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Do you want to know which is the better broker between FXCM and Eightcap ?
In the table below, you can compare the features of FXCM , Eightcap side by side to determine the best fit for your needs.
EURUSD: 1.3
XAUUSD: -0.1
Long: -5.67
Short: 2.69
Long: -48.91
Short: 22.59
EURUSD: 0.9
XAUUSD: 0.5
Long: -6.79
Short: 2.39
Long: -30.25
Short: 9.38
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of fxcm, eightcap lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
FXCM Review Summary in 10 Points | |
Founded | 1999 |
Headquarters | London, UK |
Regulation | FCA, ASIC, CYSEC, FSCA |
Market Instruments | Forex, Shares, Indices, Commodities, Cryptocurrencies |
Demo Account | Available |
Leverage | 1000:1 |
EUR/USD Spread | 1.3 pips |
Trading Platforms | Trading Station, TradingView Pro, MetaTrader 4, ZuluTrade, Capitalise AI |
Minimum deposit | $50 |
Customer Support | 24/5 phone, email, and live chat |
Promotions | Yes |
FXCM is a retail forex broker that was founded in 1999. The company is headquartered in London, UK, but has offices and affiliates in a number of other countries, including Australia, Germany, France, Italy, Greece, Hong Kong, Japan, South Africa, and the United States.
The company provides online trading services in forex, contracts for difference (CFDs), and other financial instruments. FXCM offers various trading platforms including the popular MetaTrader 4 (MT4), Trading Station, TradingView Pro, ZuluTrade, Capitalise AI. The broker provides customer support in multiple languages and offers educational resources and market analysis tools to help traders make informed trading decisions.
FXCM is a retail forex and CFD broker that operates as a No Dealing Desk (NDD) broker. This means that FXCM does not take the opposite side of clients' trades and instead uses Straight Through Processing (STP) to send client orders to liquidity providers in the interbank market. This model is designed to provide traders with faster execution and more transparent pricing. FXCM also offers commission-based pricing, as opposed to spreads, which may appeal to traders who prefer a more transparent fee structure.
FXCM is a well-established and reputable forex broker with over two decades of experience in the industry. Its strengths include its comprehensive educational resources, a wide range of trading instruments and platforms, and a global presence. FXCM also offers competitive pricing and flexible account options, making it accessible to traders of all levels.
However, FXCM's weaknesses include limited deposit and withdrawal options, high fees for certain services, and the potential for slippage during periods of high volatility. Some traders have also reported issues with customer support, particularly in non-English speaking regions.
Pros | Cons |
• Globally and heavily regulated | • US clients are unaccepted |
• Commission-free trading available on Standard accounts | • Limited product offerings beyond forex and CFDs |
• Multiple trading platforms to choose from, including MetaTrader 4 and Trading Station | • Limited educational resources compared to some other brokers |
• Competitive spreads on forex pairs | • Limited research and analysis tools |
• No deposit or withdrawal fees | • Limited customer support availability on weekends |
• Low minimum deposit requirement | • Limited payment options |
It's worth noting that the pros and cons listed above are not exhaustive and may not necessarily apply to every trader's individual experience with FXCM.
Overall, FXCM can be a good choice for traders who prioritize education and a diverse range of trading options, but it may not be the best fit for those who require a specific deposit or withdrawal method, or who prioritize low fees above all else.
FXCM is a legitimate broker with a long-standing reputation in the industry. The company is regulated by top-tier financial authorities, such as the FCA in the UK, the ASIC in Australia, CYSEC in Cyprus and FSCA in South Africa, which ensures that it operates under strict financial and ethical guidelines. FXCM also has a solid track record of handling client funds in a secure and responsible manner.
However, like any broker, there are potential risks involved in trading, such as market volatility and the possibility of losses. It's important to carefully evaluate the risks and benefits before deciding to trade with any broker.
FXCM provides negative balance protection and offers its clients access to segregated accounts, providing additional security measures. More details can be found in the table below:
Protection Measure | Detail |
Regulation | FCA, ASIC, CYSEC, FSCA, ISA |
Segregated Funds | Yes |
Investor Protection | Up to £85,000 |
Negative Balance | Yes |
Financial Audit | Yes |
Insurance | No |
Note: The table only includes a few of the many safety measures that FXCM employs to protect its clients.
