Eightcap Review
Australia based broker Eightcap provide their service through MetaTrader 4, MetaTrader 5 as well as TradingView. The best thing about Eightcap is that the broker offer opening two accounts at a time and allow you to choose from 1000+ trading instruments. This comprehensive Eightcap review would talk about things like how much Eightcap costs to use, how much you can borrow, and how their phone app and demo account work.
It has some important unique points that make it good. If one would ask me, first, this has best prices for trading. Secondly, it’s got all possible options in trading, like money, stocks, etc. And lastly, they are very good in customer service for your inquiries or problems.
Be it for seasoned experts or those dabbling in trading for the first time, Eightcap has something in store for you to make the best of the forex market.
Eightcap Broker Overview
Eightcap started its journey with an aim to provide top notch trading service to the prospective traders. This goal has stayed important to them all this time and has helped them grow a lot. They’re known everywhere in the world now and offer over 800 instruments to trade including foreign currency and stocks. This shows how much they want to make trading really good and special.
Achieved multiple accolades indicative of superior quality services such as Best CFD Broker in Australia, 2022. This indicates a superb performance in providing people with great ways of trading as well as tools for learning about trading. They indeed went ahead to winning accolades for being Most Innovative Affiliate Program and Best Crypto Broker from other organizations. They even have won awards for their customer service and support.
Eightcap offer forex traders the best platforms to use, and one of these is called TradingView. This shows how they’re working hard to make trading even better. They’ve been awarded for being the best broker with platforms like MT4 and MT5, which traders worldwide use.
From the beginning of the establishment, Eightcap has not changed its aim to become one of the top currency exchange broker.
Eightcap Review: Quick Summary
| 🏢 Headquarters | Melbourne, Australia |
| 📆 Established | 2009 |
| 🗺️ Regulation | ASIC, FCA, CySEC, SCB |
| 🖥 Platforms | MetaTrader 4, MetaTrader 5 and TradingView |
| 📉 Instruments | Forex, Commodities, Indices, Shares and Cryptos |
| 💳 Minimum Deposit | $100 |
| 💰 Deposit Methods | Credit/debit card, Cryptocurrencies, China UnionPay, PayRetailers, Bank Wire, Worldpay, Fasapay, Neteller, PayPal, BPAY, Skrill, POLi ( *This depends on the country of residence of the client. ) |
| 📱 Mobile Trading | Yes |
| 🌍 Web Trading | Yes |
| 💵Minimum Trade Size | 0.01 Lots |
| 🎢 Maximum Leverage | Up to 1:500 ( *This depends on the country of residence of the client. ) |
| 🌍 ECN | Yes |
| 🤖 Robots | Yes |
| 🎯 Scalping | Yes |
| ☎ Customer Support | 24/5 |
Eightcap Review Regulations
Having been successfully established in multiple jurisdictions, the broker attests to its success in meeting the highest standards of transparency, security, and accountability. Eightcap is a regulated member from four jurisdictions: ASIC, CySEC, FCA, and SCB.
The broker operates under Eightcap Pty Ltd name with the license number ABN 73 139 495 944. They follow the rules set by the Australian Securities and Investments Commission (ASIC), which makes sure companies in Australia do things correctly. They have a license number (AFSL 391441) that proves they follow ASIC’s rules. Their office address in Australia is The Rialto, South Tower, Level 35/525 Collins St, Melbourne VIC 3000, Australia.
In the United Kingdom, Eightcap Group Ltd is part of Eightcap. They are duly regulated by the Financial Conduct Authority, the UK regulatory body for all financial activities. Their registration no. (FRN 921296) shows their conformity to standards laid by FCA. The head office is located at 40 Gracechurch Street, London, EC3V 0BT.
In Cyprus, a branch of Eightcap has been established as Eightcap EU Ltd. This organization adheres to the set guidelines and regulations by the CySEC, which is a recognized authority in Cyprus over all financial activities. It is licensed under number 246/14, proving its credibility by CySEC. Their office is at Anexartisias 187, 1st floor, 3040 Limassol, Cyprus, which clearly indicates their transparency.
In The Bahamas located at Sandyport, Nassau, Eightcap follows rules from The Securities Commission of The Bahamas (SCB), which makes sure companies follow the regulation in the country. They have an office at 208 Church Street, Sandyport, Nassau, The Bahamas. They use the name SIA-F220, which means they follow SCB’s rules.
