Eightcap Broker Review

Written by Naylyan Nazifova

Naylyan Nazifova

Naylyan Nazifova is a recognised expert in the online trading field. She has many publications and analysis covering forex trading, stock investing and personal finance. 

, | Updated: June 25, 2025

If you are on the lookout for a reputable online broker offering easy portfolio diversification through great market exposure, Eightcap is the right option for you. Regulated in multiple jurisdictions, Eightcap caters to a global traders audience, offering them an extensive selection of Forex and CFD instruments.

In this review, we provide a detailed dissection of all key elements that make Eightcap a great choice for traders. To be fully transparent with our readers, we will highlight both the strengths and the weaknesses of the brand. As of June 16, 2025, Eightcap’s Trustpilot score is 4.2, which is based on a total of 3,052 customer reviews. About 72% of reviewers have given the brand the highest score of five stars, while four, three, and two stars were the ratings of 12%, 3%, and 2% of reviewers, respectively. Some 11% of reviewers gave Eightcap only one star.

Key Pros and Cons

Company Information

Founded in 2009 in Melbourne, Australia, Eightcap is a global brand catering to numerous traders across multiple jurisdictions. Regulated by tier-1 authorities, the broker is fully compliant with stringent anti-money laundering (AML) and counter-terrorism financing (CTF) practices, ensuring a fair and safe trading environment. Offering over 800 CFD products, Eightcap covers markets like Forex, commodities, indices, shares, and cryptos.

To be fully compliant with regulations across different jurisdictions, Eightcap has several entities, each overseen by a reputable regulator:

• Eightcap Pty Ltd: An entity based in Melbourne, Australia, operating under a license from the Australian Securities and Investments Commission (ASIC).
• Eightcap Group Ltd: An entity authorized and regulated by the Financial Conduct Authority (FCA), registered in the UK and Wales.
• Eightcap EU Ltd: The European entity of the broker, catering to traders residing in EU regions. Registered in Cyprus, the entity operates under a license issued by the Cyprus Securities and Exchange Commission (CySEC).
• Eightcap Global Limited: An entity catering to international traders, operating under a license issued by the Securities Commission of The Bahamas (SCB).
• Eightcap Financial Services MENA LLC: The Middle East division of the brokerage, operating with a license issued by the Securities and Commodities Authority (SCA) of the United Arab Emirates.

With an extensive experience in the trading field, Eightcap knows how to cater to different traders, offering them various platforms, account types, and competitive trading conditions.

Why Trade with Eightcap?

Below, is a concise list of the aspects we appreciate the most about trading with Eightcap.

Regulation

One reason to consider Eightcap as your top pick for trading is the solid regulatory background of the brand, which carries licenses issued by several major authorities in the industry. As mentioned earlier, the broker has five entities that have been authorized to operate by five prominent regulatory bodies.

The Australian entity of Eightcap has received permission to operate from ASIC, offering Australian traders Forex and CFD instruments under license number 391441. Additionally, the broker has also been authorized to offer trading services to British traders under its Eightcap Group Ltd entity, licensed by the FCA (reference no. 921296).

European traders outside the UK can also join Eightcap as the broker has received the CySEC stamp of approval. Registered in Cyprus, the Eightcap EU Ltd entity has been authorized to operate under CySEC license number 246/14.

There is also the Eightcap Global Limited entity, which is regulated by the SCB and operates under license number SIA-F220. Finally, the company recently acquired authorization from the Securities and Commodities Authority (SCA) of the United Arab Emirates, which enables it to service clients from the region legally.

Here is a breakdown of the regulators that monitor the operations of Eightcap in multiple jurisdictions:

The Australian and European entities of Eightcap are following strict regulations imposed by the ASIC, FCA, and CySEC to ensure a safer trading environment for both traders and trading service providers. Mandatory negative balance protection, investor compensation schemes, and leverage caps are some of the specific requirements Eightcap must meet in order to operate in the UK, EU, and Australia.

Traders residing outside the aforementioned jurisdictions can also join Eightcap as the international entity of the broker has received permission to operate from the SCB, the financial watchdog of the Bahamas. While this authority is also adamant about brokers implementing advanced client protection measures, it is a bit more relaxed when it comes to leveraged trading. That is why the SCB-regulated entity of Eightcap offers leverage of up to 1:500 on Forex and gold.

