Eightcap
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Vs.

XM
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74.07% of retail CFD accounts lose money.

Eightcap Vs. XM - Compare and Choose the Right One

Updated Dec 19 2021

Visit

Your capital is at risk.

Visit

74.07% of retail CFD accounts lose money.

Overview

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

XM is an international broker headquartered in Cyprus which offers MetaTrader 4 & 5 and over 1500 + tradable assets.

Best For
  • 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
  • Experienced traders looking to trade shares in high volume using their Zero account
  • MetaTrader users wishing to explore XM's offering while maintaining their preferred platforms
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The Good
  • Low spreads offered in their raw account
  • Wide variety of cryptocurrency pairs with low spreads
  • Competitive commissions on their Zero account
  • Modest asset offering of 1500+ tradable instruments (similar to competitors in the same range)
The Bad
  • Asset offering is low when compared to similar competitors
  • Lacks platform variety as only MT4 & 5 are available
  • All assets are CFDs, there is no ability to buy real shares
  • No proprietary platforms or technology
  • Expensive spreads and trading fees
  • Lack of asset variety when compared to other brokers in the same range
Status
Operational Operational
Recent News
1 Day N/A
Key Data
⌛ Account Opening Time
1 Day 1 day
📋 Documents Required
  • 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.

🏛 Financial Regulators
  • ASIC (Australia)
  • SCB (Bahamas)
  • ASIC (Australia)
  • CySec (Cyprus)
  • ADGM (United Arab Emirates)
📍 Year Founded
2009 2009
💳 Minimum Deposit
$100 €, £, $ - 5
💰 Payment Methods
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Paypal
  • Bank Transfer
  • Fasapay
  • POLi Payment
  • CUP (China Union Pay)
  • BPAY
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill
💵 Account Base Currencies
7 - AUD, CAD, EUR, GBP, NZD, SGD, USD. 11 - USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR.
🗽 Available to U.S Citizens
No NO
❌ Restricted Countries

US, CA, SY, IR, CY.

US, CA.
📊 STP Account
No No
📊 DMA Account
No No
📊 ECN Account
No No
Assets
📚 Available Assets

CFDs on stocks, commodities, indices, currencies and cryptocurrencies.

CFDs on stocks, commodities, currencies and indices.

📙 Stocks
600+ 1286
📘 Currency Pairs
45 57
📗 Commodities
5 15
📕 Indices
15 14
📔 ETFs
N/A N/A
💸 Cryptocurrencies
250+ N/A
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A 10
📝 Notes:

All of Eightcap’s assets are CFDs.

All of XM's assets are CFDs.
Trading Experience
📈 Minimum Stock Trade Size
$1,000 (0.01 Lots) Fractional Share trading - Varies per stock (Eg: 0.1/16 of ADBE shares)
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
$1,000 (0.01 Lots) N/A
📉 Minimum FX Trade Size
$1,000 (0.01 Lots) $100 (0.001 Lots)
📈 Minimum Commodities Trade Size
$1,000 (0.01 Lots) Varies by Commodity (Eg: 0.01 Troy ounce of Gold)
📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
N/A All of XM's futures are commodities, same rules apply.
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:500 N/A
✍ Customisable Leverage
Yes Yes
🎲 Deleveraged Trading
No No
🎓 Demo Account
Yes Yes
📱 IOS App
No No
📱 Android App
No No
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
Yes Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
No No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No Yes
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee
No

Yes, $15 one time payment after 1 year of inactivity and then $5 monthly.

💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions

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

Yes on Zero accounts ($7 per lot round turn).

Spreads
📈 EUR/USD
From 0 to 1 Pip Dynamic - From 1.7 Pips
📉 SP500
From 40 Pips Dynamic - From 40 Pips
📈 GOLD
From 21 Pips Dynamic - From 35 Pips
📉 TSLA (Stock CFD)
N/A Dynamic - From $9.4
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $16 N/A
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
No Yes
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No

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