EightCap Trading Account – Review, Types, Process, Benefits, Charges & more

Find out all details about EightCap Trading Account here.

Eightcap is a well-known and reputed online broker that offers superior trading features to its users to implement their trade with the best of the tools, and strategies.

With its dedicated services, it has become one of the popular trading platforms that offer two types of trading accounts to cater to the needs of both new traders and the experience at once.

If you want to know more about both the Eightcap trading account, then read the article carefully and get a detailed discussion over its trading accounts.

EightCap Trading Account and Benefits

Eightcap is a global forex broker, founded in the year 2009.

It is an online trading platform that has it’s headquartered in Melbourne and is regulated by the Australian Securities and Investment Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).

EightCap trading platform offers capitalize.ai automated trading solutions to its traders along with two of the internationally acknowledged platforms that are MT4 and MT5.

The broker is also known for its proactive customer support team that offers its services 24×5. It provides the traders its trading services at low brokerage fees.

The platform is known for offering tighter spreads from 0.1 pips and minimum trade 0.01 lots.

You can opt for any of the trading account touts of the Raw and Standard account and get maximum leverage of 500:1 on each of the accounts.

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EightCap Trading Account Charges

Eightcap trading platform offers tight spreads for each of its accounts.

The spread varies depending upon the type of account, type of financial instrument, and the size of the trade.

For Raw Account, the spread is as low as 0.0 pips for forex pairs and 0.5 pips for foremost indices such as SPX 500.

The spread for precious metals such as gold and silver is 0.1 pips and 0.5 pips respectively. For oil, the spread is 1.0 pip.

The spread for cryptocurrencies fluctuates majorly and can vary from 20 pips to 30 pips.

The leverage Eightcap offers is 30:1 for the traders and professional traders; it may be increased up to 500:1.

For the Raw account, the commission charges are $3.50 per standard. The spread for the Standard account starts from 1.0 pips with maximum leverage of 500:1.

There are no commission charges involved for the standard trading account. The minimum deposit amount is $ 100 USD for Standard Account and Raw Account.

Swap rates are applicable on both accounts for overnight forex trades.

Types of EightCap Trading Account

EightCap online trading platform offers two types of trading accounts including Standard account and Raw Account.

Standard Account

A standard account is meant for traders who are new to the trading industry.

This account is designed specifically for beginners with low trading fees to help them execute their trade in the real forex market with more confidence.

The standard account holds no commission charges and requires a minimum deposit amount of $ 100.

It offers the maximum leverage of 30:1 for Australian clients and 500: for the clients who are non-Australians.

The standard account offers 5 base currencies.

Raw Account

The Raw Account is meant for professional traders. It is designed exclusively for seasoned traders who are active in trading.

The commission’s charge associated with this account is $3.50 per standard lot. The Raw account offers 4 base currencies.

The minimum deposit and leverage are the same as the Standard account that is $ 100 and 500:1 respectively.

EightCap Account Opening and Trading Process

Here, we will give you a detailed process of the Eightcap account opening and trading process.

The process of account opening and beginning the process of trading is the same for both Standard Account and Raw Account. You can open the demo account in a similar way.

Open Trading Account

Browse the Eightcap website and choose the option “open my account”.

When you click on “open my account”, you will get two options of trading account to choose from- the Standard account and the Raw Account. Choose your preferred trading account type option.

As soon as you click on your preferred option, a short form will appear asking you first name, last name, phone number, email id, and password.

Fill in all the information accurately and click the option ‘create my account’ given at the end of the form.

After filling the form, when you click on the ‘create my account’ option, you will get a registration form demanding all your essential information to keep a record.

You must provide the information accurately and submit it.

The next step is to choose your preferred financial instruments and mode of payments for depositing funds and withdrawing funds.

The broker provides many types of payment options, out of which you can choose your preferred ones to make instant deposits or withdrawals.

Lastly, you must perform the verification process in which you have to present your significant documents to the broker while opening the trading account.

The EKYC process is important as it is done to keep the record of account holders, authenticates the identity of the account holder, and ensures the safety and security of the investor’s funds and trading account.

As soon as the broker verifies and approves your account, you will get an email with login credentials. Log in to your account and access its features.

Set up Process

Visit the app store of your device, download the app, install it and log in to your account using the login credentials.

After logging in, personalize your account for a better trading experience and deposit the initial deposit amount and trading fees required.

Now you can strategize your trading and execute your trades.

Find Different Trading Account Types of Forex Brokers

EightCap Trading Account – Features

Eightcap online trading offers advanced features in abundance. Have a look at some of the most significant ones.

