Eightcap Review

Introduction

Eightcap is an Australian forex and CFD broker that offers trading in over 800 financial instruments, including forex pairs, cryptocurrencies, and other assets. It stands out for its low forex fees and fast account opening process.

The broker provides two main account types: Standard and Raw. Both offer competitive spreads, but the Raw account has even tighter spreads with a small commission. Eightcap uses the popular MetaTrader 4 and MetaTrader 5 platforms, giving traders access to advanced charting tools and automated trading options.

Eightcap, regulated by the Australian Securities and Investments Commission (ASIC), aims to provide a secure trading environment. The broker has earned positive reviews for its customer service, with users praising its quick response times and helpful support staff.

Key Takeaways

• Eightcap offers low forex fees and a wide range of tradable assets
• ASIC regulates the broker and provides a secure trading environment
• Traders can choose between Standard and Raw accounts, both with competitive spreads

Company Overview

Eightcap Main Features

Feature Title	Feature Value
🗺️ Year Founded	2009
🏢 Headquarters	Melbourne, Australia
⚖️ Tier-1 Licenses	3
⚖️ Tier-2 Licenses	No
⚖️ Tier-3 Licenses	1
Minimum Initial Deposit	$100
No. of Trading Platforms	4
No. of Trading Accounts Types	3
Demo Trading	Yes
Leverage (EU Clients)	Up to 1:30
Leverage(Non-EU-Clients)	Up to 1:500
Average Spread EURUSD	1.0
💰 Withdrawal fee	No
Withdrawal Time	Same day
💰 Inactivity Fee	No

Eightcap is a regulated forex and CFD broker with a global presence. The company focuses on providing trading services to clients worldwide through advanced platforms and a wide range of financial instruments.

Regulatory Framework and Licensing

Eightcap operates under strict regulatory oversight. The Australian Securities and Investments Commission (ASIC) regulates the company’s main entity in Melbourne. This ensures Eightcap follows strict financial standards and protects client funds.

The broker has also expanded its regulatory coverage. It holds licenses from the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). These additional licenses allow Eightcap to serve clients in Europe and other regions.

Eightcap’s Global Presence

Eightcap has offices in key financial hubs around the world. Its headquarters are in Melbourne, Australia, but the company has expanded its reach to serve traders globally.

The broker’s international offices help it provide localised support and services. Eightcap representatives are available in various countries, making it easier to get help in your time zone and language.

Eightcap’s global expansion has led to partnerships with local banks and payment providers. This makes deposits and withdrawals more convenient for clients in different regions.

Account Types Offered

Eightcap offers two main account types to suit different trading styles and preferences. Each account type has its features and benefits tailored to traders’ needs.

Here’s a comparison table, summarizing the key features of Eightcap’s account types:

Feature	Raw Account	Standard Account	TradingView Account	Demo Account
Spreads From	0.0 pips	1.0 pips	1.0 pips	N/A
Instruments	800+	800+	800+	800+ (Simulated)
Commission	3.5 AUD (or equivalent currency)	No Commission	No Commission	No Commission
Minimum Deposit	€100	€100	€100	No deposit required
Min./Max. Trade Size	0.01 lots / 100 lots	0.01 lots / 100 lots	0.01 lots / 100 lots	Simulated trading
EAs	Available	Available	Available	Available
Margin Call Level	80%	80%	80%	N/A
Stop Out Level	50%	50%	50%	N/A
Account Base Currencies	AUD, USD, EUR, GBP, NZD, CAD, SGD	AUD, USD, EUR, GBP, NZD, CAD, SGD	AUD, USD, EUR, GBP, NZD, CAD, SGD	N/A
Scalping	Allowed	Allowed	Allowed	N/A
Hedging	Allowed	Allowed	Allowed	N/A
Demo Features	N/A	N/A	N/A	Expire after 35 days or 5000 orders, limited number of demo accounts allowed

Standard Account Features

The Standard account is ideal for beginners and those who prefer straightforward pricing. It has no commission fees, making it easier to calculate costs. The minimum deposit is low, often around $100, which lets you start trading with a small amount.

