Eightcap Review
EIGHTCAP REVIEW
Eightcap is an Australian incorporated brokerage company. They offer transparent pricing through low rates of various variable spreads with quotes coming from numerous leading banks or institutions and performed via technological solutions which are done through Equinix servers.
Eightcap provides global operations, well-known for its reputable Australian headquarters to other regional offices around the world including the UK, Bulgaria, and Cyprus. Apart from being used by retail clients they also provide technological advances to affiliates, IBs, and influencers: all who trade financial instruments like equities securities (stocks), commodities such as oil or gold in addition to currencies on a variety of time frames ranging from seconds up until months into future at low trades prices with quick execution speeds while maintaining high-quality liquidity level thanks to their award-winning MetaTrader trading platforms that give traders access to the most popular financial instruments all with rapid execution times and low spreads.
EightCap Pros and Cons
EightCap broker is reliable, which provides a great technological base for trading. Costs are good and there has been plenty of research put into their MT4 platform. Instruments are widely presented, you can withdraw funds via various methods too! The only downside from what we have seen so far is the lack of learning materials that are essential to beginners in trading as well as no 24/7 support centres available.
Is Eightcap safe to trade with?
EightCap is not a scam; it has strict regulatory guidelines as set out by the Australian Securities and Investments Commission. EightCap also follows any of these regulations, which means that all retail client funds are kept separate from business funds in segregated bank accounts with AA-rated banking institutions. It also provides you professional indemnity insurance for your peace of mind and trust when working with them!
Trading Instruments
Eightcap Broker also serves an entity that provides global clients from its offshore branch based in the Bahamas. Of course, we never recommend trading with offshore brokers, however, Eightcap Broker also follows a reputable licence from ASIC which means they are regulated when it comes to their operation.
Leverage
Eightcap Forex trading has a lot of benefits. One is the allowance to use leverage, which may increase your potential gains in an efficient manner. In order to help traders minimise risks- which requires studying well how to use them smartly- Eightcap also has specific leverage in forex restrictions according to the size of trades that you are operating with it.
Account Types
The trader has access to over 1000+ financial instruments, including major and minor currency pairs, oil, gold, silver shares, and cryptocurrency CFDs.
The Eightcap forex broker recently expanded its Stock CFD Range by adding ASX Share CFDs NASDAQ Share CFDs NYSE Share CRs LSE share CDS German Shares are now available at competitive rates with the typical spread for EUR/USD at a standard 1.0 pips as well as raw spreads of 0.0 pips for metals XAU/USD which is 1 pip.
Fees
EightCap Broker charges commissions based on the type of account you have. However, for a full breakdown of pricing and applicable fees, refer to our comparison table below.
In addition to this, always keep in mind that overnight fees are a cost- also known as Rollover rate- which is determined by the interest rates between two currencies and whether or not it is an open buy ‘long’ position or sell ‘short’.
| Fees | Eightcap Fees |
|---|---|
|
Deposit Fee
|
No |
|
WIthdrawal fee |
No |
|
Inactivity Fee
|
yes |
|
Fee ranking |
Low
|
Eightcap Spreads
Spreads are variable, starting at 0 pips for major forex pairs (Raw Account) and 0.4 pips on major indices, such as the SPX500. For gold they start at 0.1 USD, silver at 0.01 USD, whilst oil spreads are 0.03 USD.
Cryptocurrencies have varying spreads from 0 USD for Bitcoin Cash and up to 31.2 USD for Bitcoin. Shares have spreads of 0.02 USD per share, per side (4 USD per lot round turn).
Eightcap Trading Platforms
Eightcap has a range of products for the trader. With MT4, you will have access to all the necessary tools and resources that are essential for successful trading with indicators, strategies, and other features. The proprietary developed platform is available on mobile apps as well as desktop versions having even more advanced features such as real-time prices or chat notifications.
MT5 provides traders with many advanced tools including MetaTrader 4 – which allows them a variety of different languages – in order to stay ahead in today’s ever-changing marketplace.
Furthermore, Eightcap is a trading platform where people without coding knowledge will be able to automate their trades. The use of capitalise. AI on this platform means that users have access to various tools including back-testing and loop strategies among other functions such as smart notifications and much more!
Payment Methods
Eightcap has a range of payment methods you can use to fund your trading account, which allows for transferring from Demo trading to Live one. They include instant deposits through Visa/MasterCard, Skrill, POLi Payment Neteller, and Bank Wire Transfers.
Clients who want to deposit in AUD must do so via Australia’s bank system while those wanting USDT or BTC are limited only on the base account currency-USD accounts can choose between these two options.
Regardless of what base account currency you pick at first (AUD, USD, etc.), all depositing and withdrawals will be made respectively in that same currency as your base trade even though they may be deposited into different ones like NZD or CAD, etc.
EightCap Minimum deposit
EightCap has two account types: one is a savings account and the other is an investment (trading) account. With both types of accounts, you will need to deposit at least $100 for your first transaction. EightCap does not charge any internal fees for deposits or withdrawals; however, if you are transferring money from outside Australia’s banks then there may be bank fees associated with that transfer which would be your responsibility as a customer.
| EightCap | |
|---|---|
|
Minimum Deposit |
$100 |
Withdrawals
EightCap offers withdrawal options that include bank transfers, debit cards, and e-wallets. There is no fee for deposits and withdrawals, so you can easily manage your funds if needed- but make sure to deposit in your account base currency to avoid conversion fees.
Customer Support
One of the best things about this broker is that all broker trading styles are accepted, with no restrictions to use EAs or other strategies. There’s also flexible lot sizing and high leverage options for any account type. Regardless if you’re a professional trader or just starting out in the industry, everyone has access to these same conditions and support from their company.
Conclusion - Eightcap Review
EightCap is a trusted and regulated trading service provider that offers simple, high-quality services. They have an exceptional business model built on technological solutions to execution with strong servers, competitive pricing from institutions of excellence, and access through the powerful features of popular forex trading platforms MT4. The only con EightCap has is providing educational materials for deep learning – but their support centres are performing flawlessly!
