While reviewing brokers and trading offerings, it stands at priority to choose the brokerage firm that suits your trading needs and propose the best applicable solutions to trading style. For this reason, we assist in choices by reviewing brokers with detailed information and supporting selection between offering, and here is EightCap Review among others.

What is EightCap?

EightCap is an Australian incorporated brokerage company, which brings a transparent pricing model since 2009 through low rates of variable spreads with quotes that are coming from numerous leading banks or institutions and performed via technological solutions through Equinix servers.

Generally speaking, EightCap performs a global operation not only through reputable Australia headquarter but with the operation of regional offices in Shanghai also. Apart from the offering to the retail clients, the broker also brings technological advantages and premium service to corporate members, institutional clients, and money managers.

EightCap Review

Since broker approaches simplicity in trading and bringing an opportunity to trade chosen, the most popular instruments, with access to a rapid execution and low institutional spread, while all accompanied by the best in the industry platform MT4 and of course with the fair relation between the trader and broker.

The marker range includes access to over 60+ trading instruments that includes most major and minor currencies, oil, gold, silver, global indices and 6 Cryptocurrencies. Going deeper into a promised competitive offering, the broker indeed brings nice costs with the typical spread for EUR/USD standard 0.8-1.2 pips and raw spread of 0.0-0.3 pips, or with a spread for metals XAU/USD 20-30 cents.

EightCap instruments

Nevertheless, throughout research and vast of opportunities, you should always check the most important information of the broker’s proposal. In this purpose this review covers the following highlights:

Is EightCap safe or a scam?

In addition to technological development, EightCap also recognizes the importance of embracing a strict regulatory or compliance culture. Which is done by holding a reputable license and follow of regulatory restrictions set by the Australian Securities and Investments Commission (‘ASIC’), recognized world authority which regulated Forex and trading industry.

EightCap license

Therefore, as a regulated entity, EightCap meets the highest standard of corporate governance, financial reporting, and disclosure. All retail client funds are kept separately from business funds in segregated bank accounts with AA-rated banking institution. Furthermore, EightCap undertakes additional protection by the professional indemnity insurance policy which all in all brings you a clear state of mind and trustable cooperation.

EightCap Trading Platforms

The broker uses only MetaTrader4 as a platform and its newer version MT5, since its numerous advanced features and tools bring a perfect combination to the technological execution capacity. The proprietary developed platform is available for desktop along with Mobile apps with the same capabilities to view prices in real time, to monitor or access an account, as well enhanced by traders chat and push notifications. MT4 provides all the necessary tools and resources that are essential for successful trading, with a range of indicators, and strategies to use.

EightCap platform

Furthermore, the EightCap offers an AutoTrading solution through the industry known myfxbook, which brings an account mirroring service with allowance to connect to professional traders from the social and copy trading community. This platform enables to track, compare, analyze and share trading activities directly into your trading account. In order to be able to use the platform, the account must have a minimum balance of 1,000$.

EightCap Costs and Accounts

Of course, there is a lot to consider while selecting a trading account, thus through EighCap 2 account types, there is an offer of a simple choice, either trade with Standard conditions with no complications all built into a spread or through Raw Account with spreads from 0.0 pips and commission for professional traders. What is more, all trading styles are accepted, with no restrictions to use EAs or other strategies, also with flexible lot sizing and high leverage options. Regardless the account type all traders will have the same professional conditions to trade, as well as a support from the company for any requirement.

EightCap accounts

EightCap spreads as mentioned earlier designed at the account you use, while Standard account offers slightly higher spreads with no commissions and Raw account allows to enjoy interbank spread but with commission per trade. For instance see below a comparison of the spread offering, as well you may compare EightCap fees to another popular broker ThinkMarket.

Also, always consider overnight fee as a cost, also referred to as Rollover rate, an interest for holding positions open overnight in foreign exchange trading. It is determined by the overnight interest rate and is a differential between two involved currencies and affected whether the position is a buy ‘long’ or sell ‘short’.

 

Asset/ PairEightCap Standard Spread
EUR/USD0.8
Crude Oil WTI4
Gold20 cents
Bitcoin40

EightCap spread

EightCap Leverage

One of the great features of Forex trading is an allowance to use leverage, which may increase your potential gains timely. However and in order to help traders in minimizing risks, which of course requires you to study well how to use leverage smartly, EightCap also has specific leverage restrictions according to the trading size you operate.

EightCap leverage

Therefore, as you see EightCap being an Australian brokerage still allows high leverage ratios up to 1:500 for Forex instruments bringing vast of opportunities specifically for retail traders.

