Eightcap Review 2021

Eightcap Review 2021

Daniel Chan

October 6, 2021

Cryptocurrency

Who are Eightcap? 

Founded in Melbourne, Australia, in 2009, Eightcap is a multi-award-winning FX and derivatives broker that offers stocks, forex, indices, commodities and cryptocurrency CFDs. Eightcap offers commission-free trading on its standard account, and clients that opt for the Raw Account can trade with spreads from 0.0 pips. However, there is a commission charged on the Raw account at $3.5 per standard lot traded.

  • Web Address: www.eightcap.com/en
  • Countries of regulation: Bahamas, UK, Cyprus and Australia
  • Mobile app available: Yes
  • Deposit Methods: BTC, Tether, Credit/Debit, Bank Transfer, Neteller, Skrill, China UnionPay, BPAY and  POLi Payment
  • Trading Fees:  $3.5 commission per standard lot traded on Raw accounts
  • Deposit Fees:  FREE
  • Products: 400+ CFD products over assets like Forex, Indices, Shares, Cryptocurrency and Commodities
  • Trading Platforms: MT4/MT5

My Overall Thoughts on Eightcap

Eightcap is a great choice as a FX and derivatives broker, with multiple fee-free deposit methods, over 250+ cryptocurrencies, 400+ CFDs and a mobile app so you can trade wherever you are. It is a multi-award winning platform with over a decade's experience (founded in 2009) and is registered with ASIC in Australia, as well as being fully regulated in the Bahamas, UK and Cyprus.

Eightcap is very customer-focused, with free deposits and withdrawals, and low trading fees of $3.50 per lot with zero spread, or 0% commission with 1.0 pip spreads. Customer support in ten different languages is available 24hrs a day on Monday to Friday via live chat, email or phone. Experienced investors that want to trade a huge range of derivatives and cryptocurrencies will find Eightcap an excellent platform to use. 

Key Features & Advantages of Eightcap

Here are the best features offered by Eightcap that that stood out to us:

What Services does Eightcap offer?

Eightcap is a multi-award-winning FX and CFD broker with offices rapidly expanding worldwide. The broker is committed to building a home for MT4 and MT5 traders. Its goal is to deliver an unrivalled trading experience. Eightcap offers its clients access to over 400 CFD products, all with highly competitive spreads.

Low-cost CFD and Forex Broker: Eightcap charges zero deposit and withdrawal fees and zero inactivity fees.

Open an Eightcap account within a few minutesOpening an account with Eightcap is quick and straightforward, taking only a few minutes. You can apply for an account in three easy steps. First, complete a simple application form that requires you to fill out your details such as your name, email and phone number. Secondly, upload your documents to verify your identity and lastly, once this is approved, fund your account with as little as $100 to start trading the financial markets.

Regulated in multiple jurisdictions and clients funds segregated: Trust in your broker is one of the most important aspects when deciding where to trade. Accessing your funds is the most important aspect of opening an account with a broker. Eightcap not only offers swift withdrawals but is regulated by ASIC, FCA, CySEC and SCB. You can trade with peace of mind by using Eightcap, a reliable and trustworthy broker. When trading with Eightcap, you can rest assured that they segregate client funds from their company's funds. This means there is no relationship between client accounts and the company's bank account, ensuring your funds can not be misappropriated or interfered with.

Trade with Eightcap via the MT4 and MT5 platformsYou can trade with Eightcap via the MetaTrader platforms across desktop, web browser and mobile.

If you prefer the classic MT4 platform, it is available for download onto your computer and mobile device. For users that prefer the web browser, then you can access this via the MT5 platform. With the MT5 platform, you can access shares and all of the cryptocurrency CFDs offered by Eightcap.

MetaTrader 5 Download Application

MetaTrader 4 download platform

No deposit fees and withdrawal fees:  Eightcap charges no deposit fees and withdrawal fees and has various payment methods. Deposits and withdrawals can be made via BTC, Tether, PayPal, Credit/Debit Card, POLi Payment, Bank Wire Transfer, Fasapay, BPAY, China UnionPay, Skrill and Neteller.

A bank transfer can take several business days, while a credit/debit card is instant.

You can only deposit and withdraw money from accounts that are in your name. Eightcap users can also transfer money between their trading accounts in a matter of seconds, as needed via their client dashboard.

Mobile app - Trades screen

Mobile app - Orders screen

Assets offered by EightcapOver 400 CFDs are offered across assets such as Forex, Indices, Commodities, Shares and Cryptocurrency. More recently, Eightcap has just launched over 250 Cryptocurrencies, including coins, crypto-crosses and crypto indices. Spreads on cryptocurrencies are ultra-low. For example, we offer spreads on Bitcoin from 12 p/coin, Cardano from 0.004 p/coin, Dogecoin from 0.0002 p/coin and Ether from 0.45 p/coin.

