Eightcap Review

  • Leverage: 1:500

  • Regulation: ASIC, SCB, CySEC, FCA

  • Min. Deposit: 100 US$

  • HQ: Australia

  • Platforms: MT4, MT5, TradingView

  • Found in: 2009

Eightcap Licenses

  • Eightcap Pty Ltd - authorized by ASIC (Australia) registration ABN 73 139 495 944  AFSL 391441
  • Eightcap Global Limited - authorized by SCB (The Bahamas) registration SIA-F220
  • Eightcap EU Ltd  - authorized by CySEC (Cyprus) registration HE 329922
  • Eightcap Group Ltd - authorized by FCA (UK) registration FRN 921296
  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

Our Review Method

  • 55Brokers Financial Experts with over 10 years of experience in Forex Trading check the trading proposal including fees, platforms, verified regulations, contacted customer service, and placed traders to see trading conditions and give expert opinions about EightCap.

Who is Eightcap?

Eightcap is an Australian incorporated brokerage company, Forex and CFD Broker 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.

Where is EightCap based?

Eightcap performs a global operation through their reputable Australian HQ and other international office based in the Bahamas.  Eightcap maintains 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.

Apart from offering to retail clients, this broker also brings technological advantages and partnership opportunities to affiliates, IBs and influencers.

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, and you can withdraw fund using various methods, which overall is quite a good established offering with our opinion. 

From the negative points, there is no good learning materials essential for beginners, also no 24/7 support centers, besides mainly accounts are opened under Bahamas entity which does not provide high customer security like ASIC based EightCap.

AdvantagesDisadvantages
Regarded broker with good reputationConditions and trading costs vary according to entity
Wide range of instruments availableEducation is limited
Low Spreads for Forex No 24/7 Support
Good Platform selection
Professional Research

EightCap Broker Website

EightCap Review Summary in 10 Points
🏢 HeadquartersAustralia
🗺️ RegulationASIC, SCB, CySEC, FCA
🖥 PlatformsMT4, MT5, TradingView
📉 InstrumentsCurrencies, oil, gold, silver, global indices, shares and cryptocurrencies
💰 EUR/USD Spread1.0 pips Standard Account
🎮 Demo AccountProvided
💳 Minimum deposit$100
💰 Base currenciesUSD, AUD
📚 EducationAnalysis and research
☎ Customer Support24/5

Overall EightCap Ranking

With our Expert finds and overall review EigtCap proposal is quite good for Forex or CFDs traders. We found good technology provided, low spreads compared to industry offering and overall good trading conditions.

  • EightCap Overall Ranking is 8 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
RankingEightcapInstaForexFBS
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
AdvantageLow FeesLow DepositLow Spread

Eightcap Alternative Brokers

Yet, we found some disadvantages too, Eighcap mainly opens accounts under International entity where safety conditions are lowered, also offering might not be the best for very beginners since education is limited compared to other brokers. So it is good to consider other brokers too, see our selection of Alternative Brokers below:

Is Eightcap safe to trade with?

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 regulations set by the Australian Securities and Investments Commission (‘ASIC’), a recognized world authority that regulates Forex and trading industry.

Also, Eightcap is a brand of Eightcap Group Ltd which is authorised and regulated by the Financial Conduct Authority, FRN 921296. Eightcap Group Ltd is a company registered in England and Wales with registration number 12448314. 

Eightcap Group Ltd offers CFD trading on over 600 markets across forex, indices, commodities, and shares. Eightcap’s UK entity is the only dedicated, specialist TradingView broker in the UK, providing a tailored product experience to get the most out of trading via TradingView.

Our conclusion on EightCap Reliability:

  • Our Ranked Eighcap Safety Score is 8 out 0f 10 for good service along the years and excellent service via an Australian entity. Yet, international traders are operating via offshore zone with lower requirements. So, we advise opening an account at EightCap ASIC regulated for better safety.
EightCap Strong PointsEightCap Weak Points
License from Australia ASICInternational Trading under Offshore regulations
Negative Balance Protection appliedSafety measures vary based on entity
Customer Protection
Good Reputation

Is EightCap available in Nigeria?

Since Eightcap serves an additional entity that serves global clients from its offshore branch based in the Bahamas almost all International traders including Nigeria can open account under this entity. Of course, we do not recommend trading with solely offshore brokers, however, since Eightcap also follows reputable license from ASIC it means the broker is sharply regulated in terms of its operation.

  • Australia 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 License

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 Leverage has specific restrictions according to the trading size you operate and entity you trade.

  • Eightcap Australia allows leverage of up to 1:30
  • International Traders may access high leverage 

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. See some of our finds below:

ProsCons
Fast digital account openingConditions vary based on entity rules
Options between Spread only or Comission based Accounts
Demo Account

EightCap spreads

Trading Instruments

The broker offers 800+ instruments, including major and minor currency pairs, oil, gold, silver, shares, cryptocurrency CFDs, and indices. 

