Eightcap Review 2023

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

Eightcap is good for traders familiar with MT4 and MT5 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.com Team

Eightcap is a forex and CFD broker founded in Australia in 2009. The brand is popular for its raw spreads on 1000+ instruments and advanced MetaTrader platforms. With 5 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.


Demo Account

Beginner Friendly

Award Winning
MT4, MT5, TradingView
Forex, CFDs, indices, shares, commodities, cryptocurrencies
Neteller, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer
and 8 more

Forex Trading

Trade 40+ major, minor and exotic pairs with an award winning platform. Users get institutional-level prices with spreads from 0.0 pips and no commissions.

Stocks Trading

Trade 500+ US, Australian, and European shares on MT5 or TradingView. Bet on rising and falling share prices while using leverage to bolster potential profits.

CFD Trading

Trade over 800 CFDs on popular indices, shares, forex, cryptos and commodities. Clients get premium liquidity and superior execution with servers in leading data centres. Skilling also offers more choice than most competitors in terms of platforms with MT4, MT5 and TradingView.

Crypto Trading

Eightcap offers over 100 crypto-backed derivatives, more than many rivals. Bitcoin spreads are also lower than most brokers coming in at 12, while the market scanner is a unique and powerful trading aid.


  • 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 including MetaTrader 4 and TradingView
  • Raw spreads from 0.0 pips and a competitive $3.5 per lot commission
  • Flexible and fee-free payment methods including cryptocurrencies
  • 100+ crypto derivatives, more than most brokers, including crypto crosses and indices
  • Strong trading education and analysis including forex guides and online webinars
  • Cryptocrusher market scanner with sentiment indicators, news and trading signals
  • AI-powered economic calendar with top-level insights, in partnership with Acuity

✗ Cons

  • Cryptocrusher platform not available for Australian clients
  • Not as many shares as other brokers
  • Only four commodities available

Eightcap is a global CFD and forex broker. Offering both the MT4 and MT5 platforms, as well as two competitive accounts, users can invest in over 1000 financial instruments with competitive trading conditions. This 2023 review can help you decide whether to open an Eightcap account, covering spreads, leverage plus the mobile app and demo account.

Eightcap Overview

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).

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

Trading Platforms

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’s an excellent all-around platform.

Features include:

Eightcap MT4 trading platform
MetaTrader 4

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
MetaTrader 5

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, investors 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.

Assets & Markets

Eightcap clients can trade on:

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

Spreads & Commissions

Spreads are variable, starting at 0 pips for major forex pairs (Raw Account) and 0.4 pips on major indices, such as the SPX500. For gold they start at 0.1 USD, silver at 0.01 USD, whilst oil spreads are 0.03 USD.

Cryptocurrencies have varying spreads from 0 USD for Bitcoin Cash and up to 31.2 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 and swap rates will apply for overnight forex trades.

Leverage Review

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.

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.

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.

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

Eightcap mobile trading app platform
Mobile App

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.


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 between 2 and 5 business days.

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

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.

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 trading services are legitimate.

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.

Eightcap learning and training

Trading Tools

Eightcap users also have the ability to automate their 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. Clients 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.

A few other tools are also provided to investors:

Eightcap also offers an 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.

Account Types

Eightcap offers two live accounts:

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, whereas the Raw account charge is A$3.50 per standard lot. They are both available in seven base currencies: AUD, USD, EUR, GBP, NZD, CAD, SGD.


There are several good reasons to invest 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. Cryptocurrencies can be invested in 24/7.

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 Eightcap PTY LTD 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. 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. With competitive spreads, reliable customer support and a free demo account offering, beginners and experts can begin trading with ease. Use the sign-up link below to get started with Eightcap today.

