Eightcap Review 2024

4.6 / 5
Eightcap is #8 in our CFD broker rankings.

Eightcap is great for day traders familiar with MT4 and MT5 and looking to trade forex and CFDs in a secure environment. The brand is also a great pick for crypto traders with 100+ derivatives, a sophisticated market scanner, plus Bitcoin and Tether deposits.

- Daytrading Review Team

Eightcap is a forex and CFD broker founded in Australia in 2009. The brand is popular with serious day traders for its raw spreads on 1000+ instruments and advanced MetaTrader platforms. With five global offices and ASIC regulation, Eightcap has built a strong reputation. New traders can also sign up for a live account in just a few minutes.

MT4, MT5, TradingView
CFDs, Forex, Stocks, Indices, Commodities, Crypto
Neteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal
Forex Trading

Eightcap offers 50+ major, minor and exotic pairs with institutional-level spreads from 0.0 pips and low commissions. The broker also offers top-tier forex research tools, with detailed metrics and indicators available for every symbol.

Stock Trading

You can trade 500+ US, Australian, and European shares with decent stock market research available in the Labs section. On the downside, fractional shares aren't offered which puts the broker behind top alternatives like ThinkMarkets.

CFD Trading

Eightcap offers over 800 CFDs on popular indices, shares, forex, cryptos and commodities. The firm also offers more choice than some competitors in terms of platforms with MT4, MT5 and TradingView, though this does depend on jurisdiction.

Crypto Trading

Eightcap offers almost 100 crypto CFDs - more than top rivals like IC Markets. Bitcoin spreads are also lower than most brokers coming in at 12. Additionally, the powerful Crypto Crusher market scanning tool is ideal for clients looking for real-time trade ideas.


  • Best Forex Broker 2023 - DayTrading.com
  • Best Cryptocurrency Broker 2023 - DayTrading.com
  • Best MT4/MT5 Broker 2022 - DayTrading.com
  • Best Global Forex MT4 Broker 2020 - Global Forex Awards

✓ Pros

  • Sophisticated platforms built for short-term strategies, including TradingView which offers 50 drawing tools and 12 chart types
  • Flexible and fee-free payment methods including cryptocurrencies
  • Raw spreads from 0.0 pips and a low $3.5 commission will appeal to active traders
  • 100+ crypto derivatives are available for global clients, which is more than most brokers, including crypto crosses and indices
  • Strong trading education and analysis including forex guides and online webinars
  • Crypto Crusher market scanner with sentiment indicators, news and short term trading signals for global clients
  • AI-powered economic calendar with top-level insights, in partnership with Acuity

✗ Cons

  • There are several frustrating jurisdictional restrictions - for example, the Crypto Crusher tool is not available for UK or Australian clients
  • There are only four commodities available, which may disappoint experienced day traders looking to diversify their portfolios
  • The demo account can only be extended upon request

Eightcap is an award-winning CFD and forex broker. Offering MetaQuotes and TradingView platforms, as well as two competitive accounts, users can invest in 800+ financial instruments with attractive trading conditions. Previous shortcomings, for example depth of commodity markets – have been improved recently.

This review can help you decide whether to open an Eightcap account, covering spreads, leverage plus the mobile app and demo account. Our experts also share their verdict after testing the broker and give you a head start on getting the most out of the trading tools.

Account Types

We appreciated Eightcap’s choice of accounts to suit traders of different experience levels and strategies:

Both accounts require a minimum deposit of A$100, which is accessible for the majority of traders and lower than alternatives like IC Markets ($200). They also 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, whereas the Raw account charge is A$3.50 per standard lot in return for tighter spreads.

They are both available in seven base currencies: AUD, USD, EUR, GBP, NZD, CAD, SGD. This is good news for global traders, making it easier for traders from Canada, for example, to manage their account and trading activity in their local currency.

How To Open An Eightcap Account

I have tested hundreds of brokers and I appreciated the straightforward sign-up process at Eightcap. It only took me a few minutes to register for an account.

I had to provide my name, country of residence, email address, and password. Then I could activate my account using the registration link sent to my email.

Once in the client dashboard you can choose your account settings, from account type and base currency to leverage and trading platform.

Eightcap registration form

Assets & Markets

3.8 / 5

We were impressed with the suite of instruments available at Eightcap. The selection of shares is particularly strong with blue chip stocks from leading US, UK, Australian and European firms.