EightCap Methods of Payment

The number of payment methods to fund the trading account which allows you to transfer from Demo trading to Live one including instant deposits through Visa/MasterCard, Skrill, POLi Payment, fasapay, Avodapay, China UnionPay and Bank Wire Transfers.

While you may choose at your convenience a base account currency either AUD, USD, GBP, EUR, NZD, CAD and SGD, the deposits and withdrawals will be respectively made in the same currency as the base of trading account.

As for the minimum deposit amount both accounts requires only 100$ as a start, which is a fantastic opportunity for the beginning traders or seasoned once as well.

EightCap deposit

What is amazing also, EightCap does not charge any internal fees for deposits or withdrawals, yet you should note that payments from non-Australia banks may be subject to bank fees and is solely your responsibility.

Conclusion on EightCap

EighCap review presented a trusted and regulated trading service provider which is the first and actually crucial point in managing trading risks. The business model of EighCap is built on simple trading without making choices complicated or confusing, yet providing exceptional conditions. Their main offering is the technological solution of execution trough powerful servers with centralized integration, competitive pricing provided by leading institutions and access through the powerful features of popular platform MT4 along with accounts suited for various strategies. The initial deposit to start is also an easy amount of 100$, while the only gap is deep learning materials which company does not provide, however, their support centers are showing great performance and solely considered as a con.

And of course, we would be glad to know your personal opinion about EightCap, share your experience or refer to us for some additional information on the comment area below.

MikeF From Australia | | Friday, February 15, 2019

I am writing this to WARN any prospective users to Keep well away from Eightcap Pty Ltd. DO NOT USE EIGHTCAP – Can’t Trust Them, Keep far away from them. I have had accounts with Eightcap Australia for 1 and half years and also recommended around 20 people to use them as well. On 22nd Oct 2018 they say a bad tick happened at midnight on their graphs relating to EURNZD currency pair and the price dropped 3000 points at Eightcap but did not drop on any other brokers world wide, Only Eightcap, which I have proof with over 10 other brokers pricing including Saxobank. My personal account numbers are 713069 and 713070. Because of this Fake manipulated price error it caused all accounts to go into margin call and then totally wiped out. Losses are over $570,000 and currently have a claim with AFCA Australian Financial Complaints Authority Case number 600785. Not counting loss of profit for the past 3 months on top of that as well. I received emails along with everyone else saying they openly admit the error and accounts will be fixed within 2 days. That was nearly 3 months ago and they have ignored any other requests to rectify the accounts like they promised. Eightcap representative Lynn Guo in compliance department has given many excuses trying to say anything to get out of repaying the amount they owe including blaming liquidity providers for bad pricing data but they are still responsible to their clients. They are licenced and regulated with ASIC (Australian Securities & Investments Commission) which I am hoping ASIC will investigate for the NON Compliance. I will be putting a complaint to ASIC but right now I am waiting for AFCA investigation and their meeting with Ombudsman. I will do an update with the progress of this complaint. I welcome anyone to contact me anytime for more information on +61 400 921 777. Thankyou Mike F.

James Ward From Germany | | Friday, February 1, 2019

I’ve been trading for a couple of years now and have tried out many European brokers. These guys have made a difference for me. A reliable broker, with great execution. Plus, I’ve never had any issues with withdrawals.

Sionchuen From Australia | | Saturday, November 17, 2018

I was trading with Eightcap for nearly 6 month always took my deposits with no issue but only when I a make withdrawal they freeze my account and call to say I have violated there trading policy and refused to withdraw my $83,000.00 because I used an indicator I can still see my money in my account but I cant withdraw it

No news available.

4 responses to “EightCap”

  1. I have opened an account with eightcap global and deposited to trade with mt4 account 400721. I got trading normal and have withdrawn my profit until the last 2 weeks. I had made a withdrawal request from my MT4 account and have been waiting for 2 weeks and received nonsense answers about the investigation of my account with any satisfactory explanation.

    Until yesterday I got my money back. I have received my withdrawal. But the amount is not correct. My withdrawal is $8154USD but I only received 169,945,668VND. It is 10% less than my withdrawal. Please help to check with the payment and pay the remaining 10% for me.

    • Dear San,

      Please, contact your manager and try to find out the reason they do not release your money. Also, try withdrawing smaller amounts, maybe it will work. Since the broker is regulated by ASIC, you can also contact the regulated regarding your issue.

  2. Trustworthy and regulated broker
    I like the fact that they are globally regulated and have offices worldwide – can trust them

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