Eightcap Singapore Review

Eightcap Review in Singapore

Eightcap is a well-established forex and CFD broker that has extended its global presence to Singapore. Operating under stringent regulatory standards, it offers a reliable and secure trading platform to both novice and experienced traders in the region. Eightcap Singapore provides a broad range of financial instruments, including forex, indices, shares, and commodities. Its advanced technological infrastructure, combined with the MetaTrader platform, ensures fast execution speeds and a seamless trading experience. Furthermore, with its commitment to transparency and customer service, Eightcap has quickly earned a strong reputation among the trading community in Singapore. In this Eightcap review in Singapore, we will learn more about the broker’s advantages, features, and more.

Eightcap Singapore Review

Eightcap Account Types

Eightcap broker is a financial trading platform that offers different types of accounts to its users. Each account has its unique features and distinct requirements.

  • Raw Account – To open this type of account, you need to make a minimum deposit of $100. This account provides access to over 800 trading instruments. It offers 0.0 pips spread which is a significant advantage to traders as it means there are no spreads on the trades. Another striking feature of this account type is that it allows scalping. Scalping is a trading strategy that aims to achieve profits from small price changes.
  • Standard Account – Like the Raw Account, it requires a minimum deposit of $100. However, unlike the Raw Account, it does not charge any commission on trades. It also offers access to over 800 trading instruments and allows scalping. The Standard Account has a slightly higher spread than the Raw Account, with 1.0 pips.
  • TradingView Account – This account also requires a minimum deposit of $100 and does not charge any commission on trades. It has 1.0 pips spread and provides access to over 800 trading instruments. Similar to the other account types, scalping is also allowed in the TradingView Account.

In summary, Eightcap forex offers versatile account types to cater to different trading needs. Whether you prefer a zero-spread trading environment or a no-commission model, there is an account that suits your preferences.

Eightcap Demo Account

The Eightcap demo account is a feature offered by Eightcap, a globally recognized Forex and CFD broker. This demo account is designed to provide prospective clients with a risk-free platform to explore and understand the dynamics of online trading. It offers virtual funds, enabling users to practice trading strategies, analyze market trends, and familiarize themselves with the platform’s interface without risking real money. The Eightcap demo account is excellent for beginners and experienced traders who want to test new strategies or get used to the platform before diving into live trading.

Eightcap Account Types Singapore

Available Financial Instruments with Eightcap Singapore

Eightcap Singapore offers a variety of tradeable assets which include:

  • Forex CFDs: These are contracts for differences based on the foreign exchange market. This type of trading allows traders to speculate on the rising or falling prices of fast-moving global currency markets. Some of the popular currency pairs offered by Eightcap Singapore may include EUR/USD, GBP/USD, and USD/JPY among others.
  • Commodity CFDs: These are contracts that allow traders to speculate on the price of commodities without having to own the physical commodity themselves. The commodities could include oil, gold, silver, natural gas, and various agricultural products like wheat or coffee.
  • Crypto CFDs: Crypto CFDs allow traders to speculate on the price of cryptocurrencies such as Bitcoin, Ethereum, and Ripple without actually owning the cryptocurrency. This form of trading offers the potential for profits regardless of whether the market is rising or falling.
  • Index CFDs: Index CFDs, or contracts for difference, allow traders to invest in an entire index, such as the S&P 500, rather than having to buy shares in each individual company. This allows for a diversified investment with less research required.
  • Share CFDs: Share contracts for difference (CFDs) are a type of derivative product that allows traders to speculate on the rise and fall of fast-moving share prices. Traders can profit from price movements without owning the shares of the company. This can include shares from major companies globally.
Eightcap Singapore Trading Assets

Eightcap Deposit Options in Singapore

Eightcap, a well-known forex and CFD broker, offers a variety of deposit options for traders in Singapore. Here are some of the options available:

