Eightcap has no dealing desk with low ECN-like pricing from 0.0 pips. eToro is a market maker with forex trading via its social trading platform. See how the brokers compare in this Eightap vs eToro forex review.
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Our comprehensive comparison covers the 10 most crucial trading factors to help you decide between Eightcap and eToro.
Eightcap offers lower spreads on most currency pairs. For the EUR/USD pair, Eightcap has an average spread of 1.0, which is the same as eToro’s. However, Eightcap’s overall average spread is 1.16 pips, making it significantly more competitive than eToro’s average of 1.50 pips.
| Standard Account | Eightcap Spreads | eToro Spreads | Industry Spreads |
|---|---|---|---|
| Overall Average | 1.16 | 1.50 | 1.6 |
| EUR/USD | 1.0 | 1.0 | 1.2 |
| USD/JPY | 1.2 | 1 | 1.4 |
| GBP/USD | 1.2 | 2 | 1.6 |
| AUD/USD | 1.2 | 1 | 1.5 |
| USD/CAD | 1.2 | 1.5 | 1.8 |
| EUR/GBP | 1.1 | 1.5 | 1.5 |
| EUR/JPY | 1.2 | 2 | 1.9 |
| AUD/JPY | 1.2 | 2 | 2.1 |
Our fee calculator explains how smaller spreads influence costs. Pick your base currency, the amount, and pair to calculate the fee.
Verdict
If you’re keen on minimising trading costs, Eightcap is the clear winner with its lower spreads and more flexible account options.
Eightcap offers both MetaTrader 4 and 5, which are renowned for their user-friendly interface, advanced charting tools, and algorithmic trading capabilities.
eToro, on the other hand, restricts traders to its proprietary platform. While it’s user-friendly, it lacks the advanced features that MetaTrader platforms offer.
| Trading Platform | Eightcap | eToro |
|---|---|---|
| MetaTrader 4 | Yes | No |
| MetaTrader 5 | Yes | No |
| cTrader | No | No |
| TradingView | Yes | No |
| Copy Trading | Yes | Yes |
| Proprietary Platform | No | Yes |
Verdict: For traders who value a robust, feature-rich trading platform, Eightcap is the clear winner. Offering both MetaTrader 4 and 5, Eightcap provides a comprehensive set of tools and features that cater to traders of all experience levels. Whether you’re interested in algorithmic trading, advanced charting tools, or a user-friendly interface, Eightcap’s platform offerings are far more versatile and comprehensive than eToro’s proprietary platform.
Eightcap offers both standard and Raw accounts, providing traders with the flexibility to choose an account that suits their trading style and cost preferences.
eToro only offers a standard account, which limits traders to higher spreads and fewer features.
| Eightcap | eToro | |
|---|---|---|
| Standard Account | Yes | Yes |
| Raw Account | Yes | No |
| Swap Free Account | No | Yes |
| Active Traders | No | No |
| Spread Betting (UK) | No | No |
Verdict: Eightcap excels in offering a range of account types and additional trading features that cater to various trading styles and cost preferences. With both standard and Raw accounts available, traders have the flexibility to choose an account type that suits them best.
Eightcap truly shines when it comes to trading experience. With MetaTrader 4 and 5 on offer, traders have the flexibility to choose a platform that suits their trading style. The execution speed is incredibly fast, which is crucial for scalping and high-frequency trading.
eToro, while user-friendly, restricts you to their proprietary platform. It’s great for social trading but lacks the versatility that comes with MetaTrader platforms.
Verdict: Eightcap offers a seamless trading experience with its user-friendly MetaTrader platforms, high-speed execution, and a range of trading features like Capitalise.ai for automated trading. This makes it a more versatile choice for traders looking for an efficient and easy-to-navigate trading environment.
eToro Trust Score
Eightcap Trust Score
eToro is regulated by multiple financial authorities, including ASIC, FCA, CySEC, and FSA, providing a higher level of trust and security.
Eightcap, while also trustworthy, is regulated by ASIC and SCB, which might not offer the same level of global trust.
| Eightcap | eToro | |
|---|---|---|
| Tier 1 Regulation | FCA (UK) CYSEC (Cyprus) ASIC (Australia) | ASIC (Australia) CYSEC (Cyprus) FCA (UK) |
| Tier 2 Regulation | MFSA (Europe) ADGM (UAE) GFSC (Gilbraltar) |
|
| Tier 3 Regulation | SCB (Bahamas) | FSA-S (Seychelles) |
Verdict: For traders who place a high value on regulatory coverage and trust, eToro is the superior choice. Being regulated by multiple financial authorities, including ASIC, FCA, CySEC, and FSA, eToro provides a higher level of trust and security. This broad regulatory coverage assures traders that they are dealing with a broker that adheres to stringent international standards.
| Feature | Eightcap | eToro |
|---|---|---|
| Forex Pairs | 46 | 49 |
| Cryptocurrencies | 250+ | 46 |
| Indices | Yes | Yes |
| Commodities | Yes | Yes |
| Shares and ETFs | Limited | 2600+ |
| Minor Pairs | Yes | Yes |
| Exotic Pairs | Limited | Limited |
| Metals | Yes | Yes |
| Energies | Yes | Yes |
| Bonds | No | Yes |
Verdict: eToro offers a broader range of CFD markets and products, making it a more versatile choice for traders interested in diversifying their portfolio. From cryptocurrencies to commodities, eToro’s product range is more comprehensive than Eightcap’s.
