History and Establishment
In 2009, the company was first established in Melbourne, Australia. Its aim was to provide accessible and transparent trading services. Within that time, it grew into a globally recognized broker, facilitating forex and CFD trading to its customers, both retail and institutional.
Mission and Vision
The company's mission is to manufacture its vision through innovative technology, public prices, and great support. The aim is to provide traders with the most comprehensive and user-friendly trading platform to empower all traders around the world to dive into their waywardness.
Global Presence
With its headquarters in Melbourne, Eightcap remains in different parts of Europe and Asia, providing services to clients in over 100 countries. It has multilingual support and local services to attend to different customer needs.
Advantages and Disadvantages
Strengths
- Regarded broker with good reputation
- Wide range of instruments available
- Low Spreads for Forex
- Good Platform selection
- Professional Research
Areas for Improvement
- Conditions and trading costs vary according to entity
- Education is limited
- No 24/7 Support
Security and Regulations
Licenses Held
Eightcap is regulated by Australia's ASIC, Bahamas Securities Commission (SCB), and Vanuatu Financial Services Commission (VFSC), ensuring it meets global financial practices.
Tailoring and Insurance Fund Segregation
Traders' property is held up in separate accounts with top-level banks for maximum securitization. It provides negative balance protection to stop traders from moving with money more than what they hold.
Tradable Instruments
Forex Pairs
Over 40 major, minor, and exotic currency pairs are being offered by Eightcap, having tight spreads as well as leverage nearing 1:500.
Commodities
Clients can scuffle through trading several commodities-these include golds and silvers, crude oils, and natural gases, giving a taste of configurations into the portfolio.
Indices
Gains access to some of the largest bourses across continents: NASDAQ, S&P 500, FTSE 100, and DAX.
Cryptocurrencies
Access to some of the most sought-after cryptocurrencies-including Bitcoin, Ethereum, and Litecoin-are the main feature delivered by Eightcap for trading needs of investors in digital assets.
Account Types
Raw
| Minimum deposit | 0 |
|---|---|
| Commission | 0.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:500 |
| Margin call level | 80 |
| Stop-out level | 50 |
Standard
| Minimum deposit | 0 |
|---|---|
| Commission | 1.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:500 |
| Margin call level | 80 |
| Stop-out level | 50 |
TradingView
| Minimum deposit | 0 |
|---|---|
| Commission | 1.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:500 |
| Margin call level | 80 |
| Stop-out level | 50 |
Fees and Charges
Spreads & Commissions
Against this background, Standard Account holders will be charged beginning from 1.0 pips on each round trip, while Raw Accounts can tout their services as costing as little as 0.0 pips. Commissions make up $3.50 per lot per side.
Swaps
During the night, traders with open spot transactions either collect or pay overnight swap charges, which are described transparently. Islamic accounts do not incur swap fees for overnight positions.
Inactivity
It will cost something in the case of inactivity on accounts, controlling such behavior and allowing active trading.
Trading Platforms
| Available tools | Forex, Commodities, Indices, Crypto, US Stocks, Global Stocks |
|---|---|
| Cryptocurrencies | ETH, XMR, DOGE, NEM, BTC, LTC, BTC Cash, XRP, DASH, Fantomcoin, NEO, TRX, Kyber Network, ADA, XLM, EOS, Qtum, VeChain, Waves, storm, Metal, DOT, BNB, LINK |
| CFD | Forex: 55 Indices: 16 Energy: 3 Metals: 6 Cryptocurrency: 124 ETF: 34 Stocks: 565 |
Stationed Evolutions
MetaTrader 4 or MetaTrader 5 is used by many traders. MetaTrader 4 and 5 provide very moderate and basic charting tools with everything automated as on autopilot with nearly all indicator options available.
Mobile Applications
Users can optimize their trading opportunities by downloading mobile trading apps for both their Android and Apple devices respectively.
WebTrader
A very practical web-based solution, the MT4 platform means no download and poses restrictions on your basic operations.
Customer Care
How to Register
All you need to do is bring along your online application, completed to the finish, choose your account type that you will feel comfortable with, and then all the necessary verification documents that the broker mandates you to provide.
Verification Requirements
The application includes copying front and back data of your passport or national identification cards, along with residential proof like utility bills or bank-account statements.
Deposits and Withdrawals
Payment Methods
The Means Wherewithal is Transferred to Trade: These may include bank transfers, credit and debit cards, or some such popular e-wallets as Skrill, Neteller, PayPal, etc.
Speed
Almost instant, you can easily deposit the cash. Withdrawals usually take between 1-3 business days but vary depending on the exact payment method.
Associated Fees
The broker will charge at very low rates, but withdrawals will cost when done using certain approved methods. Full details are posted on site.
FAQ
Is the broker regulated? By whom?
Yes. Regulated by ASIC, SCB, and VFSC, this broker stands as an assistant to open secure trading.
Which trading platforms can be used?
While offering mobile apps for trading from anywhere, Eightcap also provides WebTrader for users to trade from direct internet services, alike, as it supports both MetaTrader 5 and MetaTrader 4.
What is the minimum deposit amount required in opening an account?
As low as $100 will work for you in opening any account type.
How many different types of accounts are available with the broker?
There are Standard, Raw, and Islamic types of accounts that suffice various trading requirements.
What fees or commissions, if any, are charged?
If you can differentiate, there are some spreads in commissions and then raw accounts, swap rates for overnight positions, and inactivity fees against inactive/dormant accounts.
Highest leverage available
Depending on the account type and the particular jurisdiction in which you are dealing with, the maximum leverage available may be up to 1:500.
Demo
Yes, Eightcap makes all services with virtual funds, making the demo account fully unused but very much demanded with traders who seek to get a little practice and use their strategies without actually costing them.
How to Contact Customer Support
Live Chat, Email, Phone, and All Services Welcome at Eightcap Supports Traders in Every Language During Business Hours.