Eightcap — Forex Broker Rating and Review 2020

EightcapEightcap website
Status
Regulation ASIC, VFSC
Trading software MetaTrader4/5
Headquartered Level 6, 360 Collins Street, Melbourne, VIC 3000 Australia

Eightcap is a reputable regulated broker specialising in FX and CFD trading. The company gives its clients access to over 200 financial instruments including Forex, Indices, Commodities, Shares and Cryptocurrency, all available on the intuitive and award-winning MT4 and MT5 platforms.

It provides its clients with a safe and reliable trading environment which is paired with competitive spreads and ‘instant’ execution. Established in 2009, Eightcap has one clear mission - to provide an exceptional financial service to its clients. This fundamental principle remains at the core of its business.  The brand is expanding and currently has offices in Melbourne, Bulgaria and London. 

Eightcap’s Trading Platforms 


Eightcap provides its clients with the ability to trade on 200+ financial instruments on the award-winning MT4 and MT5 platforms. Clients are encouraged to sign up for the free demo account to experience the seamless and intuitive trading platforms first hand.

Features of the MetaTrader 4 trading platform:

  • Identify market trends and determine your entry and exit points using advanced charting tools; 
  • 9 time-frames, 30 built-in indicators and 24 graphic objects;
  • Automated analysis and trading execution by downloading a free-of-charge robot or purchase on from the MetaTrader market;
  • Gain access to spreads starting from 0.0pips - this is subject to the Raw account;
  • One-click trading direct from price charts to the market or have the choice of using pending, stop orders and trailing stops. 

Features of the Meta Trader 5 trading platform: 

  • Take a look at what drives the market in more detail with the Financial News and Economic Calendar features allowing you to respond to market movements instantly. 
  • Use the web browser version of the MetaTrader 5 platform to start trading, no download is required and is also accessible from any Windows, MacOS and Linux powered devices. 
  • Use robots to trade just like on MetaTrader 4 and have the ability to access the MLQ5 Wizard to create your very own robot from easy to use ready-made blocks. If you are an experienced trader then you also have the option to develop one in the MLQ5 IDE development environment. 
  • The MT5 platform comes with the Market Depth feature, netting or hedging modes, and 1 click trading directly from the charts. 

Account Types 


With Eightcap you can open a live trading account in a matter of minutes. Alternatively, you can also open a free demo trading account which allows you to open positions with $50,000 in virtual funds while experiencing real market conditions and live pricing features. 

There are two account types clients can choose from which are the Standard and Raw accounts. 

Clients need as little as $100 to open a live trading account with Eightcap. Spreads from 0.0 pips are available with the Raw Account but commission will be charged at $3.5 per standard lot traded. Both accounts allow the client to scalp and offer leverage of 500:1. 

Financial Assets Available with Eightcap 


It is always important to look at the variety of financial instruments available for trading at brokerages. Eightcap offers a comprehensive choice of financial instruments to trade including CFD’s in FX, Indices, Commodities, Shares and Cryptocurrency. 

  • Eightcap has a variety of major, minor and exotic currency pairs, this includes, EUR/USD, AUD/USD, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, AUD/CAD, AUD/CHF, AUD/JPY, AUDNZD, CAD/CHF, CAD/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/NZD, GBP/AUD, GBP/CAD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/NZD, NZD/CAD, NZD/CHF, NZD/JPY and USD/SGD.
  • Eightcap also offers the following commodities, Gold, Silver, WTI Crude Oil and Brent Crude Oil. As well as these indices, AUS200, UK100, GER30, JPN225, SPX500, FRA40, EUSTX50 and US30. 
  • For those who like to trade cryptocurrency, Eightcap offers the following, Bitcoin, Ethereum, Litecoin, Ripple. Clients are also able to trade on over 150 Australian companies through Shares CFDs. 

Deposit and Withdrawals


Eightcap offers various payment funding and withdrawal options allowing clients to deposit and take money out of their trading accounts quickly. 

Funding is easy with Eightcap and all transactions are secure and instantaneous through its encrypted Client Portal payment gateway. Clients with this broker can open and deposit funds into their trading accounts in the following base currencies: AUD, USD, GBP, EUR, NZD, CAD, and SGD. Eightcap’s current funding methods include Credit/Debit Card, POLi Payment, Bank Wire Transfer, BPAY, China UnionPay, Skrill and Neteller. 

Withdrawals are effortless with Eightcap and clients can request to withdraw funds from their trading account by submitting an online form through the Client Portal area. The company will then process the withdrawal request within 24 business hours. It is important to note that clients can only withdraw funds from this broker once they have uploaded their trading documents and had their trading account approved. Eightcap’s withdrawal methods include Credit/Debit Card, Bank Wire Transfer, Skrill Account and Neteller. 

License & Regulation 


Eightcap’s services are offered from two different legal entities:

  • ‘Eightcap’ is a brand of Eightcap Pty Ltd (ABN 73 139 495 944) regulated by the Australian Securities and Investment Commission (AFSL 391441)
  • Eightcap Global Ltd (Vanuatu) regulated by the Vanuatu Financial Services Commission company registration no. 40377. 

Sponsorship 


Eightcap is an official supplier of Scuderia Ferrari as both share similar goals and core values. The company has partnered with the Scuderia Ferrari team for the 2019 & 2020 Formula 1® season. Eightcap is seen to be featured on the front wings of the single-seater for both seasons. 

Eightcap trading information

WWW https://www.eightcap.com/
Address Level 6, 360 Collins Street, Melbourne, VIC 3000 Australia
Headquarters Melbourne
Free phone +61 3 8373 4800
24 hour support
Partnership programs
Mobile trading
Automated trading
Demo account
Swaps
24 hour trading
Hedging
Digits after the dot in quotes 5
Minimum position size 100 from the base currency
Pip spread on majors from 0.0 on Raw accounts
Spread Type variable
Maximum Leverage 500
ECN, $ 100
STP, $ 100
Standard account, $ 100
Micro account, $ 100
Popular payment methods Credit/Debit Card, POLi Payment, Bank Wire, BPAY, China UnionPay (uPOP), Skrill, Neteller
Account currencies AUD, USD, EUR, GBP, NZD
Available assets Forex, Commodities, Indices, Shares and Cryptocurrencies
Languages English, German, Italian, French, Spanish, Chinese, Korean, Thai, Indonesian
Platforms MetaTrader4/5
Broker type ECN, STP
Regulation ASIC, VFSC
Foundation 2009
Bitcoin Forex Brokers

I switched to EightCap after trading with another Australian broker who I won't bad mouth here. EightCap have been a refreshing change for me. They actually want your business and provide genuine care with their customer service. I had a trade stopped out over a news event (my mistake) that I wasn't happy about but the staff were helpful to explain all the market dynamics and how it occurred. Most importantly they gave me a lot of their time to explain. I would recommend.

G Kohl   14 July, 2020  

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