IG Index vs Eightcap
IG Index or Eightcap – which is better for UK traders 2024? Compare IG Index and Eightcap in this detailed breakdown of their platforms, features and fees.
IG Index | Eightcap |
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IG Index is ranked #1 among CFD brokers. | Eightcap is ranked #8 among CFD brokers. |
Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders. | Eightcap is an award-winning, FCA-regulated broker offering industry-low trading fees. They are also the highest-rated brand by TradingView’s 50 million-strong users, who can trade directly on the platform. UK traders can sign up for a live account with an accessible £100 minimum deposit. |
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. | |
Pros | |
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Cons | |
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Awards | |
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FCA Regulated | |
Yes | Yes |
Instruments | |
CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | CFDs, Forex, Stocks, Indices, Commodities |
Demo Account | |
Yes | Yes |
Minimum Deposit | |
$0 | £100 |
Payment Methods | |
Minimum Trade | |
0.01 Lots | 0.01 Lots |
Regulator | |
FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM | ASIC, FCA, CySEC, SCB, CNMV |
Mobile Apps | |
iOS & Android | iOS & Android |
Trading App | |
IG offers a superb all-round trading app. One of the pioneers of mobile trading, the application has been developed and refined over many years, meaning it is now among the best trading apps. Quick response, user-friendly layout, access to full charting and a stable and reliable application. It also offers guaranteed stops – an important risk management tool not available on many apps we’ve tested. |
Eightcap supports the MT4, MT5 and TradingView apps (the only FCA regulated broker offering TradingView), catering to mobile traders looking for advanced charting tools. While we don’t love the increasingly outdated design of the MetaTrader suite, its dozens of technical indicators and drawing tools, multiple charting styles, and straightforward overlays in horizontal mode are excellent. The push notifications and active social network on the TradingView app are also valuable additions for aspiring traders and Eightcap has published helpful videos on connecting TradingView accounts to iOS and Android devices. |
iOS App Rating | |
Android App Rating | |
Margin Trading | |
Yes | Yes |
Margin Rate | |
2.5% | |
MetaTrader 4 | |
Yes | No |
MetaTrader 5 | |
No | Yes |
cTrader | |
No | No |
AlgoTrader | |
No | No |
OmniTrader | |
No | No |
TradingView | |
Yes | Yes |
Autochartist | |
Yes | No |
eSignal | |
No | No |
Trading Central | |
Yes | No |
STP Account | |
No | No |
ECN Account | |
No | Yes |
DMA Account | |
Yes | No |
MAM Account | |
No | Yes |
PAMM Account | |
No | No |
LAMM Account | |
No | No |
Demat Account | |
No | No |
AI / Machine Learning | |
No | No |
Robo Advisor | |
Yes | No |
Negative Balance Protection | |
Yes | Yes |
Market Maker | |
Yes | No |
P2P Trading | |
No | No |
Spot Trading | |
Yes | Yes |
Auto Trading | |
Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime | TradingView Bots |
Copy Trading | |
No | No |
Social Trading | |
No | Yes |
Trade Signals | |
Yes | Yes |
VPS Hosting | |
Yes | Yes |
Tournaments | |
No | No |
Demo Competitions | |
No | No |
Ethical Investing | |
Yes | No |
Custodial Account | |
No | No |
Guaranteed Stop Loss | |
Yes | No |
Inactivity Fee | |
$12 | $0 |
Islamic Account | |
No | Yes |
Account Currencies | |
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Commodities | |
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CFD | |
IG offers a huge selection of 17,000+ CFDs, providing more trading opportunities than most CFD brokers. Traders can go long or short on popular markets like stocks, currencies, commodities and cryptos, while custom price alerts and the IG Academy continue to enhance the trading experience. | Eightcap offers a wide range of trading options with 800+ CFDs across stocks, indices, bonds, commodities, and cryptocurrencies (depending on location), with leverage up to 1:30/1:500. It excels in its tools, notably the AI-enabled economic calendar covering 25+ countries with impact filters (high, medium, low). However, its commodities offering, particularly in softs like cotton and wheat, as well as the limited precious metal and energy assets, is its weakest area. |
Leverage | |
1:30 (Retail), 1:222 (Pro) | 1:30 |
FTSE Spread | |
1.0 | 1.2 |
GBPUSD Spread< | |
0.9 | 0.1 |
Oil Spread | |
2.8 | 0.03 |
Stocks Spread | |
0.02 | 0.03 (Apple Inc) |
Forex | |
IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD. | Eightcap offers 50+ currency pairs in line with the industry average but trailing category leaders like CMC Markets with its 300+ currency pairs. However, Eightcap stands out with institutional-level spreads from 0.0 pips on major pairs like the EUR/USD, alongside low $3.50/side commissions. The broker also offers rich forex data to inform trading decisions, including key fundamentals, bullish/bearish indicators and a calendar that tracks key events in the foreign exchange market. |
Assets | |
80+ | 50+ |
GBPUSD Spread | |
0.9 | 0.1 |
EURUSD Spread | |
0.8 | 0.0 |
EURGBP Spread | |
0.9 | 0.1 |
Currency Indices | |
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IG Index | Eightcap |
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. | |
More Comparisons | |
IG Index vs |
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