General Information

Eightcap is a popular online forex and CFDs broker that offers access to trade various financial markets. The broker was founded in 2009 in Melbourne, Australia, and has since expanded its presence to other regions such as Europe, Asia, and the Middle East. Eightcap prides itself on providing a user-friendly trading experience, robust trading platforms, and competitive trading conditions for its clients.

The broker offers a wide range of financial instruments to trade, including 800+CFDs on forex, commodity, crypto, index, and share. Clients can access these markets through the popular trading platforms, MetaTrader 4, MetaTrader 5, and TradingView. The broker also offers three types of account types to suit the individual needs of its clients, including Standard, Raw and TradingView, with the minimum deposit requirement of $100.

Pros and Cons

Eightcap is a global forex and CFD broker offering many features and benefits that make it an attractive choice for traders of all levels. One of the primary advantages of Eightcap is its range of trading instruments, including CFDs on forex, commodity, crypto, index, and share. This diversity allows traders to take advantage of a wide range of market opportunities and build diversified portfolios.

In addition to its broad range of trading instruments, Eightcap also offers competitive trading conditions, such as tight spreads and low commissions, which can help traders maximize their profits. The broker also provides access to multiple trading platforms, including MetaTrader 4 and 5, as well as TradingView.

While there are many benefits to trading with Eightcap, there are also some drawbacks to consider. One of these is the limited selection of educational resources, which may be a disadvantage for novice traders. Additionally, the broker does not currently offer social trading options and 24/7 customer support.

Is Eightcap Legit?

Yes, Eightcap is considered a legitimate broker, regulated by reputable financial authorities including ASIC (Australia), FCA (UK), CySEC (Cyprus), and SCB (Bahamas). These regulatory bodies impose strict rules and regulations on the broker to ensure they operate in a fair and transparent manner, thereby providing traders with a safe and secure trading environment.

EIGHTCAP PTY LTD, its Australian entity, is authorized and regulated by the Australia Securities & Investment Commission (ASIC) under the regulatory license number 391441.

Eightcap EU Ltd, is regulated by the Cyprus Securities and Exchange Commission (CYSEC) under license no. 246/14.

Eightcap Group Ltd, its UK entity, is authorized and regulated by the Financial Conduct Authority (FCA) under the regulatory license number of 921296.

Eightcap Global Limited, the international entity, is authorized and offshore regulated by the Security Commission of the Bamas (SCB) under the regulatory license number of SIA-F220.

Market Instruments

800+ CFDs on forex, commodity, crypto, index, share... EightCap allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on EightCap.

Account Types

Live Accounts: EightCap offers three types of accounts at EightCap: Raw, Standard and TradingView accounts. All require a moderate minimum deposit of 100 USD, which is quite friendly for beginners. Their most relevant differences consist in the spreads, the raw account has a lower spread. Standard and TradingView accounts offers a commission-free trading environment, yet compensated by wider spreads, while Raw accounts offers raw spreads, accompanied by additional commissions.

The Raw Account is designed for traders seeking tight spreads and transparent pricing. With a minimum deposit of $100, traders can access over 800 instruments with spreads starting from 0.0 pips. However, a commission is charged on each side of the trade, ranging from $3.5 for major currencies like AUD, USD, NZD, SGD, and CAD, to $2.25 for GBP and $2.75 for EUR per standard lot traded. This account type allows scalping and supports a wide range of base currencies, including AUD, USD, EUR, GBP, NZD, CAD, and SGD. The minimum trade size is 0.01 lots, with a maximum of 100 lots.

The Standard Account is designed for traders seeking a more straightforward pricing structure. With a minimum deposit of $100, traders can access over 800 instruments with spreads starting from 1.0 pips. No commissions are charged, making it a cost-effective option for traders who prefer to pay through the spread. Like the Raw Account, the Standard Account allows scalping, supports multiple base currencies, and offers the same minimum and maximum trade sizes, margin call levels, and stop-out levels.

The TradingView Account is a unique offering that integrates with the popular TradingView platform. With a minimum deposit of $100, traders can access over 800 instruments with spreads starting from 1.0 pip and no commissions charged. This account type is suitable for traders who prefer to use the TradingView platform for analysis and trading. Similar to the other account types, the TradingView Account allows scalping, supports a wide range of base currencies, and offers the same minimum and maximum trade sizes, margin call levels, and stop-out levels.

Demo Accounts

Aside from two types of live trading accounts, Eightcap offers a 30-day demo account for traders who want to practice and test their trading strategies without risking real money. The demo account is free and is designed to simulate real market conditions, allowing traders to get a feel for the platform and instruments before they start trading with a live account. The demo account is funded with virtual money and offers access to the same features as the live account, including a range of instruments and trading platforms.

