Is Eightcap Available in Gambia as of 2024?

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Eightcap is a forex and CFD broker that provides online trading services to traders and investors worldwide. It offers clients trading opportunities across 800+ CFDs, including Forex, Indices, Commodities, shares, and more. The broker is authorized by multiple top-tier jurisdictions including FCA, ASIC, CySEC, SCB, and FSASVG. Eightcap features TradingView integration, daily trade ideas, professional trading insights, and code-free automation. If you are a trader residing in Gambia, you might be wondering whether Eightcap is available in your country. 

In this article, we’ll look into whether Eightcap accepts clients from Gambia. We will also discuss the advantages and disadvantages of using this platform. Additionally, We’ll also cover details about opening an account, deposit, and withdrawal options, and more. Our goal is to provide you with the information you need to better understand Eightcap Forex Broker. 

Is Eightcap Available in Gambia?

Yes, Eightcap is available in Gambia. It is an online forex broker that offers its services worldwide, including Gambia. The broker is regulated in five different jurisdictions around the world: FCA, ASIC, CySEC, SCB, and FSASVG. Traders from Gambia can trade under either its SCB or FSASVG jurisdiction. SCB jurisdiction allows a maximum leverage of 1:200, while FSASVG offers a maximum leverage of 1:500

Eightcap Overview

Eightcap Overview
  • Founded Year: 2009
  • Founder: Joel Murphy
  • Headquarters: The Rialto, South Tower, Level 35/525 Collins St, Melbourne VIC 3000, Australia
  • Minimum Deposit: $100
  • Maximum Leverage: 1:500
  • Regulations: ASIC, FCA, CySEC, SCB, and FSASVG
  • Trading platform: MT4, MT5, TradingView, Webtrader
  • Account Types: Standard, Raw, Tradingview
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Neteller, PayPal, Poli, Skrill, UnionPay, XPAY
  • US Clients: Not Accepted

Yes, Eightcap is legal in Gambia.Eightcap is a global forex broker, it is regulated by top-tier authorities around the world. Moreover, there are no restrictions on Eightcap imposed by any authorities of Gambia. Therefore, you can trade forex confidently with Eightcap in Gambia without any legal concerns. 

Is Eightcap Regulated in Gambia?

No, Eightcap is not regulated in Gambia. However, Eightcap is regulated by top-tier regulatory authorities such as FCA, ASIC, CySEC, SCB, FSASVG, etc. This regulatory framework provides traders in Gambia with the assurance of a secure and compliant trading environment.

Is Eightcap Safe and Trustworthy in Gambia

 Yes, Eightcap is committed to providing a safe and trustworthy trading environment for traders worldwide including Gambia. Here’s how Eightcap ensures your safety:

Top Tier Regulations:

Eightcap is regulated by top regulatory authorities including FCA, ASIC, CySEC, SCB, and FSASVG. These regulatory bodies set stringent standards and conduct regular audits to ensure the broker’s compliance with industry best practices. This multi-layered regulatory framework enhances transparency and accountability which gives you peace of mind as you trade.

Segregated Clients Fund:

Eightcap takes great care of client funds by storing them in separate bank accounts with top-tier banks. This ensures that clients’ money is clearly distinguished from the company’s funds. As a result, neither Eightcap nor its creditors can access or control clients’ funds.

Negative Balance Protection:

Eightcap offers negative balance protection to its retail clients. This feature ensures that your account balance can never go below zero. It prevents you from incurring debts beyond your initial investment. It’s an additional layer of security that shields you from extreme market volatility and unexpected price movements.

Investor Protection:

Eightcap provides investor protection to clients in the EU, UK, and Australia. However, it doesn’t extend this protection to its global entities (FSASVG, SCB jurisdicitons). As a resident of Gambia, the investor protection scheme might not apply to you. Still, this scheme shows Eightcap’s dedication to looking after its clients’ interests and upholding the highest regulatory standards.

