EightCap Broker Reviews and Full Information

What's EightCap?

Eightcap is a registered broker with a good reputation in the field of trading. They offer the CFD and Forex trading options. Eightcap allows its clients to benefit from having access to more than 200 financial instruments that comprise Cryptocurrency, Indices, Shares, Forex, and commodities. Each Financial instruments are backed by the option of MT4 as well as the MT5 trading platforms.

Pros

Cons

Excellent customer support and multilingual capabilities.

There are many customers from 35 countries that aren't allowed.

The execution of trades is quick due to the rates due to the top liquidity.

Demo accounts will not work after 30 days of trial.

Traders are assisted with education sourcesor

 


 

Ten Points Summary

   

Headquarters

360/Level 6 Collins St., VIC 3000, Melbourne, Australia

Regulation

Australian Securities and Investments Commission (ASIC) #391441, VFSC #40377

Platforms

MT4, MT5

Instruments

Currencies, Commodities, Indices, Stocks, Crypto

EUR/USD Spread

0.8 to 1.2 pip (S) (R) 0.0 to 0.3 pip (R)

Demo Account

Available

Minimum deposit

$100

Base currencies

EUR, USD, AUD GBP, NZD

Education

Research, analysis and information

Customer Service

24/5

 

Awards

Offering outstanding service over the past the past six years. EightCap have gained significant amount of experience with some of the most reputable financial brokers. They have been awarded number of awards for their outstanding service in the field of trading. The most notable awards are listed below:

  • Awarded-winning trading platform and mobile applications

https://lh6.googleusercontent.com/WLwIXtjMZ0_sxnNSgUTEBGhee1eWC6yUrByt0duE889twXscNf_IlLmVgNzbCQ_BJtOJEe8fsyqXcNIses3igh-46w4dG-QiTxn2BJhO-Rn5bEB82e2vQGbPcWMoCuYSw1waRBOZ

 

Is EightCap an authentic or legitimate scam?

It is, of course, completely safe. Because the oversight and regulation of the operations of EightCap is conducted under the supervision of Australian Securities and Investments Commission (ASIC) which makes them extremely safe for investors to put money into. The funds of any payments that its traders deposit into their account at EightCap is safely stored in an individual bank account for every trader. To ensure the safety of its customers, EightCap uses tier-one banks that are an official test of the financial health and strength of banks.

Pros

Cons

Regulation is carried out via ASIC and VFSC

There are no cons to be found.

Separated accounts

 

 

Is EightCap legit?

The creation of EightCap was established in Australia in the year 2009. Since then, it's been a number of years since EightCap has been providing the financial markets , offering the capabilities of CFDs trading as well as Forex trading. To ensure the security of customers of the account, funds deposited are stored in separate tier-one banks. As we've mentioned above and also the supervision of EightCap is handled by the supervision of the Australian Securities and Investments Commission (ASIC) which is responsible for ensuring its legitimacy and confirms to be genuine.

 

Leverage

There is a risk of serious concern when using leveraged trading, and it is recommended to be extremely cautious when making use of it. Leveraged trading could result in an increase in risk-taking or offer the potential for incredible gain. The leverage starting point at EightCap is 1:100, and could increase to a maximum of 1:500.

 

Accounts

The minimum balance at the beginning of the account must equal $100 on all kinds of accounts within EightCap. EightCap doesn't require regular maintenance costs or charges for setting the account. There are commission-free accounts available with spreads that start with 0 pips and goes up to 0. They permit scalping and hedging methods, and automated trading and with expert advisors on both kinds of accounts.

Pros

Cons

There are two primary types of accounts: Raw Standard and Raw. Standard.

There were no such cons.

The minimum deposit is rather small.

 

Offers a demo account for free as well as a deposit that is free too.

 

 

Types of accounts

EightCap offers two accounts, from which a user can pick the one that fits him best in terms of his trading needs and then begin the process of registration. Two of the main accounts are the Raw account which is recommended to use by experienced traders. It is equipped with four currencies, while Standard account was made for novice traders and comes with five base currencies in comparison to the previous account.

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Active Trader

EightCap provides perks for its active traders who are inviting their friends to sign up with EightCap. It is a unique program for active traders. is when traders have any of his buddies to sign up with EightCap by depositing $100 into your account. The account holder will also be rewarded with a bonus of $100 to his account immediately after confirmation of the account of his friend.