Spreads on this account start from 1 pip for major currency pairs. You can access over 40 forex pairs and other assets like indices and commodities. The Standard account offers leverage up to 1:30 for retail clients, but this may vary based on your location and status.

This account supports popular platforms like MetaTrader 4 and 5. It also includes basic charting tools and market analysis to help with trading decisions.

Raw Account Benefits

The Raw account is geared towards more active traders who want tighter spreads. It charges a small commission per trade but offers lower spreads starting from 0 pips. This can lead to lower overall costs for high-volume traders.

The minimum deposit for a Raw account is usually higher, often around $500. You can access the same range of assets as the Standard account but with more competitive pricing. Leverage options are similar, but professional traders may be able to access higher levels.

Raw accounts come with advanced trading tools and faster execution speeds. You can use sophisticated platforms like TradingView and Capitalise.ai for algorithmic trading. This account type also offers more detailed market analysis and research tools to help refine your strategies.

Trading Platforms and Tools

Eightcap offers several popular trading platforms and tools to help you execute trades and analyse markets. These include industry-standard MetaTrader options, TradingView integration, and automated trading capabilities.

MetaTrader 4 and 5

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are Eightcap’s primary trading platforms. MT4 is ideal for forex trading, while MT5 supports a wider range of assets.

Both platforms offer:

• Customisable charts and indicators
• One-click trading
• Multiple order types
• Real-time market data

MT5 has some extra features like:

• Economic calendar
• More timeframes
• Advanced pending orders

You can access MT4 and MT5 on desktop, web, and mobile devices. This lets you trade on the go or from your home computer.

TradingView Integration

Eightcap integrates with TradingView, a popular charting and social trading platform. This gives you access to:

• Advanced charting tools
• A large community of traders
• Custom indicators and strategies

With TradingView, you can:

• Create and share trading ideas
• Follow other traders
• Use pre-built technical indicators

The platform is known for its user-friendly interface and powerful analysis tools. It’s a great option if you want more advanced charting than MT4 or MT5 offer.

Automated Trading and Expert Advisors

Eightcap supports automated trading through Expert Advisors (EAs) on MT4 and MT5. EAs are programs that can:

• Monitor markets 24/7
• Execute trades based on pre-set rules
• Eliminate emotional decision-making

You can create your EAs or use pre-made ones. Eightcap also offers:

• VPS hosting for 24/7 EA operation
• Low latency for fast trade execution
• Compatibility with popular EA marketplaces

Automated trading can be a powerful tool, but it’s essential to test strategies thoroughly before using real money.

Financial Instruments and Markets

Eightcap offers a wide range of trading instruments across multiple financial markets. Traders can access forex pairs, CFDs on commodities and indices, shares, and cryptocurrencies.

Diverse Forex Pairs

Eightcap provides access to over 40 forex pairs. These include major pairs like EUR/USD and GBP/USD as well as minor and exotic pairs. Spreads start from 0.0 pips on the Raw account.

You can trade with leverage up to 1:500 on forex pairs. This lets you control larger positions with a smaller deposit. Keep in mind that high leverage also increases risk.

Eightcap offers competitive pricing on forex. The broker uses institutional-grade liquidity providers for fast execution and tight spreads.

CFDs on Commodities, Indices, and Shares

You can trade CFDs on various commodities, stock indices, and individual shares with Eightcap. Commodity CFDs include metals like gold and silver, as well as energies such as oil. Major global stock indices, including the FTSE 100 and S&P 500, are available. You can access stocks from the US, UK, Europe, and Australian markets to share CFDs. Over 300 share CFDs are offered.

CFD trading lets you speculate on price movements without owning the underlying asset. You can go long or short on these markets.

