If you are reading this article, you’re likely having trouble deciding whether Eightcap or Elev8 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 vs Elev8 review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- Elev8 vs Eightcap - Verdict
Comoros Australia FSC Mauritius, MWALI International Services Authority ASIC, CySEC, FCA, FSA 2011 2009 Market Maker ECN/STP, Market Maker $25 $100 MetaTrader 4, MetaTrader 5, Proprietary platform Other, MetaTrader 4, MetaTrader 5, Trading View, TradeLocker+ 0.9 pips 1.0 pips 1.3 pips 1.2 pips $0.07 $0.03 $0.30 $0.12 67.65% N/A Not applicable N/A 0.6 pips N/A Commission-free $7.00 per Round Lot Visit Website Visit Website
Features and Platforms
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Eightcap, based in Australia, maintains the core MT4/MT5 trading platforms, upgraded via the Amazing Trader plugin and the active TradingView community. Other notable features are quality in-house research, education, and excellent trade execution. Elev8 provides traders with MT4/MT5 plus the Autochartist plugin and Elev8 Trader, with its unique Space feature. It has also developed its own proprietary copy trading platform.
Available Markets
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Eightcap features 40+ currency pairs versus 52 at Elev8. The asset selection extends with four commodities and eleven index CFDs at Eightcap compared to five and ten at Elev8. Eightcap maintains 900+ equity CFDs and 250+ cryptocurrencies, while Elev8 has zero and 34, respectively. Overall, Eightcap grants traders a balanced selection with 1,200+ assets. Elev8 maintains one of the smaller trading instrument selections in the industry.
Typical Spreads and Fees
0.9 pips 1.0 pips 1.3 pips 1.2 pips $0.07 $0.03 $0.30 $0.12 $11 $12 Not applicable N/A 0.6 pips N/A Commission-free $7.00 per Round Lot N/A No No Visit Website Visit Website
Eightcap deploys an expensive commission-free pricing environment with a minimum mark-up of 1.0 pips or $10 per 1.0 standard lot. Elev8 counters with 0.6 pips or $6 per lot. The commission-based alternative at Eightcap shows raw spreads of 0.0 pips for a cost of $7 per lot. Elev8 lists an expensive commission-based option with spreads from 0.8 pips for a commission between $4.00 and $6.00. The Status Level reward program decreases costs further. Eightcap levies swap rates on leveraged overnight positions, while Elev8 applies a mix of fees labeled differently. Third-party payment processor fees apply equally.
Security and Trust
Comoros Australia, Cyprus, Seychelles, United Kingdom FSC Mauritius, MWALI International Services Authority ASIC, CySEC, FCA, FSA 51913 391441, 40377, 246/14, 921296 Visit Website Visit Website
The Australian Securities & Investments Commission (ASIC) is the primary regulator at Eightcap. Additional oversight exists from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Securities Commission of The Bahamas (SCB). Eightcap also has a subsidiary in St. Vincent and the Grenadines. Elev8 is regulated by CySEC, by the South African FSCA, as well as the Mwali International Services Authority. Both brokers segregate client deposits and offer negative balance protection.
Elev8 vs Eightcap – Verdict
Eightcap continues to improve its trading environment, geared primarily towards equity traders. Only the out-of-the-box MT4/MT5 trading platforms are available, upgraded via the Amazing Trader plugin and the active TradingView community. Eightcap publishes in-house research and maintains quality educational content. Elev8 presents more trading platform choices with Elev8Trader and a proprietary mobile app, ranking among the smallest industry-wide, but the commission-free cost structure is competitive. Elev8 remains a rare broker where the commission-based alternative remains notably more expensive. Copy traders may benefit from the in-house platform at Elev8, but Eightcap is the superior choice for most traders.
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