This Eightcap vs Admiral’s forex broker comparison found that while Admirals has more products and a better standard account, Eigthcap offers more forex pairs (46) and cryptos (250) and STP spreads from 0.0 pips.
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Eightcap and Admirals (formerly Admiral Markets) are two excellent CFD forex brokers you can choose to trade with. In this Admirals vs Eightcap review, we look at how the broker’s main features and how they compare.
The two main types of accounts you will face are a standard account (with no-commissions) and an STP-style ‘raw’/ECN account.
On the standard account, the only fees you face are the bid-ask spread. This represents the difference between the price you can buy a CFD and the price you can sell it at.
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Standard Account Spreads
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1.12 | 1.22 | 1.40 | 1.69 | 1.47 |
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1.13 | 1.01 | 1.71 | 1.66 | 1.12 |
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1.20 | 0.90 | 1.50 | 1.80 | 1.80 |
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1.20 | 1.40 | 1.50 | 1.60 | 1.50 |
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1.10 | 1.20 | 1.40 | 1.50 | 1.20 |
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1.10 | 1.30 | 1.30 | 1.30 | 1.30 |
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1.20 | 1.80 | 1.90 | 1.90 | 1.60 |
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1.32 | 1.95 | 1.37 | 1.70 | 1.40 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
Here we can see Admirals’ average spreads are clearly superior compared to Eightcap. Minimum spreads with Admirals start from 0.5 pips while Eightcap’s spreads start from 1.0 pips.
The other thing to note is Admirals have a minimum deposit of AUD/USD/EUR/GBP of $100. Eightcap’s minimum deposit varies for the standard account depending if you are in Australia or outside. Eightcap recommends a minimum deposit of $500 in Australia and $100 outside Australia, this is just a recommendation and not enforced.
When it comes to the standard account spreads, there’s a noticeable difference between the two forex brokers, Eightcap and Admiral Markets. Eightcap has a consistent spread across most forex pairs, with a slight increase for AUD/JPY. On the other hand, Admiral Markets shows more variation, with the lowest spread for EUR/USD and the highest for AUD/JPY.
In my analysis, Admiral Markets seems to be the cheaper option for most of the forex pairs, except for AUD/JPY. However, it’s important to note that the cheapest option doesn’t always mean the best. Other factors such as customer service, trading platforms, and overall trading experience should also be considered.
| Forex Pair | Eightcap | Admiral Markets | Industry Average |
|---|---|---|---|
| EUR/USD | 1 | 0.6 | 1.18 |
| USD/JPY | 1.1 | 1 | 1.37 |
| GBP/USD | 1 | 1 | 1.51 |
| AUD/USD | 1.2 | 1 | 1.41 |
| USD/CAD | 1 | 1.6 | 1.70 |
| EUR/GBP | 1 | 1 | 1.56 |
| EUR/JPY | 1.2 | 1.5 | 1.85 |
| AUD/JPY | 1.9 | 2.2 | 2.09 |
Standard Account Analysis Updated September 2023[1]September 2023 Published And Tested Data
Comparing these brokers to the industry average, both Eightcap and Admiral Markets offer competitive spreads. In fact, they both offer lower spreads than the industry average for most forex pairs. This is a positive sign, indicating that both brokers are competitive in the forex market. However, as traders, we should always be mindful of the overall trading costs, not just the spreads.
Remember, the lower the spread, the less the cost to trade. But don’t let low spreads blind you to other important factors. Always consider the overall trading conditions and choose the broker that best suits your trading style and needs.
Meanwhile, the STP-style account charges commission fees, however, spreads are ‘raw’, or at market price.
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ECN Broker Spreads
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0.23 | 0.20 | 0.06 | 0.42 | 0.27 |
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0.14 | 0.25 | 0.02 | 0.27 | 0.17 |
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0.20 | 0.30 | 0.10 | 0.30 | 0.20 |
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0.47 | 0.50 | 0.12 | 0.40 | 0.22 |
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0.20 | 0.30 | 0.20 | 0.40 | 0.20 |
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0.30 | N/A | 0.30 | 0.50 | 0.40 |
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0.24 | N/A | 0.17 | 0.54 | 0.30 |
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0.30 | 0.70 | 0.20 | 0.50 | 0.40 |
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0.30 | 1.10 | 0.10 | 0.60 | 0.50 |
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0.77 | 1.41 | 0.44 | 1.13 | 1.23 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
View Admirals ReviewVisit Admirals
While both brokers offer spreads as low as 0.0 pips, as can be seen in this chart, Eightcap’s spreads tend to be superior on average.
The other thing to consider when using a ‘no dealing desk’ style account is the commission costs. Eightcap has a flat commission of $7 AUD cost round-turn for a standard lot of 100k. If your chosen base currency is not AUD or USD, you will pay the equivalent of $7 USD (converted to your account currency).
