Losses can exceed deposits
Like most brokers, Eightcap takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The commisions and spreads displayed below are based on the minimum spreads listed on Eightcap’s website. The colour bars show how competitive Eightcap's spreads are in comparison to other popular brokers featured on BrokerNotes.
|EUR/USD (Average: 0.7 pips)||0.0 pips + 3.5||0.7 pips||0.1 pips|
|GBP/USD (Average: 1.1 pips)||0.0 pips + 3.5||1.7 pips||0.1 pips|
|USD/JPY (Average: 1.1 pips)||0.0 pips + 3.5||0.6 pips||0.1 pips|
|AUD/USD (Average: 0.8 pips)||0.0 pips + 3.5||0.6 pips||0.2 pips|
|USD/CHF (Average: 2.3 pips)||0.0 pips + 3.5||2.3 pips||0.2 pips|
|USD/CAD (Average: 2.9 pips)||0.0 pips + 3.5||0.5 pips||0.3 pips|
|NZD/USD (Average: 3.6 pips)||0.0 pips + 3.5||2.8 pips||0.3 pips|
|EUR/GBP (Average: 2.4 pips)||0.0 pips + 3.5||0.5 pips||0.1 pips|
Spreads are dynamic and are for informational purposes only.
As you can see, Eightcap’s minimum spread for trading EUR/USD is 0.0 pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Eightcap vs. similar brokers.See all Spreads
If you were to buy one standard lot of EUR/USD (100k units) with Eightcap at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $3.5. Here’s a rough breakdown of the fees and how this compares against IG & XTB .
|Spread from:||$ 0.00||$ 6.00||$ 2.00|
|Total cost of a 100k trade:||$ 3.50||$ 6.00||$ 2.00|
|$2.5 more||$1.5 less|
|Visit Eightcap||Visit IG||Visit XTB|
All fees/prices are for informational purposes and are subject to change.
Eightcap offers over 58 different instruments to trade, including over 42 currency pairs. We’ve summarised all of the different types of instruments offered by Eightcap below, along with the instruments offered by IG and XTB for comparison.
|FX / Currencies||Eightcap||IG||XTB|
|# of forex pairs offered||42||90||48|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|# of commodities offered||4||34||21|
|Index & Stock CFDs||Eightcap||IG||XTB|
|# of stocks offered||250||8000||1606|
|See Eightcap's Instruments||See IG's Instruments||See XTB's Instruments|
Eightcap also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.See Eightcap's platforms
Eightcap allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument.
As a market maker, Eightcap may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
Finally, we’ve listed some of the popular funding methods that Eightcap offers its traders below.
Eightcap support a wide range of languages including English, Chinese, Thai, Korean, French, Spanish, Italian, and German.
Eightcap has a BrokerNotes A support rating because Eightcap offer over three languages and email support.live chat support.phone support.
As Eightcap is regulated by ASIC and Eightcap Global Ltd is regulated by VFSC , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore Eightcap’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with Eightcap you can visit their website here.
Eightcap has recently announced a strategic partnership with Capitalise.ai. Eightcap’s clients will have the opportunity to enjoy a seamless trading experience by fully automating their trading strategies using free-style text. They also have access to the latest insights provided by Capitalise.ai’s analytics features.
As well as this, Eightcap also has a range of educational resources. All users will have access to regular market updates, a weekly trading week ahead, strategy guides and fundamental and technical guides. All resources can be found under the ‘Learn’ section of their website.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results. *Availability subject to regulation.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.eightcap.com/ on 01/07/2021.