PC
Phillip Capital
3.7 / 5Score: 3 / 4
A half-century-old MAS-regulated broker with zero minimum deposit and ultra-low commissions.
- Min deposit
- $0
- Max leverage
- 1:5
- Spread from
- 0 pips
- Regulators
- MAS, ASIC
Reviewed by Experts Updated 8/27/2026
Phillip Capital vs Eightcap: Which Broker Wins in 2026?
Phillip Capital and Eightcap are both tier-1 regulated brokers, but they serve very different types of traders. Our proprietary rating gives Phillip Capital the edge overall at 3.7/5 against Eightcap's 3.6/5, largely on accessibility and cost.
E
Eightcap
3.6 / 5Score: 1 / 4
A multi-regulated MT4/MT5 broker offering high leverage up to 1:500 for active CFD and crypto traders.
- Min deposit
- $100
- Max leverage
- 1:500
- Spread from
- 0 pips
- Regulators
- ASIC, FCA, CySEC
Overall Winner
Phillip Capital
Best for Beginners
Phillip Capital
Lowest Fees
Phillip Capital
Top Regulation
Eightcap
Side-by-side comparison
Core features compared head-to-head.
| Feature | PC Phillip Capital | E Eightcap |
|---|---|---|
| Overview | ||
| Rating | 3.7 / 5 | 3.6 / 5 |
| Founded | 1975 | 2009 |
| Headquarters | Singapore | Melbourne, Australia |
| Regulation | MAS, ASIC | ASIC, FCA, CySEC |
| Fees & Limits | ||
| Min Deposit | $0 | $100 |
| Spreads From | 0 pips | 0 pips |
| Commission | $0.08/lot | $3.5/lot |
| Max Leverage | 1:5 | 1:500 |
| Platforms & Markets | ||
| Trading Platforms | Proprietary Web, Proprietary Mobile | MT4, MT5 |
| Markets Offered | Stocks, Forex, Cfd, Indices, Commodities | Forex, Cfd, Crypto, Indices, Commodities |
Trading & non-trading fees
Min Deposit
Phillip Capital
$0
Eightcap
$100
Spreads From
Phillip Capital
0 pips
Eightcap
0 pips
Commission
Phillip Capital
$0.08/lot
Eightcap
$3.5/lot
Deposit Fees
Phillip Capital
None
Eightcap
None
Withdrawal Fees
Phillip Capital
None
Eightcap
None
Pros & cons
PC
Phillip Capital
Pros
- No minimum deposit makes account opening highly accessible
- Significantly lower commission costs than Eightcap at $0.08/lot
- Long-standing 1975 founding date builds institutional trust
- Higher overall rating of 3.7/5 versus Eightcap's 3.6/5
- Regulated by MAS, one of Asia's strictest financial authorities
- Broader traditional asset access including stocks
- No deposit or withdrawal fees
Cons
- Maximum leverage is capped at a conservative 1:5
- No MT4 or MT5 support for traders with existing strategies
- Fewer regulatory jurisdictions compared to Eightcap's three licences
- Proprietary platform lacks third-party plugin ecosystem
- No cryptocurrency market access
E
Eightcap
Pros
- Higher maximum leverage of up to 1:500
- Three regulatory licences offering broader jurisdictional coverage
- Industry-standard MT4/MT5 platforms with vast tool ecosystems
- Cryptocurrency CFD access unavailable at Phillip Capital
- Strong reputation within the online CFD trading community
- No deposit or withdrawal fees
Cons
- Higher $100 minimum deposit compared to Phillip Capital's $0
- Significantly higher commission at $3.5/lot
- Slightly lower overall rating of 3.6/5
- No direct stock market trading access
- Shorter operating history since 2009 versus Phillip Capital's 1975 founding
Our expert verdict
Editor's verdict
Overall winner Phillip Capital
Lowest fees Phillip Capital
Best regulation Eightcap
Better for beginners Phillip Capital
Phillip Capital is our recommended pick in this matchup, edging out Eightcap 3.7/5 to 3.6/5 on our proprietary rating scale. Phillip Capital wins on accessibility thanks to its $0 minimum deposit and long 1975 operating history, while Eightcap counters with higher leverage up to 1:500 and broader regulatory coverage across three jurisdictions. For most retail traders prioritizing low-cost entry and established heritage, Phillip Capital offers the stronger all-round package, though Eightcap remains compelling for leverage-hungry forex and CFD traders who want MT4/MT5 flexibility.
