Yes, Eightcap accepts Nigerian-resident traders via its three international subsidiaries (Bahamas, Seychelles, St.Vincent and the Grenadines). Eightcap has stood the test of time, with an exceptional regulatory track record and a reputation as a cutting-edge and trustworthy multi-asset broker. The broker typically asks several questions and seeks documents for first-time customers to comply with KYC and AML laws. Customer support at Eightcap is responsive and available via live chat, email, and phone during 24/5 market hours. Trading Forex and other financial instruments involves significant risk of loss and is not suitable for every investor.
Account base currency
For our top picks among trading apps, read our guide to best forex trading apps. Overall, Eightcap is slightly more expensive than the lowest-cost forex brokers. It also offers the popular TradingView platform, and other third-party resources. Yes, both MT4 and MT5 support Expert Advisors (EAs) for automated trading, and VPS services enhance stability. Funds can be deposited via credit/debit cards, bank transfers, e-wallets (PayPal, Skrill, Neteller), and cryptocurrencies.
The demo accounts offer a simulation of real-time trading conditions, complete with unlimited virtual funds. This setup is ideal for users looking to explore trading strategies and familiarise themselves with the MT4 and MT5 features without the inherent high risk of losing real money. From our experience, registering for an Eightcap demo account is more thorough than with other online brokers, needing details like email, address, and trading intentions, but not payment information. Among Eightcap’s key advantages are support for the popular MetaTrader 4 and MetaTrader 5 platforms, more than 800 trading instruments including currency pairs, indices, stocks, commodities, and cryptocurrencies. The broker also offers integration with TradingView, which expands capabilities for analysis and trading automation.
So far customer service was good
We analyze key tools and features important to forex and CFD traders and collect data on commissions, spreads, and fees across the industry to help you find the best broker for your needs. Eightcap maintains a solid reputation among traders, with high ratings on platforms like Trustpilot and the App Store. Users frequently commend its user-friendly platforms, competitive spreads, and responsive customer support. However, some concerns have been raised regarding withdrawal delays and execution speeds. For beginners, Eightcap Labs provides structured learning paths with content tailored to foundational concepts.
Can I withdraw all my money from Eightcap?
Additionally, Eightcap does not offer any real stocks or cryptocurrencies; it offers eightcap broker review only forex and derivatives. Eightcap has achieved an average rating of 2.1 out of 5 on Forex Peace Army (FPA). We’ve observed numerous brokers on FPA, and most brokers tend to have lower ratings. There is a complaint that FPA does not approve all positive reviews and only approves negative ones for the sake of their business. To understand the real reviews, traders should focus on the content of the reviews. While you should consider these reviews as part of your research process, you shouldn’t make decisions based solely on them.
Eightcap Trading Platforms
The company positions itself as a reliable provider with competitive trading conditions and targets both beginner and experienced traders. Eightcap offers multiple ways for customers to deposit and withdraw their funds. The available deposit methods are bank wires, credit/debit cards, BPAY, China UnionPay, Skrill, Neteller, cryptocurrencies, PayPal, Worldpay, FasaPay, PSP Virtual Account, and Pay Retailers. The debit and credit card deposit options accept payments in AUD, USD, GBP, EUR, NZD, CAD, and SGD. Eightcap supports MT4, MT5, and TradingView across desktop, mobile, and web, with the desktop clients including the widest range of features.
We should however note that only MT5 is available for clients in the EU and TradingView in the UK. Some may consider this to be a weakness but they are excellent trading platforms in their own right and with MT4 likely to be phased out in future, now is a good time to start using an alternative platform. The broker has expanded its regulatory footprint to include oversight from authorities in Australia, the UK, the Bahamas, and beyond.
Minimum deposit
- The TradingView mobile app packs the most comprehensive technical analysis toolbox.
- Regulated globally, it supports MT4, MT5, and TradingView, making it ideal for both beginner and advanced traders.
- Eightcap was established in 2009 in Melbourne, Australia, and holds an Australian Financial Service License (AFSL) with the Australian Securities & Investment Commission (ASIC).
- These demo accounts are initially valid for a 30-day trial period, but there is an option to request an extension or to make the account permanent if needed.
Such differences in speed may affect traders relying on quick execution, like scalpers or high-frequency traders, where milliseconds matter for trade profitability. I think that MT5 is best suited if you are a trader needing decentralized exchange access (e.g., crypto, DeFi-linked CFDs). Use the calculator below to compare Eightcap’s trading costs with competitors such as Pepperstone, IC Markets and CMC Markets, adjusting for trade size, currency pair, and base currency. Our broker reviews are reader supported and we may receive payment when you click on a partner site. Economic calendar events within Eightcap’s platform, supporting decision-making and market analysis. Platform availability, however, may vary depending on the jurisdictional entity covering your account.
- After trading on both Eightcap’s Standard and Raw accounts, I can confidently say their pricing structure caters to different trading styles, but each has its trade-offs.
- Every trader has their own style of trading and so access to a variety of trading platforms is useful because it allows you to choose the one that best fits your preferred strategies, tools, and experience level.
- This may impact how, where and which companies / services we review and write about.
- If you are a forex and CFD trader looking for a trusted broker, Eightcap can be an ideal choice for your trading journey.
- Eightcap offers flexible trading with a low $100 minimum deposit on all account types, making it accessible to traders of all levels.
- Eightcap supports fast, convenient deposits and withdrawals through Visa, Mastercard, PayPal, Skrill, Neteller, bank transfers, and crypto.
Eightcap offers 800+ trading instruments, including Forex, Commodities, Indices, Shares, and Crypto. It supports popular trading platforms and tools such as MT4, MT5, and TradingView. Eightcap offers flexible trading with a low $100 minimum deposit on all account types, making it accessible to traders of all levels. With diverse account options, both beginners and experienced traders can tailor their trading experience to meet their individual goals and strategies. When it comes to security, Eightcap sets a high bar, regulated by multiple tier-1 authorities, ensuring a trustworthy trading environment for its global customer base. Eightcap traders enjoy a balanced asset selection from the Standard and Raw accounts on the popular MT4 and MT5 platforms.
Trading in forex, stocks, cryptocurrencies, CFDs, indices, and commodities carries a risk of financial loss and may not be suitable for all investors. CFDs are complex financial instruments and carry a high risk of losing money quickly due to leverage. You should carefully consider your investment objectives, experience level, and risk tolerance before deciding to trade any financial instruments..
At DailyForex, we review broker fees by opening live accounts and trading multiple asset classes to assess spreads, commissions, and overall trading costs. We compare each broker’s fees against industry averages for major currency pairs. We also assess deposit, withdrawal, inactivity, and swap fees, rewarding price competitiveness and transparency. Eightcap provides MetaTrader 4, MetaTrader 5, and TradingView for Australian and international clients, with restricted platform access in the UK and Europe.
Withdrawing funds from your EightCap trading account is streamlined and user-friendly. Traders can initiate a withdrawal request anytime via the Client Portal, with EightCap committed to processing these requests within 24 business hours. EightCap offers a variety of deposit methods to accommodate the preferences of traders worldwide. These include traditional options like Visa/Mastercard and Wire Transfer, as well as e-wallets such as PayPal, Skrill, and Neteller. Beyond execution speed, Eightcap’s trade experience is enhanced by its brokerage model and execution method. Operating on a Straight Through Processing (STP) model, Eightcap offers direct market access with no dealing desk intervention.