Eightcap Review 2022
MT4 and MT5 are offered by Eightcap, a multi-regulated FX and CFD broker. The company offers zero commissions, low spreads, award-winning trading systems, and free education.
Awards
• DayTrading.com: Best MT4/MT5 Broker for 2022.
• Global Forex Awards: Best Global MT4 Broker 2020
View All
Eightcap Statistics & Facts
Instruments: indices, shares, commodities, cryptocurrencies, forex, CFDs, and equities
Yes, a demo account
Min. Deposit £/€/$100
Payment Options Credit Card, Debit Card, BPAY, WorldPay, Neteller, PayPal, POLi, Skrill, UnionPay, Visa, Wire Transfer, and Bitcoin Payments
Min. Trading 0.1 lots
Governed by VFSC and ASIC
MetaTrader 4 Yes,
MetaTrader 5 Yes,
cTrader No
OmniTrader No
AlgoTrader No
TradingView Yes
Trade Center No
Autochartist No
eSignal No
Account No. STP
ECN Account Number
Account No. DMA
Yes MAM Account
PAMM Account Number
NO LAMM Account
Account No. for Demat
Android and iOS apps for mobile
Yes to Margin Trading
Index of Volatility – 0
Yes, spot trading
Permanent Swaps No
ELWs No
REITs No
Machine learning and AI
No Robo Advisor
No P2P Trading
Protect from Negative Balance: Yes
Hosting VPS Yes
Tournaments No
Demonstration Contests
Admin Accounts No
Market Maker No
Capitalise.ai’s Auto Trading and Expert Advisors
No, social trading
No Copy Trading
Trade Signals Cryptocrusher: cryptocurrency signals
Islamic Bank Account
Account
USD, EUR, GBP, CAD, AUD, NZD, and SGD as currencies
FTSE UK Index, Hang Seng, Hong Kong Stock Exchange, Japan Exchange Group, London Stock Exchange, Nasdaq, New York Stock Exchange, Australian Securities Exchange, CAC 40 Index France, DAX GER 40 Index, Dow Jones, Euronext, and
CFD
Trade CFDs on well-known indices, equities, currencies, cryptocurrencies, and commodities.
1.2 FTSE Spread
GBPUSD Spread is 1.0, yet it’s 0 on a raw account.
0.03 Oil Spread
Stocks Spread $4 per round turn ($0.02 per share, per side)
Utilize a leverage of 1:30 to 1:500, depending on local laws.
Forex
Trade 40+ major, minor, and exotic pairings on a platform that has won awards. Low commission and narrow spreads
GBPUSD Spread is 1.0, yet it’s 0 on a raw account.
Spread of 1.0 for EUR/USD but 0.0 for raw accounts
Spread of 1.0 for EURGBP but 0.0 for raw accounts
Assets 40+
Cryptocurrency
Trade key altcoins, cross pairs, indexes, and Bitcoin. Eightcap offers over 250 derivatives backed by cryptocurrencies.
Ranging From $0
Lending No
Staking No
Mining No
Vehicle Market Maker No.
XLM, XRP, BCH, BNB, BSV, BTC, CAKE, DASH, DOGE, DOT, EOS, ETH, KSM, LINK, LTC, MATIC, NEO, SHIB, SOL, SUSHI, THETA, TRX, UNI, VET, XLM, AAVE, ADA, ATOM, AXS, BCH, BNB, BSV, BTC,
Risk Alert: Your money is in danger
Contents
A global CFD and forex broker is Eightcap. Users can invest in more than 1000 financial instruments with competitive trading conditions thanks to the availability of the MT4 and MT5 platforms as well as two competitive accounts. This 2022 evaluation, which covers spreads, leverage, as well as the mobile app and demo account, can assist you in deciding whether to register an Eightcap account.
Overview of eightcap
In 2009, Eightcap was established with its headquarters in Melbourne, Australia. Joel Murphy serves as the company’s CEO, and it is subject to regulation by both the Securities Commission of The Bahamas and the Australian Securities and Investment Commission (ASIC) (SCB).
