Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

Darwinex
7.9 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT DARWINEX
Eightcap
8.2 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT EIGHTCAP
eToro
8.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT ETORO
About

Darwinex is regulated by the Financial Conduct Authority. Darwinex have provided Forex, Spread betting trading services since 2012.

Eightcap is regulated by ASIC. Eightcap have provided Forex, Spread betting, CFD, Indices trading services since 2015.

eToro is regulated by CySEC. eToro have provided Forex trading services since 2006. 66% of retail CFD accounts lose money

Why choose them?
  • Yes Over 6 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 3 years in business
  • Yes Segregates clients funds
  • Yes Regulated by ASIC
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC, ASIC
Headquarters London, UK Melbourne, Australia Limassol, Cyprus

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No Yes Yes
CFD No Yes Yes
Spread Betting Yes No No
Social Trading Yes No Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 40 42 47
Commodities Offered 0 6
Stocks Offered 0 957
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No No Yes
Penny stocks No No No
Energies No Yes Yes
Metals Yes Yes Yes
Agriculturals No No Yes
FTSE Yes Yes Yes
Dow Jones No Yes No
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs No No Yes
IPO No No No
See all instruments

73% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

Losses can exceed deposits

See all instruments

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes No
MT5 No No No
MT4 Mac No No No
WebTrader Yes No No
Mirror Trader No No No
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM Yes No No
Custom Platforms Social Trading No CopyTrader

APPS

iOS image No Yes Yes
Android image Yes Yes Yes
Windows image No Yes No
Available Languages

English, Spanish, Chinese, and French

English and Chinese

English, German, Spanish, French, and Italian

See platform & features

73% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

Losses can exceed deposits

See platform & features

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Darwinex and Eightcap

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No No Yes
Standard account Yes Yes Yes
ECN Account No Yes No
Islamic account No No Yes
Zero spread account No Yes No
VIP account No No Yes
Fixed spreads No No Yes
Variable spreads Yes Yes No
See account options

73% of retail investor accounts lose money when trading CFDs with this provider

See account options

Losses can exceed deposits

See account options

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

TRADING CONDITIONS

Scalping Yes Yes No
Hedging Yes Yes No
Expert advisors (EAs) Yes Yes No
Virtual private server Yes No No
Direct market access Yes Yes No
STP broker Yes Yes Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.01 Lot $25
Max trade None None 20% of equity
Min deposit $500 $100 $200

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading No No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller No No Yes
Skrill No No Yes
Payment processing time 1-3 business days 1 business day Varies
Withdrawal processing time 1-3 business days 1-5 business days Varies
See all funding options

73% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

Losses can exceed deposits

See all funding options

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

DETAILED INFO

Excluded countries US US IR, KP, BE, CA, JP, SY, TR, IL
Contact email Send Email Send Email Send Email
Phone number 44 20 7193 1232 61 3 8373 4800 44-866-350-0881
Live Chat Yes Yes Yes
Website https://www.darwinex.com http://www.eightcap.com/ www.etoro.com
Spreads:
EUR/USD (Average: 0.7 pips) Not offered Not offered 3.0 pips
GBP/USD (Average: 1.1 pips) Not offered Not offered 4.0 pips
USD/JPY (Average: 1.1 pips) Not offered Not offered 2.0 pips
AUD/USD (Average: 0.8 pips) Not offered Not offered 1.0 pips
USD/CHF (Average: 2.3 pips) Not offered Not offered 3.0 pips
USD/CAD (Average: 2.9 pips) Not offered Not offered 3.0 pips
NZD/USD (Average: 3.6 pips) Not offered Not offered 5.0 pips
EUR/GBP (Average: 2.4 pips) Not offered Not offered 4.0 pips
View all spreads

73% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

Losses can exceed deposits

View all spreads

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

FEES

Inactivity Fee No No Yes
Commission Yes Yes No
Deposit Fee No Yes No
Withdrawal Fee Yes Yes Yes
View All Fees

73% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

Losses can exceed deposits

View All Fees

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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Last update

All information collected from https://www.darwinex.com. Last updated on 01/10/2019.

