When choosing a Forex and CFD broker, two names often come up: Eightcap and Exness. Both are well-established brokers that offer a wide range of services to traders. But which one is right for you? In this comparison, we’ll take a detailed look at Eightcap vs Exness to help you make an informed decision.
Before we jump into our full review, let’s take a quick look at the comparison table to help you quickly assess the differences between the two brokers:
| Feature | Eightcap | Exness |
|---|---|---|
| Founded | 2009 | 2008 |
| Regulation | ASIC, VFSC | FCA, CySEC, FSA, FSCA |
| Trading Platforms | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5, Web platform, Mobile App |
| Account Types | Standard, Raw | Standard, Raw Spread, Zero, Pro |
| Minimum Deposit | $100 | $1 |
| Spreads | From 1.0 pips (Standard), 0.0 pips (Raw) | From 1.0 pips (Standard), 0.0 pips (Zero) |
| Commissions | $3.5 per lot (Raw Account) | Variable (depending on account type) |
| Leverage | Up to 1:500 | Up to 1:2000 (unlimited in some regions) |
| Trading Instruments | Forex, Indices, Commodities, Crypto | Forex, Metals, Indices, Crypto, Stocks |
| Deposit & Withdrawal Methods | Bank Transfer, Credit/Debit Cards, Skrill, Neteller | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, Crypto |
| Withdrawals | 1-3 business days | Instant withdrawals (for most methods) |
| Customer Support | 24/5 live chat, email, phone | 24/7 live chat, email, phone |
Company Overview
Eightcap
Eightcap is an Australian-based broker founded in 2009. It is regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). Eightcap has gained a reputation for offering a strong trading platform and excellent customer support.
Exness
Exness is a global broker that has been in operation since 2008. It is regulated by various financial authorities, including the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). Exness is well-known for its low spreads and wide range of financial instruments.
Trading Platforms
Eightcap
Eightcap offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are some of the most popular platforms in the trading world. MT4 is suitable for beginners, while MT5 is more advanced, offering extra features like more charting tools and asset classes.
Exness
Similarly, Exness also provides access to MT4 and MT5, which means both brokers offer robust and reliable trading platforms. However, Exness has an edge with its web-based trading platform and mobile app which are easy to use and highly functional. This makes Exness more flexible for traders who prefer mobile trading.
Account Types
Eightcap
Eightcap offers two main types of accounts:
- Standard Account: Suitable for beginners with no commissions and slightly higher spreads.
- Raw Account: Targets professional traders with low spreads and a commission per trade.
Both accounts are available with a minimum deposit of $100.
Exness
Exness provides a wider variety of accounts, including:
- Standard Account: Low spreads and no commission, ideal for beginners.
- Raw Spread Account: Ultra-low spreads and a small commission, suitable for more experienced traders.
- Zero Account: Zero spreads on major assets, with a commission per trade.
- Pro Account: Designed for professional traders, with no commissions and tight spreads.
The minimum deposit with Exness varies depending on the account type but generally starts as low as $1.
Spreads and Commissions
Eightcap
Eightcap’s Raw Account offers spreads starting from 0.0 pips on major currency pairs, with a commission of $3.5 per lot, per side. The Standard Account has wider spreads starting from 1.0 pips, but it comes with no commissions.
Exness
Exness provides extremely competitive spreads starting from 0.0 pips on major currency pairs with its Zero Account. The commission varies, but it tends to be lower than that of Eightcap, depending on the trading volume.
For their Standard Account, spreads typically start from 1.0 pips, with no commission, making it a cost-effective option for beginner traders.
Regulation and Safety
Eightcap
As mentioned, Eightcap is regulated by ASIC and VFSC, which ensures the broker adheres to strict financial regulations. Client funds are kept in segregated accounts to ensure safety.
Exness
Exness is heavily regulated by top-tier authorities like the FCA and CySEC, making it one of the safest brokers in the industry. Like Eightcap, Exness also keeps client funds in segregated accounts.
Deposit and Withdrawal Options
Eightcap
Eightcap offers a range of payment methods including:
- Bank Transfer
- Credit/Debit Cards
- Skrill
- Neteller
Deposits and withdrawals are processed relatively quickly, with most transactions completed within 1-3 business days.
Exness
Exness provides more flexibility with payment methods such as:
- Bank Transfer
- Credit/Debit Cards
- Skrill
- Neteller
- Cryptocurrencies like Bitcoin
Exness is known for its instant withdrawals, especially with e-wallets, making it highly convenient for traders.
Customer Support
Eightcap
Eightcap offers 24/5 customer support through live chat, email, and phone. Their support team is known for being responsive and helpful, which is important, especially for beginners.
Exness
Exness provides 24/7 customer support, which gives it an edge over Eightcap. The support is available in multiple languages via live chat, phone, and email, making it accessible to traders from different parts of the world.
Trading Instruments
Eightcap
Eightcap offers more than 200 trading instruments across different asset classes, including:
- Forex
- Indices
- Commodities
- Cryptocurrencies
Exness
Exness offers a wider range of over 120 currency pairs, making it a great choice for Forex traders. It also provides CFDs on:
- Metals
- Cryptocurrencies
- Indices
- Energies
- Stocks
Exness’ broader selection of assets makes it more appealing to traders looking to diversify their portfolio.
Leverage
Eightcap
Eightcap offers leverage up to 1:500, which is relatively high and suitable for experienced traders looking to increase their exposure.
Exness
Exness provides even higher leverage, up to 1:2000 (or even unlimited in some regions). However, higher leverage increases risk, so it’s crucial to use it wisely.
Conclusion
The choice between Eightcap vs Exness depends on your trading style and preferences:
- If you’re looking for a straightforward broker with strong regulatory oversight and excellent customer support, Eightcap is a great option. It offers competitive spreads, reliable platforms, and a good selection of trading instruments.
- On the other hand, if you prefer more account options, a wider range of assets, and the convenience of instant withdrawals, Exness might be the better choice. Its high leverage and flexible payment methods make it particularly appealing for experienced traders.
Both brokers are reliable and well-regulated, so you can’t go wrong with either. However, it’s essential to assess your individual trading needs before making a decision.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.