Forex Broker Reviews & Ratings


Eightcap is an Australian financial services company that offers trading solutions to global customers. The company’s core products are currencies (Forex), commodities, indices, cryptocurrencies, and shares. It operates as Eightcap Pty and Eightcap Global Limited.

The company was founded in 2009 and headquartered in Melbourne, Australia. It offers customer support in ten languages: English, Chinese, Bulgarian, Thai, French, German, Portuguese, Spanish, and Vietnamese. 

Eightcap is regulated by the Australian Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Securities Commission of The Bahamas (SCB).

In conducting this review, we opened a live account and verified most of the claims made by the company.

Eightcap claims to be a globally trusted, solid broker. Does its offer live up to the hype?



  • A multi-jurisdiction-regulated broker.
  • It has a partnership with that helps customers automate their trades.
  • It is an affordable broker.
  • Customer service is excellent.
  • Limited leverage in some areas


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Eightcap Overview







Execution Type

Market Maker

Minimum Deposit


Maximum Retail Leverage

Maximum Leverage
1:30 (or 1:500 for non-Australia clients)

Trading Platform(s)

MT4, MT5

Eightcap is a global Forex and CFD broker. It has served retail traders since 2009 and has expanded to five offices worldwide. The trading environment is secure and trustworthy, with oversight by ASIC in Australia and multiple regulatory bodies elsewhere. The broker has won numerous awards, including the more recent ‘Best Forex Educational Resources – Global’ and ‘Best Forex Trading Support in Europe’ at the 2021 Global Forex Awards. Over 1,000 assets are available from the Standard and Raw accounts and can be traded through the popular MT4 and MT5 platforms. Traders using the Raw account will enjoy Raw spreads, which is ideal for high-frequency traders, scalpers and short-term traders. However, there is also a commission charged at $3.5 per standard lot traded with the raw account. Alternatively, the Standard account is ideal, with zero-commission trading applied. 

In-house research is regularly published, and new traders have access to an adequate educational section filled with quality content. While Eightcap claims to build a home for MT4 traders, its offering is lacking the added plugins that other brokers offer. It maintains only the out-of-the-box MT4/MT5 trading platforms, which require third-party plugins to reach their potential and the advertised cutting-edge trading environment. Forex traders have access to a plethora of currency pairs, but the selection requires an upgrade to accomplish more comprehensive market coverage. Equity traders can trade US, UK, German and Australian stocks. Australian traders in particular may give Eightcap a genuine consideration. This broker focuses on the basics and executes them well with untapped potential.

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Safe Regulation and Security

We always recommend trading with a regulated Forex broker to avoid falling prey to popular brokers and exchanges. A look at Eightcap’s website shows that the company is regulated by two different regulators: ASIC (Australia) and VFSC (Vanuatu).

Eightcap Entities & Regulation

I can confirm that Eightcap is indeed regulated by these agencies as claimed.

Eightcap ASIC Regulatory Details

I also did a search of the company’s registration details on the Vanuatu Financial Services Commission website and confirm that the firm is registered there.

Eightcap VFSC Regulatory Details

It is reassuring to know that Eightcap is overseen by two regulatory agencies, especially a top-tier regulator like ASIC, and that it has been in business for more than 10 years. Longevity is a relatively good predictor of future survival.

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Eightcap offers two types of accounts that incur differing fees and charges. The raw account type charges a commission that starts at $7 per round trip (trade entry plus exit). Its minimum spread starts at 0 pips. The standard account, on the other hand, charges no commission but its minimum spreads start at 1 pip.

Like most brokers, currency majors like the EUR/USD and GBP/USD usually have a lower spread than minors and exotic pairs. The lowest advertised spread for Forex in the standard account type is 1 pip. However, in most cases, the spread brokers advertise is not usually the one they offer in the live market. At times, the spread depends on the market volatility. On the other hand, if a Raw account is opened, then under normal market conditions the spread can be 0. So, I went to the live platform to see typical spreads during the London and New York Overlap.

In this case, I saw that the EUR/USD and AUD/USD had a live spread of 1 pip (10 pipettes) each, in line with the advertised minimum, while a minor pair like EUR/HUF had a spread of 14.1.

Eightcap Standard Account EUR/USD Live Spread London/NY Overlap

The chart below shows the typical spreads for commodities advertised by Eightcap.

Eightcap Commodities Typical Spreads

Eightcap also charges a swap fee for overnight trades, like almost every other Forex / CFD brokers. You can view the swap rates by going to MT4/5, right-clicking on your preferred symbol, and selecting specification. Finally, you should scroll down to see the swap rates for long and short trades.

Eightcap Swap Charges in MT4 Platform

Eightcap does not charge any inactivity fee, which is a good thing because several brokers do charge such a fee, typically after no trade has been placed for two or three months. I do not see a good reason why a retail Forex / CFD broker could justify the imposition of such a fee.

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What Can I Trade

Eightcap maintains a well-balanced asset selection and continues to expand it, delivering on its promise of being a multi-asset broker. It grew into one of the leading non-crypto brokers offering cryptocurrencies, with 250+ trading instruments in this sector.