KYC Procedure for Account Creation and Depositing

As already mentioned, Eightcap is a broker operating under the regulatory purview of several tier-1 global regulators, meaning, the brand is following stringent requirements regarding transparency, client protection, and fairness. To fully comply with AML and CTF regulatory requirements, Eightcap’s clients must complete a mandatory Know Your Customer (KYC) procedure.

During the registration process, traders who wish to open live accounts with Eightcap need to confirm their identity and address. This is done by uploading pictures of an ID card, driver’s license, or passport for identity verification and submitting a utility bill or bank statement to confirm one’s current residential address. Before you get to this step, however, we would like to introduce you to the stages of opening a live account with Eightcap.

1. If you are ready to start trading with Eightcap, you can head to the homepage of the broker’s website and select ‘Create Account’, which is a button available in several sections on the screen. This will allow you to choose whether to register with an existing Gmail account or choose a different email option.
2. Enter your email address and choose the password for your Eightcap account. Keep in mind there are specific requirements for the password, such as its length or the presence of capital letters, numbers, and special characters. At this stage of the registration process, you will also see the exact Eightcap entity you are opening your account with.
3. Select your country of residence and provide your first and last name, as well as your phone number.
4. The broker will send you a confirmation email and once you verify your email address, you will be redirected to the Application section of the account opening process. Here, traders must provide personal details such as date of birth, physical address, and any country-specific details required for taxation.
5. The following step requires setting up your trading account parameters by choosing your preferred trading platform, account type, base currency, and leverage cap.
6. After you confirm you have read and agree to the policies of Eightcap, you can proceed to the KYC process to confirm your identity.
7. Once you submit the required documents, your account application will be sent for approval.

It may take one business day for the broker’s compliance team to approve your account application. After approval, you will be notified by email that your live account is activated, and you can upload funds to start trading. The minimum deposit amount for any account type at Eightcap is $100.

If traders wish to practice before they open a live account with Eightcap, they can start by opening a demo account with the broker. For this purpose, traders simply need to provide the email address and password they wish to use and choose a few specifics about their demo account.

No Suitability Test Requirement

It is worth noting that Eightcap has made the registration process as simple as possible, eliminating the need to take a suitability test before you open a live trading account. While quizzes are included in the registration form with some brokers, the only step that may take a little more time during the registration with Eightcap is the KYC step, which requires document submission.

Account Types

Upon setting up their live trading accounts, Eightcap traders can choose between two account options, each offering different perks. Forex traders can choose to open the following live accounts with Eightcap:

• Standard Account: zero-commission trading with slightly wider spreads
• Raw Account: charges a small commission but spreads start from as little as 0.0 pips

Demo Account

As mentioned, Eightcap allows paper trading with a demo account as well. If you have not registered with the broker, you can opt for a demo account trial, and provide a few simple details to register with Eightcap. Alternatively, if you have gone through the whole live account application process, you can also open a demo account once your application gets approved. In fact, traders who have active live trading accounts can open up to 6 demo accounts at the same time – three on the MT4 platform and three for MT5. Demo accounts at Eightcap are deactivated 30 days after their creation or once users have placed 5,000 virtual trades.

Eightcap Pro

Traders who have registered with Eightcap under the Eightcap Group Ltd entity will have a single retail account option at their disposal. While this account version comes with leverage restrictions of up to 1:30 on major Forex pairs and up to 1:20 on minors, it is possible to increase these limits by opening an Eightcap Pro account. The ASIC-regulated entity imposes the same leverage limits on retail accounts, allowing professional traders to lift these limits. The Pro account caters to professional traders, allowing them to unlock leverage of up to 1:200 on Forex pairs and gold. To qualify as a professional trader with Eightcap, members must fulfill several criteria: at least one year of work experience in the financial sector, significant leveraged derivative trading activity over the past four quarters, and a financial instruments portfolio exceeding €500,000.

For Aussies, the qualifications for professional accounts include a sophisticated trader and a high net worth investor criteria. The first condition is met if traders successfully complete the Sophisticated Investor Assessment test, provide proof of substantial trading volume of at least AU$2 million, along with a signed Sophisticated Investor Acknowledgement Form, and complete a questionnaire to confirm they have sufficient experience and knowledge in derivative trading. To satisfy the minimum net worth requirements, traders must have a gross annual income exceeding AU$250,000 for the past two years or own net assets worth at least AU$2.5 million.

Account Types You Will Not See at Eightcap

While you can open both demo and live trading accounts at Eightcap, there are a few options missing from the list. Unfortunately, the broker does not support swap-free (also called Islamic) accounts where no interest is paid or earned on overnight positions. This makes Eightcap unsuitable for traders who cannot pay or receive swap fees due to their religious beliefs.

