Eightcap was founded in 2009, and it is regulated and approved by the Australian Securities and Investments Commission (ASIC). The brokerage firms offer 250+ CFD assets, including forex, cryptocurrency, Indices, shares and commodities. The broker offers two types of trading accounts as Standard and Raw accounts. In addition, the brokerage company offers to trade on MetaTrader 4 and MetaTrader 5 trading platforms for PC, Mobile, ios systems.
The broker also provides an advanced level of trading platforms and indicators, which is helpful while trading. In addition, the broker offers completely commission-free trading to all the traders.
The payment method of the Eightcap is via debit and credit cards, bank wire transfer, Poli Payment, BPay, China UnionPay, Skrill and Neteller. The broker also provides a customer support service to the trader, along with multi-lingual support 24/5.
Eightcap is the legit broker in the market, and it is the operating name of Eightcap Pty Ltd. It is regulated and sanctioned by the Australian Securities and Investments Commission (ASIC).
It is one of the topmost financial brokers in the market because it gives secure and safe features in which the investor money is entirely safe from hackers.
- ACN Number: 139495944
- ABN Number: 73139495944
- Former name: ROCO International PTY LTD.
The headquarters of the Eightcap is located at Level 6, 360 Collins Street, Melbourne, VIC 3000 Australia.
According to the official website of Eightcap, the broker offers various types of service, which is essential for the traders.
The broker generally offers two types of trading accounts to the investors in which every account has some advanced level of features.
Raw Trading Account
- Spreads start from 0.0PIPS
- The broker charged a commission of $3.5
- The trader has to deposit an initial amount of money that is $100
- Minimum Trade Size 0.01
- EAs Available for investors.
- The available base currencies of the Raw account are AUD, USD, EUR, GBP, NZD, CAD, SGD.
- Scalping is allowed for the investors.
- Margin call level of 80%.
- Stop out 50%, which the investor uses.
- Hedging is allowed for the traders.
- The trader has a wide variety of global market opportunities.
Standard Trading Account
- Spreads From 1.0PIPS
- It completely offers commission-free trading.
- Minimum deposit $100
- Minimum Trade Size 0.01
- EAs Available for traders.
- The base currencies of the Standard trading accounts are AUD, USD, EUR, GBP, NZD, CAD, SGD.
- Scalping is allowed for the traders.
- Hedging is allowed to minimise the risk of losing money in the market.
- The broker offers a wide range of deposit and withdrawal methods. It depends on the traders which are suitable for you.
- Complete transparency to trade with Eightcap.
Eightcap Review: Account Opening
Here are the steps to follow by traders to open a trading account with Eightcap
- The investor needs to apply on the official website of Eightcap.
- Then fill the application form in which the name, address, age, etc.
- It is the most important step; the trader must verify their trading account by submitting the government ID card.
- Lastly, deposit $100 of the minimum amount of money into the trading account.
Eightcap Review: Trading Instruments and Markets
It is primarily a forex broker in the market. The brokerage firm offers a wide range of CFDs assets for trading, such as:
- Forex: 45+ currency pairs are available to trade.
- Stock Index CFDs: 11+ Index is available to trade.
- Stock CFDs: 258+ CFDs stock is available to trade.
- Commodity CFDs: 4 popular commodities for trading.
- Cryptos: 5+ cryptocurrency for trading.
The trader can invest their money in these assets and make a higher profit than the other brokers.
Eightcap Review: Trading Platforms
The brokerage firm offers two types of trading platforms: MetaTrader 4 and MetaTrader 5. The trading platforms provided by the broker have some advanced level of features that are beneficial for traders.
MetaTrader 4 is the topmost trading platform for trading because it is easy to handle by beginners and professional investors. MetaTrader 4 platform has all features and functions which are important while trading.
What are the characteristics of the Metatrader4 platform?
- The trader has 9-time frames.
- The investor can use it on any device such as Desktop & Mobile.
- The MetaTrader 4 platform has 30+ indicators, which is essential to trade.
- The trader can trade with robots.
- On the MetaTrader 4 platform, it is allowed to trade on FX, Indices, Commodities.
