Eightcap Types Compared
Eightcap has developed three variants of account plans - Demo, Standard, Raw. The minimum deposit size starts from 100 USD and spreads start from 0 pips. In the Standard account there are no commissions, and in the Raw account the commissions are 3.5 dollars per lot. Beginners should opt for the Standard plan, while more experienced traders and those who specialize in CFD trading on Forex will find Raw suitable.
Eightcap is an international broker that started its work in 2009. During this time, it has received dozens of awards, including for excellent trading conditions. The project offers its clients three variants of account - Demo, Standard, Raw. How they differ from each other and for what purposes they are suitable - TU experts will tell you about all this in today's article.
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What are the different accounts in Eightcap?
There are three types of accounts provided on Eightcap - Demo, Standard, Raw.
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What is the best account for beginners in Eightcap?
For newbies who only want to try their hand at trading, a demo account is suitable. With its help, they will be able to improve their skills without any financial risks. Beginning traders should also take a closer look at the standard account, which includes all the necessary function for a start, including zero commissions. There are also lucrative Eightcap trading signals.
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How to open an Eightcap account?
To open an account with Eightcap, you need to go to the broker's website, click on the "Create account" button and fill in the form with the requested data. Next, you need to confirm your e-mail address and verify your account by uploading a scan copy of your identity document and proof of residence.
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What is the minimum deposit?
Eightcap minimum deposit amount starts at $100.
What are the features of Eightcap standard account?
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Minimum deposit: 100 dollars;
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Minimum order volume: from 0.01 lot (depending on the selected financial instrument);
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Spread: from 1 pip;
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Commissions: none;
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Margin call 80%;
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Stop Out: 50%;
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Account currencies: AUD, USD, GBP, GBP, EUR, NZD, CAD, SGD;
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Platforms: MetaTrader 4, MetaTrader 5, and TradingView;
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Characteristics: compatible with EA.
A Standard account is an excellent option for beginners who are just starting to master trading on the financial markets. It provides all the necessary function for a successful start. Within the framework of this account a trader gets access to 800 instruments, including CFDs on stocks, indices, currency pairs, commodities and cryptocurrencies. Eightcap offers 3 platforms to choose from. MT4 and MT5 are considered the most versatile and user-friendly, while TradingView is ideal for comparing markets and instruments.
What are the features of Eightcap raw account?
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Minimum deposit: 100 dollars.
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Minimum order volume: from 0.01 lot (depending on the selected financial instrument).
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Spread: from 0 pips.
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Commissions: 3.5 dollars per lot.
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Margin call: 80%.
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Stop Out: 50%.
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Account currencies: AUD, USD, GBP, GBP, EUR, NZD, CAD, SGD.
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Platforms: MetaTrader 4, MetaTrader 5, and TradingView.
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Characteristics: compatible with EA.
The account description states that it is suitable mainly for those who specialize in trading CFDs on Forex, as well as for more experienced traders. Eightcap provides investors with the ability to trade all assets, as well as utilize a full range of educational materials and analytical tools. On the broker's website you will find an economic calendar based on artificial intelligence, the Capitalise.ai platform for automating trading by creating and running strategies without the need for programming, the FlashTrader automated Expert Advisor and much more.
What are the features of Eightcap demo account?
According to Eightcap reviews, in addition to real accounts, Eightcap offers traders a free demo account for test trading. It is active for 30 days, but it can be extended by contacting the support team. The size of the virtual balance ranges from $3,000 to $500,000, and the leverage can be 1:500. A demo account allows the investor to trade on real quotes and takes into account the current market peculiarities.
How to choose? Eightcap account types comparison
| Standard | Raw | Demo | |
|---|---|---|---|
|
Minimum deposit |
100 |
100 |
No |
|
Platforms |
MetaTrader 4, MetaTrader 5, and TradingView |
MetaTrader 4, MetaTrader 5, and TradingView |
MT4, MT5 |
|
Markets |
CFDs on Forex, commodities, indices, stocks and cryptocurrencies |
CFDs on Forex, commodities, indices, stocks and cryptocurrencies |
CFDs on Forex, commodities, indices, stocks and cryptocurrencies |
|
Trade size |
0,01 |
0,01 |
0,01 |
|
Commissions |
No commission |
Each side: $3.50 US dollars/2.25 pounds sterling/2.75 euros per standard lot |
No commission |
|
Max leverage |
The maximum leverage for Australian customers is 1:30 and for non-Australian customers it is 1:500 |
The maximum leverage for Australian customers is 1:30 and for non-Australian customers it is 1:500 |
1:500 |
|
EURUSD average spread |
From 1 point. |
From 0 point. |
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|
Special characteristics |
Commission-free trading. Scalping is allowed. |
Tight spreads. Scalping is allowed. |
Can be used for 30 days. Access to all financial products. |
Eightcap Account Types vs Competitors
| Admiral Markets | Forex.com | Eightcap | |
|---|---|---|---|
|
Islamic (swap free account) |
Yes |
Yes |
No |
|
Cent Account |
No |
No |
No |
|
Demo |
Yes |
Yes |
Yes |
How to open an Eightcap account?
If you want to open an Eightcap account follow our guide: register, confirm your email, verify your account, fund your balance.
Step 1: Register
Eightcap website
Eightcap website
Step 2: Confirm your email
Next, you will be prompted to verify your email account. An Eightcap representative will send you an email with an active link that will automatically confirm your email address.
Eightcap website
Step 3: Verify your account
To move on to live trading, traders must complete the verification process. To do so, Eightcap asks you to upload a valid image ID, such as a passport or driver's license, and a document proving your residency. In individual cases, the broker may require additional information.
Step 4: Fund your balance
Once your account is verified, you can deposit your balance to start trading. The minimum deposit for Raw and Standard accounts is 100 USD. Use bank transfer, credit/debit cards or any other convenient payment method to deposit funds. After that you will get access to all financial assets.
Expert Opinion
Eightcap broker offers two types of account - Raw and Standard. They have approximately the same trading conditions, minimum deposit requirements and characteristics. However, by choosing Raw Account, clients will get narrower spread Eightcap, while Standard Account gives them the opportunity to trade without commissions. The Raw account will suit more experienced traders, while the Standard Account is ideal for beginners who want to try their hand at trading. Eightcap also has a demo account, which is available to all traders and can be opened on MT4/MT5 platforms. Its validity period is limited to 30 days, but you can request an extension by contacting the intermediary's support team.
For novice investors, the demo account allows them to assess whether Eightcap's offerings meet their financial goals and needs, while pros can refine their strategies and eliminate mistakes without risking capital. All Eightcap plans are ideal for scalpers, as the broker allows the use of this trading strategy.
Final thoughts
In this piece, we have outlined the types of plans offered by Eightcap broker to make it easier for you to make a decision based on your own financial capabilities, as well as the goals you want to achieve. Although the broker has developed only three account options, one of them does not require any monetary investment. As it is a training account, users will have a lot to choose from.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.