Eightcap
forexite
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Overview
Eightcap was founded in 2009 and is headquartered in Australia, while forexite was established in 2010 and is based in Switzerland. Eightcap holds licences including Australian Securities and Investment Commission (ASIC), while forexite is regulated by Financial Conduct Authority (FCA) among others. Eightcap serves 10,000+ clients worldwide; forexite has 10,000+. The minimum deposit is $100 at Eightcap and $250 at forexite.
| Feature | Eightcap | forexite |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F229 |
| Founded | 2009 | 2010 |
| Country | Australia | Switzerland |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Eightcap and forexite, directly affecting your bottom line as a trader. Eightcap has a lower barrier to entry with a minimum deposit of $100 (vs $250 at forexite). Both brokers charge withdrawal fees. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Overall, Eightcap scores higher on fees in our assessment.
| Feature | Eightcap | forexite |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Eightcap offers MT4, MT5, cTrader, while forexite supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | Eightcap | forexite |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Eightcap and forexite compare. forexite runs regular live webinars; Eightcap does not. forexite has a video library; Eightcap does not. forexite publishes daily market commentary; Eightcap does not. forexite integrates third-party research tools (Trading Central); Eightcap does not. forexite maintains an archive of past webinars for on-demand viewing. forexite scores higher overall in education and research.
| Feature | Eightcap | forexite |
|---|---|---|
| Forex Education | No | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Eightcap accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while forexite supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). forexite uniquely supports PayPal and Skrill and Neteller among the two brokers. forexite scores higher on deposit and withdrawal flexibility.
| Feature | Eightcap | forexite |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Eightcap and forexite offer live chat support. Both provide phone support. Email support is available at both brokers. Eightcap supports 2 languages and forexite supports 8, giving forexite broader global reach. Both brokers are comparable on support quality.
| Feature | Eightcap | forexite |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |