Does Eightcap Use MT4? A Clear Answer to Your Question

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Forex traders always look for reliable and trusted trading platforms. There are many online forex trading platforms, including MT4, MT5, cTrader, and others. These platforms provide access to forex markets. Most forex brokers use MT4 as their default trading platform. So, if you are considering using Eightcap as your broker, you may be wondering if it works with MT4.

Eightcap is one of the popular forex brokers, offering forex, CFD, and Crypto CFD trading. In this article, we will discuss the compatibility of Eightcap with MT4. We will also explore alternative trading platforms, pros and cons, MT4 account creation, and more

Does Eightcap Support MT4?

Yes, Eightcap supports MT4 as its trading platform. MT4 is one of the most popular trading platforms in the world. It is known for its user-friendly interface, advanced charting tools, and automated trading capabilities. Traders can access the MT4 platform on Eightcap through various devices, including desktop computers, web browsers, and mobile devices

What Other Trading Platforms Does Eightcap Support ?

Eightcap supports several other trading platforms. They include:  

MT5 :

Released in 2010, MT5 is a multi-asset trading platform developed by Metaquotes, the same company that developed MT4 in 2005. MT5 is the upgraded version of MT4. It offers more time frames on charts, with 21 compared to MT4’s 9. MT5 also offers a built-in economic calendar and partial order fill policy. Additionally, MT5 allows depth of the market (DOB). The programmatic language of MT5 is MQL5. However, it is not as popular or user-friendly as MT4 yet

Trading view :

Founded in 2011 by Konstantin Ivanov (CTO), Denis Globa (CEO) and Stan Bokov (COO), TradingView is a cloud-based charting and social networking platform for traders and investors. It offers a wide range of tools and features for analyzing financial markets, including stocks, forex, cryptocurrencies, and more. Users can access real-time data, advanced charting tools, and technical indicators to conduct in-depth market analysis. TradingView allows users to create custom watchlists, set up alerts, and share trading ideas with the community through its social networking features. Additionally, it supports the development and sharing of custom indicators and trading strategies. TradingView is known for its intuitive interface, extensive charting capabilities, and active community of traders and investors 

Why Choose Meta Trader 4 On Eightcap?

MetaTrader 4:

 (MT4) is a popular trading platform used by many traders and brokers for various reasons. Eightcap is a financial services provider that offers the MT4 platform to its clients. Here are some features and advantages of using MetaTrader 4 on Eightcap:

Global Market Opportunity:

 MetaTrader 4 offers access to a wide range of financial markets, including Forex, commodities, indices, and more. This provides traders with the opportunity to diversify their investments and take advantage of various global market opportunities.

Fast Execution:

MT4 is known for its speedy trade execution, which is crucial in the fast-paced world of online trading. The platform allows for quick order processing and low latency, reducing the chance of slippage.

Premium Liquidity:

Eightcap, as a broker offering MT4, likely provides access to premium liquidity providers. This ensures that traders can access competitive spreads and deep liquidity for their trades.

Multi-Jurisdictional Regulations:

Operating under multiple regulatory jurisdictions can provide traders with an added layer of security. It often means that the broker is subject to various regulations and must adhere to strict standards of financial conduct, which can enhance the safety of clients’ funds.

Complete Transparency:

Transparency is essential in the financial industry, and MT4’s reporting and account management features help traders and investors monitor their trades and account activities with transparency. It allows you to keep track of your trading history, account balance, and more.

Fast Payment Methods:

Eightcap, like many brokers, likely offers a variety of convenient and fast payment methods for deposits and withdrawals. This ensures that you can easily manage your funds and execute transactions efficiently.

How to create an MT4 Trading Account on Eightcap

Creating an account on Eightcap is easy and simple. Here are the steps : 

Step 1: Account Setup:

  • Create an Account: If you haven’t already, sign up for an account on Eightcap. Follow the registration process and provide the necessary information.
  • Account Verification: Complete the account verification process by submitting the required documents, ensuring compliance with regulatory standards.

Step: 2 Download and Install MT4:

  • Access Eightcap Website: Login to your Eightcap account through the official website.
  • Visit to MT4 Section: Locate the section related to MetaTrader 4 on the Eightcap website.
  • Download MT4 Platform: Download the MT4 platform from the provided link.
  • Install MT4: Follow the installation instructions to install the platform on your computer.

Step 3: Login to Your MT4 Account:

  • Launch MT4: Open the installed MT4 platform on your computer.
  • Login Credentials: Enter your Eightcap account credentials (username and password) provided during the account registration process.
  • Server Selection: Choose the appropriate Eightcap server from the list.

Step 4: Explore the MT4 Interface:

  • Market Watch: View available instruments and their real-time prices in the Market Watch window.
  • Charts: Open charts for different financial instruments. Customize chart settings, and timeframes, and add technical indicators.
  • Order Execution: Execute trades using the ‘New Order’ window. Specify trade parameters, such as volume, stop-loss, and take-profit levels.

