- Is Eightcap safe or a scam?
- Trading Platform
- Deposits and Withdrawals
Who is Eightcap?
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.
Eightcap performs a global operation through their reputable Australian HQ and other regional offices across the world, including the UK, Bulgaria and Cyprus.
Apart from the offering to retail clients, this broker also brings technological advantages and partnership opportunities to affiliates, IBs and influencers.
10 Points Summary
|🖥 Platforms||MT4, MT5|
|📉 Instruments||Currencies, oil, gold, silver, global indices, shares and cryptocurrencies|
|💰 EUR/USD Spread||1.0 pips Standard Account|
|🎮 Demo Account||Provided|
|💳 Minimum deposit||100$|
|💰 Base currencies||USD, AUD|
|📚 Education||Analysis and research|
|☎ Customer Support||24/5|
Eightcap works towards building a home for MT4 and MT5 traders and aims to provide them with a 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 trader has access to over 250 financial instruments, including major and minor currency pairs, oil, gold, silver, shares and cryptocurrency CFDs.
Going deeper into a promised competitive offering, the broker indeed brings excellent costs 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.
Is Eightcap safe to trade with?
In addition to consistent technological developments, Eightcap also recognizes the importance of embracing a strict regulatory and compliant culture. This is achieved by holding a reputable license and following strict regulatory restrictions set by the Australian Securities and Investments Commission (‘ASIC’), a recognised world authority that regulates the Forex and CFD industry.
Therefore, as a regulated entity, Eightcap meets the highest standard of corporate governance, financial reporting and product disclosure. All retail client funds are kept separately from business funds in segregated bank accounts with an AA-rated banking institution.
Furthermore, Eightcap undertakes additional protection by the professional indemnity insurance policy, which all in all provides you with the peace of mind and trust needed.
With Eightcap, the trader will have access to MetaTrader 4 and the newer MT5 platform, which has numerous advanced features and tools. 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.
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.
Of course, there is a lot to consider while selecting a trading account. Therefore, through Eighcap’s two account types, there is an offer of a simple choice, either trade with Standard conditions, with no complications all built into a spread, or through the Raw Account with spreads from 0.0 pips and commission applied.
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 of the account type all traders will have the same professional conditions to trade, as well as support from the company for any requirement.
Eightcap spreads as mentioned earlier designed at the account you use, while Standard account offers slightly higher spreads with no commissions and Raw account allows enjoying interbank spread but with commission per trade.
For instance, see below a comparison of the spread offering, as well you may compare Eightcap fees to another popular broker ThinkMarket.
Also, always consider overnight fee as a cost, also referred to as Rollover rate, an interest for holding positions open overnight in foreign exchange trading. It is determined by the overnight interest rate and is a differential between two involved currencies and affected whether the position is a buy ‘long’ or sell ‘short’.
|Asset/ Pair||Eightcap Standard Spread|
|Crude Oil WTI||4|
One of the great features of Forex trading is an allowance to use leverage, which may increase your potential gains timely. However and 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.
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.
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.
As for the minimum deposit amount both accounts require only 100$ as a start, which is a fantastic opportunity for the beginning traders or seasoned once as well.
What is amazing 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 review presented a trusted and regulated trading service provider which is the first and actually crucial point in managing trading risks. The business model of Eightcap is built on simple trading without making choices complicated or confusing, yet providing exceptional conditions.
Their main offering is the technological solution of execution trough powerful servers with centralized integration, competitive pricing provided by leading institutions and access through the powerful features of popular platform MT4 along with accounts suited for various strategies.
The initial deposit to start is also a manageable amount of 100$. The company provides a range of educational materials that suit both beginner and experienced traders. This includes market alerts, trading week ahead, fundamental and technical support, MetaTrader guides and trading strategy insights.
And of course, we would be glad to know your personal opinion about Eightcap, share your experience or refer to us for some additional information on the comment area below.
No news available.