The broker also offers more crypto trading opportunities than most rivals, including CMC Markets, which offers around 20 digital tokens.

TradingView is also available with Eightcap.

On the negative side, clients can’t directly buy and sell stocks – only CFDs on shares are available.

Clients can trade:

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

Spreads & Commissions

When we used Eightcap, we found that spreads were tight and variable, starting at 0 pips for major forex pairs (Raw Account) and 0.4 on major indices, such as the SPX500. For gold they start at 0.12 USD, whilst oil spreads are 0.03 USD.

Cryptocurrencies have varying spreads from 0 USD for Bitcoin Cash and up to 12 USD for Bitcoin. Shares have spreads of 0.02 USD per share, per side (4 USD per lot round turn).

Note that during trading hours with significant volatility some assets’ spreads tend to get higher. This is also true during less liquid periods.

Commissions are charged at 3.50 USD per standard lot on the Raw account, which is competitive ($7 for the “round trip”).

Swap rates also apply for overnight forex trades.

Spreads on popular Eightcap assets

Payment Methods


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

All payment methods except for bank wires are free of transaction charges. Eightcap also offers instant 24 hour deposit processing, except for wire transfers, BPAY and PayRetailers, which can take up to 3 days.

To prevent any delays, make sure to upload the relevant ID documents to your account before trying to fund your account.


I was pleased to find that after completing a request form through the Client Portal, you can withdraw profits for free, using all of the methods above.

Eightcap also aims to process withdrawals within 24-48 business hours. Clearing times typically take between 2 and 5 business days. These are similar timelines to other big names like XTB and Pepperstone.

Note that deposit and withdrawal limits are dependent on the payment method. Detailed information can be found in the Client Portal.


We have evaluated hundreds of brokers and Eightcap is relatively secure with good regulatory oversight.

To protect client interests, the company is independently regulated across multiple entities: Eightcap Pty Ltd is regulated by the Australian Securities and Investments Commission (ASIC) while Eightcap Global Ltd is regulated by the Securities Commission of Bahamas (SCB). Client funds are also segregated and held at Tier 1 banks, as per the Corporations Act.

UK/FCA regulated entity
Eightcap Group Ltd is FCA authorised and regulated and offers CFD trading on over 600 markets across forex, indices, commodities, and shares. Eightcap’s UK entity is the only dedicated, specialist TradingView broker in the UK, providing a tailored product experience to get the most out of trading via TradingView.

Our opinion is that the broker isn’t a scam and their online trading services are legitimate. With that said, traders registered with the SCB-regulated entity won’t get the same level of legal protection. This isn’t a hugely respected regulator like the ASIC or FCA.

Trading Platforms

The suite of trading platforms available at Eightcap is a standout feature for us. As well as the world’s most popular retail trading solutions, MetaTrader 4 and MetaTrader 5, users can automate strategies through the Capitalise.ai software.

This means clients can find a platform that suits their trading style and strategy, such as scalping.

MetaTrader 4

The award-winning MT4 platform facilitates online investing in forex, indices, and commodities. With its user-friendly interface, automated trading capabilities, and comprehensive charting package, it is an excellent all-around platform. After testing, we recommend beginners download this platform.

Our favorite features include:

MT4 is available to download on Windows, macOS, and Linux PCs.

MetaTrader 5

MT5 is a more advanced platform offering trading in forex, indices, shares, commodities, and cryptocurrencies. We have pulled out some of the best functionality:

Eightcap MetaTrader 5 platform interface

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 has the same range of features as the desktop download.

It is a quick and hassle-free way to get connected to the financial markets.


Eightcap has a popular automated trading tool that lets clients program 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 straightforward to build automated trading strategies for beginners. With no coding skills required, you can develop simple and complex algorithms free of charge.

We also rated that Capitalise.ai 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.

Mobile App

Eightcap offers a mobile app for both the MT4 and MT5 platforms, which are available on iOS and Android devices. The applications offer all the same features as the desktop platform, with the added benefit of 24/7 access from anywhere.

Our only criticism is that trading from charts and overlaying indicators is a struggle on smaller screens, so it works best as a supplementary tool.

Once you have your MT4 or MT5 login credentials, simply head to the Apple App Store or Google Play to download the trading app.


