The company was established in 2009 in Melbourne, Australia and has expanded with support offices in Europe and Asia. EightCap is regulated by the Australian Securities and Investments Commissions (ASIC) and holds Australian Financial Services Licence (AFSL) number 391441. This enables traders to access leverage options as high as 500:1.
The company offers MetaTrader 4 and MetaTrader 5 access on desktop and mobile devices such as Android and iOS. Clients can also access MetaTrader 5 directly on their web browsers. The MetaTrader platforms allow automated trading with expert advisors (EAs).
EightCap offers two types of accounts: Standard and Raw, available in 7 base currencies. Demo versions of these accounts are also available across its MT4 and MT5 platforms.
The mission of the company is to provide exceptional financial services to its clients, while acknowledging their individual needs and helping them get where they want to be. To bring more opportunities for clients, the company offers affiliate and white label programs for corporate clients.
In line with the Australian Client Money Rules and ASIC Regulatory Guide 212, all client funds are maintained on a trust in segregated bank accounts with the National Australia Bank.
Typical Spread on Majors
|Type of Broker||STP & ECN/STP|
|Regulated By||Regulated By ASIC (Australia)|
|Offices In||Australia, Bulgaria, China, United Kingdom, Vietnam|
|Supported Languages||English, French, Italian, Spanish, Chinese, Thai, Korean, German|
|ESMA Regulation ?||This broker is not regulated within the E.U and is not subject to ESMA's new Forex and CFD trading restrictions. To find out more about these restrictions, please see this article|
|Account Currencies||AUD, USD, EUR, GBP, NZD, SGD, CAD|
|Traders from USA||No|
|Clients Funds Segregated||Yes|
|Interest on Margin||No|
|ECN / STP Accounts Offered||Yes|
|Commission on STP or ECN||$3.50 / Lot per side (Raw Account)|
|VIP Accounts Offered||No|
|Mini Accounts Offered||Yes|
|PAMM / MAM Solutions||Yes|
|Web Based Trading||Yes|
|Funding Methods||Credit/Debit Cards, Wire Transfer, Skrill, China UnionPay, POLi, XPAY, XPAY QR Code|
|Withdrawal Methods||Credit/Debit Cards, Wire Transfer, Skrill, China UnionPay, POLi, XPAY, XPAY QR Code|
|Platforms Offered||MetaTrader 4, MetaTrader 5, MetaTrader 4 Mobile, MetaTrader 4 iOS, MetaTrader 4 Android, MetaTrader 5 Android, MetaTrader 5 iOS, WebTrader|
|NO of Pairs||46|
|Trade off Charts||Yes|
|MetaTrader Server Time||GMT + 2|
|Demo Account Expiry||30 Days|
|Minimum Contract Size||0.01|
|Option of OCO||Yes|
|Option of FIFO||Yes|
|Negative Balance Protection||No|
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