Broker Eightcap: Complete Review
In this review, we analyze and evaluate Eightcap, an online broker founded in Australia in 2009 that now operates globally (including Europe and Latin America) with numerous offices around the world.
Eightcap is a CFD broker that allows trading in currencies, indices, commodities, stocks, and cryptocurrencies.
This broker is enjoying considerable success, as it is able to offer European clients, depending on the jurisdiction, leverage of up to 500x.
Throughout this review, you will find all the relevant information about Eightcap regarding security, costs, trading conditions, and the products and markets on offer. In the final section, you will find our opinions on Eightcap and our final verdict on the Australian broker.
| Eightcap
| – ECN/STP broker from Australia specialized in Forex and CFD -It is a fully regulated broker -Variable and tight spreads |
Pros:
- Competitive spreads from 0.1 pips and advantageous fixed commissions
- Demo account with virtual money to test platforms
- Minimum deposit of €100
- Fast deposits and withdrawals with no fees
Cons:
- Only CFDs are traded
- Lack of educational material on the website
Eightcap Market Types — Products and Exchanges
What assets and financial markets can you trade with Eightcap? Eightcap allows you to trade — via CFDs — in 5 asset classes, namely:
- Forex: 40 major, minor, and exotic currency pairs available
- Commodities: CFDs on gold, silver, and oil
- Indices: 7 global indices available, including the Euro Stoxx, DAX, and Dow Jones
- Stocks: the leading securities from US, UK, German, and Australian stock exchanges are available. Stock CFDs are traded exclusively on MT5.
- Cryptocurrencies: CFDs available on MT5 for 4 cryptocurrencies including Bitcoin, Litecoin, Ripple, and Ethereum
With Eightcap it is possible to access the main assets for trading, although the range of tradable products is not among the widest (in total, around 800 financial instruments can be traded).
That said, we understand that the broker continues to expand its offering to clients.
Financial Leverage
One of the factors that makes Eightcap one of traders’ favorite brokers is the leverage offering of up to 1:500.
Specifically, these are the maximum leverage levels permitted for each asset class:
- Forex: leverage up to 1:500
- Commodities: leverage up to 1:500
- Indices: leverage up to 1:200
- Stocks: leverage up to 1:5
- Cryptocurrencies: leverage up to 1:20
We emphasize the importance of using such high leverage only if you have a sufficient level of experience. Leverage not only amplifies potential profits, but also losses.
It is crucial to use leverage with caution and to employ appropriate risk management strategies to protect your capital.
Eightcap Account Types
Eightcap offers its clients two types of accounts: the Raw Account and the Standard Account. Let’s look at the main differences between the two accounts.
Raw Account
The Raw Account is an account with spreads starting from 0.0 pips and a fixed commission per trade of $3.50. Due to the fixed commission structure, the Raw Account may be preferable for active traders, as it allows them to benefit from tighter spreads while offsetting commission costs.
Standard Account
The Standard Account is an account with no trading commissions, but with spreads starting from 1.0 pip. Unlike the Raw Account, the Standard Account is better suited for trading with smaller amounts, since there are no commissions to pay — only spreads.
The only substantial difference between the two account types lies in the commission structure outlined above. All other conditions for the Raw Account and the Standard Account are identical: from the minimum deposit to the available leverage and the required margin levels.
Account opening
Registering a new account with Eightcap takes approximately 10 minutes. The entire procedure is carried out online through the broker’s website. After filling out the online form, you will be asked to provide documents to verify your identity.
Once the application has been approved (usually within 12 to 24 hours), you will receive the credentials to access your trading account.
Eightcap trading platforms
Eightcap offers its clients the following types of trading platforms, all of which are designed to provide the best trading conditions.
MetaTrader 4
MT4 is arguably the most widely used trading platform in the world, particularly for CFD trading. Its popularity stems from its intuitiveness and ease of use. With MT4, you can trade currencies, commodities, and indices.
MetaTrader 5
MetaTrader 5 is the evolution of MT4, with more tools for traders seeking flexibility and depth in their analysis.
My experience with MT5 has been particularly useful for trading across multiple markets, as it offers advanced charting and more detailed analysis. If you prefer a powerful and flexible trading system, MT5 is the ideal platform.
What you get with MT5 integration on Eightcap:
- Advanced charting package: Up to 100 simultaneous charts with 21 timeframes.
- Over 80 technical indicators for detailed market analysis.
- Access to 600+ macroeconomic indicators from the 15 largest economies in the world.
- Automation with the MQL5 Wizard, to create custom Expert Advisors.
- Advanced market depth features and separate order and trade management.
TradingView
TradingView stands out as a versatile platform for traders in Latin America, combining advanced charting with social trading features. In my experience, it is an excellent option for those looking for customizable tools and community-based analysis.
