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18-06-2021|Brokers

Eightcap Review 2021 - How Good Is The FX & CFD Broker?

Eightcap is an Australian global forex broker that was founded in 2009. The company is authorised and regulated in multiple jurisdictions. ASIC regulates Eightcap Pty Ltd, and VFSC regulates Eightcap Global Ltd.
The broker is committed to building a home for MT4 and MT5 traders. Its goal is to deliver an unrivalled trading experience to clients by providing them with one of the best trading environments in the financial world. To open a live account with this broker, click here.

Unique Features :

Eightcap offers its clients access to over 300 financial instruments, including 45 FX pairs, 11 indices, 5 cryptocurrencies, 5 commodities, 258 U.S. and Australian Share CFDs. The broker also provides a range of educational tools available for all Eightcap clients. The broker has been awarded the Best Global MT4 Forex Broker at the 2020 Global Forex Awards, it also has a reputable rating on Trustpilot and Google. Eightcap prides itself in customer service and offers support in English, Chinese, Thai, Indonesian, Arabic, French, Portuguese, Spanish, Italian, German and Vietnamese.


Account Types and Fees :

The Standard Account is a commission-free account with wider spreads, while the Raw Account charges a small commission in return for spreads that start from 0.0pips. Base currencies available are AUD, USD, EUR, or GBP. The Raw Account can also be denominated in NZD.

The leverage available is dependent on the user. Australian clients have a maximum leverage of 30:1, and non-Australian clients will have a maximum leverage of 500:1.

Standard Account – The Standard Account is a commission-free trading account with variable spreads and 100 USD minimum deposit, the average spread on major pairs is 1 pip but can fall to 0.5 pips at times.

Raw Account – The Raw Account is a commission-based account with tight spreads but is otherwise similar to the Standard Account. The minimum deposit is 100 USD, and spreads can be as low as 0 pips on major currency pairs.

Eightcap offers a Transparent Pricing Model made up of low, highly competitive and tight rates. The spreads on our MetaTrader 4 or MetaTrader 5 platforms are variable, with quotes from numerous leading banks and institutions and other top-tier liquidity sources globally.

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. Spreads vary on cryptocurrencies. Recently spreads on Bitcoin can reach 30 pips. Average spreads for Australian company shares are around 1.0 pip.

In Forex trading, if you leave one or more positions opened at 24:00 (GMT+2) for the next trading day, a daily Swap adjustment will be adjusted to your position. From Wednesday to Thursday, Swap is charged for 3 days instead of 1. This is to cover the settlement of trades over the weekend.

Swap Rates :

Eightcap is not involved in the physical delivery of trades, thus all positions left open at the end of the trading day will be rolled over to a new value date and will therefore have exposure to a swap charge or credit.

To view our most up-to-date swap rates, please refer to the Market Watch panel in our MetaTrader 4 or MetaTrader 5 trading terminal.

Simply right-click on any instrument in the ‘Market Watch’ panel and then select the ‘Specification’ option from the context menu. A new window will open that shows various instrument specifications including the long and short swap rates of the symbol you selected.

The three steps of opening an account with Eightcap:

1. Complete a short application form where you will need to fill out your personal details and select a password. 
2. Verify your identity and residency by uploading a copy of your passport or ID and a bank statement or utility bill.
3. After your account has been approved, fund it with as little as $100 to begin trading. "

Minimum deposit to start trading with Eightcap is $100 and applies to both accounts.

Deposit and Withdrawal Methods :


Eightcap charges no deposit fees and withdrawal fees and has various payment methods. Deposits and withdrawals can be made via Credit/Debit Card, POLi Payment, Bank Wire Transfer, Fasapay, BPAY, China UnionPay, Skrill and Neteller.

A bank transfer can take several business days, while a credit/debit card is instant.

You can only deposit and withdraw money from accounts that are in your name. Eightcap users can also transfer money between their trading accounts in a matter of seconds, as needed via their client dashboard.

