Eightcap vs XM: Which Broker Is Best?
Let us explore further the detailed review to both Eightcap and XM. Explicitly, Eightcap excels in their customer support, funding methods, and low trading fees, compared to XM, in which this makes Eightcap as the emerging superior broker in this comparison.
Our broker reviews are reader supported and we may receive payment when you click on a partner site. For more information, visit our About Us page.
*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations
*CFD trading is not available in the USA due to NFA and CFTC regulations, American traders spot trade in place of CFDs.
Out top 3 findings comparing the two brokers were:
- Eightcap offers lower spreads and the lowest commission rates.
- Eightcap has the best forex trading platforms including TradingView
- XM has superior account features including higher leverage levels.
1. Lowest Spreads And Fees – Eighcap
In this review of Eightcap and XM, we will dissect each broker’s features and platforms and turn our attention to how superior they are to one another. XM and Eightcap are two prominent forex brokers who are offering their diverse trading platforms and features. While XM is known for its accessibility with its low minimum deposit and extensive asset selection, Eightcap stands out with its competitive spreads and advanced trading tools. Both brokers cater to their traders who are looking for a reliable and efficient trading experience.
Spreads
Spreads are a critical factor in forex trading, this influences the cost of each trade. Lower spreads often mean reduced trading expenses, most especially for high-frequency traders. For their EUR/USD average RAW spreads, Eightccap offers a 0.06, while XM provides a 0.02, making XM slightly more competitive for this pair. For the GBP/USD average RAW spread, Eightcap is at 0.23 compared to Eightcap’s 0.27. For their Standard account spreads, Eightcap starts at 1.0 pips, outperforming XM’s 1.6 pips.
| RAW Account | Eightcap Spreads | XM Spreads | Industry Spreads |
|---|---|---|---|
| Overall Average | 0.42 | 0.62 | 0.72 |
| EUR/USD | 0.06 | 0.02 | 0.28 |
| USD/JPY | 0.23 | 0.25 | 0.44 |
| GBP/USD | 0.23 | 0.24 | 0.54 |
| AUD/USD | 0.27 | 0.24 | 0.45 |
| USD/CAD | 0.2 | 0.3 | 0.61 |
| EUR/GBP | 0.3 | 0.24 | 0.55 |
| EUR/JPY | 0.59 | 0.32 | 0.74 |
| AUD/JPY | 0.49 | 1.5 | 0.93 |
| USD/SGD | 1.37 | 2.5 | 1.97 |
Commission Levels
Commissions, alongside spreads, determine the overall cost of trading. Transparent and competitive commission structures are truly vital for traders. We see here that both brokers charge a base commission of $3.50 per lot for USD trades. Here, Eightcap offers flexibility with commissions in AUD, GBP, and EUR, unlike XM, which lacks this feature. Meanwhile, Eightcap’s localised commission rates can save on conversion fees, which benefits traders in regions such as Australia and Europe.
| USD | AUD | GBP | EUR | |
|---|---|---|---|---|
| Eightcap | $3.50 | $3.50 | £2.25 | €2.75 |
| XM | $3.50 | N/A | N/A | N/A |
We have here our Eightcap vs XM Fee Calculator. Feel free to check out their spreads and fees.
Standard Account Fees
Standard accounts are ideal for beginners, this offers a commission-free trading with slightly higher spreads. For their minimum deposit, XM requires a $5- $100, which makes it more accessible than Eightcap’s $100. In the topic of inactivity fees, neither broker charges inactivity fees, this ensures a cost-efficiency for less active traders. And for their funding methods, XM supports over 13 methods, surpassing Eightcap’s 7, this provides greater flexibility.
|
Standard Account Spreads
|
|||||
|---|---|---|---|---|---|
|
1.00 | 1.20 | 1.00 | 1.00 | 1.10 |
|
1.60 | 1.60 | 1.80 | 1.90 | 1.50 |
|
1.13 | 1.01 | 1.71 | 1.66 | 1.12 |
|
1.20 | 0.90 | 1.50 | 1.80 | 1.80 |
|
1.20 | 1.40 | 1.50 | 1.60 | 1.50 |
|
1.10 | 1.20 | 1.30 | 1.30 | 1.30 |
|
1.20 | 1.80 | 1.90 | 1.90 | 1.60 |
|
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 04/01/2025
Based on our team’s expertise, both XM and Eightcap cater to diverse trading needs. XM excels in accessibility and asset variety, on the other hand, Eightcap offers lower trading costs and advanced tools. We advise you to choose the right broker that will depend on your priorities, but, ultimately, both brokers will ensure a resilient and strong trading experience for forex enthusiasts.
