|Risk Management Index
Eightcap is an Australian based forex broker offering their service via MT4, MT5 and TradingView. You can signup for two Eightcap accounts and trade from 1000+ asset classes. This Eightcap review can help you decide if you want to use Eightcap. This comprehensive 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.
Let's find out why Eightcap is special. They have some important things that make them different and good. First, they have prices for trading that are really good compared to others. Second, they have a lot of different things you can trade, like money and stocks. Lastly, they are really good at helping you if you have questions or problems.
Whether you've been doing trading for a long time or you're just starting, Eightcap has everything you need to do well in the forex market.
Eightcap Broker Overview
Back in 2009, in Melbourne, Australia, Eightcap started with a big goal: to give really good brokerage services to its customers. This goal has stayed important to them all this time and has helped them grow a lot. They're known everywhere in the world now and offer over 800 instruments to trade including foreign currency and stocks. This shows how much they want to make trading really good and special.
They've won many awards that show how good they are, like being the Best CFD Broker in Australia in 2022. This means they're great at giving people ways to trade and tools to learn about trading. They've also been called the Most Innovative Affiliate Program and the Best Crypto Broker by different organizations. They've even won awards for their customer service and support.
Eightcap wants trader to have the best platforms to use, and one of these is called TradingView. This shows how they're working hard to make trading even better. They've been awarded for being the best broker with platforms like MT4 and MT5, which traders worldwide use.
Eightcap is always trying to make trading better, and they're really good at it. This makes them a standout company in the financial world.
Eightcap Review: Quick Summary
|ASIC, FCA, CySEC, SCB
|MetaTrader 4, MetaTrader 5 and TradingView
|Forex, Commodities, Indices, Shares and Cryptos
|💳 Minimum Deposit
|💰 Deposit Methods
|Credit/debit card, Cryptocurrencies, China UnionPay, PayRetailers, Bank Wire, Worldpay, Fasapay, Neteller, PayPal, BPAY, Skrill, POLi
|📱 Mobile Trading
|🌍 Web Trading
|💵Minimum Trade Size
|🎢 Maximum Leverage
|Up to 1:500
|☎ Customer Support
The broker has successfully established a robust presence across multiple jurisdictions, underscoring its commitment to operating under the highest standards of transparency, security, and accountability. EIghtcap has regulatory membership from four different jurisdiction ASIC, CySEC, FCA and SCB.
In Australia, Eightcap Pty Ltd has a special 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. Eightcap have an office at The Rialto, South Tower, Level 35/525 Collins St, Melbourne VIC 3000, Australia, which shows they want to be open and honest.
In the United Kingdom, Eightcap Group Ltd is part of Eightcap. They follow the rules from the Financial Conduct Authority (FCA), which is like a rule-maker for financial things in the UK. They have a registration number (FRN 921296) that shows they do things the right way according to FCA. Their main office is at 40 Gracechurch Street, London, EC3V 0BT.
In Cyprus, there's a part of Eightcap called Eightcap EU Ltd. They follow rules from the Cyprus Securities and Exchange Commission (CySEC), which is in charge of financial rules in Cyprus. They have a license number 246/14 that proves they follow CySEC's rules. Their office is at Anexartisias 187, 1st floor, 3040 Limassol, Cyprus. This shows they want to be clear and responsible in Cyprus.
In The Bahamas, Eightcap follows rules from The Securities Commission of The Bahamas (SCB), which makes sure companies follow the regulation in the country. They have an office at 208 Church Street, Sandyport, Nassau, The Bahamas. They use the name SIA-F220, which means they follow SCB's rules.
All these regulatory bodies shows that Eightcap wants to do things correctly and responsibly in different parts of the world.
Eightcap Review: Account Types
Eightcap mainly offer two types of account Raw and Standard account. Additionally, they also offer TradingView account. Howeevr, all these accounts have different features. These also feature Islamic account. Let’s get to know each account type.
The Raw account is great for people who mainly trade forex CFDs or those who have more experience in trading. You can trade with really small price differences, starting from 0.0 pips. You need at least $100 to start, and you can make trades even if they're very small (0.01, depending on what you're trading). This account also works well with EAs, which are tools that can help you trade automatically.
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 of these accounts ask for a minimum deposit of $100, which is a reasonable amount that most traders can afford. It's even lower compared to other options like IC Markets, which asks for $200. Both accounts let you start with a small trade size of 0.01. Also, they give Australian clients a maximum leverage of 1:30, and for non-Australian clients, it's 1:500.
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. In return, you get smaller price differences with this account.
Both accounts are available in seven different currencies like AUD, USD, EUR, GBP, NZD, CAD, and SGD. This is good news because it makes it easier for traders from different countries, like Canada, to handle their account and trades using their own currency.
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
Trading with Eightcap is made even more seamless and insightful through the integration with TradingView, an unique charting platform that empowers traders with diverse tools and resources. With TradingView, you have the freedom to chart your course with 15+ customizable chart types, such as Kagi, Renko, and Point & Figure. Utilize up to 8 charts per tab, ensuring synchronized symbols and time intervals, and leverage an array of 90+ smart drawing tools to enhance your analysis.
