Eightcap vs TeleTrade 2024

Eightcap is not publicly traded and does not operate a bank. Eightcap is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and two Tier-4 regulators (High Risk). Eightcap is authorised by the following Tier-1 regulators: Financial Conduct Authority (FCA), Australian Securities & Investment Commission (ASIC), and regulated in the European Union via the MiFID passporting system.

TeleTrade is not publicly traded and does not operate a bank. TeleTrade is authorised by one Tier-1 regulator (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulator (Average Risk), and zero Tier-4 regulators (High Risk). TeleTrade is authorised by the following Tier-1 regulator: Regulated in the European Union via the MiFID passporting system.

Eightcap enhances its status as a MetaTrader-only broker with support for a suite of third-party plug-ins and access to Capitalise.ai’s algorithmic trading platform.

TeleTrade was an early pioneer of mobile apps for finance, then became a forex and CFD broker, now offering the MetaTrader platform. With just one regulatory license, Teletrade has a lower Trust Score than more established forex brokers.

To open a trading account with Eightcap, you'll need to make an initial minimum deposit of $100.

TeleTrade requires a minimum deposit of $100 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Eightcap offers Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw) for banking, whereas TeleTrade provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Eightcap offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Eightcap holds 3 global Tier-1 licenses, while TeleTrade holds 1. Both Eightcap and TeleTrade hold 0 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Eightcap (85) earned a higher Trust Score than TeleTrade (71).

To compare the trading platforms of both Eightcap and TeleTrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Eightcap offers a better experience. With research, TeleTrade offers superior market research. Finally, we found TeleTrade to provide better mobile trading apps.

Here’s what trading platforms are available at Eightcap:

• Proprietary Platform - No
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - Yes

Here’s what trading platforms are available at TeleTrade:

• Proprietary Platform - No
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - Yes
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both Eightcap and TeleTrade offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. Eightcap and TeleTrade both offer copy trading.

TeleTrade provides traders 61 currency pairs (e.g., EUR/USD) compared to Eightcap's 56 available pairs. If you are interested in trading CFDs, Eightcap offers traders access to 736 CFDs, while TeleTrade offers access to 500 CFDs; so Eightcap offers 236 more CFDs than TeleTrade.

We found in our testing that TeleTrade offers a more diverse selection of investment options than Eightcap, allowing you to trade both brokers allow traders to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Int'l Stock Trading (Non CFD), Cryptocurrency (Physical) and Spread Betting.