Elev8 Account Types: Elev8Trader, MT4, MT5 and the Shares Account

Elev8 organises its accounts by trading platform. You open an Elev8Trader account, a MetaTrader 4 account or a MetaTrader 5 account, and the conditions follow from that choice. The FAQ puts it simply: the account you choose depends on the platform you prefer and the instruments you want to trade, and you can always open another.

Several features are the same everywhere. Accounts are held in US dollars. No swaps are charged on any of them. CFD trading carries no separate commission, because Elev8 builds its fee into the spread. The minimum deposit is $25 and the smallest trade is 0.01 lot. A fourth option, the shares trading account, sits on MetaTrader 5 and works differently.

The accounts compared

Spreads differ slightly between platforms, and Elev8's spreads page lets you switch between Elev8Trader, MT4 and MT5 to see each. Its crypto page, for example, lists 30 digital assets on Elev8Trader and 34 on MetaTrader 5. Check the symbols and spreads for your own markets on the platform you plan to use.

Elev8Trader

Elev8Trader is the broker's own platform and the centre of what it calls its ecosystem. It runs in a browser and in the Elev8 trading app, and it includes Space, a feed with trading ideas, expert analysis and lessons. Elev8 says more than 130 trading ideas are posted daily and that an idea can be copied to your chart with its parameters set.

The platform also offers tools Elev8 describes as AI pattern search and AI-powered feedback on your past trades, along with break-even and trailing stop functions. Elev8 recommends it for beginners. One practical advantage is the demo: an Elev8Trader demo doesn't expire through inactivity.

MetaTrader 4 and MetaTrader 5

MT4 is the choice for traders who already own expert advisors or indicators written for it. MT5 is the newer platform with more timeframes and depth of market, and Elev8 describes it as more advanced and more complex. Neither is better in every case; Elev8's own comparison says so.

An EA written for one won't run on the other. Decide which MetaTrader you need before you open the account, because an account is tied to its platform. Our Elev8 platforms guide compares all three in more detail.

The shares trading account

Shares trading at Elev8 is a separate account on MetaTrader 5. It gives access to more than 100 US and European shares. You can't simply select it from a menu. First you verify your profile, make a first deposit, request a shares account and complete an application form from customer support. After review, Elev8 converts an unused real MT5 account or creates a new one.

With a $15 minimum commission, the shares account suits larger positions held for longer. A $200 purchase would lose 7.5% to the commission on the way in. See our Elev8 shares trading guide for the full terms.

Every account is swap-free

Elev8 says all its accounts are swap-free and describes them as Islamic friendly. No switch or application is needed. That is unusual, since most brokers treat swap-free status as a special request. The Elev8 Islamic account guide looks at what it means in practice.

Leverage is a setting, not a tier

You choose leverage per account from ten options between 1:1 and 1:1000, and you can change it later in your profile as long as no positions or pending orders are open. Crypto is capped at 1:200. The Elev8 leverage guide shows what each option does to margin.

What you can't change

• Currency: every account is in USD, and the currency can't be changed.
• Platform: an account belongs to the platform it was created on.
• Shares status: a shares account is set up through support, not switched on by you.

Elev8's answer to all three is the same: open another account. You can hold several real and demo accounts in one profile and move money between real accounts by internal transfer, which is free.

Which account should you open?

Demo accounts are free and unlimited in number, so test before you fund. Our Elev8 demo account guide explains the expiry rules for each platform.

Features every account shares

Whichever platform you choose, the basics are identical. Execution is at market. Trades start at 0.01 lot and move in steps of 0.01. News trading, hedging and scalping are allowed within the Customer Agreement, and arbitrage is not. Negative balance protection applies, with a negative balance adjusted to zero.

Money rules are shared as well. Deposits and withdrawals are free at Elev8's end, internal transfers cost nothing, and the 50% deposit bonus can be activated on any of the CFD accounts. If you don't trade for a full year, the 5 USD monthly fee applies whatever the platform.

Mistakes people make when choosing

Some pick MT5 because it sounds more advanced, then struggle with a busier interface they don't need. Others choose MT4 from habit and miss features that Elev8Trader offers beginners, such as lessons and a demo that never expires. Match the platform to what you will do with it, not to its reputation.

A second mistake is to open several real accounts on day one. Each has its own balance and its own margin. Small sums spread across three accounts are harder to manage than one properly funded account, and forgotten balances are how inactivity fees get paid.

Third, traders sometimes expect the shares account to behave like the others. It doesn't: there is no leverage, the commission has a $15 floor, and you are limited to ten open positions. Treat it as a separate product with its own budget.

Frequently asked

Related reading

• Elev8 platforms
• Elev8 shares trading
• Elev8 Islamic account
• Elev8 demo account
• Our full Elev8 review