TradingView stands out for its remarkable flexibility, allowing you to seamlessly trade whether you're at home or on the move. Simply connect your Eightcap account to the TradingView mobile app on iOS or Android, enabling you to respond to market changes effortlessly with just a few taps on your mobile device.
Enhance your analytical prowess by accessing an extensive array of top-notch technical indicators and widely used pre-built indicators rooted in industry-standard formulas. With over 100,000 community-built indicators available, you can choose from a diverse pool of tools to refine your trading strategy. TradingView also offers the unique advantage of creating your own indicators using their proprietary Pine-Script language.
Being part of the world's largest trading community is another perk. Engage with fellow CFD traders, discover new trading ideas, and discuss strategies within a supportive community environment. Stay in the loop with TradingView's alert system and never miss a market shift. Configure alerts across different categories such as price levels, indicators, and custom indicators. Create a minimum of 10 unique alert conditions within each category to ensure you're always informed about potential opportunities in the market.
To start trading with Eightcap directly from TradingView, follow three simple steps. Begin by creating an account with Eightcap; opt for TradingView as your platform during the application process. Subsequently, launch a chart on TradingView and navigate to the 'Trading Panel' tab. Conclude the process by choosing Eightcap from the provided list and adhering to the instructions to link your fresh Eightcap account details. Now, relish the ease of trading directly from your Eightcap account through TradingView.
In addition to the TradingView integration, Eightcap provides comprehensive resources to enhance your trading journey. Explore Eightcap Labs to bridge the gap between theory and practice, developing your skills to become a more proficient trader. Find inspiration and expert insights with Trade Zone, where weekly trade ideas, market forecasts, and mid-week commentary webinars are shared. Take the first step by signing up, creating an account, and initiating your trading journey with Eightcap. Benefit from low spreads and gain access to a diverse range of over 800 financial instruments. Start trading with ease and explore the opportunities that Eightcap has to offer. Elevate your trading experience with the powerful combination of Eightcap and TradingView.
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.
But there are some not-so-great things too. You can't directly buy and sell real stocks with them – you can only do something called CFDs on shares. And they don't have a big variety of commodities, so if you want to trade things like gold or oil, it might not be the best choice for you.
You can trade:
- Currencies: 40 major, minor and exotic forex pairs.
- Share CFDs: Trade 500+ US (NASDAQ and NYSE), UK (LSE), German (EXTRA) and Australia’s most popular companies.
- Cryptocurrency CFDs: 250 + crypto pairs with cross pairs and indices.
- Index CFDs: Trade 10 of the most popular indices, including the US30, UK100, and SPX500.
- Commodities: Trade gold, silver and oil CFDs.
Eightcap Broker Review: Spreads & Commissions
When we tried Eightcap broker, we noticed that the differences between buying and selling prices (spreads) were really small and could change. For important currency pairs like Raw Account, the Eightcap spread could start at 0 pips. For big stock market numbers like SPX500, it could start at 0.4 points. If you're trading gold, the spread might start at 0.12 USD, and for oil, it could be 0.03 USD.
The costs of trading cryptocurrencies can be different. The spread could be as low as 0 USD for Bitcoin Cash, while for Bitcoin, it might go up to 31.2 USD. When it comes to shares, the spread is about 0.02 USD for each share you buy or sell. For a full trade (buy and sell), it's around 4 USD per share.
Keep in mind that sometimes, especially when the market is moving a lot, the spreads might get wider. This also happens during times when not many people are trading.
On the Raw account, they ask for a fee of 3.50 USD for each full trade you make. This fee is quite competitive.
If you're trading forex overnight (keeping a trade open while you sleep), there might be some extra costs called swap rates.
8Cap Reviews: Deposit and Withdrawals
Eightcap broker offer you many ways to put money into your account. Just pick the way you like best, say how much you want to add, and then wait for them to confirm that they got the money. The funding methods include Credit/debit card, Cryptocurrencies, China UnionPay, PayRetailers, Bank Wire, Worldpay, Fasapay, Neteller, PayPal, BPAY, Skrill and POLi.
Eightcap doesn’t charge any extra fees when you put money into your account or withdraw, but remember that the method you use might charge you for making the transaction or for doing it across different countries.
Whenever you want to take money out, Eightcap’s Finance team will check it first, and this could take 1-2 business days. Once they are done on their side, the money will come to you based on the time they said it would take.
When the broker say "instant," it means the transaction happens super quickly, in just a few seconds, and it's done automatically without people in their financial department needing to do anything special.
Remember, Eightcap broker never charge you any extra fees for adding money. If you're sending money from a bank or card that's not in Australia, there might be extra fees from those banks or conversion fees. If there are, you'll have to pay them.
Please make sure that the name on the bank account or card matches the name on your Eightcap trading account. If it's a shared account, that's okay as long as one of the names matches our records. Eightcap can't take money from someone else for you, and they don’t accept cash payments directly.
