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Overall Score
4.0 /5

Pros

  • 1,000+ Assets offered
  • High leverage available
  • Great crypto assets selection
  • Top Tier Regulations

Cons

  • Limited Product Portfolio
  • No Bonus Available
Visit Eightcap
  • Main Regulators: CySEC, ASIC, FCA, SCB
  • Crypto: Yes
  • Minimum Deposit: $100
  • Average Trading Cost EUR/USD: 1.0 pips
  • Withdrawal Fee: $0
  • Account Opening: 1 Day
Year Established
2009
Headquarters
Australia
Traded Assets
1,000+
Options
Crypto
Trading Fees
Average
Trading Platforms
MT4, MT5, TradingView, Prop Platform
Islamic Account
Demo Account
Funding Methods
Bank wire, credit cards, e-wallets, crypto
Tiers 1 Regulators
Tiers 2 Regulators
Negative Balance Protection

Products

Overall Score
4.0 /5
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Pros

  • Leverage up to 500:1
  • Copy Trading available
  • Crypto available

Cons

  • Mainly CFDs

Asset Selection and Leverage

EightCap provides a comprehensive selection of over 350 CFD products, covering forex, commodities, indices, shares, and cryptocurrencies. 
This diverse portfolio offers traders access to a wide array of global financial instruments, including major forex pairs, key commodities like gold and oil, popular indices such as the US30 and UK100, a broad selection of shares from top companies like Google and Facebook, and leading cryptocurrencies including Bitcoin, Ripple, Ethereum, and Litecoin.
Cryptocurrency trading is available to clients in Australia and globally but is not offered to those in the UK and Europe.

 
Availability
Forex
Crypto
Stocks
Equity Indices
Precious Metals
Other Commodities
Bonds
ETFs
Real Stocks
Real Bonds
Options
Thematic Indices
Synthetics


Eightcap offers maximum leverage of 500:1 for Forex traders through its Bahamas subsidiary, providing increased trading flexibility and potentially enhancing profitability for active traders. This subsidiary also allows portfolio hedging, an option not available through its Australian counterpart.

Key points about Eightcap’s leverage offerings:
The Australian subsidiary restricts leverage to 30:1 due to regulatory limitations.
Eightcap provides negative balance protection, ensuring traders cannot lose more than their deposits.
Leverage varies by sector and asset, with Forex typically offering the highest leverage, while equity CFDs and cryptocurrencies have lower limits.

Average Trading Spreads (for Standard Accounts)

EUR/USD
1.1 pips
GBP/USD
1.2 pips
USD/JPY
1.4 pips
Gold
$0.12
Bitcoin
$12
S&P 500 Index
0.6
WTI Crude Oil
$0.03

Platforms

Overall Score
3.9 /5
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Pros

  • MT4/MT5 available
  • TradingView platform
  • capitalise.ai available
  • Good Mobile Trading app

Cons

  • Poor Design on the Desktop Platform

Various trading platforms are available for users, accessible via web, desktop, and mobile devices. These platforms include:

Popular External Platforms

The MT4 platform is one of the most popular trading platforms amongst new and established traders.
It offers a comprehensive set of features designed to empower traders with the tools they need to succeed in the dynamic world of financial markets.
From advanced analytical tools to smart trader features and community support, it caters to the diverse needs of traders while providing a seamless trading experience.

 

Key Features:
  • Analytical Tools: The platform boasts a wide array of analytical instruments, including advanced charting capabilities and a diverse range of technical indicators. These tools empower traders to conduct thorough market analysis and make informed trading decisions.
  • Smart Trader Tools: Enhancing functionality, the platform provides smart trader tools such as Expert Advisors (EAs) and a variety of indicators, allowing for automated trading strategies and advanced charting features.
  • Order Types and Execution Options: Traders benefit from the flexibility of various pending order types and execution options, enabling precise control over trade entry and exit points.
  • Community and Customization: Access to a vibrant trading community and thousands of online plug-in tools enriches the trading experience. Additionally, traders have the ability to create custom Expert Advisors using the platform's programming language.

