This Eightcap vs Axi forex broker comparison found that Eightcap offers 250 crypto and 63 forex pairs and MetaTrader 4 and 5 trading platforms. Axi has 72 forex pairs but only MT4 along with 3 social trading tools.
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Our comprehensive comparison covers the 10 most important trading factors to help you make an informed decision between Eightcap and Axi.
The primary costs you can incur when trading are the spreads and any commission fees (if applicable). Both EightCap and Axi have a Standard Account and a commission account.
You will generally find lower spreads on EightCap, as their average spread is lower than AxiTrader’s indicative spreads.
Commission costs with both brokers are fairly similar, however, in select cases, EightCap has a lower commission on trades.
Eightcap Has A Superior Standard Account
On a standard account, there are no commission fees for trading, this is because the spreads you pay will be artificially increased to include the commission. This means you pay a higher spread than the raw market price. Standard accounts are popular with new traders and discretionary traders due to their simpler cost structure.
Spreads with Eightcap generally start from 1.0 pips however 05 pips is not unheard of for EURUSD pairs.
Axi does advertise a lower minimum spread of 0.4 pips with EUR/USD, however, spreads are generally higher with indicative spreads of 1.2 pips and higher provided.
While Axi may have a lower minimum spread for selected pairs, they are generally higher than Eightcap.
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Standard Account Spreads
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|---|---|---|---|---|---|
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1.20 | 1.30 | 1.20 | 1.30 | 1.10 |
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1.10 | 1.20 | 1.40 | 1.40 | 1.40 |
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1.13 | 1.01 | 1.71 | 1.66 | 1.12 |
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0.90 | 1.30 | 1.40 | 1.40 | 1.40 |
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0.70 | 2.20 | 1.10 | 1.10 | 0.60 |
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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 | 1.20 | 1.30 | 1.30 | 1.30 |
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1.70 | 1.60 | 1.70 | 2.00 | 1.60 |
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1.20 | 1.80 | 1.90 | 1.90 | 1.60 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024
Standard Account Spreads
When we look at the average standard account spreads for the forex pairs, we see some interesting patterns. Eightcap and AXI, two of the forex brokers we’re comparing, show different results.
Eightcap tends to have lower spreads across most forex pairs. For instance, the EUR/USD pair has a spread of 1 with Eightcap, compared to 1.2 with AXI. This pattern is consistent across most pairs, with Eightcap often having the edge. However, AXI does have a lower spread for the AUD/JPY pair, which is something to consider if you frequently trade this pair.
| Forex Pair | Eightcap | AXI | Industry Average |
|---|---|---|---|
| EUR/USD | 1 | 1.2 | 1.18 |
| USD/JPY | 1.1 | 1.1 | 1.37 |
| GBP/USD | 1 | 1.3 | 1.51 |
| AUD/USD | 1.2 | 1.3 | 1.41 |
| USD/CAD | 1 | 1.3 | 1.70 |
| EUR/GBP | 1 | 1.2 | 1.56 |
| EUR/JPY | 1.2 | 1.2 | 1.85 |
| AUD/JPY | 1.9 | 1.4 | 2.09 |
Standard Account Analysis Updated April 2024[1]April 2024 Published And Tested Data
Comparing these brokers to the industry average, both Eightcap and AXI have competitive spreads. In some cases, such as with the EUR/USD and AUD/USD pairs, Eightcap even beats the industry average. However, AXI tends to be closer to the industry average across all pairs.
In conclusion, if you’re looking for the lowest spreads, Eightcap might be the better choice for you. However, AXI also offers competitive spreads and might be a better fit depending on the specific forex pairs you’re interested in. As always, it’s important to consider all factors when choosing a forex broker, not just the spreads.
EightCap Has Tight Spreads On Their Commission Account
Straight-Through-Processing (STP) is the process where a broker directly connects your trades to their liquidity pools, so you can obtain quotes consistent with the market.
