Comparison of IG vs Eightcap [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theIG vs Eightcap comparison!

Your expert: Alejandro Borja

IG

Your expert: Xavier Tarrasó

Eightcap

Main points

Fees

Average 3,4/5

Regulated

FCA, ASIC

Demo account

Yes

Low 4,3/5

Fees

ASIC, VFSC

Regulated

Yes

Demo account

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Buy and hold

Comparison of fees

Rating

4.0 – IG offers competitive spreads and a transparent fee structure for crypto CFDs. However, the inactivity fee after 24 months can be a downside for less active traders .

4.3 – Eightcap provides tight spreads and no deposit or withdrawal fees, making it a cost-effective choice for crypto trading. However, the lack of public financial information might be a concern .

Level

Average 3,4/5

Low 4,3/5

Brief explanation

IG’s commission structure for cryptocurrency trading primarily involves spreads and overnight funding fees. When trading CFDs on cryptocurrencies, IG charges a spread, which is the difference between the buy and sell price. This spread varies depending on the cryptocurrency being traded. For example, spreads for Bitcoin and Ethereum are typically lower due to higher liquidity, while smaller altcoins may have wider spreads. Additionally, IG charges an overnight funding fee if positions are held open past a certain time. This fee is based on the size of the position and the duration it is held. Unlike some exchanges, IG does not charge a direct commission per trade, making the spread the primary cost to consider. However, traders should be aware of the potential for overnight fees to accumulate if positions are held long-term. Overall, while IG’s fee structure can seem complex due to the combination of spreads and overnight funding fees, it remains competitive for those who trade actively and manage their positions effectively.

Eightcap offers competitive commissions, particularly attractive for cryptocurrency traders. The platform provides two main account types: Raw and Standard. The Raw account features lower spreads starting from 0.0 pips but incurs a commission of $3.5 per lot per trade, making it suitable for high-frequency traders seeking tighter spreads. Conversely, the Standard account has no commission but higher spreads starting from 0.5 pips . For cryptocurrency trading, Eightcap’s spreads vary significantly depending on the asset. For instance, Bitcoin spreads can range up to 12 pips, which is competitive compared to other brokers. Additionally, there are no deposit or withdrawal fees, which further enhances the cost-effectiveness of trading on Eightcap. However, traders should be aware of potential overnight financing fees if positions are held beyond a day .

IG

Year Founded: IG was founded in 1974, giving it a long-standing reputation and extensive experience in the trading industry. This longevity demonstrates its stability and reliability as a trading platform.
Number of Users: IG serves over 239,000 clients worldwide, reflecting its widespread acceptance and trust among traders. A large user base often indicates a platform's credibility and reliability.
Security Methods: IG employs top-tier security measures, including two-factor authentication (2FA), encryption protocols, and segregated client funds, ensuring that user data and assets are well-protected.
Reputation and Reviews: IG has consistently received positive reviews and high ratings from users and industry experts alike. Its commitment to transparency, customer service, and innovative tools has earned it numerous awards and recognitions.
Regulation: IG is regulated by several top financial authorities, including the UK's Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). These stringent regulatory standards provide additional assurance of its legitimacy and trustworthiness.

Eightcap

Regulation and Licensing: Eightcap is regulated by multiple top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC). These regulatory bodies are renowned for their stringent standards and oversight, ensuring that Eightcap adheres to high standards of financial practice and client protection .
Number of Users: Eightcap has grown its user base significantly since its inception, reflecting its reliability and the trust it has built among traders worldwide. The platform's expansion into various regions highlights its capability to cater to a diverse clientele, making it a trusted name in the crypto trading industry .
Security Methods Security is a top priority for Eightcap, employing advanced security protocols to protect client funds and personal information. The broker provides negative balance protection, ensuring that traders do not lose more than their account balance. This commitment to security measures gives users confidence in the safety of their investments .
Trading Volume and Liquidity: Eightcap handles a significant trading volume, offering high liquidity in its crypto CFDs. This is crucial for traders looking to execute large trades quickly without experiencing significant price slippage. The platform’s ability to manage high trading volumes efficiently is a testament to its robust infrastructure and reliability .
Transparency: Eightcap is transparent about its operations, fee structures, and regulatory compliance. This openness fosters trust among its users, as they can clearly understand the terms and conditions under which they trade. Transparency is further reinforced by the regular audits and disclosures mandated by the regulatory bodies overseeing Eightcap .

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Product selection

Native token

IG does not have a native token.

Eightcap does not have a native token.

Earns

IG does not provide staking or earning options for cryptocurrencies. It offers crypto trading primarily through CFDs .

Eightcap does not offer earning options like staking for cryptocurrencies. It provides a wide range of crypto derivatives for trading .

NFT marketplace

IG does not have an NFT marketplace.

Eightcap does not have an NFT marketplace.

Cripto/debit card

IG does not provide a card for its clients .

Eightcap does not have a card for its clients .

