Eightcap Review 2024: Is It a Legit Forex Broker?

Eightcap is an award-winning derivatives broker that was founded in Melbourne, Australia. The Eightcap Group is regulated by the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Securities Commission of The Bahamas (SCB). The broker is regulated in multiple jurisdictions.

Eightcap Overview

Official Website https://www.eightcap.com/
Headquarters Melbourne, Australia
Founded Year 2009
Regulated The Australian Securities and Investments Commission, The Financial Conduct Authority, The Cyprus Securities and Exchange Commission, and The Securities Commission of The Bahamas
Product Offered Forex, Commodities, Indices, Shares, Cryptocurrencies CFDs
Minimum Initial Deposit $100
Maximum Leverage 30:1 In Australia and 500:1 in The Bahamas
Islamic Accounts Swap-free Accounts Available Upon Request
Demo Account 30 Days Demo Account
MetaTrader 4 (MT4) Supported
MetaTrader 5 (MT5) Supported
TradingView Supported
Trading fees Low Trading Fees on ‘Raw Accounts’
Inactivity fee None
Withdrawal fee $0
Supported currencies AUD, EUR, USD, NZD, GBP, SGD, CAD
Customer Support Live Chat, Email, Phone, FAQs, and Social Channel Support

This Eightcap review will consist of detailed information about the broker, including the pros and cons of trading with Eightcap. If you are looking for a broker that is regulated, offers a wide range of financial assets, unique tools and insights, and has low spreads, then Eightcap is a good choice. The broker has been operating and offering its services since 2009. They have recently won awards at the 2022 Global Forex Awards for Best Global Forex Educational Resources & also for having the Best Forex Trading Support in Europe.

What Is Eightcap?

Traders have multiple options when it comes to choosing a trading platform through Eightcap; they can decide between the Metatrader platforms or TradingView. With TradingView, Eightcap clients can trade directly off the platform’s charts, join a community with over a million traders, set up trading alerts so that they never miss key price movements, and use Pine Script programming language to automate and test their trading strategy.

Eightcap Broker User Interface Eightcap also offers the industry leading MetaTrader 4 and MetaTrader 5 platforms. Client’s can trade Eightcap’s full suite of financial instruments including Forex, Indices, Shares, Commodities and Cryptocurrency derivatives. With the MetaTrader platforms, clients can access numerous features such as the ability to trade with bots, identify trends with 30+ built-in indicators and a range of timeframes, plus more.

Why Trade with Eightcap? 

Eightcap is an award-winning derivatives broker and there are many different benefits when choosing them to meet your trading needs. The broker offers tailored customer support to all its clients on a 24/5 basis. Once you have opened an account with Eightcap, you are assigned an account manager, who will be there with you at every stage of your trading journey.

That’s not all, if you need further support, or you have a query that needs to be answered, then all you need to do is contact Eightcap via email, phone or live chat and one of their support agents will be able to help you. Support is available in multiple languages including English, Chinese, Thai, Korean, French, Spanish, Italian, German, Vietnamese, Portuguese, and Bahasa.

Why Trade with Eightcap?

Global Market Opportunities

With Eightcap, you can trade 800+ financial instruments. Financial instruments offered include Forex, Indices, Shares, Commodities, and Cryptocurrency derivatives. More notably, the broker rolled out over 100 cryptocurrency derivatives last year which included altcoins, crypto indices, and crypto crosses. This offering paired with the broker’s tight spreads is the main reason why traders prefer to use Eightcap when trading cryptocurrency derivatives.

For forex traders, the broker offers over 45 currency pairs to open positions on, including major, minor, and exotic pairs. Eightcap also offers stock derivatives of some of the largest US, European and Australian companies including Apple, Netflix, Commonwealth Bank, and more. If you are looking to add major commodities to your trading portfolio then Eightcap offers Gold, Oil, and Silver CFDs. Lastly, you can also trade the world’s largest stock indices such as the US30, AUS200, and the SPX500, with Eightcap.

