Eightcap demo account

If you're just getting started in the trading game, using a demo or virtual account is pretty much mandatory before putting any real money on the line. We put Eightcap under our microscope and examined whether they give you the opportunity to practice and get comfortable through a legit demo platform.

Great news, demo accounts are available at Eightcap. Read on to find out details about these paper accounts at Eightcap and take a look at key fees and services they provide.

Opening a demo account at Eightcap is straightforward

Opening a demo account at [Broker name] is straightforward

Bence András Rózsa

Bence is a former broker analyst for BrokerChooser. Having an MSc in international economy and finance, he focused on equities, cryptos and newcomer financial services. He also gained years of experience within the brokerage industry, specializing in stock and CFD/forex brokers, crypto providers and robo-advisors.

Learn about our methodology

Bence András Rózsa

I did some heavy duty testing and analysis of the services of Eightcap with our analyst team by opening a real-money account with them. We put their account opening process under the microscope and these were our most important findings on using a demo account with them:

• You can open a free demo account at Eightcap just as you would open a trading account.

• Fees charged by Eightcap are Low. Read on to see the quality of their educational materials.

• Visit our comprehensive Eightcap review for 2024 for the full scoop on their services and fees.

One of the smartest moves you can make as a new trader is taking advantage of a broker's demo account, also called paper trading. It allows you to paper trade with virtual funds until you get the hang of analyzing the markets, placing orders, testing strategies - the whole nine yards. All without that looming fear of accidentally blowing up your entire bankroll while you're still green.

If you sign up for the Eightcap demo account, - which by the way is free of charge - you will get acquainted with their trading software and platform setup in a completely risk-free environment. You can click around, experiment with different order types, play around with charts and tools - basically get a feel for their whole trading ecosystem before you dip your toes in the live markets.

When it comes to setting up a demo account, brokers typically give you two options. You can simply sign up for their demo platform right from the jump without opening a full-fledged live trading account first. Pretty seamless process usually. You provide some basic personal info, maybe proof of ID, and bam - you've got demo access to their trading platform.

Option number two requires an extra step. With some brokers, you actually have to open up a legitimate cash trading account with them first before you can activate the demo mode. So you'll go through the entire account opening process - providing MORE detailed personal/financial info, doing things like KYC checks, funding the account with real money, etc. And only once that full trading account is approved and operational can you then flip the switch to set up their demo platform.

The fees that a broker charges for using their services are actually a big deal. Why? These fees are like an airline's baggage costs. If you are a frequent flyer, those baggage fees can really start nickel-and-diming you if you're not careful. The same principle applies to trading fees from your broker; the commissions, financing rates, custody fees, or inactivity fees, can start feeling like a million tiny little termites slowly nibbling away at your potential profits.

So our analyst team did some heavy duty testing and analysis of Eightcap's services to give you the full insider scoop. We went all-in by actually opening up a legit, real-money trading account, testing their services from account opening to customer service to actual trading. After going through the trenches as actual Eightcap clients, here is a rundown of their most important fees and services.

Eightcap in a nutshell: Eightcap is an Australian forex broker. It is regulated by the UK's FCA, Australia's ASIC, CySEC and VFSC, and is available globally for clients.

Eightcap fees and service highlights

If you want the completely unfiltered truth about Eightcap, you gotta check out BrokerChooser's deep-dive Eightcap review for 2024. Our team goes to the deepest depths to analyze Eightcap from every conceivable angle, scrutinizing nearly 600 individual data points on the broker.

We dive headfirst into the actual Eightcap experience as real traders, open up legitimate trading accounts and execute live trades on their platforms.You know why? Because there's no better way to truly understand how a broker operates than by being an actual customer going through the trenches.

Alternatively, take a look at this ranking of the best brokers for beginners, put together by our analyst crew. This roundup is based on deep, extensive research into what makes a broker truly beginner-friendly. Discover how Eightcap stacks up against these best in class online brokers.