What is Eightcap?
Eightcap is an Australian-based online forex and CFD broker that provides trading services for both retail and institutional clients. The broker is known for its competitive spreads and a variety of trading instruments.
When Did It Start Operating?
Eightcap was established in 2009.
Where Is Its Headquarters?
The company is headquartered in Melbourne, Australia.
In Which Countries Is It Restricted?
Eightcap may be restricted in several countries, particularly those with strict financial regulations like the United States and some European nations. Always refer to their official website for the latest information regarding restricted regions.
Advantages:
- Regulation: Eightcap is regulated by the Australian Securities and Investments Commission (ASIC), providing a level of security for traders.
- Low Spreads: Offers competitive spreads, particularly on their RAW account with spreads starting from 0.0 pips.
- Multiple Trading Platforms: Provides access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
- Variety of Account Types: Offers different account types catering to various trading styles.
Disadvantages:
- Limited Cryptocurrency Options: Fewer cryptocurrency trading pairs compared to some competitors.
- Withdrawal Fees: Some withdrawal methods may incur fees.
- Geographical Restrictions: Availability may vary depending on local regulations.
Which Instruments Can I Trade?
You can trade a wide array of instruments, including:
- Forex pairs (major, minor, and exotic)
- Commodities (like gold, silver, and oil)
- Indices (such as the S&P 500 and ASX 200)
- Stocks (shares from various international companies)
- CFDs on cryptocurrencies
What Is the Trading Fee?
Eightcap generally charges spreads, which can start from 0.0 pips on certain accounts. Commission fees may apply for specific account types, particularly the RAW account.
Does It Allow Scalping?
Yes, Eightcap permits scalping, making it suitable for traders who utilize high-frequency trading strategies.
Is There a Trading Platform?
Yes, Eightcap offers both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which provide advanced trading tools and automated trading options.
Is Margin Trading Available?
Yes, Eightcap offers margin trading with leverage options that can reach up to 1:500, depending on the account type and asset class.
