EIGHTCAP

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About company:

Eightcap is a Forex broker offering trading over 25 currency pairs, indices and commodities on the MetaTrader 4 terminal.

About company. Fund security

Eightcap was founded in 2009 in Australia. The firm underwent significant changes in 2014-2015 both in management and structure. In addition to the main office in Melbourne, additional offices were opened in London and Shanghai.

Eightcap ECN / STP is a broker owned by EightCap Pty Ltd. and is regulated by the Australian Securities and Investments Commission (ASIC).

ASICs require licensed financial service providers to meet strict requirements of at least $ 1 million and comply with various internal accounting and auditing procedures. In addition, regulated entities are required to report regularly to the ASIC.

However, the Australian regulator does not provide any compensation to investors if the licensed company becomes insolvent.

Trading conditions

Eightcap offers traders several different trading accounts. The only difference between Raw and Standard accounts is the size of the spread: for the first account it starts from 0 pips, for the second - from 1 pip. Average spreads are 1.2 pips on EUR / USD.

The minimum amount required to open any account is $ 100. The investment portfolio includes 40 products to choose from: Forex, CFDs, gold, silver and oil.

Leverage up to 1: 500 on both accounts. Hedging and scalping, trading with advisors are allowed.

The offered MAMM / PAMM allows traders to have multiple accounts at the same time and can place trades with each.

Demo account available.

Trading platforms

EightCap supports the most widely used Forex platform MetaTrader 4 (MT4). It is available for PC, Mac and mobile devices.

MT4 provides all the tools and resources a trader needs: a range of technical indicators, an expanded set of charts, a wide range of experts (advisors) and an environment for testing them.

Moreover, the broker, in partnership with Myfxbook, offers AutoTrade, a platform that allows you to track, compare, analyze trades, share your trading activities and, most importantly, copy trades from more successful traders.

To use the AutoTrade service, the minimum deposit must be at least $ 1,000.

Education

Eightcap offers many different training materials. The Forex trading guide covers topics such as "What is Forex?", "Margin Trading" and much more. Company representatives do not conduct webinars and seminars.

Unfortunately, the broker does not offer news and analytical materials. There is also no economic calendar or calculator.

Support service

Traders can access Eightcap support by phone from any of three offices in Melbourne, Shanghai and London. The chat is available 24/5. Clients can always send an email.

The Eightcap website is available in English and Chinese.

Ways of payment

Customers can use a number of methods to fund their merchant accounts, including wire transfers, credit / debit cards, Skrill, Poli, Bpay, and Moneybookers.

Withdrawals are made using the same methods as deposits. Credit card withdrawals may take 3 to 20 business days from the date of the request.

Trading is available in the following currencies: USA, AUD, EUR or GBP.

Pros:

regulated broker; MT4; competitive spreads.

Minuses:

there are no analytical and news materials.

FAQ - BROKER QUESTIONS EIGHTCAP

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Can the broker EIGHTCAP be considered honest?
Before any trading and choosing a broker, you should always read reviews on our portal, as well as on other resources. Brokers that are honest have a rating above 3.8. There is also always a risk of losing investments when trading CFDs. Be careful and read the risk warning on the broker's website. EIGHTCAP received a rating of 1 out of 5 on our resource.