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Eightcap Review 2024

Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg

August 01, 2024

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail CFD accounts lose money. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Eightcap presents a solid forex and CFD offering, positioned as a reliable broker for traders looking for a variety of trading options, especially cryptocurrency CFDs, and support for a wide range of third-party platforms.

Overall Rating

7.6 / 10

Minimum Deposit

$100

Trust Score info

Trusted

Pros and Cons

thumb_up_off_alt Pros

Regulatory Compliance: Eightcap is authorized by major regulatory bodies including ASIC and FCA, enhancing its reliability.
Third-party platforms: Provides access to both MetaTrader 4 and MetaTrader 5, TradingView, and other platforms, appealing to a broad range of traders.
Cryptocurrency: Compared to other forex brokers, offers the most cryptocurrency CFDs.

thumb_down_off_alt Cons

Limited Forex Pairs: Only offers 56 forex pairs, which is less than some competitors.
No Advanced Education: Lacks advanced educational videos, which could be a drawback for more experienced traders.
Average Investment Offerings: Received a slightly lower recommendation in the offering of investments, indicating a more limited range of assets.

Ratings Summary

Investment Types - 7.0/10
Commissions & Fees - 7.5/10
Trading platforms - 7.5/10
Research - 7.0/10
Mobile Apps - 7.5/10
Education - 7.0/10
Overall - 7.6/10

Can I trust Eightcap?

We can confidently say Eightcap is a trustworthy broker, being publicly listed and regulated by significant authorities like ASIC and the FCA. According to ForexBrokers.com, with a Trust Score of 85, Eightcap is considered "Trusted."

Eightcap is currently licensed and/or authorised by the following regulatory bodies:

Tier-1 Regulators - Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system
Tier-2 Regulators - None
Tier-3 Regulators - None
Tier-4 Regulators - Securities Commission of the Bahamas (SCB)

Is Eightcap good for beginners?

While Eightcap offers beginner education videos and some other educational resources, it lacks advanced educational content and the more detailed educational resources of other brokers.

Feature	Eightcap
Education (Forex or CFDs) info	Yes
Client Webinars info	No
Videos - Beginner Trading Videos info	Yes
Videos - Advanced Trading Videos info	No
Investor Dictionary (Glossary) info	Yes

Eightcap commissions and fees summary

Our review of Eightcap's fees finds it to be competitively priced, especially as it offers a relatively low average spread cost for the EUR/USD pair at 1 pip, below the industry average of 1.08.

Feature	Eightcap
Minimum Deposit info	$100
Average Spread EUR/USD - Mini info	1.0 info
Average Spread EUR/USD - Standard info	1.0 info
All-in Cost EUR/USD - Active info	0.76
Active Trader or VIP Discounts info	No

Eightcap trading platforms and tools

tips_and_updates Did you know? Trading platforms comparison

Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.

Eightcap's provision of MetaTrader 4, MetaTrader 5, TradingView, and Capitalise.ai’s algorithmic trading platforms comes highly recommended, supporting a robust trading experience for both novice and seasoned traders.

Trading platforms offered: MetaTrader 4, MetaTrader 5, TradingView, and Capitalise.ai’s algorithmic trading platforms are available.

Trading tools: The broker provides standard trading tools available through its third-party platforms.

Copy trading: Offers copy trading, adding value for traders interested in mimicking the strategies of others.

Feature	Eightcap
Virtual Trading (Demo) info	Yes
Proprietary Platform info	No
Desktop Platform (Windows) info	Yes
Web Platform info	Yes
MetaTrader 4 (MT4) info	Yes
MetaTrader 5 (MT5) info	Yes
DupliTrade info	No

Eightcap trading platform screenshots

Eightcap MT5 desktop trading platform chartings

Eightcap MT5 desktop trading platform depth of market

Eightcap MT5 desktop trading platform signals market

Mobile trading apps at Eightcap

Eightcap's mobile trading apps are recommended for traders who need to manage their investments on the go, with a good level of functionality and usability.

Feature	Eightcap
Android App info	Yes
Apple iOS App info	Yes
Mobile Economic Calendar info	Yes
Mobile Alerts - Basic Fields info	Yes
Mobile Charting - Draw Trendlines info	Yes
Mobile Watchlist info	Yes

Eightcap mobile app screenshots

Eightcap MT4 mobile trading app watchlist

Eightcap MT4 mobile trading app economic calendar

How do I open an account with Eightcap?

Visit the Eightcap website and select the 'Sign Up' button.
Fill out the registration form with your personal details.
Verify your identity by submitting the required documents.
Make your initial deposit using one of the supported payment methods.
Start trading once your account is set up and funded.

What can I trade at Eightcap?

Eightcap offers trading in 56 forex pairs and 736 other tradeable symbols, providing a somewhat limited but focused range of options. It does have a standout collection of more than 100 cryptocurrency CFDs, however.

Feature	Eightcap
Tradeable Symbols (Total) info	736
Forex Pairs (Total) info	56
Social Trading / Copy Trading info	Yes
Cryptocurrency (Physical) info	No
Cryptocurrency (Derivative) info	Yes
Spread Betting info	No

Eightcap research screenshots

Eightcap YouTube channel videos research market update series

Account funding at Eightcap

Eightcap supports various funding methods including bank wires, Neteller, PayPal, credit cards, and Skrill eWallet, making the account funding process versatile and convenient for different preferences.

Feature	Eightcap
Visa/Mastercard (Credit/Debit) info	Yes
Bank Wire (Deposit/Withdraw) info	Yes
PayPal (Deposit/Withdraw) info	Yes
Skrill (Deposit/Withdraw) info	Yes
Neteller (Deposit/Withdraw) info	Yes

About Eightcap

Eightcap was founded in 2009 and has established itself as a reliable broker in the forex and CFD trading industry. While not publicly traded, it upholds high standards of regulatory compliance, being authorised by ASIC in Australia and the FCA in the UK. This solid regulatory framework combined with its commitment to offering competitive trading conditions has helped Eightcap build a respected presence in the global financial markets.

Compare Eightcap

See how Eightcap stacks up against other brokers.

Eightcap vs Libertex (Forex Club) Eightcap vs easyMarkets Eightcap vs ATFX Eightcap vs Octa Eightcap vs Interactive Brokers Eightcap vs ACY Securities Eightcap vs Trade Nation Eightcap vs Plus500 Eightcap vs iFOREX Eightcap vs HYCM (Henyep Capital Markets) Eightcap vs City Index Eightcap vs OANDA Eightcap vs Exness Eightcap vs Tickmill Eightcap vs eToro Eightcap vs XTB Eightcap vs FP Markets Eightcap vs Vantage

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Methodology

At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.

Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.

Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

About the Editorial Team

BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.

Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.