IC Markets versus Eightcap
Traders at Eightcap get the out-of-the-box MT4/MT5, upgraded by services from the Amazing Trader via its plugin. Eightcap also grants traders Capitalise AI, the innovative tool providing a code-free environment to automate trading strategies and connects accounts to the active TradingView community. Given its market-leading cryptocurrency selection, it added the cryptocurrency solution Cryptocrusher.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- IC Markets versus Eightcap - Verdict
 |  | |
Headquarters | Australia | Australia |
Regulators | ASIC, CySEC, FCA, SCB | ASIC, CySEC, FSA |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2009 | 2010 |
Execution Type(s) | ECN/STP, Market Maker | ECN/STP |
Minimum Deposit | $100 | $200 |
Negative Balance Protection | N/A | |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Trading View | MetaTrader 4, MetaTrader 5, cTrader |
Average Trading Cost EUR/USD | 1.0 pips | 0.0 pips ($0.00) |
Average Trading Cost GBP/USD | 1.2 pips | 0.0 pips ($0.00) |
Average Trading Cost WTI Crude Oil | $0.03 | $0.03 |
Average Trading Cost Gold | $0.12 | $0.05 |
Minimum Commission for Forex | $7.00 per Round Lot | N/A |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Get Started | Get Started |
Features and Platforms
| | |
MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | N/A | |
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | N/A | |
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Get Started | Get Started |
Noteworthy:
Eightcap offers account managers the MAM module, and both brokers have deep liquidity and fast order execution, making them ideal brokers for demanding institutional-grade requirements. Eightcap and IC Markets are both market-leading multi-asset brokers.
Available Markets
| | |
Currency Pairs | ||
Cryptocurrencies | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks | N/A | |
Stocks (non-CFDs) | ||
Bonds | ||
ETFs | ||
Options | N/A | |
Futures | ||
Synthetics | ||
| Get Started | Get Started |
The asset selections at both brokers are well balanced, where Eightcap lists 1,000+ trading instruments versus 2,000+ at IC Markets. The former became a leading cryptocurrency broker with 250 CFDs, while the latter expanded to 1,800+ equity CFDs. IC Markets takes the lead in available markets with better cross-asset diversification and wider sector coverage.
Typical Spreads and Fees
| | |
Average Trading Cost EUR/USD | 1.0 pips | 0.0 pips ($0.00) |
Average Trading Cost GBP/USD | 1.2 pips | 0.0 pips ($0.00) |
Average Trading Cost WTI Crude Oil | $0.03 | $0.03 |
Average Trading Cost Gold | $0.12 | $0.05 |
Average Trading Cost Bitcoin | $12 | $12.47 |
Minimum Commission for Forex | $7.00 per Round Lot | N/A |
Withdrawal Fee | N/A | |
Inactivity Fee | No | N/A |
| Get Started | Get Started |
Both brokers offer traders raw spreads from 0.0 pips in their competitive commission-based accounts, but Eightcap charges $7.00 per round lot versus $6.00 at IC Markets. The former has commission-free equity trading, and the latter charges $0.04 per round lot for US-listed stocks.
Security and Trust
| | |
Country of the Regulator | Australia, The Bahamas, Cyprus, United Kingdom | Australia, The Bahamas, Cyprus, Seychelles |
Name of the Regulator | ASIC, CySEC, FCA, SCB | ASIC, CySEC, FSA |
Regulatory License Number | 391441, 40377, 246/14, 921296 | 335692, SD018, SIA-F214, 362/18 |
Regulatory Tier | N/A | 1, 4, 4, 1 |
| Get Started | Get Started |
From a security and trust perspective, both brokers rank equally. Both have an excellent history and infrastructure. Regulators in Australia and the Bahamas oversee operations at Eightcap and IC Markets. The former also has licenses from the FCA and the CySEC, while the latter has additional oversight in Seychelles and Cyprus. Negative balance protection and segregation of client deposits from corporate funds exist at Eightcap and IC Markets.
IC Markets vs Eightcap – Verdict
Eightcap
| Pros | Cons |
| Innovative trading tools focused on algorithmic trading | Below-average Forex selection |
| Balanced asset selection and leading cryptocurrency broker | |
| Competitive commission-based cost structure and deep liquidity | |
| Quality educational content and research for beginner traders |
IC Markets
| Pros | Cons |
| Excellent choice of trading platforms consisting of MT4/MT5, and cTrader | Minimum deposit slightly higher but within a reasonable range |
| Market-leading MT4 upgrade package, MAM/PAMM accounts, and VPS hosting | |
| Social trading support via Myfxbook, MetaTrader Signals, and ZuluTrade | |
| Leverage of up to 1:500, deep liquidity, and superb trade execution |
Eightcap and IC Markets offer a similar trading environment, streamlined for algorithmic trading solutions, where the latter shines. IC Markets takes the lead in asset selection and is marginally ahead with its pricing environment. Eightcap takes the lead as the better broker overall due to its recent addition of high-quality trading tools and solutions, which offer beginner traders assistance with algorithmic trading.
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