Eightcap vs CMC Markets

2. Better Trading Platform – Eightcap

A superior forex trading platform features advanced charts, real-time data, and fast execution. It offers a user-friendly interface, customization, and strong security. It also supports automated and social trading, along with access to various financial instruments, improving decision-making and trade execution.

Based on our research, you can access MetaTrader 4 on both EightCap and CMC Markets, but its successor, MetaTrader 5, is only available on EightCap.

CMC Markets also has its own proprietary trading platform, their ‘Next Generation’ CFD platform. They also have a share-specific trading platform for you to use.

EightCap has a superior MetaTrader 4 offering than CMC Markets

MetaTrader 4 (MT4) is the most popular forex and CFD trading platform in the world, with a reputation for great ease of use and being extremely reliable. It not only has a plethora of tools and functions built into the platform but gives you scope to do much more, adding in your own widgets, and indicators or even utilising different algorithmic trading programs.

MT4’s best feature is its library of Expert Advisors, EAs. These are automated functions that can help you perform any task you might need when trading- giving you up-to-date news, identifying new trading opportunities, or even executing trading programs you craft up.

As the most popular platform in the world, MT4’s community of traders has curated the largest library of EAs and functional tools out of all trading platforms. This means that should you need a particular EA, there probably is one out there already, built by another trade who had the same problem as you.

EightCap is our recommended broker to use MetaTrader 4 to trade with, rather than CMC Markets. EightCap’s extra tools that they provide you with to enhance your trading experience simply outmatch CMC Markets, meaning you probably be better off trading with EightCap.

One of the biggest reasons why traders don’t utilise automated trading algorithms is because the barrier of knowledge needed to learn how to code effectively is too high. EightCap solves this for you by partnering with Capitalise.ai, which allows you to write a trading algorithm in plain English.

For example, if you want to buy Apple shares every time the SP500 opens up, you simply write that sentence in, and Capitalise.ai will automate your strategy for you.

EightCap provides you with bonus risk management via Amazing Trader. Amazing Trader’s algorithm dynamically adjusts to your risk preferences, and you can turn it on and off at your own discretion.

Most importantly for EightCap’s extensive cryptocurrency offerings, they offer you use of Cryptocrusher. This all-in-one crypto trading tool can give you trading ideas, provide you with sentiment analysis, and even educational resources.

CMC Markets’ main MT4 feature is their partnership with FX Blue Labs (which is also available on EightCap). This is a series of widgets giving you quick access to add-ons ranging from chart analysis to a mini terminal.

However, this is much less than what EightCap provides traders with, making EightCap our preferred broker to use MT4 with.

Only EightCap offers MetaTrader 5

MetaTrader 5 (MT5) was released as the successor to MT4 in 2010. It boasts a range of new features and tools, however most importantly, it allows you to trade on both centralised and decentralised markets. This allows you to trade more stocks and cryptocurrencies, which is unavailable on MT4, as MT4 only gives you access to centralised markets.

Extra functions by MT5 include their 38 in-built technical indicators, more than the 30 in MT4. The processing power of MT5 is 64 bits, much higher than the 32-bit processing power of MT4.

On EightCap, you greatly benefit from the extra advantage provided by MT5, as this allows you to trade more of EightCap’s extensive cryptocurrency range. The power of MT5 makes it even more attractive to use their Raw Spread account to scalp or trade at higher frequencies as well.

You will also still have access to the tools EightCap provides in MT4, such as Cryptocrusher. In fact, these tools will provide even more use for you, as Cryptocrusher can now recommend crypto trading ideas that you couldn’t act upon if you chose to use MT5.

In contrast to EightCap, CMC Markets does not offer MT5, so EightCap automatically wins our MT5 broker category

CMC Markets offers its own CFD trading platform

To compensate for their lack of MT5, CMC Markets have two proprietary platforms available for you to use.

‘Next Generation’ is their exclusive CFD trading platform, and they also have a share trading platform available.

While Next Generation comes with a wide range of in-built tools- over 115 trading indicators and 70 different chart patterns, it is not as flexible as MT4 or MT5, and restricts you to using what CMC Markets provide you with. However, it is a popular platform, with CMC Markets advertising that over 1 million people trade with it.

The CMC Markets share trading platform prides itself on its suite of equity research, with insights from Morningstar provided, as well as ‘CMC TV’, their own daily video series on the financial markets.