All information collected from http://www.eightcap.com/. Last updated on 01/10/2019.

All information collected from www.etoro.com. Last updated on 01/10/2019.

Company

Darwinex is an online forex trading service provider who are regulated by the Financial Conduct Authority. To open an account with Darwinex, minimum deposits start from $/£500.

With Darwinex you can trade Forex, indices, and commodities. If you like to trade on the go, Darwinex have iPhone and Android apps so you can trade from anywhere on your phone.

Darwinex offer MT4, MT4 mobile, MT4 iOS and MT4 Android platforms to make your trades and support 3 different languages.

They also offer traders free educational material to better understand the markets and trading strategies.

The spreads offered by Darwinex for the most popular instruments are:
0.38 EUR/USD, 0.8 FTSE 100, 0.12 GOLD,
0.43 GBP/USD, n/a DOW/JONES, n/a Crude Oil,
see all the spreads here.

Eightcap is an online forex trading service provider who are regulated by the ASIC. To open an account with Eightcap, minimum deposits start from $100.

With Eightcap you can trade Currencies, indices, metals, and oil. If you like to trade on the go, Eightcap have iPhone appAndroid app so you can trade from anywhere on your phone.

Eightcap offer MetaTrader 4, Myfxbook AutoTrade platforms to make your trades and support 25 different languages.

They also offer traders free educational material to better understand the markets and trading strategies.

The spreads offered by Eightcap for the most popular instruments are:
0.2 EUR/USD, 1.0 FTSE 100, 0.01 GOLD,
0.4 GBP/USD, 1.0 DOW/JONES, 0.10 Crude Oil,
see all the spreads here.

Founded in 2006 and based out of Tel-Aviv, eToro enables traders to follow various sectors including nearly two hundred and fifty different stocks. CFD and currency trades are likewise a possibility. As of this year, eToro boasts more than six million members worldwide.

For more information about trading with eToro, we have put together an indepth eToro review with all the pros and cons about this broker.

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Darwinex or Eightcap?

Regulated by Financial Conduct Authority or ECN execution?

If you want a broker with ECN execution, Eightcap may be more appropriate. Darwinex and Eightcap offer similar trading methods.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider Darwinex and Eightcap to be equally reliable. We’ve broken down why below:

Who are they regulated by?

Darwinex is regulated by Financial Conduct Authority, while Eightcap is regulated by ASIC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, Darwinex will have very strict guidelines to follow to ensure they protect their retail trader clients.

eToro are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Darwinex has been around for 7 years, while Eightcap have been around for 4 years. Our third alternative broker, eToro, have been around for 13 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Darwinex does not use tier one banks as their banking partner. Eightcap uses tier one banks as their banking partner.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on Darwinex or Eightcap in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both Darwinex and Eightcap are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Darwinex are based in London, UK, while Eightcap are based in Melbourne, Australia .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Darwinex and Eightcap offer forex trading. Eightcap have a slightly larger variety of currency pairs with 42 pairs, compared to 40 offered by Darwinex. Also, if you’re looking to trade cryptocurrencies,

If you’re looking to trade commodities like gold, silver or oil, Darwinex may be a better fit as Eightcap does not offer commodity trading.

Darwinex also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both Darwinex and Eightcap offer this.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. eToro, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Darwinex does allow scalping and hedging. While Eightcap also allows scalping and hedging. You can trade with EAs (expert advisors) on both Darwinex and Eightcap.

In terms of risk management tools, neither Darwinex or Eightcap offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

Darwinex also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

Darwinex accept Payoneer while Eightcap accept Payoneer.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Darwinex charges 0.20 points, while Eightcap charges 0.00 points. Therefore, Eightcap is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Darwinex or Eightcap?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Eightcap is more reliable based on our criteria above. Eightcap has a wider range of instruments to trade. Eightcap offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.