10 minute read
Exness vs Eightcap: A Comprehensive Comparison for Traders
from Exness
by Exness_Blog
The world of Forex and CFD trading is dynamic and competitive, with brokers like Exness vs Eightcap standing out as top choices for traders globally. Both platforms offer robust trading environments, competitive spreads, and access to popular trading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). However, each broker has unique strengths and weaknesses that can significantly impact your trading experience. This article provides an in-depth comparison of Exness vs. Eightcap, focusing on key factors such as regulation, trading platforms, fees, account types, tradable instruments, and customer support. By the end, you’ll have a clear understanding of which broker best suits your trading style and goals.
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Overview of Exness vs Eightcap
Before diving into the details, let’s briefly introduce both brokers.
Exness
Founded in 2008, Exness is a globally recognized Forex and CFD broker headquartered in Cyprus. It is regulated by multiple top-tier authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA) in South Africa, among others. Exness is known for its low spreads, high leverage, and a user-friendly proprietary mobile app, the Exness Trade App. It caters to both beginner and experienced traders with a variety of account types and over 200 tradable instruments.
Eightcap
Established in 2009, Eightcap is an Australian-based broker regulated by the Australian Securities and Investments Commission (ASIC), the FCA, CySEC, and the Securities Commission of the Bahamas (SCB). Eightcap has gained popularity for its competitive pricing, extensive cryptocurrency CFD offerings, and integration with advanced tools like TradingView and Capitalise.ai. With over 800 tradable instruments, Eightcap appeals to traders seeking diversity and automation in their trading strategies.
1. Regulation and Trustworthiness
Regulation is a critical factor when choosing a broker, as it ensures the safety of your funds and the integrity of the trading environment.
Exness
Exness boasts an impressive regulatory framework, with licenses from:
· Tier-1 jurisdictions: FCA (UK), CySEC (Cyprus)
· Tier-2 jurisdictions: FSCA (South Africa)
· Tier-4 jurisdictions: FSA (Seychelles), FSC (Mauritius), BVI FSC, and CBCS (Curaçao)
This multi-jurisdictional oversight enhances Exness’s trustworthiness, as Tier-1 regulators impose strict capital requirements and rigorous compliance standards. Exness also segregates client funds from corporate accounts and offers negative balance protection, ensuring traders cannot lose more than their deposited funds. However, some users have reported issues with withdrawals due to unverified accounts, emphasizing the importance of completing the verification process promptly.
Eightcap
Eightcap is regulated by:
· Tier-1 jurisdictions: ASIC (Australia), FCA (UK), CySEC (Cyprus)
· Tier-4 jurisdiction: SCB (Bahamas)
While Eightcap’s regulatory profile is strong, it is slightly less extensive than Exness’s. ASIC and FCA are among the most reputable regulators, ensuring high standards of transparency and client fund protection. Like Exness, Eightcap segregates client funds and provides negative balance protection. However, some traders have raised concerns about withdrawal delays or rejections, often linked to incomplete documentation or misunderstandings about the broker’s policies.
Verdict: Exness has a slight edge due to its broader regulatory coverage across multiple jurisdictions. Both brokers are trustworthy, but Exness’s extensive oversight may appeal to traders prioritizing maximum security.
2. Trading Platforms
The trading platform is the backbone of your trading experience, offering the tools and interface needed to execute trades and analyze markets.
Exness
Exness supports a variety of platforms, including:
· MetaTrader 4 (MT4): Ideal for beginners, offering a simple interface and robust charting tools.
· MetaTrader 5 (MT5): More advanced, with additional timeframes, indicators, and support for more asset classes.
· Exness Trade App: A proprietary mobile app praised for its intuitive design and seamless trading experience.
· Exness Terminal: A web-based platform for traders who prefer browser-based trading.
· Social Trading: Allows users to copy trades from experienced traders, ideal for beginners.
Exness’s proprietary platforms, particularly the Exness Trade App, give it an edge for mobile traders. The platforms support one-click trading, trailing stops, and pending orders, catering to various trading styles.
