Eightcap Review 2024

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Christian Harris
Christian is a seasoned journalist with decades of experience. He transitioned from tech journalism to finance to follow his interest in investing. He has been trading stocks, futures, forex, and cryptocurrencies for more than 5 years, becoming an eToro Popular Investor. With hands-on expertise across various assets, he offers valuable trading insights.
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Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.

4.6 / 5
Eightcap is #7 in our CFD broker rankings.

Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row.

- Christian Harris, Reviewer

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

Trading App

Eightcap supports the MT4, MT5 and TradingView apps, catering to mobile traders looking for advanced charting tools. While we don’t love the increasingly outdated design of the MetaTrader suite, its dozens of technical indicators and drawing tools, multiple charting styles, and straightforward overlays in horizontal mode are excellent. The push notifications and active social network on the TradingView app are also valuable additions for aspiring traders and Eightcap has published helpful videos on connecting TradingView accounts to iOS and Android devices.

iOS App Rating
Android App Rating

Forex Trading

Eightcap offers 50+ currency pairs in line with the industry average but trailing category leaders like CMC Markets with its 300+ currency pairs. However, Eightcap stands out with institutional-level spreads from 0.0 pips on major pairs like the EUR/USD, alongside low $3.50/side commissions. The broker also offers rich forex data to inform trading decisions, including key fundamentals, bullish/bearish indicators and a calendar that tracks key events in the foreign exchange market.

Stock Trading

Eightcap offers 650+ US, Australian, and European shares as well as a modest range of indices, including the Dow Jones and FTSE. Its Labs offer excellent educational tools, notably the ‘Navigating Stock Market Volatility’ guide, while Capitalise.ai lets you automate stock trading strategies in plain English. On the downside, Eightcap still doesn’t offer fractional shares for budget traders, which are available at brokers like XTB.

CFD Trading

Eightcap offers a wide range of trading options with 800+ CFDs across stocks, indices, bonds, commodities, and cryptocurrencies (depending on location), with leverage up to 1:30/1:500. It excels in its tools, notably the AI-enabled economic calendar covering 25+ countries with impact filters (high, medium, low). However, its commodities offering, particularly in softs like cotton and wheat, as well as the limited precious metal and energy assets, is its weakest area.

Crypto Trading

Eightcap’s crypto offering is best-in-class with 250+ crypto derivatives, surpassing that of almost every alternative. Testing also reveals Bitcoin spreads of 12 pips, coming in lower than most competitors, while it offers real-time trading ideas through the Crypto Crusher market scanner. Add in convenient deposits and withdrawals in digital currencies, and Eightcap offers the complete package for serious crypto traders.


  • Best Overall Broker 2024 - DayTrading.com
  • Best Cryptocurrency Broker 2024 - DayTrading.com
  • Best Forex Broker 2023 - DayTrading.com
  • Best Cryptocurrency Broker 2023 - DayTrading.com
  • Best MT4/MT5 Broker 2022 - DayTrading.com
  • Best Customer Service Broker 2021 - Global Brands Magazine
  • Best Global Forex MT4 Broker 2020 - Global Forex Awards

✓ Pros

  • Having excelled across all key areas for day traders, Eightcap outperformed more than 490 competitors to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
  • With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.
  • After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
  • Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.

✗ Cons

  • In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
  • Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
  • The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
  • Despite a useful library of educational guides and e-books, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.

This Eightcap review will explore how the firm positions itself in the landscape of online day trading, drawing on years of first-hand tests and comparisons with our 500-strong database of brokers.

Regulation & Trust

4.3 / 5

Eightcap is trusted with authorization from three ‘Green-Tier’ regulators, 15+ years of experience in the industry, and an excellent reputation. Client funds are also safeguarded through segregation in Tier-1 banks, in line with the Corporations Act.

Traders who are serviced by the SCB-regulated arm of Eightcap may not benefit from the same level of legal safeguards as those regulated by more renowned bodies like the FCA or CySEC, with higher leverage and no access to investor protection.

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Christian Harris
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Eightcap Pepperstone Vantage
Regulation & Trust Rating
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Accounts & Banking

4 / 5

Live Accounts

Eightcap presents a range of account options designed to cater to traders of various experience levels and strategies:

Both accounts at Eightcap come with a minimum deposit of $100, rendering them accessible to a wide range of traders and presenting a more budget-friendly entry point compared to brokers like IC Markets, which demands a $200 deposit. Each account also supports trade sizes ranging from 0.01 to 100 lots.

The primary disparity between the two account types lies in their cost structures: the Standard account operates without commissions, whereas the RAW account entails a commission of $3.50 per standard lot, offsetting its tighter spreads.

