Eightcap Review
4.5/5

Eightcap Review

✅ Regulated by the tier-1 regulatory
✅ Over 1,000 trading assets
✅ MetaTrader 4 and MetaTrader 5 trading platforms
✅ Free educational material

Home » Eightcap Review
OverallCommissions & FeesLicensing & SafetyPlatforms & Tools
Points91899393
*To test the broker, we used our unique and detailed methodology, which assesses over 200 criteria points in 10 key areas.

OverviewFees and commissionsSafetyOpening an accountAccount typesTrading PlatformsMarkets and productsResearch toolsEducation and trainingCustomer supportOur verdict

Eightcap overview

Established in 2009, Eightcap Forex broker has managed to become very popular around the world. Regulated by several jurisdictions, this broker offers services all around the globe. Over the past decade, Eightcap has grown a lot and has managed to offer traders of all different interests high-quality, safe, and secure services.

There are over 1,000 assets available at Eightcap, ensuring that anyone can find something that fits their personal needs. Eightcap is available in over 190 countries around the world, excluding the US.

Due to the high-quality services offered by Eightcap, it has managed to win numerous awards over the past few years and has been named as a leading brokerage on several occasions.

  • Over 1,000 trading assets available;
  • Offers free educational material;
  • Has won numerous awards;
  • Not available in the US
Pros
  • Regulated by the tier-1 regulatory agency
  • Offers access to over 1,000 trading assets
  • Offers traders access to MetaTrader 4 and MetaTrader 5 trading platforms
Cons
  • Is not available for traders in the US
  • Only offers 2 types of accounts.

overall scores

In this review, you can find all the information you need to decide whether is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how scored in each of our high-priority categories.

Review of Eightcap – Fees and commissions

When reviewing Eigthcap, one of the first aspects that we focused on is the cost of trading. In most cases, Forex brokers charge traders different types of fees. Some of them are related to actual trading activities, while others are non-trading fees charged during deposits and withdrawals.

Trading fees are the ones that are charged every time you open a new position. These are mostly spreads, which acts as the main income source for Forex brokers. On the other hand, non-trading fees are the ones you might have to pay while making deposits and withdrawals.

You can take a quick look at our tables below to find out more about the fees and commissions charged by the broker. Keep in mind that these findings are based on a standard account.

Eightcap Forex trading commissions

The fees charged by Eightcap vary depending on the type of account you are using and the assets you are trading. In general, the fees charged by the broker are very competitive in the market.

There are no commissions charged by the broker on deposits and withdrawals, but ensure to double-check this information with the issuer of your payment, as there might be some commissions charged from their side.

The fees for Forex currency pairs are very low with Eightcap broker. Usually, they start from just 1 pip, offering traders to make maximum profits from their trades. The Forex broker also does not charge inactivity fees, which is a great advantage for traders.

If you at some point decide that you do not want to trade Forex anymore, you can simply leave things as it is without additional headache.

As for other assets, such as commodities, stocks, indices, and cryptocurrencies, the spreads are very low as well and they start from 0 pips, depending on the market conditions and the account type you are using. Keep in mind that if you are using the Raw account, you will have to pay a commission of $3.5.


Eightcap review – Safety & security

One of the most important factors that you should be focused on when choosing a Forex broker is the safety and security of your funds. There are several measures that can be used to determine whether the broker is secure.

eightcap safety

Among them are the regulations and licenses of the broker. Eightcap is a heavily regulated Forex broker which owns licenses from several jurisdictions.

As a brokerage based in Australia, it is regulated by the nation’s main regulation authority. Australian Securities and Investments Commission is one of the best-known regulatory agencies around the world, which has recently updated its regulatory guidelines.

The broker is registered by ASIC as Eightcap Pty Ltd and this license gives the broker the opportunity to offer services to traders from Australia. According to the recent changes in the Australian regulatory framework, the broker has to limit the available leverage at 1:30, while it is also required to offer traders educational material as well as negative balance protection and keep the funds of clients on separated bank accounts.

All of these measures ensure the highest safety standards for the clients of the broker.

The broker is also registered as Eightcap Global Limited with the Securities Commission of The Bahamas, SCB. This license allows the broker to offer services to traders around the world.

The high safety and security standards of the broker make it a great choice for traders around the world.


Opening an account at Eightcap

Opening an account at Eightcap is a very easy procedure that should not take traders more than a few minutes. Eightcap follows the Know Your Customer policy, which means that its clients are required to verify their identity before being able to start trading Forex.

To open an account, you will simply have to go to the website of the broker, click sign up, and provide basic information about yourself. After doing so, you will be able to continue by verifying your identity.

This can be done by providing a copy of your government-issued ID as well as a copy of a utility bill issued over the past three months, which can be used to verify your location. After your account is verified, you can start depositing funds, download the trading platform, log in, and start trading.


Account types offered by Eightcap

There are two main account types offered by Eightcap. These account types are very comfortable for traders and are designed to meet the interest of anyone. You can create either of these accounts of Eightcap:

  • Standard Account
  • Raw Account

The main difference between these two account types is that standard account holders pay floating spreads, while the holders of raw accounts pay fixed spreads. Let’s discuss each of these accounts one by one and discover how they differ from one another.

Standard Account

The standard account of Eightcap broker is called standard for a reason. This account is great for everyone – whether you are a beginner trader or an experienced one, the standard account of Eightcap can be a great option for you. In order to open this account, you will be required to pay a minimum deposit of at least $100.

Account types offered by Eightcap

The minimum trade size for this account is 0.01 and offers traders numerous expert advisors for maximum comfort. Typically, the spreads for EUR/USD with this account are between 0.5-1.8 pips, and its holders are not required to pay any commissions.

