Eightcap Review
Eightcap was established in 2009 in Australia. The company has undergone significant changes in 2014-2015 both in management and in structure. In addition to the main office in Melbourne, additional offices were opened in London and Shanghai.
EightCap is a registered business name of EightCap Pty Ltd (ABN 73,139,495,944). Regulated by the Australian Securities and Investments Commission (ASIC) – no. 391441.
ASIC requires licensed financial service providers to meet stringent requirements: have at least $ 1 million and follow various internal accounting and auditing procedures. In addition, regulated organizations are required to report regularly to ASIC.
However, the Australian regulator does not provide any compensation to investors if the licensed company becomes insolvent.
Trading conditions
- Min. deposit: $ 100;
- Min. transaction size: 0.01 lot;
- Leverage: up to 1: 500;
- Spreads: from 0 points;
- Scalping: yes;
- Demo account;
- Mobile Trading: iOS, Android;
- Available Base Currencies: AUD, USD, GBP, EUR, NZD, SGD;
- Deposit entry: Bank Wire, Credit Card, Debit Card, Skrill, China UnionPay, POLi;
- Withdrawal: Bank Wire, Credit Card, Debit Card;
Basic trading tools:
- Currency Pairs: 45+, based on minor currencies.
- 8 Indice CFDs: based on baskets of different blue-chip stocks.
- Metal Spot CFDs: gold and Silver.
- Energy Spot CFDs: crude Oil (WTI, Brent).
- 6 Crypto Pairs: Bitcoin (BTCUSD), Bitcoin Cash (BCHUSD), Bitcoin Gold (BCGUSD), Ethereum (ETHUSD), Litecoin (LTCUSD), Ripple (XRPUSD).
Broker EightCap allows you to trade cryptocurrencies through CFD (contracts for difference). This means that in reality the trader does not own the basic cryptocurrency, but may participate in changes the price of the cryptocurrency.
Broker offers 2 types of accounts:
– Standard Account:
- Commission: $0.
- Spreads From: 1.0 pips.
- Max. open positions or pending orders: no limit.
- Demo Period: 30 days.
- Designed for all types of traders, especially newcomers to the markets or trading in small volumes.
- Instant withdrawal options.
- Access to special promotions.
- Access to news and educational materials.
– Raw account
- Commission: $3.5 per standard lot.
- Spreads From: 0.0 pips.
- Max. open positions or pending orders: no limit.
- Demo period: 30 days.
- Designed for experienced traders or those who trade in large volumes.
- Access to narrower spreads.
- Access to flexible financing methods.
- Instant withdrawal options.
- Access to news and educational materials.
Trading platform
Available platforms MetaTrader 4 and MetaTrader 5.
Features of trading on MT4:
- 85 preset indicators.
- Instruments in 9 time frames.
- Interactive graphs and analytics.
- Three modes of execution of transactions.
- Marketplace for buying, selling and exchanging indicators and advisors.
Features of trading on MT5:
- Advanced charting features with 21 time frames and functionality for creating custom indicators.
- Access to 38 technical indicators.
- Marketplace for buying, selling and exchanging indicators and advisors.
- Access to additional markets.
- PC, Mobile App and browser based trading
Education and Analytics
Eightcap offers many different learning materials. The site also provided material on working with the MetaTrader platform.
But representatives of the company do not conduct webinars and seminars. No cost calendar and calculator. Also, the broker does not maintain a news blog and does not provide analytical materials.