Access to Cryptocurrency Markets

Eightcap offers over 250 cryptocurrency pairs for trading. This includes popular coins like Bitcoin and Ethereum, as well as many altcoins. You can trade crypto as CFDs with leverage up to 1:20. You don’t need to own or store the actual cryptocurrencies.

Crypto CFDs are available 24/7, matching the always-open nature of crypto markets. Spreads are competitive, starting from 0.5% for major pairs. Eightcap provides educational resources to help you understand crypto trading. Remember that cryptocurrencies can be very volatile.

Trading Conditions

Eightcap offers competitive trading conditions for forex and CFD traders. The broker provides tight spreads and flexible leverage and allows scalping and hedging strategies.

Spreads and Commissions

Eightcap’s spreads start from 0.0 pips on its Raw Account. This account type charges a commission of $3.50 per lot traded. The Standard Account has no commission but wider spreads from 1.0 pip.

For forex pairs, typical spreads are:

• EUR/USD: 0.1 pips
• GBP/USD: 0.3 pips
• USD/JPY: 0.2 pips

CFD spreads vary by asset. Stock CFDs have spreads from 0.1% and crypto CFDs from 0.5%. Trading fees are transparent and without hidden costs. Eightcap doesn’t charge deposit or withdrawal fees, but third-party fees may apply.

Leverage and Margin Requirements

Eightcap offers leverage up to 1:500 for forex pairs. Leverage levels vary by instrument:

• Forex majors: Up to 1:500
• Forex minors/exotics: Up to 1:300
• Indices: Up to 1:200
• Commodities: Up to 1:100
• Cryptocurrencies: Up to 1:20

Margin requirements change based on the leverage used. For example, 1:100 leverage requires 1% margin.

You can adjust your leverage in the client portal. Lower leverage reduces risk but requires more capital. Higher leverage allows trading larger positions but increases potential losses.

Scalping and Hedging Policies

Eightcap’s trading platforms allow both scalping and hedging. These strategies are not restricted. Scalping involves making many quick trades to profit from small price movements. It’s popular with forex traders using high leverage.

Hedging lets you open opposite positions on the same instrument. This can help manage risk or profit from price swings. The broker’s fast execution speeds support these trading styles. In normal market conditions, orders are filled quickly with minimal slippage.

Additional Services

Eightcap offers extra tools to help you trade better. These include copy trading options and market analysis resources.

Copy Trading and Social Trading Features

You can use copy trading on Eightcap to follow top traders and copy their trades automatically. This is great if you’re new to trading or short on time.

Social trading lets you see what other traders are doing. You can learn from their moves and chat with them. This can help you make smarter trading choices.

Eightcap partners with platforms like Myfxbook for these features. You’ll need to link your account to use them.

Economic Calendar and Market Analysis

Eightcap gives you an economic calendar. It shows key events that might affect markets. You can plan your trades around these events. The broker also offers market analysis. You get daily updates on market trends. These cover forex, stocks, and other assets.

You can find trading ideas and tips from experts. These help you spot good trading chances. Eightcap also shares trading strategies you can try. Some tools are on Eightcap’s website, and others are on your trading platform. You might need to sign up for a live account to use all of them.

Customer Support and Experience

Eightcap offers solid customer support and a range of resources to help traders. The broker strongly emphasizes user assistance and educational tools.

User Support Services

Eightcap provides customer support through several channels. You can reach their team by live chat, email, and phone. The support staff is known for being quick to respond and helpful.

Many users praise Eightcap’s customer service. They say the team is professional and informative. Some traders mention getting help from account managers who offer personalised support.

The broker’s support is available 24/7, matching forex market hours. This means you can get help when it is most needed during active trading times.

Education and Training Resources

Eightcap offers traders a variety of educational content. On its website, you’ll find articles, videos, and webinars covering topics like trading basics, market analysis, and platform guides.

The broker also provides a demo account. This lets you practice trading without risk. It’s a valuable tool for new traders to learn the ropes.

