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Eightcap Review and Tutorial 2021

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Facts & Figures
Eightcap is a multi-regulated FX & CFD broker offering the MT4 & MT5 platforms. Award winning platform, zero commission, free education and low spreads.
Awards

N/A

Bonus None
Instruments Forex, CFDs, indices, shares, commodities, cryptocurrencies
Demo Account Yes
Min. Deposit £/€/$100
Pay Methods Credit Card, Neteller, POLi, Skrill, UnionPay, Visa
Min. Trade 0.01 lots
Regulated By ASIC, VFSC
MetaTrader 4 Yes
MetaTrader 5 Yes
cTrader No
ECN Account Yes
DMA Account No
Mobile Apps Yes
Auto Trading Yes
Social Trading No
Copy Trading No
Trade Signals No
Islamic Account No
CFD
FTSE Spread 1.2
GBPUSD Spread 1.0 but 0.0 on Raw Account
Oil Spread 1.0
Stocks Spread 1.0
Leverage 1:500
Forex
Trade on 40+ of major, minor & exotic pairs with an award winning platform. Zero commission, free education and low spreads.
GBPUSD Spread 1.0 but 0.0 on Raw Account
EURUSD Spread 1.0 but 0.0 on Raw Account
EURGBP Spread 1.0 but 0.0 on Raw Account
Assets 40
Cryptocurrency
Trade on leading cryptocurrency coins
Spread From 0.0 pips
Coins BTC, LTC, ETH, XRP
Risk Warning – Your capital is at risk

Eightcap is a worldwide CFD and forex broker. Offering both the MT4 and MT5 trading stages, just as two serious records, clients can exchange more than 250 monetary instruments easily. This review can assist you with concluding whether to open a record, covering spreads, leverage in addition to the mobile application and demo account.

Eightcap Company Overview 

Eightcap was established in 2009 and is situated in Melbourne, Australia. The organization is controlled by the Australian Securities and Investment Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). 

Eightcap has quickly developed and has workplaces worldwide with an enormous multilingual customer support group situated in the UK, Bulgaria, China, and Thailand.

Trading Platforms 

MetaTrader 4 

The honour-winning MT4 stage works with internet trading in forex, lists, and wares. With its high-level interface, computerized trading capacities, and far-reaching graphing bundle, it’s a tremendous all-around stage. 

Highlights include: 

  • Nine-time periods, 30 underlying markers, 24 graphical items 
  • For nothing trading robot and admittance to Expert Advisors 
  • Four kinds of forthcoming orders, three request execution types 
  • Constant statements in Market Watch 
  • A single tick trading 
  • Recorded information

MT4 is available to download on Windows, macOS, and Linux PCs.

MetaTrader 5 

MT5 is a high-level stage offering to trade in forex, lists, offers, wares, and cryptographic forms of money. Clients profit with: 

  • 21-time spans, 38 specialized markers, 44 graphical articles 
  • For nothing trading robot and admittance to Expert Advisors 
  • Six kinds of forthcoming orders, four request execution types 
  • A single tick trading and Advanced Market Depth 
  • Monetary news and financial schedule 
  • Constant statements in Market Watch 
  • Mesh and supporting 
  • Local area visit 
  • Chronicled information

MT5 is available to download on Windows, macOS, and Linux PCs.

WebTrader 

Eightcap additionally offers the Web Trader rendition of MT5. The web-open stage can be opened effectively from the broker’s site and offers a similar scope of highlights as the work area download. It’s a fast and bother-free approach to get associated with the business sectors.

Capitalise.ai 

Eightcap has dispatched an intriguing mechanized trading apparatus that allows customers to program guidelines utilizing plain English, for instance, purchase 1,000 GBP/USD on Tuesday at 15:30 EST. With a smooth dashboard and helped policies, it’s never been simpler to fabricate mechanized trading systems for amateurs. With no coding abilities required, dealers can foster basic and complex calculations for nothing. 

Capitalise.ai additionally offers a broad rundown of pre-customized techniques that customers can test hazard-free or change to their inclinations before pushing live. Look at the video underneath for additional subtleties.

