Eightcap vs Libertex (Forex Club) Comparison
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Eightcap vs Libertex (Forex Club).
Can I trust Eightcap?
Eightcap has a trust score of 87, giving it a "Trusted" trust label. Here's what each trust score label means:
- "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
- "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
- "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
- "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
- "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.
Can I trust Libertex (Forex Club)?
Libertex (Forex Club) has a trust score of 72, giving it a "Average Risk" trust label.
Is Eightcap a good broker?
Eightcap is an up and coming broker that boasts a large range of cryptocurrency CFDs, alongside several MetaTrader plugins and related tools. That said, it's offering is otherwise limited in terms of the number of symbols you can trade, and the scope of its educational and reserach materials available could stand to improve.
Is Libertex (Forex Club) a good broker?
Forex Club has long been a MetaTrader broker, though its more recent Libertex brand in Europe also offers a proprietary platform. That said, Libertex has fewer regulatory licenses than its peers, resulting in a below-average Trust Score.
What tier-1 jurisdictions is each broker regulated in?
Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. Eightcap is Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised), while Libertex (Forex Club) is none.. Neither have Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)
What tier-2 jurisdictions is each broker regulated in? What about tier-3?
Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, both Eightcap and Libertex (Forex Club) are Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses Eightcap is Bahamas (SCB Authorised) and Vanuatu (VFSC Authorised), while Libertex (Forex Club) is none.. Neither have Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised) and Mauritius (FSC Authorised).
Which broker offers more trading platforms?
For trading platforms Eightcap supports a Desktop Platform (Windows), whereas Libertex (Forex Club) supports a Proprietary Platform and Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade
Does Eightcap offer MetaTrader? Does Libertex (Forex Club) offer MetaTrader?
For MetaTrader Eightcap provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Libertex (Forex Club) provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.
How do Eightcap and Libertex (Forex Club) differ in terms of minimum deposit? What about average spreads and funding options?
Eightcap requires a minimum deposit of $100, while Libertex (Forex Club) requires a minimum deposit of $10. From our testing we found Eightcap offers spreads of 1.0, while Libertex (Forex Club) offers spreads of N/A. Eightcap supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where Libertex (Forex Club) supports Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).
Which brokers offers more tradeable asset classes, Eightcap or Libertex (Forex Club)?
Eightcap offers a more diverse selection of investment options than Libertex (Forex Club) allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, Eightcap has 736, compared to 300 from Libertex (Forex Club).
Can I trade cryptocurrency with Eightcap or Libertex (Forex Club)?
Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither Eightcap nor Libertex (Forex Club) allow you to trade physical cryptocurrencies.
Who offers more research tools, Eightcap or Libertex (Forex Club)?
In terms of research and research tools Eightcap gives traders the following tools: Daily Market Commentary and Social Trading / Copy Trading. In comparison Libertex (Forex Club) has the tools listed here: Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.. Neither have Autochartist and Trading Central (Recognia)
Overall winner: Eightcap
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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.