Another feature offered by their share trading platform is a partnership with Sharesight, which allows you to track your portfolio more easily and automatically generates tax reports for you.

Clearly, we can see here that when it comes to the trading platform, Eightcap is the standout choice. They offer a MetaTrader 4 platform that is enriched with additional tools and features, making it a more versatile and powerful platform for traders. Whether you’re a beginner or an experienced trader, Eightcap’s MT4 platform provides a more tailored trading experience.

Verdict:

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3. Superior Accounts And Features – Eightcap

Superior forex accounts offer tailored options like competitive spreads, low commissions, and advanced tools. They include demo accounts, swap-free options, and diverse financial instruments. Enhanced features such as social and automated trading and strong customer support improve the trading experience, boosting client satisfaction.

When it comes to accounts and features, both Eightcap and CMC Markets have their own unique offerings, but let’s dig into what sets them apart.

• Eightcap offers a Raw Account with STP/ECN-style features, providing a more direct market access experience.
• CMC Markets offers a Standard Account with no commission but variable spreads.
• Eightcap provides a unique feature of partnering with Capitalise.ai, allowing traders to write trading algorithms in plain English.
• CMC Markets offers a ‘Guaranteed Stop Loss Order’ (GSLO) feature, which is a safety net for traders.

Eightcap’s Raw Account is particularly appealing to those who prefer a more direct market experience. It comes with lower spreads and a commission fee, making it ideal for high-volume traders. On the other hand, CMC Markets offers a more traditional Standard Account with variable spreads and no commission, which might be more suitable for beginners or those who trade less frequently.

We presume that if you’re a high-volume trader looking for lower spreads and more advanced features, Eightcap’s Raw Account is the way to go. However, if you’re a beginner or a less frequent trader, CMC Markets’ Standard Account offers a more straightforward trading experience.

Verdict:

4. Best Trading Experience And Ease – Eightcap

The best forex trading experience includes advanced platforms, quick execution, competitive spreads, and strong support. These features enable informed decisions, smooth trade execution, and effective account management, while a user-friendly interface and educational resources enhance profitability and enjoyment.

When it comes to trading experience, Eightcap takes the cake for me. Their MetaTrader 4 offering is superior, loaded with extra tools that enhance your trading experience. It’s not just about the platform; it’s about how you can make it work for you.

• Eightcap partners with Capitalise.ai, allowing you to write trading algorithms in plain English.
• Amazing Trader is another tool that dynamically adjusts to your risk preferences.
• Cryptocrusher is an all-in-one crypto trading tool offered by Eightcap.
• Eightcap’s MT4 is more feature-rich compared to CMC Markets’ MT4.

CMC Markets, on the other hand, offers its own ‘Next Generation’ CFD platform. While it comes with over 115 trading indicators, it lacks the flexibility and extensive toolset that Eightcap provides.

We can easily surmise that for the best trading experience and ease of use, Eightcap takes the crown. Their MetaTrader 4 platform is not just about the technicalities; it’s about how seamlessly it integrates with your trading style. With features like Capitalise.ai for algorithmic trading and a more feature-rich environment, Eightcap provides a trading experience that’s hard to beat.

Verdict:

5. Stronger Trust And Regulation – CMC Markets

In forex trading, strong trust and regulation create a secure environment. Regulated brokers follow strict standards, protecting traders and fostering confidence for more investment. Trustworthy brokers attract clients and enhance their reputation.

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When it comes to trust and regulation, both Eightcap and CMC Markets have their merits. Eightcap is regulated by ASIC, which is a strong regulatory body. However, it doesn’t have the multi-jurisdictional oversight that some traders might be looking for.

• Eightcap: Regulated by ASIC
• CMC Markets: Regulated by ASIC and BaFin
• Multi-jurisdictional Oversight: CMC Markets
• Single-jurisdiction Oversight: Eightcap

On the other hand, CMC Markets is not only regulated by ASIC but also by BaFin. This gives it a broader regulatory scope, which can be a significant factor for traders concerned about the safety of their funds. So, if you’re the type of trader who sleeps better knowing your broker is watched over by multiple regulatory bodies, CMC Markets might just be the one for you.

In the world of forex trading, trust and regulation are essential. We can see thatCMC Markets emerges as a top choice among brokers, distinguished by its oversight from both ASIC and BaFin, offering traders a more secure trading environment. Conversely, Eightcap operates under the regulation of ASIC alone. For those prioritizing peace of mind and superior security, CMC Markets is strongly recommended.

