EightCap is an Australian incorporated brokerage company, which brings a transparent pricing model since 2009 through low rates of variable spreads with quotes that are coming from numerous leading banks or institutions and performed via technological solutions through Equinix servers. The location of the servers where the most leading financial institutions located performs lighting fast execution with access to trade on an institutional grade level. EightCap performs a global operation while operates regional offices in Shanghai also. Apart from the offering to the retail clients, the broker also brings technological advantages and premium service to corporate members, institutional clients, and money managers.
The company approaches simplicity in trading, hence brings an opportunity to trade chosen, the most popular instruments, to have access through rapid execution and low institutional spread, by the best in the industry platform MT4 and of course with the fair relation between the trader and broker.
The marker range includes access to over 60+ trading instruments that includes most major and minor currencies, oil, gold, silver and global indices. For the promised competitive offering, the broker indeed brings a nice cost with the typical spread for EUR/USD standard 0.8-1.2 pips and raw spread of 0.0-0.3 pips, or for metals XAU/USD 20-30 cents.
Licenses, Regulations & Security of funds:
In addition to technological development, EightCap also recognizes the importance of embracing strict regulatory or compliance culture, while holding a license and is regulated by the Australian Securities and Investments Commission (‘ASIC’). 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.
Trading Platforms and Tools:
The broker uses only MetaTrader4 as a platform since its numerous advanced features and tools bring a perfect combination to the technologically provided execution capacity. The proprietary developed platform is available for desktop along with Mobile apps with the same capabilities to view prices in real time, to monitor or access an account, as well enhanced by traders chat and push notifications. MT4 provides all necessary tools and resources that are essential for successful trading, with a range of indicators, advanced charts, and range of strategies to use.
Furthermore, the EightCap offers an AutoTrading solution through the industry known myfxbook, which brings an account mirroring service with allowance to connect to professional traders from the social and copy trading community. This platform enables to track, compare, analyse and share trading activities directly into your trading account. In order to be able to use the platform, the account must have a minimum balance of 1,000$.
Through 2 accounts the company offers a simple choice to the traders, either to trade with Standard conditions with no complications or through Raw Account with spreads from 0.0 pips for professional traders. All trading styles are accepted, with no restrictions to use EAs or other strategies, also with flexible lot sizing and high leverage options up to 1:500. Regardless the account type all traders will have the same professional conditions to trade, as well as a support from the company for any requirement.
– The Standard Account offered through the minimum deposit of 100$, average spread of 1.0 with no commissions, that gives an access to a full line of Forex, Commodities, and Indices with deep liquidity, which means no price manipulation or requotes, all included in the price. Account base currencies are varied to AUD, USD, EUR, GBP, NZD.
– Raw Account accommodates the needs of active trading with a little more complication, which is commission per traded lot of 3.5$ along with spread from interbank direct pricing. Usually, account holders are the first to get any new products or offerings with the same product range and deposit of 100$ to start.
Of course, in the beginning, it is better to start from the risk free Demo account, which allows practicing trading experience within 30 days.
EightCap Bonuses, the company run promotional offers from time to time to award their clients, which may be a deposit bonus or any other reward program. However, currently, the broker offers a 100$ Trading Cash Bonus for friend referral.
Methods of Payment:
The number of payment methods to fund the trading account including instant through Visa/MasterCard, Skrill, POLi Payment, China UnionPay and Bank Wire Transfers. Deposits should be made in the same currency as the base of trading account.
To withdraw the funds the client uses a secure Client Portal area while the same payment options are available. EightCap does not charge any internal fees for deposits or withdrawals, yet the client should note that payments from non-Australia banks may be subject to bank fees.
EighCap review presented a trusted and regulated service provider that is the first step in managing trading risks. The business model of EighCap is built on a simple trading without making choices complicated or confusing, yet to provide exceptional conditions. Their main offering is the technological solution of execution trough powerful servers with centralized integration, with competitive pricing provided by their relationship with leading institutions and liquidity providers. Furthermore, clients gaining an access through the powerful features of popular platform MT4 along with accounts choices that suites the strategy. The initial deposit to start is also an easy amount of 100$. The only gap is the learning materials which company does not provide, however, their support centers are showing great performance.