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Who is Eightcap?
Eightcap is a brokerage company that has been around since 2009. They are an Australian incorporated brokerage company, with their headquarters in Sydney. Their goal is to provide their clients with a transparent pricing model that includes low rates of variable spreads and quotes performed via technological solutions through Equinix servers.
Eightcap performs a global operation through their reputable Australian HQ and other regional offices across the world, including the UK, Bulgaria and Cyprus. In addition to retail clients, this broker also brings technological advantages and partnership opportunities to affiliates, IBs and influencers.
Eightcap works towards building a home for MT4 and MT5 traders, providing them with personalized trading experience. This broker gives access to the most popular financial instruments all with rapid execution and low spreads via the award-winning MetaTrader platforms.
The official website of the Forex Broker Eightcap
➔ Open your free trading account with Eightcap now
(Risk warning: 75.59% of retail CFD accounts lose)
Eightcap Pros and Cons
If you want to trade with a reliable broker, EighCap is a good choice. It provides good technological base for trading, costs are good and there is great research included in MT4 platform. Instruments are widely presented, you can withdraw fund using various methods.
From the negative points, there is no good learning materials essential for beginners, also no 24/7 support centers.
Is Eightcap safe to trade with?
EightCap is not a scam. It is a low-risk trading broker due to a strict regulatory or compliance culture done by a reputable license and follow of regulation set by the Australian Securities and Investments Commission (‘ASIC’), recognized world authority which regulated Forex and trading industry. Therefore, as a regulated entity EightCap meets the highest standard of corporate governance, financial reporting, and disclosure. All retail client funds are kept separately from business funds in segregated bank accounts with AA-rated banking institution. Furthermore, EightCap undertakes additional protection by the professional indemnity insurance policy which all in all brings you a clear state of mind and trustable cooperation.
Also, Eightcap serves an additional entity that serves global clients from its offshore branch based in the Bahamas. Of course, we never recommend trading with offshore brokers, however since Eightcap also follows reputable license from ASIC it means the broker is sharply regulated in terms of its operation.
➔ Open your free trading account with Eightcap now
(Risk warning: 75.59% of retail CFD accounts lose)
Trading Instruments
EighthCap is a retail broker that specializes in providing financial instruments to traders. The company offers over 1000+ financial instruments, including major and minor currency pairs, oil, gold, silver, shares and cryptocurrency CFDs.
The broker recently expanded its Stock CFD Range by adding ASX Share CFDs, NASDAQ Share CFDs, NYSE Share CFDs, LSE Share CFDs and German Share CFDs. In addition to the wide range of available products, EighthCap also provides competitive pricing with the typical spread for EUR/USD at a standard 1.0 pips, as well as a raw spread of 0.0 pips. The spread for metals XAU/USD sits at 1.0 pips.
➔ Open your free trading account with Eightcap now
(Risk warning: 75.59% of retail CFD accounts lose)
Leverage
Eightcap is a Forex broker that allows its users to trade on the world’s biggest market.
When you trade with Eightcap, you are allowed to use leverage, which may increase your potential gains timely. However, in order to help traders in minimizing risks, which of course requires you to study well how to use leverage smartly, Eightcap also has specific leverage restrictions according to the trading size you operate.
Eightcap allows a leverage of 1:30, presenting its users with various market opportunities.
Account types
EighCap 2 account types offer of a simple choice between two accounts, either trade with Standard conditions with no complications all built into a spread or through Raw Account with spreads from 0.0 pips and commission for professional traders.
What is more, all trading styles are accepted, with no restrictions to use EAs or other strategies, also with flexible lot sizing and high leverage options. Regardless the account type all traders will have the same professional conditions to trade, as well as a support from the company for any requirement.
➔ Open your free trading account with Eightcap now
(Risk warning: 75.59% of retail CFD accounts lose)
Fees
EighCap have different fees depending on your account type. These are the main fees you should be aware of:
– Spreads: Standard accounts take a spread between the bid and ask price, while Raw accounts take a commission based on the volume traded. Refer to the fee comparison table below for more information on these fees.
– Rollover rate (overnight fee): This is an interest for holding positions open overnight in foreign exchange trading, and it is determined by the overnight interest rate and whether your position is buy ‘long’ or sell ‘short’.
