Eightcap Review

Since its incorporation in 2009, Eightcap is an Australian-based brokerage firm specializing in Forex and CFD trading. They have established a reputation for transparent pricing, achieved through competitive variable spreads sourced from top-tier banks and institutions. This is facilitated by advanced technological solutions utilizing Equinix servers. Eightcap caters to both MetaTrader 4 and MetaTrader 5 traders, as well as individuals who are looking to work with TradingView, striving to offer them a customized trading environment. The broker grants traders access to a wide range of popular financial instruments, all executed swiftly and with minimal spreads, utilizing the acclaimed MetaTrader and TradingView platforms.

About Eightcap

Based in Melbourne, Australia, Eightcap is a globally esteemed brokerage firm. Founded in 2009, it is led by CEO Alex Howard. The company offers traders highly favorable conditions, including ultra-tight spreads. Traders also have the flexibility to choose from three distinct account types, accessible via WebTrader, desktop, and mobile versions. The platform facilitates trading across a wide array of instruments, including forex pairs, commodities, indices, shares, and cryptocurrencies. With an experienced management team, Eightcap is driven by a commitment to provide traders worldwide with a superior platform and a steadfast dedication to supporting clients 24/7.

Account Types

Eightcap provides retail and institutional traders with the opportunity to choose between three account types:

• Raw Account Type
  • No restrictions on trading strategy (Scalping allowed)
  • Spreads starting at 0.0 pips
  • Low commission fees (3.5 USD per lot, per side)
• Standard Account Type
  • No restrictions on trading strategy (Scalping allowed)
  • Spreads starting at 1.0 pips
  • No commission fees
• TradingView Account Type
  • No restrictions on trading strategy (Scalping allowed)
  • Spreads starting at 1.0 pips
  • No commission fees

Trading Instruments

Eightcap provides traders with a wide selection of trading instruments, granting them entry into the world’s most popular and liquid financial markets. This ensures access to the finest trading opportunities 24 hours a day 7 days a week.

Trading Platforms

Eightcap offers three trading platforms that could be considered the most popular on a worldwide scale. These platforms are TradingView, MetaTrader 4, and MetaTrader 5, which are all available as desktop and mobile trading platforms, allowing the trader high flexibility of available devices he can operate from.

TradingView

TradingView stands out as a powerful charting platform suitable for traders and investors across various experience levels. In addition to its charting capabilities, it hosts a social network where users exchange ideas, customize scripts to enhance charts and engage in topic-based discussions to share their perspectives. The platform provides access to a professional-grade commercial data feed, facilitating seamless analysis of prices, volume, and historical asset prices. Additionally, it offers fundamental company data, enabling users to screen and track companies that align with their criteria. While primarily designed for technical analysis, TradingView can prove valuable to investors of all kinds.

MetaTrader 4

MetaTrader 4 stands as an advanced trading platform that has established itself as a standard tool for experienced Forex traders, facilitating trade execution even in the absence of an active device. It is characterized by its intuitive user interface, an extensive array of technical analysis tools for prognosticating market trends, live updates on currency prices, and a host of additional features. Noteworthy components of MetaTrader 4 encompass mobile trading capabilities, access to trading signals, and comprehensive financial market insights, all of which serve to elevate and enrich the overall Forex trading encounter. Furthermore, it provides support to traders in more than 30 languages globally, along with three distinct trade execution modes, instant execution, execution on request, and execution on the market.

MetaTrader 5

MetaTrader 5 stands as a robust automated trading platform, providing sophisticated tools for meticulous trading analysis and execution in the realm of financial markets. Beyond its ability in Forex trading, the MetaTrader 5 platform extends its capabilities to trade Stocks, CFDs, and Futures. It boasts a diverse array of order types and execution modes, affording traders the capacity to implement tailored trading strategies even in offline settings. With the capability to simultaneously open up to 100 charts and access 21 distinct timeframes, the platform empowers users to conduct in-depth analysis of price movements, even based on minutes. Additionally, it offers a comprehensive suite of 80 technical indicators and 44 analytical objects, allowing you to enhance your trading experience.

Safety

Eightcap is a broker that was incorporated back in 2009 while also being regulated by several financial authorities worldwide. These include the following four:

• ASIC – Australian Securities and Investments Commission
• FCA – Financial Conduct Authority
• CySEC – Cyprus Securities and Exchange Commission
• SCB – Securities Commission of The Bahamas

Eightcap provides the choice to open a trading account with one or more of its authorized entities, depending on your country of residence. This is a crucial consideration for individuals looking to set up an account with Eightcap, as the degree of investor protection and regulatory oversight differs based on the particular entity you are associated with.

Additionally, Eightcap offers negative balance protection for forex spot and CFD trading.

Customer Support

Eightcap guarantees its clients access to exceptional customer support via live chat, email, and phone. These communication channels are operational 24/7, ensuring assistance is readily available from any global location. Whether you favor direct phone conversations, email correspondence, or real-time chat interactions, Eightcap is committed to delivering outstanding customer support tailored to your individual preferences.

• Live Chat Support

At Eightcap, you will experience top-notch live chat support by being connected with a knowledgeable agent who is ready to provide you with information tailored to your specific needs and questions.

• Email Support

In terms of email support, Eightcap is devoted to providing exceptional customer service. Clients can anticipate receiving detailed responses within a day of making contact, showcasing Eightcap’s dedication to prompt and comprehensive customer care.

• Phone Support

Aside from its exceptional live chat and email support, Eightcap also offers outstanding phone assistance. This ensures clients can count on swift responses to their inquiries within a matter of minutes after reaching out. This dedication to rapid and effective communication further reinforces Eightcap’s commitment to providing top-tier customer service through all available channels.