Available in seven base currencies – AUD, USD, EUR, GBP, NZD, CAD, SGD – these account options prove particularly advantageous for international traders, simplifying the management of accounts and trading activities in respective local currencies.

Unfortunately, my sign-up experience with Eightcap was frustrating. While registering for an account was a swift process requiring just a few minutes and completion of a CFD suitability questionnaire, getting my account authorized for trading took 2 days.

In fact, I encountered a setback initially when my first attempt to open a live account was rejected without explanation.

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Christian Harris

Demo Accounts

Eightcap offers a complimentary demo account, equipped with $5,000,000 in virtual currency and mirroring the trading conditions of a live account, including identical price feeds.

One drawback, however, is that demo accounts are initially valid for only 30 days, although extensions can be requested. This feature proves invaluable for traders like myself who continuously strive to test and refine their trading strategies alongside live trading.

Deposits & Withdrawals

Eightcap offers a diverse array of swift payment methods, including Visa, Mastercard, PayPal, Wire Transfer, BPay, Skrill, and Neteller.

Most of these payment options, excluding bank wires, incur no transaction fees. I’ve also found that Eightcap ensures instant deposit processing 24/7 for all methods except bank wire transfers, which, based on my own experience, take up to 3 days.

Upload all necessary identification documents to your Eightcap account beforehand to avoid any potential delays.

Submitting a withdrawal request form via the account area allows for cost-free profit withdrawals, utilizing all aforementioned methods. However, it’s important to note that bank wire transfers may be subject to fees beyond the broker’s control.

Eightcap aims to process withdrawal requests within 24-48 business hours, with funds typically clearing within 2-5 business days. This timeframe aligns with industry standards observed by other major brokers, such as XTB and Pepperstone.

Comparison of similar brokers 2024
Eightcap Pepperstone Vantage
Accounts & Banking Rating
Payment Methods Bitcoin Payments, BPAY, Credit Card, Debit Card, Dragonpay, FasaPay, Neteller, PayPal, PIX Payment, Skrill, UnionPay, Visa, Wire Transfer BPAY, Credit Card, Debit Card, Mastercard, Neteller, PayPal, POLi, Skrill, UnionPay, Visa, Wire Transfer AstroPay, BPAY, Credit Card, Debit Card, FasaPay, JCB Card, Neteller, Skrill, Swift, UnionPay, Visa, Wire Transfer
Minimum Deposit $100 $0 $50
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Review Review Review Review

Assets & Markets

3.6 / 5

The selection of 1,000+ trading instruments offered by Eightcap is strong, though it trails category leaders Blackbull Markets (26,000+) and IG (17.000+).

Particularly impressive is their suite of stock CFDs, which encompasses a wide array of blue-chip companies hailing from the US, UK, Australia, and Europe.

What really sets Eightcap apart though, is its extensive range of opportunities for cryptocurrency day trading. While comparing with platforms like CMC Markets, which typically offers around 20 digital tokens, Eightcap’s 200+ assets stand out.

However, it’s important to note a limitation: you cannot directly purchase and sell real stocks or cryptocurrencies through Eightcap; rather, you can only engage in speculative trading on prices using CFDs.

Available trading options include:

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Eightcap Pepperstone Vantage
Assets & Markets Rating
Trading Instruments CFDs, Forex, Stocks, Indices, Commodities CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
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Review Review Review Review


Eightcap extends maximum leverage of 1:30 for Australian and EU clients and 1:500 for those registered under Eightcap Global Ltd.

Margin call levels are 80% and stop-out levels are 50%.

I discovered that I had the flexibility to adjust my leverage levels by contacting Eightcap’s support team directly. This option may be particularly relevant for beginners or individuals who prefer to trade with lower risk levels.

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Christian Harris

Fees & Costs

3.8 / 5

Eightcap’s pricing is competitive but trails the cheapest brokers, notably IC Markets.

In the RAW account, spreads start as low as 0 pips for major forex pairs, with indices like the SPX500 starting at 0.4 and gold at 0.12. Oil spreads commence at 0.03.

For cryptocurrencies, spreads vary from 0.0 for Bitcoin Cash to 12 pips for Bitcoin. Stock trading features spreads of 0.02 per share, per side, translating to $4 per lot for a complete round-trip trade.

It’s important to note that spreads may widen during times of heightened market volatility or reduced liquidity.

The RAW account entails a competitive commission of $3.50 per standard lot, totaling $7 for a round-trip trade. Additionally, overnight forex trades incur swap rates.

Typically, Eightcap does not levy fees for deposits, although withdrawal costs can vary depending on the chosen method. Withdrawals via bank wire, for example, may incur charges per transaction.

In contrast to platforms like eToro or Interactive Brokers, Eightcap does not offer interest payments on cash balances. Nevertheless, it compensates with low overnight fees and the absence of a monthly inactivity charge.