Eightcap
Eightcap offers:
· MetaTrader 4 (MT4): Popular for its reliability and extensive third-party plugin support.
· MetaTrader 5 (MT5): Suitable for advanced traders with enhanced features.
· TradingView: A powerful charting platform integrated with Eightcap, offering advanced technical analysis tools.
· WebTrader: A browser-based version of MT4/MT5 for flexible access.
· Capitalise.ai: A unique tool for creating automated trading strategies without coding.
Eightcap’s integration with TradingView and Capitalise.ai makes it a standout for traders who value advanced charting and automation. However, it lacks a proprietary mobile app, which may be a drawback for some.
Verdict: Exness is better for mobile traders due to its proprietary app, while Eightcap excels for those who prioritize advanced charting and automation through TradingView and Capitalise.ai.
3. Fees and Spreads
Trading costs, including spreads and commissions, directly impact profitability, making this a crucial area of comparison.
Exness
Exness is renowned for its competitive pricing, offering:
· Spreads: Variable spreads starting from 0.0 pips on the Zero and Raw Spread accounts. Standard accounts have spreads starting at 0.2 pips.
· Commissions: $3.50 per lot per side on Raw Spread accounts; Zero accounts have commissions as low as $0.05 per lot per side for high-volume traders.
· Swap Fees: Exness offers swap-free accounts for Islamic traders, eliminating overnight financing costs on certain instruments.
· Inactivity Fees: None, making Exness suitable for infrequent traders.
Exness’s low spreads and flexible commission structure make it cost-effective, particularly for high-frequency traders.
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Eightcap
Eightcap also offers competitive pricing:
· Spreads: Variable spreads starting from 0.0 pips on the Raw Account, with Standard Account spreads starting at 1.0 pip.
· Commissions: $3.50 per lot per side on the Raw Account; Standard Accounts are commission-free.
· Swap Fees: Not publicly listed, requiring traders to check the MT4/MT5 Market Watch panel for up-to-date rates.
· Inactivity Fees: None, similar to Exness.
Eightcap’s commission-free Standard Account is attractive for beginners, while its Raw Account offers tight spreads for experienced traders.
Verdict: Exness has a slight advantage due to its lower commission rates on certain accounts and transparent swap-free options. However, Eightcap’s commission-free Standard Account may appeal to cost-conscious beginners.
4. Account Types
The variety of account types allows traders to choose an option that aligns with their experience and trading goals.
Exness
Exness offers five account types:
· Standard Account: No commissions, spreads from 0.2 pips, suitable for beginners.
· Standard Cent Account: Ideal for micro-trading with smaller lot sizes.
· Pro Account: Low spreads (from 0.1 pip), no commissions, designed for experienced traders.
· Raw Spread Account: Spreads from 0.0 pips, $3.50 commission per lot per side.
· Zero Account: Near-zero spreads on major pairs, variable commissions starting at $0.05 per lot per side.
The minimum deposit varies, with Standard accounts requiring as little as $1 in some regions, making Exness accessible to beginners.
Eightcap
Eightcap provides two main account types:
· Standard Account: Commission-free, spreads from 1.0 pip, minimum deposit of $100.
· Raw Account: Spreads from 0.0 pips, $3.50 commission per lot per side, minimum deposit of $100.
Eightcap also offers a demo account, which expires after 30 days unless extended upon request.
Verdict: Exness offers greater flexibility with its diverse account types, catering to a wider range of traders. Eightcap’s simpler structure is user-friendly but less varied.
5. Tradable Instruments
The range of tradable instruments determines the diversity of trading opportunities available.
Exness
Exness offers approximately 224 tradable instruments, including:
· Forex (96 currency pairs)
· CFDs on stocks, indices, commodities, and energies
· Cryptocurrencies (34 pairs)
· Metals (gold, silver)
While Exness’s offering is robust, it is relatively limited compared to some competitors.
