How To Open An Eightcap Account: Guide For Traders
To open an account, you need to take the following steps:
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Go to the broker's website and click on the "Create Account" button
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Fill in the registration form
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Confirm your email address
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Choose the type of account and provide detailed information about yourself
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Verify by uploading the necessary documents
Eightcap, founded in 2009, has established itself as a reliable broker that provides traders with a wide range of assets and professional support. A variety of platforms, low commissions, advanced analytical tools and high leverage are far from being a complete list of brokers' advantages. For the whole period of its operation more than one million users all over the world have joined it. If you want to become one of Eightcap's clients, you have to undergo mandatory registration and account verification. And how to do it - TU experts told you in today's article, so read to the end.
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Can US citizens open an Eightcap account?
No, you cannot open an account with Eightcap if you are a United States citizen.
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What is the minimum deposit for an Eightcap broker?
Eightcap minimum deposit amount is $100.
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How do I fund my Eightcap account?
After registration and account verification, you will have access to your user account, through which you can deposit funds by going to the "Deposit/Withdrawal" block. The broker offers to do it by credit/debit cards, electronic payment systems and bank transfer.
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Is Eightcap a good broker?
Eightcap is a regulated and reliable broker that is suitable for both novice traders and professionals. Among its advantages are: a loyal minimum deposit, narrow spreads from 0 pips, a demo account for practice trading, Eightcap trading signals and auxiliary tools, several platforms to choose from and 24/7 multi-lingual support.
Eightcap Account Opening Guide
Step-by-step instructions on how to open an account on Eightcap.
Step 1. Go to the broker's website eightcap.com.
Eightcap official website
Step 2. Click on the "Create an account" button, which is located in the upper right corner of the site.
Eightcap official website
Step 3. You will gain access to the registration form. Enter the requested data, namely: country of residence, first name, last name, e-mail, password and phone number. Click "Create an account" to continue.
Eightcap official website
Step 4: An email from Eightcap will be sent to the email address you provided during registration. Click the link to confirm the authenticity of the e-mail.
Eightcap official website
Step 5. Next, you need to choose the type of account and specify detailed information about yourself: gender, date of birth, residential address, country, city, postal code, tax residency.
Eightcap official website
Step 6. In the next tab, select your trading platform, account type, leverage and account currency. Click "Next".
Eightcap official website
Step 7. Read the bylaws and, if you agree to Eightcap's terms and conditions, check the box next to each item.
Eightcap official website
Step 8: The next step is to undergo verification. Upload scans/images of your passport or ID card, as well as a document confirming your place of residence. This can be a bank statement or a copy of your utility bill.
Eightcap official website
Eightcap official website
Step 9. After successful completion of the verification process, you will get access to your user account and will be able to replenish your balance to start trading.
Eightcap Account Requirements and Documents
The following documents are required for verification:
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Identity document - passport or ID card;
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A document confirming your place of residence - a bank statement or a copy of your utility bill.
Basic requirements:
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Original images or scan copies;
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There should not be any glare on the image;
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If you are submitting a double-sided document, be sure to upload two sides.
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The corners of the document must be visible;
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The expiration date of the document should not be earlier than one month.
All documents must contain the bearer's full name and address and be up to date.
If the uploaded documents meet the Eightcap requirements, you will get access to your user account and will be able to deposit your balance. The minimum deposit amount on Eightcap is 100 dollars. Traders are also given the opportunity to choose a demo account for practicing trading.
Eightcap official website
Eightcap Account Types
Before depositing, you should familiarize yourself with the accounts available on the broker's website. Eightcap offers three types of account.
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Raw |
The minimum deposit is 100 dollars. Spreads Eightcap from 0 pips, and the size of commissions is 3.5 dollars per standard lot in both directions. Traders have access to 800+ instruments. Scalping is also allowed. |
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Standard |
Here the minimum deposit is also 100 dollars, and spreads start from 1 pip. But, unlike the Raw account, the standard account has no commissions. Platforms provided: MetaTrader 4, MetaTrader 5, and TradingView. |
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Demo |
A demo account is available for depositors for 30 days, but it can be extended by contacting technical support. With its help you can familiarize yourself with the broker's trading environment and test its platform without any risks before applying for opening a real account. Setting up a demo account usually takes less than a minute. |
How to Close an Eightcap Account
The broker's website says that you need to contact Eightcap technical support to close your account. You can do this by e-mail or by calling the phone numbers provided. Online chat is also available in the user account.
Expert Opinion
It will take you up to 10 minutes to open an Eightcap account. The most difficult part of this process is account verification, as you will need to upload an image or scanned copy of documents confirming both your identity and your actual place of residence. Only after passing this stage will you get access to all the functions of your user account.
However, as practice shows, for many people verification becomes an insurmountable obstacle to cooperation with Eightcap. In order for your request to be confirmed, carefully familiarize yourself with the requirements set by the broker. Before sending it, make sure that the document is complete (all four corners must be visible and the picture must be full-size), not damaged, and the image is of good quality and all data can be easily seen on it. There should also be no glare on the document. On average, requests for account creation are processed by managers within a couple of hours. If you have additional questions, you can ask them by email or phone. Discover also complete Eightcap reviews.
Final thoughts
In this article, we have described the main steps that traders need to take to create an account on Eightcap, as well as the nuances that should be taken into account during verification. We hope this article will be useful to you and will greatly simplify the registration process.
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.