MetaTrader 5|
Guaranteed Stop Loss:
Guaranteed Limit Orders:
Interest on Margin:
Australian-based Eightcap maintains 29 currency pairs, four commodities, eight index CFDs, and 150+ equity CFDs. Forex traders at Mauritius-based Alpari get 60 currency pairs, four cryptocurrency pairs, eight commodities, 22 index CFDs, and ten equity CFDs. Alpari notes direct stock trading on instruments listed on the New York Stock Exchange (NYSE) and the NASDAQ stock market. The homepage states 250+ assets, but the contract specifications show less than 100. Forex traders have a wider selection at Alpari, while equity traders will get more choices at Eightcap..
Typical Spreads and Fees
The commission-free cost structure at Eightcap begins with a minimum spread of 1.0 pips or $10 per 1.0 standard lot. Alpari is more expensive at 1.2 pips or $12, so Eightcap clearly comes out ahead here. Eightcap and Alpari also maintain a commission-based alternative. The former grants raw spreads of 0.0 pips for a fee of $7 per round lot. The latter counters with 0.4 pips and $3.00, for a total of $7. It also maintains a volume-based rebate program, giving an edge to active traders. Swap rates on leveraged overnight trades and third-party withdrawal costs apply at both.
Security and Trust
The primary regulator of Eightcap is the Australian Securities & Investments Commission (ASIC). Most international traders will deal with the subsidiary operating with oversight from the Vanuatu Financial Services Commission (VFSC). Alpari holds a license from the Financial Services Commission (FSC) of Mauritius. It is also a member of the Hong-Kong-based Financial Commission, providing traders with an independent, international external dispute resolution (EDR) mechanism and an investor compensation fund of up to €20,000 per case. There is no doubt that Eightcap maintains a superior regulatory position.
Alpari vs Eightcap – Verdict
Eightcap continues to work on its trading conditions, and the addition of Capitalise AI provides it with a competitive edge only available at four other brokers. It offers traders a swift solution to automatize trading strategies using natural language and no coding. The core MT4/MT5 trading platforms are available, but Eightcap has a limited asset selection geared towards equity trading. The order execution supports automated traders, the cost structure remains competitive, and quality in-house research is available alongside educational content. Alpari maintains a transparent trading environment, with Forex trading from the out-of-the-box MT4/MT5 trading platforms at its core. Active traders will benefit from the volume-based cashback program, while the commission-based trading costs remain the same as Eightcap. Overall, Eightcap is likely to be the superior choice for most traders.
How many Forex pairs and CFDs are available to trade?
Eightcap only lists 29 currency pairs, complemented by 150+ CFDs. Alpari shows 60 currency pairs and notes 250+ assets, of which less than 100 remain in the contract specifications.
Does Eightcap or Alpari offer lower pricing?
The commission-free cost structure is expensive at both, but Eightcap has an edge with a minimum mark-up of 1.0 pips versus 1.2 pips at Alpari. The commission-based alternative features identical costs of $7 per round lot, but Alpari has a rebate program.
Which is the more reliable broker?
Both brokers remain reliable choices, but Eightcap has a clear superiority in its regulatory position.
What are the minimum deposits for these brokers?
The minimum deposit at Eightcap and Alpari is $100, but the latter also has a micro account available from $5.