- It is easy to customise by the traders.
- One-click trading.
- Flexible trading system
- The investment money is entirely secure on MetaTrader 4 platform.
It is the advanced version of the MetaTrader 4 platform. This is the only platform that is chosen by the investor globally.
What are the characteristics of the MetaTrader 5 platform?
- The investor can use it on any device such as Desktop, Mobile and web trader.
- The investor has 21-time frames.
- The MetaTrader 5 platform has 38 technical indicators which are helpful for trading.
- The investor can trade with robots.
- The platform also offers 80- built-in indicators and analytical objects.
- It is one of the best platforms for fundamental analysis.
- The Metatrader 5 platform is basically for the professional investor because it has some advanced level of tools compared to the Metatrader 4 platform.
- Award-winning platform.
Eightcap Review: Fees and Spreads
- The broker offers commission-free trading to all the investors except Raw trading account holders. In the Raw account, the trader has to pay a commission of $3.5, but on the other hand, the spread is as low as 0 pips.
- The brokerage company doesn’t charge an inactivity fee from the traders if the investor is inactive in the market for a period of time.
- Spread will fluctuate.
- The broker charges low non -trading fees from the investors.
- Spread is one of the basic fees in the case of forex and stock trading.
Eightcap Review: Leverage
- The broker giants offer the leverage of 1:500 to the professional investors and 1:30 to the retail investors.
- The retail investor needs to avoid the leverage amount from the broker; it has a high risk of losing money in trading.
Eightcap Review: Deposit and Withdrawal
The investor is free to deposit unlimited money into the trading account, and also the broker doesn’t charge a commission withdrawal amount. The available base currency for deposit and withdrawal includes AUD, USD, EUR, GBP, NZD, CAD, SGD.
To save the conversion fees, the trader needs to open a multi-currency bank account in the market. The deposit and withdrawal method of Eightcap are
- Debit /Credit Cards,
- Bank wire transfer,
- Poli Payment,
- China UnionPay,
To Trade with an Eightcap broker, the investor needs to deposit $100 for trading.
Eightcap Review: Education and Research
The brokerage company has limited resources for education and research. But the education and research material helps a lot to trade in a better way in the market. In addition, most of the investors use this material to predict the future market of the assets.
Eightcap sends the information about the market to a live-streamed trading battle between professionals.
The list of the educational and research material is:
- In addition, the broker offers a demo account for the practice of beginners.
- Provide Quality educational articles
- External webinars
Eightcap Review: Customer Support
The broker provides a customer support service in 9 different languages to the investor. The customer employees solve the problem of the trader which is related to the trading. The trader can contact Eightcap customer service through live chats, phone numbers and email service.
Supported languages at Eightcap’s customer service are English, Chinese, Thai, Korean, French, Spanish, Italian, German, Vietnamese, Portuguese.
It is one of the best online brokers in the market because its service is amazing.
- Address: Level 6, 360 Collins Street, Melbourne, VIC 3000 Australia
- Email: [email protected]
- Phone number: +61 3 8373 4800
This was the detailed Eightcap review based on various factors and parameters. Eightcap is the leading online brokerage firm that started its operations in 2009 with the intent to offers exceptional trading services to its clients. It offers a wide range of trading instruments through advanced trading platforms. The commissions and spreads are very competitive. Most important the broker is highly regulated and authorised by ASIC. If you are looking to start your online trading journey, then Eightcap can be your best choice.
Why Trade with Eightcap Brokers?
- The trader is free to deposit and withdraw their trading amount.
- The broker charged low trading fees.
- ASIC regulates it.
- The broker doesn’t charge an inactivity fee.
- Advanced Trading Platform
- Wide Range of Trading Instruments
75% of retail CFD accounts lose money
Yes, the broker is the most trusted brokerage firm in the industry. It is highly regulated by the ASIC.
Yes, the broker offers MT4 and MT5 advanced trading platform
You can start your trading with a minimum deposit of $100.
NO, the broker doesnt accepts paypal. It offers skrill, Neteller, etc.