Eightcap
Australia
Established: 2009
General overview
Eightcap is a globally recognized forex and CFD broker, founded in 2009, and headquartered in Melbourne, Australia. It is well-regulated, holding licenses from reputable authorities such as the Australian Securities & Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the U.K., ensuring a high level of trust and safety. Eightcap offers access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, widely preferred by traders for their advanced features. Additionally, Eightcap provides a variety of financial instruments, including forex, indices, commodities, stocks, and cryptocurrencies, making it a versatile choice for traders. The broker is also noted for its competitive pricing, fast execution, and availability of third-party tools like Capitalise.ai for algorithmic trading. However, its research and educational offerings could be improved to match the industry’s best.
Pros
- Regulatory Compliance: Regulated by multiple top-tier financial authorities, including ASIC, FCA, CySEC, and SCB
- Wide Range of Trading Instruments: Offers access to 800+ CFDs across various markets, including forex, indices, commodities, and over 300+ cryptocurrencies
- Multiple Trading Platforms: Supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView, providing flexibility to traders depending on their preference
- No Deposit/Withdrawal Fees: Eightcap does not charge any fees for deposits or withdrawals, though third-party fees may still apply
Cons
- Restricted in Several Countries: Eightcap is unavailable to traders from certain regions, including the U.S., Canada, Japan, and some countries in Africa and the Middle East
- No Negative Balance Protection in Some Regions: Not all jurisdictions where Eightcap operates offer negative balance protection, meaning traders could lose more than their deposit in certain circumstances
- Lack of Educational Resources: The platform offers limited educational content for beginners, which could be a drawback for less experienced traders
- No Swap-Free (Islamic) Account: Unlike many other brokers, Eightcap does not offer swap-free accounts for traders adhering to Islamic finance principles.
Regulations: ASIC, SCB, SFSA
Eightcap is considered a trustworthy broker due to its strong regulatory framework. It is authorized and regulated by top-tier financial authorities, including the Australian Securities & Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the U.K. This ensures that Eightcap adheres to stringent industry standards, offering a secure trading environment. Additionally, the broker is regulated in the EU by the Cyprus Securities and Exchange Commission (CySEC) and in the Bahamas by the Securities Commission (SCB). Although Eightcap is not publicly traded, it follows best practices in client fund protection by keeping client funds in segregated accounts with reputable banks, ensuring further security.
Is Eightcap Regulated?
Yes, Eightcap is a regulated forex and CFD broker. It holds licenses from several top-tier regulatory bodies, including the Australian Securities & Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the U.K., which ensures a secure and transparent trading environment. Additionally, Eightcap is regulated by the Cyprus Securities and Exchange Commission (CySEC) in the EU and the Securities Commission of the Bahamas (SCB). These regulatory bodies enforce strict compliance, ensuring that Eightcap follows best practices in client fund protection and overall operational transparency. This strong regulatory oversight enhances the broker's trustworthiness for traders globally.
Is Eightcap safe?
Eightcap is considered a safe broker due to its strong regulatory framework and commitment to client protection. It is regulated by top-tier authorities, including the Australian Securities & Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the U.K., ensuring adherence to strict industry standards. Client funds are held in segregated accounts with reputable banks, enhancing the safety of traders' assets. Additionally, Eightcap is regulated by CySEC in the EU and the Securities Commission of the Bahamas (SCB). While it is not publicly traded, these regulations and fund protection measures make Eightcap a secure option for traders.
Web | MetaTrader 4 | MetaTrader 5 | TradingView
Visit PlatformsEightcap offers a robust selection of trading platforms, catering to both beginner and advanced traders. The broker provides access to the highly popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known for their advanced charting tools, automated trading options, and customizable interfaces. These platforms support algorithmic trading and the use of Expert Advisors (EAs), making them suitable for a wide range of trading strategies. Additionally, Eightcap integrates with Capitalise.ai for traders who want to automate strategies without coding. With desktop, web, and mobile versions available, Eightcap ensures flexibility for traders on the go.
Eightcap MetaTrader 4
Eightcap offers the highly popular MetaTrader 4 (MT4) platform, which is widely known for its user-friendly interface and advanced trading features. MT4 provides access to a range of powerful tools, including advanced charting, over 30 technical indicators, and customizable trading strategies using Expert Advisors (EAs) for automated trading. The platform is ideal for both beginner and experienced traders, offering fast execution and support for multiple order types. Additionally, MT4 is available in desktop, web, and mobile versions, allowing for seamless trading across devices. Overall, Eightcap's MT4 platform provides a reliable and flexible trading experience.
