Eightcap Account Types Editor’s Verdict
Eightcap ranks among the most competitive Forex brokers and leading cryptocurrency CFD brokers.
Eightcap has two account types: its commission-free Standard account and its competitively priced commission-based Raw account. All traders may register for an Eightcap demo account, but a swap-free Islamic option is unavailable, and registration for a corporate account is also missing.
Deep liquidity, high leverage, and excellent order execution makes Eightcap ideal for demanding algorithmic traders, scalpers, and high-frequency strategies. Learn how you can save more than 30% on Eightcap fees by reading our complete Eightcap account types review below.
Read Eightcap Broker Review to learn more.
Eightcap Account Types Overview at a Glance
Account Type | Standard |
|---|---|
Minimum Deposit | $100 |
Minimum Spreads | 0.0 pips to 1.0 pips (account-dependent) |
Commissions | $7.00 per 1.0 standard round lot |
Rebate Program | No |
Maximum Leverage | 1:500 |
Order Execution Model | ECN/Market Maker hybrid |
Minimum Trade Size | 0.01 lots |
Algorithmic Trading | Yes |
Copy Trading | Yes |
Mobile Trading | Yes |
VPS Trading | Yes |
API Trading | No |
Eightcap Account Types
The below Eightcap account types of introductions provide an overview of what Eightcap offers traders. The Eightcap minimum deposit for all live trading accounts is $100 or a currency equivalent, as the platform supports seven account base currencies.
Eightcap Account types – Key Points
1. Trusted broker
2. Easy account application and user-friendly back office
3. Seven account base currencies
4. 17 deposit currencies from 13 payment processors
5. Well-balanced asset selection
6. Deep liquidity, high leverage, and excellent order execution
7. Upgraded trading platforms
8. Capitalise AI
9. Eightcap demo account
Eightcap Standard Account
The Eightcap Standard account is a commission-free option, but its trading fees are in a higher range. Minimum costs start from spreads of 1.0 pips or $10.00 per 1.0 standard round lot, and all trading instruments are available, including algorithmic and copy trading support.
The margin call level is 80%, and the automatic stop-out level is 50%. Traders have a minimum transaction volume of 0.01 lots per order ticket with a maximum of 100.00 lots. The Eightcap minimum deposit is $100, the same as for the Eightcap Raw account.
Eightcap Raw Account
The Eightcap Raw account is a competitively priced trading account, which features everything the Standard option does, but with notably lower trading fees. Traders get raw spreads from 0.0 pips for a commission of $7.00 per 1.0 standard round lot, charged at $3.50 per side, for minimum costs of $7.00.
Eightcap Demo Account
The Eightcap demo account is available to all traders and is opened from within the MT4/MT5 trading platforms but is initially restricted to 30 days. Traders can request extensions by contacting customer support. A demo account allows beginners to evaluate whether the trading platform meets their needs, while seasoned traders can evaluate strategies, copy traders can tryout signal providers, and algorithmic traders can attempt bug-fix trading solutions without risking any capital.
Conclusion:
- The Eightcap Demo account offers flexibility with the demo account balance and leverage, and trades should select one similar to their planned live account settings
Eightcap Account Opening - Step by Step
Traders can open an Eightcap trading account via the online application form in less than 20 seconds. Account verification is mandatory to comply with regulatory-stipulated AML/KYC requirements. Most traders will satisfy account verification by sending a copy of their government-issued ID and one proof of residency document.
Below is a step-by-step guide on how to open your Eightcap trading account:
- Go to the Eightcap website and click the green “Create Account” button.
- Applicants must provide their country of residence, name, e-mail, desired password, and a valid mobile phone number to complete their account registration.
- Eightcap will send a verification e-mail, and clicking it grants traders access to the back office. Traders will receive a second welcome e-mail, which includes login details for their trading account.
- Traders must verify their Eightcap trading account by sending a copy of a government-issued ID and one proof of residency document. While Eightcap may ask for additional information on a case-by-case basis, most traders will pass the verification process with the above documents.
- Making the Eightcap minimum deposit of $100 or above completes the account registration set-up, and clients can start trading all available assets.
