Eightcap is a multinational forex broker based in Australia that was launched in 2009. The corporation manages two organizations that are overseen by the VFSC that is also known as Vanuatu Financial Services Commission as well as ASIC. Also known as the Australian Securities and Investments Commission Eightcap is regarded as secure since it is governed by a top-tier ASIC.
Offering compatibility for quite a range of third-party extensions and accessibility to Capitalise.ai's automated trading system, along with two main accounts, Eightcap reinforces its standing as a MetaTrader-only brokerage. Users may trade around 250 financial products with ease. This evaluation can assist you in deciding to either establish an account since it covers spreads, leverage, as well as the smartphone app and demo account.
Despite its outstanding crypto offering, Eightcap struggles due to its limited market coverage, lack of notable instructional materials, and scant research material.
Eightcap is an Australian-based financial intermediary that has provided a fair price structure since 2009 by utilizing cheap rates of adjustable spreads with quotations from several prominent institutions or banks plus performing technology solutions through Equinix servers.
Eightcap operates on a worldwide scale through its reputed Australian headquarters and several branch offices around the globe, along with the United Kingdom, Bulgaria, as well as Cyprus. Aside from retail customers, this broker provides affiliates, IBs, plus influencers with technical benefits and collaboration prospects.
Eightcap strives to create a home for MT4 and MT5 traders as well as a personalized trading experience. This broker connects directly to the most prevalent financial products, all with fast execution and cheap spreads, through its trophy-winning trading platform.
No, Eightcap is not even a scam; it is indeed a low-risk trading dealer as a result of strong regulations or conformance culture implemented by a respectable license and adherence to rules prescribed by the Australian Securities and Investments Commission ('ASIC'), a globally recognized authority that regulates the Forex as well as trying to trade industry.
As a result, Eightcap fulfills the good corporate governance practices, income statements, and transparency as a regulated business. All retail customer cash is kept away from company funds in multiple bank accounts including an AA-rated financial institution. Moreover, Eightcap provides extra security through professional liability insurance coverage, which provides you with a sense of security and trusting collaboration.
In addition, Eightcap provides another business that serves worldwide clients from its offshore location in the Bahamas. After all, of course, we don't ever suggest trading through overseas brokers; nevertheless, the fact that Eightcap also holds a respected ASIC registration indicates that the brokerage is well controlled in order to operate effectively.
Eightcap is deemed to be of moderate risk, with a Trust Score of 79/99. Eightcap is not publicly listed, does not run a bank, and is regulated by two tier-1 regulators that are a high trust, one tier-2 regulator consisting of medium trust, as well as no tier-3 regulators that are low trust.
Eightcap's trading package was well below the market average, with 45 forex pairs and about a dozen CFDs. Crypto trading is possible at Eightcap via CFDs but not by dealing with the underlying security such as buying Bitcoin. It should be noted that cryptocurrency CFDs are not offered to retail traders through any broker's U.K. business, nor are they offered to U.K. citizens.
The investor has exposure to over 1000 different financial products, covering major and minor forex pairings, oil, gold, silver, stocks, and virtual currency CFDs.
The firm just added NASDAQ Share CFDs, German Share CFDs, ASX Share CFDs, NYSE Share CFDs, as well as LSE Share CFDs, to its own Stock CFD Range.
Going further into the firm's claimed inexpensive offering, the brokerage does really deliver fantastic costs, with both the normal spread for EUR/USD at 1.0 pips and therefore a bare spread of 0.0 pips. Metals XAU/USD has a spread of 1.0 pips.
One of the best aspects of Trading forex is the ability to apply leverage, which might also significantly raise your potential earnings over time. Eightcap, on the other hand, has precise leverage constraints based on the transaction size you handle in order to assist traders in avoiding risks, which would obviously demand you to study carefully how to utilize leverage sensibly.
Eightcap offers leverage of 1:30 and provides its consumers with a variety of market options.
Eightcap 2 account types provide a simple distinction between the two accounts named Standard and Raw: deal with Appropriate conditions with no complexities all integrated into such a spread, or deal with Raw Account featuring spreads starting at 0.0 pips and charge for expert traders.
Furthermore, all betting styles are welcomed, with no limitations on the use of EAs and perhaps other methods, as well as variable lot structure and highly leveraged choices. Irrespective of the type of account, all investors will have access to the very same expert trading conditions as well as business assistance for any needs.
Eightcap has a good demo account, which may be accessed via the firm's website. Customers get access to limitless digital funds and almost the same restrictive trade practices and pricing feed as little more than a regular account.
It should be noted that demo accounts are only valid for 30 days by standard, although this can be prolonged upon demand.
Eightcap charges are mostly included in a spread when you're using a Standard account on a contingency basis when you're using a Raw account.
Often, consider the overnight fee, also known as the Carryover or rollover rate, which is an interest rate charged for holding the position open all the time in forex currency markets.
It is influenced by the nightly rate of interest as well as being a distinction between the 2 currencies engaged, and it influences if the move is a purchase also called 'long' or a sell also called 'short'.
Spreads start at 0 pip for key FX pairs for the Raw Account and 0.5 for big indices like the SPX500.
Precious metals spreads begin at 1.0 pip or 0.5 pip, while oil spreads are approximately 1.0 pip.
Always do remember that digital currencies tend to be extremely unstable instruments; the spread for Bitcoin may be as low as 20 pips in some periods. It suddenly touched 30 pips.
