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Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.
In the fast-paced world of forex trading, choosing the right broker is crucial. Eightcap and FxPrimus are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between Eightcap and FxPrimus across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated Eightcap and FxPrimus, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.
In our comparison:
Based on these findings, Eightcap earned a higher trust rating than FxPrimus.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that Eightcap has overall lower trading costs than FxPrimus.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both Eightcap and FxPrimus offer copy trading.
A broader range of CFD instruments provides more trading opportunities. Eightcap offers a greater variety of instruments compared to FxPrimus:
For those interested in trading cryptocurrencies, Eightcap offers 100 cryptocurrencies, while FxPrimus offers 4 cryptocurrencies. Therefore, Eightcap is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that neither Eightcap nor FxPrimus charges a withdrawal fee. Overall, FxPrimus has better deposit and withdrawal processes than Eightcap.Â
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.Â
Eightcap and FxPrimus both have moderate educational support. Both Eightcap and FxPrimus offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that Eightcap offers better research analysis than FxPrimus and that both Eightcap and FxPrimus offer frequent webinars.
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 USD (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.
FXPRimus does NOT accept South African clients. This review is for educational purposes only.
With a strong focus on customer satisfaction, FXPrimus is renowned for its personalised customer support, free deposits and withdrawals, and provision of negative balance protection for all clients. Â However, trading fees on its entry-level accounts are significantly higher than other brokers.Â
Globally acclaimed for offering one of the fastest and most secure online trading environments, FXPrimus's trading platform support is one of the best in the industry, with MT4, MT5, and cTrader all available. It also offers a number of trading tools, including a VPS service at an extra cost, FIX API, and premium trader tools.Â
FXPrimus's entry-level accounts accommodate beginner traders with minimum deposits of 15 USD, spreads averaging at 1.50 - 1.7 pips on the EUR/USD, which is wider than other brokers, but with no commissions. Its other accounts offer very competitive spreads which will appeal to more experienced traders, but these have higher minimum deposits.
A multi-asset broker, FXPRIMUS offers trading on Forex, commodities, indices, share CFDS, and cryptocurrencies, but the number of assets in each class is limited compared to what's available at other brokers. It also lacks in educational and market analysis content, forcing traders to self-educate with other third-party materials.
For more detailed reviews, please read our comprehensive assessments of Eightcap and FxPrimus.
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Broker | Countries Regulated | Minimum Spread EUR/USD | Minimum Deposit | Trading cost/lot EURUSD Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission. | Broker Score | Broker Website | Select and Compare |
|---|---|---|---|---|---|---|---|
 |       | 0.10 pips | USD 3 | USD 7 | |||
 |   | 0 pips | USD 0 | USD 10 | |||
 | | 0.10 pips | USD 200 | USD 8 | |||
 |  | 0.70 pips | USD 10 | USD 17 | |||
 | | 0 pips | AUD 0 | USD 4.50 | |||
 |    | 0.90 pips | USD 100 | USD 9 | |||
|  | 0.60 pips | USD 5 | USD 6 | |||
 | | 0 pips | USD 0 | USD 10 | |||
 | | 0.70 pips | USD 5 | USD 7 | |||
 | | 0 pips | USD 100 | USD 6 |
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Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.