Eightcap has offices all over the world and employs a sizable, multilingual customer service team with locations, among others, in the UK, Sofia, Bulgaria, China, and Thailand. With zero-pip spreads and access to top-tier liquidity, ultrafast execution is possible. In addition to wire transfers and debit cards, the brokerage also accepts fee-free deposits and payments through well-known eWallets.
Trading Environments
TradeStation 4
The prestigious MT4 platform makes it easy to invest online in currencies, indices, and commodities. It’s a great all-around platform because to its user-friendly interface, automated trading features, and extensive charting package.
Features consist of:
• 24 graphical items, 30 built-in indicators, and 9 time-frames
• Access to Expert Advisors via free trading robots (EAs)
• 3 order execution kinds and 4 waiting order types
• Current quotes from Market Watch
• Trading with one click
• Prior information
TradeStation 4
On computers running Windows, macOS, and Linux, MT4 can be downloaded.
Market Trader 5
MT5 is a cutting-edge trading platform that supports trading in currencies, indices, stocks, commodities, and virtual currencies. Customers gain from:
• 40+ graphical items, 38 technical indicators, and 21 time-frames
• Backtesting tools for automated trading bots
• 4 order execution kinds, 6 waiting order types
• Trading with a single click and advanced market depth
• Economic calendar and financial news
• Current quotes from Market Watch
• Hedging and nets
• Group discussion
• Prior information
Market Trader 5
On computers running Windows, macOS, and Linux, MT5 can be downloaded.
WebTrader
Additionally, Eightcap provides the MT5 Web Trader version. The web-accessible platform offers the same capabilities as the desktop download and can be simply accessed from the broker’s website. It is an easy approach to access to the financial markets that is quick.
Capitalise.ai
Customers of Eightcap can program instructions using plain English in an automatic trading platform that allows them to, for instance, buy $1,000 GBP/USD on Tuesday at 15:30 EST. It’s simple for beginners to create automatic trading strategies thanks to a sleek dashboard and guided tutorials. Investors may create simple and complicated algorithms for free without the need for coding knowledge.
A large selection of pre-programmed strategies are also available from Capitalise.ai, which customers may test risk-free or customize to their tastes before going live. See the video below for additional information.
Markets & Assets
Customers of Eightcap can trade on:
40 main, minor, and exotic currency pairs are available for trading.
• Share CFDs – Trade on 500+ of the most popular businesses in the US (NASDAQ and NYSE), the UK (LSE), Germany (EXTRA), and Australia, including Westpac Banking Corp. and Woolworths.
• Trade 10 of the most prominent indexes, including as the US30, UK100, and SPX500, using index CFDs.
• 250+ crypto pairings with cross pairs and indexes for cryptocurrency CFDs
• Trade commodities such as CFDs on gold, silver, and oil.
For further information, refer to the Product Disclosure Statement (PDS) of Eightcap.
Commissions & Spreads
The beginning spread for popular forex pairs (Raw Account) is 0 pip, and the starting spread for popular indices like the SPX500 is 0.4 pip. They begin at 0.1 USD for gold, 0.01 USD for silver, and 0.03 USD for oil spreads.
The spreads on cryptocurrencies range from 0 USD for Bitcoin Cash to 31.2 USD for Bitcoin. Spreads on shares are 0.02 USD per share and per side (4 USD per lot round turn).
Note that some assets’ spreads tend to increase during volatile trading periods. Additionally, this holds true when there is less liquid.
On the Raw account, commissions are levied at a rate of 3.50 USD per standard lot, and swap rates will be used for overnight foreign exchange trading.
Review of Leverage
At Eightcap Pty Ltd, the maximum leverage is 1:30. Customers dealing with Eightcap Global Ltd may use a maximum leverage of 1:500. This complies with legal limitations.
You may read more about the margin call procedure on the broker’s website. By getting in touch with the broker’s support staff, clients can also change their leverage limits.
Mobile Application
For the MT4 and MT5 platforms, which are accessible on iOS and Android devices, Eightcap provides a mobile app. With the additional benefit of 24/7 access from anywhere, the applications offer all the same functionality as the desktop platform.
You may easily download the trading app from the Apple App Store or Google Play after you have your MT4 or MT5 login information.