Eightcap offers a decent range of educational resources, but it’s not as extensive as I’d like. They do have webinars and basic forex education, but it’s not as comprehensive.
eToro, on the other hand, has a more robust educational platform. They offer webinars, video tutorials, and even advanced courses.
Verdict: Based on our testing, eToro offers superior educational resources with a score of 8 out of 10
Eightcap offers excellent customer service with 24/5 live chat support. They’re quick to respond and very helpful.
eToro also provides good customer service but falls short in response time.
| Feature | Eightcap | eToro |
|---|---|---|
| Live Chat | 24/5 | 24/5 |
| Email Support | Yes | Yes |
| Phone Support | Yes | Limited |
| Response Time | Fast | Slow |
| Customer Reviews | 4.4/5 | 4.2/5 |
Verdict: Eightcap takes the lead in customer service with its quick response times, multiple channels of communication, and 24/5 support. This makes it a more reliable choice for traders who may need immediate assistance.
Eightcap offers a variety of funding options, including bank transfers, credit/debit cards, and even cryptocurrencies. eToro also provides multiple funding options but doesn’t accept cryptocurrencies.
| Funding Option | Eightcap | eToro |
|---|---|---|
| Bank Transfer | ✓ | ✓ |
| Credit/Debit Card | ✓ | ✓ |
| PayPal | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Cryptocurrencies | ✓ | ✗ |
| Klarna | ✗ | ✓ |
| iDeal | ✗ | ✓ |
Verdict: Eightcap offers a wider range of funding options, including various e-wallets and bank transfer methods, providing traders with the flexibility to choose a funding method that is most convenient for them.
Eightcap requires a minimum deposit of $100 for international traders and $500 AUD for Australian traders. While this might not be a huge amount for seasoned traders, it can be a barrier for beginners.
eToro, on the other hand, has a much lower entry barrier with a minimum deposit of just $50, making it more accessible for traders who are just starting out.
| Feature | Eightcap | eToro |
|---|---|---|
| Minimum Deposit | $100 | $50 |
| Trader is a redident in: | Minimum First Deposit (USD) |
| Australia, United Kingdom, Germany, Malaysia, Singapore, Thailand, Ireland, Spain, Sweden | $50 |
| France, Poland, Slovakia, Belgium, Czech Republic | $100 |
| Eligible countries outside of the list | $200 |
| New Zealand | $1,000 |
| Israel | $10,000 |
| Uniited States | $10 |
Verdict: For traders who are cautious about making a large initial deposit, eToro is the better choice. With a lower minimum deposit requirement, eToro makes it easier for new traders to enter the market without a significant financial commitment.
Eightcap is the winner because it offers a more versatile trading experience, lower spreads, and a wider range of funding options. The table below summarises the key information leading to this verdict.
| Criteria | Eightcap | eToro |
|---|---|---|
| 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 | ✗ | ✓ |
For beginner traders, eToro is the better choice due to its lower minimum deposit and superior educational resources.
For experienced traders, Eightcap stands out for its versatile trading platforms and lower spreads.
Eightcap has lower costs, especially when it comes to spreads. Their average spread for EUR/USD starts at 1 pip compared to eToro’s 3 pips. For more information on low-cost brokers, check out our lowest spread forex brokers in the UK.
Eightcap is the better choice for MetaTrader 4 users. They offer both MT4 and MT5, giving traders more flexibility. For more details, visit our best MT4 forex brokers in the UK.
eToro is the go-to broker for social or copy trading. They have a robust platform that allows you to follow and copy other traders. Learn more about copy trading at best copy trading platforms in the UK.
Neither Eightcap nor eToro offer spread betting. If you’re interested in spread betting, you might want to check other best spread betting brokers in the UK.
In my opinion, Eightcap is superior for Australian Forex traders. They are ASIC-regulated and offer a wide range of trading platforms. For more information, visit our Best Forex Brokers In Australia page.
For UK traders, eToro is the better choice. They are FCA-regulated and offer a wide range of educational resources. For more details, check out Best Forex Brokers In UK.
No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page.
Ask an Expert
Can you lose more money than you invest eToro?
Clients of eToro in Australia, The UK, UAE and Europe will get negative balance protection meaning their balance cannot go into negative.
Does Eightcap have an app?
Eightcap don’t have their own in-house developed app but you can trade using MT4, MT5 and TradingView apps.
Why is eToro spread so high?
Most likely to cover the costs of providing copy trading service. Most copy trading software have a subscription fee, but eToro appears to include this fee in their spread instead.