While Swissquote has 76 forex pairs compared to Eightcaps’ 46 pairs, this review found Eightcap spreads are lower and have more trading platform options. This Swissquote vs Eightcap review compared the two forex brokers.
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Our comprehensive comparison covers the 10 most crucial trading factors to help you decide between Eightcap and Swissquote.
To measure which broker is cheaper to trade with, you first need to understand what fees you are charged when trading. The two primary trading fees are spreads and commission.
Standard Accounts available
Standard or commission-free accounts only have spread fees. The spread represents the difference between the price you can buy and sell a financial instrument at. The tighter the gap or spread, the less cost it is for each trade. Because there is no commission, your broker increases spreads over market prices as a form of brokerage.
Our average spread table can help you compare spreads between top CFD brokers. EightCap doesn’t report average spreads for their standard account, but Swissquote does.
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Standard Account Spreads
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1.70 | 1.60 | 1.70 | 2.00 | 1.60 |
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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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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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1.20 | 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 04/01/2024
As can be seen in the module above, Eightcap spreads are superior to Swissquote but you are better off looking at other brokers such as Pepperstone and IC Markets.
The minimum spread on an EightCap standard account is 1 pip wide. This is available for all of their major forex pairs, like the USD/JPY or USD/CHF. You’ll even get a 1 pip minimum on some minor pairs – the EUR/CAD and EUR/GBP. The minimum deposit required is at $500 for Australians and $100 outside of Australia.
In the UK or EU, Swissquote has two standard accounts:
Outside of the UK and EU, there are three standard accounts:
Standard Account Spreads
When it comes to standard account spreads, there’s a clear distinction between Eightcap and Swissquote. Eightcap consistently offers lower spreads across the board, with particularly competitive rates for pairs like EUR/USD and GBP/USD. Swissquote, on the other hand, tends to have higher spreads, especially for pairs like USD/CAD and EUR/JPY. However, it’s worth noting that Swissquote’s spreads for AUD/JPY are not available, which could potentially skew the comparison.
In my view, Eightcap is the cheaper option when it comes to standard account spreads. Their consistently lower spreads across various forex pairs give them a distinct advantage, especially for traders who deal with these pairs frequently. However, it’s important to consider other factors as well, such as the range of services, customer support, and trading platforms offered by each broker.
| Forex Pair | Eightcap | Swissquote | Industry Average |
|---|---|---|---|
| EUR/USD | 1.0 | 1.7 | 1.35 |
| USD/JPY | 1.1 | 1.6 | 1.54 |
| GBP/USD | 1.0 | 2.0 | 1.68 |
| AUD/USD | 1.2 | 1.6 | 1.63 |
| USD/CAD | 1.0 | 2.7 | 1.93 |
| EUR/GBP | 1.0 | 1.7 | 1.69 |
| EUR/JPY | 1.2 | 2.5 | 2.04 |
| AUD/JPY | 1.9 | N/A | 2.31 |
Standard Account Analysis Updated April 2024[1]April 2024 Published And Tested Data
When compared to the industry average, both Eightcap and Swissquote have their strengths and weaknesses. Eightcap’s spreads are generally below the industry average, making them a cost-effective choice for many traders. Swissquote, while having higher spreads on some pairs, still falls below the industry average for EUR/GBP. It’s crucial for traders to consider their specific needs and trading habits when choosing a broker. After all, the cheapest option isn’t always the best fit for every trader.
Comparison of commission accounts
Unlike standard accounts, commission-based ‘raw’ accounts come with market-priced spreads. However, you will be charged a commission on trades that you make.
Swissquote doesn’t advertise their average spreads for their STP-style trading accounts, but EightCap does so we can compare EightCap’s spread with other brokers.
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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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0.20 | 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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0.30 | 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 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024
View Swissquotes ReviewVisit Swissquotes
Eigthcap spreads are typical of most no-dealing desk brokers. This means spreads as low 0.0 pips and typically 0.08 to 0.20 pip range. The difference between Eightcap and other brokers such as Pepperstone, IC Markets and BlackBull Markets is negligible.