Step 5: Use of Trading Tools:

  • Technical Analysis: Leverage the advanced charting tools for technical analysis. Add indicators, trendlines, and other analysis tools to enhance your decision-making.
  • Expert Advisors (EAs): Explore and use Expert Advisors for automated trading. Install EAs or create your own to automate trading strategies.

Step 6: Monitor and Manage Trades:

  • Trade Management: Monitor open positions, view account history, and manage trades using the ‘Trade’ and ‘Account History’ tabs.
  • Modify Orders: Adjust stop-loss and take-profit levels or modify existing orders directly from the platform.

Step 7. Mobile Trading (Optional):

  • Download Mobile App: If desired, download the MT4 mobile app on your smartphone or tablet.
  • Login to Your Account: Use your Eightcap account credentials to log in to the mobile app.
  • Trade on the Go: Manage your trades, monitor the market, and execute orders from your mobile device.

Step 8: Customer Support and Resources:

  • Eightcap Support: Reach out to Eightcap customer support for any platform-related queries or assistance.
  • Educational Resources: Explore educational materials and resources provided by Eightcap to enhance your trading knowledge.

The Pros and Cons of Using MT4

Pros
  • Free to Use 
  • User-Friendly Interface 
  • Real-time access to market prices
  • Widely Used for Traders 
  • Customizable Indicators 
  • Backtesting Capabilities 
  • Large Community and Support 
  • Allows Automated Trading 
  • Multiple Servers 
  • Low System Requirements 
  • Multi-Language Availability 
  • Support Mobile, PC, and other Devices 
  • Support Multi assets including Forex, CFD, Crypto CFD, Indices, and Commodities.
Cons
  • Limited Number of assets 
  • Lack of Build-In News Feed 
  • No Economic Calendar:
  • No Depth of Market
  • Older Architecture
  • Lack of Advanced order type  ( 4 Pending order while MT5 has 6 ) 
  • Mono-threaded platform with 32-bit operating system
  • Limited Timeframe on charts (9 Timeframe while MT5 has 21 time frame)

Frequently Asked Questions (FAQs)

What is Eightcap?

Founded in 2009.  Eightcap is a regulated forex broker. It allows restriction-free trading facilities to traders worldwide. Eightcap offers Forex, Commodities, Indices, Shares, Crypto trading with up to 1:500 leverage. It claims itself as a true ECN forex broker.  

What is MT4?

Metatraders 4 (MT4)  is a widely used electronic trading platform for forex and other financial instruments. It offers a user-friendly interface, advanced charting tools, and support for automated trading through Expert Advisors (EAs). Traders can execute trades, conduct technical analysis, and implement automated strategies on the MT4 platform.

Does Eightcap offer an MT4 Demo Account for Free?

Yes, Eightcap provides a free MT4 Demo Account. This allows users to practice and familiarize themselves with the features of the platform without risking real money. It’s an excellent way for beginners to learn and for experienced traders to test new strategies.

What is the timezone of Eightcap MT4?

The server time for Eightcap is GMT+2 or GMT+3 depending on the time of year. During the winter months, the server time is GMT+2, while during the summer months, it is GMT+3. 

Can I Use EA with Eightcap MT4?

Yes, traders on Eightcap can use Expert Advisors (EAs) with the MT4 platform. EAs enable automated trading by executing predefined trading strategies, making it convenient for traders who wish to implement algorithmic approaches.

What is the Minimum Amount I Can Deposit for Eightcap?

The minimum deposit for Eightcap is as low as $100. This low entry requirement makes it accessible for traders with low levels of capital.

Is Eightcap MT4 Available for MAC Users?

Yes, Eightcap MT4 is available for MAC users. Traders using MAC computers can easily download and install the MT4 platform to access the full suite of trading features.

Is Eightcap MT4 Available on Android Devices?

Yes, Eightcap MT4 is available on Android devices. Traders can download the mobile app from the Google Play Store and enjoy the convenience of trading on the go.

Does Eightcap Offer Mobile Trading on MT4 Platforms?

Yes, Eightcap offers mobile trading on MT4 platforms. Whether on Android or iOS devices, traders can use the MT4 mobile app to manage their trades, monitor the market, and execute orders from anywhere.

What Instruments Can I Trade on Eightcap MT4?

On Eightcap MT4, traders have access to a diverse range of instruments, including Forex, Commodities, Indices, Shares, Crypto. This allows for a comprehensive trading experience across various financial markets.

Does Eightcap Use MT5 Trading Platform?

Yes, Eightcap uses the MT5 platform. MT5 is the upgraded version of MT4. Both MT4 and MT5 are developed by Metaquotes

Where is the Headquarters of Eightcap Located?

The headquarters of Eightcap is located in Melbourne, Australia.

What are the Account Types in Eightcap?

Eightcap offers 3 types of accounts: Standard, Raw, Tradingview

Final Thoughts:

Eightcap uses MT4 as its trading platform. It also uses other platforms like MT5, TradingView and more.

MT4 is one of the most popular and widely used trading platforms in the forex work. It is known for its user-friendly interface and advanced tools. It facilitates online trading in various financial markets, offering features like chart analysis, automated trading through Expert Advisors, and accessibility across multiple devices
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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