Eightcap launched in 2009. We were founded in Melbourne, Australia with a simple, clear mission: to provide exceptional financial services to our clients. This fundamental principle remains at the core of everything we do at Eightcap and is pivotal to our success.
What is Eightcap？
Eightcap is a forex and CFD broker known for its low fees and user-friendly trading platforms, including MetaTrader and TradingView. It provides a wide range of trading products and robust customer support.
Pros and Cons of Eightcap
Eightcap provides a robust and comprehensive trading experience with a wide range of trading products, platforms, and account types. It offers strong regulatory oversight by ASIC, ensuring credibility and security. However, concerns about a suspicious clone under CYSEC regulation and the lack of specified insurance coverage details may be potential drawbacks. The diverse platforms and customer support options enhance user experience, but the potential fees for certain accounts could be a consideration for some traders.
Is Eightcap safe？
Regulations
Eightcap is regulated in four jurisdictions: ASIC in Australia, FCA in the UK, CYSEC in Cyprus, and SCB in Bahamas.
Funds Safety
Eightcap ensures the safety of client funds by segregating them from the companys operational funds. However, details about insurance coverage and specific amounts are not publicly specified.
Safety Measures
Eightcap employs advanced encryption technologies to protect the security of funds. It also implements robust account security measures to prevent unauthorized access and protect user information.
What are securities to trade with Eightcap？
Eightcap offers a variety of trading products, including:
Forex CFDs (Contracts for Difference):
Access to competitive spreads and leverage options.
Trade on a wide range of currency pairs, including major, minor, and exotic pairs.
Commodity CFDs:
Benefit from leverage and the ability to go long or short.
Trade commodities such as gold, silver, oil, and other precious metals and energy products.
Index CFDs:
Offers exposure to market movements without owning the underlying assets.
Trade on global indices such as the S&P 500, NASDAQ, FTSE 100, and more.
Share CFDs:
Leverage and short-selling options available.
Trade shares of major companies from global markets, including the US, UK, and Europe.
Crypto CFDs:
Access to high leverage and 24/7 trading.
Trade popular cryptocurrencies like Bitcoin, Ethereum, Ripple, and more.
Eightcap provides traders with a range of tools and platforms, including MetaTrader 4 and MetaTrader 5, to enhance their trading experience.
Eightcap Accounts
Eightcap offers three main types of trading accounts: Raw Account, Standard Account, and TradingView Account.
The Raw Account features spreads starting from 0.0 pips, access to over 800 instruments, and a commission of 3.5 AUD, USD, NZD, SGD, CAD, 2.25 GBP, or 2.75 EUR per standard lot traded. The minimum deposit is $100, with trade sizes ranging from 0.01 to 100 lots. It has a margin call level of 80% and a stop out level of 50%. Account base currencies include AUD, USD, EUR, GBP, NZD, CAD, and SGD. Scalping is allowed.
The Standard Account has spreads from 1.0 pips, access to over 800 instruments, and no commission (except for shares). The minimum deposit is $100, with trade sizes from 0.01 to 100 lots. It shares the same margin call and stop out levels as the Raw Account and allows scalping. The base currencies are the same as those in the Raw Account.
The TradingView Account also offers spreads from 1.0 pips, access to over 800 instruments, and no commission (except for shares). The minimum deposit is $100, with trade sizes ranging from 0.01 to 100 lots. Like the other accounts, it has a margin call level of 80% and a stop out level of 50%, supports the same base currencies, and permits scalping.
Eightcap Fees Review
Eightcap's fees for various trading products are primarily reflected in the spreads. Here are the details based on the provided information:
EURUSD (Euro / US Dollar): Spread from: 0 pips
XAUUSD (Gold / US Dollar): Spread from: 0.12 USD
BTCUSD (Bitcoin / US Dollar): Spread from: 12 USD
UKOUSD (Spot Brent Crude Oil): Spread from: 0.03 USD
UK100 (UK 100 Cash | FTSE 100 | Financial Times Stock Exchange 100 Index): Spread from: 1.2 GBP
US30 (Dow Jones Industrial Average | DJIA | Wall Street 30 Cash): Spread from: 1.6 USD
In addition to spreads, commission fees may apply depending on the account type:
Raw Account: Commissions are charged per side as follows: 3.5 AUD, USD, NZD, SGD, CAD | 2.25 GBP | 2.75 EUR per standard lot traded.