For more advanced traders, Eightcap offers market analysis and trading ideas. These can help you stay current with market trends and opportunities.

Account Management

When you sign up with Eightcap, you’re assigned an account manager. This person helps with your onboarding and ongoing trading experience. Account managers can assist with account setup, deposits, and withdrawals and answer questions about trading platforms and products.

Some users report positive experiences with their account managers. They describe them as professional and helpful. Your account manager can be a valuable resource, especially if you’re new to trading. Eightcap offers different account types to suit various trading styles. Your account manager can help you choose the right one for your needs.

Deposits, Withdrawals, and Security

Eightcap offers various payment methods and robust security measures. Multiple options allow you to deposit and withdraw funds easily.

Payment Methods and Minimum Deposits

Eightcap accepts several payment methods, including bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller. Cryptocurrency deposits are also an option.

For most account types, the minimum deposit is £100. This low entry point makes Eightcap accessible to new traders. E-wallet deposits are usually instant. Bank transfers may take 1-3 business days to process. Credit card deposits are quick but may incur fees from your card issuer.

Here’s a detailed Deposit & Withdrawal Methods Comparison Table for Eightcap:

Method	Available Currencies	Processing Time (Deposit)	Deposit Fee	Withdrawal Fee	Processing Time (Withdrawal)	Transaction Limit
Visa/Mastercard	AUD, USD, GBP, EUR, NZD, CAD, SGD	Instant	$0	$0	2-5 business days	$5,000 (deposit)
PayPal	AUD, USD, GBP, EUR, NZD, SGD	Instant	$0	$0	1-5 business days	$4,000 (deposit)
Wire Transfer	AUD, USD, GBP, EUR, NZD, CAD, SGD	1-5 business days	Variable	$0*	1-5 business days	Above USD $25 / EUR $20
BPay	AUD	1-5 business days	$0	$0	1-3 business days	$50,000 (deposit)
Skrill	USD, EUR (only for EEA clients), CAD	Instant	Variable	$0	1 business day	$50 – $50,000 (deposit)
Neteller	USD, EUR (only for EEA clients), CAD	Instant	Variable	$0	1 business day	$50 – $50,000 (deposit)

Key Notes:

• Eightcap does not charge internal fees for deposits or withdrawals, but third-party fees (from banks and payment providers) may apply.
• Although processing times for bank transfers vary by location, they are typically 1-5 business days for both deposits and withdrawals.
• E-wallets like Skrill and Neteller offer faster processing times (usually one day) for both deposits and withdrawals, which is beneficial for traders seeking quick access to fund

Withdrawal Options and Speed

Eightcap offers free withdrawals. You can use the same methods as for deposits. The broker aims to process withdrawal requests within 24 hours.

E-wallet withdrawals are the fastest, often completed within hours. Bank transfers typically take 2-5 business days, and card withdrawals may take 3-5 days.

You must withdraw up to the deposit amount using the same method. This policy helps prevent money laundering.

Security Measures and Trust Score

Eightcap uses SSL encryption to protect your data and funds. The broker is regulated by top-tier authorities like ASIC and the FCA.

Two-factor authentication adds an extra layer of security to your account. Eightcap keeps client funds in segregated bank accounts for added protection.

The broker’s long-standing reputation and regulatory compliance boost its trust score. Regular audits and transparency reports further enhance Eightcap’s security profile.

Conclusion

Eightcap is a reliable and versatile broker. It offers a solid range of trading instruments, competitive spreads, and multiple platforms, including MetaTrader 4, MetaTrader 5, and TradingView.

With regulation from ASIC and other global authorities, Eightcap ensures a secure trading environment for beginners and advanced traders. The broker’s Raw and Standard accounts cater to different trading styles, and their global reach offers localized support.

However, advanced traders may find the Raw account more cost-effective due to lower spreads despite commission charges.

Frequently Asked Questions

Eightcap offers various account types, trading platforms, and features. Let’s address some common queries about this broker’s services and operations.