Mobile Application
Payment Procedures
Deposits
Several quick payment alternatives are available from Eightcap in a wide range of base currencies, all of which are processed through the Client Portal:
• PSP (Virtual Account)
• Debit or credit card
• Cryptocurrencies
• UnionPay China
• PayRetailers
Banking Wire
• Worldpay
• Fasapay
• Neteller
• PayPal
• BPAY
• Skrill
• POLi
Transaction fees are not applied to any payment methods, with the exception of bank transfers. Except for wire transfers, BPAY, and PayRetailers, which can take up to 3 days, Eightcap also offers rapid 24-hour deposit processing.
Withdrawals
Users can withdraw profits for nothing by utilizing any of the aforementioned strategies after submitting a request form via the Client Portal. Withdrawals should be processed by the broker within 24 business hours. Typically, clearing periods last between two and five business days.
Keep in mind that the payment type affects the maximum deposit and withdrawal amounts. The Client Portal contains thorough information.
Trial Account
Opening a free demo account with Eightcap is possible through the broker’s website. The same trading circumstances as a real-money account, including the same price feed, are available to users, along with access to $5,000,000 in virtual cash.
Demo accounts have a default duration of 30 days, although this can be extended upon request.
Added Value & Promotions
There are no promotions or deposit incentives available at this time from Eightcap. Watch the broker’s website, nevertheless, in case any fresh bargains become available. Before you begin trading, make sure to review the bonus terms and conditions.
Regulation
The company is independently governed by two organizations to safeguard the interests of its clients: Eightcap Pty Ltd is under the supervision of the Australian Securities and Investment Commission (ASIC), and Eightcap Global Ltd (Vanuatu) is under the supervision of the Vanuatu Financial Services Commission (VFSC). Eightcap is a licensed Australian Financial Services Provider as well (AFSL). According to the Corporations Act, client monies are likewise separated and housed at Tier 1 banks.
According to our assessment, the broker’s online trading services are real and not a fraud.
Extraordinary Qualities
The goal of Eightcap is to create a haven for MT4 and MT5 traders. The broker provides both novice and seasoned clients with a comprehensive education package. Regular market updates, predictions for the trading week ahead, live webinars, investing advice for CFDs and FX, MetaTrader lessons, and strategy guidance are all part of this.
Trading Resources
Users of Eightcap can also automate their transactions without having any programming experience. Investors can access automation and analytical capabilities like backtesting, loop strategies, smart notifications, and much more by using capitalise.ai.
Additionally, the online broker has teamed up with TradingView to provide robust charts and tools. With 50 drawing tools, 5,000+ investor-created indicators, and 100 built-in indicators, TradingView is a well regarded charting solution. Customers can open and close positions using their Eightcap accounts directly from Trading View’s charts.
Trading View is one of the largest social investment networks in the world and offers robust analyzing features. Investors can share ideas, talk about tactics, and explore markets on social media platforms with more than 30 million active users each month.
Investors are also given the following additional tools:
• Cryptocrusher – signaling service
• The charting algorithm Amazing Trader
• Ideal for high-frequency traders is the Forex VPS
TradingView
Account Formats
Two live accounts are provided by Eightcap:
• Common – advised for beginners
• Raw – advised for seasoned traders
Both account types have a $100 minimum deposit requirement, a 0.01 minimum trade size, and maximum leverage of 1:30 for Australian clients and 1:500 for clients outside of Australia.
The Standard account has $0 commissions, whilst the Raw account charges A$3.50 for each standard lot. This is the primary distinction between the two accounts. Seven base currencies are supported by both of them: AUD, USD, EUR, GBP, NZD, CAD, and SGD.
Benefits
There are many benefits to investing with Eightcap:
• Automated trading solution from Capitalise.ai
• MT4 and MT5 are accessible
• Positive customer feedback
• Quick client service
• Charts from TradingView
• No-cost withdrawals
ASIC regulations
Drawbacks
The following are drawbacks of trading with Eightcap:
• Temporary demo account (though this can be extended upon request)
• No bonuses or advancements
• No binary choices
Trade Times
Users get access to FX trading every day of the week. The trading hours for foreign exchange, however, differ by time zone. Sydney is open at 7 am and closes at 4 pm, Tokyo is open at 9 am and closes at 6 pm, London is open at 5 pm and closes at 2 am, and New York is open at 10 pm and shuts at 7 am, all according to AEST. Cryptocurrencies allow for round-the-clock trading.