FXCM is a well-regulated and reputable broker with a long-standing history in the industry. The company is regulated by top-tier financial authorities and has multiple licenses, demonstrating a commitment to client protection.
However, FXCM has faced regulatory penalties in the past and the company's reputation was negatively impacted. Overall, while FXCM has had some past issues, the broker has taken steps to address them and appears to be a reliable choice for traders.
FXCM offers trading in five major classes of tradable assest, including forex, shares, indices, commodities, and cryptocurrencies, which provides traders with varying interests and strategies a broader portfolio.
There are two types of accounts: Regular Accounts and Premier Accounts. Regular accounts have a minimum deposit of $50 and allow investors to trade up to 39 popular currency pairs and the entire CFD range.
The Premier Account is designed for high-volume investors and requires, firstly, an FXCM account or a new account, a total USD notional trading volume of $10 million per natural month. The account offers investors a range of benefits: exclusive support, premium services, and tailor-made trading solutions.
Aside from real trading accounts, FXCM also offers demo account options. FXCM's demo account, elaborately, provides a realistic trading experience with access to live market prices across multiple asset classes. Traders can receive $20,000 in virtual funds to practice executing buy and sell orders on FXCM's user-friendly trading platform, available 24/5. This risk-free environment enables traders to hone their strategies and gain confidence before transitioning to a live funded account.
FXCM offers several leverage options for trading Forex (FX) and Contracts for Difference (CFDs), depending on the account equity. For equity less than $5,000, traders can access up to 1000:1 leverage for both FX and CFDs. Accounts with equity between $5,000 and $50,000 are eligible for up to 400:1 leverage on both FX and CFDs. Accounts with equity greater than $50,000 can leverage up to 100:1 for FX and up to 200:1 for CFDs. This tiered leverage system allows traders to customize their risk exposure based on their account size and trading strategies, while adhering to regulatory requirements.
The spreads are 1.3 pips for EUR/USD, 2.3 pips for EUR/GBP, and 1.8 pips for AUD/USD. The Premier account offers investors a cashback offers. If a client trades EUR/USD pair and reaches $300 million in notional volume for the month (for the fifth step), then the cashback amount is $25/million, for a total cashback amount of $7,500. The cashback for equity index CFD products ranges from $1 to $3 per million USD.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
FXCM | 1.3 pips | $25/1M traded |
IG | 0.6 pips | No |
Oanda | 0.9 pips | No |
Pepperstone | 0.0 pips | AUD $3.5 / side / 100k traded |
XM | 0.6 pips | No |
Plus500 | 0.6 pips | No |
Note: Spreads can vary depending on market conditions and volatility.
FXCM provides rebates through three channels: Rebate Program, Friends and Family, Accounts Promotions. Account promotions, particularly, gives traders most benefits. To benefit from these promotions, traders simply need to open an account and register for the promotion by filling out the designated form. Upon account activation, making a deposit within 24 hours qualifies traders for the highest bonus of 5%, while those depositing within one month of activation can enjoy a 2-3% bonus. The bonus amount is then credited to the trader's account within 14 business days of the deposit, enabling them to boost their trading capital right from the start.
FXCM offers a comprehensive platform suite designed ffor various trading needs:
Trading Station: Proprietary advanced platform
TradingView Pro: Powerful charting and analysis
MetaTrader 4: Industry-standard user-friendly platform
ZuluTrade: Social trading, copy successful strategies
Capitalise AI: AI-powered automated trading and portfolio management
Overall, FXCM's trading platforms offer a range of advanced features and tools that can appeal to traders of all levels and styles.
Broker | Trading Platform |
FXCM | Trading Station, TradingView Pro, MetaTrader 4, ZuluTrade, Capitalise AI |
IG | IG Trading, MetaTrader4 |
Oanda | Oanda Trade, MetaTrader4, Oanda Web Trading |
Pepperstone | MetaTrader4, MetaTrader5, cTrader, Pepperstone Webtrader |
XM | MetaTrader4, MetaTrader5 |
Plus500 | Plus500 WebTrader, Plus500 Windows Trader |
FXCM welcomes several payment methods, including online banking payments, bank transfers, and other payments. The minimum single deposit for CUP is $100, and the minimum deposit for a credit card or wire transfer is $50. Besides, traders can withdraw funds once a month for free.
