Find out everything about EightCap Forex Broker here.

Since most of the traders look for a detailed and informative review about the Forex companies before opening an account with them.

Here, we have come up with Eightcap Review to help you get a comprehensive idea about the brokers structure, features, types of accounts, pros, and cons, commission, leverage and so on.


About EightCap & Accepted Countries

Founder / CEOJoel Murphy
Established Year2009
Publicly TradedNo
Total Employees100-200
RegulationsASIC, VFSC
HeadquarterAustralia

Eightcap is an international CFD and Forex broker that offer over 250 financial instruments. It provides both prominent trading platforms to its traders including MT4 and MT5.

EightCap Forex BrokerIt is a safe broker that adhered to the regulations of the Australian Securities and Investment Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).

The company was founded in 2009 and since then it has grown rapidly all across the world.

It has its offices with a multilingual client support team based in Bulgaria, UK, China, Thailand, and many others.


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    EightCap Trading Platforms

    Trading PlatformMT4, MT5
    Desktop Platform – WindowsYes
    Desktop Platform – MacYes
    Desktop Browser PlatformYes
    Mobile Site PlatformYes
    Android App PlatformYes
    iOS App PlatformYes
    Windows App PlatformNo
    Other Mobile OS PlatformNo
    Real-time UpdatesYes
    Portfolio DetailsYes
    Research ReportsYes
    Global IndicesYes
    Personalized AdvisoryYes
    Interactive ChartsYes
    Live MarketsYes
    Multi-Account ManagementYes
    Trading Platform Supported LanguagesEnglish

    MetaTrader 4- It is one of the well-known trading platforms that facilitate the trading of major instruments with its automated trading tools, advanced interface, and broad charting wrap-up.

    MetaTrader 5 – MT5 is the updated version of MT4 and hence provides the most advanced features and automated tools.

    Major Features are one-click order, 44 graphical objects, 38 technical indicators, 21 timeframe, advanced market depth, Expert Advisors, Free of charge trading robot, and so on.

    The users can download MT4 on Windows, macOS, and Linux PCs.

    WebTrader – It also offers an MT5 web trader version that helps in opening web-accessible platforms on the broker’s website. It is more advanced, fast, and hassle-free.


    EightCap Mobile App

    Eights offers a mobile app with the latest and adaptable features and contemporary design and look. The Eightcap app is available for both the trading platforms MT4 and MT5.

    The users can access the mobile app on all devices including Android, iOS, and web browsers.

    You can download the app from the Google Play Store or Apple’s App Store and log in to the app with login credentials.

    Lightcap’s mobile app is user-friendly and easy to use and can be accessed from anywhere at any point in time.


    Check out Mobile Apps of more Forex Brokers


    EightCap Commission or Brokerage or Fees

    Commission on tradesYes
    Fixed spreadsYes

    Eightcap offers two types of trading accounts including raw accounts and Standard Account.

    For the Raw account, the spreads are variable and offer a tighter spread as low as 0.0 pips for major forex pairs.

    In case of Indices, the spread varies from 0.5 pips. For commodities like gold and oil, the spread starts at 0.1 pip and for silver, it is 0.5 pip.

    The spread charges keep changes depending upon the volatility of the instruments.

    For Standard accounts, Eightcap does not involve any commission charges.

    Conversely, for the Raw account, the commission charges at the rate of $ 3.50 per standard lot.

    For overnight forex trades, swap fees are also applied.


    EightCap Exposure or Leverage

    Maximum Leverage1;500

    Leverage is like a loan that a broker provides to its investors to trade in the foreign exchange market. Eightcap provides minimum leverage of 30:1 to all of its traders.

    The ratio of leverage varies depending upon the type of investor and the size of the trade.

    For professional traders, the maximum leverage Eightcap provides is 500:1.


    Payment Methods provided by EightCap

    DepositBpay, China UnionPay, Credit Card, Neteller, Poli, Skrill, Wire Transfer
    WithdrawBpay, Cash-U, China UnionPay, Credit Card, Neteller, Poli, Wire Transfer

    Eightcap provides a wide range of methods for making quick payments in 7 base currencies. All the payments are transacted through the client portal.

    Deposit Options- The deposit options Eightcap provides are- China UnionPay, Credit Card, Neteller, Poli, Bpay, Skrill, Wire Transfer.

