Is Eightcap a bad broker?
Eightcap is considered Trusted, with an overall Trust Score of 85 out of 99.
Eightcap Group Ltd is authorized and regulated by the Financial Conduct Authority (FCA), FRN 921296. We rate FCA as a Tier-1 regulator. Eightcap Global Limited is regulated by The Securities Commission of The Bahamas (SCB), SIA-F220. We rate SCB as a Tier-3 regulator.
Eightcap versus Purple Trading Verdict
While it has the infrastructure for all traders, its expensive pricing environment makes it an uncompetitive choice for demanding high-volume trading strategies. Eightcap is a superior choice, except for passive investments, algorithmic traders, and scalpers.
| Deposit | Withdrawals | |
|---|---|---|
| Available Currencies | Processing Time** | Processing Time** |
| AUD, USD, GBP, EUR, NZD, SGD | Instant | 1-5 business days |
| AUD, USD, GBP, EUR, NZD, CAD, SGD | 1-5 business days | 1-5 business days |
| AUD | 1-2 business days | 1-3 business days |
Eightcap operates under the supervision of regulators that are not recognized by the US authorities, and doesn't have a license from the US Commodity Futures Trading Commission (CFTC) or the National Futures Association (NFA).
Melbourne-based Eightcap will change its offerings to prop trading firms by ceasing brokerage services, effective from February 29th, based on the claims of several prop trading firms.
Globally trusted CFD broker
Eightcap launched in 2009. We were founded in Melbourne, Australia with a simple, clear mission: to provide exceptional financial services to our clients.
You can request to withdraw funds from your account by submitting an online form through the Client Portal. We will endeavour to process your withdrawal request within 24 business hours.
Excluding bank wires and cryptocurrencies, where no minimum withdrawal amount applies, and Pay Retailers, which has a $50 minimum, all Eightcap withdrawal options require a $100 minimum.
Prop trading firms which Eightcap has provided services to include Blue Guardian, Funded Trading Plus, Glow Node, Lark Funding, Skilled Funded Traders, Smart Prop Trader, The Funded Trader, and UWM.
What is the minimum deposit for Eightcap?
The minimum account deposit is $100 (or account currency equivalent) when you fund for the first time. What type of accounts does Eightcap offer? We offer two types of accounts, Standard Account and Raw Account. Both of them provide the same trading conditions, extras and features.
Eightcap offers leverage on trading accounts from 1:1 up to 500:1. Forex instruments generally offer more leverage than stocks due to higher liquidity, which is why the forex market is so popular.
We do not charge any fees on our FX or CFD products. However, fees may apply to open positions held overnight.
Eightcap is a broker that offers its clients transparency, client support, competitive spreads, premium liquidity, and much more.
Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, ThinkMarkets ranks more highly than Eightcap.
- Log in to your client dashboard.
- Click on 'Deposit/Withdraw' in the menu on the left.
- Click on the 'Withdraw' button.
- Select the account to withdraw to (or add a 'New Bank Account').
- Enter the amount, then click 'Request withdrawal'.
Alex Howard Becomes Eightcap CEO
Let's make it happen!" Headquartered in Melbourne, Australia, Eightcap offers retail counterparty trading with forex and instruments of other asset classes. Additionally, the platform expanded its offerings and added more than 250 cryptocurrency CFDs.
Joel Murphy is the Founder and Director of Eightcap.
Yes, you can connect your Eightcap account to TradingView as of January 2024, allowing you to make trades directly from TradingView.
Our execution servers are located in Equinix data centres, where most of the world's financial institutions are hosted, ensuring optimal performance at all times.
Who is the best forex broker?
- OANDA - Best US Forex broker overall.
- Forex.com - Lowest spread Forex broker.
- IG - Best Forex broker for beginner traders.
- Interactive Brokers - Best Broker commission rates.
- TD Ameritrade - Best U.S.-Based customer support.
- eToro - Best social and copy trading platform.
Yes, we want to provide you with the opportunity to become familiar with the trading environment and test our platform before you apply for a live account. Our demo account normally lasts for 30 days.
Is Eightcap Safe? Yes, Eightcap is a safe broker for Nigerians to trade with. It maintains regulation from the Australian Securities and Investments Commission (ASIC), the Securities Commission of Bahamas (SCB), and is registered in Vanuatu.
*The minimum initial deposit is $100 or currency equivalent.
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