Eightcap Review

  • Leverage: 1:30

  • Regulation: ASIC

  • Min. Deposit: 100 US$

  • HQ: Australia

  • Platforms: MT4, MT5

  • Found in: 2009

Eightcap Licenses

Eightcap Pty Ltd - authorized by ASIC (Australia) registration ABN 73 139 495 944  AFSL 391441

  1. EightCap Pros and Cons
  2. Is EightCap safe or a scam?
  3. Leverage
  4. Fees
  5. Spread
  6. Deposits and Withdrawals
  7. Trading Platform
  8. Conclusion

Who 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.

Eightcap performs a global operation through their reputable Australian HQ and other regional offices across the world, including the UK, Bulgaria and Cyprus. Apart from the offering to retail clients, this broker also brings technological advantages and partnership opportunities to affiliates, IBs and influencers.

Eightcap works towards building a home for MT4 and MT5 traders and aims to provide them with a personalized trading experience. This broker gives access to the most popular financial instruments, all with rapid execution and low spreads, via the award-winning MetaTrader platforms.

EightCap Pros and Cons

EighCap is a reliable broker, also provides good technological base for trading, costs are good and there is great research included in MT4 platform. Instruments are widely presented, you can withdraw fund using various methods.  

From the negative points, there is no good learning materials essential for beginners, also no 24/7 support centers.

10 Points Summary
🏢 HeadquartersAustralia
🗺️ RegulationASIC
🖥 PlatformsMT4, MT5
📉 InstrumentsCurrencies, oil, gold, silver, global indices, shares and cryptocurrencies
💰 EUR/USD Spread1.0 pips Standard Account
🎮 Demo AccountProvided
💳 Minimum deposit100$
💰 Base currenciesUSD, AUD
📚 EducationAnalysis and research
☎ Customer Support24/5

Is Eightcap safe to trade with?

No, EightCap is not a scam, it is a low-risk trading broker due to a strict regulatory or compliance culture done by a reputable license and follow of regulation set by the Australian Securities and Investments Commission (‘ASIC’), recognized world authority which regulated Forex and trading industry.

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.

Trading Instruments

The trader has access to over 250 financial instruments, including major and minor currency pairs, oil, gold, silver, shares and cryptocurrency CFDs.

Going deeper into a promised competitive offering, the broker indeed brings excellent costs with the typical spread for EUR/USD at a standard 1.0 pips, as well as a raw spread of 0.0 pips. The spread for metals XAU/USD sits at 1.0 pips.

EightCap instruments

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 allows a leverage of 1:30, presenting its users with various market opportunities.

Account types

EighCap 2 account types offer of a simple choice between two accounts, 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.

Fees

EighCap fees mainly built into a spread if you use Standard account or into a commission basis for Raw accounts. However, for full fee structure refer to the comparison table below and see all applicable fees for EighCap.

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’.

FeesEightcap FeesFXTM FeesFortrade Fees
Deposit FeeNoNoNo
Withdrawal FeeNoNoNo
Inactivity FeeYesYesYes
Fee rankingLowAverageHigh

Spreads

EightCap spreads 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.

AssetEightcap SpreadFXTM SpreadFortrade Spread
EUR USD Spread0.8 pips1.5 pips2 pips
Crude Oil WTI Spread4 pips9 pips4 pips
Gold Spread4 pips945

EightCap spread

Trading Platforms

With Eightcap, the trader will have access to MetaTrader 4 and the newer MT5 platform, which has numerous advanced features and tools. The proprietary developed platform is available for desktop and mobile apps with the same capabilities to view prices in real-time, monitor or access an account, and enable 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, Eightcap users will also have the ability to automate their trades without any coding knowledge. With the use of capitalise.ai Eightcap users will have access to automation and analytic tools, including backtesting, loop strategies, smart notifications, and much more.

Payment Methods

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, Neteller, China UnionPay and Bank Wire Transfers.

Eightcap clients can now deposit via BTC and USDT on USD accounts only.

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.

EightCap Minimum deposit

Minimum deposit is 100$ at EightCap for both account types offered. 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.

EightCap minimum deposit vs other brokers

EightCap Most Other Brokers
Minimum Deposit $100 $500

Withdrawals

EightCap withdrawal options including bank transfer, debit cards and ewallets. There is no fee for deposits and withdrawals, meaning you can easily manage fundings, yet make sure to deposit in your account base currency to avoid conversion.

EightCap deposit

Customer Support

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 of the account type all traders will have the same professional conditions to trade, as well as support from the company for any requirement.

Conclusion

EighCap stands as a trusted and regulated trading service provider with good business model 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 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.

Asen Georgiev From Bulgaria | | Tuesday, September 29, 2020

I’ve been trading with Eightcap for more than a year now and I’m really happy with the service they provide. The couple of times I had to contact their customer support they were always very friendly and my problem was solved within the same day. Highly recommend!

John Smith From Andorra | | Thursday, August 20, 2020

Been using Eightcap for a fair amount of time and all the promises they make in their ads are met. I literally have no complaints. The spreads are just as tight as promised, low commission. Fast execution… Very Satisfied!

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.

10 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

  3. Plenty of options.
    I wasn’t keen on trading only FX but with this broker, I also had the option of trading shares and oil. Great choice and I would recommend to all.

  4. please can you review why eightcap is moving to Eightcap Global. If you transfer to Eightcap Global, you will no longer have access to these Australian law protections. In its place, Eightcap Global will be regulated by the Vanuatu Financial Services Commission (VFSC) and the Financial Centre Association (FCA) who hold the power to regulate Eightcap Global and manage complaints received in relation to its Financial Dealers License.

    please could have a review on the above

  5. I’ve been in trading business long enough to say that the choice of the brokerage really matters.
    I would have said that Eightcap suits me perfectly but I only see one single disappointing detail in the features of this brokerage. The point is that they only provide MT4 and Mt5 access with no alternative solutions for professional market analysis and trading.
    Recently I’ve got fascinated with Ctrader. Maybe this is not the only alternative to MTs, yet if you need my opinion, the broker that suggests Ctrader immediately gets some competitive advantage. It gives trader a complete infomration on his orders’ execustions, removes the barrier between a broker and its client so to speak. it’s easier to trust your brokerage if you know there is a FULL transparency there in your work relationships (which MT fails to provide unfortunately). Secondly, its just convenient to use. So just in case broker’s representatives will read this review – please take into consideration the opportunity to partner with Ctrader.
    Everything else I’m completely pleased with. Tading fees, regulations, executions, support team – all is up to the highest standards!

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