If you are reading this article, you’re likely having trouble deciding whether Eightcap or Alpari is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.
In this Eightcap versus Alpari review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- Alpari vs Eightcap - Verdict
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Headquarters | Saint Vincent and the Grenadines | Australia |
Regulators | MWALI International Services Authority | ASIC, CySEC, FCA, SCB |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 1998 | 2009 |
Execution Type(s) | ECN/STP, Market Maker | ECN/STP, Market Maker |
Minimum Deposit | $500 | $100 |
Negative Balance Protection | ||
Trading Platform(s) | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5, Trading View |
Average Trading Cost EUR/USD | 1.1 pips ($11.00) | 1.0 pips |
Average Trading Cost GBP/USD | 1.2 pips ($12.00) | 1.2 pips |
Average Trading Cost WTI Crude Oil | $0.06 | $0.03 |
Average Trading Cost Gold | $0.27 | $0.12 |
Retail Loss Rate | Undisclosed | N/A |
Minimum Raw Spreads | 0.0 pips | N/A |
Minimum Standard Spreads | 0.8 pips | N/A |
Minimum Commission for Forex | $1.60 per 1.0 standard round lot | $7.00 per Round Lot |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Visit Website | Visit Website |
Features and Platforms
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MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | N/A | |
cTrader | ||
Proprietary Platform | ||
Automated Trading | N/A | |
Social/Copy Trading | N/A | |
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Visit Website | Visit Website |
Eightcap presents clients with the out-of-the-box MT4/MT5 trading platforms, upgraded with the Amazing Trader plugin. The latest addition of Capitalise AI offers a competitive edge, presently only available at four other brokers, and Eightcap connects accounts to the active TradingView community. Complementing it is excellent trade execution, ideal for automated trading solutions, in-house research, and education. Alpari offers the core MT4/MT5 but additionally deploys Alpari CopyTrade and more trading account choices. Active traders will benefit from the Alpari Cashback program and one of the best commission-based pricing environments.
Available Markets
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Currency Pairs | N/A | |
Cryptocurrencies | N/A | |
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | N/A | |
ETFs | ||
Options | N/A | |
Futures | ||
Synthetics | ||
| Visit Website | Visit Website |
Australian-based Eightcap maintains a choice of over 800 assets, including 55 currency pairs and 122 cryptocurrency pairs CFDs, making it one of the market leaders in this sector. Forex traders at Mauritius-based Alpari get 60 currency pairs, four cryptocurrency pairs, eight commodities, 22 index CFDs, and ten equity CFDs. Alpari notes direct stock trading on instruments listed on the New York Stock Exchange (NYSE) and the NASDAQ stock market. The homepage lists 250+ assets available for trading. Forex traders have more currency pairs at Alpari, while equity and cryptocurrency traders get more choices at Eightcap.
Typical Spreads and Fees
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Average Trading Cost EUR/USD | 1.1 pips ($11.00) | 1.0 pips |
Average Trading Cost GBP/USD | 1.2 pips ($12.00) | 1.2 pips |
Average Trading Cost WTI Crude Oil | $0.06 | $0.03 |
Average Trading Cost Gold | $0.27 | $0.12 |
Average Trading Cost Bitcoin | $56.50 | $12 |
Minimum Raw Spreads | 0.0 pips | N/A |
Minimum Standard Spreads | 0.8 pips | N/A |
Minimum Commission for Forex | $1.60 per 1.0 standard round lot | $7.00 per Round Lot |
Withdrawal Fee | N/A | |
Inactivity Fee | N/A | No |
| Visit Website | Visit Website |
The commission-free cost structure at Eightcap begins with a minimum spread of 1.0 pips or $10 per 1.0 standard lot. Alpari is more expensive at 1.2 pips or $12, so Eightcap clearly comes out ahead here. Eightcap and Alpari also maintain a commission-based alternative. The former grants raw spreads of 0.0 pips for a fee of $7 per round lot. The latter counters with 0.4 pips and $3.00, for a total of $7. It also maintains a volume-based rebate program, giving an edge to active traders. Swap rates on leveraged overnight trades and third-party withdrawal costs apply at both.
Security and Trust
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Country of the Regulator | Mauritius, Malawi | Australia, The Bahamas, Cyprus, United Kingdom |
Name of the Regulator | MWALI International Services Authority | ASIC, CySEC, FCA, SCB |
Regulatory License Number | C113012295, T2023236 | 391441, 40377, 246/14, 921296 |
Regulatory Tier | 4, 5 | N/A |
| Visit Website | Visit Website |
The primary regulator of Eightcap is the Australian Securities & Investments Commission (ASIC). Additionally, Eightcap has regulatory oversight from the FCA in the UK, the CySEC in Cyprus, and the SBC in the Bahamas. Most international traders will deal with the unregulated but duly registered subsidiary in St. Vincent and the Grenadines. Alpari holds a license from the Mauritius Financial Services Commission (FSC)s. It is also a member of the Hong Kong-based Financial Commission, providing traders with an independent, international external dispute resolution (EDR) mechanism and an investor compensation fund of up to €20,000 per case. There is no doubt that Eightcap maintains a superior regulatory position.
Alpari vs Eightcap – Verdict
Eightcap continues to work on its trading conditions, and the addition of Capitalise AI provides a competitive edge only available at four other brokers. It offers traders a swift solution to automatize trading strategies using natural language and no coding. The core MT4/MT5 trading platforms are available and upgraded via the Amazing Trader plugin, and Eightcap connects to the active TradingView community. The order execution supports automated traders, the cost structure remains competitive, and quality in-house research exists alongside educational content. Alpari maintains a transparent trading environment, with Forex trading from the out-of-the-box MT4/MT5 trading platforms at its core. Active traders will benefit from the volume-based cashback program, while the commission-based trading costs remain the same as Eightcap. Overall, Eightcap is likely to be the superior choice for most traders.
You might also be interested in reviewing the below broker comparisons:
- Alpari vs Oanda
- Alpari vs FXTM
- Alpari vs FXCM
- Eightcap vs PurpleTrading
- Eightcap vs Avatrade
- Eightcap vs IC Markets
Eightcap only lists 29 currency pairs, complemented by 150+ CFDs. Alpari shows 60 currency pairs and notes 250+ assets, of which less than 100 remain in the contract specifications.