Verdict:

6. Top Product Range And CFD Markets – CMC Markets

In forex trading, having a wide product range and diverse CFD markets enable traders to diversify portfolios and seize various market conditions. Brokers with extensive financial instruments, like forex pairs, commodities, indices, and cryptocurrencies, enhance profit opportunities and create a dynamic trading experience.

When it comes to the range of products and CFD markets, Eightcap and CMC Markets offer different strengths. Eightcap is particularly strong in crypto trading, offering a wide range of cryptocurrency pairs that you won’t find with many other brokers.

Based on our studies, when it comes to the range of CFDs and Markets, CMC Markets is the clear winner. They offer a staggering variety of forex pairs, stocks, and other financial instruments. If you’re looking for a one-stop-shop for all your trading needs, CMC Markets is the way to go.

Verdict:

7. Superior Educational Resources – CMC Markets

High-quality educational resources in forex trading, such as webinars, articles, videos, and structured courses, help traders improve their knowledge and strategies for informed decisions and long-term success.

Eightcap and CMC Markets both offer educational resources, but they differ in quality and depth. Eightcap focuses more on practical trading strategies, while CMC Markets offers a broader range of topics.

• Eightcap offers webinars and tutorials.
• CMC Markets provides eBooks and articles.
• Eightcap has a more user-friendly educational interface.
• CMC Markets offers more in-depth research tools.
• Eightcap provides real-time news updates.
• CMC Markets has a daily video series on financial markets.

We can presume that CMC Markets takes the lead in educational resources, based on our comprehensive testing. They offer a well-rounded educational package that includes eBooks, articles, and even a daily video series. This makes them an excellent choice for traders who are keen on continuous learning.

Verdict:

8. Superior Customer Service – CMC Markets

Superior customer service in forex trading provides timely support, fostering a confident trading experience. This includes 24/7 live chat, phone, email support, and multilingual assistance, helping traders resolve issues quickly and build trust in their broker.

Customer service is essential, so we will provide a detailed comparison of how these two brokers stack up against one another. Eightcap offers excellent customer service, as evidenced by their ‘Excellent’ TrustPilot score. CMC Markets has a ‘Great’ score but with mixed reviews.

Based on our comprehensive testing, CMC Markets takes the lead in educational resources. They offer a well-rounded educational package that includes eBooks, articles, and even a daily video series. This makes them an excellent choice for traders who are keen on continuous learning.

Verdict:

9. Better Funding Options – Eightcap

Improved funding options in forex trading offer traders flexibility and convenience through methods like bank transfers, credit cards, digital wallets (PayPal, Skrill, Neteller), and cryptocurrencies. Multiple low or no fee funding methods help traders manage accounts and transactions efficiently, enhancing their trading experience.

When it comes to funding options, both brokers offer a variety of methods. Eightcap even allows cryptocurrency deposits, which is a unique feature.

Evidently, Eightcap offers a more diverse range of funding options, including the unique feature of cryptocurrency deposits. This gives traders more flexibility and convenience, making Eightcap the better choice for those who value a variety of funding options.

Verdict:

10. Lower Minimum Deposit – CMC Markets

A lower minimum deposit in forex trading increases accessibility for beginners and traders with limited capital, allowing them to start with smaller investments. This reduces financial barriers, encourages participation, and helps traders gain experience without significant initial costs.

Eightcap requires a minimum deposit, which varies depending on your location and the type of account. CMC Markets, on the other hand, does not require a minimum deposit.

As we base these data in our recent studies, we can say that CMC Markets offers the advantage of no minimum deposit, making it more accessible for traders who are just starting out or those who prefer to trade with smaller amounts. This feature makes CMC Markets the more accommodating broker in terms of initial investment.

Verdict:

Our Final Verdict On Which Broker Is The Best: CMC Markets Or Eightcap?

Eightcap is the winner because it offers a more tailored experience for high-volume traders with its Raw Account, lower spreads, and superior customer service. Below is a table that summarises the key information leading to this verdict.

Best For Beginner Traders

For beginner traders, CMC Markets is the better choice due to its user-friendly platform and educational resources.

Best For Experienced Traders

For experienced traders, Eightcap is the go-to broker for its lower spreads and advanced trading features.