The most recent additions to the Eightcap asset list include:

  • Zinc (XZNUSD)
  • Nickel (XNIUSD)
  • 310 ASX Share CFDs
  • 100 NASDAQ Share CFDs
  • 100 NYSE Share CFDs
  • 105 LSE Share CFDs
  • 45 German Share CFDs

While Eightcap trails in its Forex, commodities, and index selection, where sufficient trading instruments are available for focused trading strategies requiring few but highly liquid assets, Eightcap continues to expand its equity CFD selection, now at 660. Traders must use the MT5 trading platform to get access to all these trading instruments, as Eightcap maintains fewer assets in MT4.

What could be better?

  • I am missing mid-cap and small-cap alternatives from the equity CFD list
  • A broader selection of Forex, commodity, and index CFDs
  • Eightcap does not offer ETFs or bonds

Asset List and Leverage Overview

Currency Pairs


Cryptocurrency Pairs


Commodities and Metals


Index CFDs


Equity CFDs






Options, Futures, and Synthetics


Maximum Retail Leverage


Maximum Pro Leverage



Eightcap Leverage


Eightcap offers maximum leverage of 1:500 for Forex traders through its Bahamas subsidiary, which can be great for active traders as it presents more overall trading flexibility, directly influencing profitability. The Bahamas subsidiary also offers portfolio hedging, not available through its Australian subsidiary.


Other things to note about Eightcap’s leverage offering:

  • The Australian subsidiary limits maximum leverage to 1:30, due to regulatory restrictions.
  • Eightcap offers negative balance protection, vital for leveraged trading, as it ensures traders cannot lose more than their deposits.
  • The leverage also depends on the sector and asset, with Forex usually the maximum, and equity CFDs or cryptocurrencies the lowest.

Eightcap Trading Hours (GMT +1 Server Time)

Asset Class




Monday 00:00

Sunday 23:59


Monday 00:00

Friday 24:00


Monday 01:01

Friday 23:59

European CFDs

Monday 10:05

Friday 18:25


Monday 14:35

Friday 20:55



  • Equity markets open and close each trading day and are not operational continuously like Forex and cryptocurrencies
  • Some assets open and close at different times, as outlined in the specifications available from the trading platform

I recommend the following step for MT4/MT5 traders to access trading hours:


1. Right-click on the desired symbol in the Market Watch window and select Specification.

2. Scroll down until you see Sessions.


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Account Types

Demo Account 

Eightcap offers three account types. First, there is a 30-day demo account (it expires after 30 days) that gives you access to the company’s products without any risk because it uses fake cash. This account is ideal for beginners or experienced traders who are creating and testing a trading strategy.

Live Account Types 

Eightcap offers a “Raw Account” and a “Standard Account”. The main difference between these two is the pricing structure. The raw account charges a commission per trade while the standard one charges a spread. A spread is a difference between the ask and bid prices. The commission on the raw account is $3.50 per trade.

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Trading Platforms

Eightcap offers the MT4 and MT5 trading platforms for desktop and mobile devices. The desktop software offers more features than the mobile one.

In general, the MT4 and MT5 look the same but the latter has more features.



  • It allows more assets like stocks.
  • It has fewer in-built indicators, but the rest can be downloaded and installed manually.
  • It has more in-built technical indicators like the Variable Index Dynamic Average.
  • It does not have an economic calendar
  • It has an in-built economic calendar.
  • Recommended for newer traders.
  • It is more ideal for advanced traders.

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Unique Features

The most unique feature offered by Eightcap which I was able to note is, which is a platform that helps customers create bots using intuitive non-coding language. You use the platform by just connecting it to your MT4 and then adding commands that will be executed. You can create a strategy from scratch or use one of the several prebuilt templates. Dashboard

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Research and Education

Many brokers provide a comprehensive suite of educational and research content. Eightcap has an educational page that features content on topics like swing trading and technical analysis. This content, however, is not structured as a course. The education page is only available in the English version of the website.

Eightcap Trading Education

Eightcap also has a market analysis page where it offers insights on the trading day. The page is divided into CFD news, Forex news, and market updates. These analyses are delivered in both video and text format. The content here overall is of quite good quality.

Eightcap Market Updates

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Customer Support

Eightcap offers customer support in several ways, including a phone call, email, and online chat. I tried each of these three options and the response time was relatively fast for all. There was no long queue when I called. Similarly, my email messages were replied to within seconds. I found the customer service representatives being knowledgeable about the questions I asked.

 Eightcap Customer Service Chat

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Currently, Eightcap offers customised promotions for non-Australian clients only, including refer-a-friend. 


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Opening an Account

I started by first trying out Eightcap’s demo account and the process was very easy. They just requested my name, email address, country, and phone number. I then went on to download the MT4 after verifying my email address.

Eightcap MT4 Trading Platform

Opening a live account with Eightcap was a relatively easy process. Like other Forex brokers, I was asked to provide basic information like my name, country of residence, email address and phone number.

Eightcap Account Opening Form

After entering this information, the company sent me a confirmation link to my email, which I used to verify the account easily. The company then asked further details like account type – individual, joint, enterprise – and personal details.