Eightcap MetaTrader 5
Eightcap offers the MetaTrader 5 (MT5) platform, an advanced trading solution designed for more experienced traders who require additional tools and features. MT5 builds on the strengths of MetaTrader 4 by offering more timeframes, additional order types, and an expanded range of technical indicators for more comprehensive market analysis. With support for multi-asset trading, including forex, commodities, indices, stocks, and cryptocurrencies, Eightcap’s MT5 platform allows traders to diversify their portfolios effectively. The platform also enables algorithmic trading through Expert Advisors (EAs) and provides seamless integration across desktop, web, and mobile devices, ensuring flexibility and convenience for traders.
Eightcap Mobile Platform
Eightcap’s mobile trading platform is available through both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), offering a comprehensive on-the-go trading experience. The mobile apps provide real-time quotes, advanced charting tools, and the ability to execute trades with fast ECN execution. Traders can access a wide range of instruments, including forex, commodities, indices, and cryptocurrencies, all from their mobile devices. The apps support multiple timeframes, technical indicators, and customizable charting options, ensuring a robust trading environment. Available on both iOS and Android, Eightcap’s mobile platforms provide flexibility and ease of use for traders who need to monitor markets anytime, anywhere.
Instruments: Currencies, Crypto, Indices, Metals, Energies
Eightcap offers a wide range of tradable instruments, providing access to over 40 forex pairs, including major, minor, and exotic currencies. In addition to forex, traders can engage in commodities, such as gold, silver, and oil, as well as indices like the S&P 500 and NASDAQ. Eightcap also allows trading in cryptocurrencies, offering one of the largest selections of crypto pairs among brokers, as well as stock CFDs from major global markets. This extensive variety enables traders to diversify their portfolios and explore multiple markets under one platform. Overall, Eightcap delivers a comprehensive selection of instruments suitable for various trading strategies.
Forex
Eightcap offers an extensive range of forex pairs, providing access to over 40 major, minor, and exotic currency pairs. Traders can engage in popular pairs like EUR/USD, GBP/USD, and AUD/USD, as well as more volatile exotic pairs for diversified trading opportunities. With tight spreads and fast ECN execution, Eightcap ensures a smooth trading experience for both beginner and advanced forex traders. The broker also offers competitive leverage of up to 1:500 for forex trading, making it an attractive choice for traders looking to maximize their market exposure. Overall, Eightcap's forex offerings are ideal for traders seeking flexibility and cost-efficient trading.
Commodities
Eightcap offers a solid selection of commodities for traders, allowing access to key markets such as gold, silver, oil, and other major commodities. These instruments are traded as Contracts for Difference (CFDs), which means traders can speculate on price movements without owning the physical asset. Eightcap provides competitive spreads and fast ECN execution, making it appealing for traders looking to capitalize on price volatility in the commodities market. The range of available commodities offers a great way to diversify trading strategies beyond forex and indices, catering to both beginner and advanced traders.
Indices
Eightcap provides a diverse selection of indices, allowing traders to access major global markets such as the S&P 500, NASDAQ, FTSE 100, and DAX 30. These indices are traded as Contracts for Difference (CFDs), enabling traders to speculate on the performance of entire markets without owning the underlying assets. Eightcap offers tight spreads and fast ECN execution on its index products, making it an attractive option for traders looking to capitalize on global market movements. This range of indices helps traders diversify their strategies and gain exposure to multiple international markets.
Cryptocurrencies
Eightcap stands out in the market for offering a wide range of cryptocurrency CFDs, allowing traders to access over 250 crypto pairs. These include popular cryptocurrencies like Bitcoin, Ethereum, Ripple, and Litecoin, along with several altcoins, making it one of the brokers with the largest selection of crypto trading options. Cryptocurrencies are traded as Contracts for Difference (CFDs), allowing traders to profit from price movements without needing to own the digital asset. With tight spreads and high leverage options, Eightcap is a top choice for traders looking to capitalize on the volatility of cryptocurrency markets.
