Eightcap Review – One of the Best Forex Brokers and Trading Platforms

Editorial Team
eightcap-review-2021

Eight cap is a licensed broker that provides online trading on over 200 CFD instruments such as forex, bonds, cryptocurrencies, and derivatives. The broker offers the Meta Trader (MT4/MT5) trading platforms, which are extremely popular, strong, and user-friendly. They provide traders with low trading costs and tight spreads, as well as outstanding customer care, managed portfolios, and market research. There is a range of fast and simple financing solutions available, with account leveraging ranging from 1:500 to select from.

Our online broker analysis team has discussed some of the most critical things for you to remember when selecting the right broker for your online trading in this thorough Eight cap review.

EIGHTCAP – OVERVIEW:

Eight cap was founded in Melbourne, Australia, in 2009 to deliver outstanding financial services to a multinational clientele. The broker helps customers to exchange forex and CFDs electronically in a new and safe market situation. Eight cap’s platform is present in a range of languages, reflecting the broker’s dedication to a worldwide clientele. On the Meta Trader portals, eight cap provides forex currency pairs, indices, commodities, and cryptocurrencies for trading through online, tablet, and smartphone applications. Scalping, hedging, and the use of expert advisors (EAs) to optimize forex/CFD trading are all permissible trading forms.

Eight cap’s trading databases are based in Equinix data centres, which are very famous because they hold the databases of most large financial institutions. Pricing is collected from a range of top-tier liquidity suppliers. As a result, the broker will deliver raw spreads as low as 0.0 pips and has no dealing desk. This means that trades are conducted efficiently and at the best possible value.

EIGHTCAP – COUNTRIES, COMPLIANCE AND REGULATION:

Eight cap is the trade name of Eight cap Pty Ltd, which has the ABN 73 139 495 944 and is headquartered in Australia. The Australian Securities and Investments Commission (ASIC) regulates Eight cap, and it has an Australian Financial Services License number of 391441. With corporation enrolment number 40377, Eight cap Global Ltd (Vanuatu) is controlled by the Vanuatu Financial Services Commission (VFSC).

Customer investments are cautiously separated from the realtor’s financing and retained in top-rated financial institutions. These investments are held by the National Australia Bank, an AA-rated financial institution with more than 30 years of experience, 1,590 divisions, and a customer base of approximately 12.7 million people. All documents are reviewed by external researchers to ensure adherence. Eight cap has also bought protection to cover itself and its customers from the risks inherent in the brokerage industry.

At this time, eightcap does not accept requests from residents of the listed areas: Afghanistan, Azerbaijan, Belgium, Bosnia and Herzegovina, Myanmar, North Korea, Pakistan, Puerto Rico, Sierra Leone, Somalia, South Sudan, Sierra Leone, South Sudan, Burundi, Canada (British Columbia, Quebec, and Ontario), Congo, Côte d’Ivoire, Ethiopia, Eritrea, Egypt, Gaza Strip, Haiti, Iran, Iraq, Israel, Japan, Lebanon, Libya.

EIGHTCAP – TRADING PLATFORMS:

Many of Eight cap’s customers have access to the industry-standard Meta Trader sites. Meta Trader 4 (MT4) and Meta Trader 5 (MT5) frameworks in all variants are accessible. Meta Quotes Software Corporation, a Russian software firm headquartered in Cyprus, built both frameworks. In 2005, MT4 was announced, followed by MT5 in 2010. Meta Trader is still one of the most common trading platforms used by several digital brokers and traders around the globe. The interface is easy enough for novice traders to use while still offering enough sophisticated capabilities to suit the needs of the most knowledgeable traders.

The following Meta Trader platform variants are available from Eight cap:

  • MT4 Desktop is a Windows-based technology.
  • MT4 for Mac is a trading platform that runs on the Mac operating system.
  • Android software for MT4
  • MT4 for iOS is a smartphone programme that helps you to exchange on the go.
  • Web Trader MT5
  • Windows Desktop Application for MT5
  • MT5 for Mac is software that helps you to trade using your laptop’s keyboard.
  • Android app for MT5
  • The MT5 iOS app is a mobile version of the MT5 website.

The Web Trader is a web-based trading platform that can be reached from Eight cap’s platform. It could be used without downloading or installing any extra applications in most major web browsers on a variety of computers and software applications. Both MT4 and MT5 have smartphone models that function similarly and have user-friendly layouts. Both could be used to keep an eye on the stocks, trade stocks, and perform in-depth technical research for all sectors. 

IOS and Android smartphones apps are available for free download from the appropriate app stores. Those who want to reach their accounts and exchange the markets when on the move would find the smartphone trading applications beneficial.