Eightcap customers have no access to managed accounts, either. This eliminates the perk of having an account manager handling your orders, and making informed trading decisions on your behalf. On the other hand, experienced trades also do not have the opportunity to make additional income from managing several trading accounts at once.

Trading Fees and Other Costs

Before you engage in any trading activity with Eightcap, it is recommended to explore the fees applicable to your trading account. Like most Forex and CFD brokers, Eightcap imposes some surcharges you should consider carefully. To help you understand the fee structure of the broker, we will discuss the two main charges it imposes:

• Trading Fees: these include spreads, commissions, and overnight fees, applicable to your trades.
• Non-Trading Fees: these include account dormancy fees, withdrawal and deposit fees, currency conversion and account-management fees

Below is a table displaying all the trading and non-trading fees at Eightcap:

Spreads

To ensure competitive prices, Eightcap provides tight spreads across all tradable symbols it offers to its clients. As we already mentioned, the broker, excluding its FCA-regulated entity, offers two main account types with different pricing models.

Standard accounts use the spread-only model with slightly wider spreads with a one-pip markup.
Raw accounts have commissions per standard lot, but spreads are significantly tighter.

Below is a comparison table showing the average spreads on popular Forex pairs across the two account types available at Eightcap:

To show you how trading with a Standard and Raw account will affect your overall trading expenses, we provide a very simple example of trading the EUR/USD pair with the two different account types at Eightcap.

For our example, we will consider a position of one standard lot where a one-pip price change equals $10. To make our calculations easier to understand, we shall assume that the position is opened and closed at the same price. At the moment of writing, the average spread on EUR/USD is 1.1 pips with Standard accounts and 0.1 pips when traded with a Raw account.

Standard Account Price:

Spread: 1.1
Spread + $0 commission = (1.1 x $10) + $0 = $11 per side
Total Cost: $11 x 2 = $22 for a roundtrip trade

Raw Account:

Spread: 0.1
Spread + Commission = (0.1 x $10) + $3.50 = $1 + $3.50 = $4.50 per side
Total Cost: ($1 x 2) + ($3.50 x 2) = $2 + $7 = $9 for a roundtrip trade

As you can see, despite charging a commission on every side of the trade, the Raw account still offers lower total trading costs as a result of its extremely tight spreads.

Commissions

When estimating the overall trading costs, it is necessary to consider the commission factor. At Eightcap, customers can choose from either commission-free trading with Standard accounts or trading with tighter spreads and a small commission in each direction of their positions. It should be noted that trading shares with a Standard account also incurs commissions.

Depending on the base currency of your Eightcap account, the commission you will be charged on each side of a trade is 3.5 AUD, USD, NZD, SGD, CAD, 2.25 GBP, or 2.75 EUR. It should be noted that this commission applies per standard lot (100,000 units), meaning that trading in micro or mini lots will result in lower charges per side.

• Standard lot trade (100,000 units): a $3.50 commission is charged per side, or $7 in both directions.
• Mini lot trade (10,000 units): you pay a $0.35 commission per side, or $0.7 in both directions.
• Micro lot trade (1,000 units): a $0.035 commission is charged per side, or $0.07 roundtrip.

Financing Charges

If traders decide to keep their leveraged positions open overnight, the broker will apply the so-called swap rates. Depending on the way the market is moving, swaps are either received or paid by traders. While the rates depend on the current interest rates differentials, liquidity levels, volatility, and other changing market conditions, we can provide the formula Eightcap uses for swap rates applied on overnight positions.

• For Forex, Metals, and Oil Trades:

SWAP Rate * Lots (Volume) * Nights = SWAP rate in the second currency.

• For Shares:

Тhe lots (volume) * The contract size * The current stock price * ((The SWAP rate/ 100) / 365)

• For Crypto:

(Volume in lots * Current price * Long (Buy) or Short (Sell) rate / 100 )/ 360

• For Indices:

SWAP Rate Long/Short * Volume in lots * Nights held = SWAP charge

Since most markets, excluding cryptocurrencies, are not operating on weekends, swaps on overnight positions are tripled on certain days of the week. For Forex, metals, and crude oil, the triple swap is applied on Wednesdays, while for shares, triple swaps are charged every Monday. Index CFDs incur triple swap rates on Fridays. As mentioned, the crypto market is active on weekends and bank holidays, so no triple swap rate is applied on crypto positions held open overnight.

