Question: How much are the trading costs/commissions for EightCap MT4?
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EightCap does not charge any for maintaining a trading account, but there are mainly three kinds of cost/fees you will need to cover.
Fees for Deposit and Withdrawals
There are certain fees charged by EightCap and the payment providers for transferring funds.
For example, in case of international transfer, you will be charged fees directly from your corresponding banks, which could be more than 20 USD.
In case of Credit/Debit Card(VISA or Mastercard), you will be charged 1.8% handling fee for AUD and 3% for other currencies.
For Skrill(MoneyBookers) deposits, you will be charged 3.5% by EightCap.
In order to avoid troubles in the future, you may want to confirm with EightCap and your payment providers about the details of whole commissions.
Commissions for Trading
No commissions charged for EightCap’s Standard account though, for the “Raw-Spread” account, you will be charged 3.5 USD per 1 standard lot transactions.
Other than that, you need to cover the fees of spread and Swap points(overnight charges) for open positions held overnight.
Trading Losses
There is a great risk involved for trading Forex and CFDs. You could lose all your investment funds, or the loss can be exceeded.
As EightCap does not support NBP(Negative Balance Protection), it is your responsibility to cover all losses incurred by trading Forex and CFDs with them.
