Eightcap Account Types
The platform boasts two types of accounts, catering to traders with different experience levels. Whether you are a beginner or an experienced trader, you can find the account type that suits your needs. Let’s take a look at them:
Register for Account
Simply sign up online for a Eightcap account.
Verify Your Account
Upload the required documents to verify your identity.
Make a Secure Deposit
Fund your account using Eight cap's flexible payment options.
You’re Ready to Trade
Connect to your trading account and start investing in global markets.
Customer Service
This broker offers excellent customer service, available anytime, anywhere. Besides live chat, you can also reach them via:
Eightcap pros & cons
Pros:
- Founded in 2009, Eightcap is regulated in three Tier-1 jurisdictions and two Tier-4 jurisdictions, ensuring a high level of oversight.
- Eightcap provides a diverse range of written research articles and third-party content, including insights from BK Crypto Crusher.
- With over 200 cryptocurrency CFDs available, Eightcap was honored with the 2024 Annual Award for #1 Most Cryptos.
- The platform offers the award-winning TradingView platform, particularly favored by its U.K.-based clients.
Cons:
- Eightcap offers a narrow range of just over 900 CFD symbols and only 56 forex pairs, limiting market options.
- Research content provided by Eightcap lacks depth, variety, and consistency.
- The MetaTrader suite is not available to investors in the U.K. through Eightcap.
- Educational resources at Eightcap lack filtering options by experience level and do not include progress-tracking features.
- Compared to leading forex brokers for beginners, Eightcap’s educational video offerings are limited. Additionally, the range of markets, accounts, and execution methods available may not match those of the top MetaTrader brokers.
Offering of investments
Eightcap offers a selection of 56 forex pairs and approximately 900 CFDs, aligning with the industry standard for investment offerings. Investors can access various asset classes, including shares, indices, commodities, and cryptocurrencies. The availability of markets at Eightcap depends on factors such as the trading platform used, the client’s country of residence, and the specific Eightcap entity managing the account. Cryptocurrency trading is facilitated through CFDs rather than direct purchase of the underlying asset (e.g., buying Bitcoin). It’s important to note that Crypto CFDs are not accessible to retail traders through any broker’s U.K. entity, nor to U.K. residents.
Commissions and fees
Eightcap provides two account types across its global entities, including those in Australia and the Bahamas. The fees and commissions you incur will depend on whether you opt for the commission-based Raw account or the spread-only Standard account.
For its commission-based Raw account, Eightcap advertises an average spread of 0.06 pips. However, when considering the per-side commission of $3.50 per trade, the total cost amounts to approximately 0.76 pips. This places Eightcap just below the industry average of 0.8 pips.
In summary, while Eightcap is slightly more expensive than the most budget-friendly forex brokers, its costs remain competitive within the industry.
Mobile trading apps
Other trading platforms
Market research
Education
Eightcap’s educational resources provide a diverse range of written articles but offer a limited selection of videos. Unlike some of the leading brokers in this category, Eightcap lacks structured lesson programs with quizzes and progress tracking features.
Learning center: Eightcap’s educational videos include just a dozen offerings, alongside a few archived webinars like the TraderFest series covering CFDs and forex. These resources are available on the firm’s YouTube channel, organized by playlist. While the selection of written educational content has expanded, with approximately 74 articles covering fundamentals and trading strategies, following the launch of Eightcap Labs.
Room for improvement: Enhancing the variety of educational videos and categorizing articles based on experience levels would contribute to a more balanced educational offering from Eightcap.