All these regulatory bodies shows that Eightcap wants to do things correctly and responsibly in different parts of the world.
Eightcap Review: Account Types
Eightcap mainly offers two types of accounts, Raw and Standard accounts. Additionally, they also offer TradingView account. However, all these accounts have different features. These also feature Islamic account. Let’s get to know each account type.
Take the Benefits of TradingView with Eightcap
Trading with Eightcap is made even more seamless and insightful through the integration with TradingView, a unique charting platform that empowers traders with diverse tools and resources. You can chart your trade in TradingView by using one of more than 15 chart types: Kagi, Renko, Point & Figure, and many others. Use 1 to 8 charts per tab with symbols and time intervals to sync, and take advantage of over 90 smart drawing tools all available for analysis. TradingView is also pretty flexible, enabling you to trade in and out without losing the pace whether you are at home or when you are away. The TradingView mobile app on iOS or Android connects your Eightcap account, making it easier to switch operations into your mobile.
Up your game by accessing a colossal range of premium technical indicators as well as many popular pre-packaged measuring tools based on the industry’s standards. Pick from over 100,000 indicators crafted by your fellow community members; there’s a number of tools to modify your trading strategy. Besides that, with TradingView, one can also develop one’s own indicators using Pine-Script, a language developed by the site itself.
Exchange ideas with fellow CFD traders, get new trading ideas through discussion with other traders, and get help from the community. Get alerts on everything with TradingView and you will never miss a shift in a market. Alerts can be configured for different types, such as price levels or some indicators, even for custom indicators. Create at least 10 varying alert configurations in every category so that you are always aware of potential opportunities in the market.
To start trading with Eightcap directly from TradingView, follow three simple steps. Begin by creating an account with Eightcap; opt for TradingView as your platform during the application process. Next, open a chart on TradingView and visit the ‘Trading Panel’ tab. Finalize everything by selecting Eightcap from the list offered and following the prompts to connect your new Eightcap account details. Sit back and enjoy the convenience of trading directly from your account through TradingView.
Eightcap makes its integration with TradingView a lot more beneficial for you, providing all-round educational resources to enrich your trading experience. Tap into Eightcap Labs to find the sweet spot between theory and practice, grow into a better trader, and give it all that you’ve got. Take part in Trade Zone and find inspiration and expert insights for your weekly trade ideas/market forecasts/mid-week commentary webinars. Setup your steps and register, create an account, and begin your trading adventure. Enjoy low spreads and access to over 800 financial instruments. Trade with Eightcap and TradingView and enjoy trading like never
Eightcap Review: Assets & Markets
We thought Eightcap has a really good range of instruments you can trade. They have a lot of different options, especially when it comes to buying shares from big and well-known companies in the US, UK, Australia, and Europe. They also offer more chances to trade cryptocurrencies compared to other brokers.
According to it, you can trade in a whole range of assets, including 40 major, minor and exotic forex currency pairs. They provide share CFDs for more than 500 popular companies spread over the US (NASDAQ and NYSE), UK (LSE), Germany (EXTRA), and Australia. Cryptographic aficionados will have more than 250 crypto pairs available for trading, including cross pairs and indices. In addition, you will find access to 10 of the most well-known index CFDs, like the US30, UK100, and SPX500. Commodities like gold, silver, and oil CFDs are also made available for trading purposes to add variety into one’s trading strategies.
Eightcap Broker Review: Spreads & Commissions
We noticed that the differences between buying and selling prices (spreads) were really small and could change. For important currency pairs like Raw Account, the Eightcap spread could start at 0 pips. For big stock market numbers like SPX500, it could start at 0.4 points. If you’re trading gold, the spread might start at 0.12 USD, and for oil, it could be 0.03 USD.
The costs of trading cryptocurrencies can be different. The spread could be as low as 0 USD for Bitcoin Cash, while for Bitcoin, it might go up to 31.2 USD. When it comes to shares, the spread is about 0.02 USD for each share you buy or sell. For a full trade (buy and sell), it’s around 4 USD per share.
During the market movement, there is a chance that spreads can be wider. Additionally, this can be happened if there are traders in the market.