Eightcap offers a Guaranteed Stop Loss trading feature that notifies the investor in advance when to sell the particular asset to restrict the losses.

It also provides One-click Trading in which the trader can buy or sell the financial asset with just a click and the trade will be implemented.

OCO orders are one of the crucial trading features wherein the pair of restricted orders instruct the canceling of one order while executing the other.

At the Eightcap trading platform, the traders get a collection of educational materials to stay updated and get complete know-how of advancements in the trading industry.

The broker also comes up with regular webinars, learning courses, and trading vocabulary to keep the traders updated.

Eightcap, being an updated trading platform, provides Expert Advisors software to program MT4 and MT5 trading platforms to begin and execute the trade.

The traders also get an Automated Trading feature that offers pre-programmed trading instructions based on time, volume, and price.

Eightcap also offers trading features like – API trading, Trailing SL/TP, Expert Advisors, offers hedging, Guaranteed fills/ liquidity, Offers Promotions, Guaranteed Limit Orders, Trading From charts, Email Alerts, Social trading, copy trading, and Automated trading.

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EightCap Trading Account – Conclusion

After sharing all the information about the types of trading accounts Eightcap’s offers, it can be concluded that both the accounts have different offerings.

The standard account is meant for new traders whereas the Raw account is meant for professional ones.

Now you can review the article in detail and compare each aspect and offering of both the accounts to choose the most suitable one for you.

Make a wise investment decision by opening the right trading account for you and yield maximum gain.

EightCap Online Trading – FAQs

Here is the list of FAQs related to EightCap Online Trading:

Does EightCap provide Online Trading?

Yes, Eightcap provides online trading through its live trading account.

The account holders can access the Eightcap trading platform live by logging in to the account online on Eightcap’s website.

With a Live account, the investor can trade with the active prices of the forex market.

You can access Eightcap’s live account by using its MT4 and MT5 trading platforms.

What are the Commission Charges in EightCap?

Eightcap has kept nominal commission charges. For the Raw account, the commission charges are $3.50 per standard.

And, since a standard account is meant for beginners, it involves no commission charges at all for the standard account holders.

Does EightCap provide Demo account Trading?

Yes, Eightcap provides a demo account for both the new traders and the experienced ones.

The demo account is designed mainly to give the traders an idea about how Eightcap’s trading platform works.

You can open the demo account and access all its features and tools.

Eightcap’s demo account offers similar features to its real trading accounts.

The broker provides virtual money worth $ 1000 to let the traders buy or sell assets in the real forex market without the threat of losses.

Is trading Free at EightCap?

Eightcap provides the trading services at economic rates but it is not completely free of trading fees.

The standard account is designed for beginners, hence there are no commission charges involved in this account but for the Raw account, the commission charges are $3.50.

Similarly, the spread is also tighter and the initial deposit is low as compared to the competitive trading platforms.

Does EightCap provide Spot Metals Trading?

Eightcap offers a wide range of forex markets along with spot metals to trade at low pricing.

At Eightcap, you can trade faster with worth implementation on every trade.

What are Spot Metals Trading Charges at EightCap?

Eightcap provides spot metals trading at lower prices with tight spreads as low as 0.0 pips.

The commission charges are kept fixed to $5 per 100,000 standard lot.

Does EightCap provide Stock Trading?

Eightcap does not provide stock trading and indices trading.

What is spread at EightCap?

Eightcap trading platform offers tight spreads for each of its accounts.

The spread varies depending upon the type of account, type of financial instrument, and the size of the trade. For Raw Account, the spread is as low as 0.0 pips for forex pairs and 0.5 pips for foremost indices such as SPX 500.

The spread for precious metals such as gold and silver is 0.1 pips and 0.5 pips respectively. For oil, the spread is 1.0 pips.

The spread for cryptocurrencies fluctuates majorly and can vary from 20 pips to 30 pips.

For the Standard account, the spread starts from 1.0 pips.

Is EightCap safe for trading?

Eightcap is an online trading platform regulated by ASIC and VFSC and follows firm protection measures and the cybersecurity of its traders.

It provides complete encryption for data exchanges between the platform and the client-server.

Eightcap is also using 128 bit SSL (Secure Socket Layer) encryption to ensure privacy and validation of the users.

Does EightCap provide Trading Tips?

Eightcap offers the most advanced trading features like – OCO orders, API trading, Trailing SL/TP, Expert Advisors, offers hedging, Guaranteed fills/ liquidity, Offers Promotions, Guaranteed Limit Orders, Trading From charts, Email Alerts, Social trading, copy trading, and Automated trading.

These features help the investors get the appropriate trading tips to execute their trades.

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