The minimum deposit requirement for FXCM varies depending on the account type and the region of the client. For example, in the UK and some other regions, the minimum deposit for a Standard account is £300 or equivalent in another currency, while for the Mini account, it is £50 or equivalent.
However, in some other regions, such as the US, the minimum deposit for a Standard account is $5,000, while for the Mini account, it is $50. It is important to check the minimum deposit requirement for the specific account type and region before opening an account with FXCM.
FXCM | Most other | |
Minimum Deposit | $50 | $100 |
To withdraw funds from your FXCM account, you need to follow these steps:
Step 1: Log in to your FXCM account on the FXCM website.
Step 2: Click on the “MyFXCM” menu and select “Withdraw.”
Step 3: Select the account you wish to withdraw from and choose your withdrawal method.
Step 4: Enter the amount you wish to withdraw and provide any additional information that may be required for your chosen withdrawal method.
Step 5: Review and confirm your withdrawal request.
Step 6: Once your withdrawal request has been processed, you will receive an email confirmation with details of the transaction.
It's important to note that the time it takes for your funds to be withdrawn will depend on the withdrawal method you choose and the processing times of your bank or payment provider.
Apart from spreads and commissions, FXCM also charges overnight fees. Overnight fees, also known as swap fees, are charged for positions that are held overnight.
FXCM does not charge any deposit fees, but there are withdrawal fees depending on the withdrawal method used. For example, bank wire withdrawals are subject to a $40 fee, while credit card withdrawals are subject to a 1.8% fee.
Inactivity fees may also be charged if an account is inactive for a certain period. For example, FXCM charges an inactivity fee of $50 per year if there are no trades or open positions for 12 months.
It is important to review the fee schedule on FXCM's website before opening an account to ensure a full understanding of the fees associated with trading.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
FXCM | Free for most methods | Free for most methods | $50/year |
IG | Free | Free | $18/month |
Oanda | Free | Free | $10/month |
Pepperstone | Free | Free for Australian bank transfer, $20 for international wire transfer | $0 |
XM | Free | Free | $5/month after 90 days of inactivity |
Plus500 | Free | $10 | $10/quarter |
Please note that these fees may be subject to change and may vary depending on your location and account type. It's always a good idea to check with the broker directly for the most up-to-date information.
FXCM offers customer support via phone, email, and live chat 24/5 during market hours. They also have a FAQ section on their website to provide answers to common questions. FXCM provides localized support in various languages and countries, and they have a team dedicated to handling account-related inquiries.
In addition, they offer remote assistance through TeamViewer to assist clients with any technical issues they may encounter. Overall, FXCM is known for their responsive and helpful customer support.
Pros | Cons |
• 24/5 customer support through phone and chat | • No 24/7 customer support |
• Multilingual support | • No local office in some countries |
• Comprehensive FAQ section on the website | • No dedicated account manager |
• Personalized support for VIP clients | • Some clients report slow response times for inquiries |
Note: The above information is based on general feedback from clients and may not be applicable to every individual experience.
FXCM offers a range of educational resources to help traders improve their knowledge and skills. Some of the educational resources available on the FXCM website include:
Webinars: Live and recorded webinars covering a variety of trading topics, including market analysis, technical analysis, and trading strategies.
Video library: A collection of videos covering various trading topics, including trading psychology, chart patterns, and trading platforms.
Trading guides: In-depth guides on various trading topics, including Forex trading, stock trading, and trading psychology.
Forex news: Daily updates on market news and analysis from FXCM's team of experts.
Trading signals: Trading signals based on technical analysis and market trends.
In conclusion, FXCM is a well-established and reputable broker that offers a range of trading instruments and account types with competitive spreads and commissions. The broker's trading platforms are user-friendly and offer advanced features for traders of all levels. Additionally, FXCM provides educational resources and excellent customer support, including 24/5 support in multiple languages.
However, FXCM does have some drawbacks, including the lack of negative balance protection and the high inactivity fee. The broker is also not available in all countries, which may limit accessibility for some traders. Overall, FXCM is a reliable and trustworthy broker that can meet the needs of both beginner and experienced traders.