Leverage

The maximum leverage is determined by the regulator; the maximum ASIC leverage is only 1:30, but the Bahamas SCB allows a leverage of 1:500. However, other trading conditions may vary accordingly and you can decide for yourself.

High leverage is ideal for active traders and scalpers, as it presents greater trading flexibility in general, which directly impacts profitability, but new users are advised to operate with caution with such large leverage.

Spreads and Commissions

Eightcap offers competitive spreads and commissions on their trading instruments. The spreads on forex pairs start from as low as 0.0 pips on the Raw account and 1.0 pips on the Standard account. The commissions charged on forex trades start from $3.50 per lot round trip on the Raw account and there are no commissions on the Standard account.

For indices, the spreads start from 0.5 pips on the Raw account and 1.0 pips on the Standard account.There are no commissions charged on indices trading. The spreads on commodities trading start from 0.03 pips on the Raw account and 0.5 pips on the Standard account, and there are no commissions charged on commodities trading. The spreads and commissions may vary depending on market conditions and the type of account held by the trader.

Non-Trading Fees

Eightcap charges non-trading fees, which are fees not directly related to trading, such as deposit and withdrawal fees, inactivity fees, and currency conversion fees.

For deposits, Eightcap does not charge any fees, but there may be fees charged by the payment provider or bank. Withdrawals made via bank transfers are free, but there is a fee of $10 for withdrawals via credit/debit cards.

Additionally, Eightcap charges an inactivity fee of $50 per quarter if there are no trades or account activity for a period of 90 days or more. It's important to note that this fee is only charged if there are sufficient funds in the account, and it does not apply to demo accounts.

Eightcap also charges a currency conversion fee of 0.5% for clients who deposit or withdraw in a currency other than their account base currency. This fee can be higher for certain currencies, so it's important to check with Eightcap for the exact fee amount.

Trading Platforms

Eightcap offers multiple trading platforms, including the popular MetaTrader 4, MetaTrader 5, and Tradingview. These platforms are known for their user-friendly interface and advanced charting tools. Additionally, Eightcap also provides a web-based trading platform that can be accessed from any device with an internet connection. This platform is ideal for traders who prefer a simpler interface or who don't want to download and install software on their device.

With the MetaTrader platforms, Eightcap offers a range of customizable features, including the ability to use custom indicators and expert advisors. These platforms also provide access to real-time market data and allow traders to execute trades quickly and efficiently. Traders can also use the platforms to set up automated trading strategies, which can be particularly useful for those who want to trade around the clock.

EightCap's TradingView leverages 15+ customizable chart types, including Kagi, Renko, and Point & Figure. Organize up to 8 synchronized charts per tab and utilize 90+ smart drawing tools for comprehensive analysis.

Furthermore, Eightcap's web-based trading platform is designed to offer a streamlined trading experience. It includes essential features such as real-time market news, customizable charts, and advanced order types. The platform also offers access to a range of educational resources, including trading videos, webinars, and tutorials, which can be helpful for new traders looking to improve their skills.

Deposit and Withdrawal

Eightcap offers a variety of deposit and withdrawal methods, such as MasterCard, Visa, PayPal, Wire Transfer, BPAY, Skrill, Neteller, etc. (vary on the region). You can find more detailed info in the table below:

Customer Support

Eightcap offers live chat, phone, and email. Their live chat feature is available 24/5, which means clients can get instant assistance whenever they need it. Phone support is available during business hours, and email support promises a response within 24 hours.

In addition, Eightcap has an extensive FAQ section on its website that covers various topics, such as account opening, trading platforms, funding and withdrawals, and trading conditions.

Conclusion

In conclusion, Eightcap seems like a solid choice for traders looking for a reliable broker with a wide range of instruments, competitive pricing, and user-friendly platforms. Their customer support is also top-notch, with various ways to get in touch and a comprehensive FAQ section. While their educational resources may not be as extensive as some other brokers, they still provide useful tools and market analysis to help traders stay informed. The only potential downside is the lack of proprietary trading platforms, but with MT4, MT5, and TradingView available, there's still plenty of options to choose from.

FAQs

Is Eightcap regulated?

Yes, Eightcap is regulated by ASIC, FCA, CySEC, and SCB (Offshore).

What trading platforms does Eightcap offer?

Eightcap offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView.

What are the minimum deposit requirements for Eightcap?

The minimum deposit requirement for Eightcap's Standard account is $100.

What is the maximum leverage available at Eightcap?

Up to 1:500.

Can I open a demo account with Eightcap?

Yes, Eightcap offers a 30-day demo account that allows traders to practice their trading strategies without risking real money.

What financial instruments can I trade at Eightcap?

