Eightcap Review 2023 Pros, Cons & Trading Accounts Revealed

eightcap review

The broker offers two kinds of accounts – Raw and Standard – which complement each other very nicely. There are also ample base currencies available, while swap-free trading is available upon request via EigthCap’s Islamic accounts. We contacted EightCap’s customer support on December 27 via live chat. An agent connected almost instantly and responded to our questions.

eightcap review

All the versions of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms are available, which are the desktop, web and mobile trading apps. Both MetaTrader platforms were developed by ‘MetaQuotes Software Corporation’ which is a trading software company based in Cyprus. Today, MetaTrader has remained amongst the best trading platforms used all over the world by many online brokers, traders and investors. The 30-day demo account (which expires after 30 days by default) gives you access to the company’s products without risk because it uses paper money only.


This means the broker can never get their hands on your funds. We can’t fault Eightcap on its minimum deposit rules and funding methods — they’re low and fair. The minimum deposit is 100 of whatever your chosen base currency is (i.e.AUD 100 or GBP 100). The client services team is available to help 24 hours a day on working days by phone or email. However, if you would prefer, you can also ring their phone line or send a line to their customer service email.

  • Metatrader 4 is a well-known trading platform among experienced traders due to its customisability and epic capabilities.
  • The broker also offers zero commission trading via their Standard account and spreads start from 1.0.
  • Sadly though a good chunk of this content are updated less frequently.
  • As simple as it sounds/your strongest feeling – with direct percentages on current and historical positions in a symbol held by other traders.

The Excel RTD app allows you to enter real-time data into Excel using just the RTD function – no macros, programming, or XLL add-ins are required. You may even send basic trading commands from VBA code in Excel. This attribute makes this broker unique as many of the brokers in the industry do not spare the traders and charge heavy account inactivity fees. Yet, this broker is not stand alone, and there are a few brokers who do not charge account inactivity fees only. Eightcap offers two account types throughout its global entities, including those in Australia and Vanuatu.

Offering both the MT4 and MT5 platforms, as well as two competitive accounts, users can invest in over 1000 financial instruments with competitive trading conditions. This 2023 review can help you decide whether to open an Eightcap account, covering spreads, leverage plus the mobile app and demo account. Eightcap provides the industry standard MetaTrader platforms for you to get convenient access to the range of available markets.

We endeavor to provide tailored and efficient support so we will make sure to look into this for you. We will get your account manager to contact you directly in order resolve your issue. Took my first three trades today and they were executed like butter and eightcap invites you to weekly seminars. Hello traders, it’s a good application and experience of training is very good. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.

Maker vs Taker Fees What are Maker and Taker Fees?

The economic calendar is part of the tools that are implemented within the MT5 trading platform. I would have liked to have seen it included in MT4, but you can always install it as an add-on. Eightcap charges no deposit fees and withdrawal fees and has various payment methods. Having a demo account is a great way to get to know a broker’s services. You can open a demo account within the desktop platform, for example. Eightcap only provides a web trader platform if you choose to open an MT5 account.

Eightcap is a safe broker (average-risk) for forex and CFDs trading since it is regulated in one tier-1 and some low tier regulatory authorities like SCB and VFSC. Eightcap is a reputable worldwide https://forexhero.info/ CFD and FX broker founded in 2009. The Australian Securities and Investments Commission (ASIC) regulates Eightcap in Australia. If you are trading with Eightcap, VPS will be within your reach.

Review Methodology

Each individual client account can be customised according to commission, leverage, performance fees, account currency, etc. I think this is an excellent MAM solution, something similar to what another top broker in Axi provide. Established in Melbourne, Australia in 2009, Eightcap was launched with a mission to provide exceptional financial services to a global clientele. The broker gives you access for the online trading of forex currency pairs, indices, commodities and cryptocurrencies. You can access the markers via web, desktop and mobile apps, using the MetaTrader & TradingView platforms in a modern and secure trading environment.

