Eight Prime-Some Important Details about This Broker

Since Eight Primes official website (https://www.eightprimefx.com/en/) is temporarily down, we could only piece together the rough picture of this brokerage house by gathering some relevant information from other websites.

General Information

Allegedly registered in the United Kingdom, Eight Prime is a newly-established broker with an operating time of less than two years, providing a series of trading services. As this brokers official website cannot be opened for now, we could not obtain more essential details about its minimum deposit, trading products, spread, commissions, trading platform, and more.

Please note Eight Prime is not subject to any valid regulation, and trading with an unregulated forex broker is taking huge risk of losing your money.

Account Types

Five types of trading accounts are available on the Eight Prime platform: Mini, Standard, Platinum, VIP and Professional, with the minimum deposit for each account not disclosed and trading leverage varies depending on accounts, ranging from 1:100 to 1:500.

Leverage

When it comes to leverage, trading leverage varies depending on trading accounts, ranging from 1:100 to 1:500. However, Eight Prime allows its clients to use the maximum trading leverage up to 1:500, which is much higher than the levels regarded appropriate by many regulators, with the maximum leverage for major forex up to 1:30 in Europe and Australia, and 1:50 in Canada and U.S. Since leverage can magnify gains as well as losses, it can also cause serious fund losses, especially to inexperienced traders. Therefore, it is wise for beginners to choose the smaller size no more than 1:10 until they gain more trading experience.

Trading Platform

What Eight Prime offers is not the industry-leading MT4 or MT5 trading platform. Please be aware of the risk.

Customer Support

Worryingly, Eight Prime does not leave any contact information for clients with any inquiries to get in touch with them. This could be served as further evidence that Eight Prime is an unreliable forex broker to trade with.

Negative Reviews

Some traders shared their terrible trading experience on this platform, saying this broker kept tricking him into handing them money, and rejected his requests. Come to WikiFX to see the whole story.

Risk Warning

Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that your fully understand the risks involved, taking into account your investments objectives and level of experience.

The information presented in this article is intended solely for reference purposes.