Eightcap Guide – Read our In-Depth Eightcap Review
This Eightcap review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this Eightcap review does not apply to US users.
If you are a new entrant in the world of trading and broker, so many details will be confusing for you. Getting into the area of trading demands expert analyzing skills and comprehensive knowledge. You will acquire proficient at all of the concepts of broker as you continue trading. For starters, you need to choose the ideal agent who will be clear with you constantly.
In this fast-paced world of stock markets and trading, you will need advice to make correct decisions. A professionally lead investment program will generate hefty returns. Eightcap is one such platform which will take you along with your investment into great heights. It is important to know all about Eightcap before you trust them with your cash.
Our full Eightcap Review covers all you will need to learn about trading with Eightcap. A good broker can multiply your first investments and provide you positive profits. If you would like to make profits, you must trade with a brokerage service that contrasts with your investment goals.
There's absolutely no sure-fire way to ensure profits; thus, you must carefully assess your agent before you select them. It's a frequent misconception that all agents are exactly the same, but that's not correct. Wrong judgment, initially, can set your investments at risk.
Eightcap is a broker which has found its way successfully to the brokerage world. In this review, we have tried to collate some of the vital aspects of Eightcap. This review will allow you to understand whether Eightcap is a good fit for your investments or not. We have attempted to breakdown all the qualities and fees for your convenience.
Eightcap Review, Table Of Contents
- Who are Eightcap?
- Benefits Of Trading With Eightcap
- Everything you should know about trading with Eightcap
- Is Eightcap Safe To Trade With?
- Pro's & Con's Of Trading With Eightcap?
- Compare Brokers Similar To Eightcap
- Regulation And Licencing In More Detail
- Eightcap Awards
- Minimum Deposit Required For A Live Account With Eightcap
- Eightcap Commission And Fees Explained
- Compare broker fees against Eightcap
- Eightcap Withdrawal Fees Explained
- Eightcap Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With Eightcap?
- Alternatives To Eightcap
- Frequently Asked Questions About Eightcap
Who are Eightcap?
Eightcap is a foreign exchange broker headquartered in Australia and provides a range of instruments for online trading. Since its inception in 2015, Eightcap has emerged as a leading player in the industry of online brokerage. Eightcap has a highly aggressive and full-featured trading website that is focused on currency, indices, metals, stocks and commodities.
Over the past 6 years, Eightcap has grown into one of the leading online brokers.
After launching in 2015, their customer base has become as big as 10,000+ clients.
Eightcap is the favorite of many dealers.. Our Eightcap review discovered that they're an superb choice for automated trading options. It is best suited for investors who are looking for an assortment of assets. Social and automated trading solutions are the heart at Eightcap.
Technology plays a significant role at Eightcap. Eightcap features trading on MT4, Tablet & Mobile apps. Eightcap is honest, transparent, and a well-regulated broker by the Australian Securities and Investment Commission (ASIC). Their outstanding variety of resources will be beneficial for the majority of traders. Third-party partnerships also provide in-house research.
The educational section at Eightcap is quite enlightening for new dealers since it allows them to get a closer look at the financial markets. Eightcap caters to all sorts of traders and are a must-have broker for any well-diversified method of trading.
If you feel that Eightcap is not right for you then at the bottom of this Eightcap review you wil find a lot of alternatives to Eightcap.
What you ought to know about trading with Eightcap
Eightcap is a dynamic platform that provides various methods of trading online. These tools cover the monetary markets substantially. The Majority of the broker platforms offer less methods than Eightcap
If you wish to exchange with Eightcap, you'll require a minimum deposit of $100. This deposit is required if you want to begin trading with Eightcap. This 2021 Eightcap review will direct you safely about trading with them.
Eightcap is as flexible as another brokerage platform. Eightcap is excellent for traders who want a manageable variety of low-cost services. The platforms provided by Eightcap are third party, white-label offerings. All traders can choose out of MT4, Tablet & Mobile apps.
Together with everything, Eightcap has multiple benefits to new and verteran traders and should be investigated. There is no minimum time over which a transaction must be kept open. The agents provide premium customer service which rewards customers with benefits.
Many unprofessional brokers try to pressurise users into bigger funding for premium services. Eightcap, on the other hand, is more concentrated on trading volume. Traders can expect trading conditions to be just, honest and transparent. The more lots traded by the user, the greater benefits will come along.
Eightcap accounts are available around the world and provides quality service wherever they have clients. There are only a select few countries where Eightcap accounts are not available. Traders in the following countries cannot open or use a Eightcap account:
Is Eightcap Safe To Trade With?
Established in 2006, Eightcap has been in operation for 6 years, they are headquarted in Australia.
Eightcap is regulated by Australian Securities and Investment Commission (ASIC). These figures have rules that mandate that trading platforms have steps in place to maintain investor's assets procured. This means that Eightcap users don't need to be worried about their money since it is segregated and safely kept in banks that are established. SSL encryption secures every user's private information as well.
You are able to make use of an option for 2 Factor Authentications (2FA) with Eightcap for heightened security. An SMS for the verification code will be sent to your phone. You'll be required to enter this code to log in to your account.
Another concern with fiscal brokers is in regards to security may be manipulation of trading. This is highly disadvantageous for consumers on those platforms. However, this is much more widespread in the example of Market Maker brokers who compete with customers on the stage.
Pro's & Con's Of Trading With Eightcap
Every online trading platform will have some pros and cons Eightcap review would be complete without showing both sides. This Eightcap review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
- Eightcap is trusted by 10,000+ clients
- Eightcap doesn't charge inactivity fees
- Eightcap offer trading on MT4, Tablet & Mobile apps
- Eightcap offer 100 trading instruments
- Eightcap trades major forex pairs
- Eightcap trades minor forex pairs
- Eightcap trades exotic forex pairs
- Eightcap can communicate in English, and Chinese
- Eightcap does not offer Negative Balance Protection
- Eightcap does not offer Guaranteed Stop Loss
- Eightcap charge withdrawal fees
- Eightcap charge deposit fees
- Eightcap doesn't offer trading on cryptocurrencies
- Eightcap charge CFD fees
Eightcap Review - Compare Brokers Similar To Eightcap
|Eightcap||Binary Mate||Interactive Brokers||Velocity Trade|
|Regulated By||Australian Securities and Investment Commission (ASIC)||Cyprus Securities and Exchange Commission (CySEC)||Financial Conduct Authority (FCA)||Australian Securities & Investment Commission (ASIC)|
|Find Out More|
|Risk Warning||Losses can exceed deposits||Your capital is at risk||Losses can exceed deposits||Your capital is at risk|
Eightcap Review - Regulation And Licencing In More Detail
Eightcap is regulated by Australian Securities and Investment Commission (ASIC).
Eightcap, as a business, has a strong set of rules for ensuring fair trading onto its own platform. For data encryption purposes, it provides an industry-standard secure socket layer (SSL).
As per the company's privacy regulations, client information is to not be shared with some other institutions or individuals. This includes credit history and other financial information.
Eightcap Review - Awards
- At the time of writing this Eightcap review, they had not received any awards.
Eightcap Review - Minimum Deposit Required
The minimum deposit that you must deposit to begin on Eightcap is $100. This is an adequate amount for those just beginning. You can create more advanced deposits as you cooperate. But, ensure you understand how to make the most of your cash before investing in larger amounts.
Eightcap Review - Commission And Fees Explained
Eightcap is an online broker platform, and most online brokerages charge lower prices than traditional brokerages tend to charge. The reason for this is that the companies of online brokerages are scaled better. In other words, an online broker is not necessarily influenced by the number of clients they have.
But this doesn't mean that online brokers do not charge any fees. They charge prices of varying rates for a variety of services to earn money. There are primarily three types of penalties for this objective.
The first kind of charges to look out for are trading charges. When you make a genuine trade, like purchasing a stock or an ETF, you are billed trading charges. In these cases, you are spending a spread, financing rate, or a commission. The kinds of trading charges and the rates vary from broker to broker.
Commissions could be fixed or dependent on the traded volume. On the flip side, a spread denotes the gap between the buying and selling price. Funding or overnight prices are people that are charged when you maintain a leveraged position for longer than daily.
Apart from trading charges, online agents also bill non-trading fees. These are dependent on the actions you undertake on your account. They are charged for surgeries like depositing money, not investing for long periods, or withdrawals.
Generally, Eightcap doesn't charge high fees in comparison to other online agents. For operations other brokers charge for, they do not charge a broker fee, or they charge a lesser amount. This is beneficial for those who regularly trade, for example daily or weekly trading.
But, non-trading fees billed by Eightcap are comparatively competitive. As a result, you're charged more for non-trading actions on your trading accounts, such as withdrawal and deposits. These aren't related to the sale and purchase of resources.
This Eightcap review breaks down every one of the relevant non-trading fees for you in detail.
Compare broker fees against Eightcap
|Eightcap||Binary Mate||Interactive Brokers||Velocity Trade|
|Withdrawal Fees||Yes||variable||10 USD||variable|
Eightcap Review - Withdrawal Fees Explained
Eightcap charges a withdrawal fee if you create a bank transfer. Each time you transfer money back into your bank account, these withdrawal charges become applicable.
Withdrawal of cash is possible at any time from your Eightcap account. It's possible to draw sums up to the amount of your account balance, keeping aside the perimeter used. 1 thing to keep in mind is that you don't necessarily need to have any cash on your account.
Moreover, the withdrawn money will be moved directly to the account you use to create deposits. Thus, in the event that you used a credit card for deposits, the withdrawn money is going to be sent to the card. Eightcap will ask you to provide other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you are withdrawing money in various currencies from USD, a conversion fee is also important. The conversion fee will depend on the currency you're opting to withdraw in.
Eightcap Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is only one of those buzzing questions that run through your head when open an account with Eightcap. An inactivity fee is an amount charged to registered traders who have not engaged in purchasing or selling for a while. The period considered inactive is determined by the broker.
The inactivity fee also differs from 1 agent to another and isn't standardized. If a dealers account does not have a buying or selling trade, it's maintained by the broker as an inactivity fee. The traders need to pay this commission under conditions and terms that they had consented while registering.
Eightcap doesn't charge inactivity fees so you are free to pop in and out of your account as needed
Even if no charges are indicated by Eightcap, it is better that you close the account if you are inactive. Inactivity fees are not just charged by brokerage firms but also many financial services.
For other trading platforms, the inactivity fee is contingent on the sort of account you have chosen. The inactivity fee is exposed to a lot of circumstances and should be revealed clearly by the broker beforehand.
Eightcap Review - Deposit Fees Explained
When you transfer money in your trading account by your bank account, a deposit fee can be billed by the broker. Most agents do not charge too much money for this particular operation.
Eightcap charges a deposit fee for transferring money into your trading account.
Depositing cash on the Eightcap trading platform is easy. You just have to complete a single-user profile questionnaire to begin depositing money into your trading account. You'll have to give an identity evidence and proof of residency to deposit large amounts.
Eightcap Review - Compare Broker Deposit Methods
|Eightcap||Binary Mate||Interactive Brokers||Velocity Trade|
What Can You trade With Eightcap?
Note: Eightcap provides many different trading instruments due to regulatory restrictions in many countries. Trading instruments offered can differ depending on the country of residence of the client.
Eightcap has a wide variety of over 100 instruments available for you to trade with.
If trading currency pairs is of interest to you then Eightcap offer over 45 currency pairs.
Compare Eightcap, Binary Mate, Interactive Brokers & Velocity Trade below.
Alternatives To Eightcap
If, after reading this Eightcap review, Eightcap doesn't quite meet your requirements check out these Eightcap alternatives.
We've scoured the internet to find the best alternatives to Eightcap. Click the hyperlinks below to learn more.
Frequently Asked Questions about Eightcap
Can I try Eightcap before I buy?
Yes, you can most certainly try Eightcap before you buy. Eightcap provides demo accounts for the convenience of beginner traders. You can use this feature to build your faith in the system and yourself and your trading strategies.
If you sign up for a demo account on Eightcap, you will set out with a decent amount of virtual currency. It is to establish a sense of safety and confidence in you until you choose to spend your own money.
With this virtual Eightcapdemo account, you are able to experiment in any way, to whatever length you wish. You might also open positions, test different trading approaches, and more.
Eightcap specifies on its official website which you can trade real time stocks in a demo account.
Is Eightcap safe?
You can drop all of your worries because we believe that Eightcap is totally safe to use. It is in compliance with all the principles of Australian Securities and Investment Commission (ASIC).
Nevertheless, Eightcap doesn't provide assured stop-loss protection.
Why does Eightcap ask for my passport?
The reason that Eightcap asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, Eightcap has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, Eightcap must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with Eightcap?
The process to start trading withEightcap is perhaps simple enough to be a cakewalk. You need to begin by signing up on the Eightcap website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with Eightcap is $100. You should have a good hold over the nuances of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with Eightcap.
The best way to kickstart your trading career with Eightcap is to open a demo account facility before risking any real money
What funding methods do Eightcap accept?
There are a number of methods to fund your accounts with Eightcap. The process is effortless and quick, with different payment methods in your fingertips.
You can use credit or debit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing funds. You have to keep in mind that PayPal isn't available in every country. The currencies Eightcap
Is my money safe with Eightcap?
Yes, your cash is safe and protected with Eightcap. As you already know, Eightcap operates with good conformation to. It has established lots of measures to protect all its investors.
Eightcap protects its clients' private and sensitive data under SSL encryption. Your capital will be retained highly secure in top-tier banks.
If you want to further safeguard your account, you can enable Two-Step Verification also. It requires an SMS confirmation for you to access your account.
Is Eightcap trading good?
Yes, trading through Eightcap is a pleasant and good experience indeed. It is an excellent and intuitive platform with useful features for your ease. Moreover, you could also obtain access to a vast selection of educational resources and assistive substance to kickstart your trading expertise.
If you are still skeptical, you can open a eToro demo account and evaluate the trustworthiness of the platform for yourself.
Which Countries does Eightcap support?