Whether you are a technical trader or a beginner, the TradingView integration with Eightcap offers a seamless experience for market analysis and trade execution.
Why try TradingView?
- Over 15 chart types, including Kagi, Renko, and Point & Figure. Supports up to 8 charts per tab and more than 90 smart drawing tools.
- A library of over 100,000 custom indicators created by the community, or the option to develop your own strategies with Pine Script.
- The largest social trading community, ideal for learning new strategies, sharing analysis, and gaining insights from other CFD traders.
- Over 10 types of real-time alerts, based on price levels, indicators, and custom metrics, so you never miss a market entry opportunity.
If you are looking for a platform that goes beyond traditional charting tools, TradingView is a must-try option. Its integration with Eightcap gives you the best of both worlds: advanced analysis and efficient execution across more than 800 financial instruments.
Trading Commissions and Fees
The trading commissions applied by Eightcap depend on the type of account used: the Raw Account or the Standard Account.
- The Raw Account has a fixed commission of $3.50 per trade and spreads starting from 0.0 pips.
- The Standard Account is a commission-free account with variable spreads starting from 1.0 pip.
In summary, with the Raw Account you can benefit from tighter spreads, but with a fixed commission of $3.50.
To trade stock CFDs, a commission of $0.02 per share applies to both accounts, with a minimum of $4.
If open positions are held past midnight, rollover costs (swap rates) must also be taken into account. These costs are variable depending on the tradable asset, but in any case are communicated in advance by Eightcap within the platform.
Let us now look at the costs of maintaining an Eightcap account.
As mentioned in the account types section, Eightcap charges no additional fees for deposits or withdrawals.
Opening, maintaining, and closing an Eightcap account is completely free.
In the event that the account remains inactive for more than 6 months, Eightcap may charge administrative inactivity fees. We recommend logging in occasionally or withdrawing funds from your account if you no longer intend to continue using it.
Deposits and Withdrawals at Eightcap
Eightcap offers numerous methods for clients to deposit and withdraw money from their trading account. These are:
- Debit/credit card
- Bank transfer
- Cryptocurrencies
- PayPal
- Skrill
- Neteller
- Interac
- uPop and others
Deposits made through these payment methods are always free and immediate (with the exception of bank transfers, which may take between 1 and 5 business days to be credited).
Withdrawals are processed within 24–48 hours and are typically completed within 5 business days.
Eightcap does not charge any internal fees for deposits/withdrawals, but there may be fees associated with the payment service provider, especially in the case of e-wallets such as Skrill and Neteller.
» In which currencies can the account be opened?
When opening an account, you can choose the account’s base currency from 7 available options, namely:
- EUR
- USD
- GBP
- AUD
- CAD
- NZD
- SGD
The chosen base currency will be used for all deposits and withdrawals.
» What is the minimum deposit with Eightcap?
For both the Raw Account and the Standard Account, the minimum required deposit is €100 (or the equivalent in the account’s base currency). This relatively low minimum deposit, compared to other brokers, makes it easier to get started with trading.
» Is there a demo account with Eightcap?
Yes, Eightcap offers a virtual account with simulated funds, which is useful for testing the broker’s platform and services before opening a real account. Once activated, the demo account is valid for 30 days.
Customer Support
Eightcap offers customer support in several languages, including Spanish. The channels through which assistance is provided are:
- Live chat
- Phone
Based on our cross-testing, Eightcap’s Customer Support team appears to be efficient and prompt in responding to clients, especially through the live chat service, where immediate assistance is provided.
Security
Eightcap operates under the regulatory oversight of several renowned global financial authorities, including the Australian Securities & Investment Commission (ASIC), the Financial Conduct Authority (FCA) in the United Kingdom, the Securities Commission of The Bahamas (SCB), and the Cyprus Securities and Exchange Commission (CySEC) in Europe.
Eightcap maintains a constant commitment to the highest standards of transparency, client protection, and operational integrity.
Additionally, Eightcap safeguards its clients’ funds by keeping them in segregated accounts at leading financial institutions. The company employs rigorous security technology and protocols to provide an additional layer of protection for clients’ personal and financial information.
Other Categories of this broker
- CFD Broker.
- Gold Broker.
- Silver Broker.
- Metatrader 4 Broker.
- Metatrader 5 Broker.
| Company | Eightcap Pty Ltd |
|---|---|
| Operating since | 2009. |
| Minimum account size | $100 USD. |
| Minimum lot size | 0.01 lots for all accounts. |
| Maximum Leverage* | Up to 1:1000. |
| Spreads | Depending on the trading account, Eightcap offers the following spreads:
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| Link to the website |