Q 1: | Is FXCM regulated? |
A 1: | Yes. It is regulated by FCA and ASIC. |
Q 2: | Does FXCM offer demo accounts? |
A 2: | Yes. |
Q 3: | Does FXCM offer industry-standard MT4 & MT5? |
A 3: | Yes. It offers MT4 and Trading Station. |
Q 4: | What is the minimum deposit for FXCM? |
A 4: | The minimum initial deposit to open an account is $50. |
Q 5: | Is FXCM a good broker for beginners? |
A 5: | Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
Trading online carries inherent risks, including the potential loss of your entire investment. It's essential to recognize that online trading may not be suitable for everyone, and individuals should carefully consider their risk tolerance before participating. Additionally, please be aware that the details provided in this review are subject to change as companies update their services and policies. Therefore, it's advisable to verify the most up-to-date information directly with the company before making any trading decisions. Ultimately, the responsibility for utilizing the information in this review lies solely with the reader.
Eightcap | Basic Information |
Registered Country | Australia |
Founded in | 2009 |
Regulation | ASIC,FCA, CYSEC, SCB |
Minimum Deposit | $100 USD |
Trading Assets | Forex, Cryptocurrencies, Indices, Commodities, Shares |
Trading Platform | MetaTrader 4, MetaTrader 5, Webtrader, Tradingview |
Spreads | Starting from 0.0 pips |
Commissions | $3.5 per side per lot |
Leverage | Up to 1:500 |
Demo Account | Available |
Islamic Account | Available |
Deposit Methods | Credit/debit cards, bank transfer, Skrill, Neteller, and more |
Withdrawal Methods | Same as deposit methods |
Customer Support | 24/5 live chat, phone, email support, FAQ section |
Educational Resources | Webinars, Trading Guides, Videos, Economic Calendar |
Bonus Offers | None |
Eightcap is a popular online forex and CFDs broker that offers access to trade various financial markets. The broker was founded in 2009 in Melbourne, Australia, and has since expanded its presence to other regions such as Europe, Asia, and the Middle East. Eightcap prides itself on providing a user-friendly trading experience, robust trading platforms, and competitive trading conditions for its clients.
The broker offers a wide range of financial instruments to trade, including Forex, Indices, Commodities, Shares, and Cryptocurrencies. Clients can access these markets through the popular trading platforms, MetaTrader 4 and MetaTrader 5. The broker also offers two types of account types to suit the individual needs of its clients, including Standard, Raw Spread, with the minimum deposit of $100 for both accounts.
Eightcap also places a strong emphasis on education, offering various educational resources to help traders improve their trading skills and knowledge. These resources include trading articles, video tutorials, webinars, and a comprehensive trading glossary. Lastly, the broker provides a 24/5 multilingual support team to assist clients with any questions or concerns they may have.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.
We will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
Yes, Eightcap is considered a legitimate broker, regulated by reputable financial authorities such as the FCA, ASIC, and SCB. These regulatory bodies impose strict rules and regulations on the broker to ensure they operate in a fair and transparent manner, thereby providing traders with a safe and secure trading environment.
EIGHTCAP PTY LTD, its Australian entity, is authorized and regulated by the Australia Securities & Investment Commission (ASIC) under the regulatory license number 391441.
Eightcap EU Ltd, is regulated by the Cyprus Securities and Exchange Commission (CYSEC) under license no. 246/14.
Eightcap Group Ltd, its UK entity, is authorized and regulated by the Financial Conduct Authority (FCA) under the regulatory license number of 921296.
Eightcap Global Limited, the international entity, is authorized and regulated by the Security Commission of the Bamas (SCB) under the regulatory license number of SIA-F220.
Eightcap is a global forex and CFD broker offering many features and benefits that make it an attractive choice for traders of all levels. One of the primary advantages of Eightcap is its range of trading instruments, including forex, indices, commodities, and cryptocurrencies. This diversity allows traders to take advantage of a wide range of market opportunities and build diversified portfolios.
In addition to its broad range of trading instruments, Eightcap also offers competitive trading conditions, such as tight spreads and low commissions, which can help traders maximize their profits. The broker also provides access to multiple trading platforms, including MetaTrader 4 and 5, as well as a proprietary platform, allowing traders to choose the platform that best suits their needs.
