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Eightcap Review
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Eightcap Review
Eightcap enhances its status as a MetaTrader-only broker with support for a suite of third-party plug-ins and access to Capitalise.ai’s algorithmic trading platform.To get more news about eightcap review, you can visit wikifx.com official website.
Despite Eightcap’s impressive crypto offering, its narrow range of markets, lack of standout educational content, and meager research material leave it struggling to keep up with the best forex brokers.Eightcap’s 45 forex pairs and roughly a dozen CFDs put its offering of investments below the industry average. The following table summarizes the different investment products available to Eightcap clients.
Cryptocurrency: Cryptocurrency trading is available at Eightcap through CFDs, but not available through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents.Eightcap offers two account types across its global entities, including those in Australia and Vanuatu. The commissions and fees you pay will depend on whether you choose the commission-based Raw account or the spread-only Standard account.Eightcap lists an average spread of 0.06 pips for its commission-based Raw account. However, after factoring in the per-side commission of $3.50 per trade, the all-in cost amounts to roughly 0.76 pips – coming in just under the industry average of 0.8 pips.With no proprietary mobile app available, Eightcap simply can’t compete with industry leaders like IG and Saxo Bank. For our top picks among trading apps, read our guide to best forex trading apps.
Apps overview: As Eightcap is a MetaTrader-only broker, iOS and Android versions of the MT5 app come standard and are both available for download from the Apple App Store and Google Play store, respectively.
Eightcap offers a suite of plug-ins from FX Blue that enhance the standard MetaTrader platform suite. It also supports integration with Capitalise.ai, allowing algorithmic trading within your MetaTrader 4 (MT4) account. With a variety of extra features that enhance the standard MetaTrader experience, Eightcap has inched closer towards offering what the best MetaTrader brokers provide.Platforms overview: Eightcap is a MetaTrader-only broker offering the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platform suite from MetaQuotes Software Corporation. Eightcap also recently introduced the ability for clients to connect their accounts to TradingView, a popular third-party charting platform.
Eightcap produces a modest variety of research content that includes daily updates in both written and video format – however, its research offering doesn’t stack up against what the best brokers offer.Research overview: Eightcap’s research primarily takes the form of daily written updates from its in-house staff – such as its Trading Week Ahead series – accompanied by the occasional video posted to the firm’s YouTube channel, which hosts its Market Update video series.
Market news and analysis: Expanding the range of research by integrating third-party research tools and content (such as Autochartist and Trading Central) would help lift Eightcap’s ranking in this category.
Eightcap’s educational offering delivers a wide variety of written articles, but only a limited selection of videos. Some of the best brokers in this category offer lesson programs, complete with quizzes and progress tracking – features that are absent at Eightcap.Learning center: Eightcap offers just a dozen educational videos, and a handful of archived webinars, such as its TraderFest series which covers CFDs and forex. These videos are archived on its YouTube channel and organized by playlist. The selection of written educational content articles has improved, and includes at least 74 articles covering fundamentals and trading strategies.
Room for improvement: Expanding the selection of educational videos and organizing articles by experience level would help balance Eightcap’s overall educational offering.