Payment methods

Transfers

Yes, IG accepts bank transfers for both deposits and withdrawals .

Yes, Eightcap accepts bank transfers for both deposits and withdrawals .

Mastercard

Yes, IG accepts Mastercard for deposits.

Yes, Eightcap accepts Mastercard for deposits.

Wire transfer

Wise is supported as a payment method .

Yes, Wise is supported as a payment method .

Card

Yes, IG accepts credit/debit cards (Visa, Mastercard) .

Yes, Eightcap accepts credit/debit cards .

Comparative table

IG	Features	Eightcap
IG’s low minimum trade size makes it accessible for beginners looking to start small.	Minimum Trade	Eightcap offers a low minimum trade requirement, making it accessible for traders at all levels. This encourages new traders to start small without significant financial risk.
While IG offers competitive spreads, its fee structure can be confusing and relatively high due to additional charges.	Trading and Transaction Fees	Eightcap charges competitive fees, including tight spreads from 0.1 pips and low commissions, particularly on its Raw account. This makes it an economical choice for active traders .
IG provides a limited selection of cryptocurrencies, focusing primarily on major coins like Bitcoin and Ethereum.	Number of Cryptocurrencies	With over 250 crypto CFDs available, Eightcap provides one of the most extensive selections of cryptocurrencies in the market, catering to a wide range of trading interests .
The platform mainly supports crypto-to-fiat trading, with fewer options for trading between different cryptocurrencies.	Crypto-to-Crypto Trading Pairs	While Eightcap offers a variety of fiat-to-crypto pairs, the availability of direct crypto-to-crypto trading pairs is somewhat limited, which might not meet the needs of all traders
IG excels in transparency, providing clear and detailed information about fees, regulations, and trading options.	Website Transparency	Eightcap maintains a transparent website with clear information on fees, regulatory status, and trading conditions. However, more detailed educational resources could enhance user understanding .
IG does not provide a card for its clients .	Credit/Debit Card	Eightcap does not have a card for its clients .
IG does not offer dedicated crypto wallets, as it focuses on CFD trading rather than actual cryptocurrency ownership.	Storage Offering	Eightcap does not provide crypto wallet services since it focuses on CFD trading, which means traders cannot store actual cryptocurrencies on the platform .
There are no staking or reward programs for holding cryptocurrencies on IG.	Staking and Rewards	There are no staking or reward programs available on Eightcap, which might be a disadvantage for traders looking to earn passive income through their crypto holdings .
Both the mobile app and desktop platform are well-designed, offering advanced trading tools and features.	Mobile App and Desktop	Eightcap supports mobile trading through the MetaTrader 4/5 and TradingView apps, offering robust functionality and user-friendly interfaces, but lacks a proprietary mobile app .
IG provides responsive and helpful customer service through various channels, including phone, email, and live chat.	Customer Service	Customer service is available through live chat, phone, and email, but is not 24/7, which can be limiting for traders who need immediate assistance outside of business hours .
IG offers multiple deposit and withdrawal methods, though some may incur fees, and processing times can vary.	Deposit and Withdraw	Eightcap offers multiple deposit and withdrawal methods with no fees, including bank transfers, credit cards, and e-wallets, ensuring flexibility and cost-effectiveness for users .

Key features

Analysis tools

IG provides advanced charting tools, technical indicators, and a highly functional mobile app. They also offer educational resources and risk management tools, including stop and limit orders .

Eightcap provides access to the TradingView platform, known for its advanced charting capabilities, and Capitalise.ai for algorithmic trading. They also offer the MetaTrader 4 and 5 platforms with a range of technical analysis tools .

Mobile APP

Yes, IG offers the IG Trading app, which is highly regarded and packed with features for both casual and advanced traders .

Yes, Eightcap provides mobile trading through the MetaTrader 4 and 5 apps, as well as the TradingView mobile app .

Security

IG is highly trusted and regulated by multiple top-tier authorities, including the FCA and ASIC. They offer robust security features such as two-factor authentication and SSL encryption. IG also provides negative balance protection, ensuring clients do not lose more than their account balance.

Eightcap is regulated by top-tier authorities such as the FCA and ASIC, providing a solid level of investor security. They offer negative balance protection for UK and EU clients but do not provide financial information publicly.

Additional features

IG offers a broad range of cryptocurrencies for trading via CFDs. Their platform includes robust charting tools, various order types, and 24/7 customer support. IG is regulated by top-tier authorities, ensuring a high level of security and reliability. However, their services might not be available to all regions, and they do not provide direct ownership of cryptocurrencies .

Eightcap excels in cryptocurrency CFD trading, offering access to over 250 crypto derivatives. Their trading tools include resources like Crypto Crusher for market insights and Capitalise.ai for automated trading strategies. Eightcap also supports deposits and withdrawals in digital currencies, making it convenient for crypto traders. However, they do not offer a proprietary mobile app, relying instead on MetaTrader and TradingView for mobile trading .