You can get access to it if you have met the specified qualification criteria mentioned on the broker’s website. It is an Australia based e-payment system that the broker use as one of the deposit/withdrawal methods. Its estimated processing time is 2 business days while there are no transactions fees.

Along with the higher number of technical indicators and graphical options, you should be unstoppable — as long as you know how to use everything properly. Whichever platform you choose, you’ll then have to download the relevant software (available from Windows, Mac, the App Store (for iOS), and Google Play Store). Both are available for your phone or PC, but only MetaTrader 5 has a web version.

Significant hurdles remain for Eightcap to become a top MetaTrader Broker, such as its narrow range of available markets and lack of a proprietary mobile app. Overall, Eightcap is slightly more expensive than the lowest-cost forex brokers. Eightcap’s 45 forex pairs and roughly 900 CFDs put its offering of investments in line with the industry average. The following table summarizes the different investment products available to Eightcap clients. This new sponsorship allows traders to learn from FX and CFD experts by copying trade ideas and seeing how trading risk and emotion are managed.

For all trading accounts, the minimum opening balance is $100. Fusion Markets for example have a $1 minimum deposit requirement. When you open a live trading account, you receive free access to Capitalise. This offers a way to automated your trading strategies without needing to do any complex coding. Instead, you can use plain English to give instructions on how you want Capitalise.ai to handle your daily trades using multiplex automated systems. You can get the best of both worlds with human-planned and machine-traded strategies.

We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. One of the main advantages of CFD trading is that you can go long (buy) or short (sell) on financial instruments without needing to physically own the underlying asset. The difference between the price when you open and close the trade, is your profit or loss minus any brokerage fees. With no proprietary mobile app available, Eightcap simply can’t compete with industry leaders like IG and Saxo Bank. For our top picks among trading apps, read our guide to best forex trading apps. Eightcap lists an average spread of 0.06 pips for its commission-based Raw account.

In our reviews, we examine the licenses and regulations of each entity operated by a broker. This allows us to compare each entity’s different levels of protection. We rank licenses by various regulatory eightcap review bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation. Traders should consider the pros and cons of the Eightcap account types before opening and funding one.

Eightcap also offers a Live Market Update, which assesses the forecasts mid-week, to see how these predictions shaped up, as well as end-of-week reviews. Mobile trading is widespread among millennial and GenZ traders, copy traders, and those from emerging and frontier Forex markets. Traders may also use the TradingView mobile app, which connects to Eightcap. In-house research is regularly published, and new traders can access an adequate educational section filled with quality content.

GSK Shares Rose 1.5% on Sale of Haleon Shares, Court Decision – AskTraders

GSK Shares Rose 1.5% on Sale of Haleon Shares, Court Decision.

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It is also great that deposits and withdrawals are free of charge on the broker’s end, with a user-friendly process. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products. In Australia, Eightcap has tighter regulation than FVSC requires.

GSTechnologies (GST) Shares Rallied 11% on FCA Postponement – AskTraders

GSTechnologies (GST) Shares Rallied 11% on FCA Postponement.

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I came across Eightcap while looking for a tight spread brokers to trade commodities. I was surprised on how well the customer service experience was. The MetaTrader 5 platform incorporates the MQL5 programming language, used by automated trading software that runs on your computer and executes trades. It follows financial symbols 24 hours a day, copies trades, creates and transmits reports, analyses news, and even gives a specialised custom graphical interface. That concludes our review of Eightcap, we’ve covered the platform’s main features and what it has to offer. Eightcap differs from the competition by having an advanced user-friendly design, making it easy to navigate the platform.

Kudos to your team effort.Just tell your Live Chat people not to try an impress us with their knowledge unless they are asked for something specifically. We might just have been trading longer than some of their ages, but overall very satisfied, thanks. The customer support was very prompt and the team helped me resolve an issue immediately. The information on this website is general in nature and doesn’t take into account your personal objectives, financial circumstances, or needs. Eightcap makes reasonable efforts to provide accurate translations of the website in other languages for your convenience. Where content is missing, inaccurate or incomplete, the English version prevails.