Accepted Countries

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

Payment Methods

Eightcap Details

Minimum Trade 0.01 lots
Regulated By ASIC, VFSC
Account Types
  • MAM
Islamic Account Yes
Mobile Apps iOS & Android
Margin Trading Yes
Volatility Index Yes
Spot Trading Yes
Perpetual Swaps No
AI / Machine Learning No
Robo Advisor No
P2P Trading No
Negative Balance Protection Yes
VPS Hosting Yes
Tournaments No
Demo Competitions No
Managed Accounts No
Market Maker No
Auto Trading Capitalise.ai & Expert Advisors
Social Trading No
Trade Signals Cryptocrusher – signals for cryptocurrencies
Inactivity Fee $0
Guaranteed Stop Loss No
Stock Exchanges
  • Australian Securities Exchange
  • CAC 40 Index France
  • DAX GER 40 Index
  • Dow Jones
  • Euronext
  • FTSE UK Index
  • Hang Seng
  • Hong Kong Stock Exchange
  • Japan Exchange Group
  • London Stock Exchange
  • Nasdaq
  • New York Stock Exchange
  • Gold
  • Oil
  • Silver

CFD Trading Details

FTSE Spread 1.2
GBPUSD Spread 1.0 but 0.0 on Raw Account
Oil Spread 0.03
Stocks Spread $0.02 per share, per side ($4 per lot round turn)
Leverage 1:30 – 1:500 depending on local regulation

Forex Trading Details

GBPUSD Spread 1.0 but 0.0 on Raw Account
EURUSD Spread 1.0 but 0.0 on Raw Account
EURGBP Spread 1.0 but 0.0 on Raw Account
Assets 40+

Cryptocurrency Trading Details

Crypto Spread From $0
Crypto Lending No
Crypto Staking No
Crypto Mining No
Crypto Auto Market Maker No
Crypto Coins
  • AAVE
  • ADA
  • ATOM
  • AXS
  • BCH
  • BNB
  • BSV
  • BTC
  • CAKE
  • DASH
  • DOGE
  • DOT
  • EOS
  • ETH
  • KSM
  • LINK
  • LTC
  • NEO
  • SHIB
  • SOL
  • TRX
  • UNI
  • VET
  • XLM
  • XRP
  • XRP

Compare Eightcap

Compare Eightcap with similar brokers that accept traders from your location. Among available brokers these are the most similar to Eightcap:

  1. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
    Go to IG Group
  2. Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they offer a huge range of 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
  3. Just2Trade – Just2Trade offer high-tech trading on stocks and options with some of the lowest prices in the industry.
    Go to Just2Trade

Eightcap Comparison Table

Compare Eightcap With Similar Brokers
Eightcap IG Group Forex.com Just2Trade
Rating 4.6 4.4 4.5 3.5
Markets Forex, CFDs, indices, shares, commodities, cryptocurrencies Forex, ETFs, CFDs, indices, shares, commodities, cryptocurrencies, options, futures, spread betting Forex, CFDs, Stocks, Indices, Commodities, Cryptos, Futures, Options Stocks, ADRs, ETFs, futures, options, commodities, bonds
Demo Account Yes Yes Yes Yes
Minimum Deposit £/€/$100 £250 $100 $100
Minimum Trade 0.01 lots 0.1 lots $1 0.01
Bonus Up to $2,000 for professional accounts
Education Yes Yes Yes No
Platforms MT4, MT5, TradingView MT4, AutoChartist, TradingCentral MT4, MT5, TradingView, AutoChartist, TradingCentral MT4, MT5, TradingCentral
Leverage 1:30 – 1:500 depending on local regulation 1:30 1:200 1:5 to 1:20
Payment Methods 13 6 8 20
Visit Visit Visit Visit
Review Eightcap
IG Group

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 Group Forex.com Just2Trade
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 No No
Silver Yes Yes Yes Yes
Corn No No No No
Crypto Yes Yes Yes Yes
Futures No Yes Yes Yes
Options No Yes Yes Yes
ETFs No Yes No Yes
Bonds No Yes No Yes
Warrants No Yes No 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.

Eightcap vs


How Much Capital Do I Need To Trade With Eightcap?

The minimum deposit amount is 100 AUD or currency equivalent. The minimum position size 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 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.

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.

What Does Eightcap Do?

Eightcap is an international forex and CFDs 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.

Eightcap is a forex and CFD broker founded in Australia in 2009. The brand is popular for its raw spreads on 1000+ instruments and advanced MetaTrader platforms. With 5 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.