June 03, 2020

Top Forex Brokers

 eightcap Review

EightCap Review : Latest updates and comparison

Reviewed broker: Eightcap

Established in 2009

Location: Australia

Regulation: Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence number 391441.

ECN: yes

STP: yes

No dealing desk: yes

Countries that currently cannot trade with Eightcap:
Afghanistan, Belgium, Bosnia and Herzegovina, Burundi, Canada (British Columbia and Ontario), Congo, Côte d’Ivoire, Eritrea, Gaza Strip, Haiti, Iran, Iraq, Israel, Japan, Laos, Lebanon, Libya, Myanmar, North Korea, Puerto Rico, Sierra Leone, Somalia, Sudan, Syria, the Central African Republic, Uganda, Ukraine, Vanuatu, Venezuela, the United States of America, West Bank, Yemen and Zimbabwe

Segregated client trust accounts: yes

Trade Forex, Crypto, Indices & Commodities with an Australian FX & CFD Broker.

EightCap Review : Trading Platform Features

Trading platform: Metatrader 4 and MetaTrader 5

Trade over 40 major and minor Forex pairs on either the MT4 or MT5 platform.

Key features of MT4

  • Trade FX, Indices and Commodities
  • Mobile & Desktop
  • Award winning platform
  • Instruments in 9 time-frames
  • 30 pre-installed indicators

Key features of MT5

  • FX, Indices, Commodities, Shares & Cryptos
  • Mobile & Desktop, Web Trading
  • Award winning platform
  • Instruments in 21 time-frames
  • 80 pre-installed indicators

With numerous advanced features and trading tools, combined with an intuitive interface, our proprietary trading platform for desktop is everything you need to start trading Forex and CFD.

Real time charts: yes

Account types: standard, raw

Minimum Deposit $100
Minimum Trade Size 0.01
EAs Available
Minimum Deposit $100
Minimum Trade Size 0.01
EAs Available
 
Registering with Eight Cap is easy and only takes a few minutes. You can apply online through the broker's website by clicking on any open or create account button and follow the prompts.the registration form

Demo account: available for 30 days, but clients may opt-to apply for a non-expiry demo account by contacting Eightcap broker directly

Spread types: fixed, variable

Variable spreads start from 1 pip

Fixed spreads start from 0 pip

Commissions: starting from $3.5 per standard lot traded

Currency pairs: 42

Mobile trading: yes

One click trading: yes

Scaling: allowed

Hedging: allowed

Maximum leverage is up to 1:500

Minimum trade size: 0.01

No limit on open positions: yes

Available base currencies: AUD, USD, GBP, EUR, NZD

Margin requirement:  If you have no free margin, you will not be able to open any new positions and your current positions will be stopped out. You will be notified via trading platform if your account equity falls below 80% of the required margin. 

Negative balance: your account balance may turn negative if the loss on the positions stopped out exceed your account balance.

Automatic trading (copy trade or mirror trading) is available through myfxbook 

EightCap Review : Payment Options

Minimum deposit requirement with Eightcap is $100

Payment methods: Visa/MasterCard, Skrill, POLi Payment, Bank Wire Transfer, China UnionPay, Avodapay, Neteller, Fasapay

Withdrawals of funds can be requested through your Client Portal area or you can get in touch with your account manager. Withdrawals are processed within 24 hours during business days and you will be able to see the funds in your bank statement within 2-5 days. 

EightCap Review : Customer Service

Online chat: available

Email support: yes

Phone representatives: yes

Overall Client Services team is available to help 24 hours a day, 5 days a week. 

EightCap Review : Educational Material and Promotions

 At the moment of this EightCap review there was only Refer Friend promotion which entitles you of $100 cash prize if you bring a friend to trade with the online forex broker.

Eighcap lacks any educational material on the website itself, however we were able to access daily market analysis through the broker's facebook page. 

How was the rating of Eightcap performed compared to other brokers? 

This 2020 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on Eightcap FX broker performance and features. 

Overall our online Eightcap review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online broker Eightcap or you find inaccurate details Eightcap broker review please get in touch with us and the changes will be applied.