ThinkMarkets vs. Eightcap [year]
Eightcap and ThinkMarkets Comparison: Which Broker Should You Choose?
ThinkMarkets and Eightcap are leading global Forex brokers, but which one should you trust with your Forex portfolio?
I have conducted an in-depth review of Eightcap vs. ThinkMarkets to determine which presents the better overall choice and which will benefit different types of traders the most.
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Headquarters | Australia | Australia |
Regulators | ASIC, CySEC, FCA, FSA, FSCA, JFSA | ASIC, CySEC, FCA, SCB |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2010 | 2009 |
Execution Type(s) | ECN/STP, Market Maker | ECN/STP, Market Maker |
Minimum Deposit | None | $100 |
Negative Balance Protection | N/A | |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, Trading View |
Average Trading Cost EUR/USD | 0.1 pips ($1.00) | 1.0 pips |
Average Trading Cost GBP/USD | 0.2 pips ($2.00) | 1.2 pips |
Average Trading Cost WTI Crude Oil | $0.03 | $0.03 |
Average Trading Cost Gold | N/A | $0.12 |
Minimum Commission for Forex | N/A | $7.00 per Round Lot |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Get Started | Get Started |
A Snapshot of the Most Notable Advantages of ThinkMarkets
- MT4 and MT5 platforms for algorithmic and copy trading.
- Proprietary ThinkTrader with TradingView charts.
- In-house copy trading service ThinkCopy.
- FCA-regulated analytical tool Signal Centre, which delivers up to 40 human and AI-based trading signals daily.
- 450K+ accounts.
- VPS hosting for 24/5 low-latency algorithmic trading.
- Balanced asset selection of 4,000+ CFDs covering seven sectors.
A Snapshot of the Most Notable Advantages of Eightcap
- Capitalise AI for algorithmic trading in a code-free environment in MT4.
- MT5 FlashTrader plugin
- TradingView for social traders, where 50M+ traders interact.
- AI-powered economic calendar for news traders.
- Quality beginner research and education via Eightcap Labs and Eightcap Trade Zone.
- VPS hosting.
- Balanced asset selection
- Quality trading infrastructure and liquidity.
Features & Platforms
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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 | ||
| Get Started | Get Started |
Available Markets
| | |
Currency Pairs | N/A | |
Cryptocurrencies | N/A | |
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks | N/A | |
Stocks (non-CFDs) | ||
Bonds | N/A | |
ETFs | ||
Options | N/A | |
Futures | ||
Synthetics | ||
| Get Started | Get Started |
ThinkMarkets has more available markets and more overall trading instruments than Eightcap, but here is why Eightcap is a better choice for most traders:
- Highly liquid assets ideal for scalpers and algorithmic traders.
- Better choice of cryptocurrency CFDs, including tokens.
- Good choice of popular assets for copy and social traders.
- Premium liquidity providers
Typical Spreads & Fees
| | |
Average Trading Cost EUR/USD | 0.1 pips ($1.00) | 1.0 pips |
Average Trading Cost GBP/USD | 0.2 pips ($2.00) | 1.2 pips |
Average Trading Cost WTI Crude Oil | $0.03 | $0.03 |
Average Trading Cost Gold | N/A | $0.12 |
Average Trading Cost Bitcoin | $15.10 | $12 |
Minimum Commission for Forex | N/A | $7.00 per Round Lot |
Withdrawal Fee | N/A | |
Inactivity Fee | N/A | No |
| Get Started | Get Started |
Traders can opt between more expensive commission-free cost structures and cheaper commission-based alternatives, but which has lower fees?
Both brokers have identical minimum fees in their commission-based accounts, but ThinkMarkets has higher average spreads, making Eightcap cheaper. The same applies to the commission-based fees.
Account Types
ThinkMarkets does not have a minimum deposit requirement for its commission-free account but requires $500 for its better-priced commission-based alternative. Eightcap has a $100 minimum deposit requirement for all account types.
Are there any other noteworthy differences in the account structure between Eightcap vs. ThinkMarkets?
What Stands Out the Most
- ThinkMarkets has an expensive mini account.
- ThinkMarkets allows in-house copy trading.
- Eightcap connects social traders to TradingView.
How Difficult Is It to Deposit at Eightcap vs. Thinkmarkets?
There are no deposit fees at Think Markets or Eightcap, and both brokers have a quality selection of payment processors, including cryptocurrency deposits. While ThinkMarkets has no minimum deposit requirement for its commission-based account, Eightcap is more accessible in its low-cost commission-based alternative, granting it an overall edge.
Which Withdrawal Process Is Better: Thinkmarkets or Eightcap?
Both brokers have a $100 minimum withdrawal amount, which is higher than many competitors', especially for e-wallet transactions. Both brokers' internal processing times are reasonable. Eightcap does not charge for bank wires, while ThinkMarkets levies a $25 fee for international transactions.
ThinkMarkets also restricts some e-wallet withdrawals to $10,000 and prefers bank wires, making Eightcap the better broker in this category.
Security & Trust
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Country of the Regulator | United Arab Emirates, Australia, Cyprus, Japan, New Zealand, Seychelles, United Kingdom, South Africa | Australia, The Bahamas, Cyprus, United Kingdom |
Name of the Regulator | ASIC, CySEC, FCA, FSA, FSCA, JFSA | ASIC, CySEC, FCA, SCB |
Regulatory License Number | 629628, 215/13, 424700, SD060, 0250, 49835, F004173, 623289 | 391441, 40377, 246/14, 921296 |
Regulatory Tier | 1, 1, 1, 4, 1, 2, 2, 1 | N/A |
| Get Started | Get Started |
Which Broker Is More Secure and Trustworthy?
While ThinkMarkets has more regulatory licenses, Eightcap has more operational experience. Client segregation of corporate funds, negative balance protection, and automatic stop-out levels apply at ThinkMarkets and Eightcap, which have spotless track records. Therefore, I rank both brokers on par in terms of security and trust.
My Verdict
ThinkMarkets has a superior asset selection, but Eightcap is the better choice due to its cutting-edge trading tools, deep liquidity, and lower average trading fees.
FAQs
Is ThinkMarkets cheaper than Eightcap?
ThinkMarkets is cheaper than Eightcap on paper, but Eightcap delivers cheaper average trading fees.
What is the difference between Eightcap and ThinkMarkets?
Trading fees and tools are the primary differences between Eightcap vs. ThinkMarkets, where the former takes the lead.
Which is safer, ThinkMarkets or Eightcap?
Both brokers present traders with an equally safe trading environment.
Who are ThinkMarkets competitors?
Five primary ThinkMarkets competitors are Eightcap, IC Markets, Pepperstone, Robo Forex, and Exness.
Is ThinkMarkets a good broker?
Think Markets is an excellent choice and shines with its proprietary trading platform for manual traders and its in-house copy trading service.
Is Eightcap a trusted broker?
Eightcap ranks among the most trusted brokers. It is compliant with four regulators and has an excellent track record spanning almost 15 years.
Which one is better: ThinkMarkets or Eightcap?
While both brokers maintain highly competitive trading environments, Eightcap is the better choice due to lower average trading fees, superior trading tools, and better accessibility via a lower minimum deposit requirement.