On-line since: About the company: Eightcap is a forex broker offering over 25 currency pairs, indices and commodities on the MetaTrader 4 trading platform. About company. Safety of funds Eightcap was established in 2009 in Australia. The company underwent significant structural and management changes in 2014-2015. EightCap started anew with two additional offices in London and Shanghai. The headquarters of the company remained in Melbourne, Australia. Eightcap ECN/STP is represented by EightCap Pty Ltd. and regulated by the Australian Securities and Investment Commission (ASIC). ASIC requires licensed financial services providers to meet strict capital requirements: to hold at least $1 million and implement internal procedures of accounting and audits. Besides, regulated entities are required to report regularly to ASIC. The Australian regulator, however, does not include any compensation scheme for investors in case a licensed company becomes insolvent. Trading conditions Eightcap offers its clients several trading accounts. The only difference between the Raw and Standard accounts is the spread’s size. The first account’s spread starts from 0.0 pip; and the second one, from 1 pip. On average, the spread is 1.2 pips on EUR/USD. Traders are required to deposit $100 in order to open an account with EightCap. There are 40 assets to choose from: currency pairs, CFDs, gold, silver and crude oil. EightCap provides leverage ratios up to 1:500 on both accounts. Hedging, scalping and expert advisors are also allowed. In addition, a MAMM/PAMM account allows traders to maintain several accounts at the same time and place trades simultaneously on all of them. Demo account is available. Trading platforms EightCap supports the most widely used MetaTrader 4 (MT4) platform. It is available for PC, Mac, and mobile devices. MT4 provides all the tools and resources a trader needs: a number of technical indicators, advanced charting package, a wide range of Expert Advisors, and testing environment for them. What is more, this broker has partnered with Myfxbook to offer AutoTrade – a platform that enables clients to track, compare, analyze, and share their trading activities and copy deals of any top successful traders. In order to use the AutoTrade service, the minimum deposit must be at least $1,000. Education Eightcap offers a host of different educational materials. Basic introduction to forex trading is offered in textual form. Topics like ‘What is Forex,’ ‘Margin Trading’ etc. are offered to all viewers. Seminars or webinars are not conducted. Unfortunately, the broker does not offer news reports and analytical materials. Neither there was an economic calendar or calculator. Support service Traders can access the Eightcap support center in any of their three offices (in Melbourne, Shanghai and London) via telephone. Clients can also contact the support service 24/5 by email or live chat. The broker’s website is available in English and Chinese. Payment Methods Clients can use several methods to deposit their trading accounts including credit/debit cards, wire transfer as well as e-wallets Poli, Skrill, Bpay, and Moneybookers. Withdrawals are made using the same method as the deposits. Debit/Credit card refunds can take 3 – 20 business days from the date of processing. Trading is available in the following currencies: USD, AUD, EUR or GBP. Pros:
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I have found a top-class service with Eightcap broker, As the position is always live and EA executed orders in actual positions, overall I did not get any slippage or re-quotes. Also, I have found the analysis or their expert's signals, which are highly [profitable to me. I have made a profit of $659. So I would like to say, that I haven't faced any issues with Eightcap so far.
Royal Pip has given me an accurate position on their platform. My order executed perfectly and all deals didn't get a slippage or re-quotes. Besides, I prefer their tight spread, which is the best option for scalping trade. Also, I've found the best technical or fundamental analysis. I have earned $870 and I have withdrawn all money so far. My opinion is Royal Pip is perfected and trusted for investment.
Eightcap is the most untrustworthy broker in the forex market. I put around 35 trades and made a profit with my EA but they disabled my EA. After that, they blocked the profit. I managed to chat with their live support and told them about this issue but they asked me to send an email to explain the same thing. I already did what they said but my email still has not been answered. My advice to everyone, never trade with Eightcap. They are not a reliable broker.
Eightcap site is very well designed and easy to use. As fairly new to forex, I have started out quite slow. However, Eightcap I have found has made it easy for me to feel comfortable. They offers a unique bonus for traders. Also I joined their referral program by recommending some traders late last year and got the reward money.
The account registration at Eightcap is affordable. The problem is that the broker charges high trading fees. Even with the deposit and withdrawal transactions, the broker still charges large fees.
I would not recommend this broker. I almost forgot, it will take ages before you will get your money. Slow response customer support. Nothing that I got from this unprofessional broker. They do not provide any assistance for their traders . I think they're running away. I was trading with this broker but compared to other ones, it's not profitable. There is no platform that can help me adjust trading strategies. I am very sorry to open an account at Eightcap.
Eightcap platform is perfect for me, where I have found low spread and instant execution on the MT4 platform. Besides the platform has many technical and charting tools, which helps me to make a decision. I have made $621 profits so far and I haven't any harassment to withdrawal my profit via Skrill, all request proceed within a few hours. Really I am a satisfied trader with Eightcap broker.
Eightcap is not the best broker I have tried. Their platform works decently but you should not use it during high volatility because you will only end up losing trades. If you prefer trading on news announcements, then this broker is not for you. This is not good for scalping as well because of their wide spreads.
Very trusted broker
There are many reasons to trading with Eightcap. They offer good services, almost all products I trade and excellent support. I am with Raw account with them and no complains with the prices and spreads at all.
Joined these guys three weeks ago trading on MT5. Have been trading through MT4 for the last 2 years but eventually have made the move to MT5 to access some different instruments as well as some new tools. Can't reccomend the move more highly! As for 8cap, they've been helpful in getting me set up and no issues finding a few smart positions on EUR/USD recently. Will let you guys know more once I've spent some more time with these guys.
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