EIGHTCAP – TRADING TOOLS AND SERVICES:

1. MAM:

Eight cap offers versatile and flexible multi-account management (MAM) applications to satisfy the demands of all customers. The app is compatible with the Meta Trader 4 and Meta Trader 5 trading sites. It can be completely customised to suit the needs of any director. The MAM software system is a server-based solution that is quick. With only one tap, account managers will exchange several accounts at the same time. They may also use a variety of trading techniques, such as the use of expert advisors (EAs). Each customer profile can be personalized in terms of commissions, leverage, performance fees, account currency, and other factors.

2. MARKET NEWS AND ANALYSIS:

Economic activities, industry news and forecasts, and also analyst commentary and estimates are all included in this section of the Eight cap website. Eight cap’s analysts divide the report into three sections: price forecasts, forex reports, and CFD updates.

3. FINANCIAL CALENDAR:

This is a critical method of fundamental research. The calendar displays the dates and times of international economic activities, as well as their expected currency effects. The economic calendar is one of the features available on the MT5 trading site.

EIGHTCAP – TRAINING AND EDUCATION:

The Eight cap website has several training posts. The studies were written by the researchers at Eight cap. They use graphs, photographs, and a variety of illustrations to assist traders in improving their knowledge and skills. Posts on the fundamentals of forex markets can be found in the ‘Fundamentals’ section. It covers forex dealing, stocks, spreads, pips, swap prices, and indexes, among other topics.

The Meta Trader Guides include articles on how to download EAs, open and close trades, and allow one-click trading, among other topics. Articles about how to use different metrics can be found in the Trading Strategy’ tab. Elliot waves, the MACD marker, Bollinger Bands, and other metrics are among them.

EIGHTCAP – ACCOUNTS AND CHARGES:

The minimum starting balance on all trading accounts is $100. Accounts are free to create and do not need any maintenance work. Spreads start at 0 pips, and there is no commission on the transaction. Expert advisors (EAs), hedging, and scalping tactics are all available on all accounts. The following account forms are available with Eight cap:

1. RAW ACCOUNT:

The spreads on this account start at 0.0 pips, but clients must pay a slight commission of $3.5 per lot exchanged. The EURUSD usually has a spread of 0.00-1.0 pips. The profile is designed for high-volume investors and professionals. There are no spread mark-ups with this account since it uses raw interbank trading. 1:500 is the highest leverage.

2. STANDARD ACCOUNT:

This account is for both novice and seasoned traders. The EURUSD currency pair has regular spreads ranging from 0.5 to 1.8 pips. 1:400 is the highest leverage. There are no commissions and the trading costs are included in the spread costs.

3. DEMO ACCOUNT:

For all channels, demo accounts are available. It comes preloaded with virtual currency, enabling traders to try out various trading sites and exercise their techniques without losing their actual cash.

EIGHTCAP – ACCOUNT OPENING:

Opening a trading account with Eight cap is simple and convenient. To open a new brokerage account with Eight cap, go to the platform and press on the ‘Create Account’ button at the top of each page. You must fill out the account category, contact information, funding source, and trade experience fields. Accepting the terms of service comes next, followed by uploading authentication documents. When filling out a broker application, you must read all of the realtor’s requirements, conditions, and policies thoroughly. Move ahead only if you completely comprehend and accept them.

CONCLUSION:

Eight cap is a well-established internet trader with over a decade of experience in online trading. It is a managed brand that strives to provide the best possible service to its consumers. In addition to following the regulators’ instructions, the broker has bought an extra insurance policy in case of any unforeseen circumstances. They have well-known Meta Trader platforms. The MT4 and MT5 platforms are reliable, flexible, and equipped with a variety of trading resources that can support investors of all styles and skill levels. The broker also accepts all trading techniques that make the most of the platforms’ functionality. They also have fantastic customer service staff that is open 24 hours a day, seven days a week.

FREQUENTLY ASKED QUESTIONS:

1. HOW MUCH CAPITAL DO YOU NEED TO TRADE WITH EIGHTCAP?

The minimum deposit is 100 Australian dollars (or its counterpart in other currencies). The smallest possible place size is 0.01 lots.

2. WHAT IS THE MAXIMUM LEVERAGE IN EIGHTCAP?

In all funds, eight cap gives maximum leverage of 1:500. Leveraged trading will maximise potential returns while also increasing the risk of failure.

3. DOES EIGHTCAP OFFERS A DEMO ACCOUNT?

Yes, a demo account can be created from the website’s home page. For 30 days, customers can have unrestricted virtual funds and trading terms that are similar to those of a Live account.

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