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Eightcap Review 2021

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Eightcap Main Features
☑️
Regulations
ASIC (Australia), VFSC (Vanuatu)
️🗺
Supported Languages
English, Spanish, German, French, Arabic, Portuguese, Chinese, Italian, Indonesian, Vietnamese, Thai
💰
Products
Crypto, Currencies, Commodities, CFDs, Indices, Stocks
️💵
Min Deposit
$100
💹
Max Leverage
1:500 (ASIC), 1:500 (VFSC)
🖥
Trading Desk Type
Market Maker
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Eightcap Full Review

“Eightcap is authorised and regulated by the Australian Securities and Investments Commissions and the Vanuatu Financial Services Commission. The broker offers clients the ability to access more than 200+ financial CFD instruments covering Forex, Indices, Commodities, Shares and Cryptocurrencies through the MetaTrader 4 and MetaTrader 5 trading platforms.”

Eightcap Pty Ltd was founded in 2009 in Australia. The broker is authorised and regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).

The broker offers clients the ability to trade on more than 300+ financial CFD instruments covering Forex, Indices, Commodities, Shares and Cryptocurrencies through the MetaTrader 4 and MetaTrader 5 trading platforms for Web (MT5 only), PC, MAC and Mobile.

Clients can choose from two main account types, Standard and Raw. Standard accounts offer commission-free trading but with slightly larger spreads, whereas Raw accounts are commission-based but have raw spreads from 0 pips. Demo accounts are also available.

Deposits and withdrawals are fee-free and include popular methods such as debit/credit card, bank wire, PayPal, Poli Payment, BPay, China UnionPay, Skrill and Neteller. Additionally, the broker offers multilingual customer support 24/5 via phone, email and live chat. There is also a comprehensive FAQ section covering the most common queries.

The market research and education section also include Market News and Analysis, MetaTrader Guides, and articles on Trading Fundamentals and Trading Strategies. The content is informative, updated regularly and is suitable for beginner and advanced traders.

Pros: Cons:
  • ASIC regulated.
  • Commission-free trading available with competitive spreads.
  • 200+ financial CFD instruments.
  • MetaTrader 4 and MetaTrader 5 available.
  • VFSC regulated.

 

About the Author

Jitan Solanki
Author
Jitan is a currency trader and an accredited Market Technician with more than 15 years of experience working with fund managers and on several proprietary trading floors. He is regularly quoted in the financial media for his currency market insights and forecasts and is based in London.
Read More

Review sections


Eightcap Video Review

Investor Protection & Regulations

“Eightcap operates entities regulated by the Vanuatu Financial Services Commission (VFSC) and the Australian Securities and Investments Commission (ASIC).”

Eightcap is a brand name for Eightcap Pty Ltd, an entity authorised and regulated by the Australian Securities and Investments Commissions (ASIC), as shown on the regulator’s register below:

Eightcap is also a brand name for Eightcap Global Ltd (Vanuatu), an entity authorised and regulated by the Vanuatu Financial Services Commission (VFSC), confirmed on the regulator’s register below:

The broker provides further security of client funds by following the below regulatory requirements:

  • Holding Funds in a segregated account from company funds.
  • Negative balance protection policy.

Tradable Products

“Eightcap offers clients the ability to trade on more than 300+ financial CFD instruments covering Forex, Indices, Commodities, Shares and Cryptocurrencies.”

Eightcap offers clients the ability to trade on more than 300+ financial CFD instruments covering Forex, Indices, Commodities, Shares and Cryptocurrencies. Below is a list of just some of the available markets for trading:

Forex Commodities
EURJPY Silver
GBPUSD Platinum
AUDUSD Gold
USDJPY Shares
NZDUSD Apple
Indices Google
AUS200 Tesla
EUSTX50 Cryptocurrencies
GER30 Bitcoin
JPN225 Ripple
FRA40 Ethereum

* Details regarding the available assets are taken from the Eightcap website and trading platform and are correct at the time of this review. You can find a more detailed list here.

Trading costs such as spreads and overnight funding (swap) rates vary depending on the entity, account type opened and instrument being traded and are covered further down this review.

Account Opening

“Eightcap offers clients two main account types – Standard and Raw as well as Demo accounts.”

