Eightcap vs Interactive Brokers Compared (2023)

Published :
Updated :
Written by
Ryan Hardy sitting before his forex trading desk
Fact Checked by
Richard Walz headshoot
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Traders consistently seek trusted and reliable trading platforms that suit their trading styles and preferences. Eightcap and Interactive Brokers are top-tier regulated brokers providing online trading services worldwide. Eightcap is known for its social trading and multi-asset platform, regulated in three tier-1 jurisdictions and one tier-4 jurisdictions including ASIC, FCA, CySEC, SCB.  On the other hand, Interactive Brokers specializes in online forex trading,  regulated by eight Tier-1 jurisdictions and two Tier-2 jurisdictions  including ASIC,IIROC , MNB,SFC,SEBI,, CBI,,FSA-Japan, MAS,FCA , FINRA,SEC. While these brokers offer similar services, they each have their own strengths and weaknesses.

In this article, I have compared Eightcap and Interactive Brokers in terms of trading platforms, Pros, Cons, regulations, tradable assets, fees, customer support, and overall trading experience score. This analysis aims to help you determine which broker better suits your trading style and preferences.

Eightcap vs Interactive Broker: In a Nutshell

Eightcap

EightCap was registered in Melbourne, Australia in 2009. The broker allows the trading of over 800 forex and CFDs on its platforms which include MT4, MT4, and TradingView. Traders are provided with tools like free VPS, Crypto Crusher, Capitalise.ai, FlashTrader, Trade Idea, outlook, etc.

Eightcap Overview
  • Founded In: 2009
  • Minimum Deposit: $100
  • Maximum Leverage: 1:1000
  • Regulations: ASIC,FCA, CySEC, SCB
  • Trading platform: MT4, MT5, TradingView, Webtrader
  • Account Types: Standard, Raw, Tradingview
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Neteller, PayPal, Poli, Skrill, UnionPay, XPAY
  • US Traders: Not Accept

Interactive Broker

Founded in New York, USA in 1978 by Thomas Peterffy, Interactive Broker has grown into a global brand with over 2.1 million clients. It has become one of the leading online trading solutions for traders, investors, and advisors. The brokers give access to over 5000+ tradable assets including forex, CFDs, warrants, ETFs Options, Futures, Mutual Funds, and Bonds. To trade online, IBKR offers WebTrader, FIX API, MobileTrader (MobileApp), and TWS trading platforms.

Interactive Brokers Overview
  • Founded In: 1978
  • Minimum Deposit: None
  • Maximum Leverage: 500:1
  • Regulations: SEC , CFTC ,FCA, FSCS, ASIC , IIROC , FSA
  • Trading platform: WebTrader, FIX API, MobileTrader
  • Account Types: Family Office Account ,UGMA/UTMA, IRA, Trust ,Joint, Individuals
  • Payment Options: Bank Wire (BankTransfer/SWIFT), ACH (Automated Clearing House), BPAY, Check, Direct Debit, Local Bank Deposits, Transfer from Existing Broker
  • US Traders:  Accepted 

Eightcap vs Interactive Broker: Pros and Cons

Eightcap

Pros
  • Regulated by ASIC, FCA, VFSA 
  • The Maximum Leverage is as high as 1:500
  • Offers passive investment programme(MAM, PAMM accounts) 
  • No Deposit/Withdrawal Fees
  • Easy To Open An Account
  • Scalping and EA Trading are allowed 
  • 100+ Crypto CFDs available
Cons
  • Minimum deposit is $100
  • No Investor Protection for non-EU Clients
  • The Broker is not regulated by FCA UK 
  • Conditions and trading costs vary according to the entity
  • Hedging is not allowed with the ASIC entity
  • No joint accounts, copy trading, referral program, or other options for passive income