 

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MetaTrader 5 (also known as MT5), is a versatile trading platform, that caters to advanced trading needs, providing access to automated trading systems, technical tools, and copy trading.
Among its notable features are:

  • Diverse Asset Classes: MT5 offers access to a wider range of asset classes, including stocks and commodities, compared to MT4.
  • Advanced Timeframes: MT5 provides additional timeframes for charting, offering more flexibility in analyzing price movements.
  • Enhanced Depth of Market (DOM): MT5 improves the Depth of Market feature, providing a more comprehensive view of market liquidity.
  • Built-in Economic Calendar: MT5 includes a built-in economic calendar, allowing traders to stay updated on key economic events directly from the platform.
  • Advanced Technical Analysis: MT5 introduces more built-in technical indicators and graphical objects for in-depth market analysis.
  • Hedging and Netting: MT5 supports both hedging and netting accounts, offering more flexibility in position management.
  • Improved Strategy Tester: MT5's Strategy Tester offers faster and more efficient backtesting of trading strategies compared to MT4.

 

Key Features
Analytical Tools:

The platform boasts a wide array of analytical instruments, including advanced charting capabilities and a diverse range of technical indicators. These tools empower traders to conduct thorough market analysis and make informed trading decisions.

Smart Trader Tools:

Enhancing functionality, the platform provides smart trader tools such as Expert Advisors (EAs) and a variety of indicators, allowing for automated trading strategies and advanced charting features.

Order Types and Execution Options:

Traders benefit from the flexibility of various pending order types and execution options, enabling precise control over trade entry and exit points.

Community and Customization:

Access to a vibrant trading community and thousands of online plug-in tools enriches the trading experience. Additionally, traders have the ability to create custom Expert Advisors using the platform's programming language.

 

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TradingView is a leading platform renowned for its sophisticated charting tools, enabling users to visualize and analyze financial data with precision.
It combines a robust technical analysis suite with an active social network of over 30 million traders, fostering a community where insights and strategies are freely shared.

Ideal for traders of all skill levels, TradingView supports a variety of asset classes including stocks, cryptocurrencies, and Forex.
The platform's user-friendly interface and extensive customization options make it a top choice for real-time market analysis and trading.

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Accounts

Overall Score
3.0 /5
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Pros

  • Competitive Raw Account
  • Smooth and Fast Account Opening

Cons

  • No Islamic Account

Account Types

Eightcap offers a variety of trading accounts, each tailored to meet the diverse needs of different types of traders:

Standard Account
 The Standard Account offers the advantage of commission-free trading, with spreads as low as 1.0 pips. This account allows traders to start with a minimum deposit of $100 and trade in sizes as small as 0.01 lots (depending on the instrument). Additionally, it is compatible with Expert Advisors (EAs), making it a versatile choice for both manual and automated trading strategies. Start trading today and enjoy these benefits with the Standard Account.
Raw Account
 The Raw account is ideally suited for traders who primarily trade forex CFDs or for those with more trading experience. It offers exceptionally low spreads starting at 0.0 pips, making it an attractive choice for cost-conscious traders. With a minimum deposit requirement of $100 and the ability to trade in sizes as small as 0.01 lots (depending on the instrument), it provides great flexibility. Additionally, the Raw account is compatible with Expert Advisors (EAs), enhancing its appeal for automated trading strategies.
TradingView Account
 A TradingView account grants you membership in the world's largest trading network, offering access to an advanced charting package, the proprietary Pine Script language, daily trade ideas, webinars, custom indicators, and more. With a minimum deposit of $100, clients can start trading and benefit from ultra-low spreads, enhancing their trading experience with powerful tools and resources.
Demo Account
 The Eightcap demo account, valid for 30 days by default, allows you to explore the company's products without any financial risk, as it uses only virtual money. For those needing more time, extensions are available upon request through customer support. This makes the demo account perfect for beginners learning the ropes and experienced traders looking to create and test new trading strategies.

Account Opening Process

The user-friendly online application form streamlines the onboarding process for new traders, allowing account opening in just a few minutes and adhering to industry standards.
Mandatory account verification, required by regulators to comply with global AML/KYC rules, typically takes a few hours and usually completes within 24 hours.
Most traders can get verified by uploading a government-issued ID and a proof of residency document.
A responsive customer service team is available to assist traders, particularly those from countries with verification challenges or less-established systems for obtaining necessary documents.