TradingView Integration

TradingView is the world’s leading charting platform and social network that is used by over 30 million traders. Eightcap has recently integrated with TradingView, and with this integration, Eightcap’s clients can have access to TradingView’s many features. For example, traders will be able to identify and analyze trading patterns by using the platform’s customisable charts. Another feature is that Eightcap client’s will be able to discover a multitude of trade ideas by joining TradingView’s community of traders. To find out more about Eightcap’s integration with TradingView see here.

Unbeatable Pricing

Eightcap l has been one of the best in the industry since it was first established. Eightcap’s pricing is aggregated from multiple top-tier liquidity providers. The broker has made bold claims about its spreads, and zero commission trading account. After looking at the pricing ourselves, we can say that Eightcap client’s are getting the best value compared to other most popular forex brokers in the market.

Premium Liquidity by Eightcap

Eightcap has the best spreads for cryptocurrency, Bitcoin especially is exceptionally cheap to trade with the broker. For a crypto to open a position on a BTC contract with Eightcap, they are looking at a charge that sits between $8-$12 depending on market conditions. Comparing this to other CFD providers, Eightcap is on average cheaper than mainstream top crypto exchanges. The broker also offers a spread of $1.65 for a client to trade an ETH contract with their raw account. Additionally, the broker offers a zero commission trading account which is perfect for traders not wanting to pay a fee.

Seamless and Fast Deposits and Withdrawals 

Eightcap’s deposit and withdrawal methods are fast, secure and easy. They offer a vast range of payment methods for deposits and withdrawals. This includes PayPal, BTC, Tether, Credit/Debit card, POLi Payment, Bank Wire, BPAY, China UnionPay, Skrill, Neteller, Worldpay, Fasapay, PayRetailers and PSP.

Multi-Jurisdiction Regulation 

Eightcap is regulated in multiple jurisdictions. The Eightcap Group is regulated by the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Securities Commission of The Bahamas (SCB). All client funds are segregated from Eightcap’s own funds and held at Tier 1 banks.

Why Traders Choose Eightcap?

Is Eightcap Regulated?

Yes, Eightcap is regulated. The broker ensures that it remains compliant with all of the products and services that they offer to retail traders. For traders this Australia based forex broker is regulated by ASIC – a tier 1 regulatory body. The broker accepts traders from a majority of countries.

Eightcap Review: Pros and Cons

Every broker has some pros and cons so here are Eightcap’s pros and cons.

Pros Cons
Over 800 financial instruments to choose from. Customer support is not available 24/7.
Cutting-edge tools like TradingView and Capitalise.ai.
Varied range of educational resources.
They are regulated by ASIC, FCA, CySEC and the SCB.
They offer negative balance protection.

Market Instruments Offered by Eightcap

Eightcap offers a wide range of financial instruments. The instruments range across Forex, Indices, Shares, Commodities and Cryptocurrency CFDs. Here is a brief overview of the financial instruments Eightcap offers.


Forex is one of the most traded assets in the world and has an average daily trading volume of $5 trillion. Traders look for market opportunities by trading forex CFDs, they speculate on both rising and falling prices of major and minor currency pairs. With Eightcap you have access to over 45 currency pairs including major, minor and exotic pairs. Eightcap’s spreads on forex are ultra low, with the raw account you can trade forex with spreads starting from 0.0pips. However, it is important to note that there is commission charged at $3.5 per standard lot traded, when opening a raw account.

Benefits of Forex Trading at Eightcap


Eightcap offers Gold, Oil and Silver CFDs. Most traders add Gold to their trading portfolio. Most traders tend to opt for Gold as a safe haven, as a hedge during times of market turbulence. Eightcap offers ultra low spreads on commodity CFDs, traders can open positions on oil with the standard account from 0.03 USD, the average spread for Oil is around 0.05 USD. With the raw account, you can open a position on Oil with spreads from 0.03 USD, and Gold from 0.1 USD depending on market conditions. With the raw accounts, clients have access to ultra-low spreads, however, there is commission charged at $3.5 per standard lot traded.