Maximum leverage at Eightcap Pty Ltd is 1:30. Maximum leverage for clients trading with Eightcap Global Ltd is 1:500. This is line with regulatory restrictions and is the same at other reputable brokers.

Details of the margin call process can be found on the broker’s website. Clients can also amend their leverage limits by contacting the broker’s support team. We recommend beginners and those with a low risk appetite consider this.

Demo Account

Eightcap offers a free demo account that can be opened from the broker’s website. Users have access to 5,000,000 in virtual funds and the same trading conditions as a real-money account, including the same price feed.

On the negative side, demo accounts last for 30 days by default, though this can be extended upon request. This is important as we like to be able to continuously test and refine strategies alongside real-money trading.

Eightcap simulator account details

How To Open A Demo Account

I appreciated the fast account opening process at Eightcap. You can sign up for a simulator account and start trading in less than 10 minutes.

  1. Navigate to the broker’s website
  2. Register for a demo account
  3. Provide your basic contact details
  4. Choose a platform and currency
  5. Click ‘Open Demo’

Bonuses & Promotions

Eightcap does not currently offer any deposit bonuses or promotions. This might deter some traders but it aligns with regulatory conditions.

We also never recommend selecting a broker just based on a welcome bonus or other incentive. Account requirements and trading conditions are more important considerations.

If you do choose to trade with a bonus, make sure you check terms and conditions before you start trading.

Additional Features

Eightcap’s mission is to build a home for MT4 and MT5 traders. The broker offers an in-depth education suite to help both new and experienced investors. Included in this are regular market updates, insights into the trading week ahead, live webinars, CFD and forex investing tips, MetaTrader tutorials and strategy guidance.

Overall, Eightcap beats most brokers in terms of its extra tools and services, making it a good pick for both beginners and seasoned traders.

Trading Tools

A highlight for us is the ability to automate trades without any coding knowledge. With the use of capitalise.ai, investors have access to automation and analytic tools, including backtesting, loop strategies, smart notifications, and much more.

The online broker has also partnered with TradingView to offer powerful charts and tools. TradingView is a top-rated charting solution with 100 built-in indicators, 5,000+ investor-created indicators, plus 50 drawing tools. You can enter and exit positions directly from TradingView’s charts with their Eightcap account.

As well as powerful analysis features, TradingView is one of the world’s biggest social investing networks. With more than 30 million monthly users and active social media forums, investors can swap ideas and discuss strategies and markets.

Our team found a few other useful tools:

Another feature worth calling out is the AI-enabled economic calendar. The intuitive tool can help traders identity opportunities across 1000+ macroeconomic events in 100+ countries.

The calendar also categorizes events to show traders if they will have a high, medium or low impact. In addition, it offers insights into why an event will impact the market and how quickly it will have an impact.

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. Cryptocurrencies can be invested in 24/7.

Opening hours also vary across other markets with details available on the broker’s website.

Customer Support

4 / 5

Our team found the customer service team easily contactable and responsive. When we tested the live chat, we got through to an agent in less than 1 minute, which is faster than most forex and CFD brokers.

Eightcap’s 24/5 multilingual support team can be contacted via:

You can also keep up to date with the latest news on Eightcap’s social media pages:

The Eightcap PTY LTD headquarters office address is Level 6, 360 Collins Street, Melbourne, VIC 3000 Australia.

Company Details & History

Eightcap was founded in 2009 and is based in Melbourne, Australia.

The company’s CEO is Joel Murphy and the firm is regulated by the Australian Securities and Investment Commission (ASIC), plus the Securities Commission of The Bahamas (SCB).

In 2023, the brand also became regulated by the Financial Conduct Authority in the UK.

Eightcap has offices worldwide with a large multilingual client support team based in the UK and Sofia, Bulgaria – amongst others.

Ultrafast execution is available with zero-pip spreads, as well as access to top-tier liquidity. The brokerage also offers fee-free deposits and payments via popular eWallets in addition to wire transfers and debit cards.

Trader Security

We are comfortable that Eightcap employs industry-standard measures to provide a relatively secure trading environment.

Data exchanges are encrypted between the platform and the client servers, using 128-bit Secure Sockets Layer (SSL) encryption. Server authentication is also required upon accessing the MetaTrader platforms. Two-factor authentication (2FA) can be added to both the MT4 and MT5 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. In particular, we rated the competitive spreads, reliable customer support and free demo account offering, meaning beginners and experts can begin trading with ease.


