Eightcap Review and Tutorial 2021
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Eightcap Facts & Figures | |
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Eightcap is a multi-regulated FX & CFD broker offering the MT4 & MT5 platforms. | |
Instruments | Forex, CFDs, indices, shares, commodities, cryptocurrencies |
Demo Account | Yes |
Min. Deposit | A$100 |
Pay Methods | Credit Card, Neteller, POLi, Skrill, UnionPay, Visa |
Min. Trade | 0.01 lots |
Regulated By | ASIC, VFSC |
MT4 Integration | Yes |
MT5 Integration | Yes |
Mobile Apps | Yes |
Auto Trading | Yes |
Social Trading | No |
Copy Trading | No |
Trade Signals | No |
Islamic Account | No |
CFD | |
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Trade CFDs on popular indices, shares, forex, & commodities | |
FTSE Spread | 1.2 |
GBPUSD Spread | 1.0 |
Oil Spread | 1.0 |
Stocks Spread | 1.0 |
Leverage | 1:500 |
Forex | |
Trade on dozens of major, minor & exotic pairs | |
GBPUSD Spread | 1.0 |
EURUSD Spread | 1.0 |
EURGBP Spread | 1.0 |
Assets | 30 |
Cryptocurrency | |
Trade on leading cryptocurrency coins | |
Spread | From 0.0 pips |
Coins | BTC, LTC, ETH, XRP |
Eightcap is a global CFD and forex broker. Offering both the MT4 and MT5 trading platforms, as well as two competitive accounts, users can trade over 200 financial instruments with ease. This review can help you decide whether to open an account, covering spreads, leverage plus the mobile app and demo account.
Eightcap Company Overview
Eightcap was founded in 2009 and is based in Melbourne, Australia. The company is regulated by the Australian Securities and Investment Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).
Eightcap’s global success is represented by its partnership with the Scuderia Ferrari F1 team. The CEO has also ensured there are multilingual client support teams based in the UK, Germany, China, and Thailand, among others.
Trading Platforms
MetaTrader 4
The award-winning MT4 platform facilitates online trading in forex, indices, and commodities. With its advanced interface, automated trading capabilities, and comprehensive charting package, it’s an excellent all-round platform.
Features include:
- 9 time-frames, 30 built-in indicators, 24 graphical objects
- Free-of-charge trading robot and access to Expert Advisors
- 4 types of pending orders, 3 order execution types
- Real-time quotes in Market Watch
- One-click trading
- Historical data

MT4 is available to download on Windows, macOS, and Linux PCs.
MetaTrader 5
MT5 is an advanced platform offering trading in forex, indices, shares, commodities, and cryptocurrencies. Users benefit from:
- 21 time-frames, 38 technical indicators, 44 graphical objects
- Free-of-charge trading robot and access to Expert Advisors
- 6 types of pending orders, 4 order execution types
- One-click trading and Advanced Market Depth
- Financial news and economic calendar
- Real-time quotes in Market Watch
- Netting and hedging
- Community chat
- Historical data

MT5 is available to download on Windows, macOS, and Linux PCs.
WebTrader
Eightcap also offers the Web Trader version of MT5. The web-accessible platform can be opened easily from the broker’s website and offers the same range of features as the desktop download. It’s a quick and hassle-free way to get connected to the markets.
Assets
Eightcap clients can trade on:
- Currencies – Trade 30 major, minor, and exotic forex pairs
- Share CFDs – Trade on 200 of Australia’s most popular companies, including Westpac Banking Corp & Woolworths
- Index CFDs – Trade 8 of the most popular indices, including the US30, UK100, and SPX500
- Cryptocurrencies – Trade on Bitcoin, Ethereum, Litecoin, and Ripple
- Commodities – Trade gold, silver and oil CFDs
See Eightcap’s Product Disclosure Statement (PDS) for more details.
Spreads & Commissions
Spreads are variable, starting at 1.0 pip for major forex pairs and 0.5 on major indices, such as the SPX500. Spreads for gold and silver start at 0 pips and 0.5 pips, respectively, whilst oil spreads are around 1.0 pip. Zero spreads are available on cryptocurrencies, such as Ripple, although spreads on Bitcoin can reach 30 pips. Average spreads for Australian company shares are around 1.0 pip.
Commissions are charged at $3.50 per standard lot on the Raw account and swap rates will apply for overnight forex trades.
Leverage
Leverage at Eightcap starts at 1:100 and goes up to a maximum of 1:500. Whilst generous rates, leveraged trading should be used with caution as it can seriously increase risk exposure, as well as potential profits.
Details of the margin call process can be found on the broker’s website.
Mobile App
Eightcap offers a mobile app for both the MT4 and MT5 platforms, which are available for iOS and Android devices. The app offers all the same features as the desktop platform, with the added benefit of 24/7 access from anywhere. Once you have your MT4 or MT5 login credentials, simply head to your App Store or Play Store to download the app.

