Traders at Eightcap get the out-of-the-box MT4/MT5 trading platforms, with complete support for algorithmic trading and integrated copy trading services. Eightcap also offers Capitalise AI, enabling traders to automate strategies in a code-free environment. The most recent additions to the Eightcap product portfolio are services by the Amazing Trader.

XM presents traders with a well-balanced multi-asset broker. Besides the core MT4/MT5, XM maintains low trading costs and a balanced asset selection. It is also one of the most accessible brokers with a $5 minimum deposit requirement, while generous bonuses and incentives are also available. XM also features quality trading tools.

We have conducted an in-depth review of Eightcap and XM to determine which presents the better overall choice and which traders will benefit the most at either broker.

Headquarters
AustraliaCyprus
Regulators
ASIC, CySEC, FCA, SCBASIC, CySEC, DFSA, FSC Belize
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established
20092009
Execution Type(s)
ECN/STP, Market MakerMarket Maker
Minimum Deposit
$100$5
Negative Balance Protection
N/A
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Trading ViewMetaTrader 4, MetaTrader 5, Proprietary platform
Average Trading Cost EUR/USD
1.0 pips0.1 pips
Average Trading Cost GBP/USD
1.2 pips0.2 pips
Average Trading Cost WTI Crude Oil
$0.03 $0.05
Average Trading Cost Gold
$0.12 $0.19
Minimum Commission for Forex
$7.00 per Round Lot N/A
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
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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
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Noteworthy:

Both brokers offer quality education and research. XM features one of the most efficient order execution environments, mostly without requotes or rejections, while Eightcap has the MAM module for account managers.

Available Markets

Currency Pairs
Cryptocurrencies
Commodities
Crude Oil
Gold
Metals
Equity Indices
Stocks (non-CFDs)
Bonds
N/A
ETFs
Options
N/A
Futures
Synthetics
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Eightcap has 56 currency pairs and 155 cryptocurrency CFDs, making it a leader in the crypto category. The list of trading instruments exceeds 800, bested by 1,300+ at XM, where Forex and equity traders get a better choice of trading instruments. Both brokers maintain a balanced asset selection suitable for most traders.

Typical Spreads and Fees

Average Trading Cost EUR/USD
1.0 pips0.1 pips
Average Trading Cost GBP/USD
1.2 pips0.2 pips
Average Trading Cost WTI Crude Oil
$0.03 $0.05
Average Trading Cost Gold
$0.12 $0.19
Average Trading Cost Bitcoin
$12 N/A
Minimum Commission for Forex
$7.00 per Round Lot N/A
Withdrawal Fee
N/A
Inactivity Fee
No N/A
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Both brokers offer traders a competitive pricing environment. XM has an edge with its commission-based costs structure and minimum Forex costs of $6.00 per round lot plus a volume-based rebate program. Eightcap counters with a minimum commission-based fee of $7.00 per lot, but it ranks among the lowest-priced cryptocurrency CFD brokers.

Security and Trust

Country of the Regulator
Australia, The Bahamas, Cyprus, United KingdomUnited Arab Emirates, Australia, The Bahamas, Belize, Cyprus, United Kingdom, United States
Name of the Regulator
ASIC, CySEC, FCA, SCBASIC, CySEC, DFSA, FSC Belize
Regulatory License Number
391441, 40377, 246/14, 921296705428, 120/10, 443670,000261/27, F003484, SIA-F201, 0516820
Regulatory Tier
N/A1,1,1,4,2,4,1
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Eightcap and XM both segregate client deposits from corporate funds and offer negative balance protection. XM complies with more global regulators, including the UK and Cyprus, which have investor compensation funds. Despite this, traders get a clean regulatory track record and an equally secure and trustworthy trading environment at both brokers.

Eightcap vs XM – Verdict

Eightcap

Pros
Cons
Innovative trading tools focused on algorithmic tradingBelow-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

XM

Pros
Cons
A well-balanced overall asset selection Limited cryptocurrency selection
Upgraded MT4/MT5 trading accounts with excellent order execution statistics
Low minimum deposit of $5 and maximum leverage of 1:888
Competitive commission-free trading costs from $5.00 per 1.0 standard lot

Both brokers provide traders with a competitive environment and the core MT4/MT5 trading platforms. Eightcap takes an overall lead as it features Capitalise AI, enabling automation of strategies in a code-free environment. It also added the dedicated cryptocurrency solution Cryptocrusher and services by the Amazing Trader. XM maintains lower trading costs and a narrowly broader asset selection, but Eightcap takes the overall lead through its cryptocurrency CFD selection and algorithmic trading environment.

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FAQs

Is XM regulated in the UAE?

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XM has a subsidiary in Dubai with a regulatory license issued by the DFSA.

Is XM a South African broker?

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XM is not a South African broker but accepts South African traders through its international subsidiaries.

Is XM a good Forex broker?

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XM is a good Forex broker offering a balanced product and services portfolio, low trading costs, and valuable tools for beginner traders.

Is Eightcap a legit broker?

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Eightcap is a legit broker with more than a decade of operational experience and a clean regulatory track record in two jurisdictions.

Is Eightcap available in the US?

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Eightcap does not accept US-based traders.