Here’s a detailed broker comparison between SpreadEx vs EightCap across 11 different criteria. Let’s get to it!
SpreadEx vs EightCap Comparison
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| SpreadEx VS EightCap | 
First | 
Second | |
|---|---|---|---|
| Regulation | ASIC, FCA, SCB, CySEC, Bahamas (SCB) | FCA | |
| Number of Instruments | 250+ | 1000+ | |
| MT4 | |||
| MT5 | |||
| cTrader | |||
| Proprietary Platform | |||
| TradingView Integration | |||
| Commission (Forex) | £3.5 per lot (Raw Account) | None | |
| Spreads | From 0.0 pips (Raw) | From 0.6 pips (Spread Betting) | |
| Free VPS Access | |||
| Islamic Accounts | |||
| Customer Service | 24/5, multilingual | 24/5, multilingual | |
| Education | Comprehensive | Moderate | |
| Copy Trading | |||
| Deposit Requirements | $100 | $1 | |
| Join EightCap | Join SpreadEx |
Broker Comparison Criteria Breakdown
1. Trading Instruments
Winner: SpreadEx (for broader instrument variety).
SpreadEx: Offers a diverse range of financial instruments including forex, commodities, indices, shares, ETFs, cryptocurrencies, and even bonds. It’s also one of the few brokers to offer spread betting alongside CFDs, which is a unique selling point, especially for UK-based traders.
EightCap: Provides access to forex, commodities, indices, shares, and cryptocurrencies, but it lacks the spread betting option that SpreadEx offers. Overall, EightCap provides competitive access to global markets, especially through CFDs.
2. Account Types
Winner: EightCap (due to greater flexibility and variety).
SpreadEx: Primarily focuses on standard accounts for both CFDs and spread betting. It lacks specific account types such as Islamic or Raw Spread accounts. It doesn’t offer demo accounts.
EightCap: Offers Standard and Raw Spread accounts. The Raw Spread account is designed for low-cost trading, featuring spreads from 0.0 pips but with a small commission. EightCap also offers Islamic accounts and demo accounts for practice.
3. Spreads and Commissions
Winner: EightCap (for tighter spreads and competitive commission structure).
SpreadEx: Has variable spreads that are slightly wider than other major brokers. While it doesn’t charge commissions, the spreads might not be as tight as competitors.
EightCap: Known for low raw spreads, starting from 0.0 pips on major forex pairs with a $7 per lot commission on its Raw account. The Standard account has no commission but wider spreads.
4. Platforms
Winner: EightCap (due to offering global platforms like MT4 and MT5).
SpreadEx: Provides its proprietary trading platform, primarily for spread betting and CFDs. It’s easy to use but lacks the advanced trading features offered by global trading platforms.
EightCap: Supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView, which are industry-standard platforms that offer advanced charting, automation, and custom indicators.
5. Automated Trading and Copy Trading
Winner: EightCap (better for automated and copy trading).
SpreadEx: Lacks built-in support for automated trading or copy trading features. It’s focused more on manual trading and doesn’t cater to algorithmic traders.
EightCap: Offers full support for Expert Advisors (EAs) on MT4 and MT5, enabling automated trading strategies. It also provides integration with copy trading services such as Zulutrade, making it more accessible to traders interested in following other professional traders.
6. Execution Speed
Winner: EightCap (better execution model).
SpreadEx: Works as a market maker, meaning there might be slightly slower execution compared to ECN brokers.
EightCap: Provides an ECN-like environment with fast execution speeds, thanks to its no-dealing-desk approach, which helps minimize slippage and re-quotes.
7. Educational Resources
Winner: EightCap (better educational support).
SpreadEx: Does not have a well-established educational section for beginners or advanced traders.
EightCap: Offers a solid range of educational content, including webinars, tutorials, and articles aimed at improving trader knowledge.
8. Customer Support
Winner: Draw (both offer similar customer service).
SpreadEx: Provides 24/5 customer support, accessible through live chat, phone, and email, but is mainly focused on UK customers.
EightCap: Also offers 24/5 multilingual support, ensuring accessibility for a wider global audience.
9. Deposit and Withdrawal
Winner: EightCap (for wider deposit options).
SpreadEx: Has no minimum deposit requirements and does not charge fees for deposits or withdrawals. However, it doesn’t offer as many global payment methods compared to larger brokers.
EightCap: Requires a minimum deposit of $100 and offers a broader range of deposit methods, including bank transfers, credit cards, and e-wallets. There are no fees for deposits or withdrawals.
10. Regulation
Winner: Draw (both have robust regulation).
SpreadEx: Regulated by the FCA (Financial Conduct Authority) in the UK, ensuring it meets stringent regulatory requirements.
EightCap: Regulated by ASIC in Australia and FCA in the UK, providing strong oversight for global traders.
11. VPS Access and Automated Trading
Winner: EightCap (supports VPS for automation).
SpreadEx: Does not offer direct VPS access for automated trading.
EightCap: Provides VPS access for automated trading strategies on MT4/MT5, which is beneficial for traders using Expert Advisors (EAs).
Verdict: Which is Better SpreadEx or EightCap?
EightCap is the clear winner for traders looking for flexibility, automated trading, and competitive pricing, especially for those who value low spreads and fast execution on MT4/MT5. It also offers more comprehensive educational resources and greater platform diversity, making it suitable for both beginners and experienced traders.
SpreadEx, on the other hand, is a solid option for UK-based traders who prefer spread betting over CFDs and want an easy-to-use proprietary platform. However, it lacks the automation features and global reach that EightCap provides.
Recommendation: EightCap is better suited for traders looking for advanced trading features, while SpreadEx might be ideal for those focused on manual trading within the UK spread betting environment.
James is a former FTSE100 AI Director and trader with 10+ years trading his own capital. He is the Managing Director of SpreadBet.AI and currently trades his own capital through both CFD trading & spread betting as well as working with one of the leading prop firms in the world.
