Eightcap Review
4.2
Emphasizing the significance of selecting a reputable broker for your trading journey, it's that 77.48% of retail accounts incur losses when trading CFDs with this provider.
Eightcap distinguishes itself as a leading online brokerage, celebrated for its vast array of trading instruments. Whether your interests lie in forex, commodities, indices, cryptocurrencies, or shares,
Eightcap serves as a comprehensive solution for all your trading requirements.
The platform prioritizes user experience, offering a smooth trading environment equipped with advanced charting tools, diverse indicators, and thorough analysis options.
With a strong emphasis on security, Eightcap utilizes robust encryption maintains segregated client accounts to protect your funds. In 2020, Eightcap was recognized as the Best MT4 Forex Broker,
underscoring its dedication to customer satisfaction.
Their responsive and knowledgeable customer support team is available through various communication channels, ensuring assistance at every stage of your trading journey. Additionally,
Eightcap offers valuable educational resources, including tutorials and market analyses, empowering traders at all levels to improve their skills and make informed choices.
While it's essential to explore other trading platforms and fee structures, Eightcap consistently emerges as a trustworthy option for those seeking a fulfilling trading experience.
Step into the trading world with Eightcap where your success is their top priority!
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Effortless and swift account opening
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Provides an extensive range of more than 200 cryptocurrency, CFD, options
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Free deposit and withdrawal
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Low forex fees
Overview
Year founded
Minimum deposit
Withdrawal fee amount
Available Offerings
Platforms available
2009
100$
0$
Forex, CFD, Crypto
Desktop, Mobile, Web
Account Opening
Opening an account on Eightcap is an effortlessly and swift process. It is fully digital, and approval usually takes one day. The minimum deposit of $100 is relatively low compared to other brokers. The entire process, from online application to verification, takes approximately 10 minutes for the application and up to a day for verification. There are three steps to open an Eightcap account,Provide contact information, such as your name and email address. Verify your email by clicking on the link sent by Eightcap. Fill in personal details, including your date of birth and address. Select an account type (Standard,Corporate) and base currency. Verify your identity and residency by uploading a copy of your passport or ID, as well as a bank statement or utility bill. Once your account is verified, you can start trading by depositing the required minimum amount.
Safety
Eightcap is regulated by two financial authorities, including the top-tier ASIC, which however does not provide any investor protection, only negative balance protection. There is also no public information on the broker's financials available. Eightcap is regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). Depending on your country of residency, your account will be regulated by one of the two financial authorities. Australian Securities and Investments Commission (ASIC) and Vanuatu Financial Services Commission (VFSC). Established in 2009, Eightcap is headquartered in Australia.
Risk Disclaimer
Trading securities carries a significant level of risk. When it comes to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is substantial exposure to various risks. These risks include, but are not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility. They can have a significant impact on the price or liquidity of a currency or related instrument. It is important to note that the methods, techniques, or indicators provided in these products may not necessarily yield profits, and there is a possibility of incurring losses. For more information on the risks associated with forex trading, please refer to further resources.
Summary
If you're in search of a broker that offers MetaTrader 4-5 with competitive forex fees and a hassle-free account opening process, we highly recommend Eightcap. One notable advantage is that the broker doesn't charge any fees for deposits and withdrawals, ensuring a user-friendly experience.
However, it's worth noting that Eightcap's product range is somewhat limited, primarily focusing on CFDs, forex, and cryptos (specifically for MT5 clients). As a result, there are certain challenges that Eightcap needs to overcome to establish itself as a leading MetaTrader broker, including expanding its offering across a broader range of markets.