Eightcap is an online trading platform that offers access to more than 200 financial instruments, including forex, stocks, indices, and commodities. The company was founded in 2009 and is headquartered in Melbourne, Australia, with additional offices in London, Shanghai, and Bangkok. The platform is regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK, ensuring that clients’ funds are held in segregated accounts and that the company operates with transparency and fairness.
The purpose of this review is to provide an objective assessment of Eightcap’s services, including the platform’s features, trading conditions, and customer support. It aims to help potential clients make an informed decision about whether Eightcap is the right trading platform for their needs.
It is important to disclose that I am an artificial intelligence language model and not affiliated with Eightcap or any other trading platform or financial institution. My analysis is based solely on publicly available information and should not be considered as financial advice. Potential clients should always do their own research and seek advice from a qualified financial advisor before making any investment decisions.
Eightcap Pros and Cons
Eightcap is a popular online trading platform that provides access to global markets, including forex, commodities, and indices. While the platform offers several benefits for traders, there are also some drawbacks that potential customers should be aware of.
Pros
- Competitive Spreads: Eightcap offers tight spreads on various financial instruments, allowing traders to enter and exit trades with minimal transaction costs.
- Advanced Trading Tools: The platform provides a range of advanced trading tools, including technical analysis indicators, charting tools, and automated trading systems.
- Multiple Trading Platforms: Eightcap supports several trading platforms, including the popular MetaTrader 4 and 5, which allows traders to choose the platform that suits their trading style.
- Educational Resources: Eightcap offers educational resources such as webinars, video tutorials, and trading guides to help traders improve their trading skills.
- Excellent Customer Support: The platform provides customer support in multiple languages, and the support team is available 24/5 via live chat, email, or phone.
Cons
- Limited Product Range: Eightcap offers a limited product range compared to other brokers, and it doesn’t support cryptocurrencies.
- High Inactivity Fees: The platform charges high inactivity fees if traders don’t place any trades for more than three months.
- Limited Funding Methods: Eightcap only supports a few funding methods, which could be inconvenient for some traders.
- Limited Trading Hours: Eightcap’s trading hours are limited, and it doesn’t provide access to weekend trading.
- Lack of Regulation: Eightcap is not regulated in all jurisdictions, which could be a concern for some traders.
Safety and Regulation
Eightcap is a global online trading provider with a commitment to ensuring the safety and security of its clients’ funds and personal information. The company operates under strict regulations and compliance requirements, and it adheres to the highest industry standards to ensure its clients’ protection.
Regulatory bodies overseeing Eightcap: Eightcap is regulated by several reputable regulatory bodies worldwide, including the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). ASIC is a prominent regulatory body that oversees financial companies operating in Australia, while VFSC regulates financial companies operating in Vanuatu.
Security measures for clients’ funds and personal information: Eightcap takes the security of its clients’ funds and personal information seriously. The company stores all client funds in segregated bank accounts with top-tier banks, ensuring that they are completely separate from the company’s operating funds. Additionally, Eightcap uses advanced encryption technology to secure its clients’ personal information and sensitive data.
Complaints and resolutions: Eightcap has a dedicated customer service team that is available 24/5 to handle clients’ queries, concerns, and complaints. The company has a comprehensive complaints handling procedure that ensures that all complaints are addressed promptly and fairly. If a client is dissatisfied with the company’s resolution, they can escalate the issue to the relevant regulatory body for further investigation and resolution.
Related Post: eToro Reviews 2023: Features, Platform, and User Feedback
Offering of Investments
Eightcap is a reputable online trading platform that offers a range of investment opportunities to traders worldwide. The platform offers access to a wide range of financial instruments, including Forex, commodities, cryptocurrencies, stocks, and indices. This diversity in instruments makes it an attractive option for traders with varied investment preferences.
Range of financial instruments available for trading: Eightcap offers a diverse range of financial instruments for trading, which includes over 200 assets across Forex, commodities, cryptocurrencies, stocks, and indices. Traders can choose to trade these instruments in various markets, including spot, futures, and options. The platform provides access to some of the most popular and liquid markets, such as EUR/USD, gold, Bitcoin, and S&P500.
| Forex Trading (Spot or CFDs) | Yes |
| Tradeable Symbols (Total) | 736 |
| Forex Pairs (Total) | 42 |
| U.S. Stock Trading (Non CFD) | No |
| Int’l Stock Trading (Non CFD) | No |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (CFD) | Yes |
Trading conditions for different account types: Eightcap offers three types of trading accounts, namely the Standard, Raw, and Professional accounts. The Standard account offers fixed spreads, while the Raw account provides raw spreads with a commission charge. The Professional account is designed for experienced traders who require a more personalized trading experience. Each account has different minimum deposit requirements, leverage ratios, and trading conditions, allowing traders to choose the best account type that suits their trading style and experience.
Leverage and margin requirements: Eightcap provides traders with competitive leverage ratios that vary according to the account type and the financial instrument being traded. The maximum leverage ratio offered is up to 1:500, allowing traders to take larger positions with less capital. However, traders should exercise caution when using high leverage ratios as it increases the risk of loss. Margin requirements also vary depending on the financial instrument and the leverage ratio chosen by the trader.
You May Also Like: City Index Review 2023: Is it the Best Online Trading Platform?
Commissions and Fees
Eightcap is an online broker that provides access to financial markets, including forex, stocks, indices, and commodities. The broker charges commissions and fees for its services, which vary based on the trading instruments and account types. In this article, we will discuss Eightcap’s commissions and fees in detail and compare them with other brokers in the market.