How to Trade with Eightcap in Gambia

Eightcap facilitates traders’ opening of trading accounts digitally. As a trader in Gambia, you can open a trading account with simple steps. It may take less than 5 minutes to create an account. Here is the step-by-step guide for opening a trading account 

Step 1. Research and Understand the Broker:

Before trading with Eightcap, a trader should thoroughly research and understand the broker. Eightcap is regulated by reputable authorities like FCA, ASIC, CySEC, SCB, and FSASVG, which ensures a level of security and trustworthiness. Investigate Eightcap’s offerings, including the types of accounts available, the range of tradable assets, and the trading platforms supported. Additionally, read reviews and feedback from other traders to gauge their experiences. Understanding the broker’s regulatory status, fees, and services will help you make a better decision about trading with Eightcap.

Step 2. Create an Eightcap Account:

To create an Eightcap account,  visit the Eightcap website and click on the “Sign Up” or “Create Account” button. You will be required to fill in your personal details such as your name, email address, phone number, and country of residence (Gambia). After providing this information, you must complete the account verification process. This involves submitting documents like a proof of identity (passport or national ID) and a proof of address (utility bill or bank statement). Verification is essential for complying with regulatory requirements and ensuring the security of your account.

Step 3. Deposit Funds:

Once your Eightcap account is set up and verified, the next step is to deposit funds. Eightcap offers various funding methods, including bank transfers, credit/debit cards, and electronic wallets like Skrill and Neteller. Log in to your Eightcap account, go to the deposit section, choose your preferred funding method, and follow the instructions to deposit funds. Eightcap does not charge any deposit fees. However, be mindful of any fees or processing times associated with your chosen deposit method. The minimum deposit of Eightcap is $100 or equivalent. 

Step 4. Download Trading Platform:

Eightcap supports two widely used trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Besides, the broker also offers the TradingView platform.  Choose the platform that best suits your trading needs. Download the chosen platform from the Eightcap website and install it on your computer or mobile device. Once installed, log in using your Eightcap account credentials. Both MT4 and MT5 offer a range of tools and features, including advanced charting, technical analysis tools, and automated trading capabilities, which can enhance your trading experience.

Step 5. Start Trading:

With your account funded and the trading platform set up, you are ready to start trading. Start trading by performing market analysis using the various tools and resources available on MT4 or MT5. Choose the assets you want to trade, set your order types (such as market orders, limit orders, etc.), and place your trades. It is essential to implement risk management strategies, such as setting stop-loss and take-profit levels, to protect your investments. Regularly monitor your trades and the market to make informed decisions and adjustments as necessary. Continuously educate yourself and stay updated with market trends to improve your trading skills and strategies.

How to Deposit Funds on Eightcap in Gambia

 Depositing funds on Eightcap is easy and simple in Gambia. Here are the steps 

  1. Log in to your Eightcap account using your username and password.
  2. Click on the ‘Funding’ section, usually found in your account dashboard.
  3. Choose how you want to deposit money. You can use a credit/debit card, bank transfer, or an e-wallet.
  4. Enter the amount you want to deposit.
  5. Fill in any required information, like your card details or bank account information.
  6. Check everything carefully to make sure it’s correct.
  7. Click to confirm the deposit.
  8. Wait for the deposit to go through. It might happen right away or take a bit of time, depending on your chosen method.
  9. Once it’s done, the money will be in your Eightcap account, ready for you to start trading.

How to Withdraw Funds From Eightcap in Gambia

Withdrawing funds from Eightcap is almost the same for all countries, including Gambia. Here are the steps to follow.

  1. Log in to your Eightcap account using your username and password.
  2. Go to the ‘Withdraw Funds’ section, typically located in your account dashboard or under the ‘Funding’ tab.
  3. Select the withdrawal method you prefer. Common options include bank transfer, credit/debit card, or e-wallet.
  4. Enter the amount you wish to withdraw.
  5. Provide any necessary details, such as your bank account information or e-wallet address.
  6. Double-check all the information to ensure accuracy.
  7. Confirm the withdrawal request.
  8. Wait for the withdrawal request to be processed. This may take some time depending on the withdrawal method and Eightcap’s processing times.
  9. Once processed, the funds will be transferred to your chosen withdrawal method and should appear in your designated account.