Anonymity

IG requires personal identification and verification documents for account opening, thus not supporting anonymous accounts .

Eightcap does not offer anonymous accounts. The registration process involves providing personal and financial information, and verification with a passport or ID and proof of residence .

Key points

Available cryptocurrencies

IG offers trading in cryptocurrency CFDs. The available cryptocurrencies are Ripple (XRP), Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), NEO, Stellar (XLM), and EOS.

Eightcap offers trading in over 250 cryptocurrency CFDs. Available cryptocurrencies include popular coins like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), as well as altcoins like Polkadot (DOT), Binance Coin (BNB), Chainlink (LINK), Stellar (XLM), EOS, and memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB).

User-friendliness

IG’s platform is well-regarded for its usability, offering a straightforward interface for trading cryptocurrencies. The platform provides access to various educational resources and customer support, making it easier for new traders to get started. IG’s robust regulatory framework and security measures also contribute to a trustworthy trading environment .

Eightcap provides a seamless and fast account opening process, making it easy for users to start trading cryptocurrencies. The platform supports multiple payment methods, including credit/debit cards and e-wallets, which adds to its ease of use. Eightcap’s trading platforms are designed to be intuitive, ensuring that users can navigate and trade efficiently without much hassle .

Value for money

IG provides excellent value for money with competitive fees and a wide range of tradable cryptocurrencies. However, its fee structure can be complex, and occasional traders may find some charges, such as inactivity fees, to be less appealing.

Eightcap provides great value with no deposit or withdrawal fees and a wide range of supported payment methods. Its tight spreads and leverage options enhance its attractiveness, although the lack of public financial information might be a concern for some.

Countries of operation

United Kingdom, European Union, Australia, United States, Singapore .

United Kingdom, European Union, Australia, Bahamas, St. Vincent and the Grenadines .

Best for

IG is suitable for traders who value a well-established, regulated platform with a range of educational resources. It’s best for those who prefer trading cryptocurrency CFDs and are looking for a comprehensive trading experience with robust security measures.

Eightcap is perfect for traders seeking a vast selection of over 250 cryptocurrency CFDs, including memecoins and altcoins. It’s well-suited for those who want to trade crypto derivatives in a regulated and secure environment.

Account

Trading

IG provides a robust platform for trading crypto CFDs, offering a variety of cryptocurrencies with leverage options. It is well-regulated and provides excellent trading tools, making it suitable for serious traders.

Eightcap supports crypto CFD trading with competitive spreads and leverage. The platform offers a range of popular cryptocurrencies, making it a good choice for traders looking for diversity in their crypto investments.

Deposit and withdrawal

IG offers free deposits and withdrawals through bank transfers, credit/debit cards, and PayPal. The process is quick and efficient, with most transactions processed within a few business days.

Eightcap supports deposits and withdrawals through bank transfers, credit/debit cards, and various e-wallets. The platform processes transactions efficiently, but some e-wallets may incur small fees.

Account opening process

IG offers a smooth and fast account opening process. Users fill out an online application form, provide personal and financial information, and submit verification documents. Accounts are usually approved within a day.

The account opening process at Eightcap is straightforward and fully digital. Users need to fill out an online form with personal and financial information and submit verification documents. Accounts are generally approved within one business day.

KYC required?

KYC verification is compulsory at IG. Users are required to submit identification documents and proof of address before they can start trading.

Yes, KYC is required at Eightcap. Users need to submit personal identification documents and proof of address to verify their accounts.

Customer Service

IG offers comprehensive customer support available 24/5 through phone, email, and live chat. The support team is known for being efficient and knowledgeable, making it easy for users to get assistance.

Eightcap offers customer support through live chat, phone, and email. The support team is available 24/5 and is generally responsive, providing helpful and timely assistance to users.

Security

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I would recommend IG for its robust and secure trading platform. IG’s long-standing reputation, coupled with its strong regulatory oversight, makes it a reliable choice for cryptocurrency trading. The platform’s user-friendly interface and comprehensive educational resources are perfect for beginners, while the advanced trading tools cater to more experienced traders. However, it’s important to be aware of the complex fee structure and limited selection of cryptocurrencies. Overall, IG is a solid option for those looking to trade cryptocurrencies through a well-established broker.

Xavier Tarrasó

As an expert on cryptocurrency investment platforms, I highly recommend Eightcap for traders looking to dive into the world of crypto derivatives. Eightcap offers an extensive range of over 250 cryptocurrency CFDs, making it one of the most comprehensive brokers in this space. Their platform is user-friendly, and the tight spreads coupled with fast order execution are ideal for day traders. Additionally, the regulation by top-tier authorities like FCA and ASIC ensures a secure trading environment. However, the lack of a proprietary mobile app and limited educational resources are areas that could see improvement to better support new traders.

Read IG review

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Read Eightcap review

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of IG vs Eightcap [ 2024 ]

IG

Eightcap

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

IG

Eightcap

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives IG and Eightcap