Assets 

Eightcap clients can trade on:

  • Currencies – Trade 40 major, minor, and exotic forex pairs
  • Share CFDs – Trade on 250 US and Australia’s most famous companies, including Westpac Banking Corp & Woolworths.
  • Index CFDs – Trade 10 of the most popular indices, including the US30, UK100, and SPX500
  • Cryptocurrencies – Trade on Bitcoin, Ethereum, Litecoin, and Ripple
  • Commodities – Trade gold, silver and oil CFDs

See Eightcap’s Product Disclosure Statement (PDS) for additional subtleties.

Spreads & Commissions 

Spreads are variable, beginning at 0 pip for significant forex sets (Raw Account) and 0.5 on effective lists, like the SPX500. 

Spreads for gold and silver beginning at 1.0 pips and 0.5 pips, individually, while oil spreads are around 1.0 pip. 

Kindly remember that digital currencies are unpredictable instruments. Now and then, the spread on BTC is 20 pips, or even less. As of late, it arrived at 30 pips. 

During exchange hours with amazingly high instability, the spreads will generally get higher or during less fluid daytime spans (as the turn over to the new day). 

Commissions are charged at $3.50 per standard parcel on the Raw record, and trade rates will apply for the time being forex exchanges.

Leverage 

The most extreme leverage at Eightcap Pty Ltd is 1:30. The most extreme leverage for customers trading with Eightcap Global Ltd is 1:500. 

Subtleties of the edge call cycle can be found on the broker’s site.

Mobile App 

Eightcap offers a mobile application for both the MT4 and MT5 stages, which are accessible for iOS and Android gadgets. The application provides similar overall highlights as the work area stage, with the additional advantage of every minute of everyday access from any place. When you have your MT4 or MT5 login certifications, basically head to your App Store or Play Store to download the application.

Payment Methods 

Deposits 

Eightcap offers a few quick installment options in 7 base monetary standards, all executed through the Client Portal:

  • Bank Wire – 1 – 3 business days. Check fees with the bank
  • Credit/debit card – Instant deposit. No fee
  • China UnionPay – Instant deposit. No fee
  • Skrill – 1 – 2 business days. No fee
  • Neteller – Instant deposit. No fee
  • BPAY – 1- 2 business days. No fee
  • Poli – Instant deposit. No fee

Withdrawals 

In the wake of finishing a solicitation structure through the Client Portal, clients can pull out benefits free of charge, utilizing the entirety of the techniques above. The broker plans to handle withdrawals within 24 business hours. Clearing times ordinarily take 2 – 5 workdays.

Demo Account 

Eightcap offers a fair demo account that can be opened from the broker’s site. Clients approach limitless virtual assets and similar trading conditions as a real cash account, including a similar value feed. 

Note that demo accounts keep going for 30 days, of course. Nonetheless, this can be reached out upon demand.

Bonuses & Promotions 

Eightcap doesn’t presently offer any store rewards or advancements. In any case, watch out for the broker’s site on the off chance that new arrangements are made accessible. Ensure you check additional agreements before you begin trading.

Regulation 

To ensure customer interests, the organization is freely directed across two elements: Eightcap Pty Ltd is controlled by the Australian Securities and Investment Commission (ASIC). At the same time, the Vanuatu Financial Services Commission manages Eightcap Global Ltd (Vanuatu) (VFSC). Besides, Eightcap is an Australian Financial Services Licensee (AFSL). Customer reserves are likewise isolated and held at Tier 1 banks, according to the Corporations Act. 

We assess that the broker isn’t a scam and their online administrations are real.

Additional Features 

Eightcap’s central goal is to fabricate a permanent place to stay for MT4 and MT5 brokers. The broker offers an outstanding training suite to help both new and experienced dealers. 

Remembered for this are ordinary market refreshes, a trading week ahead, CFD and Forex experiences, MetaTrader guides and trading technique direction. 

Trading Tools: Eightcap clients will likewise have the ability to computerize their exchanges without any coding information. With the utilization of capitalise.ai, Eightcap clients will approach computerization and insightful devices, including backtesting, circle methodologies, shrewd warnings, and substantially more.

Account Types 

Eightcap offers two record types: 

  • Standard – suggested for beginners 
  • Raw – recommended for experienced traders 

Both record types require a base store of A$100, accompany a base exchange size of 0.01, and offer the most extreme leverage of 1:30 for Australian customers and 1:500 for non-Australian customers. 