Pros and Cons of Eightcap for Gambia Traders

Pros:

  • Regulated by FCA, ASIC, CySEC, SCB, and FSASVG for compliance and security.
  • Maximum leverage up to 1:500 for flexible trading.
  • Offers passive investment programs (MAM, PAMM accounts).
  • No deposit/withdrawal fees for transparent transactions.
  • Easy account opening process for convenience.
  • Allows scalping and EA trading for various strategies.
  • 100+ crypto CFDs available for diversified trading.
  • Offers 800+ CFDs across multiple markets

Cons :

  • Minimum deposit is $100
  • No Investor Protection for non-EU/UK/AU Clients
  • The Broker is not regulated by FCA UK 
  • Conditions and trading costs vary according to the entity
  • Hedging is not allowed with the ASIC entity
  • Eightcap has some regional restrictions. For example, some services are not available in Australia

Features of Eightcap for the Traders in Gambia

The traders of Gambia are under SCB regulation. Here are the features of Eightcap in Gambia. 

Leverage:

Leverage is a powerful tool in forex trading that enables traders to control larger positions with a smaller amount of capital. Eightcap offers leverage ranging from 1:1 to 500:1. This leverage may vary depending on the jurisdiction in which you trade. For instance, it provides leverage of up to 500:1 for forex trading in FSASVG, while offering a maximum of 30:1 for FCA, CySEC, and ASIC jurisdictions. 

Minimum Deposit:

The minimum deposit at Eightcap is $100. This applies to traders from all countries, including Gambia. It is also applicable to all types of accounts that Eightcap offers. 

Learn More: Eightcap Minimum Deposits, Guide, Fees and More

Fees and Commissions:

Eightcap offers three account types to meet the diverse needs of traders worldwide, including those in Gambia. These options include the standard, raw, and TradingView accounts, each with unique features and fee structures.

For traders looking for simplicity and cost-effectiveness, the standard and TradingView accounts are ideal choices. These accounts operate on a spread-based model which means that traders are charged spreads without any additional commission fees. With spreads as low as 1.0 Pips, these accounts offer competitive pricing and are well-suited for beginners.

On the other hand, Eightcap offers the Raw account to traders who prioritize transparency and direct market access. Unlike the standard and TradingView accounts, the Raw account operates on a commission-based model. Traders using this account are charged commissions ranging from 2.25 to 3.5 on each side of the trade. 

Regardless of the chosen account type, all traders can get started with a minimum deposit of just $100 which makes trading accessible to a wide range of individuals. You can learn more about Eightcap account types and fees here 

Trading Platform:

Eightcap provides a variety of trading platforms for traders worldwide, including those in Gambia. These platforms include:

  • TradingView
  • MetaTrader 5
  • MetaTrader 4
  • Capitalise.ai

Each of these platforms offers advanced charting tools, a wide range of technical indicators, and rapid execution. You can use any platform according to your preference

Account Types:

Eightcap primarily offers three types of accounts: the Standard account, raw account, and tradingView accounts. The Standard and TradingView accounts operate on spreads, while the Raw account is commission-based. Here are the types of accounts that Eightcap offers:

  • Standard Accounts
  • Raw Accounts
  • TradingView Account

This provides traders in Gambia with the flexibility to open a trading account that suits their needs

Financial Instruments:

Eightcap offers a variety of financial instruments for traders in Gambia. You can access over 45+ forex currency pairs, more than 300+ cryptocurrencies, and over 800+ CFDs, including precious metals, stocks, indices, oil, commodities, and ETFs. This range allows traders to diversify their portfolios and capitalize on different market trends

Trading Hours:

Eightcap ensures that traders in Gambia can engage with the markets at their convenience, offering a 24/5 trading schedule. This means that from Sunday evening to Friday evening (Gambia local time), traders have the opportunity to access and manage their positions. This extended trading window accommodates traders with different schedules and time zones which allow them to capitalize on market movements whenever they see fit.

Customer Support:

Eightcap has dedicated customer support for all its entities. They are professional and responsive. Eightcap offers customer support with the following means 

  • Live Chat 
  • Phone Support 
  • Email Support 

What countries are restricted on Eightcap?