Exclusive: When Is Using a VPS & Trade Copier Beneficial?

Using VPS and Trade Copier services in financial market operations can prove highly beneficial in specific situations. Before going into specifics, it’s essential to first understand what a VPS and a Trade Copier actually are and the advantages they offer.

VPS

A VPS, short for virtual private server, is a system that houses the necessary software and data for operating an application or website. The term virtual indicates that it utilizes only a fraction of the underlying physical resources of the server, which are overseen by an external provider. Nevertheless, you have exclusive access to your allocated resources on this hardware.

When is Using a VPS Beneficial?

• When trading with Expert Advisors (EAs)
• When trading with multiple Brokers/Proprietary Trading Firms through a Trade Copier
• When trading through a Mac device

Trade Copier

A trade copier is essentially a software tool employed to duplicate trades across numerous trading accounts. It stands out as the most convenient and effective method for simultaneously managing multiple trading accounts, allowing for the execution of identical trades across various trading platforms.

When is Using a Trade Copier Beneficial?

• When trading with numerous Brokers
• When trading with numerous Proprietary Trading Firms
• When looking to spread risk between numerous trading accounts

Why should you connect a VPS and Trade Copier with numerous trading accounts?

As stated above, incorporating a VPS and Trade Copier into your trading activity can provide a wide range of advantages. For example, when pairing them with multiple trading accounts, you can strengthen the benefits they offer to an even larger extent.

Example of connecting five trading accounts, a VPS, and a Trade Copier

By utilizing a VPS server, you’ll ensure yourself a consistently low latency and a robust connection, ensuring uninterrupted operation of your Trade Copier 24 hours a day, 7 days a week. When integrated into your network of trading accounts linked by a Trade Copier, this can lead to substantial improvements in your trading outcomes. This is because you will no longer need to manually execute trades across all your accounts. Instead, simply execute the trade on your Master account, and the Trade Copier will automatically replicate it across all the connected Copier accounts. By employing this approach and configuring specific risk parameters for each linked trading account, you can enhance your risk management for each position, regardless of the current balance available in any of your trading accounts.

Education

Eightcap offers its clients a wealth of valuable educational resources. These include a demo account, an educational calendar, and numerous educational resources, such as the trade zone, labs, webinars, trading week ahead, trading outlook, and trade ideas sections.

• Trade Zone

Eightcap’s Trade Zone is a dedicated educational hub designed to empower traders with knowledge and skills essential for success in the financial markets. This comprehensive resource provides a wealth of curated content, including video tutorials, insightful articles, webinars, and interactive courses. With clear and accessible materials, Eightcap aims to foster a deeper understanding of the markets and enhance traders’ confidence in their decision-making.

• Eightcap Labs

Eightcap’s Labs section is a cutting-edge educational platform designed to equip traders with the latest market insights and analysis. This dynamic section provides a range of research-driven content, including market news, technical analysis, and in-depth reports. With a focus on staying ahead of market trends, Labs offers valuable perspectives on various financial instruments, enabling traders to make informed decisions.

• Events & Webinars

Eightcap’s Events and Webinars section is an important component of their educational arsenal. This platform offers a diverse range of live and recorded webinars, workshops, and seminars conducted by industry experts. These events cover a wide spectrum of topics, from market analysis and trading strategies to risk management and investment psychology. By participating in these sessions, traders gain valuable insights, practical knowledge, and the opportunity to interact with seasoned professionals.

• Trading Week Ahead

Eightcap’s Trading Week Ahead is a crucial resource for traders seeking to plan their strategies effectively. This section provides a comprehensive overview of anticipated market events, economic releases, and key announcements scheduled for the upcoming week. It offers insightful analysis and expert commentary on how these events might impact various financial instruments. By staying informed about potential market movers, traders can make more informed decisions and position themselves strategically.

• Trading Outlook

The Eightcap Trading Outlook is an incredibly useful tool for traders seeking a well-informed perspective on the markets. This section provides a detailed analysis of current market conditions, along with expert insights and forecasts. It covers a wide range of financial instruments, offering traders a comprehensive view of potential opportunities and risks.

• Trade Ideas

Eightcap’s Trade Ideas section is a treasure trove of actionable insights for traders. Here, you’ll find carefully curated trading strategies and market analyses designed to inspire and guide your trading decisions. These ideas cover a diverse range of financial instruments, providing a comprehensive view of potential opportunities in the market.

Conclusion

In conclusion, Eightcap distinguishes itself as a top-tier Forex broker in the industry, leveraging the power of TradingView, MetaTrader 4, and MetaTrader 5 platforms. Their simple account opening process, coupled with competitive trading fees and zero-cost deposits and withdrawals, sets them apart from their competition. The availability of three distinct account types, along with narrow spreads and minimal commission fees, showcases their commitment to providing favorable trading conditions worldwide. Notably, their robust regulatory framework allows users to choose authorized entities based on their country of residence, adding an extra layer of security for those partnered with Eightcap. Furthermore, their extensive range of complimentary educational resources, including sections like the trade zone, Eightcap labs, events and webinars, trading week ahead, trading outlook, and trade ideas, underscores their dedication to empowering traders with essential knowledge. Eightcap’s potential integration of VPS and Trade Copier services, in addition to offering negative balance protection for clients, further underscores their commitment to prudent risk management. In conclusion, Eightcap emerges as a reputable broker dedicated to serving traders of all experience levels, solidifying its position as an excellent choice in the broker industry.