The EightCap Raw account has a minimum spread of 0 pips wide, and as you can see in the table above, their average spreads are very close to that. For the EUR/USD, you can expect to pay within the 0 – 0.1 pip spread range. As for the minimum deposit, you are required to deposit $250 if you are trading in Australia, and $100 internationally.
Commission fees are competitive against most other brokers, at $7 AUD/USD to trade a standard lot (of 100k units) round-turn. The comparison image below shows commission for other currencies, but if your base currency isn’t listed, your commission is converted from the USD rate.
Swissquote’s commission-based Elite and Pro accounts come with 0 pip minimum spreads. However, you have to be trading within the UK and EU to get access to these accounts, and to access the Pro account, you have to meet a set of very specific criteria. The minimum deposit for these accounts is $10,000.
Swissquote commission is at €5 round-turn per 100k units.
Funding methods
To trade, you have to actually fund your account first. EightCap let you fund with a wide set of deposit methods. These include, but are not limited to: Bank transfers, Visa/Mastercard credit cards or debit cards, BPay/POLi (Aus), Neteller/Skrill/PayPal. On top of these, EightCap even lets you fund your account in crypto if you want to.
In contrast, you can only fund a Swissquote account are more limited, with just a bank deposit or Visa/Mastercard available.
Verdict: EightCap has lower spreads on almost all of their accounts, on top of lower minimum deposits- making it far easier for you to set up an EightCap account and begin trading. As a result, our broker for cheaper trading accounts is EightCap.
Both brokers offer quite a range of platforms and trading tools for you to use. For this part, we’ll explore the platforms available.
EightCap has both MetaTrader 4 and MetaTrader 5 available, plus Capitalise.ai and TradingView.
MT4 and MT5 are the two most popular forex trading platforms in the world, and even beginner forex brokers will probably have heard of them.
Capitalise.ai is a code-free algorithmic trading platform. You can quickly write programs to trade for you in plain English.
TradingView is a premier chart-trading platform, with chart types and indicators galore to help you become a successful trader.
Swissquote also offers both MetaTrader options. On top of them, they make a proprietary platform, Advanced Trader, available. They advertise the customisability of the platform, as you can create DIY tools and use a combination of charts to trade with.
Verdict: Eightcap takes the lead in this category as well, thanks to their inclusion of Capitalise.ai, which allows for code-free algorithmic trading, setting them apart in the trading platform arena.
| Criteria | Eightcap | Swissquote |
|---|---|---|
| Account Types | Standard, Raw | Standard, Premium, Prime |
| Leverage | Up to 1:500 | Up to 1:100 |
Verdict: Eightcap wins in this category for its higher leverage options, although Swissquote offers more account types. The higher leverage makes Eightcap more appealing for traders looking for higher risk and reward.
Eightcap is my top choice for trading experience. They offer both MetaTrader 4 and MetaTrader 5, which are industry standards. But what sets them apart is Capitalise.ai, a code-free algorithmic trading platform.
Verdict: Eightcap wins hands down in providing a seamless and versatile trading experience. Their inclusion of Capitalise.ai allows traders to automate strategies without coding, making it a game-changer in the trading experience.
Swissquote Trust Score
Eightcap Trust Score
When it comes to trust and regulation, both Eightcap and Swissquote have their merits. Eightcap is regulated by the Australian Securities and Investments Commission (ASIC), one of the most respected regulatory bodies in the forex industry. This makes it a reliable choice, especially for traders based in Australia. They also offer client funds segregation and negative balance protection, which are essential features for safeguarding traders’ investments.
Swissquote, on the other hand, has a dual regulatory framework. They are regulated by the Financial Conduct Authority (FCA) in the UK and the Swiss Financial Market Supervisory Authority (FINMA) in Switzerland. This dual regulation provides an extra layer of security and trustworthiness. Swissquote has also been in the business for 25 years, giving them a long-standing reputation in the industry. Like Eightcap, they offer client funds segregation and negative balance protection.
| Eightcap | Swissquote | |
|---|---|---|
| Tier 1 Regulation | FCA (UK) CYSEC (Cyprus) ASIC (Australia) |
FCA (UK) CYSEC (Cyprus) MAS (Singapore) |
| Tier 2 Regulation | DFSA (Dubai) MFSA (Europe) SFC CSSF FINMA (Switzerland) |
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| Tier 3 Regulation | SCB (Bahamas) |
Verdict: When it comes to stronger trust and regulation, Swissquote takes the crown. Their dual regulation by both FCA and FINMA, coupled with their 25 years in the business, makes them a more reliable and trustworthy choice for traders who prioritize security.