  • Credit/Debit Card: Eightcap accepts both Visa and Mastercard. This method is instant and allows traders to fund their accounts quickly.
  • Bank Wire Transfer: Traders can transfer funds directly from their bank account to their Eightcap account. However, this method may take a few business days to process.
  • E-Wallets: Eightcap broker accepts payments from various e-wallets like Skrill, Neteller, and Poli. This method is also instant, making it a quick and easy way to fund your trading account.
  • Broker to Broker Transfer: If you have an account with another broker, you can transfer funds from that account to your Eightcap account.
  • BPAY: This is an electronic bill payment system in Australia and can be used by traders in Singapore to fund their Eightcap accounts.
  • Union Pay: This is a popular payment method in China but is also available to traders in Singapore.
  • FasaPay: This is an Indonesian payment system that can be used by traders in Singapore to deposit funds into their Eightcap accounts.

Please note that the availability of these deposit options may vary depending on the trader’s location, and some may come with transaction fees. Always check the specific terms and conditions of each deposit method before making a decision. The Eightcap minimum deposit amount is $100 for all account types.

Eightcap Withdrawal Options in Singapore

Eightcap offers a variety of withdrawal options for its clients in Singapore. These options are designed to provide you with a high level of flexibility and convenience. Here are the options available:

  • Credit/Debit Card: This is one of the most common ways to withdraw funds from Eightcap forex. The broker accepts major cards such as Visa and MasterCard. The process is usually straightforward, and funds are typically received within 2-5 business days.
  • Bank Wire Transfer: You can also withdraw your funds directly to your bank account. While this method might take a bit longer (typically 3-5 business days), it is a reliable method, and it’s available with most banks in Singapore.
  • E-Wallets: Eightcap also supports several popular e-wallets, including Skrill, Neteller, and PayPal. These options often offer faster withdrawal times compared to traditional bank transfers and cards.
  • Local Bank Transfer: Some Singaporean banks are part of Eightcap’s local bank transfer network. This allows for faster and cheaper withdrawals compared to international bank wire transfers.

As for the Eightcap minimum withdrawal amount, a limit was set to ensure the brokerage can cover its transaction costs. For credit/debit card and e-wallet withdrawals, the minimum amount is usually $50. For bank wire transfers, the minimum amount is typically $100.

Please note, that it’s always essential to check with Eightcap broker directly for their most recent withdrawal options and any associated fees. It’s also crucial to ensure that your account is fully verified before attempting to make a withdrawal.

Trading Platforms

Eightcap Singapore provides a variety of trading platforms for its clients to choose from, in order to suit their different trading needs and preferences. These platforms include:

  • TradingView: This is a cloud-based charting and social networking software that offers a wide array of features for technical analysis and trading. It offers customizable charts, real-time data, various technical analysis tools, and even the ability to connect with other traders for insights and ideas.
  • MetaTrader 5 (Eightcap MT5): MT5 is a multi-asset platform that allows trading Forex, stocks, futures, and CFDs. It provides tools and features that can enhance your trading experience, such as advanced technical analysis, flexible trading systems, algorithmic trading, and Expert Advisors.
  • MetaTrader 4 (Eightcap MT4): MT4 is one of the most popular trading platforms in the world. It is recognized for its user-friendly interface, advanced charting capabilities, technical analysis tools, and the ability to automate trading strategies with Expert Advisors (EAs).
  • WebTrader: WebTrader is an in-browser trading platform that allows users to trade directly from their web browser without the need to download or install any software. It provides access to real-time quotes, live charts, and various order types. It is simple to use and is accessible from any device with an internet connection.

Each of these platforms offers unique features that cater to different types of traders. Whether you prefer a simple, web-based platform or a more advanced, downloadable option, Eightcap Singapore has a solution to meet your trading needs.

Trading Tools

Eightcap Trading Tools is a suite of tools designed for traders looking to enhance their trading experience. The tools provide in-depth analysis, real-time data, and comprehensive insights to help traders make informed decisions.