Eightcap Commodity Trading


Since CFDs are complex products you will need a reputable CFD broker and we believe that Eightcap is the right derivatives provider to meet your trading needs. If you enjoy watching movements of top indexes such as the S&P 500 or the Dow Jones Index, then trading index CFDs may be for you. Eightcap offers 10 of the largest indices, again with low spreads to match. For example, if you were interested in trading the AUS200 (the index that tracks the most liquid and valuable stocks in Australia), then you can start with spreads from 0.0 AUD, with the raw account.

Eightcap Indices Trading


Trade share CFDs of the largest companies in the world. You can trade over 600 stock CFDs with Eightcap, with a TradingView or MT5 account. Clients can trade CFDs of some of the largest US, European and Australian companies including, Netflix, Apple, Commonwealth Bank, Facebook, Volkswagen and more.


Eightcap is not only a forex broker but also a crypto broker. If you plan to trade in cryptocurrency, this is your ideal space. Eightcap is renowned for its cryptocurrency derivatives offering. The broker has rolled out over 100 crypto derivatives including altcoins, crypto-crosses and crypto indices. This makes it one of the most extensive cryptocurrency derivatives offerings within the marketplace currently. Pricing when trading cryptocurrencies with this broker is second to none. For example, if you are looking to trade Bitcoin, then a Bitcoin contract with Eightcap ranges between $12-$15, depending on market conditions.

Trade Crypto Derivatives with Eightcap

Eightcap Trading Platforms and Tools

Eightcap offers multiple trading platforms and interesting tools to enhance your trading experience. Here is more information about the platform and tools that are available once you open a trading account at Eightcap.


TradingView is one of the most popular trading and charting platforms, with over 30 million traders. Eightcap has recently integrated with TradingView and with this integration, Eightcap’s clients can have access to TradingView’s many features. For example, traders will be able to identify and analyze trading patterns by using the platform’s customisable charts. Another feature is that Eightcap client’s will be able to discover a multitude of trade ideas by joining TradingView’s community of traders.

Eightcap TradingView

MetaTrader 4

You can trade forex, shares, commodities, and indices with Eightcap via the MT4 platform. MT4 is an industry-leading platform and is known for its robot trading capabilities, making it accessible for both new and experienced traders as they can download a free-of-charge trading robot. With the MT4 platform you can be as flexible as you want when it comes to opening and closing your trade. You can trade using the 1-click trading functionality direct from the charts, or you can have the choice from a number of orders including market, pending, stop and trailing orders. You will also have access to a range of charting tools such as 9-timeframes, 30 built-in indicators and 24 graphic objects.

MetaTrader 5

If you are looking for an advanced trading platform, then MT5 will be your best choice. Trade forex, indices, commodities, shares and cryptocurrency CFDs with Eightcap, via the MT5 platform. With the MT5 platform you will be exposed to advanced trading features which are also accessible via the WebTrader feature along with the mobile and desktop version (that are available with the MT4).

Eightcap MetaTrader 5 Platform


Along with a number of market-leading trading platforms, Eightcap offers unique trading tools for all levels of traders. These tools will take your trading strategy to the next level. Below are some of the tools available when opening a trading account with Eightcap.


This is a pretty useful tool for traders. Capitalise.ai allows you to automate your trades without the need to code. Eightcap’s partnership with Capitalise.ai, means that Eightcap clients can receive access to this cutting-edge tool for free with their Eightcap trading account. Capitalise.ai will scan the markets and execute trades based on data, tech indicators and macro economics in real time on a 24/7 basis.

You can also backtest your trading strategy by using historical data. All you will need to do is use plain English language to give instructions on how you want Capitalise.ai to handle your trades. For example, ‘Close position at profit of 4%, or at trailing stop of 3%’. Please see some examples below.


If you want to crush the crypto trading market or experience great crypto trades then this tool is for you. Cryptocrusher will help you find new crypto trading ideas, scan and analyze crypto markets (by trend, price, % change, major highs and lows), determine the strength of market direction by identifying market sentiment, being able to spot new trades with exclusive indicators and also access to live educational resources and a 24-hour trade room to chat through your crypto trade ideas. This is available if you have a live Eightcap trading account, if you maintain an account balance of over $500 and have placed at least one trade in the last month.