Comparison of similar brokers 2024
Eightcap Pepperstone Vantage
Fees & Costs Rating
EUR/USD Spread 0.0 0.1 0.0
FTSE Spread 1.2 1.0 1.0
Oil Spread 0.03 2.5 0.01
Stock Spread 0.03 (Apple Inc) 0.02 0.01
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Platforms & Tools

4.3 / 5

Desktop Platforms

The broker provides access to three trading platforms: MetaTrader 4, MetaTrader 5, and TradingView. I was disappointed that the cTrader platform is not available, especially as I like to copy the strategies of experienced trades, but this is a minor complaint.

One standout feature, though, is the availability of the WebTrader version of MT5, accessible directly from Eightcap’s website. This platform offers the same extensive features as the desktop version, allowing for hassle-free market access without the need for desktop software installation.

MT5 webtrader at Eightcap showing GPBUSD chart
Eightcap – MT5 WebTrader

Additionally, the brokerage partnered with TradingView in 2022, granting access to sophisticated charting tools and features. In my view, TradingView stands out as the premier charting platform, offering over 100 pre-installed indicators, over 5,000 indicators created by its user community, and more than 50 drawing tools.

TradingView also distinguishes itself with robust analysis capabilities and serves as one of the largest social investing networks globally, with millions of serious traders, making it an excellent addition to Eightcap’s suite of trading tools.

Advanced traders will appreciate MetaTrader’s sophisticated capabilities, such as automated trading, comprehensive charting options, and flexible order types, but I prefer the ability to trade within TradingView due to its more intuitive interface that is also accessible to beginners.

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Christian Harris

Mobile Apps

Eightcap also offers mobile applications for MT4, MT5 and TradingView platforms, compatible with iOS and Android devices.

These applications replicate the functionalities of their desktop counterparts, providing round-the-clock access from anywhere.

However, one drawback I encountered testing the mobile applications was the challenge of trading directly from charts and applying indicators on smaller screens, making the apps more suitable as supplementary tools than primary trading platforms.

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Eightcap Pepperstone Vantage
Platforms & Tools Rating
Platforms MT4, MT5, TradingView MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade ProTrader, MT4, MT5, TradingView, DupliTrade
Mobile App iOS & Android iOS & Android iOS & Android
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3.5 / 5

When comparing research capabilities with those of category leaders, notably Interactive Brokers, Eightcap’s offerings do not necessarily stand out. Integrating additional research resources such as third-party tools and content like Autochartist and Trading Central could bolster Eightcap’s position in the research category.

That said, one standout feature that I particularly appreciate is the ability to automate trading without the need for coding knowledge, courtesy of Capitalise.ai, which Eightcap introduced in 2021.

This tool simplifies the creation of trading instructions using plain English, making automated trading accessible even to beginners without coding experience.

The intuitive dashboard and guided instructions streamline the process, enabling the development of strategies ranging from simple to complex, all at no cost.

Furthermore, Capitalise.ai provides a diverse selection of pre-programmed strategies for risk-free testing or customization before going live.

Capitalise.ai tool at Eightcap, showing backtest for AAL buy order
Eightcap – Capitalise.ai

There are also a few other valuable tools, such as Crypto Crusher (a crypto signals service), Amazing Trader (a charting algorithm), and Forex VPS (ideal for high-frequency, automated trading).

Furthermore, I’ve found the AI-powered economic calendar, which Eightcap introduced in 2023, to be particularly helpful. This intuitive tool assists in identifying potential opportunities across more than 1,000 macroeconomic events in over 100 countries.

The calendar categorizes events based on their expected impact level—high, medium, or low—providing insights into the potential market influence of each event and the speed at which it might occur.

Comparison of similar brokers 2024
Eightcap Pepperstone Vantage
Research Rating
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3 / 5

The education tools at Eightcap, known as ‘Labs’, present a reasonable assortment of resources. These include articles and guides covering trading basics and strategies for CFDs and forex.

Yet while I’ve found these materials to be well-written and suitable for both beginners and experienced traders, the variety of the content doesn’t quite meet my expectations compared to what’s available on platforms like XTB. Nevertheless, I did find some value in articles that provided practical short-term strategies linked to various technical indicators and specific assets.

Still, what’s disappointing following tests over the years, is that the e-Books section in the Labs area is still empty. Additionally, there are limited helpful guides available for using the MetaTrader and TradingView platforms, nor are there any interactive courses that you can select based on your experience level.

YouTube webinars at Eightcap
Eightcap – YouTube Webinars

On a positive note, the broker does offer occasional live YouTube webinars, which I’ve found to be quite beneficial. These webinars provide previews of significant trading events for the upcoming week, which may assist beginner traders in identifying potential opportunities.