Spreads
EightCap spreads are designed to be very competitive with the rest of the market, while still offering a choice between different types of accounts.
The Standard account offers slightly higher spreads with no commissions. However, if you are looking for interbank rates and don’t mind paying a commission per trade, you can choose our Raw account.
For instance, see below a comparison of the spread offerings:
Standard Account: 0.1 pips (USD/EUR)
Raw Account: 0.2 pips (USD/EUR)
| Asset |
Eightcap Spread |
FXTM Spread |
Fortrade Spread |
| EUR USD Spread |
0.8 pips |
1.5 pips |
2 pips |
| Crude Oil WTI Spread |
4 pips |
9 pips |
4 pips |
| Gold Spread |
4 pips |
9 |
45 |
➔ Open your free trading account with Eightcap now
(Risk warning: 75.59% of retail CFD accounts lose)
Trading Platforms
Eightcap is a broker that offers a variety of services to both novice and experienced traders. With Eightcap, the trader will have access to MetaTrader 4 and the newer MT5 platform, which has numerous advanced features and tools. Also, Traders now have an access to TradingView, which enables traders to set up a multi-monitor workspace. The proprietary developed platform is available for desktop and mobile apps with the same capabilities to view prices in real-time, monitor or access an account, and enable chat and push notifications.
MT4 provides all the necessary tools and resources that are essential for successful trading, with a range of indicators, and strategies to use.
Eightcap is a new broker that offers an innovative trading experience to its users. It is designed to be easy to use and accessible, allowing traders to have access to all of the tools they need without having to spend time learning how to use them.
Furthermore, Eightcap users will also have the ability to automate their trades without any coding knowledge. With the use of capitalise.ai Eightcap users will have access to automation and analytic tools, including backtesting, loop strategies, smart notifications, and much more.
Eightcap aims to make trading simple and accessible for everyone by providing quality customer service and an easy-to-use platform that provides everything you need in one place.
➔ Open your free trading account with Eightcap now
(Risk warning: 75.59% of retail CFD accounts lose)
Payment Methods
Eightcap clients can now deposit via Bitcoin and Tether on USD accounts only.
While you may choose at your convenience a base account currency either AUD, USD, GBP, EUR, NZD, CAD and SGD, the deposits and withdrawals will be respectively made in the same currency as the base of trading account.
The number of payment methods to fund the trading account which allows you to transfer from Demo trading to Live one including instant deposits through Visa/MasterCard, Skrill, POLi Payment, Neteller, China UnionPay and Bank Wire Transfers.
EightCap Minimum deposit
Minimum deposit is 100$ at EightCap for both account types offered. Also, EightCap does not charge any internal fees for deposits or withdrawals, yet you should note that payments from non-Australia banks may be subject to bank fees and is solely your responsibility.
EightCap minimum deposit vs other brokers
|
EightCap |
Most Other Brokers |
| Minimum Deposit |
$100 |
$500 |
Withdrawals
Withdrawing funds from the EightCap platform is simple. You can choose from a number of options, including bank transfer, debit card and ewallet. The platform does not charge any fee for deposits or withdrawals. This means that you can easily manage your fundings without worrying about conversion fees.
➔ Open your free trading account with Eightcap now
(Risk warning: 75.59% of retail CFD accounts lose)
Customer Support
We offer our traders all the tools and features you need to succeed in trading, no matter what your trading style is. Whether you’re a scalper, day trader or swing trader, we have a platform for you.
And that’s not all—all of our accounts come with flexible lot sizing, high leverage options and no restrictions on the use of EAs or other strategies!
Conclusion
EighCap is a trusted and regulated trading service provider with a simple business model built on powerful servers with centralized integration, competitive pricing from leading institutions, and access through the powerful features of popular platform MT4 along with accounts suited for various strategies. The only gap is in deep learning materials, which company does not provide; however, their support centers are showing great performance.
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AMarkets & FXTM
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REVIEW: |
ADVANTAGES: |
FREE ACCOUNT: |
1. AMARKETS
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(5 / 5)
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Related
Headquarters
Regulation
Platforms
Instruments
EUR/USD Spread
Demo Account
Minimum deposit
Education
Customer Support