Opening times differ in other markets as well; information is available on the broker’s website.
Customer Service
The multilingual, round-the-clock support staff of Eightcap can be reached at:
• Email: [email protected] or [email protected]
• Live chat – the website’s right side features a chat logo.
• Phone numbers: (613) 8373-4800, (613) 8375-9700, (613) 859-22375, and (673) 8353-82
Observe the most recent news on Eightcap’s social media channels:
• YouTube
The main office of Eightcap PTY LTD is located at Level 6, 360 Collins Street, Melbourne, VIC 3000, and Australia.
Investor Security
Between the platform and the client servers, data exchanges are encrypted using Secure Sockets Layer (SSL), a 128-bit protocol that is industry standard. Additionally, in order to access the MetaTrader platforms, server authentication is needed. Both the MT4 and MT5 platforms may support 2FA.
Eightcap complies completely with the General Data Protection Regulation, the Australian Privacy Principles (APPs), and the Privacy Act 1988 to ensure the protection of customer data (GDPR).
Eightcap Decision
Eightcap is a reputable CFD and FX broker that has been in business for more than ten years and provides both the MT4 and MT5 platforms. Both novices and experienced traders can start trading with ease thanks to competitive spreads, dependable customer care, and a free demo account option. To sign up for Eightcap right away, click the sign-up button below.
Accepted Nations
Certain countries, including as the US, New Zealand, and Japan, are prohibited from trading with EightCap.
Options besides Eightcap
If you’re looking for brokers that are comparable to Eightcap, we’ve produced a list of the best 5 below. Only firms that permit traders from your location are included in this list of brokers like Eightcap, which is arranged according to how similar they are.
1.Pepperstone – Pepperstone allows both professional and retail traders to trade CFDs. On the MT4, MT5, and cTrader platforms, clients can trade FX, indices, commodities, and equities.
2.FXCC – FXCC is a reputable trading broker that is subject to CySEC regulation. The brokerage provides zero commissions, leverage up to 1:500, and ECN transaction executions.
3.FBS – FBS is a reputable online broker that offers trading on MT4 and MT5 in a number of well-liked marketplaces. There are numerous account tiers and loyalty rewards available.
4.Axi is a reputable FX and CFD trading platform used by investors all over the world. It is well-liked by new and experienced traders alike due to its highly leveraged trading opportunities and $0 minimum deposit requirement.
5.TMGM – TMGM is an aggressive forex and CFD broker with a broad selection of low-cost instruments, features, and tools.
FAQ
Do I Need a Lot of Capital to Trade with Eightcap?
The minimum deposit is 100 AUD or its equivalent in another currency. 0.01 lots is the minimal position size.
What Is Eightcap’s Maximum Leverage?
The maximum leverage available from Eightcap for both accounts is 1:500. (In regulated markets, 1:30). Leveraged trading can enhance both potential gains and losses.
Can I get a demo account with Eightcap?
Yes, a demo account can be created on the website’s home page. For 30 days, users will have access to 5,000,000 in virtual funds (displayed in several currencies), with the same trading opportunities as a genuine account.
How can I sign up for an Eightcap live account?
To register, click “Create Account” in the top right corner of the broker’s website. Before completing five extra steps to personalize your account and confirm your identity, you must first complete a brief form. To create an account, you may also utilize our signup button.
On Eightcap, what can I trade?
On the MT4 platform, users may trade currencies, indices, and commodities. On the MT5 platform, users can trade currencies, indices, commodities, shares, and cryptocurrencies. Over a thousand assets are available in total.
Why Would Eightcap Do That?
A worldwide forex and CFD broker is Eightcap. In addition to a WebTrader solution and a well-known automated trading terminal, it provides the MT4 and MT5 platforms. Additionally, the company provides TradingView integration, spreads starting at 0 pip, and a cryptocurrency signals service.