The “Zero” STP-style account offered by Admirals also has a minimum spread of 0 pips. Commission starts at $8 AUD or $6 USD round-turn per standard lot, but they fall as your trade size increases to a minimum of $5 AUD or $3.6 USD.
While very evenly matched on the standard account, we choose to give Eightcap the win for a cheaper STP-style account. This is because Admirals’ base commission fees are higher, and to reach the cheaper commission fees, you need to trade in excess of $50 million USD per month, unfeasible for most people and nigh-on impossible for beginner traders.
View Admirals ReviewVisit Admirals
Both Eightcap and Admirals offer traditional methods of payment as well as the use of eWallets.
You can fund your Admirals account with a bank transfer, Visa/Mastercard debit cards or credit cards, as well as the Neteller and Skrill eWallets. There is no minimum deposit required.
Eightcap offers the above methods of payment as well but also goes beyond that with some alternative deposit methods. In Australia, you can use POLi or BPay, and PayPal is available for all traders to use. Uniquely, Eightcap even allows you to deposit funds via cryptocurrencies like Bitcoin, Tether and Ethereum, although this is only possible outside of Australia.
Here, we list the regulatory licences held by Eightcap and Admirals to help you determine whether you will be safe when trading.
Eightcap has one top-tier and one second-tier regulatory licence.
Their top-tier licence is with the Australian Securities and Investments Commission (ASIC), meaning that if you are trading in Australia, Eightcap is a safe option.
Their second-tier licence is with the Securities Commission of the Bahamas (SCB), giving them regulatory coverage across the world.
In comparison, Admirals has three top-tier licences and one second-tier licence. Their top-tier licences are:
– ASIC, in Australia.
– The Financial Conduct Authority (FCA), in the UK
– The Cyprus Securities and Exchange Commission (CySEC), in Cyprus (and also Europe).
Admirals’ second-tier licence is with the Financial Services Authority (FSA) in Seychelles.
The best way for you to stay safe when trading is to use a broker regulated in the country you’re trading from.
Australian traders will be safe with both Eightcap and Admirals, however, if you are trading from the UK or EU, we recommend Admirals as this will make sure you are adequately regulated by a local agency.
We explore the trading platforms offered by both Eightcap and Admirals, alongside the additional trading tools provided by the brokers.
The most popular forex trading platforms are MetaTrader 4 and MetaTrader 5, or MT4/MT5 respectively.
Both Eightcap and Admirals give you access to the base offerings of the two platforms.
In terms of other CFD trading platforms, Admirals only offers you a proprietary mobile trading app (android/iOS), allowing you to trade CFDs on the go.
Trading tools offered by Admirals include StereoTrader, and ‘MetaTrader Supreme Edition’. In essence, these are information panels added onto the base MetaTrader platform, giving you tools like one-touch trading, indicator trackers, and sentiment analysis.
Eightcap has a wider range of extra CFD platforms. TradingView provides you with top-notch charting capability, and the Capitalise.ai platform allows you to utilise algorithmic trading bots completely code-free. This makes Eightcap a great choice if you are an avid chart trader or a beginner in the forex markets.
The tools offered by Eightcap include AmazingTrader and Cryptocrusher. AmazingTrader is a MetaTrader add-on that helps risk-manage your trades for you. Cryptocrusher on the other hand generates trading strategies for different cryptocurrencies for you and represents a great add-on to Eightcap’s strong crypto offering.
Overall, Eightcap provides you with both a wider range of trading platforms and a stronger set of trading tools that will help you trade better. As a result, we determine that Eightcap is our platform winner.
Both Eightcap and Admirals offer you a wide range of trading products, with forex CFDs, stocks and ETFs, commodities, and cryptocurrencies.
Eightcap offers 46 forex pairs, with popular pairs like the EUR/USD available, as well as minor currency pairs like the GBP/NZD.
However, what makes Eightcap stand out as a top broker is its extraordinarily strong crypto offerings. There are over 250 different crypto offerings, with popular cryptos like Bitcoin, Ethereum and Dogecoin paired against fiat currencies and even other cryptos. If you wanted to, you could even purchase a crypto index for exposure to all the major coins.
Meanwhile, Admirals has 45 forex pairs on their STP-style raw account but drops to 37 pairs on their standard account.
Their crypto offerings are also extremely limited in comparison to Eightcap, at 32 available options on MT5.
For CFD products, our winner is Eightcap, as they provide more forex pairs, and have an extensive crypto CFD offering. However, we note that Admirals do have more financial instruments, as they allow you to trade more stock CFDs on MT5.
Via similarweb, which tracks website visit activity, we found that Admirals is slightly more popular.
In May 2022, Eightcap received 832 thousand visits to its website.
Admirals had slightly more than that in the same time period, at 966 thousand visits.
Eightcap. Eightcap’s slightly cheaper account types, wider trading platform offerings and all-round better trading experience push them to a win over Admirals. Their incredibly strong crypto offering cements their win.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