The broker also constantly expanded its prooposal, like we saw it add now Stock CFDRange by adding ASX Share CFDs, NASDAQ Share CFDs, NYSE Share CFDs, LSE Share CFDs, German Share CFDs.

  • Eighcap Instrument Score is 8 out 0f 10 for good trading instrument proposal and constant improvement and adding new instruments. However, we see the range of instruments is different based on entity.
Review EightCap Instruments
Review EightCap Instruments

Eightcap 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, see our find below.

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’.

  • Eightcap Fees are ranked good with overall rating 8 out of 10 based on our testing and compared to over 500 other brokers. Overal fees are good, some deposits and withdrawals are free, but we recommend checking entity rules

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

Spreads

EightCap spreads are designed for the account you use, while Standard account offers slightly higher spreads with no commissions and Raw account allows enjoying interbank spread but with commission per trade.

As we found, EightCap 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.

For instance see below a comparison of the spread offering, as well you may compare EightCap fees to another popular broker FBS.

  • Eightcap Spreads are ranked average with overall rating 9 out of 10 based on our testing comparison to other brokers. 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.
AssetEightcap SpreadFXTM SpreadFortrade Spread
EUR USD Spread0.8 pips1.5 pips2 pips
Crude Oil WTI Spread4 pips9 pips4 pips
Gold Spread4 pips945

EightCap spread

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, Neteller, China UnionPay and Bank Wire Transfers.

  • EightCap Funding Methods we ranked Good with overall rating 9 out of 10. The Minimum deposit is $100. Besides, international trading supports numerous methods with low fees, while the European is rather modest offering only the most used and regulated ones, but still conditions are good in our opinion.
  • Eightcap clients can now make Crypto 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.

Here are some good and negative points for EightCap funding methods found:

Eightcap AdvantageEightcap Disadvantage
Various Deposit and Withdrawal methods supportedMethods vary according to entity
Multiple Account Base CurrenciesWithdrawal fee may be applicable due to regional laws
PayPal Deposit and Crypto Deposits accepted
Withdrawal requests processed quickly

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. See Card Depositt comparison below:

EightCap deposit

Trading Platforms

With Eightcap, the trader will have access to MetaTrader 4 and the newer MT5 platform, which has numerous advanced features and tools. Also, Traders now have an access to TradingView, which enables traders to set up a multi-monitor workspace.

Scores & Availability of different platforms

  • Eightcap Platform is ranked Good with overall rating 9 out of 10 compared to over 500 other brokers. We admit good selection with popular MT4, MT5 also its own platform included, while software is user friendly and there is no restrictions on strategies.
PlatformsEightCap PlatformsInstaForex PlatformseToro Platform
MT4YesYesNo
MT5YesYesNo
TradingViewYesNoNo
Own PlatformYesYesYes
Mobile AppYesYesYes

Desktop Platform

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.

  • What we found as great, MT4 provides all the necessary tools and resources that are essential for successful trading, with a range of indicators, and strategies to use.
  • 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.
  • 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.

EightCap platform

Customer Support

EightCap provides 24/5 customer service available via various service centers and various methods inlcuding Live Chat and Emails, also we found team quite responsive.

  • Customer Support in EightCap we rank Good with overall rating 8 out of 10 based on our testing. We found customer team responsive, also supporting various languages

See our find and Ranking of EightCap Customer Service Quality:

ProsCons
Availability of Live Chat, Email and International Phone LinesNo 24/7 support
Quick response
Relevant Answers

Education

Based on our finds Eightcap provides some education but mainly analysis and quite good research tools. For education itself it is limited to platform guides and overview of strategies, while research is good with numerous tools included.

  • Eightcap Education ranked with overall rating 7 out of 10 based on our findings, so compared to other brokers education is limited and does not include good Trading Academy like other brokers have, which is more suitable for beginning traders so.  However, research is good at Eighcap

Eightcap Review Education

EightCap Review 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 good conditions. Their main offering is the technological solution of execution trough powerful servers with centralized integration, we found competitive pricing provided by leading institutions and access through the powerful features of popular platform MT4 along with accounts suited for various strategies.

While the only gap is deep learning materials which company does not provide, however, their support centers are showing great performance also Analysis is quite professional one.

Based on Our findings and Financial Expert Opinion EightCap is Good for:

  • Forex Traders
  • Traders who prefer MT4 or MT5 platform
  • EAs running
  • Long Term Trading
  • Raw Spread Trading
  • Trading Analysis
  • Traders with Variety of Trading Strategies
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

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16 responses to “Eightcap”

  1. I have been investing with a company called Eightcap optional trade on a telegram site, is this company associated with yours or not, Mark Thompson is the broker? I have had no success receiving any kind of profit!
    Thank you and waiting for response
    Joe Kozak

    • I invested with Mark Thompson on telegram and he uses the same name eightcap. I invested money and lost a lot of money but never received any profit. He continued asking for more deposit and more money and fake promises but I never got any money back in the end. I lost over $4000USD. He’s fake and his group is a scan. Do not invest with him. He needs to be reported.

  2. 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!

  3. 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

  4. 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.

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

  6. 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.

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