Eightcap is an exciting online broker that offers over 500 different instruments via their industry-leading trading platform. With commission-free trades on the table, it doesn’t get much better than this.
Our latest Eightcap reviews have uncovered an online broker that is ready to push the boundaries of innovation. An improved user experience is assured with a wealth of trading resources, intuitive tools, and a seamless service execution. Keep reading to find out about Eightcap and all that it offers.
Offers And New Customer Experience - No bonus to speak of
It must be noted that our Eightcap review came up empty when looking for a new customer offer. If you are after such a deal, take a look at our latest Multibank review for more. The lack of an offer such as this shouldn’t deter you from the platform though. Bear in mind that this online trading site is established and provides traders with a seamless interface which functions extremely well. Plus, you’ll have access to crypto CFDs. In actual fact, there are over 250 different crypto derivatives on the site! You won’t need to use a wallet either. Sign up with Eightcap, with an extremely straightforward registration process, and start trading crypto CFDs today.
Usability - What is Eightcap and how does the platform function?
The platform is extremely versatile and is highly-responsive. Our Eightcap review found that the broker has also invested heavily in the design and aesthetic feel of the website. Your immediate impression is that this online trading platform is here to do business. It’s visibly appealing and streamlined. We encountered no issues along the way and also noted just how practically put together the overall platform is. Much like in our Plus500 review, we are also impressed with the actual performance of the trading platforms. It’s intuitive and easy to use – making it a go-to for beginners and professionals alike.
Accounts - Two main options to consider
There are two main account types that have been uncovered in our latest Eightcap review. You’ll be able to choose between a Standard and Raw account. The Standard account is commission-free with spreads from 1.0 pips. You can make use of EAs but take note that minimum deposits are capped at $500.
The Raw account is not commission-free. You’ll find that commission is charged at $3.50 per standard lot but minimum deposits ($350) are less than the Standard account minimum. Plus, you can benefit from spreads from as low as 0.0 pips.
Trading Platforms - MT4 and MT5 with peak performance
There are two main platforms to consider; the MetaTrader4 and MetaTrader5 platform. You may be familiar with these as most CFD trading sites will use the MetaTrader platform. There are some key differences between the two. The MT4 platform is great for those looking to trade Forex. It’s available for download on desktop as well as mobile (iOS and Android). You’ll find plenty of innovative features such as price charts with multiple time frames as well as EAs.
The MT5 is a newer model which is available for download on desktop and mobile. But, you can also use the MT5 platform via your web browser. Thus, you needn’t download any software if you don’t want to. There are 38 different technical indicators and you’ll be able to harness the latest news when using the MT5.
Trading Payments - Secure and fast
There are a number of different funding options for existing customers. You’ll have the option of funding your account using online card payments (credit/debit), POLi, bank wire, BPAY, China UnionPay, Skrill, and Neteller. Most deposit options are instant. However, BPAY, Skrill, and bank wire can take several days to clear. YOu won’t pay fees on deposits but should check with your bank if you intend on using bank wire to fund your Eightcap account.
There are 4 withdrawal methods on hand. You can withdraw to your personal bank card, using Skrill or Neteller, or via bank wire. All you need to do is select the option that you prefer before requesting a withdrawal.
Fees – Always double-check swap fees
Our latest Eightcap review is pleased to announce that this online broker doesn’t charge a variety of different fees. You’ll find that you won’t have to pay to download their trading platform. You won’t be charged to make a deposit. However, you will be charged an overnight fee if you hold a position. Known as swap fees, these tend to vary depending on a number of factors.
Once you have set up an account, you can take a look at the Market Watch Panel. Here, you’ll find a full overview of the latest swap fees, giving you control over your overnight positions and making you fully-aware of any interest charges that may come your way.
Customer Service - Round the clock support
It’s always a red flag when you find an online brokerage platform that doesn’t provide full support during operational hours. Fortunately, you’ll find that our Eightcap review has noted this trading platform has 24/5 support while markets are open. You can make use of the live chat function – the most convenient way in which to resolve issues. Alternatively, you can make use of the extensive FAQ section which allows you to answer questions for yourself. It is also possible to contact the Eightcap team via email or telephone. It’s clear that there is sufficient support available at all times.
Regulation and Deposit Insurance - Is Eightcap safe?
Are there any Eightcap scams waiting to happen? We can assure you that this online broker is fully authorised and regulated to provide online trading services. In Australia, Eightcap is regulated by the Australian Securities and Investments Commission. For global customers, you’ll find that this broker is authorised and regulated by the Securities Commission of the Bahamas. All of which means that our Eightcap review can safely underline the reliability and transparency of this platform. This online broker also takes all necessary measures to secure customer funds. Funds are kept in segregated accounts with independent banks.
Additional Features - Making use of added tools and services
Our latest Eightcap review noted the availability of several additional tools and services which make the overall experience that much better. For starters, Eightcap is quick to provide new customers with a comprehensive demo account. This enables you to try your hand on the platform without having to front any capital. It’s one of the best ways to find out if the platform is what you are after.
This broker also provides an exciting new feature which allows traders with no technical skills or know-how to automate their trading. This allows individuals to make informed decisions on trades as precisely and effectively as possible. Watch the latest webinar in order to find out how to get started. In the same breath, there are plenty of additional educational resources which are accessible by all customers.
Overall Conclusion - Our Eightcap review
It’s clear that our Eightcap review has found an online broker which impresses across the board. You have access to a wide number of instruments. Special mention must go to the fact that there are more than 250 crypto derivatives available. The latest Eightcap interface has a great design and makes online trading that much easier. The lack of a new customer bonus shouldn’t really be a consideration as this online platform ticks all the right boxes.
If you wish to find out more about online brokers, take a look at our Blueberry Markets review before you make a decision. At TradersBest.com, we aim to bring you coverage of all the top online trading sites across the globe. Check in with us on a regular basis and you’ll be at the forefront of all the top trading developments.
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