EightCap Review 2021 | Eight Cap Forex Broker.
Established in 2009, Eightcap is headquartered in Melbourne, Australia. The enterprise is governed by The Australian Securities and Investment Commission ASIC and the Vanuatu Financial Services Commission (VFSC).
Eightcap is growing quickly and has international offices in the UK, Bulgaria, China, and Thailand with a big, multilingual customer service crew.
A worldwide CFD and Forex broker is Eightcap. As a result, consumers may easily trade over 250 financial instruments using both MT4 and MT5 trading platforms and two competitive accounts.
This evaluation might assist you in determining whether you are opening an account, covering spreads, leveraging, plus the mobile application and demo.
Learn the detailed best forex broker review to choose the right broker to invest your assets. To open a live account with this broker, click here.
Trading Platforms :
The MT4 platform enables online trading in currencies, indexes, and commodities. It is a great all-around platform because of its sophisticated UI, algorithmic trading features, and extensive charting package.
Features:
- - Nine time-frames, 30 built-in indicators, 24 graphical objects
- - Free-of-charge trading robot and access to Expert Advisors
- - Four types of pending orders, three order execution types
- - Real-time quotes in Market Watch
- - One-click trading
- - Historical data
MT5 is a state-of-art platform with forex, indexes, shares, commodity, and cryptocurrency trading. Rewards for users:
Features:
- - 21 time-frames, 38 technical indicators, 44 graphical objects
- - Free-of-charge trading robot and access to Expert Advisors
- - Six types of pending orders, four order execution types
- - One-click trading and Advanced Market Depth
- - Financial news and economic calendar
- - Real-time quotes in Market Watch
- - Netting and hedging
- - Community chat
- - Historical data
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Web Trader:
The Web Trader version of MT5 is also offered in Eightcap. The online platform may be simply launched from the Broker homepage and includes a range of capabilities that you can download from the desktop. As a result, the approach to access the markets is rapid and hassle-free.
Asset Offering :
- Currencies: - 40 major, minor, and exotic currency pairs
- Share CFD’s: - Invest in 250 of the most popular firms in the U.S. and Australia,, featuring Westpac Banking Corp and Woolworths.
- Index CFD’s: - Trade 10 of US 30, UK 100, an SPX500, the most renowned indices
- Cryptocurrencies: - Invest in Bitcoin, Ethereum, Litecoin, and Ripple
- Commodities: - Trade gold, silver, and oil CFDs
Commissions and Fees :
Eightcap provides its worldwide entities two types of membership. Therefore, the costs and fees that you pay may vary on whether you select the Raw account or the Standard account.
In general, we could not conduct an accurate evaluation as Eightcap does not provide its average spread data. Considering the information we can observe, Eightcap is far more costly than the lowest price forex brokers.
The difference between Raw and Standard Account is the Raw account charges $3.5 for each standard lot traded and has minimal spreads than the Standard account.
Research :
Eightcap delivers research mostly in the form of textual announcements from its employees and related videos on the company’s YouTube channel. A market update and market focus are available that pick particular assets to be analyzed extensively and then a Trading Week Ahead with market and event forecast.
Each article duplicates the material in video format, helping to make your content experience more consistent. Still, at the same time, with three series in multimedia formats every day, there is less variation.
In general, the addition of third-party tools and research material (e.g., autochartist, central trading) would contribute to the top Eightcap in this area.
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Education :
Eightcap only provides seven CFD training videos and less than 10 CFDs (excluding platform tutorials). There is also a poor choice of informative articles.
Boosting the choice and value of instructional content in this area would help boost the rating of Eightcap. Eightcap is not in comparison to the finest forex brokers, though.
Regulation :
In order to safeguard the customer interests, the firm is enforced simultaneously across two entities: Eightcap Pty Ltd is controlled by the Australian Securities and Investment Commission (ASIC), Vanuatu Financial Services Commission (VFSC).
Eightcap is also an Australian License for Financial Services (AFSL). In accordance with the Corporations Act, Client Funds are likewise separated and kept in Tier 1 banks.
Customer Support :
In addition, all trading styles are adopted, including variable lot sizes and high options without limits on using EAs or other strategy. All traders receive the same terms of trading and support from the firm for all needs, regardless of their account type.
Final Words :
While Eightcap's establishment dates back more than ten years, Eightcap has been at the forefront of sector when it relates to its Trust Score. At same time, because of its relative new arrival into Forex Broker regulation, the Vanuatu service by Eightcap does not provide a great deal of safety for customers.
More licences would enhance Eightcap's offering in other Tier 1 jurisdictions and its variety of facilities. Eightcap will continue to track prominent brokers in the sector by then.
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