While there are many benefits to trading with Eightcap, there are also some potential drawbacks to consider. One of these is the limited selection of educational resources, which may be a disadvantage for novice traders. Additionally, the broker does not currently offer social trading options, and 24/7customer support.
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Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks.....EightCap allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on EightCap.
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Eightcap offers competitive spreads and commissions on their trading instruments. The spreads on forex pairs start from as low as 0.0 pips on the Raw account and 1.0 pips on the Standard account. The commissions charged on forex trades start from $3.50 per lot round trip on the Raw account and there are no commissions on the Standard account.
For indices, the spreads start from 0.5 pips on the Raw account and 1.0 pips on the Standard account. There are no commissions charged on indices trading. The spreads on commodities trading start from 0.03 pips on the Raw account and 0.5 pips on the Standard account, and there are no commissions charged on commodities trading. The spreads and commissions may vary depending on market conditions and the type of account held by the trader.
The following table compares the spreads on EUR/USD, gold, and popular indices like US 500, UK 100, and AUS 200 offered by four leading brokers: Eightcap, eToro, IC Markets, and Exness.
Instruments | Eightcap | eToro | IC Markets | Exness |
EUR/USD | 0.0 pips (raw) | 1.0 pips (fixed) | 0.1 pips (raw) | 0.1 pips (raw) |
Gold | $0.30 (raw) | $0.45 (variable) | $0.28 (raw) | $0.30 (raw) |
US 500 | 0.4 pips (raw) | 0.75 pips (fixed) | 0.4 pips (raw) | 0.2 pips (raw) |
UK 100 | 1.0 pips (raw) | 1.5 pips (fixed) | 1.0 pips (raw) | 0.6 pips (raw) |
AUS 200 | 0.9 pips (raw) | 1.0 pips (fixed) | 0.5 pips (raw) | 0.6 pips (raw) |
Eightcap charges non-trading fees, which are fees not directly related to trading, such as deposit and withdrawal fees, inactivity fees, and currency conversion fees. For deposits, Eightcap does not charge any fees, but there may be fees charged by the payment provider or bank. Withdrawals made via bank transfers are free, but there is a fee of $10 for withdrawals via credit/debit cards.
Additionally, Eightcap charges an inactivity fee of $50 per quarter if there are no trades or account activity for a period of 90 days or more. It's important to note that this fee is only charged if there are sufficient funds in the account, and it does not apply to demo accounts.
Eightcap also charges a currency conversion fee of 0.5% for clients who deposit or withdraw in a currency other than their account base currency. This fee can be higher for certain currencies, so it's important to check with Eightcap for the exact fee amount. Overall, while Eightcap does charge some non-trading fees, they are competitive with other brokers in the industry.
Live Accounts: EightCap offers three types of accounts at EightCap: Raw, Standard and Tradingview accounts. All require a moderate minimum deposit of 100 USD, which is quite friendly for beginners. Their most relevant differences consist in the spreads, the raw account has a lower spread. Standard and Tradingview accounts offers a commission-free trading environment, yet compensated by wider spreads, while Raw accounts offers raw spreads, accompanied by additional commissions.
The Raw Account is designed for traders seeking tight spreads and transparent pricing. With a minimum deposit of $100, traders can access over 800 instruments with spreads starting from 0.0 pips. However, a commission is charged on each side of the trade, ranging from $3.5 for major currencies like AUD, USD, NZD, SGD, and CAD, to $2.25 for GBP and $2.75 for EUR per standard lot traded. This account type allows scalping and supports a wide range of base currencies, including AUD, USD, EUR, GBP, NZD, CAD, and SGD. The minimum trade size is 0.01 lots, with a maximum of 100 lots.
The Standard Account is designed for traders seeking a more straightforward pricing structure. With a minimum deposit of $100, traders can access over 800 instruments with spreads starting from 1.0 pip. No commissions are charged, making it a cost-effective option for traders who prefer to pay through the spread. Like the Raw Account, the Standard Account allows scalping, supports multiple base currencies, and offers the same minimum and maximum trade sizes, margin call levels, and stop-out levels.
The TradingView Account is a unique offering that integrates with the popular TradingView platform. With a minimum deposit of $100, traders can access over 800 instruments with spreads starting from 1.0 pip and no commissions charged. This account type is suitable for traders who prefer to use the TradingView platform for analysis and trading. Similar to the other account types, the TradingView Account allows scalping, supports a wide range of base currencies, and offers the same minimum and maximum trade sizes, margin call levels, and stop-out levels.
