Eightcap Review & Rating 2023

I would always test a broker on demo to begin with just to make sure I am happy with the conditions. Eightcap is a reputable regulated broker specialised in foreign exchange and Contracts for Difference trading. When trading with Eightcap, clients will also have the opportunity to automate their trades code-free using Capitalise.ai. Eightcap offers two types of accounts that incur differing fees and charges.

The MT5 platform is similar to MT4 – it is customizable, but has more order types. However, price alerts are still not available, and there’s no two-factor authentication. A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers.

This is essentially free trading money that you can use to start your account off with. This is much less risky than a standard bonus which requires a deposit. We all know that customer support can make or break your experience at a broker. Hence, it is a really important criteria for us when it comes to rating these brokers. If you have funded your account by a card in the past 90 days then when you withdraw they will send you back the initial funding via your card.

How To Buy and Sell Cryptocurrency on Eightcap

What we found as great, MT4 https://forexhero.info/s all the necessary tools and resources that are essential for successful trading, with a range of indicators, and strategies to use. Apart from offering to retail clients, this broker also brings technological advantages and partnership opportunities to affiliates, IBs and influencers. Our ultimate guide to the Eightcap minimum deposit is updated regularly. As a plus, there are good tools for technical analysis, like a strategy tester or Capitalise.ai’s automating tools. Eightcap is primarily a forex broker, but it also has some CFDs in its product selection, since they added Australian, US, UK and German shares. On the negative side, the platformfeels outdatedand some features are hard to find.

Start Trading – On the MT4 or MT5 platform, select the asset that you wish to trade and you should see a chart featuring the instrument. On the MT4 and MT5 trading portals, the latest swap rates may be viewed in the Market Watch panel. The long and short swap rates will be displayed on the platform’s ‘Specification’ panel, depending on the instrument selected. Users caught spamming or abusing will be deleted from the site and prohibited from future registration at thatsucks.com and affiliates. We recommend staying within the range of good taste and respectful language to avoid any unpleasantness.

Eightcap Trading Fees

The broker ensures that it remains compliant with all of the products and services that they offer to retail traders. For traders this Australia based forex broker is regulated by ASIC – a tier 1 regulatory body. The main methods Eightcap clients use to withdraw are bank cards and e-Wallets because of their convenience. Moreover, Eightcap allows its clients to withdraw using the same method they deposited with.

If you want to fund your account then you will need to head on over to your client portal and navigate to the deposit menu. You will be presented with an option to choose your payment method. Like with the MT4 platform, this is available on a number of different devices. They have the web-trader, PC / Mac client as well as a mobile app.

Is Eightcap Regulated?

Eightcap is a secure platform because they use the latest security technologies. Moreover, they have SSL encryption, making it harder to steal your information. Also, users can enhance protection by enabling 2-step authentication.

• However and in order to help traders in minimizing risks, which of course requires you to study well how to use leverage smartly.
• Eightcap has multiple features that make it stand out from the competition.
• Over 900 assets are available from the Standard and Raw accounts and can be traded through the popular MT4 and MT5 platforms.

Yes, the broker complies with most of the essential financial guidelines and is authorized by several top-tier regulators. Serving as a complex version of a classic economic calendar, Eightcap’s weekly market wraps underpin the most important-market movers over the following days. Eigthcap’s content is easy to follow and understand and it’s not jargon-heavy, making it accessible even to newbies.

Eightcap

For traders that trade in large volumes , it is better to open an account denominated in USD at a digital currency bank, especially for trading on assets such as the EUR/USD. This is because when trading a USD quoted currency pair with another currency account, there will be a small conversion fee for every trade made. We define beginner traders as inexperienced traders who have never traded before or have been trading for less than a year. Beginners often do not want to risk trading large sums of money, and will generally not be able to trade full-time during the workweek. Overall, compared to other similar brokers, Eightcap’s trading fees are average. Eightcap’s trading fees are average compared to other brokers.

However, do note that your payment provider may charge certain fees such as exchange rates and transfer fees. Eightcap is a global MT4 and MT5 broker, founded in 2009 in Melbourne, Australia. Now, the broker is regulated across multiple regions and provides its clients from all over the world to trade forex, indices, commodities, shares, and cryptocurrencies. You can trade with the tried and tested MetaTrader platforms and professional TradingView charting package. The MT4 and MT5 platforms are robust, scalable and loaded with multiple trading tools that can benefit all types and experience levels of traders.

However, at the time of our latest visit, we couldn’t locate this promotion anymore. After the binary options mania was over, many of the old brokers have transitioned into CFDs, Crypto and FX, without changing much apart from their name. That’s why we see a lot of unregulated CFD brokers and that’s why regulation is a positive extra. Forex — the foreign exchange market is the biggest and the most liquid financial market in the world. Trading in this market involves buying and selling world currencies, taking profit from the exchange rates difference.

Living in a country that does not really have the best documentation system, I was able to communicate effectively with the company and managed to register successfully. It’s very difficult to analyze on trading with eightcap server, the daily candle don’t start where the previous one ended, it will give much gab and that a red flag. Since launching in 2012, Bankless Times is dedicated to bringing you the latest news and informational content within the alternative finance industry.

What can I trade on Eightcap?

The receiving times are 2 – 5 business days for cards and 2 – 3 business days for e-wallets. The methods are Visa, Mastercard, China Union Pay, Skrill, Neteller, and wire transfer. EightCapoffers anaffiliate programin the form of IB or “Introducing Broker”. Applicants for the program will be required to complete a short online registration and on approval Refer new customers to EightCap for Commissions.

This can be a useful addition to your fundamental and technical eightcap review. Between 74-89% of retail investor accounts lose money when trading CFDs with this provider. Withdrawals will be processed by EightCap usually within 24 hours The rest will depend on how fast banks can process the transaction but at least on EightCap’s side, things are very fast.

Trade with a Regulated Broker

To bring more opportunities for clients, the company offers affiliate and white label programs for corporate clients. The company offers MetaTrader 4 and MetaTrader 5 access on desktop and mobile devices such as Android and iOS. Clients can also access MetaTrader 5 directly on their web browsers.

First, let’s go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees. Eightcap users are responsible for their funds being protected. This involves keeping your passwords safe and hiding your 2-step authentication code. Furthermore, your money can be insured up to a certain amount depending on the jurisdiction you live in. Eightcap showcases a variety of market updates, analyses, and overviews that are easily viewable by its users.

Fortunately, you won’t have to worry about commission when using the Standard account. Eightcap is proud of the fact that it doesn’t charge any fees on FX and CFD products. You will be charged a commission rate of $3.50 per standard lot when using a Raw account. You can also utilise the latest built-in features to track overnight fees that Eightcap will charge you for holding open positions overnight. You’ll find that it is possible to trade with spreads of as low as 0.0 pips.

I don’t think you can go wrong with either of these platforms if you want a clean interface and for analysing the markets, placing and managing trades. I still prefer MT4, probably because it was the first platform that I mastered and I haven’t really felt the need to switch over to MT5. I have also developed and use many automated systems for MT4, which are not cross compatible with MT5.

Aside from a demo account, Eightcap offers two simple trading accounts with variable spreads on either the MT4 or MT5 platform (click here for more on Eightcap’s trading platforms). Eightcap was awarded a very-high mark in the Deposit and Withdrawal category. The broker works with multiple payment service providers, including a variety of e-wallets and crypto-wallets. Payments to and from trading accounts are usually processed fairly quickly but more importantly, Eightcap does not charge deposits or withdrawals.

That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated. Answering this question is particularly challenging because of Eightcap’s multifaceted service that excels in so many ways.