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CM Trading vs Eightcap - 2024 Comparison | FxScouts
AuthorAuthor: Björn MichelsUpdated: October 12, 2023

Last Updated On October 12, 2023

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

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Broker Score
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.48/ 5 USD 100FSCA Regulated Forex BrokersThe Seychelles Financial Services AuthorityMarket MakerCommodities, Cryptocurrencies, Stock CFDs, Forex, Indices, Metals5023
  • Good for beginners
  • Great customer support
  • Copy trading accounts
  • Expensive withdrawals
  • Local regulation only
Read Review 111003/ 5 111104/ 5 111104/ 5 100001/ 5 1110.503.5/ 5 111104/ 5 11110.54.5/ 5 73%200:11.50 pips Bronze, Gold, Gold ECN, Platinum, Premium, Silver MT4, WebTraderBank Transfer, Visa, Mastercard, Neteller, FasapayFees Included in Spread
11110.54.53/ 5 AUD 100ASIC Regulated Forex BrokersSecurities Commission of the BahamasFCA Regulated BrokersCySEC Regulated BrokersMarket Maker NDDCommodities, Cryptocurrencies, Stock CFDs, Forex, Indices, Metals55100
  • Great platform choice
  • Excellent education
  • Limited demo account
  • No swap-free account option
Read Review 111115/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 111104/ 5 0500:10 pips Raw, Standard MT4, MT5, TradingViewBank Transfer, Visa, Mastercard, Skrill, Neteller7 USD / lot

How do Eightcap and CM Trading stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

CM Trading

Eightcap

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare Eightcap and CM Trading, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does Eightcap or CM Trading have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that Eightcap holds three Tier 1 and no Tier 2 licences, and CM Trading holds no Tier 1 and no Tier 2 licences.

 

Is Eightcap financially regulated?

Yes Eightcap was founded in 2009 and is regulated by ASIC, CySEC, FCA and SCB.

 

Is CM Trading financially regulated?

Yes CM Trading was founded in 2013 and is regulated by FSCA and FSA-Seychelles.

 

Based on these findings, Eightcap earned a higher trust rating than CM Trading.

Does Eightcap or CM Trading have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Eightcap has overall lower trading costs than CM Trading. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
CM Trading
111104/ 5
EUR, USD
1.50 pips
USD 15
1.70 pips
2.60 pips
1.70 pips
USD 0
Eightcap
11110.54.5/ 5
AUD, CAD, EUR, GBP, NZD, SGD, USD
1.00 pips
USD 10
0.06 pips
0.73 pips
0.23 pips
USD 0

 

Does Eightcap or CM Trading offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, Eightcap offers support for and CM Trading offers support for . 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both CM Trading and Eightcap offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
CM Trading
111104/ 5
WebTrader
Eightcap
11110.54.5/ 5
TradingView

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Eightcap offers a greater range and depth of instruments to trade than CM Trading. Eightcap offers 55 Forex pairs to trade and CM Trading offers 50 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, Eightcap offers 100 cryptocurrencies while CM Trading offers 23 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Eightcap.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither CM Trading nor Eightcap charges a withdrawal fee. Overall, Eightcap has better deposit and withdrawal processes than CM Trading. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

CM Trading and Eightcap both have moderate educational support. Both CM Trading and Eightcap offer educational support for more experienced traders.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
CM Trading
Medium
Eightcap
Medium

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that 0 offers better research analysis than 0 and that both CM Trading and Eightcap offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
CM Trading
Eightcap

 

Our overall Verdict on Eightcap

With two simple low deposit accounts, Eightcap offers appeals to cryptocurrency traders who are familiar with the MT4 and MT5 trading platforms looking for a large range of cryptocurrency options.   

A well-regulated broker, Eightcap offers trading on Forex, indices, commodities, share CFDs, and over 250 cryptocurrencies, the largest set in the industry.    

Eightcap offers two live accounts and a demo account. Both of its live accounts have a minimum deposit of 100 AUD (or currency equivalent), making them appealing to beginner traders.  The Standard Account has fees included in its variable spreads, which average at 1 pip on the EUR/USD, while its Raw Spread Account offers competitive spreads of 0.1 pips (EUR/USD) in exchange for a commission of 7 USD (round turn).  

Both MT4 and MT5 are fully supported, and Eightcap offers a premium toolset by FX Blue Labs that includes an array of sophisticated alarms and messaging systems, and live sentiment and correlation tracking.  It also offers Capitalise.ai, a platform that helps customers create automated trading strategies using intuitive non-coding language.  

While Forex education and analysis are not as comprehensive as some of Eightcap’s larger competitors, customer service is available in 10 languages and is responsive and knowledgeable.

Our overall Verdict on CM Trading

Founded in 2012 in Johannesburg, CM Trading is an FSCA-regulated broker with a few drawbacks. It offers six accounts on two different trading platforms, but both its minimum deposits and ongoing trading costs are higher than other brokers. 

Another drawback is the lack of ZAR trading accounts: Any Rand deposits are converted to USD or EUR, and profits will have to be converted again when withdrawn. CM Trading also charges higher deposit and withdrawal fees than other brokers, which in combination with currency conversion fees, may discourage some South African traders. 

On a positive note, CM Trading has a local South African customer service team that provides platform support and one-on-one training. South African traders will also benefit from local FSCA protection, which means that their money will be segregated at top-tier South African banks.

Which broker has the highest overall rating?

Eightcap has an overall rating of 4.53 and CM Trading has an overall rating of 3.48. For more detail please read our reviews of Eightcap and CM Trading.

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