In forex trading, the spread is the biggest cost of trading. The spread is the difference between the bid and ask price, and the lower the spread the better for the trader.
We compare IC Markets vs Eightcap based on trading accounts, spreads and trading platforms. IC Markets spreads start from 0.6 pips for the standard account while Eightcap has 250 cryptos when using the MT5 trading platform.
Find out more in our review.
Broker search: https://www.brokersview.com/trading-compare
Which Broker Has The Lower Minimum Deposit?
IC Markets does not have a minimum deposit to open an account, but they advertise a starting deposit of $200. Most traders will need this amount to meet the margin requirements to open a trading position.
If you are in Australia, you will need $500 to open a Standard account with Eightcap and $250 to open a Raw account. If you are outside Australia you will only need $100 and this is good for either Account.
Neither broker charge fees when making a deposit or withdrawal, however, there may be fees by the funding provider,
Funding options available include Visa, Mastercard, POLi & BPay for Australia, Bank transfer, PayPal, Neteller, Skrill and Union Pay (China) and FasaPay (Indonesia). Eightcap also has a few other funding options including Cryptocurrencies, Worldpay, PayRetailers (for South America).
Overall, IC Markets wins this category with their $0 deposit requirement. However, both brokers do offer all the funding methods you are likely to need and Eightcap are your best option if you wish to use cryptocurrencies for funding.