Eightcap
Eightcap provides over 800 instruments, including:
· Forex (56 currency pairs)
· CFDs on stocks, indices, commodities, and energies
· Cryptocurrencies (155 CFDs, a standout feature)
· Crypto indices for broader market exposure
Eightcap’s extensive cryptocurrency CFD selection makes it a leader in this category, though these are unavailable to UK traders due to FCA regulations.
Verdict: Eightcap is the clear winner for traders seeking a broader range of instruments, particularly in cryptocurrencies. Exness is sufficient for those focused on Forex and core CFDs.
6. Deposits and Withdrawals
Efficient and cost-effective funding options are essential for a seamless trading experience.
Exness
Exness supports a wide range of payment methods, including:
· Bank cards (VISA, MasterCard)
· E-wallets (Skrill, Neteller, PerfectMoney)
· Cryptocurrencies (Bitcoin, Tether)
· Local bank transfers and mobile payment options
Exness is known for instant withdrawals, particularly with e-wallets, and charges no fees for deposits or withdrawals in most cases.
Eightcap
Eightcap offers:
· Bank wire transfers
· Bank cards (VISA, MasterCard)
· E-wallets (Skrill, Neteller, PayPal)
· Local payment options (BPAY, Poli, UnionPay)
Deposits are processed instantly for most methods, while withdrawals take 1-3 business days. Eightcap charges no fees for deposits or withdrawals, though bank transfer fees from intermediary banks may apply.
Verdict: Exness has an edge due to its instant withdrawals and broader range of payment methods, including cryptocurrencies.
7. Customer Support
Reliable customer support is vital for resolving issues and ensuring a smooth trading experience.
Exness
Exness provides 24/7 customer support via:
· Live chat
· Phone
Support is available in multiple languages, making it accessible to a global audience. Traders generally report positive experiences with Exness’s responsive support team.
Eightcap
Eightcap offers 24/5 customer support through:
· Live chat
· Phone
While Eightcap’s support is responsive, its 24/5 availability is less comprehensive than Exness’s 24/7 service.
Verdict: Exness is superior due to its round-the-clock support, which is critical for traders in different time zones.
8. Educational Resources and Tools
Educational resources and trading tools can enhance a trader’s skills and decision-making.
Exness
Exness offers:
· Webinars and video tutorials
· Articles on trading strategies
· Economic calendar
· Social trading platform for copying trades
While Exness’s educational content is solid, it is less extensive than some competitors.
Eightcap
Eightcap provides:
· Webinars and tutorials
· AI-powered economic calendar (via Acuity partnership)
· Daily trade ideas and professional insights
· Capitalise.ai for automated trading
Eightcap’s focus on advanced tools like Capitalise.ai and its TradingView integration gives it an edge for tech-savvy traders.
Verdict: Eightcap excels in providing advanced tools and insights, while Exness is better for beginners leveraging social trading.
Which Broker Should You Choose?
Choosing between Exness vs Eightcap depends on your trading priorities:
· Choose Exness if:
· You prioritize extensive regulation and fund safety.
· You prefer low-cost trading with flexible account types.
· You value instant withdrawals and a robust mobile app.
· You’re a beginner or intermediate trader focused on Forex and core CFDs.
· Choose Eightcap if:
· You want access to a wide range of instruments, especially cryptocurrency CFDs.
· You prefer advanced charting and automation tools like TradingView and Capitalise.ai.
· You’re an experienced trader seeking competitive spreads and a streamlined account structure.
Conclusion
Both Exness vs Eightcap are reputable brokers with competitive offerings, but they cater to slightly different audiences. Exness stands out for its regulatory strength, low-cost accounts, and mobile trading capabilities, making it ideal for beginners and Forex-focused traders. Eightcap, on the other hand, excels in instrument diversity, advanced tools, and cryptocurrency trading, appealing to experienced traders seeking variety and automation.
Ultimately, the best broker depends on your trading style, experience level, and priorities. Test both platforms with a demo account to determine which aligns with your needs. For more detailed comparisons, check trusted resources like Brokersway, Brokerxplorer.
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