Australia based broker Eightcap provide their service through MetaTrader 4, MetaTrader 5 as well as TradingView. The best thing about Eightcap is that the broker offer opening two accounts at a time and allow you to choose from 1000+ trading instruments. This comprehensive Eightcap review would talk about things like how much Eightcap costs to use, how much you can borrow, and how their phone app and demo account work.
It has some important unique points that make it good. If one would ask me, first, this has best prices for trading. Secondly, it’s got all possible options in trading, like money, stocks, etc. And lastly, they are very good in customer service for your inquiries or problems.
Eightcap Broker Overview
Eightcap started its journey to provide traders with top-notch trading services. This goal has remained very important for them to this day, and because of this, they have achieved significant growth. Today, Eightcap is known around the world and offers more than 800 trading instruments, including forex currencies and stocks. This shows how committed they are to making the trading experience even better and more unique. However, if we look at the reviews of many traders, they say that there is an Eightcap withdrawal problem, and that withdrawals can be delayed significantly. Many even claim that it can take more than 1 to 2 weeks.
Although Eightcap broker has won several awards and accolades for its services, such as Best CFD Broker in Australia 2022. This is a positive sign for traders and shows their outstanding performance. All of this is mentioned on their official website. If we talk about real traders who have used this broker, they say that Eightcap withdrawal not received issues occur, which is a very serious problem, and many traders have made similar complaints. This information is mentioned on many websites, and similar reviews can also be found on several forex broker review sites.
Eightcap provides forex traders with some of the best trading platforms to use, one of which is TradingView. This shows that the company is continuously working to improve the trading experience. They have also been awarded as a top broker alongside popular platforms such as MT4 and MT5, which are used by traders all around the world.
Eightcap Review: Quick Summary
| 🏢 Headquarters | Melbourne, Australia |
| 📆 Established | 2009 |
| 🗺️ Regulation | ASIC, FCA, CySEC, SCB |
| 🖥 Platforms | MetaTrader 4, MetaTrader 5 and TradingView |
| 📉 Instruments | Forex, Commodities, Indices, Shares and Cryptos |
| 💳 Minimum Deposit | $100 |
| 💰 Deposit Methods | Credit/debit card, Cryptocurrencies, China UnionPay, PayRetailers, Bank Wire, Worldpay, Fasapay, Neteller, PayPal, BPAY, Skrill, POLi ( *This depends on the country of residence of the client. ) |
| 📱 Mobile Trading | Yes |
| 🌍 Web Trading | Yes |
| 💵Minimum Trade Size | 0.01 Lots |
| 🎢 Maximum Leverage | Up to 1:500 ( *This depends on the country of residence of the client. ) |
| 🌍 ECN | Yes |
| 🤖 Robots | Yes |
| 🎯 Scalping | Yes |
| ☎ Customer Support | 24/5 |
Eightcap Review Regulations
Having been successfully established in multiple jurisdictions, the broker attests to its success in meeting the highest standards of transparency, security, and accountability. Eightcap is a regulated member from four jurisdictions: ASIC, CySEC, FCA, and SCB.
The broker operates under the Eightcap Pty Ltd name with the license number ABN 73 139 495 944. They follow the rules set by the Australian Securities and Investments Commission (ASIC), which makes sure companies in Australia do things correctly. They have a license number (AFSL 391441) that proves they follow ASIC’s rules. Their office address in Australia is The Rialto, South Tower, Level 35/525 Collins St, Melbourne VIC 3000, Australia.
In the United Kingdom, Eightcap Group Ltd is part of Eightcap. They are duly regulated by the Financial Conduct Authority, the UK regulatory body for all financial activities. Their registration no. (FRN 921296) shows their conformity to standards laid by FCA. The head office is located at 40 Gracechurch Street, London, EC3V 0BT.
In Cyprus, a branch of Eightcap has been established as Eightcap EU Ltd. This organization adheres to the set guidelines and regulations by the CySEC, which is a recognized authority in Cyprus over all financial activities. It is licensed under number 246/14, proving its credibility by CySEC. Their office is at Anexartisias 187, 1st floor, 3040 Limassol, Cyprus, which clearly indicates their transparency.
Eightcap Review: Account Types
Eightcap mainly offers two types of accounts, Raw and Standard accounts. Additionally, they also offer a TradingView account. However, all these accounts have different features. These also feature an Islamic account. Let’s get to know each account type.
