EightCap is a major forex broker and has received a lot of praises from Intelligence Commissioner users. They have established themselves as an industry leader.
EightCap has established itself as a top forex and CFD broker because to its diverse variety of offers and dedication to providing a secure and user-friendly trading environment. EightCap meets the demands of both rookie and expert traders, offering regulatory monitoring from various tier-1 authorities, a comprehensive array of tradable assets, innovative trading platforms, competitive spreads, and substantial training materials.
We suggest working with a trustworthy broker with specialized staff, latest tech and most importantly, customer-centric trading conditions. After reviewing 1000+ brokers, we rank the following company as the best:
Key Takeaways
Is EightCap Regulated? Do They Have a License?
In the competitive world of forex and CFD trading, finding the appropriate broker is critical for traders of all levels. EightCap, a regulated forex and CFD broker, is noteworthy for its strong regulatory monitoring, diverse portfolio of tradable assets, advanced trading platforms, and other distinguishing qualities. This article delves further into EightCap’s offerings, demonstrating why it has become a popular choice among traders.
A broker’s regulatory status is one of the most important aspects in determining its reliability and trustworthiness. EightCap is overseen by several tier-1 regulators, including the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA) in the United Kingdom, and the Cyprus Securities and Exchange Commission (CySEC). These regulatory agencies are known for their demanding standards and thorough oversight, which ensures that EightCap’s operations are transparent, secure, and fair.
The ASIC is well-known for its tough compliance rules, which require brokers to keep adequate capital and adhere to stringent operational protocols. Similarly, the FCA in the United Kingdom is one of the world’s most regarded financial regulatory authorities, with rigorous laws in place to safeguard investors. CySEC, although covering the Cypriot market, adheres to European Union financial directives, providing an additional layer of protection and compliance.
This multi-jurisdictional regulation gives traders a sense of security and trust, knowing that their investments are covered by some of the world’s most reputable financial regulatory regimes. The existence of these regulating agencies ensures that EightCap maintains high ethical and professional standards, providing traders with a secure trading environment.
Checking the regulatory status of a forex broker is essential. However, there are multiple tiers of regulation as well.
Some popular regulatory authorities include FCA and CFTC.
Whether its EightCap or another forex broker, it’s best to check if they are regulated by one (or more) of these authorities:
Commodity Futures Trading Commission (CFTC) – United States:
The CFTC is an independent agency of the U.S. government that regulates the futures and options markets. It also oversees the forex market, particularly ensuring the integrity of transactions and protection against fraud and manipulation.
National Futures Association (NFA) – United States:
The NFA is a self-regulatory organization for the U.S. derivatives industry, including on-exchange traded futures, retail off-exchange foreign currency, and OTC derivatives. It ensures that every firm or individual conducting futures and forex business with the public must be registered and must comply with strict standards.
Financial Conduct Authority (FCA) – United Kingdom:
The FCA is a financial regulatory body in the UK that oversees financial markets, including forex. It ensures that financial markets operate with integrity and that consumers are protected.
Australian Securities and Investments Commission (ASIC) – Australia:
ASIC is an independent Australian government body that acts as Australia’s corporate regulator. It oversees financial markets and services, ensuring that financial markets are fair and transparent, and it also regulates forex brokers.
Financial Services Authority (FSA) – Japan:
The FSA in Japan oversees banking, securities, and exchange, as well as insurance sectors to maintain the stability of Japan’s financial system. It regulates forex trading and brokers to ensure the protection of investors.
Swiss Financial Market Supervisory Authority (FINMA) – Switzerland:
FINMA is responsible for financial regulation in Switzerland. It oversees banks, insurance companies, and financial markets, including forex brokers, ensuring they operate within a secure and transparent framework.
Cyprus Securities and Exchange Commission (CySEC) – Cyprus:
CySEC is the financial regulatory authority of Cyprus, which is a popular jurisdiction for forex brokers. It supervises and controls the operation of the Cyprus Stock Exchange and regulates forex brokers to ensure compliance with international standards.