Regulation and Licenses :

"The company is authorised and regulated in multiple jurisdictions. Eightcap Pty Ltd is regulated by the Australian Securities and Investment Commission (AFSL 391441). Eightcap Global Ltd (Vanuatu) is regulated by the Vanuatu Financial Services Commission (company registration no. 40377). "

Eightcap is led by a team made up of highly-qualified experts in the industry, with a deep understanding of what traders, both retail and institutional, really need to reach their trading potential. Our staff all share the same passion for trading and are dedicated to providing a home for both MT4 and MT5 traders, regardless of their individual needs and experience levels.

Financial Instruments :

Eightcap offers its clients exposure to 324 financial instruments, including 45 FX pairs, 11 indices, 5 cryptocurrencies, 5 commodities, 258 U.S. and Australian Share CFDs.
Forex: At Eightcap, you can trade over 40 different currency pairs, including major and minor currencies. The most traded currency pairs on Eightcap include EUR/USD, USD/JPY, USD/CHF, AUD/USD, GBP/USD, etc.

Commodities: Eightcap offers its clients the commonly brokered commodities, which are Gold, Silver and Crude Oil.

Indices: The indices you can trade with Eightcap, include eight of the world's most popular indices from equity markets across four continents. Examples of indices you can trade include Dow Jones, FRA40, GER30, UK100, AUS200, EUSTX50, JPN225, SPX500, NDX100, and HK50.

Shares: Eightcap offers over 250 American and Australian share CFDs, including Apple, Accenture, Adobe, Disney, Exxon Mobil, Oracle, etc.

Research :

Eightcap has a vast range of research tools available to its clients. This includes trade ideas, market updates and both fundamental and technical analysis guides. The broker also offers a trading week ahead to its users. There are good tools for technical analysis, like MT4 charting or its Strategy Tester.

The broker offers fundamental articles under the learn section of its website. This is updated weekly to inform new and beginner traders on strategy, risk, economic indicators, asset information, and trading psychology.

There is also information about major 'Financial Events' that have a profound impact on market movements. This allows clients to determine markets, sectors and events that they will need to be aware of.

Additional Platforms and Tools we offer:

Eightcap is the sponsor of The Trading Battle, a new series of live-streamed trading battles between two professional traders.

This new sponsorship allows traders to learn from FX and CFD experts by copying trade ideas and seeing how trading risk and emotion are managed.

Capitalise.ai Tools and Webinars :

As well as providing Eightcap users with the option to automate their trades code-free, clients are also given access to regular webinars held by Capitalise.ai. At the webinars, clients will learn more about the tool and how they can use it to enhance their trading strategy.

FPTX :

We also have an exclusive deal in place with FPTX, which will allow our clients to use unique MT4 and MT5 risk management tools.

Education :

Eightcap has a wide range of educational tools, including webinars, ebooks and platform guides. There is also a demo account as well as informative articles to read.

BKForex Webinars :

Eightcap has an exclusive education and research partnership with BKForex, a company founded by two leading FX experts Boris Schlossberg and Kathy Lien, to bring Eightcap users unique resources and tools. More recently, Eightcap's clients have had access to a four-part educational series with Boris Schlossberg. The webinar series covers everything from understanding the basics of the MT4 platform to more advanced strategies such as learning how to use trading scripts, indicators and robots.

As well as the above, Eightcap users also have access to free trade ideas, custom trading indicators and membership access to BKForex, allowing them to trade from charts instantly, find high probability trades and make the most of price movements.

Customer Support :

Eightcap's customer service is great via email and live chat in multiple languages.
Phone Number : 61383759700, 61383734800
Email Address : customerservice@eightcap.com, global@eightcap.com

Trading Platforms :

Eightcap is present on the MT4 and MT5 trading platforms and on WebTrader. Traders can choose any of the trading platforms for desktop or mobile. They can also enjoy 30 and 80 pre-installed trading indicators on the MT4 and MT5 platforms, respectively; monitor trading in 9 different timeframes, and trade over 300 CFD tools while enjoying competitively low spreads.


Pros :

- Segregated Client Funds
- Offering FX and CFD services for over a decade
- Eightcap Pty Ltd is regulated by ASIC and Eightcap Global Ltd is regulated by VFSC
- Min Deposit from $100
- Offers trading automation
- Zero commission on Standard Accounts
- A wide range of educational resources.

To open a live account with this broker, click here.

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