Raw Account: It is good for a person whose main trading activity is the forex CFD trading, or a user experienced enough in general currency exchange trading. You will be able to access the widest, beginning at minimum of 0.0 pips, spreads by this account type. The minimum amount deposited to hold such an account is $100, while the smallest lot is 0.01, depending on the instrument. Such an account is also appropriate for EAs, automated programs that help you trade.
Standard Account: You can take advantage of trading without paying an extra fee, and you’ll have really small price differences, starting from 1.0 pips. You can begin trading now with at least $100, and even if you want to make a small trade (0.01, depending on what you’re trading), you can do that. This account also works well with EAs, which are tools that can help you trade automatically.
Both accounts require a minimum deposit of $100, which most traders cannot easily afford. This is significantly higher than alternative options like Fxview, PU Prime, or Xtreme Markets, where minimum deposits range from $10 to $20. Both accounts allow trades starting from as little as 0.01 lots. The maximum leverage is 1:30 for clients from Australia, the UK, and the EU, while it is 1:500 for other countries.
The big difference between the two accounts is how they charge you. The Standard account doesn’t ask for any extra money, but the Raw account adds A$7 for each standard lot you trade. Now this account offers lesser price differences in return for it. Both of these accounts are offered in the seven different currencies which are AUD, USD, EUR, GBP, NZD, CAD, and SGD. This is good news to make it easier for different traders from different countries, for example, Canada, to work with their trading and account in their currency.
TradingView Account: When you have a TradingView account, you join the biggest trading community globally. You can use a really advanced tool to make charts, and there’s a special Pine-Script language you can use. They also give you trading ideas every day, offer webinars to learn more, and even let you create your own indicators. You can start trading with as little as $100, and you’ll get really low spreads.
Take the Benefits of TradingView with Eightcap
Eightcap Review: Assets & Markets
We thought Eightcap has a really good range of instruments you can trade. They have a lot of different options, especially when it comes to buying shares from big and well-known companies in the US, UK, Australia, and Europe. They also offer more chances to trade cryptocurrencies compared to other brokers.
According to it, you can trade in a whole range of assets, including 40 major, minor and exotic forex currency pairs. They provide share CFDs for more than 500 popular companies spread over the US (NASDAQ and NYSE), UK (LSE), Germany (EXTRA), and Australia. Cryptographic aficionados will have more than 250 crypto pairs available for trading, including cross pairs and indices. In addition, you will find access to 10 of the most well-known index CFDs, like the US30, UK100, and SPX500. Commodities like gold, silver, and oil CFDs are also made available for trading purposes to add variety into one’s trading strategies.
Eightcap Broker Review: Spreads & Commissions
Trading Platform
Our testing of Eightcap’s various trading platforms revealed that they are top-notch. Many people use their popular ones, such as MetaTrader 4 and MetaTrader 5. Plus, they have Capitalise.ai software, which is even cooler. It allows you to automate your strategies. The fact that you can choose the platform that best suits your trading style and goals (such as scalping) is a huge plus.
It has some awesome features:
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- You may view the prices and the status of objects across various time intervals, such as one hour or one day.
- You can draw lines and stuff on the charts, plus there are thirty pre-made indicators to assist you comprehend the market.
- To aid in trading, you might make use of trading robots that adhere to specific guidelines. This group is known as Expert Advisors (EAs).
- Diverse kinds of purchase and sale orders can be put up, and they can occur in various ways.
- In the Market Watch section, you may view prices in real-time.
- A single click will take you to the trade button.
- By looking at previous eras, you can learn about trends and patterns.
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- You can view the prices and performance across 21 distinct time intervals, such as 15 minutes or a week
- To help you better understand the market, there are 38 technical indicators at your disposal, and the charts allow you to design more than 40 distinct forms.
- You can program automated trading bots and evaluate their performance with past data.
- There are a total of six distinct order types for buying and selling, and four distinct ways to put these orders into action.
- One option allows for lightning-fast trading, while another, Advanced Market Depth, shows you the volume of buyers and sellers.
- Among other things, you have access to up-to-date financial news and an economic calendar that highlights key dates.
- In the Market Watch area, you can see prices as they happen.
- You have the option to employ “netting” or “hedging” tactics to manage your trades.
- There is a community chat feature where you can talk to other traders.
- Traders can access historical data to see how things were in the past.
Eightcap Review WebTrader
Eightcap Review: Customer Support
Our research and experience with Eightcap found that the broker’s customer service is highly efficient. There are many complaints about Eightcap execution delay, and quite a few glitches occur on their end, which is also a negative user experience. You can contact them 24/5 via phone call, email, and live chat, but their customer support is average.