Eightcap Account Opening Application

A live chat feature was readily available for me to get any help along the way. I tried using the chat feature and I was impressed by the speed and quality of the response.

Eightcap Account Opening Chat

In the next step, I was asked to select my account type, preferred trading platform, and the account currency. In this case, I selected MT4, standard, and US dollar.

Eightcap Account Setup

In this final stage, Eightcap requested my identification documents and a proof of residence. The firm then spent about 12 hours going through my documents and accepted my application. In general, the account opening process ran smoothly and met good industry standards.

I also asked Eightcap about the available options for customers who lack a proof of residence. The company has a process for them to become customers. It includes sending a signed document from a bank manager, magistrate, landlord, immigration officer, notary, police officer, and an accountant.

Minimum Deposit 

The minimum deposit in Eightcap for both the Raw and Standard accounts is $100.

Payment Methods 

Eightcap accepts several payment methods, including:

  • PayPal
  • Wire transfer
  • Credit and debit card
  • Poli Payment
  • BPay
  • China UnionPay
  • Skrill
  • Neteller
  • Bitcoin
  • Tether

Eightcap does not charge any deposit or withdrawal fees. However, the respective payment methods will adapt their fees for the transactions. In most cases, the payment will reflect in your account instantly. Some deposit options like wire transfer will usually take a little time to be processed.

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Deposits and Withdrawals

Eightcap offers multiple ways for customers to deposit and withdraw their funds. The available deposit methods are Visa and Mastercard credit and debit cards, Poli Payment, Wire Transfer, BPay, China Union Pay, Skrill, PayPal, and Neteller. The debit and credit card deposit options accept payments in USD, GBP, EUR, NZD, CAD, and SGD. Traders can also fund their accounts with Bitcoin and Tether. The deposit option is free and can be done on a 24/7 basis. A bank wire transfer takes 1-3 business days to complete.

BPay and Poli Payment accept only Australian dollars, while China Union Pay accepts RMBs only. There are no charges to deposit and withdraw funds, although some options have some external costs.

I used PayPal to fund my account and the process was very smooth, taking less than 5 minutes to complete.

The withdrawal process was also swift. You just need to go to your client area, select the payment option, select the trading account you want to withdraw, and confirm the details. The company typically asks several questions and seeks documents for first time customers to comply with KYC and AML laws. This is a common practice among Forex / CFD brokers.

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General Information

Company Information

  • Broker’s Name : Eightcap
  • Headquarters : Australia
  • Regulation : ASIC, FSC

Account Information

  • Type of Broker : 35,38
  • U.S. Clients Allowed :
  • Minimum Deposit : $100
  • Maximum Leverage : 1:500
  • Commissions / Spreads : Both
  • Account 1 : Standard
  • Account 2 : ECN
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : MetaTrader 4, MetaTrader 5
    • OS Compatibility :

      • Mobile
      • Web
      • iPhone
      • iPad
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :

      • English
      • Bahasa
      • Thai
      • Portuguese
      • Chinese
      • German
      • French
      • Italian
      • Spanish
      • Other
  • Support Hours : 24/5
  • E-mail Support :
  • SMS Support :
  • Chat :

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Eightcap vs Comparisons

Broker Alternatives

We have gathered a list of the top broker alternatives to Eightcap, and conducted an in-depth broker comparison to assist you in choosing the right broker for your trading needs.

eToro vs Eightcap vs Eightcap

Alpari vs Eightcap

Eightcap vs

Eightcap vs Avatrade

Eightcap vs OctaFX

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How much capital do I need to trade with Eightcap?

The minimum deposit is $100 or a currency equivalent, but the total required capital depends on the trader and desired assets. Forex trading carries significantly lower entry requirements than equity trading.

What is the maximum leverage at Eightcap?

Maximum leverage at Eightcap Pty Ltd is 1:30. Maximum leverage for clients trading with Eightcap Global Ltd is 1:500. Leverage is also asset dependent.

Does Eightcap offer a demo account?

Yes, traders may request a demo account from Eightcap. While it expires after 30 days, traders may request an unlimited one by contacting customer support.

How do I open a live account with Eightcap?

An online form processes new account openings. The application button, located in the top-right corner of the website, opens a brief registration form. Account verification is mandatory to comply with AML stipulations. The process follows well-established industry standards.

What can I trade on Eightcap?

Eightcap offers more than 200 assets across Forex, commodities, equity, and index CFDs.

Is Eightcap regulated?

Yes. Eightcap is regulated by the Australian Securities and Investment Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).

Is Eightcap a market maker?

Yes. Eightcap is a safe broker. It has been in the industry for more than a decade and I did not find any complaints about its safety. It also has a good rating in TrustPilot.

Is Eightcap a good broker?

Eightcap offers a choice of two account types with differing execution models. One is Raw, the other is Standard. Standard brokers are not strictly speaking market makers but tend to offer similar pricing and execution to market makers.

What is the maximum leverage in Eightcap?

Eightcap has a maximum leverage of 500:1 for its VFSC offering and 30:1 for its ASIC offering.

How much capital do I need to trade with Eightcap?

Eightcap requires a minimum deposit of $100 or its currency equivalent.

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User Reviews

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