Eightcap Vs. Oanda - Compare Trustworthiness, Capabilities, Fees and Legitimacy

Eightcap is an Australian MT4 & 5 CFD broker founded in 2009 that specialises in currency, commodities, indices, stocks and cryptocurrency trading.

Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms.

• Traders familiar with MT4 and MT5 platforms
• High volume traders looking for their specific asset offering combined with their Raw account’s low spreads
• Cryptocurrency speculators looking for CFDs on major pairs with low spreads

• Forex traders of all levels (from beginner to advanced)

• ASIC (Australia)
• SCB (Bahamas)

• CFTC (U.S)
• NFA (U.S)
• ASIC (Australia)
• FCA (UK)
• MAS (Singapore)
• IIROC (Canada)
• FFAJ (Japan)
• BVI (British Virgin Islands)

• Low spreads offered in their raw account
• Wide variety of cryptocurrency pairs with low spreads

• High trustworthiness, regulated by the best regulators in the world
• Fast, simple and professional trading platforms
• Competitive spreads in their currency pairs

• Asset offering is low when compared to similar brokers
• Standard account spreads are relatively high (from 1 pip)
• All assets are CFDs, there is no ability to buy real shares

• Extremely limited offering of assets (104)
• No ability to purchase real stocks or cryptocurrencies, only CFDs

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• Valid identity document (Passport, ID Card, etc)
• Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

• Valid identity document (Passport, ID Card, etc)
• Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

• Visa
• Mastercard
• Skrill
• Neteller
• Paypal
• Bank Transfer
• Fasapay
• POLi Payment
• CUP (China Union Pay)
• BPAY

• Visa
• Mastercard
• Bank Transfer
• Paypal

US, CA, SY, IR, CY.

AF, AL, BS, BB, BW, BF, BI, KH, KY, CF, TD, CD, CG, CU, ER, ET, GH, IR, IQ, JM, KP, LY, MU, MN, MA, MM, NI, NG, PK, PS, PA, SN, SL, SO, SS, SD, SY, TT, TN, UG, VU, YE, ZW.

$10 after 1 year of inactivity.

Credit and Debit cards are free, when it comes to Bank transfer depends on the account's base currency (eg: the first withdrawal costs $, €, £ 20 and any subsequent ones 35). In the case of SGD, there are no fees.

Depending on account type:

• Standard account has no commissions but spreads start from 1 Pip
• Raw account has a $3.5 commission per lot round turn but spreads start from 0 Pips