You can add money to your account anytime, day or night. If a deposit doesn't happen right away, Eightcap try to finish it within one day of business hours. If there are problems with the payment systems, and it takes longer than expected, they are not responsible for those delays.
If you're moving money between your accounts with the same name, it happens instantly. They might tell you about some rules on using certain payment systems if you're in certain countries.
When you take money out using a Crypto wallet, the wallet address you give to them should match the one you used when you put money in. If not, they will need more proof that you are the owner of that account, like a short video of your face and a picture of your ID or Passport, along with the new Crypto wallet address.
Eightcap Trading Platform
When tested, we were really impressed by the different trading platforms that Eightcap offers. They have some of the most well-known ones like MetaTrader 4 and MetaTrader 5, which many people use. But what's even cooler is that they also have Capitalise.ai software. With it, you can make your strategies automatic. This is great because it lets you pick the platform that fits how you trade and what you want to do, like scalping.
The Eightcap MT4 platform is really good for trading online. You can invest in instruments like forex, indices, and commodities (like gold or oil). It's easy to use, and you can make trades automatically. The charts it shows are super helpful. We think this platform is awesome for everyone, especially if you're just starting out.
Some cool things it has:
- You can see the prices and how things are going over different time periods (like 1 hour or 1 day).
- There are 30 ready-made indicators to help you understand the market, and you can draw lines and stuff on the charts.
- You can use trading robots that follow certain rules to help you trade. They're called Expert Advisors (EAs).
- You can set up different types of orders to buy or sell, and they can happen in different ways.
- You can see real-time prices in the Market Watch section.
- There's a button for trading with just one click.
- You can see how things were in the past to understand patterns and trends.
You can download MT4 on computers with Windows, macOS, and Linux. It's a really good choice for everyone, especially if you're new to trading.
Eightcap MetaTrader 5
MT5 Eightcap platform is a step up from MT4 and lets you do even more. You can trade forex, indices, shares, commodities and cryptocurrencies. It's like a supercharged version of MT4. Here's some of the cool stuff it has:
- You can look at the prices and how things are doing over 21 different time periods (like 15 minutes or a week).
- There are 38 technical indicators you can use to understand the market better, and you can draw over 40 different shapes on the charts.
- You can set up robots to trade for you, and you can test their strategies using historical data.
- You can use 6 different types of orders to buy or sell, and there are 4 ways these orders can be executed.
- There's a button for really fast trading and another feature called Advanced Market Depth that helps you see how many people are buying and selling.
- You can check the latest financial news and see an economic calendar that tells you about important events.
- You can see real-time prices in the Market Watch section.
- You can choose how you want to manage your trades – you can have "netting" or "hedging" strategies.
- You can chat with other traders in the community.
- And of course, there's historical data to look at how things were before.
MT5 is great if you want to do even more with your trading. It covers more types of assets and gives you more tools to use.
Eightcap also provide MT5’s WebTrader version. You don't need to download anything – you can use it directly from their website. It has all the same features as the one you'd download to your computer. It's a fast and simple way to start trading and connect with the financial markets.
At Eightcap, there's a really cool tool for trading automatically, named Capatilise.ai. It lets you tell the system what to do using normal words, like "buy $1,000 GBP/USD on Tuesday at 15:30 EST."
The dashboard looks great, and it helps you make automated trading plans even if you're just starting out. You don't need to know any special coding – you can create simple or complex plans without paying anything extra.
We also really liked that Capitalise.ai has a bunch of ready-made strategies. You can test these without any risk, or you can adjust them to fit what you want before you start using them for real.
Eightcap offers an unique tool, FlashTrader, that makes trading easier. It adds stop-loss and profit-target levels automatically to every trade you make. This means you can focus more on your trading strategy. Instead of cutting your profits short, FlashTrader can help you take profit on half of your trade, move the stop-loss to where you started, and aim for a bigger second profit level. This tool also helps you manage your risk, make your trade sizes equal, and go for multiple profit levels. And the best part is, you can do all this with just one click using FlashTrader.
You can receive trade ideas every day in real-time using special tools that only this company has. This tool help you understand the markets better. They show you how people are feeling about the market and help you figure out how risky it might be. You can also see which way the market is going and when it might change. If you're interested in cryptocurrencies, you can keep an eye on their prices and trends with lots of special indicators made just for them. It's like having a helpful guide to make better trading decisions.
Eightcap Review: Customer Support
We discovered that the customer service team is easy to reach and they reply quickly. When we tried the live chat, we talked to an agent in less than a minute, which is faster than most other forex and CFD brokers. You can contact them 24/5 via phone call, email and live chat.
Eightcap has been around for more than ten years, and they provide both the award-winning MT4 and MT5 trading platforms. They're a respected broker for CFDs and forex trading. We were especially impressed by their good prices, Eightcap trading hours, helpful customer support, and the fact that they offer a free Eightcap demo account MT5. This means both new and experienced traders can start trading without any problems.