Eightcap offers two main account types to cater to different trading needs: the Standard Account and the Raw Account. The Standard Account is designed for beginner and casual traders, featuring commission-free trading with spreads starting from 1.0 pips. It provides a simple and accessible way to start trading without additional costs. The Raw Account is tailored for professional and high-volume traders, offering spreads as low as 0.0 pips with a competitive commission of $3.50 per lot per side, providing better conditions for those seeking tighter spreads. Both Eightcap account types offer access to a wide range of instruments, including forex, commodities, indices, and cryptocurrencies.
Standard Account
The Standard Account at Eightcap is designed for beginner and casual traders who prefer a simple, commission-free trading experience. With spreads starting from 1.0 pips, this account type offers a straightforward way to trade forex, commodities, indices, and cryptocurrencies without incurring additional commission fees. It provides access to the same advanced features of the MetaTrader 4 and MetaTrader 5 platforms, allowing traders to utilize technical indicators, charting tools, and automated trading features. The Standard Account is ideal for those who want to trade with low upfront costs and maintain flexibility in their trading strategies.
Raw Account
The Raw Account at Eightcap is tailored for professional and high-volume traders seeking tighter spreads and lower trading costs. With spreads starting from 0.0 pips, this account provides access to raw market pricing, paired with a $3.50 per lot per side commission. It is ideal for traders who prioritize cost-efficiency and require more precise pricing for their trading strategies. The Raw Account supports trading on MetaTrader 4 (MT4) and MetaTrader 5 (MT5), giving users access to advanced charting tools, technical analysis, and automated trading features. This account type is well-suited for those looking to trade with minimal spreads and fast execution.
Eightcap offers a variety of deposit and withdrawal options to suit different trader preferences. Funding methods include Visa/Mastercard, bank transfers, PayPal, Skrill, and Neteller, providing flexibility for global users. The broker does not charge any deposit or withdrawal fees, which is a significant advantage, although third-party fees may apply depending on the payment provider. Eightcap Withdrawals are typically processed quickly, with e-wallets offering the fastest turnaround times, while bank transfers may take a few business days. Overall, Eightcap provides a seamless and cost-effective deposit and withdrawal process for its clients.
Eightcap Deposit Options and Fees
Eightcap offers a range of deposit options, allowing traders to fund their accounts via Visa/Mastercard, bank transfers, PayPal, Skrill, and Neteller, providing flexibility for global users. One of the key advantages is that Eightcap does not charge deposit fees, which is a significant benefit for traders looking to minimize costs. Deposits are typically processed quickly, with instant funding available for methods like credit cards and e-wallets, while bank transfers may take a few business days. However, traders should be aware that third-party fees, such as those charged by banks or payment providers, may still apply.
Eightcap Withdrawals Options and Fees
Eightcap provides flexible withdrawal options, including Visa/Mastercard, bank transfers, PayPal, Skrill, and Neteller, making it easy for traders to access their funds. One of the broker’s key advantages is that it does not charge withdrawal fees, which adds value for cost-conscious traders. However, traders should be mindful of potential third-party fees, such as those imposed by banks or payment providers, depending on the withdrawal method. Withdrawal processing times vary, with e-wallets generally being the fastest, while bank transfers may take a few business days. Overall, Eightcap offers a seamless and cost-effective withdrawal experience.
Mastercard
Visa
PayPal
Skrill
UnionPay
Bitcoin
Eightcap offers competitive and transparent fee structures, depending on the account type. For Standard accounts, there are no commissions, but spreads start from 1.0 pips, making it ideal for beginner traders. For Raw accounts, spreads start as low as 0.0 pips, but a commission of $3.50 per lot per side is charged, making it suitable for high-volume and professional traders. Eightcap does not charge deposit or withdrawal fees, which adds value for cost-conscious traders. However, third-party fees may apply depending on the payment provider used. Overall, Eightcap provides flexible fee structures that cater to different trading needs.
Eightcap Trading Fees
Eightcap offers competitive trading fees across its account types, catering to different trading styles. For the Standard account, there are no commission fees, but spreads start from 1.0 pips, making it suitable for beginner or casual traders. The Raw account, aimed at professional and high-frequency traders, offers spreads starting from 0.0 pips with a $3.50 per lot per side commission, which is cost-effective for those who prioritize tighter spreads.
