Skip to content

Eightcap.com

    Absolutely scam broker. GBPCHF and AUDCHF positions were closed when they were 36pips away from the SL. Broker said this is absolutely normal spread during rollover time 10pm UK. I asked my friends who are using other brokers and they said their positions were not closed and now running in profit.They usually have spread of 1pip, but on rollover 5.9pips (as stated in technical info of the pair).I checked specs of those two pairs GBPCHF and AUDCHF and I was surprised that Eightcap charge -5.9 on short positions overnight rate, so the spread can’t be more than 5.9pips, how did they closed two trades with 36pips spread?I emailed them and they said “trading carries risks and I have to calculate properly my position size”. What? I guess they didn’t even asked my question. My position size 1% as usual, but their spreads increased 9 times from their max mentioned in the specs info for those pairs.Conclusion: avoid using this broker whether through prop firm or on its own. I am going to use my friends broker as I am happy to have overnight spread of 5pips not 36pips.And what I read from others reviews some people were having 100pips spread haha And they still say this is a real market condition. Try to sign account with Admiral Markets and check if they every have overnight spreads of more than 5-6 pips or not?

    Leave a Reply