Every trader knows that choosing the right broker is the first step to success in the forex world. The brokerage company Eightcap has caught the attention of many traders, but the question ‘’Is it truly legit?’’ still matters.
Let’s take a closer look at Eightcap through this review – see its offers, pros and cons, and find the answers about its safety.
The Introduction to Eightcap
Eightcap is an Australian broker established in 2009, which stands out for transparent pricing with low variable spreads sourced from leading banks. The broker operates globally from Australia but also has offices in the Bahamas.
Besides retail clients, the broker provides technological advantages and partnership opportunities for influencers, IBs, and affiliates. With enough experience under its shoulders, Eightcap combines safety with advanced technology, emphasizing global accessibility and transparent trading.
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Eightcap Advantages and Disadvantages
Let’s start with the advantages Eightcap offers to its users. It stands out as a reliable broker with a strong technological foundation and provides a powerful platform to trade. The costs associated with trading are competitive, and including comprehensive research tools within the MT4 platform increases the overall trading experience.
The broker offers wide options of financial instruments, and the flexibility in fund withdrawal methods contributes to its effective and user-friendly offering.
While EightCap boasts several strengths, there are disadvantages to consider as well. The absence of comprehensive learning materials makes it less beginner-friendly, potentially hindering those new to trading. Additionally, the lack of 24/7 support centers may be uncomfortable for traders requiring immediate assistance.
Eightcap Leverage Offers
For those whose terminology is not their strength part – leverage in trading refers to the ability to control a large position in the market with a relatively small amount of capital. It is essentially a loan provided by the broker to the trader, allowing them to increase the size of their trades besides their personal account balance. Leverage is expressed as a ratio, such as 50:1, 100:1, or 500:1, indicating the multiple by which the trader’s capital is increased.
Eightcap’s leverage options are contingent on trading size and entity. For traders under Eightcap Australia, the maximum leverage permitted is 1:30. on the other hand, international traders may access higher leverage.
Is Eightcap Legit or Not?
Answering the question is Eightcap a legit broker? – certainly.
Eightcap is a reliable option, demonstrating its trust through strong regulations. It’s regulated by the Australian Securities and Investments Commission (ASIC), a well-respected authority globally. It follows strict rules, creating a safe space for trading.
With a valid license, the broker provides a variety of CFD trading options covering over 600 markets, including forex, indices, and commodities. Their dedication to following regulatory standards and offering unique services ensures safe and dependable trading.
Conclusion
In summary, Eightcap is a legit and reliable broker, backed by strong regulation from ASIC. Its commitment to regulatory standards ensures a dependable trading platform, instilling confidence in traders navigating the dynamic financial markets.
Don’t forget to do your research as well, before making a final decision, and take your time to choose the broker that fits you most.
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