    All the payment options involve no fee except for wire Transfer.

    The fee for bank wire varies from bank to bank. BPay, Skrill, and bank wire transfers take 1 to 2 business days for deposit and the rest of the options provide an instant deposit.

    Withdrawal Options- The withdrawal options Eightcap provides are- Bpay, Cash-U, China UnionPay, Credit Card, Neteller, Poli, Wire Transfer.


    Find out Payment Methods provided by other Forex Brokers


    Investment in Asset Classes or Markets by EightCap

    Currencies TradingYes
    Commodities TradingYes
    Indices TradingYes
    Stocks TradingYes
    Cryptocurrency TradingYes
    ETF’s TradingNo
    Bonds TradingNo
    FUTURES TradingNo
    OPTIONS TradingNo
    Supported Cryptocoinsbitcoin, bitcoin cash, ethereum, litecoin, ripple
    Total Tradable Assets250
    Number Of Currency Pairs45
    Number Of Cryptocurrencies5
    Number Of Stocks200
    Number Of Indices12
    Number Of Commodities4
    Number Of FuturesN/A
    Number Of OptionsN/A
    Number Of BondsN/A
    Number Of ETFsN/A
    • Eightcap provides investment in five major asset classes including Currencies, Commodities, Indices, Stocks, Cryptocurrency. It provides the traders 40 major, minor and exotic forex pairs.
    • Eightcap also provides the opportunity to its traders to trade with U.S and Australia’s top 250 renowned companies.
    • It offers five cryptocurrencies and the supported crypto coins are Bitcoin, Ethereum, Litecoin, and Ripple
    • Traders can trade on 10 major indices including US30, UK100, and SPX500
    • It provides top commodities such as gold, silver, and oil CFDs.

    Eightcaps also provides 200 major stocks for trading.


    EightCap Virtual Trading or Demo Account

    Virtual MoneyUSD 1000
    ChargesFree

    Eightcap offers a well-designed demo account along with its various trading accounts.

    The purpose of providing a demo account is to help beginners learn the basics of trading and understand how to operate trading accounts.

    The broker provides unlimited virtual money to the demo account holders to implement their trading practices in the real market environment without putting their real money in danger.

    Eightcap provides a demo account for a period of 30 days. However, the trader can extend the duration with a request application.


    EightCap Offers or Deals

    Free Learning CoursesYes
    Free Demo AccountYes
    Discount on BrokerageNo
    Flexible Brokerage PlansNo
    Referral OffersYes
    Forex Trading ContestYes
    Trading Bonuses & RewardsYes

    Though Eightcap does not offer flexible brokerage plans or discounts on brokerage, it offers its clients Free Learning Courses, Free Demo Account, Referral Offers, Forex Trading contests, and Trading Bonuses & Rewards.


    EightCap Regulation or Licensing

    RegulationsASIC, VFSC

    Eightcap is an online Forex broker that has spread its wings globally. It has its headquarter in Melbourne, Australia, and was founded in the year 2009.

    Eightcap is a trustworthy company regulated by the Australian Securities and Investment Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC) and is adhered to the strict regulations of these authorities and ensures utmost safety and security of the traders.


    Find out Regulations & Licensing of more Forex Brokers


    EightCap Features

    Educational ServicesYes
    Social Trading / Copy TradingYes
    Trading SignalsNo
    Email AlertsYes
    Guaranteed Stop LossYes
    Guaranteed Limit OrdersYes
    Guaranteed Fills / LiquidityYes
    OCO OrdersYes
    Trailing SP/TPYes
    Automated TradingYes
    API TradingYes
    VPS ServicesNo
    Trading From ChartYes
    Interest On MarginNo
    Offers HedgingYes
    Offers PromotionsYes
    One-Click TradingYes
    Expert AdvisorsYes
    Other Trading FeaturesNo

    Eightcap, being an advanced platform for trading, provides trading features in abundance.

    With MT4 and MT5 platforms, it offers various automated tools including- Trading from the chart, Social Trading / Copy Trading, Email Alerts, Guaranteed Stop Loss, Guaranteed Limit Orders, Guaranteed Fills / Liquidity, OCO Orders, Trailing SP/TP, Automated Trading, API Trading, Offers Hedging, Offers Promotions, One-Click-Trading, and Expert Advisors.