Our Lowest Spreads and Fees Verdict
Our team surmises that Eightcap rides high in this category by reason of their lowest spreads and fees.
View Eightcap ReviewVisit Eightcap
*Your capital is at risk ‘73% of retail CFD accounts lose money’
2. Better Trading Platforms – Eightcap
XM and Eightcap are two well-regarded forex brokers, each offering unique features. XM is celebrated for its user-friendly platforms and strong research tools, while Eightcap excels with its TradingView integration and competitive spreads. Both brokers definitely cater to traders seeking reliable platforms for their AUD, GBP, EUR, and USD trading.
| Trading Platform | Eightcap | XM |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | Yes | Yes |
| cTrader | No | No |
| TradingView | Yes | No |
| Copy Trading | Yes | Yes |
| Proprietary Platform | No | Yes |
We have created a software questionnaire if you are unsure what platform best suits your trading style. Based on six simple questions, we can recommend the best trading software for your trading needs.
Metatrader
MetaTraders 4 and 5 are industry-standard platforms, that offer advanced charting and trading tools for all their forex traders. Here, Eightcap provides both MT4 and MT5, this ensures compatibility with various trading strategies. It also integrates seamlessly with TradingView for enhanced charting. XM, on the other hand, offers MT4 with their additional features such as AutoChartist, but still lacks MT5 support, this limits options for traders who are looking for the latest platform capabilities.
Advanced Platforms
Advanced trading platforms enhance the trading experience with innovative tools and features. For Eightcap, stands out with its TradingView integration, which allows traders to execute trades directly from charts and access community-driven insights. XM, on the other hand, features its proprietary XM Trade platform, which is known for its intuitive interface and strong technical analysis tools.
Copy Trading
Copy trading enables traders to replicate the strategies of experienced professionals. Eightcap, supports copy trading through third-party platforms, offering flexibility and access to diverse strategies. Meanwhile, XM does not currently support this copy trading platform, which means it may limit options for traders who are looking for passive investment opportunities.
With this in-depth research, our findings indicate that XM and Eightcap cater to different trading needs. XM is ideal for traders valuing research and simplicity, while Eightcap appeals to those who are searching for advanced tools and competitive spreads. Both brokers provide a strong and resilient platform for their superior trading experience.
Our Better Trading Platform Verdict
As plain as day, Eightcap takes the spotlight in this category owing it to their better trading platform.
View Eightcap ReviewVisit Eightcap
*Your capital is at risk ‘73% of retail CFD accounts lose money’
3. Superior Accounts And Features – XM
XM and Eightcap are leading forex brokers offering unique benefits to traders. Furthermore, XM stands out with diverse account types and accessibility for beginners, while Eightcap excels in competitive spreads and advanced features. Both brokers provide strong and resilient platforms, which empower traders to execute strategies across AUD, GBP, EUR, and USD efficiently.
Eightcap and XM both cater to distinct trader needs. Eightcap’s RAW account is particularly appealing for its lower spreads across major currency pairs, which makes it ideal for cost-conscious traders. XM, on the other hand, offers versatility with Micro, Standard, and XM Zero accounts, allowing beginners to explore forex trading with no requotes and rapid execution. Both brokers ensure access to MT4 and MT5 platforms, accommodating expert advisors and diverse trading tools, but Eightcap takes the lead in competitiveness.
| Eightcap | XM | |
|---|---|---|
| Standard Account | Yes | Yes |
| Raw Account | Yes | Yes |
| Swap Free Account | No | Yes |
| Active Traders | No | No |
| Spread Betting (UK) | No | No |
What our dedicated team of experts suggest is that Eightcap, while they emerge as the preferred broker for traders prioritising cost-efficiency and lower spreads, XM, on the other hand, appeals to those who are searching for a variety of account options. We see here that both brokers contribute significantly to the forex trading industry, this ensures a seamless and productive trading experience for their users.
