IFX Brokers vs Eightcap

IFX Brokers vs. Eightcap

We spent many hours thoroughly examining the best-in-class Forex brokers for 2022. Here, we take a closer look at IFX Brokers vs. Eightcap.

Which offers better pricing – IFX Brokers or Eightcap?

IFX Brokers offers tight spreads of 0.2 pips for the EUR/USD currency pair, which are very competitive. Eightcap does not provide its spread for these currency pairs, though the broker does provide both ECN and agency execution.

Which broker offers more security when trading Forex and CFDs?

IFX Brokers is a fully licensed and regulated Forex broker that is based in South Africa. As such, IFX Brokers is overseen by the Financial Sector Conduct Authority (FSCA) of South Africa, which is the primary regulator of the financial markets in the country.

Trusted by traders in South Africa, Eightcap is a top choice. It is registered in Vanuatu and subject to oversight by the Australian Securities and Investments Commission (ASIC) and the Securities Commission of the Bahamas (SCB).

The Eightcap Global Limited subsidiary, which South Africans will use to trade under, is governed by the Securities Commission of the Bahamas (SCB).

Which broker offers the superior trading platform?

MetaTrader 4 and MetaTrader 5, two of the top trading platforms available, are available through IFX Brokers. This means traders will have convenient access to numerous resources, a broad selection of trading tools, and lightning-fast trade execution.

Do these brokers both offer MetaTrader?

Yes, IFX Brokers offers access to both MT4 and MT5, while Blackstone Futures only provides access to MT4.

How many Forex pairs can I expect from these brokers?

IFX brokers provides access to 60 currency pairs, while Blackstone Futures only provides access to 32 currency pairs.

Is it safe to trade with IFX Brokers?

Yes, IFX Brokers is a regulated Forex broker with a South African basis that possesses a complete FSCA licence. The numerous financial institutions in the nation are under the direction of the Financial Sector Conduct Authority (FSCA).

The Financial Sector Conduct Authority (FSCA) was established with the aim of protecting investors by promoting fair treatment and educating people on various financial matters, as well as to promote and maintain the efficiency and integrity of financial markets.

Is it safe to trade with Blackstone Futures?

Yes, Blackstone Futures is also regulated by the FSCA in South Africa, so that local traders will receive full deposit security and a transparent trading environment.

Who is IFX Brokers?

IFX Brokers, a South African Forex broker, is well-regulated and has a large client base. Customers of IFX brokers can access the world’s most popular and profitable trading platforms, MetaTrader 4 and MetaTrader 5.

These systems have improved charting features, cutting-edge order management programmes, and a bilingual user interface that allows charts to be laid out in a variety of ways.

MetaTrader 4 or 5 can easily be utilised on iOS and Android devices without the need for additional software.

Customers of IFX Brokers have access to a wide range of trading products. Currency, indices, contracts for difference (CFDs), spot metals, energy, commodities, and virtual currencies are examples of financial goods.

IFX clients can also trade in 60 currency pairings, precious metals (gold, silver, platinum, and palladium), natural gas, and oil.

The smallest transaction value is 0.01 lot, however a regular account requires a $100 deposit in US currency. The account basis currencies are the South African Rand, US Dollars, and Euros, in that order.

Instead of an actual account, you can use a “practise account.”

Customers of IFX brokers can simply fund and withdraw funds from their accounts by utilising Pay Quick, Visa, or MasterCard credit cards, among other alternatives.

The nicest part about it is that there are no fees for deposits or withdrawals. For South African customers, the withdrawal process can be completed in as little as two to five hours.

Customers outside of the country, on the other hand, must wait four to five business days to complete the withdrawal process.

Who is Eightcap?

Eightcap is appealing to cryptocurrency traders who are experienced with the MT4 and MT5 trading platforms and are searching for a wide variety of cryptocurrency possibilities because it offers two accounts with simple requirements and inexpensive minimum deposits.

Eightcap is a highly regulated broker that provides trading on foreign exchange (Forex), indices, commodities, share CFDs, and over 250 different cryptocurrencies. This range of offerings is the most comprehensive in the business.

Eightcap provides three different types of accounts: two live accounts and a demo account. Both of its live accounts require a minimum deposit of one hundred Australian dollars (or the equivalent in another currency), which makes them enticing to new traders.

The fees for the Standard Account are already included in its variable spreads, which have an average value of 1 pip on the EUR/USD pair. On the other hand, the Raw Spread Account has competitive spreads of 0.1 pips (EUR/USD) in exchange for a commission of 7 USD (round turn).

Eightcap provides full support for both MT4 and MT5, in addition to offering a premium toolset developed by FX Blue Labs.

This toolset features an extensive array of complex alarms and messaging systems, as well as realtime sentiment and correlation tracking. Capitalise.ai is an additional service provided by the company. This is a platform that assists clients in developing automated trading strategies utilising a language that does not require coding.

Although Eightcap’s Forex education and analysis are not as in-depth as those offered by some of its larger rivals, the company’s customer support is available in 10 languages, is responsive and knowledgeable, and has a wide range of language skills.

Eightcap’s two accounts each feature a requirement for a minimum deposit of one hundred Australian dollars (or the equivalent in another currency), making them suitable for novice traders.

Beginner traders should typically look for trading accounts that have lower required initial deposits and that provide them the ability to trade in micro-lots.

 Spreads on these accounts are typically bigger than those on accounts that demand a higher minimum deposit, but this is not the case at Eightcap, which has requirements for a modest initial deposit and spreads that are around average for both of its accounts.

In general, experienced traders have a tendency to favour trading accounts that require a greater minimum deposit and have tighter spreads. Again, this trade-off does not take place at Eightcap because both accounts have minimal required initial deposits; nevertheless, the Raw Spread Account does offer tighter spreads in return for a respectable commission rate.

Trading strategies such as hedging, scalping, and copy trading can be executed on the Eightcap platform.

In addition, demo versions of both accounts are offered, and traders have access to 45 currency pairs, 11 indices, 4 commodities, 258 share CFDs, and 250 cryptocurrency pair options. According to the rule of the SCB, the maximum leverage that South African traders are allowed to use on key Forex pairs is up to 500:1.

Although Eightcap’s trading tools aren’t as comprehensive as those offered by other brokers, those it does offer are invaluable to traders.

Capitalise.ai is a platform for developing algorithmic trading strategies without the need for a coding background.

Investors using Capitalise.ai can construct and manage an automated trading model with customizable time frames and triggers for entering and exiting trades. It also offers a variety of tech indicators that anyone may grasp.