Eightcap Spreads
Eightcap offers competitive spreads tailored to different types of traders. For Standard accounts, the spreads start from 1.0 pips and are commission-free, making it suitable for beginner and casual traders. For traders looking for tighter spreads, the Raw account offers spreads starting as low as 0.0 pips, but there is a commission of $3.50 per lot per side, making it ideal for high-volume and professional traders. The tight spreads, especially on the Raw account, provide an opportunity for cost-efficient trading, particularly for those focused on forex and CFD markets.
Eightcap Non-Trading Fees
Eightcap is known for keeping non-trading fees to a minimum, making it cost-effective for traders. The broker does not charge any deposit or withdrawal fees, which is a significant advantage over many competitors. Additionally, there are no inactivity fees, meaning traders are not penalized for leaving their accounts dormant for a period of time. However, it's important to note that third-party fees may apply depending on the payment method used, such as bank transfers or certain e-wallets. Overall, Eightcap’s non-trading fees are very trader-friendly, contributing to its appeal as a low-cost broker.
Eightcap does not typically offer bonuses or promotions, focusing instead on providing transparent and competitive trading conditions. The broker has, in the past, occasionally run promotional offers, such as deposit bonuses or trading credit incentives for new clients, though these are generally limited and may vary by region. Due to regulatory restrictions, especially in regions like Europe and Australia, Eightcap is often unable to provide such promotions regularly. Traders are encouraged to check the broker’s website for any updates on available promotions, as they are subject to change depending on jurisdiction.
Eightcap offers a growing education hub aimed at helping traders enhance their skills, featuring a variety of educational articles, videos, and webinars. The educational content covers key topics such as trading strategies, risk management, and market analysis, making it suitable for both beginner and intermediate traders. Eightcap also provides access to archived webinars, such as its TraderFest series, and a range of educational videos, although the selection could be expanded to offer more advanced content. While the broker offers a decent amount of written material, adding quizzes and progress-tracking tools could improve its overall educational offering.
Eightcap is available to traders from a wide range of countries, providing global access to its forex and CFD trading services. The broker is regulated by top-tier authorities such as the Australian Securities & Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the U.K., allowing it to serve clients from many regions, including Europe, Asia, Africa, and Australia. However, Eightcap does not accept clients from certain restricted countries, including the United States, Canada, and a few others, due to regulatory constraints. Overall, Eightcap's broad international reach makes it a popular choice for traders worldwide.
Excluded Countries
United States
North Korea
Afghanistan
Iran
Libya
Sudan
Somalia
Syrian Arab Republic
Myanmar
Zimbabwe
Pakistan
Russian
Eightcap offers reliable and responsive customer support, available 24/5 to assist traders via multiple channels, including live chat, email, and phone. This ensures that traders can quickly reach out for help with account setup, platform navigation, or trading-related inquiries. The broker is known for its efficient support team, providing fast and knowledgeable responses. In addition, Eightcap features a comprehensive FAQ section on its website, addressing common issues and queries. While customer service is available during market hours, offering 24/7 support could enhance its service further for traders in different time zones.
Broker Name: Eightcap
Broker Type: STP, ENC
Country: Australia
Operating since year: 2009
Regulations: ASIC, SCB, SFSA
Phone: 0333 150 3027
Email: [email protected]
Address: 40 Gracechurch St, London EC3V 0BT
Broker status: Active
Yes, Eightcap is regulated by multiple top-tier authorities, including the Australian Securities & Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the U.K. It is also regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Securities Commission of the Bahamas (SCB).
The Eightcap minimum deposit is $100, making it accessible for most traders. This applies to both the Standard and Raw account types.
Eightcap supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are available on desktop, web, and mobile devices. These platforms are known for their advanced charting tools, algorithmic trading, and customization options.
Eightcap does not charge any deposit or withdrawal fees, although third-party fees from banks or payment providers may apply depending on the method used.
Eightcap offers a wide range of instruments, including forex, commodities, indices, cryptocurrencies, and stock CFDs, providing traders with multiple options for diversification.
Eightcap provides leverage up to 1:500 for forex trading, which allows traders to take larger positions with smaller capital, though this varies by region and regulation.
Yes, Eightcap provides a variety of educational materials, including articles, videos, and webinars. The educational content covers trading strategies, market analysis, and risk management.
No, Eightcap does not accept clients from the United States, Canada, or certain other restricted regions due to regulatory restrictions.
Leave your thoughts