On both EightCap and Axi, your spreads can get as low as 0 pips for major pairs.
Although Axi does not provide average spreads for their Pro Account, EightCap’s average Raw Account spreads are highly competitive as you can see in the table below.
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ECN Broker Spreads
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|---|---|---|---|---|---|
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0.23 | 0.20 | 0.06 | 0.42 | 0.27 |
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0.20 | 0.30 | 0.10 | 0.30 | 0.20 |
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0.40 | 0.60 | 0.10 | 0.40 | 0.20 |
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0.20 | 0.30 | 0.20 | 0.40 | 0.20 |
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0.50 | 0.60 | 0.30 | 0.50 | 0.50 |
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0.30 | N/A | 0.30 | 0.50 | 0.40 |
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0.20 | 0.83 | 0.44 | 0.40 | 0.42 |
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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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n/a | 0.30 | n/a | 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 04/01/2024
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EightCap Has Slightly Lower Commissions
The only commissions charged by EightCap and Axi are on their STP-style accounts. Comparing commission fees, both brokers are similarly matched, but EightCap has slightly lower fees for a few currencies.
| Commission (round-turn) per standard lot | EightCap | Axi |
|---|---|---|
| USD | $7 | $7 |
| AUD | $7 | $7 |
| GBP | £4.5 | £4.5 |
| EUR | €5.5 | €6.5 |
| CAD | $7 | $9 |
| SGD | $7 | $10 |
| Most other currencies | USD $7 equivalent | USD $7 equivalent |
Verdict: If you’re looking to minimise trading costs, Eightcap is the better choice due to its lower spreads and fees.
Both brokers offer MetaTrader 4 and 5, but Eightcap goes the extra mile by providing additional tools like Capitalise.ai for algorithmic trading and FX Blue Labs for extra widgets.
Verdict: Eightcap offers a more comprehensive trading platform with additional tools that can enhance your trading experience.
Eightcap offers a variety of account types, including a Raw account with even lower spreads. They also provide additional features like Capitalise.ai, which allows for algorithmic trading without the need for coding skills.
Verdict: Eightcap offers superior accounts and features, making it a more versatile choice for traders of all levels.
When it comes to trading experience and ease, I’ve got to say, Eightcap and Axi both offer MetaTrader 4 and 5, which are user-friendly and packed with features. However, Eightcap has a slight edge with additional tools like Capitalise.ai for algorithmic trading and FX Blue Labs for extra widgets.
Axi’s social trading features are commendable, but if you’re looking for a more comprehensive trading experience, Eightcap’s additional tools make it the better choice.
Verdict: If you’re looking for a more comprehensive trading experience with additional tools, Eightcap is your go-to broker.
Axi Trust Score
Eightcap Trust Score
While both brokers are well-regulated, Axi has the added advantage of being regulated by the FCA in the United Kingdom, which is one of the most stringent regulatory bodies in the world.
| Eightcap | Axi | |
|---|---|---|
| Tier 1 Regulation | FCA (UK) CYSEC (Cyprus) ASIC (Australia) |
FCA (UK) ASIC (Australia) FMA (New Zealand) |
| Tier 2 Regulation | DFSA (Dubai) | |
| Tier 3 Regulation | SCB (Bahamas) | SVGFSA |
Verdict: If trust and regulation are your top priorities, Axi is the better choice due to its FCA regulation and longer industry presence.
In terms of product range and CFD markets, both brokers offer a variety of options. However, Eightcap takes the lead with a wider range of cryptocurrencies.
| Feature | Eightcap | Axi |
|---|---|---|
| Forex Pairs | Yes | Yes |
| Commodities | Yes | Yes |
| Indices | Yes | Yes |
| Stocks | Yes | Yes |
| Cryptocurrencies | 250 | 10 |
| Bonds | No | Yes |
| ETFs | No | Yes |
| Options | No | No |
| Futures | No | No |
Verdict: If you’re a crypto enthusiast, Eightcap is the better choice. For a more diversified portfolio, Axi offers a wider range of markets.
