EightCap
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| Popularity |  |
| Leverage | Up to 1:500 |
| Minimum Deposit | $100 |
| Regulation | ASIC, CySEC |
| Payment Methods | Credit Card, Bank Transfer, PayPal, Skrill, Neteller |
| Trading Assets | Forex, Indices, Commodities, Cryptocurrencies |
| MT4 | ✅ |
| MT5 | ✅ |
| Spreads | Low |
| Average cost: EUR/USD | 0.0 pips |
| Demo Account | ✅ |
| Islamic Account | ✅ |
| MAM | ✅ |
| PAMM | ❌ |
| CopyTrading | ✅ |
| ZuluTrade | ❌ |
| Scalping | Yes |
| Signals | ✅ |
| EAs/Robots | Available |
| Negative Balance Protection | Yes |
| Deposit Fee | ❌ |
| Withdrawal Fee | ❌ |
| Inactivity Fee | Yes, after 12 months of inactivity |
| Year Established | 2009 |
| Address | Level 6, 360 Collins Street, Melbourne, VIC 3000, Australia |
| Contact Information | Email: [email protected], Phone: +61 3 8373 4800 |
| Mobile Trading APP | |
| Rating | ★★★★☆ 4.5 |
| Website |
Pros and Cons
- Wide range of trading instruments
- Low spreads and competitive trading conditions
- Support for MT4 and MT5 platforms
- Comprehensive educational resources
- Responsive customer support
- PAMM accounts not available
- ZuluTrade not supported
- Inactivity fee after 12 months
- Limited access to some high volatility markets
- High minimum deposit for premium accounts
Introduction
Choosing the right broker is a critical step for every trader, whether you’re a seasoned investor or just starting out in the financial markets.
EightCap stands out as a global online trading platform that provides access to many markets, including forex, indices, commodities, and cryptocurrencies.
This review aims to offer a comprehensive analysis of EightCap, highlighting its history, regulatory compliance, trading platforms, account types, fees, and much more to help you make an informed decision.
Company Background
History of the broker
Founded in 2009, EightCap is an Australian-based online forex and CFD broker.
Over the years, it has built a reputation for its commitment to providing traders with low-cost trading solutions and a robust trading environment.
EightCap is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), ensuring a high level of client fund security and compliance with international financial standards.
Regulatory Compliance and Safety of Funds
EightCap takes the safety of client funds seriously.
Being regulated by ASIC and CySEC means that the broker adheres to strict guidelines, including client fund segregation in top-tier banks and participation in compensation schemes.
These measures ensure that client investments are protected to a high standard.
Trading Platforms
MetaTrader 4 (MT4)
- Overview: MT4 remains the industry standard for forex and CFD trading. EightCap offers MT4 due to its reliability, advanced charting tools, and automated trading capabilities.
- Features: Includes customizable charts, 9 timeframes, 30 technical indicators, and EAs (Expert Advisors) for automated trading strategies.
MetaTrader 5 (MT5)
- Overview: MT5 is the successor to MT4, providing more advanced features and tools. It supports more instruments, including stocks and futures.
- Features: Offers 21 timeframes, 38 technical indicators, an economic calendar, and an improved strategy tester for EAs.
WebTrader
- Overview: For those preferring not to download software, EightCap’s WebTrader offers a convenient platform directly in your web browser.
- Features: Access to all major trading instruments, real-time quotes, and full account management features.
Mobile Trading
- Overview: EightCap provides mobile trading apps compatible with iOS and Android devices, ensuring traders can manage and execute trades on the go.
- Features: Includes interactive charts, a full set of trading orders, and access to trading history.
Account Types
Standard Account
- Features: No commission trading with slightly higher spreads. Ideal for beginner traders.
- Minimum Deposit: $100
- Spreads: Starting from 1.0 pips.
Raw Account
- Features: Offers lower spreads with a commission per trade. Suited for experienced traders.
- Minimum Deposit: $100
- Spreads: Starting from 0.0 pips, with a commission of $3.5 per lot per side.
Trading Instruments
- Forex: Over 40 currency pairs, including major, minor, and exotic pairs.
- Indices: Access to global indices such as the S&P 500, DAX, and FTSE 100.
- Commodities: Trade on gold, silver, oil, and other popular commodities.
- Cryptocurrencies: Offers trading on major cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
Fees and Costs
- Spread and Commission Structure: EightCap is transparent about its low spread and commission costs, offering competitive rates that cater to all types of traders.
- Non-trading Fees: Minimal non-trading fees, with no deposit fees. An inactivity fee applies after 12 months of no trading activity.
Leverage and Margin Requirements
EightCap offers leverage up to 1:500 for forex trading, providing traders with the potential to magnify their trading results.
Margin requirements vary depending on the instrument and market conditions.
Deposits and Withdrawals
- Payment Methods: Supports bank wire, credit/debit cards, and e-wallets such as PayPal, Skrill, and Neteller.
- Processing Times and Fees: Deposits are generally instant, while withdrawals can take up to 1-2 business days. EightCap does not charge any deposit or withdrawal fees, although third-party fees may apply.
Customer Support
- Availability and Languages: 24/5 customer support available in multiple languages.
- Contact Methods: Support can be reached through live chat, email, and phone.
Educational and Trading Resources
EightCap offers a wide range of educational materials and resources designed to help traders improve their skills and knowledge:
- Webinars: Regular live webinars covering various trading topics and strategies.
