EighCap is a reliable broker, also provides a good technological base for trading, costs are good and there is great research included in MT4 platform.
Why choose Eightcap
Eightcap is definitely worth a try if fees are more or less your only concern when choosing a forex broker. Its forex fees are the lowest among Australia-based forex brokers, withdrawals are free, and there is no inactivity fee.
Account opening is super fast, and the $100 minimum deposit is reasonable for a forex/CFD-only broker. As a plus, Eightcap offers a great lineup of crypto products, making up for a poor CFD selection and generally basic services when it comes to research, education or customer support.
Like many of its peers, Eightcap uses the popular MetaTrader platforms.
Fees
Eightcap has low forex and CFD fees, especially if you choose the Raw account. There are also no inactivity or withdrawal fees.
Low index CFD fees
All index CFD fees are built into the spread. For example, the spread for S&P 500 index CFDs is 0.6.
Low stock CFD fees
The commission for stock CFD trading is the following: $2 per lot (100 shares), therefore $0.02 per share.
No inactivity fee, no withdrawal fee
There are no inactivity, deposit or account fees. For international wire transfers, your bank may charge you a receiving fee that will be passed onto you (it could be $20 or higher).
Safety
Eightcap is a legit brokerage. It is regulated by several financial authorities, including the top-tier FCA in the UK and ASIC in Australia, although there is investor protection only for UK and EU clients. There is also no public information on the broker’s financials available.
Deposit and withdrawal
At Eightcap deposits are free, as are most withdrawals, with e-wallet options also available. The selection of account base currencies is limited to major currencies.