Spread and Commission Models: Eightcap offers two types of spread models: variable and raw spreads. The variable spread model charges a markup on the market spread, while the raw spread model charges a fixed commission. The commission varies from $3.5 to $7 per lot, depending on the account type and trading instrument.
| Minimum Deposit | $100 |
| Average Spread EUR/USD – Standard | 1.0 |
| All-in Cost EUR/USD – Active | 0.76 |
| Active Trader or VIP Discounts | No |
| ACH or SEPA Transfers | No |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
Non-Trading Fees: Eightcap does not charge any deposit or withdrawal fees. However, there are some non-trading fees, such as inactivity fees, overnight swap fees, and currency conversion fees. The inactivity fee is $50 per month after six months of inactivity, while the overnight swap fee is charged for holding positions overnight. The currency conversion fee is 1% for non-USD account holders.
Comparison with Other Brokers: When compared with other brokers in the market, Eightcap’s commissions and fees are competitive. The variable spread model is similar to other brokers, while the raw spread model’s commission is relatively lower. The non-trading fees are also reasonable, and the broker does not charge any deposit or withdrawal fees, making it more appealing to traders.
Further Reading: BDSwiss Review 2023: Is it a Reliable Forex and CFD Broker?
Trading Platforms
Eightcap is a global online trading provider that offers access to a variety of financial markets, including forex, indices, commodities, and cryptocurrencies. The company provides its clients with a range of advanced trading platforms to cater to different trading styles and needs.
MT4 & MT5: MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms are two of the most popular trading platforms in the industry, and Eightcap offers both to its clients. MT4 is known for its user-friendly interface, customizable charts, and advanced technical analysis tools. MT5, on the other hand, offers additional features, such as more timeframes, more advanced order types, and access to a greater number of markets. Both platforms are available on desktop and mobile devices.
Mobile Apps: In addition to desktop platforms, Eightcap offers mobile trading apps for iOS and Android devices. The mobile trading apps are designed to provide traders with access to real-time market data, advanced charting, and a range of trading tools, all from their mobile devices.
WebTrader: Eightcap also offers a web-based platform, WebTrader, which allows traders to access their accounts from any web browser without needing to download or install any software. The platform offers a simple and intuitive interface, customizable charts, and a range of trading tools.
Explore More: Swissquote Review: Is This the Best Online Broker in 2023?
Market Research and Analysis
Eightcap is a global Forex and CFD trading platform that provides traders with a range of research and analysis tools to help them make informed trading decisions. The platform offers a wide range of features, including daily market commentary and analysis, an economic calendar and news feeds, and technical analysis tools.
One of the key features of Eightcap is its daily market commentary and analysis. The platform provides traders with regular updates on the latest market news, trends, and events. This information is critical for traders who need to stay informed about market-moving events and adjust their trading strategies accordingly.
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | No |
| Autochartist | No |
| Trading Central (Recognia) | No |
| Social Sentiment – Currency Pairs | Yes |
In addition to its market commentary, Eightcap also offers an economic calendar and news feeds. These features provide traders with up-to-date information on key economic indicators and events that may impact the markets. This information is essential for traders who need to stay on top of market trends and make informed trading decisions.
Finally, Eightcap provides traders with a range of technical analysis tools. These tools include charting software, indicators, and other features that allow traders to analyze market trends and identify potential trading opportunities. By using these tools, traders can make more informed trading decisions and increase their chances of success in the markets.
Discover: Markets.com Review: Is This the Best Broker for You in 2023?
Education and Resources
Eightcap is a renowned online trading platform that offers a range of educational resources and trading tools to help traders of all levels to enhance their trading skills and knowledge. The platform’s educational resources are designed to empower traders with knowledge and skills required to make informed trading decisions.
Trading academy and educational resources: The Eightcap trading academy provides educational resources such as articles, tutorials, videos, and ebooks that cover various aspects of trading. These resources are available to all users, and they cover a wide range of topics, including fundamental and technical analysis, trading psychology, risk management, and trading strategies.
Webinars and seminars: Eightcap regularly organizes webinars and seminars featuring experienced traders, industry experts, and analysts. These events cover different topics related to trading and offer traders an opportunity to learn from the experts, ask questions, and interact with other traders.
Customer support and assistance: Eightcap provides excellent customer support and assistance to its users. The platform’s support team is available 24/5 to help users with any issues they may encounter while using the platform. Users can contact the support team via phone, email, or live chat. Additionally, Eightcap offers a range of account types, including demo accounts, to help new traders learn how to use the platform and improve their trading skills without risking any real money.
Check out: FP Markets Review 2023: Is This Broker Worth Your Investment?
Final Thoughts
Eightcap is a reputable online trading platform that provides access to a wide range of financial markets, including forex, commodities, indices, shares, and cryptocurrencies. With its advanced trading tools, educational resources, and top-notch customer support, Eightcap has established itself as a trusted and reliable partner for traders of all levels.
One of the key features of Eightcap is its user-friendly trading platform, which is designed to provide fast and easy access to the markets. Traders can choose from various trading instruments and customize their trading experience with a range of advanced tools and features, such as real-time charts, technical analysis, and risk management tools.
In addition, Eightcap offers a range of educational resources to help traders improve their knowledge and skills. These resources include webinars, tutorials, and guides that cover a range of topics, from basic trading concepts to advanced strategies.
Another important aspect of Eightcap is its customer support. The platform provides 24/5 support in multiple languages, ensuring that traders can get the help they need whenever they need it.
Overall, Eightcap is a great option for traders looking for a reliable and user-friendly trading platform. With its range of trading tools, educational resources, and excellent customer support, Eightcap is a platform that traders can trust to help them achieve their financial goals.
More Resources: GWtrade Review 2023: Is This Broker Worth Your Investment?