The margin call for this account is 80 percent, and the stop-out level is 50 percent. The broker allows standard account users to use hedging strategies, but it is not available in Australia due to local restrictions.

Raw Account

The offerings and requirements of raw accounts are very similar to the standard account, but there are several distinctions. The main difference is that the raw account comes with spreads that start at zero. However, a commission of $3.5 per standard lot traded does apply to the raw account. The minimum deposit for a raw account is $100, and the minimum trade size is 0.01.

The majority of the other conditions, including margin call and stop-out level, are the same as it is for a standard account. Holders of both accounts have the opportunity to choose from 7 base currencies, which are: AUD, USD, EUR, GBP, NZD, CAD, SGD.

Demo Account

When reviewing Eightcap Forex broker, we found that it also offers clients a demo account. The demo account can be a great option for traders who want to try out the offerings of the broker before committing to it.

The demo account perfectly resembles the actual market conditions and lets traders practice different types of strategies and see which one fits their trading goals the best. This account can be especially useful for beginner traders, who do not have much experience in the market.

It can be used by these traders to further increase their understanding and knowledge about the market and make the most out of the Forex trading industry.


Trading platforms of Eightcap reviewed

Eightcap offers its clients two of the best-known trading platforms in the market. They are MetaTrader 4 and MetaTrader 5. Both of these trading platforms are very well-known around the world and are used by the majority of Forex traders.

MetaTrader 4 was created in 2005 by a famous Russian company called MetaQuotes and it has forever changed the way people view Forex trading. MT4 is known as the best trading platform for currency pairs and offers clients different types of amazing services. This includes the opportunity to not only trade currency pairs but also analyze the Forex trading market in a very detailed and comprehensive manner.

Trading platforms of Eightcap reviewed

MT4 also allows traders to use Expert Advisors, which are a great way to make easy and quick profits in the Forex trading market. MetaTrader 5 was also created by MetaQuotes. Contrary to the popular belief, MT5 is not a simple update of MT4, rather, it is a trading platform of its own.

While the two are very similar to one another in terms of how they look, there are some distinct differences between these two. For example, MT4 was created with Forex trading in mind, while MT5 tends to be better with other assets, such as stocks and cryptocurrencies, for example.

All in all, both of these trading platforms are very well-known and are very comfortable to use. Offering these platforms to its clients, Eightcap ensures to make the trading process smooth and enjoyable, as well as allow traders to make decisions after very detailed and extensive market analyses.


Markets and products of Eigthcap reviewed

The clients of Eightcap have the opportunity to trade a very diverse array of trading assets. This ensures that everyone can find something that fits their individual trading needs really well and can make profits from the markets that they are most knowledgeable about.

Among the assets that you can trade on Eigthcap are:

  • Forex currency pairs;
  • Stocks;
  • Indices;
  • Commodities
  • Cryptocurrencies.

There are over 40 major and minor currency pairs available for trading at Eightcap, which lets traders make good decisions about their trading. Eightcap also allows traders to use commodities such as gold, silver, and oil. Other commodities, including soft commodities, are also available for trading. This includes wheat, cotton, and many others.

You can also trade some of the best-known stocks and indices with this broker. Cryptocurrencies such as Bitcoin, Ethereum, Litecoin can also be traded with the broker. Such a diverse array of offerings is possible thanks to CFD trading.


Research tools of Eightcap review

There are numerous tools available for traders to use for extensive market analyses when trading with Eightcap. Both MetaTrader 4 and MetaTrader 5 allow the clients of the broker to use some of the best technical indicators available in the market.

The broker also offers traders the opportunity to use Expert Advisors, which are MT4 and MT5 tools created for automating some parts of the Forex trading market.

Eightcap also allows its clients to use Capitalise.ai free of charge, which automates the process of trading. You can also plan your trades on your own and let the machine execute your positions. FX Blue Labs is also available for Eightap clients; these are special easy-to-use widgets, which makes it easier to analyze the price movements.


Eightcap review: Education and training

Learning more about the Forex trading market is something that every trader should be focused on. No matter how experienced you are in the market, there is always something new that you might need to learn.

Trading Education

One of the biggest advantages of Eigthcap is the fact that it offers clients a very wide range of educational material. This includes different types of guides on hard-to-understand topics in the market.

The broker also offers traders a guide on how to use MT4 and MT5 trading platforms to help beginners. There are also different types of strategy guides that the broker offers, as well as daily news updates about the Forex trading market for better judgment and analyses. The broker also offers overviews of different types of financial events, which can be used by traders to understand how worldwide events can influence the Forex trading market.

As for trading, there is a demo account available on Eightcap, which can be used by beginners to develop their skills and understand more about the Forex trading market.


Review of Eightcap’s customer support

When you are trading Forex, you never know what can go wrong. For this, you should be sure that whenever you need help, there is always someone who is ready to answer your questions.

There are several ways to contact the customer support team. Among them are:

  • Live chat on the website;
  • Hotline: +61385922375; +67835382;
  • Email: ​​[email protected].

We tried all of these customer support channels and we were very satisfied with the answers that we got. Not only was the customer support very fast, but they also were very comprehensive and helpful with their answers.


Our verdict on Eightcap

After throughout review of Eigthcap, we managed to find out that this Forex broker is a very good brokerage. The team behind the broker has put a lot of effort and work into creating a place for traders of all kinds.

No matter what your interests are, it is very likely that you will be able to find it on Eightcap. The broker offers a very wide range of trading assets, making it a great option for retail traders around the world.


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Cryptocurrency Trading
1,000 Trading Assets
Min Deposit: $100

5.0
Licensing & Safety
5.0
Markets
4.0
Bonuses & Promotions
4.0
Customer Support
4.5 Overall Rating

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Eightcap Review
4.5/5