Is Eightcap Trustworthy?

Our experts consider Eightcap a trustworthy broker. The company is authorized by a tier-one regulator – the Australian Securities & Investments Commission (ASIC). The broker also has strong account security measures, including negative balance protection and segregated client accounts.

Is Eightcap Good For Day Trading?

Eightcap is an excellent broker for active day traders. We recommend the Raw account with ultra-tight spreads and low commissions to keep costs down. The MetaTrader 5 platform is a good option for technical day traders looking for fast processing speeds. Alternatively, Capitalise.ai can be used to automate day trading strategies with limited coding know-how.

Does Eightcap Offer A Low Minimum Deposit?

The minimum deposit amount is 100 AUD or currency equivalent. We consider anything less than $500 low so Eightcap will serve beginners. The minimum position size is also accessible at 0.01 lots.

Does Eightcap Offer High Leverage?

Eightcap offers maximum leverage of 1:500 across both accounts (1:30 in regulated markets). Leveraged trading can increase potential 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 5,000,000 worth of virtual funds (available in several currencies) for 30 days and can enjoy identical trading conditions to a live account. Our team found that you can also extend the demo account by contacting the broker’s support team.

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 five additional steps to personalize your account and verify your identity. You can also use our registration button to open an account.

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. In total, over 1000 assets are available, which is more than many rival brokers.

What Does Eightcap Do?

Eightcap is an international forex and CFD broker. It offers the MT4 and MT5 platforms alongside a WebTrader solution and a popular automated trading terminal. The company also offers spreads from zero pips, a crypto signals service plus integration with TradingView.

Top 3 Alternatives to Eightcap

Compare Eightcap with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
    Go to Interactive Brokers
  3. Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they provide a huge range of day trading markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
    Go to Forex.com

Eightcap Comparison Table

Compare Eightcap With Similar Brokers
Eightcap IG Interactive Brokers Forex.com
Rating 4.6 4.4 4.3 4.5
Markets CFDs, Forex, Stocks, Indices, Commodities, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Forex, Spot Metals
Demo Account Yes Yes Yes Yes
Minimum Deposit $100 $0 $0 $100
Minimum Trade 0.01 Lots 0.01 Lots $100 0.01 Lots
Bonus Active Trader Program With A 15% Reduction In Costs
Education Yes Yes Yes Yes
Platforms MT4, MT5, TradingView Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Trader Workstation (TWS), Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Leverage 1:500 1:30 (Retail), 1:250 (Pro) 1:50 1:50
Payment Methods 11 6 6 8
Visit Visit Visit Visit
Review IG
Interactive Brokers

Compare Trading Instruments

Compare the markets and instruments offered by Eightcap and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Eightcap Trading Instruments
Eightcap IG Interactive Brokers Forex.com
CFD Yes Yes Yes No
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes No Yes
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver Yes Yes No Yes
Corn No No No No
Crypto Yes Yes Yes No
Futures No Yes Yes No
Options No Yes Yes Yes
ETFs No Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index Yes Yes No No

Eightcap vs Other Brokers

Compare Eightcap with any other broker by selecting the other broker below.


Customer Reviews

  3.5 / 5

This average customer rating is based on 2 Eightcap customer reviews submitted by our visitors.

If you have traded with Eightcap we would really like to know about your experience - please submit your own review. Thank you.


I use Eightcap for day trading it’s pretty good. I would pick the Raw account and the MT5 platform though – you get better spreads and faster trading in my experience. I’d score it higher if the demo account didn’t expire and there were more commodity CFDs.

✍ Daniel Edwards | 🌐 Ireland | November 27, 2023

I’ve been using Eightcap to trade cryptos for a few months now and been impressed with the massive suite of products, below average Bitcoin spreads and reliable platforms. Educational tools could be better but I will carry on using Eightcap.

✍ Mason D | 🌐 New Zealand | November 16, 2023

Submit Your Own Review of Eightcap

If you have experience trading with Eightcap please share your personal review of the broker and what you think are strong and weak points. Thank you.

Eightcap is a forex and CFD broker founded in Australia in 2009. The brand is popular with serious day traders for its raw spreads on 1000+ instruments and advanced MetaTrader platforms. With five global offices and ASIC regulation, Eightcap has built a strong reputation. New traders can also sign up for a live account in just a few minutes.

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com