Payment Methods
Deposits
Eightcap offers several fast payment options in 7 base currencies, all transacted through the Client Portal:
- Bank Wire – 1 – 3 business days. Check fees with bank
- Credit/debit card – Instant deposit. No fee
- China UnionPay – Instant deposit. No fee
- Skrill – 1 – 2 business days. No fee
- Neteller – Instant deposit. No fee
- BPAY – 1- 2 business days. No fee
- Poli – Instant deposit. No fee
Withdrawals
After completing a request form through the Client Portal, users can withdraw profits for free, using all of the methods above. The broker aims to process withdrawals within 24 business hours. Clearing times typically take 2 – 5 business days.
Demo Account
Eightcap offers a decent demo account which can be opened from the broker’s website. Users have access to unlimited virtual funds and the same trading conditions as a real-money account, including the same price feed.
Note that demo accounts last for 30 days by default, however, this can be extended upon request.
Bonuses & Promotions
Eightcap does not currently offer any deposit bonuses or promotions. However, keep an eye on the broker’s website in case new deals are made available. Make sure you check bonus terms and conditions before you start trading.
Regulation
To protect client interests, the company is independently regulated across two entities: Eightcap Pty Ltd is regulated by the Australian Securities and Investment Commission (ASIC) while Eightcap Global Ltd (Vanuatu) is regulated by the Vanuatu Financial Services Commission (VFSC). Furthermore, Eightcap is an Australian Financial Services Licensee (AFSL). Client funds are also segregated and held at Tier 1 banks, as per the Corporations Act.
Our opinion is that the broker isn’t a scam and their online services are legitimate.
Additional Features
Eightcap has a vast offering within their learning suite, helping new traders get an early head start or providing additional support to experienced traders. Useful features include CFD & forex news, market updates, MetaTrader setup guides, and guidance on strategies.
Account Types
Eightcap offers two account types:
- Standard – recommended for beginners
- Raw – recommended for experienced traders
Both account types require a minimum deposit of A$100, come with a minimum trade size of 0.01, and offer a maximum leverage of 1:500. Scalping and hedging are also allowed with both accounts.
The main difference between the two accounts is that the Standard account comes with zero commissions, where the Raw account charge is A$3.50 per standard lot. Also, the Standard account offers 5 base currencies vs the Raw’s 4.
Benefits
There are several good reasons to trade with Eightcap:
- Educational and trading tools
- ASIC and VFSC regulated
- MT4 and MT5 available
- Good customer reviews
- Fast customer support
- Free withdrawals
Drawbacks
Disadvantages of trading with Eightcap include:
- Limited time demo account
- No bonuses or promotions
- No binary options
Trading Hours
Users can trade forex 24 hours a day, 7 days a week. However, global foreign exchange trading hours vary by time zone. Based on AEST, Sydney opens at 7 am and closes at 4 pm, Tokyo opens at 9 am and closes at 6 pm, London opens at 5 pm and closes at 2 am, and New York opens at 10 pm and closes at 7 am.
Opening hours also vary across other markets with details available on the broker’s website.
Customer Support
Eightcap’s 24/5 multilingual support team can be contacted via:
- Telephone number – +61 3 8373 4800
- E-mail – customerservice@eightcap.com
- Live chat – the chat logo is located in the bottom right-hand corner of the website
Keep up to date with the latest news on Eightcap’s social media pages:
The broker’s headquarters office address is Level 6, 360 Collins Street, Melbourne, VIC 3000 Australia.
Trader Security
Data exchanges are encrypted between the platform and the client servers, using industry-standard 128-bit Secure Sockets Layer (SSL) encryption. Server authentication is also required upon accessing the MetaTrader platforms.
To ensure client data protection, Eightcap is fully compliant with the Privacy Act 1988, the Australian Privacy Principles (APPs), and the General Data Protection Regulation (GDPR).
Eightcap Verdict
Operating for over a decade and offering both the award-winning MT4 and MT5 platforms, Eightcap is a respected CFD and forex broker. With their competitive spreads, fast customer support and demo account offering, beginners and experts can begin trading with ease.
Accepted Countries
Eightcap accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Eightcap from United States, Syria.
FAQ
How much capital do I need to trade with Eightcap?
The minimum deposit amount is 100 AUD or currency equivalent. The minimum position size available is 0.01 lots.
What is the maximum leverage in Eightcap?
Eightcap offers maximum leverage of 1:500 across both accounts. Leveraged trading can increase possible returns, but also potential losses.
Does Eightcap offer a demo account?
Yes, a demo account can be set up from the main page on the website. Users will have access to unlimited virtual funds for 30 days and will enjoy identical trading conditions to a Live account.
How do I open a Live account with Eightcap?
Select ‘Create Account’ from the top right-hand corner of the broker’s website to register. You will be required to fill out a short form before going through 5 additional steps to personalise your account and verify your identity.
What can I trade on Eightcap?
Users can trade forex, indices, and commodities on the MT4 platform, and forex, indices, commodities, shares, and cryptos on the MT5 platform.