 

Fees

EightCap spread varies depending on the type of account you select. If you select the basic account, then you won't be charged any commissions and the spreads are a slightly higher than the raw account costs $3.50 as commission and the interbank spreads.

Pros

Cons

The fee conditions can be flexed according to the kind of account.

No fixed spread accounts.

The commission is quite low.

 

 

Comparison of EightCap fees and other brokers

Asset/ Pair

EightCap Fees

Fees from XM

Fees for LiteForex

EUR USD

0.8

1.6 pip

2.2 Pips

Crude Oil WTI

4

5 pip

3 pip

Gold

20

35

11.0

Percentage of inactivity

No

Yes

Yes

Fee for deposit

No

No

No

 

What's EightCap the commission?

Spreads can vary between the range of 0.8 to 1.2 pip (S) or 0.0 0.01 - 0.3 per cent (R) but generally, the commission paid to EightCap for its basic account amounts to $3.50. per lot.

Instruments for Trading

The instruments used for trading span more than 60. They include six cryptocurrency such as global indices, oil, silver and gold, and major and foreign currencies. The competitive prices are offered by the broker using the spread EUR/USD standard 0.8-1.2 per cent and a the raw spread which is 0.0-0.3 per cent or the spread for metals 20-30 cents for XAU/USD

https://lh5.googleusercontent.com/HmjeiP4bz3pEpfYEOXXidzhwVcLHRuJWuMtyf5XvkosGHtQjSp3bL2t8yxxNAPyHqWMf0zdNbOVbi9p3QJiT6sL5ozoCHXYOzoVg8E3M7OH7u5xElNxGjkdqWsb6jLG4QC7p756N

Withdrawals and Deposits

They do not charge a fees for deposits, but withdrawal charges typically are charged according to the payment processor. The charges that may be imposed are listed on the EightCap website.

Pros

Cons

Deposit of $100 is acceptable.

Charges for withdrawal are applied.

The deposit is absolutely free.

 

 

Option to Deposit

A variety of payment options that are quick are provided by EightCap with seven different currencies that include bank wire Neteller, skrilldebit/debit card, poli BPAY and China Union pay. All transactions are made via the client's web portal.

 

How much is the minimum Deposit to EightCap?

The minimum deposit required for EightCap is at least $100.

https://lh6.googleusercontent.com/7YhWkGqR1WO12OqmeECmv6KtqlKJO4LgPKoEBN8xJNl4U9kb0tkfnp6UigEgiOnz8JkElfPbwxRoZm-DeZRfXdjPIdTQ_6SZ95V6jh49eIjFA0kMcV5jygBB6pJzf_jYoert-LVi

 

Withdrawals

With the help of all the mentioned techniques, traders can take profits without cost at any point, however, only after completing the request form available through the portal of the client. The withdrawals are scheduled by the broker and processed within 24 hours, with between 2 and 5 days to clear.

Withdraw Money Step by Step

There are four simple steps to withdraw cash out of the account of your EightCap account:

Step 1:By signing into your portal for clients and clicking on withdrawals in the menu choices.

Step 2: Then click on the account for trading that you would like to withdraw money from and then enter the amount you want to withdraw.

Step 3: Select your desired destination where you would prefer the money to be withdrawn to.

Step 4: Finalize your withdrawal by confirming your information and then clicking on the option to request withdrawal.

 

Trading platform

The popular MetaTrader 4 also known in the market as MT4 as well as MetaTrader 5. MT5 trading platform are available through EightCap and is referred to as the MetaTrader sole broker. The platforms were developed and developed by MetaQuotes Software Corporation. Although EightCap offers MT5 on the web Unfortunately it isn't able to provide an online alternative to MT4.

Pros

Cons

Does it have MT4 as well as the MT5 platform for trading.

There is no availability of MT4 web-based version.

 

Web Trading Platform

Through the website of EightCap traders can gain ease of access to the web trader, or it could operate on web browsers as well. Without downloading or installing any specific software to do this, and using a modern web browser, a user is able to use it on a variety of devices or operating systems.

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Desktop Platform

MT4 as well as MT5 for desktops are similar to each other. The only differences between the two desktop versions is that MT5 is a bit more advanced than MT4. that are similar to MT4 however, both platforms operate in identical ways.