The fundamental distinction between the two records is that the Standard record accompanies zero commissions, where the Raw record charge is A$3.50 per standard part. Likewise, the Standard record offers five base monetary forms versus the Raw’s 4.

Benefits 

There are a few valid justifications to exchange with Eightcap: 

  • Capitalise.AI automated trading arrangement 
  • ASIC and VFSC directed 
  • MT4 and MT5 accessible 
  • Great client reviews 
  • Quick client assistance 
  • Free withdrawals

Drawbacks 

Inconveniences of trading with Eightcap include: 

  • Restricted time demo account (Though this can be stretched out upon demand) 
  • No rewards or advancements 
  • No parallel options

Trading Hours 

Clients can exchange forex 24 hours per day, seven days every week. In any case, worldwide unfamiliar trade trading hours fluctuate by time region. In light of AEST, Sydney opens at 7 am and shuts down at 4 pm, Tokyo opens at 9 am and shuts down at 6 pm, London opens at 5 pm and shuts down at 2 am, and New York opens at 10 pm and shuts down at 7 am. 

Opening times additionally change across different business sectors with subtleties accessible on the broker’s site.

Customer Support

 Eightcap’s 24/5 multilingual support team can be contacted via:

  • Telephone number – +61 3 8373 4800
  • E-mail – customerservice@eightcap.com
  • Live chat – the chat logo is located in the bottom right-hand corner of the website

Keep up to date with the latest news on Eightcap’s social media pages:

  • Facebook
  • Instagram
  • YouTube
  • LinkedIn

The broker’s headquarters office address is Level 6, 360 Collins Street, Melbourne, VIC 3000 Australia.

Trader Security 

Information trades are scrambled between the stage and the customer workers, utilizing industry-standard 128-digit Secure Sockets Layer (SSL) encryption. Worker verification is likewise needed after getting to the MetaTrader stages. 

Eightcap is completely agreeable with the Privacy Act 1988, the Australian Privacy Principles (APPs), and the General Data Protection Regulation (GDPR) to guarantee customer information insurance.

Eightcap Verdict 

Working for longer than ten years and offering both the honour-winning MT4 and MT5 stages, Eightcap is a regarded CFD and forex broker. With their cutthroat spreads, quick client service and demo account offering, novices and specialists can start trading quickly.

Accepted Countries 

EightCap can’t acknowledge traders from specific wards, including the US, New Zealand and Japan.

Alternatives to Eightcap

On the off chance that you are searching for options in contrast to Eightcap, we have aggregated a rundown of the best five brokers that are like Eightcap underneath. This rundown of brokers like Eightcap is arranged by closeness and incorporates organizations acknowledging traders from your area.

  1. FP Markets – FP Markets is a multi-asset broker offering a choice of trading platforms.
  2. RoboForex – RoboForex is a multi-asset online broker offering powerful trading aides.
  3. GO Markets – GO Markets is an ASIC-regulated FX & CFD broker.
  4. ThinkMarkets – ThinkMarkets is multi-regulated forex and CFD broker
  5. FXPrimus – Trade the markets with MT4 trading tools alongside CySEC regulation.

FAQ 

What amount of capital do I have to exchange with Eightcap? 

The base store sum is 100 AUD or cash same. The base position size accessible is 0.01 parts. 

What is the most significant leverage in Eightcap? 

Eightcap offers the most extreme leverage of 1:500 across the two records. (1:30 in controlled business sectors). Leveraged trading can expand potential returns, yet additionally likely misfortunes. 

Does Eightcap offer a demo account? 

Indeed, a demo record can be set up from the main page on the site. Clients will approach limitless virtual assets for 30 days and will appreciate indistinguishable trading conditions to a Live record. 

How would I open a Live record with Eightcap? 

Select ‘Make Account’ from the upper right-hand corner of the broker’s site to enlist. You will be needed to round out a short structure before going through 5 extra strides to customize your record and confirm your character. 

What would I be able to exchange on Eightcap? 

Clients can exchange forex, files, and items on the MT4 stage and forex, records, wares, shares, and cryptos on the MT5 stage.

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