Eightcap offers clients two main account types – Standard and Raw as well as Demo accounts. The main features of each account are summarised in the below table:

Standard Account Raw Account
Min. deposit $100 AUD or equivalent $100 AUD or equivalent
Commissions No commissions $3.5 per standard lot traded
Average Spread 0.5 – 1.8 pips 0.0 – 1.0 pips
Leverage* 1:30 or 1:500 1:30 or 1:500
Base Currency Options AUD, USD, EUR, GBP, NZD, CAD, SGD AUD, USD, EUR, GBP, NZD, CAD, SGD
EA Allowed Yes Yes

*It should be noted that the max leverage offered with the ASIC entity is 1:30 but the Vanuatu entity does offer leverage up to 1:500.

Users can open a new account in just a few steps, as described below:

  1. APPLY – Fill out an application form
  2. VERIFY – Upload documents to verify your ID and address
  3. FUND & TRADE – Fund your account with a minimum deposit of $100 and start trading

The client portal is shown below:

Eightcap does not accept clients from the following countries: Afghanistan, Azerbaijan, Burundi, the Bahamas, Congo, Cyprus, Eritrea, Western Sahara, Ethiopia, Israel, Iraq, Iran, Japan, Korea, (the Democratic People’s Republic of), Lebanon, Libya, Myanmar, Puerto Rico, Palestine Sudan, Sierra Leone, Somalia, South, Sudan, Syrian Arab Republic, Tunisia, Trinidad and Tobago, United States Minor Outlying Islands (the), United States of America, Venezuela, Vanuatu, Kosovo, Yemen and Zimbabwe.

Deposit & Withdrawals Options

“Eightcap offers a variety of fee-free deposit and withdrawal methods including via debit/credit card, bank wire, PayPal, Poli Payment, BPay, China UnionPay, Skrill and Neteller.”

Eightcap offers a variety of fee-free deposit and withdrawal methods including via debit/credit card, bank wire, PayPal, Poli Payment, BPay, China UnionPay, Skrill and Neteller. The table below shows the accepted currencies, fees and processing times for each funding method:

Deposits Currencies Fees Processing times
Debit/Credit Card AUD, USD, GBP, EUR, NZD, CAD, SGD No fees. Instant Deposit 24/7
Poli AUD No fees. Instant Deposit 24/7
Bank Wire AUD, USD, GBP, EUR, NZD, CAD, SGD Australian bank transfers will not incur any fees, however, fees may apply to international bank transfers. 1 – 3 business days
BPAY AUD No fees. 1 – 2 business days
China UnionPay RMB No fees. Instant Deposit 24/7
Skrill USD, EUR No fees. 1 – 2 business days
Neteller USD, EUR No fees. Instant
Withdrawals Currencies Fees Processing times
Debit/Credit Card

USD, EUR, GBP,

AUD, THB,

VND, MYR, IDR

No fees. Processed in 24 hours.
Bank Wire

USD, EUR, GBP,

AUD, CAD, HKD,

JPY, NZD, SGD

Depends on the bank. Processed in 24 hours.
Skrill

USD, EUR, GBP,

AUD, CAD,

HKD, THB, MYR,

VND, IDR

1% transaction fee 2 – 3 business days
Neteller

USD, EUR, GBP,

AUD, CAD

Neteller may charge a withdrawal fee. Instant

Clients can deposit and withdraw funds through the client portal.

Web & Desktop Trading Platforms

“Eightcap offers clients the ability to trade through the popular MetaTrader 4 and MetaTrader 5 trading platforms for Windows, MAC and Web (MT5 only).”

Eightcap offers clients the ability to trade through the popular MetaTrader 4 and MetaTrader 5 trading platforms for Windows, MAC and Web (MT5 only). The platform features are highlighted below:

Eightcap WebTrader

  • Trade on multiple asset classes.
  • Market depth.
  • 80 built-in indicators.
  • No download needed.

Eightcap MetaTrader 4 (Windows/MAC)

  • One-click trading.
  • 30 technical indicators.
  • Expert Advisors.
  • Downloadable for MacOS.

Eightcap MetaTrader 5 (Windows/MAC)

  • 21 timeframes.
  • 38 technical indicators.
  • Share trading.
  • Downloadable for MacOS.

A screenshot of the Eightcap MetaTrader 5 Windows platform is shown below and is covered in more detail in the video review.

Mobile Trading Platforms

“Eightcap offers clients the ability to access mobile trading on the go from the MetaTrader 4 and MetaTrader 5 mobile app for Android and iOS systems.”

Eightcap offers clients the ability to access mobile trading on the go from the MetaTrader 4 and MetaTrader 5 mobile app for Android and iOS systems. The app download links can be found in the Google PlayStore or Apple AppStore respectively.

