Finding a reliable broker is key in order to begin your online trading journey. The right broker can have a big impact, not just on your experience, but your performance as well. Thus, this decision should never be taken lightly and should only be made after careful consideration. This means that you need to do your homework and know everything important about a broker before making up your mind. You will find this EightCap review helpful in this process because it can shed some light on what you can expect from this particular broker.
After all, EightCap was launched in the market in 2009 and is headquartered in Australia. It has been offering its services to traders and is enjoying a great deal of popularity because of its transparent pricing model. In addition, it also has regional offices in other parts of the world, including Cyprus, Bulgaria, and the United Kingdom. What more should you know about EightCap? Read on to find out:
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The most prominent indicator of a reliable brokerage is their regulatory status, which means it is the first thing you should take into account. You will come to know that since its headquarters are located in Australia, EightCap has a license from the Australian Securities and Investment Commission (ASIC) that regulates the industry in the country.
As it is a regulated entity, it means that EightCap maintains the highest standards of financial reporting, corporate governance, and disclosure. They also keep all client funds segregated from business funds and they are deposited with leading banks. In addition, traders are offered additional protection through the professional indemnity insurance policy and this will give you peace of mind.
Another extremely essential piece of information that you should know about a broker is the trading instruments they are offering to you. The good thing about EightCap is that they have put together a diverse and extensive range of instruments for their clients. These comprise about 250 financial instruments, which include major and minor forex currency pairs, shares, oil, silver, gold, and cryptocurrency CFDs.
It is also necessary to know what account types have been put together by the broker because you want to be able to trade comfortably. You will not be disappointed with EightCap because it offers you a simple choice between two account types; you can choose to trade with Standard conditions that have no complications, or you can go with the Raw Account that charges spread beginning from 0.0 pips, along with a commission for professional traders.
The best thing about the account types at EightCap is that all trading styles are accepted and there are no restrictions applicable on using EAs, or any other strategies. You can also enjoy high leverage options and flexible lot sizing. No matter which account you choose, all traders are given the same professional trading conditions and they also get support from the company.
The most crucial feature of any brokerage is their trading platform because it is one you engage with the most and EightCap has ensured that its clients don’t have to settle for anything less than the best. You can get the MetaTrader 4 and the MetaTrader 5 platforms, which boast a variety of advanced tools and features. You can find these proprietary developed platforms for desktop PCs, or also download their mobile apps for trading on the move.
You will also discover that EightCap allows you to use an array of tools including a range of indicators, charting tools automating trading features, and more. You can also get smart notifications, loop strategies, and backtesting opportunities.
Along with these offerings, you will find that the spreads are very competitive and leverage ratios are quite impressive. A wide variety of payment methods are also supported for your ease and convenience and this allows EightCap to offer a positive trading experience to all.
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