    It also provides exceptional Educational Services for both new traders and experts including various learning courses, latest and trending blogs from market professionals, economic calendars, and market news.

    Eightcap offers trading strategy guidance, CFD and Forex insights, regular market updates, a trading week ahead, and MetaTrader guides.

    It has launched an excellent automated tool that is capitalice.ai that helps the users in accessing automation and analytic tools such as smart notifications, loop strategies, backtesting, etc.


    EightCap Account Types

    Take a look at the types of accounts that the company is offering:

    Account TypeStandardRaw
    Initial Deposit$100$100
    SpreadSpreads From 1.0 PIPSFixed
    CommissionNoYes
    Leverage1;5001;500

    Eightcap offers two different types of trading accounts as raw account and Standard account.

    Standard Account

    Eightcap’s standard account is meant mainly for new traders. The initial deposit amount is $ 100 with a minimum trade size of 0.01.

    The leverage is 30:1 for the local Australian residents whereas it can raise to 500:1 for Non-Australian residents.

    Raw Account

    Eightcap’s raw account is exclusively designed for seasoned traders with ample trading experience.

    It also has the same initial deposit of $ 100 with a minimum trade size of 0.01 as a Standard account. The leverage is also kept the same as the standard account.

    The two main differences between both the accounts are-

    • The raw account comes with $ 3.50 commission charges per lot whereas the standard account offers zero commission.
    • The raw account offers 4 base currencies whereas the standard account offers 5 base currencies.

    EightCap Trading Account Features

    Check below all the trading account features under various account types:

    Trading Desk TypeECN, No dealing desk, STP
    Min Deposit$100
    Maximum Leverage1;500
    Mini AccountYes
    Premium AccountNo
    DEMO ACCOUNTYes
    Islamic AccountNo
    Segregated AccountNo
    Managed AccountYes
    Institutional AccountNo
    Suitable for beginnersYes
    Suitable for professionalsYes
    Suitable for scalpingYes
    Suitable for daily tradingYes
    Suitable for Weekly tradingYes
    Suitable for swing tradingYes

    EightCap – Research & Advisory

    Find below all the different reports and support provided by its Research & Advisory team:

    Fundamental ReportsNo
    Research ReportsNo
    Company ReportsNo
    Daily Market CommentaryYes
    News (Top-Tier Sources)No
    Delko’s ResearchNo
    Top PicksYes
    AutochartistNo
    Acuity TradingNo
    Company Stock ReviewNo
    Free Stock TipsNo
    WebinarsNo
    Video EducationYes
    Economic CalendarYes
    Offline AdvisoryNo
    Relationship ManagerNo

     


    EightCap Benefits

    Eightcap has become a well-known trading platform because of its various offerings that help the traders gain maximum profit and pays competitive brokerage.

    Some of the significant benefits of Eightcap are-

    • It is ASIC and VFSC regulated
    • Provides Capitalise.AI automated trading solution
    • Provides maximum leverage of 500:1
    • Spread as tight as 0.1 pips
    • Minimum trade 0.01 lots
    • Provides both globally acknowledged platforms- MT4 and MT5
    • Received Good customer reviews
    • Offers 24×5 customer support
    • Free withdrawals

    EightCap Cons or Drawbacks

    Though Eightcap provides many features and advantages, it does have some drawbacks where it can work upon. Some of the major disadvantages of trading with Eightcap are-

    • It offers a demo account for a period of 30 months. (However, it can be extended on request)
    • It does not provide bonuses or promotions to its traders
    • There is no binary option available on the Eightcap trading platform.

    EightCap Trading Hours

    Eightcap trading hours depend on the market hours. For Forex trading, the investors can trade throughout the day for an entire week.

    Nevertheless, for international foreign exchange trading, the trading hour depends on the time zone of the particular country.

    In Sydney, the trading hours are from 07:00 AM TO 04:00 PM, In Tokyo, the timings are from 09:00 AM to 06:PM, in New York, the timings are from 10:00 PM to 07:00 AM and in London, it opens at 05:00 PM and closes at 02:00 AM.