Aside from two types of live trading accounts, Eightcap offers a demo account for traders who want to practice and test their trading strategies without risking real money. The demo account is free and is designed to simulate real market conditions, allowing traders to get a feel for the platform and instruments before they start trading with a live account. The demo account is funded with virtual money and offers access to the same features as the live account, including a range of instruments and trading platforms.
Opening an account with Eightcap is a straightforward process that can be completed in just a few simple steps.
First, interested individuals need to visit the Eightcap website and click on the “Creative Account” button.
From there, you will be directed to a page where you can select the account type they wish to open, either the Standard or Raw account.
After choosing the desired account type, potential clients will be required to provide some personal information, including their full name, email address, and phone number. They will also need to provide proof of identification and residency, which can be done by uploading a copy of a passport or driver's license and a recent utility bill or bank statement.
Once the required information has been submitted and verified, clients can fund their accounts by choosing from one of the available payment methods, such as bank transfer or credit card. After the account has been funded, clients can then start trading on the platform.
Eightcap offers multiple trading platforms, including the popular MetaTrader 4, MetaTrader 5 platforms WebTrader and Tradingview. These platforms are known for their user-friendly interface and advanced charting tools, making it easier for traders to analyze market data and make informed trading decisions. Additionally, Eightcap also provides a web-based trading platform that can be accessed from any device with an internet connection. This platform is ideal for traders who prefer a simpler interface or who don't want to download and install software on their device.
With the MetaTrader platforms, Eightcap offers a range of customizable features, including the ability to use custom indicators and expert advisors. These platforms also provide access to real-time market data and allow traders to execute trades quickly and efficiently. Traders can also use the platforms to set up automated trading strategies, which can be particularly useful for those who want to trade around the clock.
Furthermore, Eightcap's web-based trading platform is designed to offer a streamlined trading experience. It includes essential features such as real-time market news, customizable charts, and advanced order types. The platform also offers access to a range of educational resources, including trading videos, webinars, and tutorials, which can be helpful for new traders looking to improve their skills.
EightCap's Tradingview leverages 15+ customizable chart types, including Kagi, Renko, and Point & Figure. Organize up to 8 synchronized charts per tab and utilize 90+ smart drawing tools for comprehensive analysis.
Broker | Trading Platforms | Desktop | Web-based | Mobile |
Eightcap | MT4, MT5, WebTrader, Tradingview | Yes | Yes | Yes |
eToro | eToro Platform | Yes | Yes | Yes |
Exness | MT4, MT5, WebTerminal, Exness Trader App | Yes | Yes | Yes |
IC Markets | cTrader, MT4, MT5 | Yes | Yes | Yes |
The maximum leverage is determined by the regulator; the maximum ASIC leverage is only 1:30, but the Bahamas SCB allows a leverage of 1:500. However, other trading conditions may vary accordingly and you can decide for yourself.
High leverage is ideal for active traders and scalpers, as it presents greater trading flexibility in general, which directly impacts profitability, but new users are advised to operate with caution with such large leverage.
Eightcap offers a variety of deposit and withdrawal methods to cater to its clients' needs. Clients can deposit funds into their account using various methods, including credit/debit cards, bank transfers, and popular e-wallets like Neteller, Skrill, and FasaPay.
One of the advantages of Eightcap's deposit and withdrawal system is that it supports multiple currencies, including USD, EUR, AUD, GBP, CHF, and SGD. This allows clients from different parts of the world to transact in their preferred currency.
Eightcap does not charge any deposit fees, but clients may incur fees when depositing or withdrawing funds through certain payment methods. For example, bank transfers may incur fees from the client's bank or intermediary banks involved in the transaction.
Clients can withdraw their funds through the client portal area, or contact their account manager to withdraw funds. Withdrawals can be made using the same methods used for deposits, with the exception of credit cards, which can only be used for deposits. It's worth noting that withdrawals can only be made to the same account that was used to make the deposit, in compliance with anti-money laundering regulations.
With their policy of processing all withdrawal requests submitted before 01:00 PM AEST/AEDT Monday to Friday on the same business day, you can expect to receive your funds quickly and without any delays. This is particularly convenient for traders who need to access their funds urgently or simply prefer a broker with fast and reliable payment processing.
