Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same. The reviews by customers of the Eightcap indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings. We work exclusively with the accounts opened through Traders Union. In line with the Australian Client Money Rules and ASIC Regulatory Guide 212, all client funds are maintained on a trust in segregated bank accounts with the National Australia Bank. On the other hand, available products are limited to CFDs, forex and cryptos .Also, clients are not covered by a negative balance protection scheme. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

• In order to be able to use the platform, the account must have a minimum balance of 1,000$.
• CFDs are complex instruments, due to leverage retail accounts lose money.
• This platform enables to track, compare, analyze and share trading activities directly into your trading account.
• Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it.
• Forex trading carries a high level of risk and may not be suitable for all investors.
• EightCap.com offers over 45 forex currency pairs, cryptocurrencies, indices, metals, and commodities for your personal investment and trading options.

This broker did not score well during our testing process and is not recommended by our experts. We strongly suggest choosing a broker that has gained a high score through excelling in all departments instead. To learn more about how we test and recommend brokers, read our methodology. If you are the owner of this platform you can manage this account.

Xm Vs Eightcap Trading Account Types Offered

It is quick and easy to open a trading account with Eightcap. To register a new trading account with Eightcap, visit the website and click on ‘Create Account’ found on the top side on every page.

As with all MetaTrader platforms, MetaTrader 5 on the web is highly customizable. You can easily reposition the windows and tabs to fit your needs. This is not a very user-friendly setup, as MT4 users have to open a new account if they’d like to trade in their browsers.

Well in our FP Markets vs Eightcap side by side comparison we make it easier for you to see what is right for you. As with anything the final decision which broker to trade with should ultimately be based on what and how you going to trade.

As a global broker, Eightcap accepts clients from almost every country. Exceptions include countries like Iran, North Korea and the Republic of the Congo.

I Have Been Using Eightcap For A Long

We all know that customer support can make or break your experience at a broker. Hence, it is a really important criteria for us when it comes to rating these brokers. While the MT4 platform is quite advanced, this should not deter beginner traders. It is still relatively intuitive and you have quick buy / sell functionality right there on the dashboard. There are also a plethora of online guides on how to use it.

These are not physically delivered but are rather derivative instruments that are marked to market every day. Another independent party that can make sure that Eightcap is well covered in terms of liquidity is their auditors. Eightcap uses an independent external auditor that monitors their capital adequacy. They also perform daily client money conciliation on their accounts.

If the balance on your account goes into negative, you will not be protected. BKForex runs market commentary for larger-scale fundamental events for a tiered fee. There are several qualification tiers, with various levels of trading ideas, for more details, press here. There are no trading ideas in the MetaTrader platform available at Eightcap. You can set alerts and notificationson the desktop trading platform, in the form of mobile push and email notifications. To set these notifications, you need to add your email address and mobile MetaQuotes ID (which you can find in the MT4 app’s settings). Similarly to the web trading platform,Eightcap only provides a one-step login.

Deposits & Withdrawals

Negative balance protection is there to protect its customers. Customers do indeed need protecting as trading can be a volatile business and not everybody who invests knows the full consequences of their trade. Stop loss orders are very useful for more volatile investments. Especially when you are speculating on a stock or Forex currency Currencies forex pair. In a normal trade you cannot lose more than what you invested but when you are using leverage this is not the case. Under these terms it is always good to set a stop loss so you can protect yourself from having any vicious results. when trading with either XM or Eightcap you will find Email support is also very useful.

Since the broker is regulated by ASIC, you can also contact the regulated regarding your issue. What is A-Markets I’ve been trading for a couple of years now and have tried out many European brokers.

Review By Yaqub Geelle

Eightcap’s forex fees are low, mostly in line with similar competitors. To have a clear overview of Eightcap, let’s start with the trading fees. Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees. I really enjoyed your website, searching for the best broker for my wishes. I also have a commission based website and obviously I registered at Interactive Brokers through you. You are required to fill the account type, personal details, state the funding source and your trading experience. Next is to accept the terms and conditions and finally upload verification documents.

Established in 2009, Eightcap has one clear mission – to provide an exceptional financial service to its clients. This fundamental principle remains at the core of its business. Eightcap is expanding its brand and currently has offices in Melbourne and Bulgaria. 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. As for 8cap, they’ve been helpful in getting me set up and no issues finding a few smart positions on EUR/USD recently.

Accounts can be opened AUD, USD, GBP, NZD, SGD, CAD, EUR. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. The ‘Trading Strategy’ section contains articles on how to use various indicators.

The economic calendar is part of the tools that are implemented within the MT5 trading platform. This section of the Eightcap website looks at economic events, market news and updates as well as analysts’ comments and predictions. This is prepared by Eightcap’s analysts in three subsections which include market updates, forex news and CFD news. The broker’s websites and servers are protected by a 128-bit Secured Socket Layer .

If you are a new entrant in the realm of trading and brokerage, so many facts will be confusing for you. Getting into the world of trading requires expert analyzing skills and thorough knowledge. You will acquire adept at all the concepts of broker since you keep trading. For starters, you need to select the right agent who’ll be transparent with you constantly.

The XM trading platform has 160 stocks listedwhile Eightcap has 0 stocks listed. Well in our XM vs Eightcap side by side comparison we make it easier for you to see what is right for you.

Xm Vs Eightcap Commission And Fees

For example, a stock might move to an all-time low when you are out. In this instance you would have missed out on some profit. Let’s see how XM vs Eightcap compare side by side for commissions and fees. You should receive plenty of notifications warning you about any potential deadlines and you can make a decision to act accordingly, continuing to use your account https://forexhero.info/ or closing it. Usually the fees are very small so there is no need to be alarmed especially when the problem is easily avoided. Bitcoin is by far the most famous example of cryptocurrency but there are thousands of altcoins that are on the market that have the potential to rise in a similar fashion. Like stock markets if Bitcoin rises, then altcoins follow suit.

Sometimes you might have a more complex question that requires a specific part of the XM or Eightcap support team to give a satisfactory answer to. This is where email support with XM and Eightcap will be needed. If you have an iPhone you will need an IOS Apple mobile trading app. Thankfully these are very common and if a broker has an application, they are almost always available on an iPhone. Well, the stock market sees market movement every second, if you are not near your desktop computer you will probably be near and have access to your phone. This way you will be able to take advantage of all the opportunities present themselves.