You can trade CFDs on forex, commodity, crypto, index, and share on Eightcap.

Risk Warning

Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

What is One Financial Markets？

One Financial Markets is an online forex and CFDs broker, founded in 2007 and headquartered in London, UK. It offers access to a wide range of tradable instruments, including forex, commodities, indices, stocks, and CFDs through the MT4/5 trading platforms. The company is currently under the supervision of the UK Financial Conduct Authority (FCA), with regulation number 466201.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

One Financial Markets offers several advantages such as being regulated by the United Kingdom Financial Conduct Authority (FCA), providing a wide range of tradable instruments, and offering multiple trading platforms including MT4 and MT5. They also provide competitive spreads and leverage options, as well as dedicated customer support and educational resources for traders.

However, it's important to be cautious due to reports of withdrawal issues and scams associated with the company. Traders should carefully review the available information and consider the associated risks before engaging with One Financial Markets.

One Financial Markets Alternative Brokers

There are many alternative brokers to One Financial Markets depending on the specific needs and preferences of the trader. Some popular options include:

• FXCM - A well-established and reputable broker with a range of trading instruments and platforms, suitable for both beginner and advanced traders.

• CMC Markets - A trusted broker offering a wide range of tradable instruments, advanced trading tools, and comprehensive research, making it a good choice for traders of all levels.

• Darwinex - A unique broker that combines social trading with investment strategies, allowing traders to follow successful strategies and potentially profit from them, making it a compelling option for those seeking innovative trading approaches.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is One Financial Markets Safe or Scam？

One Financial Markets, being regulated by the United Kingdom Financial Conduct Authority (FCA, License No. 466201) with a valid license, provides a level of credibility and accountability. Regulatory oversight helps ensure that the broker operates in compliance with established standards, including client fund protection and fair trading practices. However, it is always recommended for traders to conduct their due diligence, review available information, and consider their own risk tolerance before engaging with any broker.

Market Instruments

One Financial Markets offers a diverse range of market instruments for traders to access various financial markets. Forex trading is available, allowing traders to participate in the global currency exchange market. Additionally, they provide CFDs (Contracts for Difference) on shares, enabling traders to speculate on the price movements of individual stocks without owning the underlying assets. Traders can also trade CFDs on indices, giving them exposure to a basket of stocks representing a specific market or sector.

In addition, One Financial Markets offers CFDs on bullion, allowing traders to trade gold and silver. Commodity CFDs are available for trading various commodities such as oil, gas, agricultural products, and more. Energies such as crude oil and natural gas are also tradable instruments. Lastly, One Financial Markets offers CFDs on cryptocurrencies, providing traders with the opportunity to speculate on the price movements of popular digital assets like Bitcoin, Ethereum, and others. With this wide range of market instruments, traders can diversify their portfolios and capitalize on various market opportunities.

Accounts

As for accounts, all clients are given access to a demo account and a live trading account. The demo account is an excellent tool for clients to test trading environment and practice their trading strategies. The demo accounts come preloaded with a virtual fund of $10,000, allowing traders to simulate trading in real market conditions.

On the other hand, One Financial Markets also offers live trading accounts with no minimum deposit requirement, making it accessible for traders with different investment budgets. This feature enables traders to start trading with the amount they are comfortable with and gradually increase their trading capital as they gain confidence and experience. By offering both demo and live accounts, One Financial Markets caters to the needs of traders at different skill levels and investment capacities.

Leverage

With One Financial Markets, the maximum trading leverage that can be used is up to 400:1, a generous offering. Leverage allows traders to amplify their trading positions by borrowing funds from the broker. With a high leverage ratio like 400:1, traders can control larger positions in the market with a relatively smaller amount of capital. This can potentially increase both profits and losses.

While higher leverage offers the opportunity for greater gains, it also comes with increased risk. Traders need to exercise caution and have a solid risk management strategy in place when utilizing leverage. One Financial Markets' competitive leverage offerings enable traders to have more flexibility and potential trading opportunities, but it's essential to understand the associated risks and trade responsibly.

Spreads & Commissions

One Financial Markets provides floating spreads. As per its LIVE PRICES section, the minimum spreads on the benchmark of the EUR/USD pair is 1.0 pips, which is in line with the industry standards. You can refer to the provided information or screenshots for detailed insights. The spread is the difference between the buy and sell price of a financial instrument, and it represents the cost of trading for traders. Lower spreads can result in reduced trading costs and potentially enhance profitability.

The absence of commissions further adds to the cost-effectiveness of trading with One Financial Markets. One Financial Markets' transparent approach to spreads and commission-free trading ensures that traders can focus on their strategies without incurring additional charges, making it an attractive choice for cost-conscious traders.

