About the company
Eightcap is based in Melbourne, Australia, and was created in 2009. The Australian Securities and Investment Commission (ASIC) and the Vanuatu Financial Services Commission both regulate the corporation (VFSC).
The company has expanded swiftly, with offices in the United Kingdom, Bulgaria, China, and Thailand, among others, and a huge multilingual customer support team based in the United Kingdom, Bulgaria, China, and Thailand.
Trading Forex, Indices, and Commodities online are simple with the award-winning MT4 platform. This is a wonderful all-in-one platform with a sophisticated UI, automated trading features, and a comprehensive charting package.
MT5 is a sophisticated trading platform that allows you to trade currencies, indices, stocks, commodities, and cryptocurrencies. MT5 can be downloaded for Windows, Mac OS X, and Linux.
For web traders, the company also offers an MT5 version. The online platform, which can be accessed directly from the broker’s website, has the same set of functions as a desktop download. It’s a simple and quick approach to get into the markets.
The broker has created an intriguing automatic trading technology that allows clients to program instructions in plain English, such as buying £ 1,000 per US dollar at 3:30 p.m. EST on Tuesday. It’s never been easier for beginners to construct automatic trading strategies thanks to a user-friendly dashboard and step-by-step tutorials. Traders can create simple and complicated algorithms for free without needing to know how to program them. Capitalise.ai also has a large library of pre-programmed methods that customers may try out risk-free or tweak to their liking before getting started. To learn more, watch the video below.
There are two types of accounts offered by the broker:
- Standard – This is a good place to start if you’re a beginner.
- Raw – Only experienced traders should use this option.
For both account types, a minimum deposit of AU $ 100 is required, as well as a minimum trade size of 0.01 and maximum leverage of 1:30 for Australian clients and 1: 500 for non-Australian clients. The key distinction between the two accounts is that the standard account has no costs, whereas the initial account fee is AUD 3.50 per standard lot. In addition, the regular account has five base currencies as opposed to four.
The broker provides a good demo account that can be set up on the internet. Users have unlimited virtual funds and identical trading conditions as if they were dealing with real money, including the same price flow. Please note that demo accounts are set to expire after 30 days, but this can be extended upon request.
Clients can trade on the following:
- Currencies – Trade 40 major, minor and exotic Forex pairs.
- Stock CFDs – Trade 250 of the most popular US and Australian companies.
- Index CFDs – Trade the 10 most popular indices.
- Cryptocurrency CFDs – over 250 crypto pairs, cross pairs, and indices
- Commodities – Trade CFDs on gold, silver, and oil.
Spreads and commissions
- Spreads range from 0 pips for major currency pairings (Raw Account) to 0.5 pips for big indices like the SPX500.
- Gold and silver spreads begin at 1.0 pips and 0.5 pips, respectively, while oil spreads are about 1.0 pips.
- Keep in mind that cryptocurrencies are extremely volatile instruments; the BTC spread might be as low as 20 pips at times. It has recently surpassed the 30-point mark.
- Spreads tend to expand during high-volatility trading hours or during less liquid day times (as the day changes).
- On a Raw account, commissions are $ 3.50 per standard lot, and swap rates apply to overnight currency trading.
There are several options for fast payment in 7 main currencies, all transactions are carried out through the client portal:
- Bank transfer – 1-3 business days.
- Credit / Debit Card – Instant Deposit. No fee
- China UnionPay – Instant deposit. No fee
- Skrill – 1-2 business days. No fee
- Neteller – Instant deposit. No fee
Users can withdraw profit for using all of the above methods by filling out the request form through the Client Portal. Withdrawals should be processed within 24 hours, according to the broker. It normally takes 2-5 business days for a transaction to clear.
The company’s goal is to create a welcoming environment for MT4 and MT5 traders. Both novice and seasoned traders can benefit from the broker’s excellent training program. Regular market updates, the trading week ahead, CFD and Forex analytics, MetaTrader instructions, and trading strategy advice are all included. Trading Tools: Users will be able to automate their transactions without needing to know how to program them. Users will get access to automation and analytics capabilities.