Comparison of similar brokers 2024
Eightcap Pepperstone Vantage
Education Rating
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Customer Support

4 / 5

Eightcap provides customer support 24 hours a day, 5 days a week, accessible via phone, live chat, and email in 9 different languages.

I’ve found that reaching out to their customer service team is a straightforward process, and their responses are prompt. Specifically, when using the live chat feature, I’ve been connected with an agent in less than a minute, surpassing the response times of many forex and CFD brokers.

However, while I’ve found that live chat support is efficient for general inquiries, it isn’t suitable for account-related issues such as changing leverage, which required me sending an email.

In case of urgent matters, local phone numbers are available on the broker’s website. Alternatively, clients can reach out to their account manager for assistance.

Throughout my time using Eightcap, I’ve benefited from the support of a dedicated account manager, a service not commonly found among most CFD brokers. This direct line of communication has significantly enhanced my overall experience by providing personalized assistance.

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Christian Harris
Comparison of similar brokers 2024
Eightcap Pepperstone Vantage
Customer Support Rating
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Should You Trade With Eightcap?

Eightcap sets itself apart not only as a MetaTrader broker but also by granting access to the highly acclaimed TradingView platform and the award-winning algorithmic trading platform from Capitalise.ai, alongside a growing range of other third-party tools. Eightcap’s cryptocurrency options are also among the best in the industry.

On the downside, there is a relatively limited selection of overall market instruments, notably commodities, coupled with the absence of exceptional educational resources and sparse research materials.

Overall though, Eightcap remains a premier broker for day trading, consistently delivering in key areas and making enhancements to its offering year after year.


Is Eightcap Legit Or A Scam?

Eightcap is a legitimate forex and CFD broker. It operates under strict regulatory oversight from reputable financial authorities, notably the FCA and ASIC, and adheres to high standards of customer protection and financial security, such as segregating client funds in top-tier banks. Additionally, Eightcap offers a transparent day trading environment.

Is Eightcap A Regulated Broker?

Eightcap is a regulated broker. It operates under the regulatory oversight of several financial authorities; FCA, ASIC, CySEC and SCB, ensuring compliance with financial laws and standards.

Is Eightcap Suitable For Beginners?

Eightcap is well-suited for beginners due to its user-friendly trading platforms like TradingView, free demo account, and superb customer support, to assist new traders in navigating the trading environment.

Does Eightcap Offer Low Fees?

Eightcap has a competitive fee structure, offering tight spreads starting from 0 pips on major forex pairs with the RAW account and low commission fees of $3.50 per standard lot per side for forex trades.

The broker also avoids major non-trading fees, with no account maintenance charges and generally free deposits and withdrawals, though swap rates apply for overnight positions.

Is Eightcap A Good Broker For Day Trading?

Eightcap is an excellent broker for day trading, earning our ‘Best Overall Broker’ award in 2024. With leverage up to 1:500 for certain clients, advanced trading platforms like MT5 and TradingView, and fast execution speeds, it caters well to the quick, high-volume trading style of day traders.

Does Eightcap Have A Mobile App?

Eightcap doesn’t offer its own proprietary trading platform, so you’ll have to use the mobile versions of one of the supported third-party charting tools: MT4/MT5 and TradingView, all of which are available for iOS and Android devices.

Top 3 Alternatives to Eightcap

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

  1. Pepperstone – Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
    Go to Pepperstone
  2. Vantage – Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
    Go to Vantage
  3. IC Markets – IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
    Go to IC Markets

Eightcap Comparison Table

Compare Eightcap With Similar Brokers
Eightcap Pepperstone Vantage IC Markets
Rating 4.6 4.8 4.7 4.8
Markets CFDs, Forex, Stocks, Indices, Commodities CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
Demo Account Yes Yes Yes Yes
Minimum Deposit $100 $0 $50 $200
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Bonus 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
Education Yes Yes Yes Yes
Platforms MT4, MT5, TradingView MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade ProTrader, MT4, MT5, TradingView, DupliTrade MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
Leverage 1:30 (Retail), 1:500 (Pro) 1:500 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
Payment Methods 13 11 12 14
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Review Pepperstone
IC Markets

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 Pepperstone Vantage IC Markets
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No Yes Yes No
Silver Yes Yes Yes Yes
Corn No Yes No Yes
Crypto Yes Yes Yes Yes
Futures No No No Yes
Options No No No No
ETFs No Yes Yes Yes
Bonds No No Yes Yes
Warrants No No No No
Spreadbetting No Yes Yes No
Volatility Index Yes Yes Yes Yes

Eightcap vs Other Brokers

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


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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.

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