    EightCap Customer Care or Contact Details

    Dedicated DealerYes
    Support During WeekendsYes
    Online TradingYes
    24*7 SupportYes
    Email SupportYes
    Live Chat SupportYes
    Customer Support LanguagesEnglish

    Eightcap is known for its experienced team handling customer helpdesk 24x 5.

    You can contact Eightcap’s customer support in different languages on five working days via phone number +61 3 8373 4800. You can also email them for your queries at customerservice@eightcap.com

    The broker also provides the facility of live chat on its website to resolve your queries and provide you complete assistance.

    Eightcap is also available on various social media platforms including Facebook, Instagram, Linked In, and youtube.

    Eightcap’s headquarters office address is Level 6, 360 Collins Street, Melbourne, VIC 3000 Australia.


    EightCap Safety & Security

    Eightcap is an online forex trading company regulated by ASIC and VFSC and hence adheres to strict safeguarding measures and cybersecurity of its traders.

    It provides complete encryption for data exchanges between the platform and the client-server.

    Forex broker is also using 128 bit SSL (Secure Socket Layer) encryption to ensure privacy and validation of the users.

    Eightcap is also adhered to the regulations of the Privacy Act, 1988, the Australian Privacy Principles (APPs), and GDPR (General Data Protection Regulation) to ascertain complete client data protection.


    EightCap Rating & Reviews

    Based on different users and their experiences below are the company rating and reviews:

    User Experience7.5 / 10
    Products & Services7.8 / 10
    Brokerage Charges & Fees8.1 / 10
    Research & Advisory7.2 / 10
    Trading Platforms7.1 / 10
    Overall Ratings7.6/ 10
    Star Ratings★★★☆☆
    Total Client Reviews98

    EightCap Forex Trading – Conclusion or Verdict

    Eightcap is a well-experienced trading platform offering its services in the industry for over a decade.

    It offers both the award-winning trading platforms MT4 and MT5 along with the most advanced features and automated trading tools in its trading accounts.

    Eightcap is one of the top-rated trading companies with star ratings of 3 and 98 customer reviews. It is also known for its tight spreads and competitive brokerage fees.


    Eightcap Forex Trading FAQs

    Here is the list of FAQs related to the Eightcap Forex trading review:

    Is Eightcap Safe for Trading?

    Yes, Eightcap is an ASIC and VFSC regulated company and follows strict cybersecurity and regulations to protect the traders.

    What is the Commission for Eightcap?

    For Standard accounts, Eightcap does not involve any commission charges.

    But, for the Raw account, the commission is charged at the rate of $ 3.50 per standard lot. For overnight forex trades, swap fees are also applied.

    How to Open a Trading Account with Eightcap?

    Visit the webpage and click on the option “create account” highlighted at the top right-hand side.

    Then, follow a few simple steps including registration form, EKYC, and funding and you will get your account opened within a short span of time.

    Can I invest in Cryptocurrency with Eightcap?

    Yes, traders can invest in Cryptocurrency with Eightcap.

    The supported cryptocurrencies are bitcoin, bitcoin cash, ethereum, litecoin, ripple.

    What leverage does Eightcap provide?

    Eightcap provides minimum leverage of 30:1 to all of its traders.

    Eightcap provides the maximum leverage of up to 500:1 to professional traders.

    Does Eightcap have a trading app?

    Yes, Eightcap provides a trading app accessible on both MT4 and MT5 platforms.

    It is a user-friendly app that can be downloaded on both Android and iOS devices.

    How to contact Eightcap customer care?

    You can contact Eightcap’s customer support in different languages on five working days via phone number +61 3 8373 4800. You can also email them for your queries at customerservice@eightcap.com

    Is Eightcap Regulated?

    Eightcap is an online forex trading company regulated by ASIC and VFSC.

    The broker is also adhered to the regulations of the Privacy Act, 1988, the Australian Privacy Principles (APPs), and GDPR (General Data Protection Regulation) to ascertain complete client data protection.

    Is Eightcap good for Beginners?

    Yes, Eightcap is good for beginners as it provides a Standard account mainly for beginners with Zero commission charges.

    Who founded Eightcap?

    Eightcap was founded in 2009 by Joel Murphy. It is an Australia-based online brokerage company regulated by ASIC and VFSC with clientele all over the world.


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