Our Superior Accounts and Features Verdict
Without a doubt, XM steals the show in this segment.
*Your capital is at risk ‘75.18% of retail CFD accounts lose money’
4. Best Trading Experience – Eightcap
Here, we will discuss further about best trading experiences offered by these two brokers. We see here that both XM and Eightcap are known forex brokers in the market for their diverse tools and features which are being offered to traders, new or seasoned. XM leads with their versatile platforms like MT4 and MT5, which cater to beginners with various account types. Eightcap, on the other hand, stands out with its user-friendly interface, TradingView integration, and competitive features, making both brokers valuable assets in the industry of forex trading.
In comparing XM and Eightcap, traders will find unique advantages with each. Eightcap takes it further with its faster execution speeds – 143ms for limit orders – and seamless TradingView integration for superior charting and analysis. XM, while slightly slower at 148ms for limit orders, attracts traders with their strong and resilient platform options, this includes their MT$ and MT%, their micro-lot trading for newcomers. Eightccap’s ECN account and user-friendly experience appeal to active traders focused on efficiency and for being cost-effectiveness, which ensures an edge over competitors.
- User-friendly interface
- Fast execution speeds
- Offers TradingView
- ECN account available
| Limit Order Speed | Limit Order Global Rank | Market Order Speed | Market Order Global Rank | |
|---|---|---|---|---|
| Eightcap | 143ms | 19/36 | 139ms | 17/36 |
| XM | 148ms | 21/36 | 184ms | 28/36 |
With this review, our findings indicate that Eightcap emerges as the top choice for its advanced tools, TradingView support, and faster execution. XM, on the other hand, remains a solid contender for newbie traders in the market, Eightcap’s feature solidifies its position as the broker of choice for modern and strategic forex traders.
Our Best Trading Experience and Ease Verdict
Clearly, it is Eightcap who takes the cake in this portion thanks to their best trading experience and ease.
View Eightcap ReviewVisit Eightcap
*Your capital is at risk ‘73% of retail CFD accounts lose money’
5. Stronger Trust And Regulation – Eightcap
This section will probe into these two brokers’ strong trust and regulation. Both XM And Eightcap are reputable forex brokers offering their strong and resilient platforms and services. XM is recognised for its variety of account types and accessibility, while Eightcap excels with higher trust ratings, competitive spreads and advanced features. Both of these brokers significantly contribute to the evolving forex trading industry, most especially for the AUD, GBP, EUR, and USD trading.
Eightcap has a moderately higher trust score of 71 vs 67 for XM. This is based on regulation, reputation, and reviews.
XM Trust Score
Eightcap Trust Score
Here, Eightcap and XM cater to different trader preferences. Eightcap holds a higher TrustPilot score of 71 over XM’s 67, or 4.3 compared to 3.3, an almost neck-to-neck score, but these scores show their greater client satisfaction in the industry. Both brokers are regulated by top-tier authorities like ASIC and CySEC. In addition, Eightcap’s FCA and SCB oversight adds to its trustworthiness. Eightcap was founded in 2009, but both have built strong reputations from then on. However, Eightcap’s edge lies in its advanced tools and streamlined experience. XM attracts beginners with varied account types, while Eightcap appeals to experienced traders prioritising cost-effectiveness and trust.
| Eightcap | XM | |
|---|---|---|
| Tier 1 Regulation | FCA (UK) CYSEC (Cyprus) ASIC (Australia) | ASIC (Australia) FCA (UK) CYSEC (Cyprus) |
| Tier 2 Regulation | DFSA (Dubai) | |
| Tier 3 Regulation | SCB (Bahamas) | FSC-BZ |
Based on our team’s expertise, we can surmise that Eightcap stands out with a higher trust score, advanced features and client satisfaction, which makes it the preferred broker for experienced traders. XM remains a strong choice for beginners who are looking for diverse account options and most especially a dependable platform, which ensures both brokers maintain relevance and reliability in the forex trading industry.
Our Stronger Trust and Regulation Verdict
Clearly enough, Eightcap dominates in this segment on the account of their stronger trust and regulation.
