Eightcap Review 2021

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Eightcap Facts & Figures

Eightcap is a multi-regulated FX & CFD broker offering the MT4 & MT5 platforms. Award winning platform, zero commission, free education and low spreads.

InstrumentsForex, CFDs, indices, shares, commodities, cryptocurrencies
Demo AccountYes
Min. Deposit£/€/$100
Payment MethodsCredit Card, Debit Card, Neteller, POLi, Skrill, UnionPay, Visa
Min. Trade0.01 lots
Regulated ByASIC, VFSC
MetaTrader 4Yes
MetaTrader 5Yes
STP AccountNo
ECN AccountYes
DMA AccountNo
Mobile AppsYes
Margin TradingYes
Auto TradingYes - Capitalise.ai
Social TradingNo
Copy TradingNo
Trade SignalsNo
Islamic AccountNo
Trade CFDs on popular indices, shares, forex, crypto & commodities. Award winning platform, zero commission, free education and low spreads.
FTSE Spread1.2
GBPUSD Spread1.0 but 0.0 on Raw Account
Oil Spread1.0
Stocks Spread1.0

Trade on 40+ of major, minor & exotic pairs with an award winning platform. Zero commission, free education and low spreads.

GBPUSD Spread1.0 but 0.0 on Raw Account
EURUSD Spread1.0 but 0.0 on Raw Account
EURGBP Spread1.0 but 0.0 on Raw Account

Trade CFDs on Bitcoin, major altcoins, cross pairs and indices. Eightcap now deliver over 250 crypto backed derivatives, putting them among the market leaders of traditional brokers.

SpreadFrom 0.0 pips
Risk Warning – Your capital is at risk

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 250 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 has rapidly grown and has offices worldwide with a large multilingual client support team based in the UK, Bulgaria, China and Thailand, amongst 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:

Eightcap MT4 trading platform
Eightcap MT4 platform

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:

Eightcap MT5 forex platform
Eightcap MT5 platform

MT5 is available to download on Windows, macOS, and Linux PCs.


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.


Eightcap has launched an exciting automated trading tool that lets clients programme instructions using plain English, for example, buy $1,000 GBP/USD on Tuesday at 15:30 EST. With a slick dashboard and assisted instructions, it’s never been easier to build automated trading strategies for beginners. With no coding skills required, traders can develop simple and complex algorithms free of charge.

Capitalise.ai also offers an extensive list of pre-programmed strategies which clients can test risk-free or tweak to their preferences before pushing live. Check out the video below for more details.


Eightcap clients can trade on:

See Eightcap’s Product Disclosure Statement (PDS) for more details.

Spreads & Commissions

Spreads are variable, starting at 0 pip for major forex pairs (Raw Account) and 0.5 on major indices, such as the SPX500.

Spreads for gold and silver start at 1.0 pips and 0.5 pips, respectively, whilst oil spreads are around 1.0 pip.

Please bear in mind that cryptocurrencies are very volatile instruments, sometimes the spread on BTC is 20 pips, or even less. Recently it reached 30 pips.

During trade hours with extremely high volatility the spreads tend to get higher or during less liquid day periods (as the roll over to the new day).

Commissions are charged at $3.50 per standard lot on the Raw account and swap rates will apply for overnight forex trades.


Maximum leverage at Eightcap Pty Ltd is 1:30. Maximum leverage for clients trading with Eightcap Global Ltd is 1:500.

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.

Eightcap mobile trading app platform
Eightcap mobile trading

Payment Methods


Eightcap offers several fast payment options in 7 base currencies, all transacted through the Client Portal:


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.


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’s mission is to build a home for MT4 and MT5 traders. The broker offers an exceptional education suite to help both new and experienced traders.

Included in this are regular market updates, a trading week ahead, CFD and Forex insights, MetaTrader guides and trading strategy guidance.

Trading Tools: Eightcap users will also have the abilty to automate their trades without the any coding knowledge. With the use of capitalise.ai, Eightcap users will have access to automation and analytic tools, including backtesting, loop strategies, smart notifications, and much more

Account Types

Eightcap offers two account types:

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 1:30 for Australian clients and 1:500 for non-Australian clients.

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.


There are several good reasons to trade with Eightcap:


Disadvantages of trading with Eightcap include:

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:

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 cannot accept traders from certain jurisdictions including the US, New Zealand and Japan.

Alternatives to Eightcap

If you are looking for alternatives to Eightcap we have compiled a list of the top 5 brokers that are similar to Eightcap below. This list of brokers like Eightcap is in order of similarity and only includes companies that accept traders from your location.

  1. Exinity – Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
  2. EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
  3. Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
  4. Rockfort Markets – Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.
  5. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.


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. (1:30 in regulated markets). 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.

Eightcap is a multi-regulated FX & CFD broker offering the MT4 & MT5 platforms. Award winning platform, zero commission, free education and low spreads.

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