Eightcap
Westpac
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Overview
Eightcap was founded in 2009 and is headquartered in Australia, while Westpac was established in 2008 and is based in Austrailia. Eightcap holds licences including Australian Securities and Investment Commission (ASIC), while Westpac is regulated by Financial Conduct Authority (FCA) among others. Eightcap serves 10,000+ clients worldwide; Westpac has 10,000+. The minimum deposit is $100 at Eightcap and $50 at Westpac.
| Feature | Eightcap | Westpac |
|---|---|---|
| Min. Deposit | $100 | $50 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) |
| Founded | 2009 | 2008 |
| Country | Australia | Austrailia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Eightcap and Westpac, directly affecting your bottom line as a trader. Eightcap has a lower barrier to entry with a minimum deposit of $100 (vs $50 at Westpac). Eightcap charges withdrawal fees while Westpac does not, a notable advantage for frequent withdrawers. Eightcap applies inactivity fees on dormant accounts; Westpac does not. Westpac charges deposit fees; Eightcap does not. Overall, Westpac scores higher on fees in our assessment.
| Feature | Eightcap | Westpac |
|---|---|---|
| Min. Deposit | $100 | $50 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
Eightcap offers MT4, MT5, cTrader, while Westpac 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 | Westpac |
|---|---|---|
| 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 | Desktop,Mac,iPhone,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Eightcap and Westpac compare. Westpac runs regular live webinars; Eightcap does not. Westpac has a video library; Eightcap does not. Westpac publishes daily market commentary; Eightcap does not. Westpac integrates third-party research tools (Trading Central, Autochartist); Eightcap does not. Westpac maintains an archive of past webinars for on-demand viewing. Westpac scores higher overall in education and research.
| Feature | Eightcap | Westpac |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | Yes |
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 Westpac supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Eightcap | Westpac |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Eightcap and Westpac offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Eightcap | Westpac |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |