Eightcap Broker Reviews
Eightcap is an Australian regulated online broker which was founded in 2009. Today, it has offices in five different countries. This means that you can access their trading services from almost anywhere in the world. They offer two types of accounts, a Standard and a Raw account. Both accounts have different levels of leverage and you should choose the one that suits your needs best.
Eightcap offers two account types
Eightcap is a broker that offers a wide variety of trading solutions. The company offers access to the global financial markets through its live accounts, tradingview charts, and MT4 and MT5 platforms. Customers can trade in the company’s standard account for a minimal commission of $3.5 per lot. The broker also offers support in several languages, including English, Chinese, French, Portuguese, Japanese, and Bahasa.
Eightcap offers two account types: the standard account and the raw account. The raw account charges $7 per round trip and offers a 0 pips minimum spread. Eightcap’s standard account is free to open, and it allows for up to 500:1 leverage. However, there is a negative balance protection policy in place to make sure that customers don’t lose more than they deposit. Moreover, the company’s demo account gives users the opportunity to test products and trading strategies without risking money.
Eightcap allows its clients to deposit using a variety of methods, including bank wire transfer. This method is supported in many regions, including Australia. It also offers several currencies for deposit, including AUD, USD, GBP, NZD, CAD, and SGD. The process usually takes one to three business days. However, the fee incorporated in the transaction may vary depending on the payment method. The minimum deposit for this method is $100, while the withdrawal limit depends on the country.
Eightcap allows its customers to open multiple trading accounts. Traders can open as many as they want, and they can even choose which account type they want. Additionally, the company offers two different trading platforms: MT4 and MT5. The two account types are similar, but they differ in some ways. The standard account is free to open and maintain, while the raw account has a minimum balance of $100.
Standard account
The customer support provided by Eightcap Broker is very helpful, fast, and knowledgeable. You can reach them via telephone, email, live chat, or contact form, and they also provide support in a number of languages. If you have any questions or concerns regarding the platform or administration of your account, they should be able to address your concerns immediately. Some reviewers noted that they had problems with ping, which was disappointing, especially considering that Eightcap claims to use Equinix data centers.
Eightcap offers a demo account to get a feel for their trading platform before making a full deposit. Their demo account is comprehensive and lets you try out their platform without risking any of your capital. They also offer webinars on third-party websites to educate their customers. Overall, Eightcap’s education section covers a variety of topics, but new articles are published only once a week.
There are two types of accounts available at Eightcap: the Standard account and the Raw account. The Standard account has a minimum deposit of $100 and offers low spreads as low as 1.0 pips. This account is perfect for beginners and those with smaller trading budgets. The standard account is not a good option for traders with a high risk appetite or a high number of trades.
The fees charged by Eightcap are low, average, and high, depending on the type of account you open. There are two kinds of fees: trading fees and non-trading fees. Trading fees include commissions, spreads, financing rates, and conversion fees.
Raw account
If you are a Canadian resident and want to invest in the forex market, then an Eightcap Broker Raw account might be a good choice. You can use this account to buy and sell currencies with low spreads. However, be aware that you are not allowed to use this account in certain jurisdictions or countries. You can contact customer support to learn more about this.
The Eightcap Raw account is designed for experienced traders looking to trade in larger volumes. It comes with features such as news, educational materials, and a client portal. Eightcap supports over 200 tradable instruments, including AUD, USD, EUR, GBP, and a host of others. It also offers a fast execution speed and low spreads.
Eightcap Broker’s fees are competitive, compared to the industry average. The minimum deposit is only $100. The company charges a spread that is the difference between the bid and ask price of a stock. The spreads are shown in tables according to account type. In addition, Eightcap does not charge any account maintenance fees. You can also opt to use their mobile and desktop trading platforms. The desktop software offers more features than the mobile version.
Eightcap Broker offers two types of accounts: the Standard Account and the Raw Account. The Raw Account costs slightly more than a Standard account, though it is not noticeable if you trade in small amounts. Nevertheless, the spreads on a Raw account are generally lower than those of a Standard account, so if you are an experienced trader, the Raw account is definitely worth checking out.
Eightcap is one of Australia’s leading online forex brokers. It has a reputation for providing excellent trading conditions. Its product range covers forex and CFDs, and it offers a RAW account with low spreads. Traders will have access to over 900 assets. It also offers MT4 and MT5 platforms, which are popular among retail traders. Eightcap also offers a demo account to test out its trading tools and conditions before making a decision.
Maximum leverage
The maximum leverage available at Eightcap is 500:1. While this may be too much for a newbie, it may actually work to your advantage if you are an experienced trader. Eightcap brokers have different leverage levels for different types of assets, so be sure to check the maximum leverage for your specific trading strategy.
Eightcap is an Australian-based company that has been in the business for over a decade. It is considered a market leader in forex trading and has high ratings on Trustpilot and Google. The broker also offers competitive spreads and commissions. Their platform is stable and offers fast order execution.
In terms of trading platforms, Eightcap uses MetaTrader 4 and MetaTrader 5. The software is easy to use and has a great user interface. In fact, the broker was recently recognized as the Best Global Forex MT4 Broker at the 2020 Global Forex Awards. Traders will be able to view price charts on 12 different chart types with over 100 pre-built indicators.
The company also offers a range of deposit options and trading instruments. Its customer service is available via phone, live chat, or web form. Eightcap offers low fees and fast execution. The company has an excellent reputation in the Australian financial market. ASIC has rated it as one of the most trusted and reliable brokerages. However, it lacks a mobile application for the iPhone and Android. Its service is not perfect, but it’s still a good option for newbies.
In terms of spreads, Eightcap is one of the most competitive broker services on the market today. It offers low spreads on both Bitcoin and other assets, and its standard spreads are comparable to the industry average. Eightcap also allows traders to use leverage, but it’s important to be careful when using it. The maximum leverage at Eightcap is 1:30.
Education tools
When it comes to Eightcap broker reviews, education tools are a big missing piece. The broker’s main page lacks comprehensive market research or third-party tools, and its lesson programs are sparse. Even though there are a few free webinars on the broker’s website, they aren’t nearly as useful as those offered by other brokers. The ‘Learn’ page has a variety of articles covering a variety of topics, though they aren’t updated as often as those on other sites.
Eightcap has a decent education offering, but there are some areas where the broker could improve. First, its trading platforms are not as user-friendly as other brokerages’, so beginners may find them difficult to use. This is especially true for Meta Trader, which is a more complicated platform than the usual binary or CFD broker.
Another missing piece of education is the company’s lack of customer support. While this might not seem like an important issue, it’s a major flaw that can cause traders to lose money. This issue can be easily remedied by Eightcap, but it does require some extra time. Despite these shortcomings, the broker’s customer support staff is a good sign of its reliability. While most reviewers praise the company’s support, some find it lacking.
Eightcap also has a 24-hour customer support service. Customer support agents are available via phone, email, or live chat. They are also bilingual, which is helpful if you have any language limitations. This is especially helpful for those who are learning about the Forex market, and it’s important to note that the support staff can respond in multiple languages, including English, French, Vietnamese, Portuguese, and Bahasa Indonesia.