- E-books: A collection of e-books on forex and CFD trading basics.
- Trading Courses: Comprehensive courses for traders of all levels.
Bonuses and Promotions
EightCap periodically offers bonuses and promotions to its clients.
These can include deposit bonuses and trading contests.
It’s important to check the terms and conditions associated with any promotional offer.
Chech BonusUser Experience
- Platform Usability: Both MT4 and MT5 platforms are user-friendly, offering a seamless trading experience.
- Account Opening Process: The process is straightforward, with digital verification allowing for quick account activation.
Conclusion
EightCap has established itself as a reputable and reliable broker in the forex and CFD trading industry.
With competitive trading conditions, a wide range of instruments, and robust trading platforms, it caters to traders of all levels.
The broker’s commitment to transparency, customer support, and educational resources further enhances its appeal.
Whether you’re new to trading or an experienced trader searching for a reliable partner, EightCap offers a comprehensive trading environment designed to meet your needs.
This detailed review aims to provide a clear understanding of its offerings, helping traders make an informed decision when choosing a broker.
With its strong regulatory framework, competitive costs, and comprehensive trading solutions, it is a broker worth considering for your trading journey.
Visit website: www.eightcap.comFeatured Video
User Reviews
Frequently Asked Questions (FAQ)
What is the minimum deposit required to open an account?
The minimum deposit required to open an account with EightCap is $100. This allows traders to start trading with a relatively low initial investment.
Does EightCap offer a demo account?
Yes, it offers a free demo account for beginners to practice trading strategies without risking real money.
Are there any fees for deposits and withdrawals?
EightCap does not charge any fees for deposits. While most withdrawal methods are free, some may incur a fee depending on the payment method used.
Is EightCap regulated?
Yes, it is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
Can I trade cryptocurrencies?
Yes, EightCap offers a variety of cryptocurrency pairs for trading, catering to the growing demand for digital currency trading.
Does EightCap support scalping and hedging strategies?
Yes, it supports both scalping and hedging strategies, making it suitable for traders employing various trading techniques.
How can I contact its customer support?
Its customer support can be reached via email at [email protected] or by phone at +61 3 8373 4800. They offer prompt and helpful support to address any queries or issues.
Resources
Our experts
This article has been written, edited and reviewed by the following members of our team:
Feng Zhou
Feng Zhou, a seasoned author and financial expert, boasts a diverse portfolio of articles recognized by prestigious publications such as Bloomberg, Global Asia, and BizLeaders. Graduating from the University of Hong Kong marked the inception of Mr. Zhou's journey into the financial sector. Initially delving into financial statement audits for both publicly traded and privately held clients, he honed his skills before furthering his education at Hong Kong Polytechnic University. During his tenure, Feng Zhou contributed significantly to the valuation of privately held businesses, engaged in forensic accounting, and provided litigation-related services. His professional trajectory also includes valuable experience at Nezu Asia Capital Management, a prominent hedge fund giant. Demonstrating entrepreneurial spirit, Feng Zhou founded a financial asset management company and frequently shares his expertise as a guest lecturer at various Chinese MBA programs. His prolific writing extends beyond traditional platforms, with articles featured in a range of industry events and publications, including FoxTrade, The MoneyShow, London Summit, and iFX EXPO. With a keen eye for market trends and a wealth of experience, Feng Zhou continues to be a prominent voice in the financial landscape.
Sandro Pontedra
Sandro Pontedra is the mastermind behind the insightful financial analysis and educational content that FoxTrade readers have come to rely on. With a rich academic background from Università di Bologna and the University of Milan, Sandro has built a career that spans across private wealth management and financial analysis, culminating in his role as Chief Accounting Officer for a prominent firm. An avid trader with over a decade of experience in the markets, Sandro combines his hands-on trading knowledge with a keen analytical mind, offering FoxTrade readers a unique blend of practical advice and in-depth market insights. His work, recognized by major financial publications, reflects his passion for finance and commitment to demystifying complex financial concepts. Sandro is dedicated to empowering readers with the knowledge and tools needed to navigate the financial markets confidently. Whether you're a seasoned investor or new to trading, his articles provide valuable insights into investment strategies, market analysis, and the future of finance and technology.
Stephane Dubois
Stephane Dubois stands at the forefront of financial analysis and industry expertise, driving innovation and insight across global markets. With a diverse academic background in International Relations and World Economy, coupled with practical experience spanning government projects and private sector endeavors across five continents, Stephane brings a wealth of knowledge and perspective to his role. As a senior editor at FoxTrade, Stephane oversees the publication of insightful content, ensuring that readers receive accurate and timely analysis to navigate the complexities of the financial world. His leadership and editorial guidance have been instrumental in shaping the platform into a trusted source of information for investors and traders alike. Beyond his editorial responsibilities, Stephane is revered as a leading analyst in the online broker industry. His insights have been instrumental in shaping strategies and decision-making for executives worldwide. Stephane's expertise isn't confined to the boardroom; he is also an esteemed business school professor, with an MBA from Columbia University and prior experience at Goldman Sachs. Stephane's impact extends beyond the confines of academia and corporate settings. He has spoken and moderated panels at prestigious events globally, earning citations from esteemed publications such as Finance Monthly, The Journal of Finance, and Financial Analysts Journal. His contributions to industry discussions cover a wide array of topics, from forex strategies to stock market catalysts, earning him recognition as a thought leader in the financial world.
Last update: April 27, 2024