Regulation & Safety
Both brokers operate under tier-1 regulatory oversight, giving traders a solid baseline of confidence when it comes to fund security and operational transparency. Phillip Capital is regulated by MAS in Singapore and ASIC in Australia, two of the most respected financial authorities in the Asia-Pacific region. Eightcap, on the other hand, holds licences from ASIC, the FCA, and CySEC, spreading its regulatory footprint across three separate jurisdictions.
In terms of pure breadth, Eightcap takes the win here — its triple-licence structure offers more geographic flexibility and arguably more regulatory redundancy for traders in Europe and the UK. Phillip Capital's regulatory setup is narrower but backed by MAS, a highly stringent regulator known for strict capital adequacy rules. If regulatory diversification across multiple regions is your top priority, Eightcap has the advantage; if you value a long-standing MAS-regulated institution, Phillip Capital delivers that heritage.
Account Costs & Minimum Deposit
Cost of entry is one of the starkest differences between these two brokers. Phillip Capital requires no minimum deposit at all, making it exceptionally accessible for beginners or traders who want to test the platform without committing significant capital upfront. Eightcap requires a $100 minimum deposit, which while still modest by industry standards, is a meaningful barrier compared to Phillip Capital's zero-dollar threshold.
Neither broker charges deposit or withdrawal fees, which is a welcome parity that keeps ongoing account maintenance costs predictable for both platforms. However, Phillip Capital's commission structure of $0.08/lot is dramatically lower than Eightcap's $3.5/lot, giving Phillip Capital a clear cost advantage for high-frequency or high-volume traders. Both brokers advertise spreads starting from 0 pips, so the real cost differentiator lies in the commission layer rather than the raw spread.
Trading Platforms & Tools
Eightcap runs on the industry-standard MetaTrader 4 and MetaTrader 5 platforms, which will feel immediately familiar to the vast majority of retail forex and CFD traders worldwide. This gives Eightcap a strong advantage in terms of third-party indicator support, expert advisor compatibility, and community-driven trading tools built over nearly two decades of MT4/MT5 dominance.
Phillip Capital instead relies on a proprietary web and mobile platform suite. This approach can offer a more tailored user experience and tighter integration with the broker's own research and account management tools, but it lacks the vast ecosystem of plugins and automated trading scripts that MT4/MT5 users enjoy. Traders who already have MT4/MT5 strategies built out will find Eightcap's platform choice far more convenient, while newcomers may appreciate Phillip Capital's simplified proprietary interface.
Leverage & Market Access
Leverage is another area where the two brokers diverge sharply. Eightcap offers leverage up to 1:500, giving more aggressive traders significantly more buying power per dollar of margin. Phillip Capital caps leverage at a much more conservative 1:5, reflecting its regulatory environment and its broader focus on stocks alongside forex and CFDs.
In terms of market access, Phillip Capital covers Stocks, Forex, CFDs, Indices, and Commodities, giving equity-focused investors a genuine advantage. Eightcap's market list swaps stocks for Crypto, covering Forex, CFDs, Crypto, Indices, and Commodities — a lineup clearly built for the modern CFD and digital-asset trader rather than the traditional stock investor.
Company Heritage & Track Record
Phillip Capital was founded in 1975 in Singapore, giving it over five decades of operating history and a long-standing reputation across Asian financial markets. This kind of longevity often translates into deeper institutional relationships, more robust internal risk controls, and a broader base of legacy clients.
Eightcap is a comparatively newer entrant, founded in 2009 and headquartered in Melbourne, Australia. While younger, Eightcap has built a strong reputation within the online CFD and forex trading community, particularly among traders who prioritize MT4/MT5 access and higher leverage products. Both track records are respectable, but Phillip Capital's near half-century head start gives it a distinct heritage edge.
