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Eightcap broker is one of the best brokers in several aspects based on user reviews on Trustpilot. How is the review?
Eightcap is a forex and CFD broker that is based in Australia and regulated by the Australian Securities and Investments Commission (ASIC). They offer a wide range of trading products, including over 80 currency pairs, indices, commodities, cryptocurrency, and shares. They also offer a variety of account types, including raw account, standard, and TradingView accounts.
Eightcap broker is one of the best brokers currently. This is proven by data taken from the independent user review platform, Trustpilot as a reference. From observations, we can find many positive testimonials that show user satisfaction with the Eightcap broker.
In general, there are 5 aspects of satisfaction that many Eightcap broker users express on the Trustpilot platform, including:
- Easy registration and provided demo account.
- Fast deposit and withdrawal.
- Low spread and commissions.
- User-friendly trading platform.
- Best customer service.
To explore these aspects, let's look at the more detailed explanation below.
1. Easy Registration and Providing a Demo Account
For most traders, especially beginners, the ease of registering or opening an account will be a consideration when choosing a broker. Generally, the easier it is to open a live account, the more attractive it is to traders.
Registration at the Eightcap broker is quite easy. So, many traders feel that they have no difficulty when opening an account on this broker.
Not only that, setting up an account is also very easy, only requiring KYC in a few steps. If everything goes smoothly, the account set-up process only takes a few hours before it can be used.
Here are some feedbacks regarding opening an account on the Eightcap broker on Trustpilot:
Other reviews about set-up account:
Apart from that, this broker also provides a demo account. Beginner traders are strongly discouraged from starting their first trading experience on a Live Account directly. That could be fatal. It would be highly recommended for novice traders to try their first trading experience on a demo account.
All traders may register for the Eightcap demo account, but they must first apply for a live trading account without funding it. Eightcap relies on the MT4/MT5 trading platforms to create demo accounts, which offers traders flexibility in setting the preferred demo account balance and leverage. By default, Eightcap limits demo accounts to 30 days, but traders may contact customer support to request an extension.
These are some testimonials from Eightcap broker users on TrustPilot regarding demo accounts.
2. Fast Deposit and Withdrawal
The quality of a broker is usually also seen from the speed of their deposit and withdrawal services. In this case, all traders want a fast and smooth deposit and withdrawal process. Not only that, the availability of payment method options is also an added value for brokers.
Eightcap is a broker that pays attention to this aspect by providing many choices of payment methods ranging from Wire transfer, Union Pay, Skrill, Neteller, FasaPay, DragonPay, PayPal, Visa, Bitcoin, USDT, etc. This way, it will be easier for you to make deposits and withdrawals.
The following are several user testimonials regarding deposit and withdrawal Eightcap on TrustPilot.
Some even highly recommend it for beginner traders:
3. Low Spread and Commission
Spread and commission are still some of the aspects that traders consider when choosing a broker. Low spreads and commissions will certainly be very profitable for traders, especially traders who use scalping strategies that require opening many positions at one time.
In terms of specifications, the Eightcap broker has quite low spreads on almost all trading instruments offered, starting from forex, commodities, crypto, oil, indices, and shares. These are some spread specifications on several Eightcap broker instruments.
Here are some of what they had to say about spreads at the Eightcap broker:
According to them, the Eightcap broker has good spreads for trading gold (XAU/USD).
As for commissions, this broker offers different commission numbers according to the type of account used. However, there is one type of Raw Account account that offers quite low commissions, including; 3.5 (USD, AUD, NZD, SGD, CAD), 2.25 GBP, and 2.75 (EUR) per standard lot traded. Meanwhile, Standard accounts and TradingView accounts are not subject to commission. For more details, please see the image below.
Here are some testimonials on Trustpilot that express user satisfaction with the commissions offered by the Eightcap broker.
Others say about Zero commissions on Eightcap broker:
4. User-Friendly Trading Platform
The next aspect that is highlighted by the Eightcap broker is the trading platform offered. In contrast to bona fide brokers in general which provide many trading platform choices, Eightcap only provides 4 types of trading platforms, namely; MetaTrader 4 or 5, TradingView, and WebTrader.
Even though it only provides these 3 platforms, it is very sufficient. The reason is the majority of traders usually use MetaTrader. This platform has strong functionality, and traders can easily access all relevant tools, such as prices, indicators, and charts.
This was also stated by many traders in Trustpilot testimonials, including:
Another account about Eightcap's Webtrader:
5. Best Customer Service
Eightcap is also known as a broker that has good customer support. They guarantee that all clients can easily contact Eightcap via Live Chat or Email if problems arise. Traders who wish to contact Eightcap via email can send a message to [email protected].
This is what makes Eightcap labelled as a fast response broker and has experienced customer service. Interestingly, many users of this broker are very satisfied with the services provided by Eightcap regarding client support.
Here are some positive feedbacks from Eightcap users:
Even Eightcap broker customer service uses a personal touch to solve clients' problems:
Conclusion
Eightcap has a reputation as one of the best brokers is reinforced by positive user reviews on Trustpilot, reflecting satisfaction across crucial aspects such as easy registration with demo accounts, rapid deposit and withdrawal processes, low spreads and commissions, a user-friendly trading platform, and excellent customer service.
While Eightcap receives positive feedback in several key areas, it's important to remember that choosing the right broker depends on your individual needs and priorities. Consider factors beyond the points mentioned, such as specific trading instruments offered; platform features you value, and regulatory requirements in your region.
Established in 2009, Eightcap is an Australian-incorporated brokerage specializing in Forex and CFD trading. Renowned for its transparent pricing model, the company offers low, variable spreads sourced from leading banks and institutions. This pricing mechanism is facilitated through state-of-the-art Equinix servers. Operating globally with headquarters in Australia and an international office in the Bahamas, Eightcap caters to both MT4 and MT5 traders.