Standard Account and TradingView Account: No commission for most trades, but shares include commission.
The minimum deposit for all account types is $100, and the minimum and maximum trade sizes range from 0.01 lots to 100 lots. The margin call level is set at 80%, and the stop-out level is 50%.
Eightcap App Review
Eightcap offers a variety of trading platforms to cater to different trader preferences and needs. Here are the details:
TradingView: Benefits: Easy to use, excellent for technical analysis, and provides a community aspect where traders can share ideas and strategies.
Features: TradingView is a powerful charting and social networking platform. It offers advanced charting tools, a wide range of technical indicators, and the ability to follow and interact with other traders. It is known for its user-friendly interface and real-time data.
MetaTrader 5 (MT5): Supports trading in a variety of asset classes, advanced trading functions, and extensive back-testing capabilities for automated trading systems.
MetaTrader 5 is a multi-asset trading platform that provides superior tools for comprehensive price analysis, use of algorithmic trading applications (trading robots, Expert Advisors), and copy trading. MT5 offers more order types, advanced charting capabilities, and additional analytical tools compared to its predecessor, MT4.
MetaTrader 4 (MT4): Highly reliable, customizable, supports a wide range of trading strategies, and has extensive resources and user community support. MetaTrader 4 is one of the most popular trading platforms in the world. It provides robust charting tools, technical analysis, and automated trading capabilities with Expert Advisors (EAs). MT4 is well-suited for forex trading and has a large community of users.
WebTrader: Accessibility from any device with internet access, no need for software installation, and provides a convenient way to trade on the go. WebTrader is a web-based trading platform that allows traders to access their accounts and trade directly from any web browser without needing to download or install any software. It offers a user-friendly interface and essential trading features.
These platforms provide flexibility and a range of tools to accommodate different trading styles and preferences.
Research and Eduation
Eightcap offers a comprehensive range of research and educational resources to help traders enhance their skills and make informed decisions. The Trade Zone section provides weekly trade ideas, market forecasts, and mid-week commentary webinars, offering valuable insights into market trends and opportunities. Eightcap Labs delivers practical insights and resources to aid in skill development. The broker also hosts regular Events & Webinars featuring guest analysts who cover trading fundamentals and advanced strategies. Additionally, the AI-powered Economic Calendar offers historical market impact and sentiment data to generate daily trade ideas.
Customer Service
Eightcap offers robust customer support to assist traders and enhance their trading experience. They provide multiple contact options, including email support at global@eightcap.com for inquiries and assistance. For direct communication, traders can call +61 3 8592 2375. Additionally, Eightcap offers fast real-time chat support available 24/5 through their website, accessible by clicking the chat button in the bottom right corner. These support channels ensure that traders receive timely and efficient help with any questions or issues they may encounter.
Conclusion
Eightcap is a reputable forex and CFD broker known for its low fees and user-friendly platforms like MetaTrader and TradingView. It offers a wide range of trading products, robust customer support, and comprehensive educational resources. While it is regulated by ASIC, providing strong oversight, there are concerns about a suspicious clone under CYSEC regulation and unspecified insurance coverage details. Eightcap's advanced security measures and diverse account options cater to various trading needs, making it a solid choice for many traders.
FAQs
Is Eightcap safe to trade？
Eightcap is generally considered safe to trade due to its regulation by ASIC, which provides strong oversight. However, there are concerns regarding a suspicious clone under CYSEC regulation, and specific details about insurance coverage are not publicly specified.
Is Eightcap a good platform for beginners？
Yes, Eightcap is a good platform for beginners. It offers user-friendly trading platforms like MetaTrader and TradingView, comprehensive educational resources, and robust customer support, which can help new traders learn and navigate the trading environment effectively.
Is Eightcap legit？
Yes, Eightcap is a legitimate broker, regulated by ASIC, which ensures its credibility and compliance with industry standards. However, traders should be aware of concerns regarding its CYSEC regulation and the existence of a suspicious clone.
Risk Warning
The information provided is based on WikiStock's expert evaluation of the brokerage's website data and is subject to change. Besides, online trading entails substantial risks, potentially leading to total loss of invested funds, so comprehending associated risks before engaging is crucial.
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