Introduction to Eightcap

Eightcap is a globally recognized online Forex and CFD broker, offering traders access to a wide range of financial instruments including currency pairs, indices, commodities, and cryptocurrencies. Established in 2009 and headquartered in Melbourne, Australia, Eightcap is regulated by several top-tier authorities, ensuring a secure and transparent trading environment. The broker is known for its competitive pricing, advanced trading platforms, and commitment to providing a robust trading experience for both novice and experienced traders.

Key Features

• Extensive Asset Portfolio: Eightcap offers over 250 CFD instruments, including more than 40 currency pairs, major indices, various commodities (gold, silver, oil), and an impressive selection of over 250 cryptocurrency CFDs, which is significantly higher than many competitors.
• Leading Trading Platforms: Traders can choose between the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known for their powerful charting tools, technical indicators, and automated trading capabilities. Eightcap also integrates with TradingView, providing advanced charting and community features.
• Competitive Spreads and Commissions: The broker offers two primary account types: Standard (spread-only) and Raw (commission-based with ultra-low spreads). Raw accounts typically feature spreads from 0.0 pips on major currency pairs, alongside a competitive commission.
• Strong Regulatory Framework: Eightcap operates under the regulation of several reputable bodies, including the Australian Securities and Investments Commission (ASIC), the Securities Commission of the Bahamas (SCB), and the Financial Conduct Authority (FCA) for specific entities.
• Fast Execution Speeds: Leveraging enterprise-grade hardware and fiber optics, Eightcap ensures minimal latency and fast order execution, critical for high-frequency trading strategies.
• Educational Resources: Traders have access to a variety of educational materials, including market analysis, webinars, trading guides, and an economic calendar to help them stay informed and improve their trading skills.
• 24/5 Customer Support: Eightcap provides multilingual customer support via live chat, email, and phone, available five days a week to assist traders with any queries or issues.

Pros

• Ultra-tight Spreads: Particularly attractive on Raw accounts, making it suitable for scalpers and high-volume traders.
• Broad Cryptocurrency CFD Offering: One of the most extensive selections of crypto CFDs available from a regulated broker.
• Multiple Robust Platforms: Choice between MT4, MT5, and TradingView caters to diverse trading preferences and strategies.
• Strong Global Regulation: Provides a high level of security and trust for traders.
• Excellent Execution Speed: Contributes to better trading outcomes, especially in volatile markets.
• User-Friendly Account Opening: A straightforward and quick process to set up a trading account.
• Free Demo Account: Allows new traders to practice strategies without financial risk.

Cons

• Limited Product Range Beyond CFDs: While extensive in CFDs, it doesn’t offer other investment products like stocks, ETFs, or bonds directly.
• Not Available in All Regions: Due to regulatory restrictions, Eightcap’s services are not available in certain countries (e.g., USA).
• Educational Content Could Be More Extensive: While present, the depth of educational materials may not rival some of the industry’s leaders in this area.
• Some Deposit/Withdrawal Fees: While many methods are free, certain payment options may incur fees.

Pricing

Eightcap’s pricing structure is designed to be competitive, primarily revolving around two account types:

• Standard Account:
  • Spreads: From 1.0 pip on major FX pairs.
  • Commissions: $0 (commission-free trading).
• Raw Account:
  • Spreads: From 0.0 pips on major FX pairs.
  • Commissions: Typically $3.50 per lot per side (or $7.00 per standard lot round turn) for Forex and Metals. Commissions for Crypto CFDs can vary.
• Swap Fees: Applicable for positions held overnight. These are interest charges for holding leveraged positions open.
• Deposit/Withdrawal Fees: Eightcap generally offers various free deposit methods (e.g., bank transfer, credit/debit cards, Neteller, Skrill). However, some third-party payment processors or international bank transfers may incur fees charged by the respective service provider. Eightcap does not charge internal fees for withdrawals.
• Inactivity Fees: Eightcap does not charge inactivity fees.