Investment Industry Regulatory Organization of Canada (IIROC) – Canada:
IIROC oversees all investment dealers and trading activities on debt and equity marketplaces in Canada, including the forex market, ensuring that firms adhere to high standards of conduct.
Monetary Authority of Singapore (MAS) – Singapore:
MAS is the central bank and financial regulatory authority of Singapore. It oversees various financial institutions and markets, including forex, ensuring they are well-regulated and stable.
Financial Sector Conduct Authority (FSCA) – South Africa:
The FSCA is responsible for market conduct regulation and supervision of financial institutions in South Africa, including forex brokers, to ensure fair treatment of customers and the integrity of financial markets.
These regulatory bodies play a crucial role in maintaining the integrity of the forex market by enforcing rules and regulations, ensuring transparency, and protecting traders and investors from fraudulent activities.
Checking the regulatory status of brokers like EightCap is quite beneficial. It inspires trust in the brand.
Trading Conditions and Deposit/Withdrawal Methods at EightCap
EightCap provides an exceptional choice of tradable assets to meet the different needs of traders. The broker offers over 200 financial instruments, including forex, cryptocurrencies, equities, indices, and commodities. Forex traders can choose from a wide range of major, minor, and exotic currency pairs. This diversity enables traders to take advantage of the forex market’s depth and liquidity, as well as trade on global economic events and currency movements.
EightCap also outperforms many other brokers in the cryptocurrency market, with a diverse range of cryptocurrency pairs. This wide cryptocurrency offering enables traders to engage in the dynamic and fast expanding cryptocurrency market, taking advantage of its high volatility and potential for big gains. For individuals interested in equities, EightCap offers shares in leading corporations from significant worldwide marketplaces, allowing traders to participate in particular companies while diversifying their portfolios.
The broker also allows for trading on famous indices like the S&P 500, NASDAQ, and FTSE 100. These indexes indicate the performance of major worldwide economies, and trading on them enables traders to speculate on the overall market performance rather than specific equities.
Additionally, EightCap provides a variety of commodities such as gold, silver, oil, and agricultural items. Commodities trading can offer chances to hedge against inflation and market volatility. This broad asset variety enables traders to diversify their portfolios and explore new markets, thereby improving their trading techniques and possible profits.
EightCap offers its clients access to some of the industry’s most modern and popular trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView integration. MT4 is well-known for its user-friendly interface, powerful charting tools, and automated trading capabilities via Expert Advisors (EAs). These characteristics make it an ideal alternative for both new and seasoned traders, as it includes tools for technical analysis and automated trading.
MT5, the successor to MT4, includes more periods, enhanced charting capabilities, and integrated economic calendars, making it ideal for more advanced trading methods. MT5 now contains a wider selection of order types and enhanced trading functions, giving traders greater freedom and precision in their trading activity. With the connection with TradingView, traders can utilize its comprehensive charting tools and social trading capabilities to study markets and share insights with a trading community.
TradingView is well-known for its extensive charting features and the ability to follow other traders and share trading ideas, making it an invaluable tool for collaborative trading and market analysis. These systems cater to both new and seasoned traders, offering the tools necessary for effective market analysis and execution.
One big advantage of trading with EightCap is the competitive spreads it provides, notably through its Raw Account. Tight spreads are important for experienced traders since they can have a major impact on trading costs and profits. The Raw Account has some of the industry’s lowest spreads, starting as low as 0.0 pips. This, paired with cheap commission charges, makes EightCap an appealing option for traders looking for affordable trading circumstances.
Tight spreads lower the cost of entering and leaving deals, allowing traders to retain more of their profits. This is especially crucial for high-frequency traders and scalpers, who execute a large number of trades in a short period. EightCap reduces trading costs, allowing traders to adopt diverse trading methods more effectively. Furthermore, competitive spreads can improve the entire trading experience by allowing for more precise pricing and lowering the chance of slippage during volatile markets.
Leverage is a useful instrument in forex and CFD trading, allowing traders to manage larger positions with less cash. EightCap provides leverage of up to 1:400, allowing traders to possibly maximize their trading capital. This high leverage can increase prospective returns on investment, allowing traders to capitalize on market opportunities with a lower starting outlay.
