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Eightcap vs TopFX 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Eightcap and TopFX? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, Eightcap ranks more highly than TopFX.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingEightcapTopFXXTB
Overall Rating7.2 / 106.5 / 108.7 / 10
Account TypeEightcapTopFXXTB
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountNoYesYes
Copy TradingEightcapTopFXXTB
Social Trading / Copy TradingYesYesYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyEightcapTopFXXTB
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)EightcapTopFXXTB
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)EightcapTopFXXTB
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsEightcapTopFXXTB
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoNo
Social Trading / Copy TradingYesYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsNoNoYes
ETFNoYesNo
U.S. Stocks (CFD)YesYesYes
Trading PlatformsEightcapTopFXXTB
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformNoNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesNoNo
Regulatory LicensesEightcapTopFXXTB
Tier-1 Licenses201
ASIC Authorised (Australia)YesNoNo
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)YesNoYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoNoNo
Tier-2 Licenses113
Tier-3 Licenses101
Research, EducationEightcapTopFXXTB
Trading Central (Recognia)NoYesNo
Forex News (Top-Tier Sources)NoYesYes
Daily Market CommentaryYesNoYes
AutochartistNoYesNo
Investor Dictionary (Glossary)YesNoNo
Videos - Beginner Trading VideosYesNoYes
Client Webinars (Archived)YesNoYes
Trading CostsEightcapTopFXXTB
Minimum Initial Deposit$100Depends on payment method$0
Average Spread EUR/USD - StandardN/AN/A1.07 (Q3 2022)
All-in Cost EUR/USD - Active0.76N/A1.04 (Q3 2022)
Active Trader or VIP DiscountsNoNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesYesYes
Trading ToolsEightcapTopFXXTB
Watchlists - Total Fields778
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)303039
Mobile Charting - Indicators / Studies303039
Trust FactorsEightcapTopFXXTB
Year Founded200920102002
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionYesNoYes
Trust Score876795
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Eightcap vs TopFX Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Eightcap vs TopFX.

Can I trust Eightcap?

Eightcap has a trust score of 87, giving it a "Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust TopFX?

TopFX has a trust score of 67, giving it a "High Risk" trust label.

Is Eightcap a good broker?

Eightcap is an up and coming broker that boasts a large range of cryptocurrency CFDs, alongside several MetaTrader plugins and related tools. That said, it's offering is otherwise limited in terms of the number of symbols you can trade, and the scope of its educational and reserach materials available could stand to improve.

Is TopFX a good broker?

TopFX lags behind the industry average when it comes to market research and education, yet offers a growing selection of markets that you can trade on the MetaTrader and cTrader platforms.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. Eightcap is ASIC Authorised (Australia) and FCA Authorised (U.K.), while TopFX is none., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, both Eightcap and TopFX are CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses Eightcap is VFSC Authorised (Vanuatu), while TopFX is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands) and FSC Authorised (Mauritius).

Which broker offers more trading platforms?

For trading platforms Eightcap supports a Desktop Platform (Windows), whereas TopFX supports a Desktop Platform (Windows) and cTrader., neither have Proprietary Platform, DupliTrade and ZuluTrade

Does Eightcap offer MetaTrader? Does TopFX offer MetaTrader?

For MetaTrader Eightcap provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while TopFX provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do Eightcap and TopFX differ in terms of minimum deposit? What about average spreads and funding options?

Eightcap requires a minimum deposit of $100, while TopFX requires a minimum deposit of Depends on payment method. From our testing we found Eightcap offers spreads of N/A, while TopFX offers spreads of N/A. Both Eightcap and TopFX offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for deposits.

Which brokers offers more tradeable asset classes, Eightcap or TopFX?

Eightcap offers a more diverse selection of investment options than TopFX allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD)., neither have Spread Betting and Agriculturals Looking at total tradeable symbols, Eightcap has 326, compared to 655 from TopFX.

Can I trade cryptocurrency with Eightcap or TopFX?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither Eightcap nor TopFX allow you to trade physical cryptocurrencies.

Who offers more research tools, Eightcap or TopFX?

In terms of research and research tools Eightcap gives traders the following tools: Daily Market Commentary and Social Trading / Copy Trading. In comparison TopFX has the tools listed here: Autochartist, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading., neither have Stock Charts

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