EIGHT PLUS CAPITAL Forex Broker

Aspect Information Registered Country/Area Cyprus Company Name Eight Plus Capital Ltd (previously Acier FX Ltd) Regulation CYSEC Minimum Deposit $200 (USD or EUR) Maximum Leverage Up to 1:100 (for professional traders) Spreads Variable, starting from 0.1 pips Trading Platforms MetaTrader 4 (MT4) for Windows and Mac Tradable Assets CFDs, Forex, Cash Indices, Spot Metals, Cash Energies, Stocks, Cryptocurrencies Account Types Various account types available with different features Demo Account Available Islamic Account Available upon request Customer Support 24/5 support via email and phone Payment Methods Bank Wire, Skrill, Neteller Educational Tools None Overview Eight Plus Capital Ltd, operating under the name Eightplus.com, is a brokerage firm headquartered in Cyprus and regulated by CYSEC. The company offers a range of trading services, with a minimum deposit requirement of $200 in either USD or EUR. Traders can access a maximum leverage of up to 1:100 for professional trading. The broker provides variable spreads starting from 0.1 pips and utilizes the MetaTrader 4 (MT4) platform for both Windows and Mac users. Eightplus.com offers a diverse selection of tradable assets, including CFDs, Forex, Cash Indices, Spot Metals, Cash Energies, Stocks, and Cryptocurrencies. The brokerage caters to various trader preferences with its range of account types and supports demo and Islamic accounts upon request. Customer support is available 24/5 through email and phone, and the broker accepts payment methods such as Bank Wire, Skrill, and Neteller. However, it's important to note that the company does not provide specific educational tools for traders. Regulation Eight Plus is regulated by CYSEC, ensuring that the company complies with established financial industry standards and safeguards for investors. This regulatory oversight provides clients with added confidence and trust in their financial services. CYSEC's supervision helps maintain transparency and accountability within the organization. Pros and Cons Pros Cons Regulated by CYSEC, ensuring transparency Absence of educational resources Diverse range of market instruments Potential withdrawal fees for certain methods Competitive spreads and flexible leverage options Limited information regarding customer support User-friendly MetaTrader 4 trading platform 24/5 customer support availability Eightplus.com presents several advantages for traders, including regulatory oversight, a wide selection of market instruments, competitive spreads, flexible leverage options, and a user-friendly MetaTrader 4 platform. The availability of 24/5 customer support enhances the trading experience. However, the absence of educational resources and potential withdrawal fees for specific methods are areas where traders should exercise caution and seek external educational materials as needed. Market Instruments Contracts for Difference (CFDs): CFDs are versatile financial derivatives that enable traders to speculate on the price movements of various underlying assets without owning them. This means that traders can potentially profit from both rising and falling markets, making CFDs a valuable tool for portfolio diversification and risk management. Forex (Foreign Exchange): Forex trading involves the exchange of currency pairs, allowing traders to profit from fluctuations in exchange rates. It's a highly liquid market that operates 24 hours a day, providing ample opportunities for traders to engage in short-term and long-term trading strategies. Cash Indices: Cash indices represent the performance of specific groups of stocks within a particular market. Trading cash indices offers traders exposure to broader market trends without the need to trade individual stocks. This can be particularly beneficial for those looking to gauge the overall health of specific sectors or regions. Spot Metals: Spot metals trading includes assets like gold and silver. These precious metals are known for their value and can serve as a hedge against economic uncertainty. Spot metals trading provides traders with an avenue to invest in physical assets without the need for physical ownership. Cash Energies: Cash energies encompass commodities like oil and natural gas. These resources are essential to the global economy and can be influenced by various factors, including supply and demand dynamics, geopolitical events, and economic trends. Stocks: The broker provides access to a selection of stocks from various global markets. Traders can buy and sell shares of publicly traded companies, potentially benefiting from capital appreciation and dividend income. Cryptocurrencies: The emergence of cryptocurrencies has opened up new investment opportunities. The broker offers digital currencies such as Bitcoin, Ethereum, and more. Cryptocurrencies are known for their volatility and are increasingly becoming a part of diversified investment portfolios. Account Features Eightplus.com offers a range of account types designed to meet the needs of both retail and institutional traders: Account Start From: $200 minimum deposit in USD or EUR. Standard Leverage: Up to 1:30 for standard trading conditions. Leverage for Professional Traders: Up to 1:100 for experienced traders. Minimum Transaction Size: Starting from 0.01 lot for flexible trading. Variable Spreads: Starting from 0.1 pips for competitive pricing. Execution Type: Fast execution for precision trading. Commission: No commission fees. Islamic Account: Available upon request for swap-free trading. Hedging and Scalping: Supported for various trading strategies. Expert Advisors: Supported for automated trading. Dedicated Account Manager: Access to personalized support. Full Range of Currency Pairs: Extensive options for diversification. Real-time Online Customer Service: Immediate assistance. Full IT Support: Technical support for platform reliability. Technical Analysis Reports: Access to analytical insights. Investor Education Tools: Resources to enhance trading skills. Traders can choose the account type that aligns with their trading goals and strategies. Leverage This broker offers a maximum trading leverage of up to 1:100 for professional traders. Leverage allows traders to control a larger position size with a