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
Features and Platforms
| Features & Platforms | Eightcap (visit site) | IC Markets (visit site) |
 |  | |
| Headquarter: | Australia | Australia |
Established : | 2009 | 2010 |
Retail Loss Rate: | Undisclosed | 74.32% |
Regulation: | ||
Minimum Deposit: | $100 | $200 |
Demo Account: | ||
Managed Account: | ||
Islamic Account: | ||
Inactivity Fee | ||
Deposit Fee: | Third-Party | No |
Withdrawal Fee | Third-Party | Third-Party |
Funding Methods: | 13 | 15 |
MT4: | ||
MT5: | ||
cTrader: | ||
Proprietary Platform: | ||
Automated Trading: | ||
Social / Copy Trading: | ||
MT4/MT5 Add-ons: | ||
Guaranteed Stop Loss: | ||
Negative Balance Protection: | ||
Bonuses and Promotions: | ||
Unique Feature One: | Innovative trading tools | Superior trade execution |
Unique Feature Two: | Competitive cost structure | Excellent MT4 trading tools |
Broker Offers: |
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
| Available Markets | Eightcap | IC Markets |
| Currency Pairs: | ||
Cryptocurrency Pairs: | ||
Commodities and Metals: | ||
Indices: | ||
Equities: | ||
Bonds: | ||
ETFs: | ||
Options, Futures, and Synthetics: | ||
Maximum Retail Leverage: | 1:500 | 1:500 |
Maximum Pro Leverage: | 1:500 | 1:500 |
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
| Typical Spreads & Fees | Eightcap | IC Markets |
Minimum Raw Spreads: | 0.0 pips | 0.0 pips |
Minimum Standard Spreads: | 1.0 pips | 0.6 pips |
Minimum Commission for Forex: | $7.00 per round lot | $6.00 per round lot |
Commission for CFDs/DMA: | Commission-free | $0.04 per round lot (US) |
Commission Rebates: | No | No |
Execution Type: | Market Maker/ECN Hybrid | Market Maker/ECN |
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
Eightcap
| Country of the Regulator | Name of the Regulator | License Number |
Australia | Australian Securities & Investments Commission | 391441 |
The Bahamas | Securities Commission of The Bahamas | 40377 |
UK | Financial Conduct Authority | 921296 |
Cyprus | Cyprus Securities and Exchange Commission | 246/14 |
St. Vincent and the Grenadines | Financial Services Authority | Unregulated but duly registered |
IC Markets
| Country of the Regulator | Name of the Regulator | License Number |
Seychelles | Seychelles Financial Services Authority | SD018 |
Australia | Australian Securities & Investments Commission | 335692 |
Bahamas | Securities Commission of The Bahamas | SIA-F214 |
Cyprus | Cyprus Securities and Exchange Commission | 362/18 |
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.
FAQs
Is Eightcap a market maker?
Eightcap is an ECN/NDD broker but may act as a market maker in its commission-free account.
Why is IC Markets the best?
IC Markets ranks among the best brokers due to its competitive pricing environment and cutting-edge infrastructure.
Is IC Markets an STP or an ECN?
IC Markets is an ECN/NDD broker.
Is IC Markets a good broker?
IC Markets remains one of the best brokers due to its high-quality product and services portfolio.
Does IC Markets allow scalping?
IC Markets allows scalping and has an excellent infrastructure supporting it.
Does IC Markets have a ZAR account?
IC Markets does not offer an account with ZAR as its base currency.