Eightcap is a global forex broker offering services worldwide. However, due to regulatory requirements and business decisions, Eightcap does not accept clients from many countries. These countries include  North Korea, Democratic Republic of Congo, Afghanistan, American Samoa, Central African Republic, Eritrea, Guinea-Bissau, Iran, Iraq, Japan, Lebanon, Libya, Mali, Myanmar, Somalia, South Sudan, Sudan, The US, Syria, United States Minor Outlying Islands, Virgin Islands (U.S.), Yemen, Zimbabwe.

Frequently Asked Questions (FAQ)

Here are the most common questions asked by the traders and investors. 

What is Eightcap?

Founded in 2009, Eightcap is a forex and CFD broker that offers online trading services to traders and investors worldwide. The company was based in Melbourne, Australia in 2009. The broker allows the trading of over 800 forex and CFDs on its platforms which include MT4, MT4, and TradingView. Traders are provided with tools like free VPS, Crypto Crusher, Capitalise.ai, FlashTrader, Trade Idea, outlook, etc.

Does Eightcap Work in Gambia?

Yes, Eightcap works in Gambia. You can trade a wide range of trading instruments in Gambia including forex, commodities, Indices, Currency Indices, Cryptocurrencies, Shares, etc

Is Eightcap Good for Beginners in Gambia?

Yes, Eightcap is good for beginners in Gambia. The broker is highly regulated by multiple jurisdictions. It offers an easy-to-use interface with a wide range of trading instruments, fast execution, and a variety of deposit and withdrawal methods

Does Eightcap Have an Office in Gambia?

No, Eightcap does not have an office in Gambia. However, it has offices in several locations including Australia, Cyprus, Seychelles, Bahamas,  and the UK. Even though it doesn’t have an office in Gambia, traders from Gambia can communicate with Eightcap through live chat, phone calls, via emails. 

Does Eightcap Offer Islamic Accounts in Gambia?

No, Eightcap does not offer Islamic Accounts. There are three types of accounts on Eightcap (Standard, Raw, and TradingView). The standard and TradingView accounts are spread based while the Raw account is commission-based 

Does Eightcap offer any Bonus in Gambia?

Currently, Eightcap does not provide bonuses to traders in Gambia or anywhere else globally. This approach aligns with the platform’s focus on transparent and fair trading practices, ensuring that traders engage in the markets based on their knowledge and skills rather than relying on bonuses

Does Eightcap Offer Demo Accounts for Traders in Gambia?

Yes, Eightcap offers demo accounts for traders in Gambia.The demo accounts of Eightcap usually last for 30 days. These demo accounts allow beginners to practice trading with virtual funds in a risk-free environment. It’s a valuable tool for honing your trading strategies, familiarizing yourself with the platform, and gaining confidence before you start trading with real funds.

Does Eightcap offer negative balance protection in Gambia?

Yes, Eightcap offers negative balance protection to retail clients in Gambia. This means that if your account balance goes into negative territory due to market fluctuations or other factors, Eightcap will bring your balance back to zero. It’s an important safety feature that ensures traders won’t owe more than they initially deposited. However, it’s worth mentioning negative balance protection is not applicable for the traders of all locations. Those outside eligible areas must meet conditions or do without protection. or

Does Eightcap offer Investor Protection for the traders of Gambia?

No, Eightcap does not extend investor protection to the traders in Gambia. However, the broker offers investor protection for  EU, UK, and Australian traders. While Gambia traders may not have the same level of protection, Eightcap’s strong regulatory standing and commitment to ethical trading practices contribute to a secure trading environment.

Final Verdict:

Eightcap is considered a trusted forex broker due to its regulation by FCA, ASIC, CySEC, and SCB. It offers a diverse range of trading instruments, including Forex, Commodities, Cryptos, indices, and share CFDs. With user-friendly platforms like MT4 and MT5 available on mobile, desktop, and web versions, Eightcap ensures accessibility and convenience for traders.

Moreover, features like TradingView charts integration, Ai Powered Economic Calendar, and Capitalise.ai enhance the trading experience. Therefore, for those in Gambia looking for a trusted and reliable forex broker, Eightcap is a solid option. It provides all the necessary tools and support for successful online forex and CFD trading.


Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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