Elev8 Forex broker review — Everything you need to know

Elev8 is a regulated forex and CFDs broker that has recently undergone a rebranding. The broker offers multiple account types, access to advanced trading apps, including its own proprietary app, and plenty of features. However, we are only interested in its safety and reliability, trading conditions, and support quality. Let’s assess all these and some more in the brief review below to define how competitive and reliable Elev8 truly is.

Elev8 Overview of the website

The website of Elev8 looks modern, simplistic, and professional. However, in some areas, it feels slightly laggy, especially when media are displayed interchangeably. While this lag is not huge, it still damages user experience and makes it slightly slow. Apart from this, the broker has a very well-ordered website where anything a trader wants to know can be found in the top menu bar, including accounts, markets, platforms, and more.

There are educational and promotional sections built into the website, which are useful for finding all the benefits of trading with this broker quickly. The live chat is built into the website using a plugin and enables quick access to customer support, which is crucial in online financial trading. The website is also offered in a multitude of languages, which is useful for international traders.

Overall, the website offers a good experience, but tiny improvements could still be made to eliminate the tiny lags experienced.

Elev8 Safety and Licenses

The broker operates via two legal entities: Elev8 Markets, which is registered in Mauritius, and Finexis Markets Ltd, registered in MWALI. As a result, the broker operates using two licenses:

• Elev8 Markets – Financial Services Commission of Mauritius (MU FSC)
• Finexis Markets Ltd – Mwali International Services Authority, Comoros

As a regulated broker, Elev8 keeps trader funds in segregated bank accounts, which is a crucial safety feature, ensuring the broker’s operational capital and traders’ funds are in separate bank accounts. Elev8 explicitly says your balance is automatically reset to zero if it becomes negative, meaning it does offer a negative balance protection policy. This policy is critical for any retail trader, especially for beginners who might misuse leverage and blow up an account.

Elev8 Accounts Reviewed

The broker divides its trading accounts according to the trading platforms it offers. There are Elev8Trader, MetaTrader 5, and MetaTrader 4 accounts. Most conditions are identical, but each account offers a different set of trading instruments, which makes it important to check viable instruments before signing up for any of these accounts. Each instrument has a different maximum leverage:

• Forex 1:1000
• Metals 1:400
• Energies 1:400
• Indices 1:400
• Crypto 1:200

Let’s briefly list trading conditions for each of those trading accounts.

Elev8 Elev8Trader Account

This account is exclusively available on the broker’s proprietary trading platform, Elev8Trader, and it offers:

• Minimum deposit – 25 USD
• Maximum leverage – Up to 1:1000
• Spreads – From 0.6 pips
• Commissions – 0 USD
• Available markets – 35 currency pairs, gold and silver, 3 energies, 10 indices, and 30 cryptocurrencies
• Minimum lot size – 0.01 lots

Elev8 MetaTrader 5 Account

This account is accessible on the MT5 platform, and it offers:

• Minimum deposit – 25 USD
• Maximum leverage – Up to 1:1000
• Spreads – From 0.6 pips
• Commissions – 0 USD
• Available markets – 52 currency pairs, gold and silver, 3 energies, 10 indices, 34 cryptocurrencies,150 stocks, and 26 intraday assets
• Minimum lot size – 0.01 lots

Elev8 MetaTrader 4 Account

This Elev8 trading account is only available on the MT4 platform:

• Minimum deposit – 25 USD
• Maximum leverage – Up to 1:1000
• Spreads – From 0.6 pips
• Commissions – 0 USD
• Available markets – 35 currency pairs, gold and silver, 3 energies, 10 indices, and 34 cryptocurrencies
• Minimum lot size – 0.01 lots

As we can see, spreads are very low, and no commissions are charged, which is very competitive. However, the lack of ECN accounts with raw spreads + commissions is still a disadvantage.

Deposit and withdrawal options at Elev8

When it comes to deposits and withdrawals, Elev8 supports diverse payment options. Some countries offer unique locally available bank and payment options, but generally, the broker accepts Visa, MasterCard, Neteller, Skrill, Bitcoin, Ethereum, Litecoin, and more. This is flexible, and traders can select their preferred method depending on their location.

Most deposits are instantly processed, and withdrawals are promised to get processed in under 3 hours, which is also fast in this industry.

Elev8 Assets — What can you trade?

Elev8 is a multi-asset forex broker that offers access to many different classes of trading assets. However, the amount and diversity change depending on the trading account selected. Most trading assets, including stocks, are available on the MT5 trading platform account. This is understandable as MT5 is the latest iteration of a popular platform series. Available assets include forex pairs, commodities, indices, stocks, and cryptos. Trading conditions are super competitive with spreads from just 0.6 pips, but there are no 0-pip accounts offered, which is a minor drawback here, especially for scalpers.

Trading platforms of Elev8

There are three trading platforms at Elev8, including Elev8Trader, MetaTrader 4, and MetaTrader 5. The Elev8Trader is the broker’s platform, while MT4 and MT5 are advanced and very capable software. They support custom indicators and Expert Advisors. Mobile trading is available via the mobile apps of these platforms, accessible on all mobile devices.

Education at Elev8

There are some educational resources offered, such as Trading strategies, Glossary, and FAQs. Traders can get 1-on-1 training when trading on a live account, but overall, the broker lacks comprehensive educational resources. As for market analysis tools, the broker offers Trading calculator, Profit calculator, Pip calculator, Live quotes, Monitoring, Analytics, Trading hours, Economic calendar, Trading news, and Holiday calendar.

Elev8 Customer Support

Customer support of Elev8 is provided via live chat, email, and phone support. The availability of both phone and live chat is a big advantage in this sector because it enables traders to call the broker and close open trades if they experience internet issues. Live chat is directly built into the website. Both the website and support options are multilingual and available in many different languages.

Elev8 bonuses and promotions

When it comes to promotions, the broker promises a 50% deposit bonus on the 1st deposit. There are no other bonus programs, but the broker offers a loyalty program where traders can collect points and get various rewards and status.

Is Elev8 your broker? Final verdict

Elev8 is a relatively new forex and CFD broker offering competitive trading conditions, low entry requirements, and access to popular platforms like MT4 and MT5, together with its own proprietary trading app, Elev8Trader.

Overall, Elev8 can suit traders seeking high leverage and flexible trading access, but caution is still required, as the broker is regulated in offshore jurisdictions.

FAQs on the Elev8 broker

Where is Elev8 based?

Elev8 operates through entities registered in Mauritius and MWALI (Comoros), offering securities trading services worldwide.

Can you withdraw from Elev8?

Yes. Elev8 supports withdrawals via cards, e-wallets, and cryptocurrencies, with processing typically completed under 3 hours for profit withdrawals.