Last week, TradingView and Eightcap held an event to officially launch their new partnership in the UK.
Between a few drinks, TradeInformer caught up with Eightcap CEO Alex Howard to understand what the partnership is and what the plans are for it moving forward.
Lots of companies in the industry are working with TradingView already. What makes Eightcap’s partnership different?
We are focused on working hand in hand with TradingView to continuously improve the traders experience when onboarding as well as how they transition between trading from TradingView and managing their trading account from Eightcap’s client portal.
Our initiative with TradingView in the UK to be the first and currently only dedicated TradingView broker, is something that has enabled us to look at this more closely. We have a number of development ideas to take advantage of TradingView being the sole platform our UK clients trade with.
We have just completed the first feature that we have developed with TradingView. We started with something to improve our traders’ experience and make accessing TradingView’s premium features seamless.
Currently other UK brokers provide TradingView’s more premium subscriptions, via a manual process of adding a voucher code, and only certain clients are eligible for the premium subscriptions.
We looked at this disjointed process and raised an idea with TradingView to develop an automated API solution that enables Eightcap’s UK clients to have TradingView’s Plus subscription built into their trading account.
All other UK brokers currently offer TradingView as their 2nd or 3rd trading platform option. So this is quite a large vote of confidence by Eightcap.
TradingView has quickly made a name for themselves with 87m traders choosing to trade off TradingView and many millions more through TradingView’s hosted charts. TradingView are really pleased with this milestone to not just be an option, but THE option to trade via for UK clients.
Are you finding your TV offering more popular in certain regions or is it popular globally?
It’s reasonably spread out – we offer TradingView in 120 countries via our platinum broker partnership with them.
Do you find clients coming from or asking for TradingView products are more sophisticated or less? Or is there no distinction?
Definitely customers are now way more sophisticated from a technological and platform standpoint than when I was starting out in this industry! So I’d say the TV user base is more technical, due to the features and modernity of the platform. This is also in line with Eightcap’s aspired [client] profile, and the next generation of traders.
Have you found that TV is bringing in a new audience or market that wasn’t there previously? What is that audience if so?
Yes, TradingView is attracting a new audience of traders, particularly younger, tech-savvy traders and those trying to take advantage of the volatile crypto market.
TradingView has a really strong presence in the crypto market via its hosting charting that is available on nearly every major crypto exchange/broker. So combining this with Eightcap’s comprehensive and extremely well priced crypto derivatives offering we are seeing a growth in these type of traders via TradingView.
I should note, as we are in the UK, that we do not offer crypto-backed CFDs to UK retail clients.
Any upcoming plans that will enhance the TV offering?
We have just completed significant backend work with TradingView to improve the stability and speed of our execution for traders.
This will always be a priority for us and we have a dedicated team here and in Melbourne who will work on the bridge between us and TradingView. I’m very confident that this will deliver execution of the highest quality for our customers.
Now we are fully live, new developments and plans will be driven by feedback – I think we are now on a listening brief and will keep our ears and eyes open. I’d like to think we’ll have a wishlist for TV soon!