Our Verdict
Weighing all criteria together, Phillip Capital comes out ahead on our proprietary rating scale at 3.7/5 versus Eightcap's 3.6/5. The deciding factors are Phillip Capital's zero minimum deposit, dramatically lower commission structure, and decades of institutional heritage as a MAS and ASIC regulated firm.
That said, Eightcap is far from a weak alternative — its broader three-jurisdiction regulatory coverage, higher leverage ceiling, and industry-standard MT4/MT5 platforms make it a genuinely strong choice for forex and crypto CFD traders who want flexibility and familiar tooling. Your ultimate choice should hinge on whether you value low-cost accessibility and stock market access (Phillip Capital) or higher leverage and platform familiarity (Eightcap).
Verdict summary
The bottom line — category winners and our final pick based on ratings.
Editor's verdict
Phillip Capital wins overall
Phillip Capital edges out Eightcap overall based on our expert rating score.
PC
Highest Rated
Phillip Capital
3.7 / 5 / 5
Category winners
Overall winner
Based on overall expert rating (3.7/5).
Phillip CapitalBetter for beginners
Stronger onboarding and educational resources.
Phillip CapitalLower trading costs
More competitive spreads and baseline commissions.
Phillip CapitalStronger regulation
Higher trust based on tier-1 regulatory oversight.
Eightcap
Frequently asked questions
On our proprietary rating system, Phillip Capital scores 3.7 out of 5 compared to Eightcap's 3.6 out of 5. Phillip Capital's edge comes from its zero minimum deposit, lower commission structure, and long institutional track record dating back to 1975. Eightcap still performs well, particularly for traders who prioritize regulatory breadth and higher leverage, so the right pick depends on your individual trading priorities.
Both brokers advertise spreads starting from 0 pips, but their commission structures differ substantially. Phillip Capital charges just $0.08 per lot, while Eightcap charges $3.5 per lot, making Phillip Capital noticeably cheaper for active or high-volume traders. Neither broker charges deposit or withdrawal fees, keeping account maintenance costs equal on that front.
Phillip Capital has no minimum deposit requirement, meaning you can open and fund an account with any amount you're comfortable with. Eightcap requires a minimum deposit of $100, which is still relatively low industry-wide but represents a real barrier compared to Phillip Capital's zero-dollar entry point.
Phillip Capital is regulated by MAS and ASIC, two highly respected authorities, while Eightcap holds licences from ASIC, the FCA, and CySEC across three separate jurisdictions. Eightcap technically offers broader regulatory coverage, but both brokers operate under tier-1 oversight that provides strong baseline protections for client funds.
Phillip Capital offers its own proprietary web and mobile trading platforms, designed for simplicity and tight integration with its account tools. Eightcap instead runs on MetaTrader 4 and MetaTrader 5, the industry-standard platforms favored by traders who use expert advisors, custom indicators, and established automated strategies.
Yes, there is nothing preventing you from maintaining active trading accounts at both brokers simultaneously. Many traders deliberately diversify across platforms to access different asset classes, leverage tiers, or regulatory environments, using Phillip Capital for stocks and low-cost trading while using Eightcap for leveraged forex and crypto CFDs.
Eightcap allows leverage up to 1:500, substantially higher than Phillip Capital's maximum of 1:5. This makes Eightcap more suitable for traders who want greater buying power per unit of margin, though higher leverage also carries increased risk and should be used cautiously regardless of which broker you choose.
Phillip Capital is the clear choice for stock market investors since it offers direct access to stocks alongside forex, CFDs, indices, and commodities. Eightcap does not list stocks among its tradable markets, focusing instead on forex, CFDs, crypto, indices, and commodities, making it better suited to CFD and crypto-focused traders rather than traditional equity investors.
Eightcap supports cryptocurrency CFD trading as part of its core market offering, giving traders exposure to digital assets alongside forex and indices. Phillip Capital does not currently list crypto among its available markets, focusing instead on traditional asset classes like stocks, forex, and commodities.
Risk warning: Trading CFDs and forex involves significant risk of loss and is not suitable for all investors. Please consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.