The MetaTrader 5 mobile trading app provides a range of different features including:

  • 9 timeframes.
  • 3 types of charts.
  • 30 technical indicators.
  • Complete trading history.

The MetaTrader 5 mobile trading app is covered in more detail in the video review.

Trading Features

“Eightcap does offer Capatalise.ai, a code-free platform allowing automated trading strategies to be executed 24/7 using instructions in plain English. Further, users can take advantage of MetaTrader marketplace to download thousands of additional technical indicators, automated trading strategies and copy trading services.”

Eightcap does offer Capatalise.ai, a code-free platform allowing automated trading strategies to be executed 24/7 using instructions in plain English. The platform can scan the market and execute trades based on data, technical indicators, and macroeconomics in real-time, simulate strategies, document performance stats and more.

Further, users can take advantage of the MetaTrader marketplace to download thousands of additional technical indicators, automated trading strategies and copy trading services.

Commissions & Spreads

“Trading costs with Eightcap vary, depending on account type and the market traded. The Standard account is commission-free with slightly larger spreads whereas the Raw account is commission-based but with raw spreads.”

Trading costs with Eightcap vary, depending on account type and the market traded. The Standard account is commission-free with slightly larger spreads whereas the Raw account is commission-based but offers raw spreads.

The below table shows the trading costs for each account type:

Standard Account Raw Account
Commissions No commissions $3.5 per standard lot traded
Average Spread 0.5 – 1.8 pips 0.0 – 1.0 pips

Overnight funding or ‘swap’ fees are charged on positions that remain open overnight (22:00) GMT. If positions are being held over the weekend a three-day ‘swap’ charge will be charged on Wednesdays.

The broker does not charge any inactivity account fees.

Bonus & Promotions

“In accordance with regulatory restrictions, the Eightcap (ASIC) entity does not offer any bonuses or promotions and currently, there are also no bonuses or promotions available with the Vanuatu (VFSC) entity.”

Customer Support

“Eightcap offers multilingual customer support 24/5 via phone, email and live chat. There is also a detailed FAQ section on the broker’s website.”

Eightcap offers multilingual (English, Chinese, Thai, Indonesian, Arabic, French, Portuguese, Spanish, Italian, German and Vietnamese) customer support 24/5 via phone, email and live chat. There is also a detailed FAQ section on the broker’s website covering General Information, Trading Account, Funding & Withdrawals, Login Problems, Platform Issues and Trading related questions.

After submitting a question through the live chat we were connected to an agent who answered our question within 10 seconds, as shown below:

Contact Information:

Research

“Eightcap offers a great range of market research including Market News and Analysis across global markets. Overall, the content is frequently updated and is suitable for both beginner and advanced traders.”

Eightcap offers a great range of market research including Market News and Analysis across global markets. The articles include regular market updates covering important news, market commentary and insights in real-time as well as Week Ahead articles that highlight upcoming data releases and events. Overall, the content is frequently updated and is suitable for both beginner and advanced traders.

Trader Education

“Eightcap offers a variety of educational resources including tutorials and articles covering MetaTrader Guides, Trading Fundamentals and Trading Strategies.”

Eightcap offers a variety of educational resources including tutorials and comprehensive articles about MetaTrader, Trading Fundamentals and Trading Strategies. The MetaTrader section includes articles on the differences between MetaTrader 4 and MetaTrader 5 as well as how to use various features within each trading platform.

The Trading Fundamentals and Trading Strategies articles also provide a great insight into many different areas including:

  • What is the Margin of Safety and How can I Calculate it?
  • Trading 101: How to Read Candlestick Charts in MetaTrader 4?
  • How to Manage Risk While Trading CFDs
  • How to Set Up Your CFD Portfolio
  • Swing Trading: Definition, Examples & Must-Have Indicators

The content available in the education section is extensive, informative and is also regularly updated with new content. The topics are suitable for beginner and advanced traders.

Trading Experience

“Eightcap provides a great all-around service to clients allowing them to access over 200+ financial CFD instruments covering Forex, Indices, Commodities, Shares and Cryptocurrencies, all through the popular MetaTrader 4 and MetaTrader 5 trading platforms for Web (MT5 only), PC, MAC and Mobile.”

Eightcap provides a great all-around service to clients allowing them to access over 200+ financial CFD instruments covering Forex, Indices, Commodities, Shares and Cryptocurrencies, all through the popular MetaTrader 4 and MetaTrader 5 trading platforms for Web (MT5 only), PC, MAC and Mobile.

