Latest Updated General Information Eightcap Broker
Reviewed broker: Eightcap
Established in 2009
Regulation: Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence number 391441.
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
Trading Platform Features of eightCap
Trading platform: Metatrader 4
Real time charts: yes
Account types: standard, raw
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
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
Minimum deposit requirement with Eightcap is $100
Payment methods: Visa/MasterCard, Skrill, POLi Payment, Bank Wire Transfer, China UnionPay
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.
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.
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.