Below is a comparison table about spreads and commissions charged by different brokers:

Please note that the spread and commission values mentioned above are for indicative purposes and can vary based on market conditions and account type. It's always recommended to check with the respective brokers for the most up-to-date and accurate information.

Trading Platforms

One Financial Markets offers a range of popular trading platforms to cater to the diverse needs of traders. The MetaTrader 4 (MT4) platform is available for desktop, web, and mobile devices, providing a user-friendly and feature-rich trading experience. MT4 is renowned for its extensive charting capabilities, advanced order types, and a wide range of technical indicators and analysis tools, empowering traders to make informed trading decisions.

Additionally, One Financial Markets also offers the MetaTrader 5 (MT5) platform, which is the successor to MT4 and includes enhanced features such as additional timeframes, depth of market functionality, and improved backtesting capabilities.

With the availability of MT4 and MT5 across multiple devices, traders have the flexibility to access and manage their accounts seamlessly from anywhere, ensuring a convenient and efficient trading experience with One Financial Markets.

See the trading platform comparison table below:

Deposits & Withdrawals

One Financial Markets offers a variety of convenient and secure methods for depositing and withdrawing funds. Traders can choose from options such as UK bank transfers, international SWIFT bank wire transfers, credit/debit cards, Neteller, and Skrill.

One Financial Markets minimum deposit vs other brokers

The accepted currencies, minimum deposit/withdrawal amounts, deposit/withdrawal fees, and processing times may vary depending on the chosen method. It is advisable for traders to review the specific details provided by One Financial Markets regarding each payment option to ensure a smooth and efficient deposit/withdrawal process. More details can be found in the below screenshot:

See the deposit/withdrawal fee comparison table below:

One Financial Markets Money Deposit

To deposit funds from your One Financial Markets account, you need to follow these steps:

Step 1: Login to your portal and click on the 'Transfers' tab at the top of the screen

Step 2:Click on 'Internal Transfers' on the right hand side

Step 3: Select your landing account by clicking on the 'From Account' drop down option

Step 4: Select your trading account by clicking on the 'To Account' drop down option

Step 5: Enter the amount you wish to transfer (you can move the entire balance or just a portion of it) in the 'Amount' field

Step 6: Click “submit”

Fees

One Financial Markets applies fees based on specific payment methods and account activity. The deposit and withdrawal fees may vary depending on the chosen payment method, and it is recommended to refer to the company's official website for detailed information on the applicable fees.

Additionally, One Financial Markets implements an annual dormant account fee of $25/€20/£20 if there are no open positions and no activity on the account for a period of 12 months or more. This fee is deducted from the account balance. Traders should review and understand the fee structure of One Financial Markets to make informed decisions regarding their trading activities and account management.

Customer Service

One Financial Markets places a strong emphasis on providing comprehensive customer support to its clients. Traders have access to 24/5 multilingual support through various channels, including live chat, phone, email, and online messaging.

The company also offers an FAQ section on its website, which can provide quick answers to common queries. Additionally, clients can stay connected with One Financial Markets through social media platforms such as Twitter, Facebook, and Instagram, allowing them to receive updates and engage with the broker's community.

The transparency displayed by One Financial Markets is reflected in its openly revealed company address, which adds to the trust and accessibility of their customer service.

Note: These pros and cons are subjective and may vary depending on the individual's experience with One Financial Markets' customer service.

User Exposure on WikiFX

On our website, you can see that some reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Education

One Financial Markets provides a range of educational resources and tools to support traders in their learning journey. Traders can access Trading Central, which offers market analysis, research, and trading signals to assist with informed decision-making. The platform also offers the One Indicator, a proprietary tool designed to identify potential trading opportunities.

Additionally, traders can benefit from MT4 expert advisors, which are automated trading systems that can execute trades based on pre-defined strategies. The trading glossary serves as a valuable reference, explaining key trading terms and concepts. One Financial Markets also offers access to the Yasmeen Society, which provides educational materials, market insights, and expert guidance.

Traders can further enhance their knowledge and skills by exploring various investment strategies. Lastly, the platform organizes live trading seminars, allowing traders to learn from industry professionals and gain practical insights into the markets. Overall, One Financial Markets aims to empower traders with educational resources and support to enhance their trading proficiency.

Conclusion

On the whole, One Financial Markets is a regulated brokerage that offers a wide range of tradable instruments and multiple trading platforms, making it a viable option for traders. They provide competitive spreads and leverage options, along with dedicated customer support and educational resources. However, it's crucial to exercise caution as there have been reports of withdrawal issues and scams associated with the company. Traders should carefully consider the available information and assess the associated risks before choosing One Financial Markets as their brokerage.

Frequently Asked Questions (FAQs)