Deposit Fees

One of the biggest advantages of Eightcap is that the broker does not impose any additional internal fees on deposits, no matter which payment method traders use. It should be noted, however, that third-party payment service providers may levy some surcharges whenever traders use certain methods to top up their accounts at Eightcap.

Withdrawal Fees

Not only will Eightcap charge zero fees on deposits, but the broker also imposes no internal fees on withdrawals. Wire transfer withdrawals at the CySEC entity are the sole exception as the broker may charge an additional fee of $/€/£8 per request. Traders also should be aware of any fees charged by their payment service providers before utilizing certain methods for their transactions at Eightcap.

Inactivity Fees

Inactivity fees are also a key non-trading surcharge to consider before you open a live account with Eightcap. You should keep in mind that Eightcap does charge a $10 monthly fee for inactivity. An inactive account is one without any deposits or trading activity for a period of three consecutive calendar months. If you have several live accounts at Eightcap but only one of them is inactive, you will incur no inactivity charges.

It should be noted that this inactivity fee is applicable to traders who have registered with the Eightcap EU Ltd entity, so there might be no inactivity fees for clients of the other divisions.

Overall on Fees

Traders with live accounts at Eightcap enjoy some of the most competitive trading conditions online. This is especially true for those who opt for the Raw account option as it provides extremely tight spreads that start from 0.0 pips on major Forex pairs. As for commissions, unless you trade shares, you will be charged zero commissions for opening and closing positions via the Standard account at Eightcap. Meanwhile, the Raw account comes with a small commission of only $3.50 per side, per standard lot. Eightcap is transparent about non-trading fees, with the only charge being a $10 inactivity fee applied after three months of account dormancy. Traders from Europe may pay a small additional fee when withdrawing with wire transfers.

Desktop Trading Platforms

Eightcap customers have access to several innovative, user-friendly, and feature-rich trading platforms. Catering to both beginners and advanced traders, the broker supports desktop and mobile-compatible versions of:

• MetaTrader 4 (MT4): One of the most widely used trading platforms on a global scale
• MetaTrader 5 (MT5): The successor of MT4, offering more order types, timeframes, advanced technical indicators, and charting tools
• TradingView: A great third-party platform for social trading, offering robust analytical tools and advanced charts

It is worth noting that not all three platforms are available across every Eightcap entity. For instance, the European website supports only MT5 and TradingView, while customers of the Bahamas-licensed offshore entity can use MT4 as well.

MT4

MT4 is a widely utilized trading platform available to both Standard and Raw account holders at Eightcap. Thanks to its user-friendly interface and adjustable charts, the first version of MetaTrader is suitable for both beginners and experienced traders. The platform offers Eightcap members access to more than 2,000 free technical indicators, 9 timeframes, and 30 built-in indicators.

Users can engage in automated trading with Expert Advisors (EAs) robots and chart with 24 graphical objects, including arrows, shapes, and lines. In addition to a web-based version, MT4 can also be downloaded and installed on your Mac or Windows desktop computer. Mobile trading is available through the native MT4 app, compatible with Android and iOS smart devices.

MT5

Eightcap customers can also choose to trade Forex, commodities, shares, and other products through MT5, the successor of MT4. This platform has expanded the range of tools and orders available to traders, allowing for improved market analysis and more informed decision-making. Developing more sophisticated automated trading strategies is also available through more advanced expert advisors (EAs), which are easily integrated into MT5. Customers can seamlessly create custom trading robots in the proprietary MQL5 coding language.

To offer an elevated trading experience, MT5 delivers 21 timeframes and 80 built-in technical indicators. Users can analyze up to 100 charts simultaneously. Cross-platform trading is also available to MT5 users who can either load the software directly in their browsers or install the platform on their desktop and mobile devices. Whether traders choose the Standard or Raw account option, they will be able to use the MT5 platform.

TradingView

Clients who choose to trade with the Standard account type at Eightcap can also resort to TradingView, a popular software enabling advanced social trading by providing a great global trading community. TradingView is available to registered customers of the EU, UK, and offshore divisions of the broker.

In addition to presenting easier idea sharing between fellow members of the community, this platform also provides advanced charting tools, technical indicators, and smart drawing tools that enable easier market analysis. With 9 timeframes, over 15 customizable chart types, 100+ technical indicators, and over 90 advanced drawing tools, TradingView users can take their trading experience to the next level. One can access the platform directly in their preferred browser or install the TradingView app on their Android or iOS device.

