Eightcap
sogotrade
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Overview
Eightcap was founded in 2009 and is headquartered in Australia, while sogotrade was established in 2016 and is based in USA. Eightcap holds licences including Australian Securities and Investment Commission (ASIC), while sogotrade is regulated by Financial Conduct Authority (FCA) among others. Eightcap serves 10,000+ clients worldwide; sogotrade has 1,000,000+. The minimum deposit is $100 at Eightcap and $250 at sogotrade.
| Feature | Eightcap | sogotrade |
|---|---|---|
| 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-F307 |
| Founded | 2009 | 2016 |
| Country | Australia | USA |
| Clients | 10,000+ | 1,000,000+ |
Fees
Fees are a critical factor when choosing between Eightcap and sogotrade, directly affecting your bottom line as a trader. Eightcap has a lower barrier to entry with a minimum deposit of $100 (vs $250 at sogotrade). 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 | sogotrade |
|---|---|---|
| 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 sogotrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Eightcap supports social and copy trading features, which sogotrade does not offer. The two brokers are closely matched on platform offering.
| Feature | Eightcap | sogotrade |
|---|---|---|
| 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 sogotrade compare. sogotrade runs regular live webinars; Eightcap does not. sogotrade has a video library; Eightcap does not. sogotrade publishes daily market commentary; Eightcap does not. sogotrade integrates third-party research tools (Trading Central); Eightcap does not. sogotrade maintains an archive of past webinars for on-demand viewing. sogotrade scores higher overall in education and research.
| Feature | Eightcap | sogotrade |
|---|---|---|
| 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 sogotrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). sogotrade uniquely supports PayPal and Skrill and Neteller among the two brokers. sogotrade scores higher on deposit and withdrawal flexibility.
| Feature | Eightcap | sogotrade |
|---|---|---|
| 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 sogotrade offer live chat support. Both provide phone support. Email support is available at both brokers. Eightcap supports 2 languages and sogotrade supports 8, giving sogotrade broader global reach. Both brokers are comparable on support quality.
| Feature | Eightcap | sogotrade |
|---|---|---|
| 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 |