For more information: https://trade.eightcap.com/en/trade-crypto/home-of-crypto-derivatives/https://www.eightcap.com/en/trading/instruments/cryptocurrencies/

Eightcap also offers access to Australian, UK and German shares. The ability to trade on over 400 CFDs is a great way for Eightcap users to diversify their trading portfolio.

24-hour support Monday to FridayEightcap has a fantastic support team that can be reached via live chat, email or phone available Monday - Friday.

Eightcap prides itself in customer service and offers support in English, Chinese, Bulgarian, Thai, French, German, Portuguese, Russian, Arabic and Spanish. The broker also has a reputable rating on both TrustPilot and Google. Eightcap has also received two awards at the Global Forex Awards 2021 - Best Forex Educational Resources - Global and the Best Trading Support in Europe.

The broker has recently been recognised for its crypto derivatives offering and has won Best Crypto Broker at the AtoZ Markets annual awards 2021.

Eightcap Fees

Deposit Fees and Deposit Methods

Eightcap charges no deposit fees and withdrawal fees and has various payment methods.

  • PayPal
  • BTC and Tether
  • Credit/Debit Card
  • POLi Payment
  • Bank Wire Transfer
  • Fasapay
  • BPAY
  • China UnionPay
  • Skrill
  • Neteller
  • Dragonpay (Singapore Based)
  • Sofort (German Based)

Eightcap Withdrawal Fees

There are NO withdrawal fees on Eightcap. 

Eightcap Trading Fees

Eightcap has low trading fees, their spread starts from 0.0 with $3.5 commission charged on per standard lot traded via their Raw account. The broker also offers zero commission trading via their Standard account and spreads start from 1.0.

Pros and Cons of Eightcap

Pros
  • ASIC, FCA, CySEC and SCB regulated
  • Over 400+ CFDs across Forex, Indices, Shares, Commodities and Cryptocurrency
  • 24/5 phone, chat and email support
  • Multi-award-winning broker
Cons
  • CFD trading carries risk
  • No direct stock trading

Eigthcap's Tools, Research and Education

Eightcap has a vast range of research tools available to its clients. This includes trade ideas, market updates and both fundamental and technical analysis guides. The broker also offers a trading week ahead to its users.

The broker offers fundamental articles under the learn section of its website. This is updated weekly to educate traders on strategy, risk, economic indicators, asset information, and trading psychology.

There is also information about major 'Financial Events' that have a profound impact on market movements. This allows clients to determine markets, sectors and events that they will need to be aware of.

Eightcap is the sponsor of The Trading Battle, a new series of live-streamed trading battles between two professional traders.

This new sponsorship allows traders to learn from FX and CFD experts by copying trade ideas and seeing how trading risk and emotion are managed.

As well as providing Eightcap users with the option to automate their trades code-free, clients are also given access to regular webinars held by Capitalise.ai. At the webinars, clients will learn more about the tool and how to use it to enhance their trading strategy.

https://www.eightcap.com/en/trading-platforms/tools/capitalise/

Eightcap clients can navigate the financial markets and customise their trades using powerful widgets, charts and trading apps via FX Blue Labs. There are many cutting edge tools available that are multi-platform and multi-lingual, allowing traders to make informed decisions. Such tools include the market manager that provides a birds-eye view over the fundamental elements, the correlation trader, which shows the correlation between symbols over a configurable time frame, and the alarm manager that a trader can use to take automatic action when an event occurs.

For more information: https://www.eightcap.com/en/trading-platforms/tools/fx-blue-labs/

Is Eightcap Legitimate and Safe?

Having performed a deep dive on Eightcap and I can safely say I believe they are a safe and legitimate broker. Eightcap was founded in 2009 (This means they have over a decade of experience in the industry), and is regulated by ASIC. They are also fully regulated in the Bahamas, UK, Cyprus and Australia.

Verdict

Eightcap is a safe, legitimate and regulated FX and derivatives broker that is an excellent choice for Australian traders. With a wide array of investment instruments, including 400+ CFDs and over 250+ different cryptocurrencies, it is easy to see why Eightcap deserves the awards it has received.

Focusing on its customers since its establishment in 2009, their users enjoy free deposits and withdrawals, and even zero commissions with 1.0 pip spreads, or low $3.50 fees per lot with zero spread. The availability of live chat, email and phone support 24 hours a day on weekdays show how dedicated Eightcap is to customer satisfaction. If you are an experienced trader looking for a platform to trade derivatives and crypto, you need to take a look at Eightcap. For some other options in Australia, you can also have a read of this article on the top Aussie forex brokers.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell forex, shares or any other financial products or use any specific broker. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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