Ups & Downs
- 1. Good technological base for trading
- 2. Reasonable trading costs
- 3. A wide range of financial instruments are available
- 4. Easy withdrawal of funds
- 1. No 24/7 customer support service
- 2. Lack of good learning materials for forex beginners
Min. Deposit:100 US$
Trading Platforms(s):MetaTrader 4, MetaTrader 5
Eightcap is a brokerage company incorporated in Australia. Established in 2009, Eightcap review platform is one of the best brokerage service providers that has brought transparency in forex trading by charging low rates for variable spreads through quotes from several leading financial institutions.
Eightcap’s HQ is situated in Australia but has multiple regional offices worldwide, such as in Bulgaria, Cyprus and UK. The best thing about Eightcap is that it serves many clients beyond retail investors, including IBs and influencers, and offers them technological advantages and partnership opportunities.
Eightcap is the topmost choice for MetaTrader investors. The brokerage aims to offer a personalized trading experience to its clients. With their help, traders can get access to the most popular trading instruments, that too at rapid execution speed and low spreads.
Eightcap Review – Is Eightcap Safe for Trading?
Yes, indeed, Eightcap is safe to trade with. They are fully licensed and regulated by the Australian Securities and Investments Commission (ASIC), which is a recognized authority when it comes to the trading and forex industry. Consequently, Eightcap meets the highest standards of financial reporting and corporate governance. They keep the client’s funds separate from business funds. Furthermore, they offer extra protection by offering professional indemnity insurance policies to give investors peace of mind.
Also, Eightcap has an offshore branch in the Bahamas to serve clients globally. Although they never recommend trading with offshore brokers, they are governed by ASIC, meaning they are highly regulated regarding their operations and activities.
Eightcap Review – Trading Instruments
The traders can access 1000+ financial instruments such as currency pairs, silver, gold, oil shares, CFDs, cryptocurrencies and more.
Leverage is the best feature to trade in the forex market, which can increase your potential gains considerably. But incorporating leverage in trading can be quite risky; therefore, Eightcap has certain restrictions for leverage according to your trading size. The maximum leverage allowed by Eightcap is 1:30, which is a good ratio for taking advantage of several market opportunities.
Eightcap’s Account Types
Eightcap offers two types of accounts: trade with standard conditions without any complications or through a Raw account with spreads starting from 0.0 pips and a commission for more professional investors. What’s more fascinating is that all trading styles are accepted, and there are no restrictions for using EAs and other strategies. Additionally, they have flexible lot sizes and high-leverage options. Thus, irrespective of the account type you choose, you would be able to access the same professional trading conditions and customer support.
Eightcap charges spread for standard accounts and commission for Raw accounts. Along with this, they also charge overnight fees for holding positions open overnight.
The spreads charged by Eightcap are determined by the account you use. For Example, Standard accounts have higher spreads and no commissions, while Raw accounts let traders take advantage of interbank spread but with a commission for each trade.
Eightcap Review – Trading Platforms
Eightcap allows traders to access MetaTrader 4 and 5 trading platforms, which have various advanced features. The trading platforms are available for both desktop and mobile apps. Both have the same capabilities to view real-time prices and provide all the tools for successful trading. Furthermore, traders can automate the trades with no prior coding knowledge. In short, Eightcap allows access to numerous automation tools such as backtesting, intelligent notifications and much more.
Eightcap Review – Payment Methods
Eightcap allows trade to deposit and withdraw funds through Visa or MasterCard, Skrill, Neteller, Bank Wire Transfers and many more. Additionally, there are no fees for deposits and withdrawals, meaning it is easy to manage the funds. However, make sure that you deposit in your base currency to prevent conversion.
Eightcap Review – Eightcap Minimum Deposit
The minimum deposit required for opening a trading account with Eightcap is $100. Additionally, Eightcap doesn’t charge any internal fees for making deposits and withdrawals. Yet, one must consider that payments made through non-Australian banks might be subject to certain bank fees.
Eightcap is a trustworthy and reliable brokerage with a suitable pricing model for simple trading and avoiding confusion. The primary offering of Eightcap is execution through powerful servers. In addition, they offer competitive pricing and centralized integration and accessibility to efficient features of MetaTrader trading platforms. The only drawback is not-so-good customer support and lack of learning materials. Both of these are important for forex beginners for a smooth trading experience.