Eightcap offers 46 forex pairs and over 250 crypto trading options. Swissquote provides 76 forex pairs but only 34 crypto options.
| Product Type | Eightcap | Swissquote |
|---|---|---|
| Forex Pairs | 46 | 76 |
| Crypto | 250+ | 34 |
Verdict: Eightcap is the go-to broker for traders who want a broad range of trading options, especially in the burgeoning crypto market. Their extensive crypto offerings make them a standout choice.
Eightcap offers limited educational resources, focusing more on its trading platforms and tools. Swissquote provides a comprehensive educational package.
Verdict: Swissquote is the clear winner for traders who prioritize educational resources. Their structured approach, including webinars and tutorials, provides a well-rounded educational experience for traders of all levels.
Eightcap offers 24/5 customer support via live chat, email, and phone. Swissquote also provides 24/5 support but adds multilingual capabilities.
| Feature | Eightcap | Swissquote |
|---|---|---|
| Live Chat | Yes | Yes |
| Email Support | Yes | Yes |
| Phone Support | Yes | Yes |
| Multilingual | No | Yes |
Verdict: Swissquote takes the cake in customer service, thanks to their multilingual support. This makes them more accessible to a global audience, setting them apart in the customer service arena.
Eightcap offers a wide range of funding options, including bank transfers, credit/debit cards, and crypto. Swissquote is limited to bank transfers and Visa/Mastercard.
| Funding Option | Eightcap | Swissquote |
|---|---|---|
| Bank Transfer | ✓ | ✓ |
| Credit/Debit Card | ✓ | ✓ |
| Crypto | ✓ | ✗ |
Verdict: Eightcap is the broker of choice for traders looking for diverse and flexible funding options. The inclusion of cryptocurrency as a funding method gives them a significant edge over Swissquote.
Eightcap has a minimum deposit of $100 for international clients, while Swissquote’s minimum deposit starts at $1,000 for their Premium account.
| Broker | Minimum Deposit |
|---|---|
| Eightcap | $100 |
| Swissquote | $1,000 |
Verdict: Eightcap is the more accessible broker, especially for newcomers or those who prefer to start with a smaller investment. Their lower minimum deposit requirement makes it easier for traders to take the plunge.
Eightcap is the winner because they offer a more balanced package that caters to both beginner and experienced traders. They excel in trading experience, funding options, and have a lower minimum deposit, making them more accessible. Below is a table that summarises the key information leading to this verdict.
| Criteria | Eightcap | Swissquote |
|---|---|---|
| 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, Eightcap is the better choice due to its user-friendly platforms and lower minimum deposit.
For experienced traders, Swissquote is preferable for its advanced trading tools and robust educational resources.
Eightcap has lower costs. They offer spreads as low as 0.0 pips on major forex pairs. Swissquote’s spreads start at 1.3 pips. For more information on low-cost brokers, you can visit our Low Commissions Awards page.
Both Eightcap and Swissquote offer MetaTrader 4, but Eightcap edges out with its lower spreads and fees. For more details, check out our list of best MT4 brokers.
Neither Eightcap nor Swissquote offers social or copy trading. If social trading is crucial for you, you might want to look at other options listed on our best forex social trading platforms page.
Spread betting is not available with either Eightcap or Swissquote. If you’re specifically looking for this feature, you’ll need to explore other options. We have a detailed list of the best spread betting brokers in the UK that you can check out on our dedicated spread betting page.
For Aussie traders, Eightcap is the go-to, thanks to its ASIC regulation and competitive spreads. For more Aussie-friendly brokers, check out our top Australian forex brokers.
In the UK, Swissquote wins with its FCA regulation and long-standing reputation. For more UK options, see our best UK trading platforms.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
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