View Eightcap ReviewVisit Eightcap
*Your capital is at risk ‘73% of retail CFD accounts lose money’
6. CFD Product Range And Financial Markets – XM
Both XM and Eightcap are leading forex brokers in the market today, each broker brings unique offerings to the trading industry. XM excels with its extensive range of over 1,250 CFD trading products, while Eightcap focuses on its advanced tools and a more targeted selection of 360 cCFDs, including cryptocurrencies. Both of these brokers contribute significantly to traders’ success.
Eightcap and XN serve traders with distinct strengths. XM, on the other hand, impresses with a vast array of CFD products, which encompasses forex, shares indices and commodities, making it ideal for diversified portfolios. Eightcap provides a tailored approach, leading cryptocurrency CFDs with 95 offerings and maintaining a competitive edge in other assets like forex pairs and indices. Though XM boasts more instruments overall, Eightcap’s focus on advanced charting and analysis tools like TradingView makes it particularly appealing for traders prioritising their technical insights and efficiency.
| CFDs | Eightcap | XM |
|---|---|---|
| Forex Pairs | 56 | 55 |
| Indices | 16 | 14 |
| Commodities | 8 Commodities Softs and Metals | 2 Metals 5 Energies 8 Softs |
| Cryptocurrencies | 95 Crypto | No |
| Share CFDs | 586 | 1261 |
| ETFs | No | No |
| Bonds | No | No |
| Futures | No | No |
| Treasuries | No | No |
| Investments | No | No |
This assessment clearly suggests that XM stands out with its extensive product range and versatility in the market, and caters to traders who are looking for a wider market approach. Eightcap, with its advanced tools and cryptocurrency CFDs, on the other hand, is perfect for those desiring targeted and innovative trading in the industry. Both brokers offer valuable contributions, which ensures a well-rounded trading experience.
Our Top Product Range and CFD Markets Verdict
In closing, XM truly steals the show in this segment, by reason of their top product range and CFD markets.
*Your capital is at risk ‘75.18% of retail CFD accounts lose money’
7. Superior Educational Resources – XM
We will now turn our attention to both brokers’ superior educational resources. Both XM and Eightcap are famous for their valuable educational tools and resources in forex trading. Eightcap focuses on its market analysis and dynamic insights to enhance traders’ strategies, while XM excels with a comprehensive educational suite, this makes both brokers instrumental in elevating trading expertise across various levels.
Eightcap empowers traders through its Trade Zone, which features actionable insights into market trends, economic indicators, and strategic trading opportunities in key sessions, including Bitcoin and Oil analysis. Meanwhile, XM stands out with its extensive resources such as its webinars, video tutorials, and multilingual daily sessions by 49 instructors. XM live discussions and the Tradepedia series further solidify its position as the go-to broker for educational content. Equipped with the AI-powered forecasting tools expected from Eightcap, traders gain unique advantages that depend on their preferences.
Eightcap offers a decent range of educational resources, but XM shines here.
- Webinars
- E-books
- Video tutorials
- Trading guides
- Market analysis
- Demo accounts
Eightcap enhances traders’ strategies with its comprehensive Trade Zone, designed to provide an in-depth analysis of upcoming market dynamics.
- Economic Insights: Weekly insights offer a glimpse into upcoming market trends, data releases, and essential economic indicators, aiding traders in navigating economic events.
- Market Analysis: Regular updates on the Asian and Australian trading sessions, including strategic trading moves and analysis of assets such as Bitcoin and Oil, provide traders with actionable insights.
- AI-Powered Economic Calendar (details not retrieved): Expected to utilise artificial intelligence for accurately forecasting economic events and their potential market impacts.
XM
XM provides a wide range of educational materials designed to meet the needs of traders at all levels, helping them improve their trading knowledge and skills.
- XM Live: A free webinar offering live discussions with XM experts on trading fundamentals, educational webinars, and debates between traders and brokers.
- XM Tradepedia: A video series that teaches about Forex, covering topics from market basics to trading strategies.
- Scheduled Webinar Instructors: Daily webinars are available seven days a week and conducted by 49 instructors in 19 languages as part of XM’s Tradepedia Forex education.
- Live Forex Seminars: Portfolio Manager Avramis Despotis leads interactive seminars on market volatility, intraday trading techniques, and effective trading strategies.