Eightcap operates around the globe. However, due to regulations there are some countries that Eightcap does not accept clients resident in
Is Eightcap legit?
Eightcap is a legit company headquarted in Australia since 2015. They are regulated by Australian Securities and Investment Commission (ASIC). Eightcap is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is Eightcap a good broker?
Eightcap is an excellent agent, and its users can vouch for it. The highlight of the platform is its quick order execution on transactions.
You'll discover the clean layout of this platform and the commendable features that a pleasure to work with.
Is Eightcap a trustworthy broker?
Yes, Eightcap is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for Eightcap?
The minimum deposit to open a live account with Eightcap is $100
How long do Eightcap withdrawals take?
Normally, withdrawal of money from Eightcap is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from Eightcap to show in your bank account.
Are Eightcap regulated?
Eightcap are regulated by Australian Securities and Investment Commission (ASIC)
Is Eightcap a market leading broker?
Eightcap is currently among the business leaders. It has over 10,000+ registered users and over 6 years of experience on its record. They are among the world's top trading platforms and a prominent figure in the Fintech revolution.
It simplifies this standing to its incredible platform and broad selection of tools plus resources so you can invest in capital markets.
Is Eightcap a con?
No, Eightcap is not a con. They are regulated by Australian Securities and Investment Commission (ASIC) and must adhere to their rules. Thus, it is safe to say that Eightcap is not a scam.
Can you make money with Eightcap?
Using Eightcap, several traders earn a lot of money. However, on average, through consistent trading, you can create between 2% - 10% profit a month.
This can look to be a little number, but over the year, this adds to a significant amount of gains. Even though Eightcap provide you all the tools to earn money, they cannot guarantee you will gain.
Does Eightcap have fees?
Yes. To start trading using Eightcap, you have to deposit $100. Particular commissions while trading additionally applies. Any processing fees from your bank might have to be incurred by you.
When was Eightcap founded?
Eightcap was founded in 2015 in Australia. Eightcap is regulated by Australian Securities and Investment Commission (ASIC).
How many people use Eightcap?
Eightcap is a worldwide recognised agent with 10,000+ clients.
Where is the Eightcap head office?
Eightcap has its head office in Australia
Does Eightcap offer negative balance protection?
No. Eightcap doesn't offer negative balance protection. If your balance is unfavorable, Eightcap indicates you promptly contact client services. For this, you are able to fix any imbalances in your own account.
Does Eightcap offer guaranteed stop loss?Eightcap regrettably, does not offer guaranteed stop loss. Eightcap provides an opportunity for its traders to close their trade in their given price. Apart from that, Eightcap does not provide guaranteed stop loss.
Does Eightcap allow scalping?Yes, Eightcap do permit scalping. Many traders throughout the world select Eightcap for their services that are trading. They offer trading on MT4, Tablet & Mobile apps which allow this.
Does Eightcap allow hedging?
Yes, Eightcap does allow hedging.
Can you trade energies with Eightcap?
Yes, you can trade energy stocks with Eightcap
Can you trade agricultural shares with Eightcap?
No, unfortunately you cannot trade agricultural stock with Eightcap
Can you trade cryptocurrency with Eightcap?
No, unfortunately you cannot trade cryptocurrency with Eightcap
Can you trade metals with Eightcap?
Yes, you can trade metals with Eightcap
Can you trade UK Shares with Eightcap?
No, unfortunately you cannot trade UK shares with Eightcap
Can you trade US Shares with Eightcap?
No, unfortunately you cannot trade US shares with Eightcap
Can you trade Japanese Shares with Eightcap?
Yes, you can trade Japanese shares with Eightcap
Can you trade German Shares with Eightcap?
No, unfortunately you cannot trade German shares with Eightcap
Does Eightcap accept bank transfers?
Yes, Eightcap accepts bank transfers for depositing money.
Does Eightcap accept credit cards?
Yes, Eightcap accepts credit cards for depositing money.
Does Eightcap accept PayPal?
No, Eightcap does not accept PayPal.
Does Eightcap accept Skrill?
No, Eightcap does not accept Skrill.
Does Eightcap accept Payoneer?
Yes, Eightcap accepts Payoneer for depositing money.
Does Eightcap accept Neteller?
No, Eightcap does not accept Neteller.
Does Eightcap offer Live Chat customer support?
Yes, Eightcap offers customer support through live chat.
Does Eightcap offer phone customer support?
Yes, Eightcap offers customer support over the telephone.
Does Eightcap offer email customer support?
Yes, Eightcap offers customer support through email.
What languages can Eightcap communicate in?
Eightcap has the ability to communicate and support customers who speak: English, and Chinese
Does Eightcap have a wikipedia page?
No, Eightcap does not have an official wikipedia page.
Does Eightcap offer demo accounts?
Yes, Eightcap offers demo accounts so you can learn their systems before risking any real money.