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Eightcap offers various educational resources to help traders improve their skills and knowledge in the financial markets. Here are some of the educational resources provided by Eightcap:
Video Tutorials: Eightcap provides a range of video tutorials that cover various trading topics, including technical analysis, trading strategies, risk management, and more. These videos are designed to help traders of all levels learn more about the financial markets.
Trading Guides: Eightcap offers a range of trading guides that cover various financial instruments, such as forex, stocks, indices, and commodities. These guides provide valuable insights into the markets and can help traders make more informed trading decisions.
Webinars: Eightcap regularly hosts webinars on various trading topics, which are presented by industry experts. These webinars are an excellent way to learn more about the financial markets and interact with other traders.
Economic Calendar: Eightcap provides an economic calendar that displays upcoming economic events and announcements that may impact the markets. This calendar can be a useful tool for traders who trade based on news events.
Trading Glossary: Eightcap provides a comprehensive trading glossary that defines various trading terms and concepts. This glossary can be a useful resource for traders who are new to the markets.
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Eightcap's representatives are fluent in several languages, including English, Spanish, Chinese, and Arabic, among others. This ensures that clients from all over the world can receive assistance in their native language, which can be particularly helpful when dealing with complex issues.
In addition to a multilingual team, Eightcap offers several support channels, including live chat, phone, and email. Their live chat feature is available 24/5, which means clients can get instant assistance whenever they need it. Phone support is also available during business hours, and email support promises a response within 24 hours.
In addition, Eightcap has an extensive FAQ section on its website that covers various topics, such as account opening, trading platforms, funding and withdrawals, and trading conditions.
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In conclusion, Eightcap seems like a solid choice for traders looking for a reliable broker with a wide range of instruments, competitive pricing, and user-friendly platforms. Their customer support is also top-notch, with various ways to get in touch and a comprehensive FAQ section. While their educational resources may not be as extensive as some other brokers, they still provide useful tools and market analysis to help traders stay informed. The only potential downside is the lack of proprietary trading platforms, but with MT4, MT5, and WebTrader available, there's still plenty of options to choose from.
Q: Is Eightcap regulated?
A: Yes, Eightcap is regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).
Q: What trading platforms does Eightcap offer?
A: Eightcap offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), and WebTrader.
Q: What are the minimum deposit requirements for Eightcap?
A: The minimum deposit requirement for Eightcap's Standard account is $100.
Q: What is the maximum leverage available at Eightcap?
A: The maximum leverage available at Eightcap is 1:500.
Q: Does Eightcap charge commissions on trades?
A: Eightcap does not charge commissions on trades, but it does charge spreads.
Q: What is customer support like at Eightcap?
A: Eightcap offers customer support via live chat, phone, and email. Its customer support team is available 24/5.
Q: Does Eightcap offer educational resources?
A: Yes, Eightcap offers educational resources such as news and analysis,videos, trading guides, and webinars.
Q: How long does it take to withdraw funds from Eightcap?
A: Withdrawal requests submitted before 1:00 PM AEST/AEDT on business days are processed on the same day. However, the time it takes for funds to reach your account depends on the payment method you use.
Q: Can I open a demo account with Eightcap?
A: Yes, Eightcap offers a demo account that allows traders to practice their trading strategies without risking real money.
Q: What financial instruments can I trade at Eightcap?
A: Eightcap offers a wide range of financial instruments, including forex, indices, commodities, and shares.
Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities. Additionally, the content of this review is subject to change, reflecting updates in the company's services and policies. The review's creation date is also relevant, as information could have become outdated. Readers should confirm the latest information with the company prior to making any investment decisions. The responsibility for utilizing the information provided herein lies exclusively with the reader.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive fxcm and eightcap are, we first considered common fees for standard accounts. On fxcm, the average spread for the EUR/USD currency pair is -- pips, while on eightcap the spread is From 0.0.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
fxcm is regulated by ASIC,FCA,CYSEC,FSCA,ISA. eightcap is regulated by ASIC,FCA,CYSEC,SCB.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
fxcm provides trading platform including -- and trading variety including --. eightcap provides trading platform including Raw,Standard and trading variety including --.