Axi offers a comprehensive educational section with articles, videos, and trading guides. Eightcap, on the other hand, provides webinars, tutorials, and market analysis.
Verdict: Based on our testing, Axi offers superior educational resources with a score of 8.5, making it the better choice for traders looking to expand their knowledge.
Eightcap offers faster response times and also provides webinars, which Axi doesn’t. Both brokers offer live chat, email, and phone support.
| Feature | Eightcap | Axi |
|---|---|---|
| Live Chat | Yes | Yes |
| Email Support | Yes | Yes |
| Phone Support | Yes | Yes |
| FAQ Section | Yes | Yes |
| Educational Guides | Yes | Yes |
| Webinars | Yes | No |
Verdict: If customer service is a priority for you, Eightcap is the better choice with a score of 9.2 based on our testing.
Axi offers a wider range of funding options, including WeChat Pay and Sofort, which Eightcap doesn’t offer.
| Funding Option | Eightcap | Axi |
|---|---|---|
| Bank Transfer | ✓ | ✓ |
| Credit Card | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| UnionPay | ✓ | ✓ |
| POLi and BPay | ✓ | ✓ |
| WeChat Pay | ✗ | ✓ |
| Sofort | ✗ | ✓ |
Verdict: If you’re looking for more flexibility in funding your account, Axi is the better choice.
Axi has no minimum deposit requirement, making it more accessible for traders who are just starting out or those who prefer to start with a smaller investment.
| Broker | Minimum Deposit |
|---|---|
| Eightcap | $100 |
| Axi | No minimum |
Verdict: Axi is the better choice for traders looking for lower minimum deposit requirements, making it more accessible for all types of traders.
Eightcap is the winner because it offers a more comprehensive trading experience with lower spreads, additional tools, and a wider range of cryptocurrencies. The table below summarises the key information leading to this verdict.
| Criteria | Eightcap | Axi |
|---|---|---|
| Lowest Spreads And Fees | ✓ | ✗ |
| Better Trading Platform | ✓ | ✗ |
| Superior Accounts And Features | ✓ | ✗ |
| Best Trading Experience And Ease | ✓ | ✗ |
| Stronger Trust And Regulation | ✗ | ✓ |
| Top Product Range And CFD Markets | ✓ | ✗ |
| Superior Educational Resources | ✗ | ✓ |
| Superior Customer Service | ✓ | ✗ |
| Better Funding Options | ✗ | ✓ |
| Lower Minimum Deposit | ✗ | ✓ |
Eightcap is the better choice for beginner traders due to its user-friendly platform and lower spreads.
Axi is more suited for experienced traders who are looking for strong regulation and educational resources.
Eightcap generally offers lower costs. They are known for their competitive spreads, especially on major forex pairs. For more details, you can check out our lowest spread comparison.
Both Eightcap and Axi offer MetaTrader 4, but Eightcap provides additional tools like Capitalise.ai that allow traders to automate their strategies without any coding skills. Axi offers a solid MetaTrader experience but lacks these additional features. If you’re keen on using MT4 to its full potential, you might want to check out our best MT4 brokers page.
In the realm of social trading, Axi stands out. They offer integration with platforms like MyfxBook and ZuluTrade, allowing traders to copy strategies from successful traders. Eightcap doesn’t offer this feature, making Axi the go-to broker for social trading. For more on this, you can visit our best forex social trading platforms page.
Unfortunately, neither Eightcap nor Axi offer spread betting. If spread betting is a crucial feature for you, you might want to look elsewhere. For brokers that do offer this feature, you can check out our best spread betting brokers page.
In my opinion, Eightcap is superior for Australian forex traders. They are ASIC regulated and offer a wide range of products. For more details, visit our Australian forex brokers page.
For UK traders, Axi is the better choice. They are FCA regulated and offer a strong educational platform. For more information, visit our best UK forex brokers page.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
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