relatively smaller amount of capital. However, it's important to note that higher leverage also comes with increased risk, and traders should use it judiciously and be aware of the potential for amplified losses. The choice of leverage should align with a trader's risk tolerance and trading strategy. Spreads and Commissions Spreads: The spreads provided by this broker are variable, with starting points as low as 0.1 pips. This variability means that traders can benefit from competitive pricing, as spreads may tighten during periods of high market liquidity. However, it's important to note that spreads can fluctuate based on market conditions and the specific trading instruments being used. Commissions: The broker offers commission-free trading for certain account types, making it an attractive choice for traders who prefer fee-free trading. However, for traders seeking specialized features or services, commissions may apply. These commissions are typically associated with accounts that offer higher leverage or other specific advantages. Deposit & Withdrawal Bank Wire:Bank wire transfers are a traditional and secure method for depositing and withdrawing funds with this broker. Deposits are processed swiftly, typically within one business day. The advantage of bank wire transfers lies in their reliability and widespread acceptance. However, it's important to note that withdrawal times can vary, with funds taking between 4 to 7 business days to be credited to your bank account. Additionally, withdrawal fees may apply, depending on the bank and corresponding bank used, ranging from $€5 to $€15.5. For inter-banking transfers, no fees are charged. Skrill:Skrill offers a quick and convenient deposit method, with funds typically available for trading within an hour during working hours. One notable benefit is that there are no deposit fees associated with Skrill deposits. When it comes to withdrawals, the broker processes them within one business day, ensuring timely access to your funds. However, there is a withdrawal fee of 1.80% applied to the withdrawal amount after three free withdrawals, making it important for traders to monitor their usage to minimize fees. Neteller:Similar to Skrill, Neteller provides rapid deposit processing, with funds becoming available for trading within an hour during working hours. Deposits using Neteller do not incur any fees. For withdrawals, the broker processes them online within one business day, ensuring quick access to your funds. However, there is a withdrawal fee of 1.80% applied to the withdrawal amount after three free withdrawals. It's essential to keep in mind the fee structure and utilize the three free withdrawals wisely for cost-effective fund management. Trading Platforms Eightplus.com offers the MetaTrader 4 (MT4) platform for both Windows and Mac users, providing a powerful and user-friendly tool for traders. With MT4, traders can access a range of key features including a STP/ECN environment, a wide variety of currency pairs for trading, Expert Advisor (EA) functionality for automated trading strategies, comprehensive technical analysis tools with indicators and charting capabilities, three types of charting options, and the flexibility of hedging and scalping trading strategies. The platform also ensures round-the-clock customer support to assist traders as needed. MT4 for Mac users can enjoy all these features seamlessly, with straightforward installation and usage procedures, making it a versatile and efficient trading platform for traders of all levels. Customer Support Eightplus.com places a strong emphasis on providing robust customer support to ensure a seamless and secure trading experience for its clients. Their customer support team is available 24/5, which means they are accessible during most trading hours throughout the week. Whether traders have inquiries, require assistance, or need clarification on any aspect of their trading activities, the dedicated support team is readily available to help. Clients can reach out to the support team via email at support@eightplus.com or by phone at +357 22531111. Educational Resources It appears that Eightplus.com does not offer specific educational resources.This means that the broker may not provide educational materials such as trading guides, tutorials, webinars, or other resources to assist traders in improving their knowledge and skills in trading. Traders looking for educational support may need to seek educational materials or resources from external sources to enhance their trading proficiency. Summary Eightplus.com is a regulated broker operating under CYSEC oversight, ensuring transparency and accountability in their financial services. They offer a diverse range of market instruments, including CFDs, Forex, Cash Indices, Spot Metals, Cash Energies, Stocks, and Cryptocurrencies. Traders can choose from various account types to suit their preferences, with competitive spreads and flexible leverage options. The platform of choice is MetaTrader 4 (MT4), available for both Windows and Mac users, offering a robust trading experience with technical analysis tools and 24/5 customer support. While educational resources are not prominently featured, the broker provides a comprehensive suite of account features and funding options to support traders in their journey. FAQs Q1: What is the minimum deposit required to open an account with Eightplus.com？ A1: The minimum deposit to start trading with Eightplus.com is $200 in either USD or EUR. Q2: Can I use Expert Advisors (EAs) for automated trading on the MetaTrader 4 platform？ A2: Yes, Eightplus.com supports Expert Advisors (EAs) on the MT4 platform, allowing traders to automate their trading strategies. Q3: How quickly are deposits processed through Skrill？ A3: Deposits made via Skrill are typically available for trading within one hour during working hours. Q4: Does Eightplus.com offer Islamic accounts for traders who require swap-free trading？ A4: Yes, Islamic accounts are available upon request, providing swap-free trading options. Q5: What is the maximum leverage offered by Eightplus.com？ A5: The broker offers a maximum trading leverage of up to 1:100 for professional traders, allowing for increased position size with a smaller capital investment.