Our team’s assessment suggests that XM remains the ideal choice with its expansive educational suite, this is in regard to their in-depth learning feature. Eightcap, on the other hand, is perfect for traders looking for strategic insights and actionable analysis. Together, these two brokers redefine educational offerings, supporting traders with impactful tools in the forex trading ecosystem.
Our Superior Educational Resources Verdict
To sum it up, XM truly excels in this niche due to their superior educational resources.
*Your capital is at risk ‘75.18% of retail CFD accounts lose money’
8. Better Customer Service – Eightcap
This section provides insights and information about both brokers’ better customer service. XM and Eightcap are reputable forex brokers known for excellent customer support systems. Both of these two brokers provide 24/7 assistance via phone, live chat, and email, this ensures that traders will receive timely and efficient help. Their multilingual support highlights their commitment to meeting the diverse needs of traders worldwide.
Here, we see that when comparing XM and Eightcap’s customer support, Eightcap comes with fast response times and superior efficiency based on testing scores. We also see that both brokers provide reliable 24/7 support services, but Eightcap’s multilingual capabilities and faster assistance make it the preferred choice for traders who are looking for immediate and seamless interaction. XM still offers strong support but trails slightly in responsiveness.
As per our research, Eightcap leads in customer service, thanks to their quicker response times and efficiency. Meanwhile, XM offers commendable support, and Eightcap’s superior performance ensures an enhanced experience for traders. Both brokers excel in maintaining accessibility, solidifying their positions as reliable partners in the forex trading industry.
| Feature | Eightcap | XM |
|---|---|---|
| Live Chat Support | Yes | Yes |
| Email Support | Yes | Yes |
| Phone Support | Yes | Yes |
| Support Hours | 24/7 | 24/7 |
| Multilingual Support | Yes | Yes |
Our Superior Customer Service Verdict
Evidently, Eightcap reigns supreme in this segment by reason of their superior customer service.
View Eightcap ReviewVisit Eightcap
*Your capital is at risk ‘73% of retail CFD accounts lose money’
9. More Funding Options – XM
XM and Eightcap are distinguished forex brokers in the industry who offer traders a diverse range of funding options. XM stands out with their comprehensive selection, which includes PayPal and cryptocurrencies, while Eightcap focuses on simplicity and flexibility with popular methods like credit cards, Skrill and crypto. Both of these two brokers enhance global trading accessibility.
When comparing funding options, XM takes the lead with its variety, they accommodate traders through diverse methods like PayPal and its strong and resilient cryptocurrency offering. Eightcap, on the other hand, ensures flexible and yet essential options like POLi/bPay and Neteller, this option caters to mainstream preferences. However, the drawback for XM is the $15 administration fee on their withdrawals below $200 via bank transfer, this makes Eight a more cost-efficient choice for smaller transactions. Both brokers also contribute meaningfully to traders’ convenience in managing funds.
| Funding Option | Eightcap | XM |
|---|---|---|
| Credit Card | Yes | Yes |
| Debit Card | Yes | Yes |
| Bank Transfer | Yes | Yes |
| PayPal | No | No |
| Skrill | Yes | Yes |
| Neteller | Yes | Yes |
| Crypto | Yes | Yes |
| Rapid Pay | No | No |
| POLi / bPay | Yes | Yes |
| Klarna | No | No |
Our Lower Minimum Deposit Verdict
Long story short, XM outperforms the other broker in this category on the account of their lower minimum deposit.
*Your capital is at risk ‘75.18% of retail CFD accounts lose money’
10. Lower Minimum Deposit – XM
We will explore both brokers’ low minimum deposit options. In the forex industry, both XM and Eightcap are well-regarded brokers who cater to diverse trading preferences. XM’s standout feature is its low $5 minimum deposit, which makes it highly accessible to beginners. Eightcap, on the other hand, offers a higher $100 minimum deposit but focuses on delivering flexibility and convenience for seasoned traders with their strong and durable payment options.
Here, we see that XM is ideal for new traders in the market, they offer minimum deposits as low as $5 and access to various payment channels like electronic wallets, bank wires and credit/debit cards. This accessibility ensures easier entry into forex trading. Meanwhile, Eightcap, with its $100 minimum deposit, appeals to a more experienced and seasoned trader by providing them with comprehensive funding options such as Skrill and Neteller, and POLi/bPay. Each of these brokers’ payment channels is region-specific, which ensures tailored accessibility for their global audience.