Interactive Broker

Pros
  • IBK is a Forex and Stock Broker 
  • Excellent reputation (founded in 1978)
  • Regulated by top regulators like  ASIC, FCA, FSA, SFC, IIROC 
  • A wide range of products offered warrants, ETFs, Options, Futures, Mutual Funds, Bonds 
  • Over 18,000 no-transaction-fee mutual funds.
  • No monthly inactivity fee
  • Low trading fees and high interest (up to 4.58% for USD) on cash balances
  • Access to international markets and exchanges 
  • Mobile apps are convenient for individual investors.
Cons
  • Complicated account opening 
  • Learning Curve for Beginners
  • The maximum leverage is only 1:40 
  •  No Metatrader platforms (MT4, MT5) offered 
  • High minimum deposit requirements for some account types 
  • Interactive Advisors (Robo-advisor feature) is only available for US customers
  • No fixed spread is available 

Eightcap vs Interactive Broker: Side-by-Side Comparison

Eightcap
Interactive Broker
Product
Founded In
Founded In
2009
1978
Founded By
Founded By
Alex Howard
Chairman Thomas Peterffy
Headquarters
Headquarters
Melbourne, Australia
Greenwich, Connecticut, United States
Regulations
Regulations
ASIC,FCA, CySEC, SCB
SEC , CFTC ,FCA, FSCS
Min Deposit
Min Deposit
$100
None
Max Leverage
Max Leverage
500:1
40:1
Tradable Assets
Tradable Assets
Forex,Commodities,Indices,Shares,Crypto
Stocks, options, futures, futures options, SSFs, ETFs, EFPs, currencies, fixed income, warrants and funds
Fees
Fees
Spread from 1 pips or $3.5 per standard lot traded
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5, TradingView, Webtrade
WebTrader, FIX API, MobileTrader
US Traders
US Traders
Not Allowed
Allowed

EightcapVs Interactive Broker: Our Scores and Ratings

We rated both brokers, Eightcap and Interactive Broker, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

Eightcap :

9
Total Score
Regulation and Security (40%)9.6
Fees and Commissions (20%)9
Trading (15%)8.5
Trading tools (10%)8.6
Customer Support (10%)9
Trading Education (5%)7.2

Interactive Broker

9.1
Interactive Brokers Score
Regulation and Security (40%)10
Fees and Commissions (20%)8
Trading (15%)9
Trading tools (10%)7
Customer Support (10%)9.5
Trading Education (5%)9

Final Verdict :

Both Eightcap and Interactive Brokers are regulated online trading platforms in the industry, offering services to traders and investors. However, there are some differences between them. Eightcap is a multi-asset and social trading platform, providing trading instruments, including  forex CFDs,commodity CFDs,index CFDs, share CFDs ,crypto CFDs.It offers both leverage and non-leverage tradable assets. On the other hand, Interactive Brokers is a forex and CFD broker offers Stocks, options, futures, futures options, SSFs, ETFs, EFPs, currencies, fixed income, warrants and funds.

Our score for Eightcap is 9, and for Interactive Brokers, it is 9.1 (based on our research; a score above 8 is considered safe and trustworthy). If you are seeking a social trading platform where you can copy other successful traders and have a one-stop solution for various types of trading, you may choose Eightcap. However, if you prefer online forex and CFD brokers, you may choose Interactive Brokers.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

Fact Checked by
Ryan Hardy is a Content Writer, Researcher, and Fact Checker at Brokersway. Specializing in forex trading, he focuses on ensuring accuracy in information related to broker regulations, scams, and safety measures. With a commitment to transparency, Ryan plays a vital role in providing traders with reliable insights into the world  of forex brokers
Edited by

Richard Walz, a seasoned content writer and broker’s research specialist, is your go-to authority for decoding online forex brokers and trading platforms. As an editor, he ensures precision and clarity, offering traders valuable insights on Brokersway, a trusted resource for informed decision-making in the dynamic world of currency trading. Richard's role as an editor ensures that the information presented is not only accurate but also presented in a manner that resonates with traders seeking clarity in making better decision.

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