However, while greater leverage can improve the possibility for profit, it also increases the chance of loss. Traders must utilize leverage appropriately and fully grasp the hazards involved. When trading with high leverage, it is critical to use proper risk management tactics such as stop-loss orders and adequate position sizes. EightCap’s high leverage options provide traders the freedom to choose the level of risk and reward that best fits their trading style and objectives.
The currency market is open 24 hours a day, five days a week, allowing for continual trading opportunities. EightCap assures that traders may take full advantage of these round-the-clock trading hours Monday through Friday. This 24-hour market access is especially useful for traders who require flexibility and the capacity to react to market movements at any time of day or night.
Global events and economic news can have a huge impact on the currency market, providing trading possibilities throughout the day and night. EightCap provides 24/5 market access, allowing traders to react to these events in real time and capitalize on market moves as they occur. This flexibility is especially beneficial for traders in different time zones and those who like to trade outside of normal business hours.
Low minimum deposit
Accessibility is an important concern for many traders, especially those who are new to the market or want to start with a little investment. EightCap has a comparatively modest minimum deposit of $100, making it available to a wide spectrum of traders. This low entry barrier enables more people to join in forex and CFD trading, including novices and experienced traders wishing to test new techniques with a lower initial investment.
A low minimum deposit allows traders to begin trading with a little financial commitment, allowing them to gain experience and confidence without risking big quantities of money. It also makes EightCap an appealing choice for anyone looking to diversify their investing portfolio or experiment with new trading tactics. By decreasing the financial barrier to entry, EightCap enables more people to participate in the exciting world of forex and CFD trading.
EightCap is devoted to assisting its clients on their trading journeys by providing a range of instructional tools. These include daily trade ideas and professional trading insights designed to help traders develop their skills and keep current on market movements. The broker’s teaching materials include a wide range of topics, from basic trading concepts to sophisticated methods, and are suitable for traders of all experience levels.
Educational tools are essential for traders who want to expand their expertise and develop good trading tactics. EightCap’s offerings include webinars, tutorials, articles, and market research, giving traders the knowledge they need to make sound judgments. Daily trade ideas and insights from professional traders can also assist traders identify prospective chances and fine-tune their trading strategies. EightCap’s comprehensive instructional offerings enable its clients to become more knowledgeable and confident traders.
Another important part of a positive trading experience is the ease with which funds and withdrawals are processed. EightCap accepts a variety of deposit and withdrawal methods, including PayPal, wire transfers, and credit cards. This flexibility means that traders from various regions can find simple and secure ways to manage their funds. Furthermore, the broker’s fast processing times for deposits and withdrawals improve the entire trading experience.
Multiple funding alternatives allow traders to choose the approach that best meets their needs and preferences. Whether it’s the speed of credit card transactions, the global reach of wire transfers, or the ease of PayPal, EightCap makes it easy for traders to deposit and withdraw funds. Efficient processing times also ensure that traders may access their cash fast, allowing them to take advantage of market opportunities without excessive delays.
In recent years, cryptocurrency has grown in prominence as a trading asset class. EightCap capitalizes on this trend by offering a wider choice of cryptocurrency pairs than most other brokers. This wide cryptocurrency offering enables traders to engage in the dynamic and fast expanding cryptocurrency market, taking advantage of its high volatility and potential for big gains.
Cryptocurrencies such as Bitcoin, Ethereum, and Ripple have emerged as prominent players in the financial markets, appealing to both individual and institutional investors. EightCap’s complete cryptocurrency solutions allow traders to capitalize on the price changes and trading opportunities in this burgeoning market. EightCap’s access to a diverse choice of cryptocurrency pairs enables traders to diversify their portfolios and explore new investing opportunities in the digital asset industry.
The broker’s high leverage choices, 24/5 market access, minimal minimum deposit restrictions, and different funding ways all add to its attractiveness, making it an accessible and adaptable alternative for traders globally. Furthermore, its significant emphasis on cryptocurrencies distinguishes it from many competitors, giving traders numerous possibilities to investigate this expanding sector.