 

Account Base Currencies

Eightcap offers a relatively diverse range of base currencies including USD, EUR, GBP, AUD, CAD, SGD, NZD.

Having the choice between multiple currencies is important for two main reasons:
1) If you deposit funds into your trading account using the same currency as your bank account, or if you trade assets denominated in your trading account's base currency, you can avoid paying any conversion fees.
2) To further reduce currency conversion costs, consider opening a multi-currency bank account with a digital bank.
These accounts typically support multiple currencies and offer favorable exchange rates, along with low-cost or free international bank transfers. Plus, you can open an account quickly and easily using just your phone.

Account Features

Minimum Deposit
$100
Inactivity Fee
Currency Conversion Fee
Broker commissions
Yes [for Raw Account]
Hidden Fees
Negative Balance Protection

Deposit and Withdrawal

Overall Score
4.5 /5
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Pros

  • Free deposits and withdrawals
  • Crypto wallet deposit available

Cons

  • No minor base currencies available

Eightcap offers a variety of deposit and withdrawal methods, including bank wires, credit/debit cards, BPAY, China UnionPay, Skrill, Neteller, cryptocurrencies, PayPal, Worldpay, FasaPay, PSP Virtual Account, and Pay Retailers.
Credit and debit card deposits accept approximately seven currencies, such as AUD, USD, GBP, EUR, NZD, CAD, and SGD.
Traders can also fund their accounts with Bitcoin and Tether, supporting around 13 deposit methods and 17 deposit currencies in total. Deposits are free and available 24/7, with bank wire transfers taking 1-5 business days.

Withdrawals are also efficient: select the payment option, choose the trading account, and confirm the details in the client area.
First-time customers might need to answer questions and provide documents for KYC and AML compliance, a standard practice among Forex/CFD brokers.
Eightcap processes withdrawals within 1-2 business days, and the time for funds to reach the client depends on the chosen payment method.

Payment Methods

Bank Transfer
Credit/Debit Cards
Electronic Wallets
Crypto Payments

e-wallets

Neteller
Skrill
Paypal
POLI
BPay
FasaPay
PayRetailers
Wise

Fees and Processing Time

Deposit Fee
Withdrawal Fee
Withdrawal Processing Time
Average

Trust

Overall Score
4.5 /5
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Pros

  • Top-tier regulations
  • Established since 2009

Cons

  • No Banking License

Trading with Eightcap is considered safe as it is regulated by reputable financial authorities such as ASIC and the FCA. The broker employs robust security measures to protect client funds and personal information.
Additionally, Eightcap ensures client funds are held in segregated accounts, separate from the company's operational funds.

Global Regulations
Registration Country
CySEC
Cyprus
ASIC
Australia
FCA
United Kingdom
SCB
Bahamas
FSA SVG
St. Vincent and the Grenadines

Customer Xperience

Overall Score
3.4 /5
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Pros

  • Great Research Tools
  • Free VPS Hosting

Cons

  • No Bonus available

Education and Research

Many brokers offer extensive educational and research resources. Eightcap features an educational page with high-quality content on topics like swing trading and technical analysis. Although this content is not structured as a course, beginners can benefit from it before exploring more comprehensive materials available for free online.

Additionally, Eightcap provides a market analysis page with daily trading insights. This page includes sections for Crypto News, CFD News, Forex News, and Market Updates, available in both video and text formats. The content is well-presented and useful, offering trading ideas for beginners and quality reads for experienced traders.

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Sweeteners

Bonus
Trading Competitions
Free VPS
EA

Customer Support

Eightcap provides customer support through multiple channels, including phone, email, and online chat.
Each of these options offers relatively fast response times, with minimal wait times for phone calls and prompt replies to emails within seconds.
The customer service representatives are knowledgeable and effectively address inquiries.

FAQs
Good
Support Methods
Web,
Live Chat,
Email,
Phone,
Support Hours
24/5
Multiple Languages
English,
Arabic,
French,
Portuguese,
Spanish,
Chinese