Eightcap fully supports the use of Expert Advisors (EAs) on MT4 and MT5 platforms, allowing traders to automate strategies, conduct backtesting, and run bots without restrictions. You can fund your Eightcap account using Visa, Mastercard, PayPal, Skrill, Neteller, Wire Transfer, or cryptocurrencies like Bitcoin and USDT. These options provide flexibility for traders across different regions and preferences.
With this account, traders pay $7 per standard lot round turn, equating to $3.50 to enter the trade and another $3.50 to exit. Despite the commission, this setup often results in lower overall costs due to the reduced spreads. Eightcap offers lower spreads for the nine most traded currency pairs than the industry average. Comparing these to other top brokers in the table, Eightcap’s raw spreads remain competitive, particularly in the USD/JPY and EUR/USD pairs, where they are among the lowest in the market.
Are there any fees for deposits and withdrawals?
Yes, a free demo account is available, allowing traders to practice strategies in real market conditions without risking real money. Users note fast responses in live chat, polite service, and the willingness of specialists to quickly help with registration, verification, and technical issues. The presence of local contact centers is especially appreciated, simplifying interactions for clients in different regions. At the same time there are comments about delays in responses during peak hours and when contacting by phone. The broker’s toolkit includes Eightcap Labs with guides, e-books, and strategies, webinars with experts, and a library of video lessons. However, the training program is less systematized and extensive than those of leading brokers with full-fledged academies and multimedia courses.
Just signed up but so far so good.Excellent customer service, getting me up and running, very helpful and a pleasure to deal with. Companies on Trustpilot aren’t allowed to offer incentives or pay to hide reviews. No, both the Standard and TradingView Accounts are commission-free for most assets. However, shares CFDs may incur commissions, so it’s best to check the instrument-specific pricing details. You can open an account by completing the online registration form on Eightcap’s website, verifying your identity, and funding the account.
- Representative Mariana has been helping me with any queries or issues I had faced and she’s been very helpful.
- Within seconds, their support agent responded clearly, confirming the threshold and even guiding me to the fee-free deposit options, a seamless experience that showcased their efficiency.
- Eightcap’s global reach is anchored by top-tier regulation in multiple jurisdictions, including Australia, the UK, Cyprus, and the Bahamas.
- However, long-term investors seeking traditional products like ETFs or bonds may find the asset range limited.
- We also liked the in-house trader education platform, if you’re a beginner trader, it’s a great thing to look into.
- The minimum deposit to open a trading account at Eightcap is $100 or the equivalent in the chosen currency.
Regulated By
- A trade ticket and chart on MetaTrader 5’s web platform, accessed through Eightcap’s offering.
- This provides traders with ideas for diversifying portfolios, while enabling them to learn from market professionals, gain valuable insights and pick up tips on trading the financial markets.
- Yes, a free demo account is available, allowing traders to practice strategies in real market conditions without risking real money.
For instance, if you encounter any user complaints, you might discuss them with the broker to verify if such issues exist. Additionally, you should review the broker’s policy and terms of service. Yes, Eightcap is beginner-friendly with a low minimum deposit, demo accounts, educational resources, and user-friendly platforms like MT4, MT5, and TradingView. Eightcap supports a wide range of deposit methods, including bank cards (Visa, Mastercard), international bank transfers, e-wallets (Skrill, Neteller, PayPal), as well as cryptocurrencies. Deposits are credited instantly or within a few hours depending on the method. Eightcap is an international broker founded in 2015 and regulated by ASIC (Australia), FCA (United Kingdom), CySEC (Cyprus), and SCB (Bahamas).
Support reviews
He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. Steven Hatzakis is a well-known finance writer, with 25+ eightcap broker review years of experience in the foreign exchange and financial markets.
Yes, Eightcap is a legit and trustworthy broker, compliant with five regulators, where it maintains a clean operational track record. It has been in the industry for more than a decade and I did not find any complaints about its safety. I used PayPal to fund my account, and the process was very smooth, taking less than 5 minutes to complete.
What is Eightcap’s Embedded API, and who is it for?
Eightcap supports MetaTrader 4 and MetaTrader 5, two of the most widely used and powerful trading platforms globally. These platforms offer advanced tools, fast execution, and support for automated trading strategies like Expert Advisors (EAs). Eightcap, founded in 2009, is a trusted Forex and CFD broker regulated by ASIC, FCA, CySEC, and SCB. It offers competitive spreads, MetaTrader platforms, strong support, and flexible accounts for traders of all experience levels. Every trader has their own style of trading and so access to a variety of trading platforms is useful because it allows you to choose the one that best fits your preferred strategies, tools, and experience level.
Manual trading profit hold — transparency & settlement required
Eightcap offers traders a selection of account types tailored to different strategies and experience levels. Whether you seek commission-free simplicity or raw spreads for tighter control, every option comes with competitive conditions and a low $100 minimum deposit. Eightcap offers three account types – an extendable 30-day demo account, and two types of live accounts. The Raw account has tighter spreads, commission-based pricing, and is best suited for high-frequency and scalping traders due to the cost advantage.
Fees & Commissions
Tier-1 regulation gives you confidence that your funds are safe with a forex broker that is reliable, well-capitalized, and committed to operating under the most stringent global regulatory standards. This applies to both their standard account and raw account in all jurisdictions. This is one of the lowest requirements of the global brokers making trading more accessible. With a variety of extra features that elevate the standard MetaTrader experience, Eightcap has positioned itself closer to what the best MetaTrader brokers provide. In addition to these platforms, Eightcap’s in-house Eightcap Labs initiatives also offer a range of trading tools to further support your trading strategy. Led by Steven Hatzakis, Global Director of Online Broker Research, the ForexBrokers.com research team collects and audits data across more than 100 variables.
But after using it to scalp EUR/USD last month, I realized it’s not a one-size-fits-all solution. Having traded over 1,000 forex scalps on MT4 since 2021—and even coding my own Bollinger Band squeeze EA—I can confidently say MT4 remains my go-to for forex simplicity. But after attempting to trade ASX200 shares on it last year, I quickly realized its limitations. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust.
Both live account types require a $100 minimum deposit and support all base currencies. The Raw account is the most competitive for active traders, with spreads that start at 0 pips and a commission that starts at $7 per round trip. The Standard account is commission-free but features spreads starting at 1 pip. During live market hours, spreads on major pairs like EUR/USD typically match the advertised levels. Eightcap also offers low-cost crypto trading and charges no inactivity fees.
What commodities are available for trading?
Eightcap’s global regulatory presence ensures it operates with transparency and integrity. From Australia to the UK, Cyprus, and the Bahamas, traders benefit from trusted oversight and a commitment to compliance across major financial markets. There are no deposit or withdrawal fees with this broker, nor are there any fees to open an account.
We built the website to assist forex traders in finding the right forex brokers to trade with ease. Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017. Yes, Eightcap supports scalping with fast execution, Raw spreads, and no restrictions on trading strategies. It features materials on technical and fundamental analysis, practical use of MetaTrader and TradingView, as well as strategy overviews. The videos are suitable for both beginners and more experienced traders looking to deepen their knowledge.