Spreads tend to be stronger during trading sessions with particularly high fluctuation as well as during least volatile day times as a result of the carryover to the new day.
Eightcap spreads are tailored to the profile you select, with Standard offering somewhat larger spreads with no costs and Raw offering counterparty spreads with a charge for every trade.
Mostly on the Raw accounts, charges are payable at $3.50 every standard lot, while nightly FX trades are subject to swap rates.
The trader will get exposure to MetaTrader 4 as well as the updated MT5 platform, which includes a plethora of additional features and capabilities. The software platform is accessible for mobile and desktop devices apps, with about the same features for seeing pricing instantaneously, monitoring or accessing an account, and enabling chat and push alerts.
With a variety of signals and methods to apply, MT4 gives all of the required knowledge and tools for effective trading.
Additionally, Eightcap customers will be able to automate their transactions with no programming required. Eightcap customers will get access to automation and analytic capabilities like backtesting, looping procedures, smart alerts, and much more by using capitalise.ai.
The prize-winner MT4 platform makes it possible to trade FX, indexes, and commodity markets online. It's a superb all-around forum because of its robust User experience, automated trading features, and extensive charting package.
Among the features are:
MT5 is a sophisticated gambling platform that allows you to trade currencies, indexes, stocks, commodities, and cryptos. Users are granted the following:
MT5 is compatible with windows, macOS, and Linux computers.
Eightcap also provides the Internet Trader edition of MT5. The browser platform is simply available through the firm's official site and provides the very same set of functions as the computer download. It's a simple and effective method to engage the markets.
Eightcap has created an interesting automatic trading platform that allows clients to program code in simple English, such as buying $1,000 GBP/USD on Wednesday at 15:30 EST. It was never simpler for amateurs to develop automatic investment strategies with a ravishing interface and guided tutorials. Traders may create basic and complicated programs for free because no coding skills are necessary.
Capitalise.ai also provides a comprehensive range of pre-programmed strategies that clients may test threat-free or adapt to their liking before going live.
Eightcap provides a mobile application for the MT4 as well as MT5 platforms, which again is accessible for iOS and Android smartphones. The app has all of the same functionality as that of the desktop version, but with the extra benefit of being accessible from everywhere all the time. Just go to either App Store or Play Store and click the download button now that you have your MT4 or MT5 login details.
The multitude of payment options necessary to finance the brokerage account, allowing you to transition from demonstration to live to trade, featuring quick payments through POLi Payment, Skrill, Visa/MasterCard, Neteller, interbank wire transfers as well as China UnionPay,.
Clients of Eightcap nowadays can input using USDT as well as BTC for USD accounts exclusively.
Because you have the option of selecting a foundation account currency such as AUD, EUR, NZD, USD, CAD, SGD, or GBP, the transfer of funds will be done in the very same denomination as the brokerage account.
The minimum payment at EightCap is $100 including both types of accounts. Furthermore, EightCap doesn't really impose any operational cost for deposits or withdrawals; nevertheless, payments from non-Australian institutions could be entitled to bank fees, which are exclusively the user's obligation.
Most other brokers' minimum deposits range from $500 while Eightcap only asks for a deposit of $100 minimum.
Bank transfers, debit cards, and digital wallets are among the withdrawal methods available from EightCap. There are no fees for transfers or withdrawals, so you can effortlessly handle fundings; nevertheless, be certain to input in the denomination of your profile main currency to prevent conversion.
At the moment, Eightcap neither includes any deposit bonuses nor incentives. Stay updated on the firm's website, though, in case fresh opportunities become accessible. Before you begin trading, double-check the bonus terms of the agreement.
Forex trading is open 24/7 a day. Worldwide foreign currency opening times, on the other hand, differ by time zone.
Operating hours vary in each market, with data accessible on the firm's website.
Furthermore, all betting styles are welcomed, with no limitations on the use of EAs or other methods, as well as variable lot composition and highly leveraged choices. Irrespective of account kind, all dealers will get the same expert trading circumstances as well as business assistance for any necessity.
Eightcap delivers a limited spectrum of research information, including regular reports in both written and visual format, yet, its analysis offering falls short of whatever the top brokerage firms provide.
Eightcap's analysis normally consists of daily textual reports from its in-house employees – including its Trading Week Ahead program – supplemented by the odd video released to the company's current YouTube account, which includes its Market Report series of videos.
Increasing the breadth of research by incorporating counter-party research instruments and material which includes Autochartist as well as Trading Central, would boost Eightcap's position in this area.
Eightcap's instructive offering includes a vast range of textual articles but just a small number of videos. Many of the finest brokers in this area include lesson plans replete with assessments and performance monitoring – things that Eightcap does not provide.
Eightcap's learning center has only a dozen training videos and a few old webinars, such as their TraderFest series, which includes CFDs and FX. These films are stored and categorized by genre on their YouTube channel. The collection of written instructional material articles has expanded, with at least 74 pieces covering foundations and trading methods now available.
Possible enhancements include expanding the variety of learning videos and arranging articles by expertise level, which would assist balance Eightcap's entire educational provision.
EighCap is a trustworthy and authorized investing services company with a strong business strategy based on easy trading that does not make decisions complex or confusing, yet gives great conditions. Their primary product is a solution provider for implementation via strong servers with centralized integration, low pricing supplied by prominent institutions, and access via the advanced features of renowned platform MT4 as well as profiles suited for various tactics.