For traders seeking for a dependable and well-regulated broker with a wide range of trading instruments and advanced tools, EightCap is an unbeatable choice. Its dependability, competitive trading conditions, and support resources make it an attractive broker for anyone wishing to enter the exciting world of forex and CFD trading.
You should always check the trading conditions of a forex broker.
That’s primarily because they have a direct impact on your potential returns. Moreover, each forex broker such as EightCap has distinct trading conditions.
A major part of checking the trading conditions of a broker is to verify their deposit and withdrawal methods.
In the case of EightCap withdrawal, you can see that there are multiple options available.
It makes them accessible to traders. Furthermore, it ensures that people can trade freely.
Some major aspects to keep in mind are:
1. Spreads:
- Fixed Spreads: These remain constant regardless of market conditions. They are generally higher than variable spreads but provide predictability in trading costs.
- Variable (Floating) Spreads: These fluctuate based on market volatility and liquidity. They can be lower than fixed spreads during normal market conditions but can widen significantly during high volatility.
2. Leverage:
- Leverage allows traders to control a larger position with a smaller amount of capital. It is expressed as a ratio (e.g., 100:1, 200:1). Higher leverage can amplify both potential profits and potential losses.
3. Margin Requirements:
- Margin is the amount of money required to open a leveraged position. Brokers set margin requirements based on the leverage ratio. For example, with 100:1 leverage, a $1,000 position would require a $10 margin.
4. Minimum Deposit:
- The minimum amount required to open an account varies by broker. Some brokers offer accounts with no minimum deposit, while others may require hundreds or thousands of dollars.
5. Trading Platforms:
- Brokers provide various trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and proprietary platforms. The choice of platform affects the tools, charts, and features available to traders.
6. Execution Methods:
- Market Execution: Orders are executed at the best available price in the market. There may be slippage, especially during high volatility.
- Instant Execution: Orders are executed at the price shown on the platform. If the price changes before execution, the order may be rejected (requote).
Keep in mind that shady forex brokers stop making payments and keep the money to themselves. Hence, you should always check the broker reviews to see if the broker’s payment methods work properly.
We recommend working with a reliable and trusted broker.
EightCap Customer Service: Do They Handle Complaints Well?
Good customer service is vital for any trader.
You should always check if a forex broker remains accessible to its customers and whether it offers multiple contact channels or not.
The most popular ways for recent customers are live chat and email.
While email is becoming a bit obsolete, it is still among the most common methods for a customer to contact the support staff of a broker.
In the case of EightCap, it’s clear that they offer proper customer support with a significant variety of ways to contact them.
According to multiple users, EightCap’s customer support is quite active and responds promptly to general queries and grievances.
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EightCap Reviews: What Do Others Say?
Based on user-submitted reports, most of the EightCap reviews are quite positive.
Customers praise the company for its prompt customer service and trader-friendly conditions.
However, it’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
While EightCap doesn’t seem like a shady broker, many others rely on fake reviews to increase their credibility.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why we recommend doing extensive research on forex brokers before finalizing your selection.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of EightCap, however, we noticed that their reviews are legitimate.
Unlike their competitors, it seems EightCap has put in a lot of resources into providing its traders with specialized customer service. This way, their customers remain happy and satisfied with their experience.
Also, we didn’t notice many significant EightCap complaints. However, if you have any EightCap reviews to share, feel free to contact us or share them in the comment section.
You should always look out for consumer complaints. The most common complaints in forex are usually regarding:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about EightCap? You can share your complaint in the comment section or submit an anonymous tip.
Is EightCap Legit Or a Scam?
EightCap is a regulated entity. They are licensed and operate under the watch of a major financial regulator.
So, it’s clear that EightCap is a legit forex broker.
You should avoid working with unregulated brokers. The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind the unregulated broker can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
However, that’s not the case with EightCap. It’s clear in our EightCap broker review that they are a legitimate entity and enjoy a positive reputation in the market.
Can You Trust EightCap?
All the evidence suggests that EightCapis legit. However, we recommend checking out more options before finalizing your choice.
That’s why we recommend working with a trusted broker. That way, you can avoid any hiccups and be certain of their reliability.
Frequently Asked Questions
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How Forex Scams Work
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