Mobile Platform

The two iOS or Android users can take advantage of the advantages offered by MT4 or MT5 platforms, as they are both provided by EightCap for mobile apps. They offer the same benefits as in the desktop version. In fact it also comes with the benefit of being able to be used at any time and from anywhere. The apps are available on the App Store and Play Store.

 

Customer Service

Another advantage is the provision of customer service via email, phone, online chats, along with 24-hour support. They also keep their customers up-to-date via their social media channels.

Pros

Cons

The use of different languages

There were no such cons.

 

Education

There's a section devoted to teaching traders on the website of EightCap, titled Market News & Analysis which provides mainly market commentary along with CFDs and Forex News. CFDs as well as Forex News sub-categories provide trading concepts.

Pros

Cons

Materials for analysis and learning are available for learning and analysis.

There are only 7 videos on CFDs.

https://lh5.googleusercontent.com/hbJD-kS9E8FnAjWdxYK24_yseYgxLRCzX6MVS6jFjLDWMbNxtr_kN4SrcizpO5VuDMteXCFZOXp0a-vcd7i3vKGPJH1Z3HD9yHQ8pxxdAZ4MlXBpOo1SkKCFtmSQIFzmygpaioZp

 

Conclusion

Therefore, we can conclusively say the following: EightCap is a great brokerage to put your money into. They have a great regulation offering a low cost of transaction and an immediate response to client requests. Customers also appreciate the benefits offered by MT4 along with MT5 trading platforms that let traders trade a greater variety of financial instruments in order to attune new investors and meet the needs of existing ones.

Summary
Properties Values
Name
EightCap
Minimum Diposit
$ 100
Leverage
1:30
Regulation
ASIC, VFSC.,,,,,,,,,,,,,,,
Headquarters
Australia
Established
2009
Address
The Rialto, South Tower Level 35, 525 Collins Street, Melbourne VIC 3000, AU, Australia
Platform
MT4,MT5,,,,,,
Payment Method
Paypal,Visa,Mastercard,Wire,Skrill,Neteller,Union Pay,Poli,,,,,,
Overview
Properties Values
Spreads
0.8 to 1.2 pip
Min Position size
0.01
Broker Type
STP (Straight Through Processing),ECN (electronic communications networks),NDD (Non Dealing Desk),,,
Account Type
Mini account,Scalping,High Leverage,Standard,,,,,,
Brokers by Country
Australian Forex Brokers,,,,,,
Techniques
Scalping Forex Brokers,Hedging Forex Brokers,Automated Trading Brokers,Mobile Trading Brokers,,,,,,
Instruments
Gold Trading Brokers,Stock Trading Broke,Oil Trading Brokers,Metal Trading Brokers,Indexes Trading Brokers,,,,,,
Account currency
USD,EUR,GBP,CAD,XAU,JPY,BTC,,USD,,USD,,USD,,USD,,USD,
Tools
Economic Calendar,Charting Software,Pip Calculator,Margin Calculator,Profit Calculator,,,,,,
Website Languages
en,,,,,,
Support languages
en,,,,,,
Bonus
Yes
Reviews Rating
4.2
Withdrawal Fee
No
Trading Signals
No
Free Education
Yes
Daily News
Yes
Demo account
Yes
Swapsr
Yes
Pors
1. Excellent customer support and multilingual capabilities.
2. The execution of trades is quick due to the rates due to the top liquidity.
Cors
1. Demo accounts will not work after 30 days of trial.
Display Analysis
Yes
Serving country
AU,VU,,,,,,
Not Serving country
AF,AZ,BE,BI,CA,CF,CG,CI,EG,ER,ET,IR,IQ,IL,JP,KP,LB,LR,MM,PK,PR,RU,SL,SO,SD,SY,TT,TN,UA,US,VU,VE,YE,ZW,,,,,,
Contests
Yes
Market analysis
Yes
Copy Trading Brokers
No
Bitcoin Forex Brokers
Yes
Social trading
Yes
Web trading
Yes
Forex pairs
No
CFDs
Yes
Crypto
Yes
Hedging
Yes
PAMM
PAMM,MAMM,Myfxbook Auto trade,Mql5 signals,,,,,,
Mobile Trading
Yes
Scalping
Yes
Automated Trading
Yes
Partnership Programs
Yes
Free Phone
+61 3 8373 4800
Customer Support
24/5
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