The following table includes a list of restricted countries unable to open an Eightcap trading account:
Afghanistan | Albania | American Samoa | Bahamas | Belarus |
|---|---|---|---|---|
Burundi | Central African Republic | Congo | Cyprus | Eritrea |
Guam | Guinea-Bissau | Haiti | Iran | Iraq |
Japan | North Korea | Kosovo | Lebanon | Libya |
Mali | Myanmar | Nicaragua | Northern Mariana Islands | Pakistan |
Palestine | Puerto Rico | Saint Helena | Ascensión and Tristán da Cunha | Somalia |
South Sudan | Sudan | Syria | Tristan Da Cunha | Ukraine |
United States | United States Minor Outlying Islands | Vanuatu | Venezuela | US Virgin Islands |
Western Sahara | Yemen | Zimbabwe |
What is the Difference Between a Raw and a Standard Account with Eightcap? H2
The sole difference between the two Eightcap account types is the cost structure. The Raw account is competitively priced, featuring spreads from 0.0 pips for a commission of $7.00 per 1.0 standard round lot or $3.50 per side. Meanwhile, the Standard option is commission-free but has higher trading costs, commencing from 1.0 pips or $10.00 per 1.0 round lot. Except for trading costs, the Raw and Standard accounts remain similar.
Eightcap Account Features
Knowing the core Eightcap trading accounts and features allows traders to compare them to other brokers and select the most suitable option.
The core Eightcap trading account features are:
- Competitive trading costs in the Raw account
- Seven account base currencies
- 17 deposit and withdrawal currencies, including three cryptocurrencies
- 13 payment processors
- Deep liquidity, high leverage, and excellent order execution
- Upgraded MT4/MT5 trading platforms with full support for algorithmic and copy trading
- VPS hosting for algorithmic traders requiring low-latency 24/5 market access
Eightcap Demo Account
Eightcap offers a demo account but restricts use to 30 days by default. Traders may contact customer support to ask for an extension, but it remains unclear if Eightcap offers unlimited demo account extensions or limits them.
Traders can open their MT4/MT5 demo accounts directly from the trading platform. Given the flexibility in the registration process, traders should select a demo account balance and leverage similar to what they plan for their Eightcap live trading account.
Beginner traders can evaluate the Eightcap trading environment in the Eightcap demo account. Seasoned traders can tweak and test strategies, while copy traders can follow signal providers to collect performance data, and algorithmic traders can use the demo account to bug-fix trading solutions. It is essential to know the limitations of demo trading, such as the absence of exposure to trading psychology, which can create unrealistic trading expectations or foster a false sense of accomplishment.
Pros and Cons of Eightcap Account Types
Traders must consider the pros and cons of the Eightcap account types before opening and funding one.
Pros of Eightcap Account Types | Cons of Eightcap Account Types |
|---|---|
Well-trusted broker with over a decade of experience and 13 payment processors | Islamic account unavailable |
Competitive trading costs in the commission-based Raw account | |
Deep liquidity, high leverage, and excellent order execution | |
Seven account base currencies and 17 deposit/withdrawal currencies |
Eightcap Account Types Bottom Line
The two Eightcap account types, Standard and Raw, are identical, except for trading costs, where the former is more than 30% cheaper in a competitively priced commission-based pricing environment.
Eightcap is ideal for demanding algorithmic traders, scalpers, and high-frequency strategies. It offers deep liquidity for tight spreads, high leverage and negative balance protection for flexibility, and excellent order execution for increased profitability.
Eightcap supports seven account base currencies, 17 deposit and withdrawal currencies, and 13 payment processors. Boasting over a decade of operation, and a clean regulatory record in multiple jurisdictions, Eightcap and its Raw account are among the most trusted and competitive trading accounts industrywide. After registering for a live trading account, traders can open their demo account from the MT4/MT5 trading platforms. Eightcap does offers its Raw account, which requires a minimum deposit of $100, equal to the more expensive Standard option. Eightcap does not offer an Islamic account but may introduce it in the future as it expands its market share. Eightcap does not offer a bonus account. However, this may change in the future. The commission-based Raw account is the most competitive Eightcap trading account due to its significantly lower trading costs. Eightcap has a demo account but initially restricts usage to just 30 days. Traders may request an extension by contacting customer support.FAQs
How can I open a demo account at Eightcap?
Does Eightcap offer a Raw account?
Does Eightcap offer an Islamic account?
Does Eightcap offer a bonus account?
Which account type is best for Eightcap?
Does Eightcap have a demo account?