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Eightcap Review

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Eightcap broker review: Unbiased Analysis & Expert Opinion

This Eightcap broker review provides an unbiased analysis of the platform’s offerings, helping potential traders make informed decisions. Eightcap, while offering a range of trading options, presents a mixed bag when compared to industry leaders.

Eightcap Trading Assets

Eightcap broker review

Eightcap’s offering of investments, with 45 forex pairs and approximately a dozen CFDs, falls below the industry average. This section details the available trading instruments.

  • Forex Trading (Spot or CFDs): Yes
  • Tradeable Symbols (Total): 326
  • Forex Pairs (Total): 45
  • U.S. Stock Trading (Non CFD): No
  • Int’l Stock Trading (Non CFD): No
  • Social Trading / Copy Trading: Yes
  • Cryptocurrency (Physical): No

Eightcap Cryptocurrency Trading

Eightcap allows cryptocurrency trading through CFDs. However, it does not support trading of the underlying physical crypto assets. It’s important to note that crypto CFDs are not available to retail traders from any broker’s U.K. entity, nor to U.K. residents.

Eightcap Fees and Commissions

Eightcap broker features, explained visually

Eightcap offers two primary account types across its global entities, including Australia and Vanuatu. The fees and commissions you incur will depend on your choice between the commission-based Raw account and the spread-only Standard account.

For its commission-based Raw account, Eightcap lists an average spread of 0.06 pips. When factoring in the per-side commission of $3.50 per trade, the all-in cost amounts to roughly 0.76 pips. This places it just under the industry average of 0.8 pips, though Eightcap did not provide a date range for its published average spread data. Overall, this Eightcap broker review finds the platform slightly more expensive than the lowest-cost forex brokers.

  • Minimum Initial Deposit: $100
  • Average Spread EUR/USD – Standard: N/A
  • All-in Cost EUR/USD – Active: 0.76
  • Active Trader or VIP Discounts: No
  • Execution: Agency Broker: Yes
  • Execution: Market Maker: Yes

Eightcap Account Types and Trading Platforms

Eightcap account types, detailed comparison

Mobile Trading Apps

Eightcap lacks a proprietary mobile app, which puts it at a disadvantage compared to industry leaders. As an Eightcap broker review, we note that it relies entirely on MetaTrader.

Eightcap is a MetaTrader-only broker, so iOS and Android versions of the MT5 app are standard. Both are available for download from the Apple App Store and Google Play store, respectively.

  • Android App: Yes
  • Apple iOS App: Yes
  • Mobile Alerts – Basic Fields: Yes
  • Watchlists – Total Fields: 7
  • Watchlist Syncing: No
  • Charting – Indicators / Studies (Total): 30
  • Charting – Drawing Tools (Total): 15

Other Trading Platforms

Eightcap enhances the standard MetaTrader platform suite with a range of plug-ins from FX Blue. It also supports integration with Capitalise.ai, enabling algorithmic trading within MetaTrader 4 (MT4) accounts. These additional features improve the MetaTrader experience, though Eightcap did not rank as best in class in 2022.

Eightcap is a MetaTrader-only broker, offering the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platform suite. Recently, Eightcap also introduced the ability for clients to connect their accounts to TradingView, a popular third-party charting platform.

Beyond FX Blue plug-ins, Eightcap provides access to Capitalise.ai. This third-party platform allows users to code automated trading strategies in plain English, eliminating the need for programming knowledge.

  • Virtual Trading (Demo): Yes
  • Proprietary Platform: No
  • Desktop Platform (Windows): Yes
  • Web Platform: Yes
  • Social Trading / Copy Trading: Yes
  • MetaTrader 4 (MT4): Yes
  • MetaTrader 5 (MT5): Yes

Market Research

Eightcap regulations and security, trust factors

Eightcap produces a modest variety of research content, including daily updates in both written and video formats. However, its research offering does not compete with what the best brokers provide. This Eightcap broker review highlights that the research primarily consists of daily written updates from its in-house staff, such as the “Trading Week Ahead” series, complemented by occasional videos on its YouTube channel.

Conclusion

Eightcap MetaTrader 4 interface, user experience

This Eightcap broker review shows that the platform offers a solid, but not outstanding, trading experience. While its MetaTrader integration and additional tools are beneficial, limitations in asset variety, mobile app options, and research quality prevent it from reaching the top tier. Eightcap remains a viable option for traders prioritizing the MetaTrader ecosystem and competitive pricing for its Raw account.

Eightcap MetaTrader 5 capabilities, advanced tools

Eightcap customer support, contact options

Eightcap deposit and withdrawal methods, convenience

Eightcap trading instruments, vast selection

Eightcap spreads and commissions, cost analysis

Eightcap educational resources, learning opportunities

Eightcap mobile trading app, on-the-go access

Eightcap charting tools, technical analysis

Eightcap execution speeds, performance metrics

Eightcap platform customization, personalized trading

Eightcap demo account, risk-free practice

Eightcap user testimonials, real experiences

Eightcap awards and recognition, industry standing

Eightcap review summary, key takeaways

Eightcap pros and cons, balanced perspective

Eightcap for beginners, getting started guide

Eightcap for advanced traders, powerful features

Eightcap overall rating, expert opinion

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Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

Live Trade Room Disclosure:  This presentation is for educational purposes only and the opinions expressed are those of the presenter only. All trades presented should be considered hypothetical and should not be expected to be replicated in a live trading account.

Testimonial Disclosure: Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.

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