On the Raw account, they ask for a fee of 3.50 USD for each full trade you make. This fee is quite competitive.
If you’re trading forex overnight (keeping a trade open while you sleep), there might be some extra costs called swap rates.
Eightcap Review: Deposit and Withdrawals
Eightcap broker offer you many ways to put money into your account. Just pick the way you like best, say how much you want to add, and then wait for them to confirm that they got the money. You can fund through different ways such as credit or debit card, UnionPay, Cryptocurrency and more depending on your country of residence.
Eightcap doesn’t charge any extra fees when you put money into your account or withdraw, but remember that the method you use might charge you for making the transaction or for doing it across different countries.
Whenever you want to take money out, Eightcap’s Finance team will check it first, and this could take 1-2 business days. Once they are done on their side, the money will come to you based on the time they said it would take.
When a broker uses the word “instant,” it implies that the transaction is complete automatically and takes place in a matter of seconds, without any intervention from the finance department. Never forget that Eightcap broker will never tack on any hidden costs when you fund your account.. If you’re sending money from a bank or card that’s not in Australia, there might be extra fees from those banks or conversion fees. If there are, you’ll have to pay them.
Please make sure that the name on the bank account or card matches the name on your Eightcap trading account. If it’s a shared account, that’s okay as long as one of the names matches our records. Eightcap can’t take money from someone else for you, and they don’t accept cash payments directly.
Regardless of the time, you can fund you trading account whenever you want. If a deposit doesn’t happen right away, Eightcap tries to finish it within one day of business hours. If there are problems with the payment systems, and it takes longer than expected, they are not responsible for those delays. If you’re moving money between your accounts with the same name, it happens instantly. In some countries, they may inform you of specific regulations regarding the use of specific payment methods.
It is important to utilize the same wallet address when withdrawing funds from a cryptocurrency wallet as when adding funds. In such case, they will want further identification, such as a recent photo of your ID or passport, the new address of your cryptocurrency wallet, and a short video of your face, to confirm that you are the account holder.
Trading Platform
Our testing of Eightcap’s various trading platforms revealed that they are top-notch. Many people use their popular ones, such as MetaTrader 4 and MetaTrader 5. Plus, they have Capitalise.ai software, which is even cooler. It allows you to automate your strategies. The fact that you can choose the platform that best suits your trading style and goals (such as scalping) is a huge plus.
It has some awesome features:
- You may view the prices and the status of objects across various time intervals, such as one hour or one day.
- You can draw lines and stuff on the charts, plus there are thirty pre-made indicators to assist you comprehend the market.
- To aid in trading, you might make use of trading robots that adhere to specific guidelines. This group is known as Expert Advisors (EAs).
- Diverse kinds of purchase and sale orders can be put up, and they can occur in various ways.
- In the Market Watch section, you may view prices in real-time.
- A single click will take you to the trade button.
- By looking at previous eras, you can learn about trends and patterns.
- You can view the prices and performance across 21 distinct time intervals, such as 15 minutes or a week
- To help you better understand the market, there are 38 technical indicators at your disposal, and the charts allow you to design more than 40 distinct forms.
- You can program automated trading bots and evaluate their performance with past data.
- There are a total of six distinct order types for buying and selling, and four distinct ways to put these orders into action.
- One option allows for lightning-fast trading, while another, Advanced Market Depth, shows you the volume of buyers and sellers.
- Among other things, you have access to up-to-date financial news and an economic calendar that highlights key dates.
- In the Market Watch area, you can see prices as they happen.
- You have the option to employ “netting” or “hedging” tactics to manage your trades.
- There is a community chat feature where you can talk to other traders. • Traders can access historical data to see how things were in the past.
Eightcap Review WebTrader
Eightcap also offers WebTrader variant of MT5 (depending on country of residence). You can utilize it straight from their website; you have no need for downloading anything. It boasts all the identical characteristics of the one you would download to your computer. Starting trading and connecting with the financial markets is quick and easy this way.
Eightcap Review: Customer Support
Our research and experience with Eightcap found that the broker’s customer service is highly efficient. When we tried the live chat, we talked to an agent in less than a minute, which is faster than most other forex and CFD brokers. You can contact them 24/5 via phone call, email and live chat.