Users can choose from two account types, Standard and Raw. Standard accounts offer commission-free trading but with larger spreads, whereas Raw accounts are commission-based but have raw spreads. There are also no deposit or withdrawal fees charged by the broker, although there may be charges by the payment provider.

The market research and education material available is also high-quality, frequently updated and is suitable for traders of all levels.

FAQ

Is Eightcap regulated?

Yes, by the Australian Securities and Exchange Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).

Where is Eightcap based?

Govant Building, Bp 1276, Port Vila, Vanuatu.

How does Eightcap make money?

Eightcap makes money mainly through commissions, spreads and swaps on certain asset classes.

How do I deposit in Eightcap account?

Funds can be deposited into a trading account via debit/credit card, bank wire, Poli Payment, BPay, China UnionPay, Skrill and Neteller.

What is the min. deposit for Eightcap?

The minimum deposit is 100 AUD or equivalent.

How do I withdraw money from Eightcap?

Withdrawals can be made via debit/credit card, bank wire, Skrill and Neteller.

What is the max leverage in Eightcap?

1:30 for users registered with the ASIC entity and 1:500 for users registered with the Vanuatu entity.

How do I open an account with Eightcap?

An account can be opened at the click of a button on the Eightcap website and can be done in just a few steps.

Does Eightcap use MetaTrader?

Yes, MetaTrader 4 and MetaTrader 5.

Conclusion

“Eightcap is authorised and regulated by the Australian Securities and Investments Commissions and the Vanuatu Financial Services Commission. The broker offers clients the ability to access more than 200+ financial CFD instruments covering Forex, Indices, Commodities, Shares and Cryptocurrencies through the MetaTrader 4 and MetaTrader 5 trading platforms.”

Eightcap Pty Ltd was founded in 2009 in Australia. The broker is authorised and regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).

The broker offers clients the ability to access more than 300+ financial CFD instruments covering Forex, Indices, Commodities, Shares and Cryptocurrencies through the MetaTrader 4 and MetaTrader 5 trading platforms for Web (MT5 only), PC, MAC and Mobile.

Clients can choose from two main account types, Standard and Raw. Standard accounts offer commission-free trading but with slightly larger spreads, whereas Raw accounts are commission-based but have raw spreads. Demo accounts are also available.

Deposits and withdrawals are fee-fee and include popular methods such as debit/credit card, bank wire, PayPal, Poli Payment, BPay, China UnionPay, Skrill and Neteller. Additionally, the broker offers multilingual customer support 24/5 via phone, email and live chat. There is also a comprehensive FAQ section covering the most common queries.

The market research and education section also include Market News and Analysis, MetaTrader Guides, and articles on Trading Fundamentals and Trading Strategies. The content is informative, updated regularly and is suitable for beginner and advanced traders.

  • ASIC regulated.
  • Commission-free trading available with competitive spreads.
  • 200+ financial CFD instruments.
  • MetaTrader 4 and MetaTrader 5 available.
See Eightcap Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
Australia
Foundation Year
2009
Regulations
ASIC (Australia), VFSC (Vanuatu)
Publicly Traded
No
Number Of Employees
100-200
Trading Desk Type
Market Maker
Trading platforms
MT5
Restricted Countries
United States, Japan, Burundi, Congo, Cyprus, Eritrea, North Korea, Iraq, Iran, Puerto Rico, Sudan, Yemen, Tunisia, Trinidad and Tobago, Kosovo, Azerbaijan, Vanuatu, Palestine, Libya, Syria, Ethiopia, Sierra Leone, Israel, Venezuela, Lebanon, Myanmar, Somalia, South Sudan, Afghanistan, Zimbabwe, Bahamas
Supported Languages
English, Spanish, German, French, Arabic, Portuguese, Chinese, Italian, Indonesian, Vietnamese, Thai
Min Deposit
$100
Max Leverage
1:500 (ASIC), 1:500 (VFSC)
Deposit Options
Wire Transfer, Credit Card, Skrill, Neteller, Bpay, Union Pay, Poli
Withdrawal Options
Wire Transfer, Credit Card, Neteller, Cash-U, Bpay, Union Pay, Poli
Cryptocurrencies
Bitcoin, Litecoin, Ripple, Ethereum
Fixed Spreads
No
Commission On Trades
Yes
Products
Crypto, Currencies, Commodities, CFDs, Indices, Stocks
Mini Account
No
Premium Account
No
Demo Account
Yes
Islamic Account
No
Segregated Account
No
Managed Account
No
Institutional Account
Yes
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