  • The AI-powered Economic Calendar is a tool within this suite that uses artificial intelligence to predict and analyze market trends based on economic events. It takes into account various factors such as GDP, unemployment rates, consumer price index, etc. to predict market movements. This tool provides real-time updates, helping traders stay ahead of the curve.
  • Capitalise.ai is another tool in the Eightcap Trading Tools suite, which is an automated trading platform that allows traders to automate their trading strategies without needing any coding skills. It uses AI to monitor and execute trades based on the parameters set by the user.
  • FlashTrader is a high-speed trading platform, also a part of the Eightcap Singapore Trading Tools suite, that is designed for active traders. It offers advanced features such as rapid execution of trades, real-time data streaming, advanced charting tools, and more. It is built to handle the high demands of active trading, providing speed, reliability, and flexibility.

In summary, these tools combined provide a comprehensive trading solution, leveraging AI and advanced technology to enhance trading efficiency and effectiveness.

Eightcap forex Insights Features

Eightcap Insights provides expert analysis and insights into the latest trends and developments in the trading market. It will help traders to understand the market dynamics and make informed decisions.

  • Trade Zone: This is a dedicated space for traders to interact, share their experiences, and learn from each other. It has various tools and resources to help traders in their trading journey.
  • Labs: This section is focused on research and development in the trading field. It includes various experiments, studies, and projects that aim to improve trading strategies and techniques.
  • Events and Webinars: These are educational events that provide traders with an opportunity to learn from experts and professionals in the trading field. The webinars cover various topics related to trading and are designed to enhance the knowledge and skills of traders.
  • Trading Week Ahead: This section provides a forecast of the upcoming trading week. It includes predictions about market trends, potential opportunities, and challenges that traders may face in the coming week.
  • Trading Outlook: This gives an overview of the current trading environment. It includes information about market trends, economic indicators, and other factors that may affect the trading market.
  • Trade Ideas: Here, traders can find innovative and effective trading ideas. These ideas are based on market analysis and can help traders to formulate their trading strategies.

Eightcap is legal in Singapore

Is Eightcap Legit in Singapore?

Eightcap forex  is a legitimate and trusted financial services provider in Singapore. This Australian-based company is fully regulated and licensed under the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK. Eightcap broker offers secure, reliable, and efficient trading services in Singapore, catering to both beginner and expert traders. Its services include forex trading, indices, commodities, and shares. As a testament to its legitimacy, Eightcap forex has garnered positive reviews from its users for its transparent operations, user-friendly platform, and excellent customer service.

Is Eightcap Singapore safe to trade with?

Eightcap is a reputable and trustworthy trading platform that offers a safe trading environment for individuals in Singapore. It operates under strict regulations set by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC), both known for their high standards of financial governance. Eightcap ensures the security of funds with segregated accounts, meaning client funds are kept separate from the company’s operational funds. Furthermore, it employs high-level encryption technology to protect clients’ personal and financial information from unauthorized access. Therefore, it can be confidently stated that Eightcap forex is safe to trade with in Singapore.

Eightcap Review in Singapore – Conclusion

In conclusion, the Eightcap review in Singapore suggests that it is indeed a reliable and efficient trading platform. It offers a range of trading instruments such as forex, commodities, indices, and cryptocurrencies, catering to the diverse needs of traders. The platform’s user-friendly interface, competitive spreads, and robust security measures have garnered positive feedback from its users. Moreover, the provision of educational resources and excellent customer service further enhances the trading experience. However, potential users are advised to conduct their own research and understand the risks involved in trading before getting started.

Eightcap forex broker envisions a promising future in Singapore’s thriving forex market. With Singapore being one of the biggest forex trading hubs in the world, Eightcap broker has the potential to expand its client base, leverage advanced trading technologies, and tap into the city-state’s robust regulatory framework. The company’s continued emphasis on offering competitive spreads, a wide range of trading instruments, high-speed execution, and superior customer service may well position it as a top choice for forex traders in Singapore. Additionally, Eightcap’s commitment to security and regulatory compliance aligns with Singapore’s strict financial standards, further boosting its prospects in this market.