Eightcap
| Minimum Deposit | GBP | USD | EUR | AUD |
|---|---|---|---|---|
| Credit Card / Debit Card | £100 | $100 | €100 | $100 |
| Bank Wire | £100 | $100 | €100 | $100 |
| Skrill | N/A | $100 | €100 | N/A |
| Neteller | N/A | $100 | €100 | N/A |
XM
| Minimum Deposit | GBP | USD | EUR | AUD |
|---|---|---|---|---|
| Credit Card / Debit Card | £5 | $5 | €5 | $5 |
| Bank Wire | £5 | $5 | €5 | $5 |
| Electronic Wallets | £5 | $5 | €5 | $5 |
| Minimum Deposit | Recommended Deposit | |
| Eightcap | $100 | $100 |
| XM | $5 | $5 |
Finally, our dedicated team’s research reveals that XM is a top choice with its minimal deposit requirement. However, Eightcap excels in offering flexible funding methods for experienced traders. Both brokers strengthen the forex trading ecosystem and empower traders with distinct advantages tailored to different trading needs.
Our Lower Minimum Deposit Verdict
We can finally surmise that XM ranks highest in this category, this is due to their lower minimum deposit.
*Your capital is at risk ‘75.18% of retail CFD accounts lose money’
So Is XM or Eightcap The Best Broker?
Eightcap outshines in almost all categories because it offers a more user-friendly trading experience, lower spreads, and a versatile range of trading platforms. The table below summarises the key information leading to this verdict.
| Categories | Eightcap | XM |
|---|---|---|
| Lowest Spreads And Fees | Yes | No |
| Better Trading Platform | Yes | No |
| Superior Accounts And Features | No | Yes |
| Best Trading Experience And Ease | Yes | No |
| Stronger Trust And Regulation | Yes | No |
| Top Product Range And CFD Markets | No | Yes |
| Superior Educational Resources | No | Yes |
| Superior Customer Service | Yes | No |
| Better Funding Options | No | Yes |
| Lower Minimum Deposit | No | Yes |
XM: Best For Beginner Traders
For beginner traders, XM is the better choice due to its extensive educational resources.
Eightcap: Best For Experienced Traders
For experienced traders, Eightcap is the go-to for its advanced trading features and lower spreads.
FAQs Comparing Eightcap vs XM
Does XM or Eightcap Have Lower Costs?
Eightcap has lower costs. They offer spreads as low as 0 pips on their Raw account. XM’s spreads start a bit higher, making Eightcap more cost-effective. For more details on low spreads, check out our list of Lowest Commission Brokers.
Which Broker Is Better For MetaTrader 4?
Both Eightcap and XM offer MetaTrader 4, but Eightcap provides a more user-friendly experience. For more on this, visit our Best MT4 Brokers.
Which Broker Offers Social Trading?
Neither Eightcap nor XM offer social trading at this time. However, there are other brokers that do, as you can see on our best copy trading platforms page.
Does Either Broker Offer Spread Betting?
No, neither Eightcap nor XM offer spread betting. For brokers that do, check out our best spread betting brokers in the UK.
What Broker is Superior For Australian Forex Traders?
In my opinion, Eightcap is superior for Australian Forex traders. They are ASIC regulated and founded in Australia, offering a sense of trust and local expertise. For more information, visit our Best Forex Brokers In Australia page.
What Broker is Superior For UK Forex Traders?
For UK traders, XM is the better choice. They are FCA regulated and offer a range of trading platforms suitable for UK traders. For more, check out our Best Forex Brokers In UK page.
Article Sources
No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page.
Other Broker vs Broker Comparisons
Ask an Expert
How long does it take to verify a XM account?
You can apply for an account online with XM, this will take about 20 minutes to complete and will be verified by XM within 24 hours. The account opening process can be done in 21 languages including Chinese, Arabic, Thai, Vietnamese and Spanish.
What is the best XM account type for beginners?
XM offers a XM Micro account which is ideal for beginners as you can trade with lot size of 1000 rather than 10,000. This means you trades can be smaller meaning you are risking less capital but still practice with real funds.