Forex VPS

Forex VPS can give you a lot of benefits, but to get that, you need to fulfil some requirements. You need to have a live Eightcap account and maintain a record of 5 lot trades every month. You can then enjoy the benefits from using Forex VPS if you meet the criteria. THaving the VPS, it means that you will be able to trade from any device and any location.

Eightcap Forex VPS

Eightcap Account Opening Process

The Eightcap account opening process is pretty simple. The process usually takes under three minutes, and the account gets approved within 24 hours once ID documents have been provided. You need to follow the steps mentioned below and your live account will be ready quickly.

Step 1: Click on the create account tab at the top right corner of the site. You need to fill out a simple application form that includes your email, name, country of residence, contact number and you will also need to create your password.

Step 2: In line with Eightcap’s KYC policy, you will be required to submit identification documents before your account can be approved.

Step 3: Once all the details are submitted, you must wait for your account to be verified.

Step 4: Once the account has been approved, you will receive your trading platform login details. You can then deposit funds into your account to begin trading.

Eightcap Account Opening Process

Types of Eightcap Accounts

There are primarily two account types at Eightcap. The broker also offers a demo account, for traders to practise opening positions on the financial markets using virtual funds. Here are the main differences between the live trading accounts offered.

Eightcap Demo Account

A demo account is also known as a risk-free account as it allows you to trade with simulated funds. This gives you time to practise opening and closing trades, while familiarizing yourself with creating an effective trading strategy. You will also be able to experience market volatility first hand as you are exposed to live trading conditions. The Eightcap demo account lasts for 30 days before it expires. A demo account is a great tool for beginner traders who want to gain more experience trading on the financial markets.

Raw Account 

The Raw account offers traders spreads from 0.0 pips, and charges a commission of $3.5 per standard lot traded. The minimum deposit required to open a Raw account is $100.

Standard Account

The standard also offers low spreads (not as low as the Raw account), traders can start trading assets with spreads from 0.5 pips. There is no commission charged on the raw account. The minimum deposit required for a standard account is the same as a raw account which is $100.

Types of Eightcap Accounts

Eightcap Fees

In the case of Eightcap, there are no deposit or withdrawal fees.However, there may be some charges applied if you were to use Bank Wire Transfer as your preferred methods for withdrawals and deposits. These charges are external to Eightcap and dependent on your bank. Swap rates refers to the interest rates charged for overnight open positions – in reference to Forex Trading. Eightcap is not involved in the physical delivery of trades, thus all positions left open at the end of the trading day will be rolled over to a new value date and will therefore have exposure to a swap charge or credit.

Deposit & Withdrawal Methods Supported by Eightcap

Name Available Currency Processing time Transaction fees Deposit Limit Supported Countries
VISA/Mastercard AUD, USD, GBP, EUR, NZD, CAD, SGD Instant Deposit 24/7 $0 100- 4000 150+
Poli Payment AUD Instant Deposit 24/7 $0 100- 10000 Australia
Bank Wire AUD, USD, GBP, EUR, NZD, CAD, SGD 1-3 Business days Check with your bank for bank transfer NA ALL
B Pay AUD 1-2 Business Days $0 100- 10000 Australia
China Union Pay RMB Instant Deposit 24/7 $0 100- 3000 China
Skrill USD, EUR, CAD Instant Deposit 24/7 $0 100- 10000 All
Neteller USD, EUR, CAD Instant Deposit 24/7 $0 100- 10000 All
Cryptocurrency USDT(TRC20), USDT(ERC20), BTC Instant Deposit 24/7 $0 NA All Except Australia
PayPal AUD, USD, GBP, EUR, NZD, CAD, SGD Instant Deposit 24/7 $0 100- 4000 150+
WorldPay AUD, USD, GBP, EUR, NZD, CAD, SGD Instant Deposit 24/7 $0 100- 50000 All except Japan
FasaPay USD Instant Deposit 24/7 $0 100- 10000 Indonesia
PSP (Virtual Account) THB, VND, MYR, IDR, PHP Instant Deposit 24/7 $0 100- 3000 Thailand, Vietnam, Malaysia, Indonesia, Philippines
Pay Retailers BRL, USD 1-2 Business Days $0 50- 4000 LATAM

The chart above shows the different deposit methods available to you when you fund your Eightcap trading account. The same methods are also available for withdrawing your money. Deposits and withdrawals at Eightcap are seamless and quick.

Educational Resources Offered by Eightcap

Eightcap offers a number of resources to increase your knowledge about trading. They are categorized into three areas which are mentioned below.


Eightcap provides regular market updates, delivered straight to your inbox or found on their website, under the ‘analysis’ tab. Market updates are delivered as articles and also Youtube videos, where their in-house analyst goes through key price movements of the day and carefully uses technical analysis to show trends and reveals possible trade ideas.

Trading Education 

Trading is not something you learn overnight. Eightcap offers a wealth of educational resources that you can access for free with your Eightcap trading account. Eightcap offers educational articles, which cover the basics of how to use the different trading platforms, how to create a trading strategy, guides on risk management and trading psychology, and more.

Eightcap has also started TradeZone, an initiative involving numerous trading professionals who provide key market insights via regular market updates and weekly webinars. The broker is also launching a new education portal later this year. Eightcap Labs is an educational portal that has different levels in relation to how much experience you have as a trader. With Eightcap Labs, traders will gain access to events, promotions, eBooks, webinars and much more resources.

Trading Education by Eightcap

Financial Events 

When dealing with the global financial markets , it is important to know about the key financial events that in turn affect the markets. Traders will try and analyze and interpret the possible outcomes of an event, such as the European Central Bank meeting where monetary policy is determined. Eightcap offers its traders with key insights; their in-house market analyst will inform traders of upcoming financial events and outline possible market sentiment. After the event has taken place their analyst covers market reaction and key price levels that traders need to be aware of before opening a position on the markets.

Eightcap Supported & Restricted Countries 

Some jurisdictions are restricted from trading with Eightcap. The restricted countries are Afghanistan, Albania, American Samoa, Bahamas, Belarus, Burundi, Central African Republic, Congo, Cyprus, Eritrea, Guam, Guinea-Bissau, Haiti, Iran, Iraq, Japan, North Korea, Kosovo, Lebanon, Libya, Mali, Myanmar, Nicaragua, Northern Mariana Islands, Pakistan, Palestine, Puerto Rico, Saint Helena, Ascension and Tristan da Cunha, Somalia, South Sudan, Sudan, Syria, Tristan Da Cunha, Ukraine, United States, United States Minor Outlying Islands, Vanuatu, Venezuela, Virgin Islands (U.S.), Western Sahara, Yemen and Zimbabwe. However, this broker is available to 150+ countries.

Eightcap Customer Support

Eightcap customer support is available 24/5. You can reach them over live chat, email, or call them directly. Support is available in a number of languages, so you can feel comfortable speaking with someone who can help you with whatever query you may have. Languages that are supported are EnglishChinese, Thai, French, Spanish, Italian, German, Vietnamese, Portuguese, Japanese, and Bahasa. This huge team of customer service representatives will ensure that you receive the best possible trading experience.

Eightcap Live Chat Support

Eightcap Review: Our Verdict

Eightcap is a platform that offers trading at a low cost. This Eightcap review has listed all the positives of this broker. We could not find any negative sides of this broker. The site is ideal for all traders and we recommend this broker for crypto derivatives and all other markets such as Forex, Shares, Indices and Commodities derivatives. It is regulated in multiple jurisdictions, which makes it even safer.


Is Eightcap Safe?

Yes, Eightcap is regulated in multiple jurisdictions by top tier regulatory bodies. Client funds are segregated in separate tier-1 bank accounts.

Is EightCap Regulated?

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

Does Eightcap Allow Scalping and Hedging?

Yes, Eightcap does allow both scalping and hedging. Hedging is not permitted for Australian retail clients.

What Is the Minimum Deposit for Eighcap?

The minimum deposit for Eightcap is $100.

What Leverage Range Does Eightcap Offer?

There are different leverage options depending on where you are located. For Australian clients the maximum amount of leverage available is 30:1.

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