Copy Trading with Eightcap

While Eightcap does not provide a proprietary or dedicated copy trading platform, it is possible to copy trades of signal providers via MT4 or MT5. To identify the traders worth copying, you can check the list of successful signal providers on the official MetaTrader website.

TradingView is more suitable for social trading, which allows you to share your ideas with fellow traders or learn some new strategies from other members of the TradingView community. While there are third-party platforms that can be utilized for copy trading on TradingView, Eightcap does not offer this option directly.

VPS Hosting

UK traders eligible for Eightcap Pro accounts will also have access to ProVPS, which enables extremely fast order execution with reduced latency. Additionally, the third-party VPS hosting provider FXVM offers Eightcap members access to advanced trading, with an average latency time of one millisecond. The Equinix server of this VPS is hosted in Tokyo, facilitating extremely fast order execution, taking under 60 seconds for the VPS to go online. While this is a paid service, traders can make use of a free trial that will allow them to test the product and decide whether it is suitable for them.

Mobile Trading Platforms

MT4 and MT5 Mobile Apps

If you have created your Eightcap account and have chosen to trade either with MT4 or MT5, you can download the respective platform’s dedicated app on your iPhone or Android-based device. That will grant you easy access to the full set of order types, technical indicators, and timeframes available on MT4 and MT5.

TradingView Mobile App

The popular social trading platform also has a dedicated app that can be installed on Android and iOS devices, allowing Eightcap members to analyze markets, use advanced charting tools, and place orders on the go. From what we gather, the broker has yet to release native applications for iOS and Android devices.

Trading Instruments

When it comes to the selection of tradable instruments available at Eightcap, you can easily diversify your portfolio as here you have access to all popular asset classes. Boasting a trading library of over 800 CFD products, Eightcap prices up markets for Forex, commodities, indices, cryptocurrencies, and stocks.

Naturally, the list of stock CFDs is the most extensive, but other asset classes also offer a decent number of tradable markets. Since all products are traded as CFDs, you do not own the underlying assets but can take both long and short positions on the price of each instrument.

Forex

When it comes to Forex trading, Eightcap offers over 50 popular currency pairs you can trade on any of the third-party platforms supported by the broker. Major pairs like EUR/USD, GBP/USD, and AUD/USD comprise a small number of the currency markets tradable at Eightcap, with spreads starting from 0.0 pips with Raw accounts.

The smallest contract size for Forex trades at Eightcap is only 0.01 lots, while the maximum is capped at 40 lots. As for the leverage available to Forex traders, the maximum ratio varies depending on the regulator overseeing the operations of the Eightcap entity you have registered with.

To be fully compliant with the requirements of the CySEC, FCA, and ASIC, Eightcap offers maximum leverage of 1:30 on major currency pairs and 1:20 on minor pairs. Since these limits apply only to retail traders, customers eligible for professional accounts can access higher leverage ratios of up to 1:200. Much higher leverage is also available to traders who have registered with the SCB-regulated entity of Eightcap, with maximum ratios reaching 1:500 for currency pairs.

Commodities

Eightcap customers can dip their toes in over a dozen commodity CFDs, including precious metals and energies traded against the US dollar. The minimum spread on assets like spot Brent and WTI oil is $0.3 per micro lot, while XAG/USD and XAU/USD can be traded with a minimum spread of $1 and $0.12 per micro lot, respectively.

The contract size when trading commodity CFDs at Eightcap can range between 0.01 and 100 lots for crude oil and XAG/USD. Meanwhile, the trade size for other commodity CFDs ranges from 0.01 to 50 lots. The maximum leverage traders can use is capped at 1:10 under FCA, CySEC, and ASIC and 1:100 at the SCB entity. The only exception is gold, which can be traded with leverage of up to 1:20 at the FCA, CySEC, and ASIC divisions. Meanwhile, the Bahamas-regulated website offers maximum leverage of up to 1:500 for gold CFDs.

Indices

If you prefer CFDs on major and minor indices, Eightcap has prepared 17 products tradable on the three supported third-party platforms (MT4, MT5, and TradingView). Spreads on indices like US30, UK100, and DAX40 can start from as little as 16 points, 12 points, and 1.5 points, respectively. The contract size for index CFDs ranges between 0.01 and 25 lots.

Those trading via the European and Australian entities have access to maximum leverage of 1:20. The SCB-regulated entity allows for higher ratios of up to 1:200 for indices.

Shares

At Eightcap, traders can choose from an extensive list of hundreds of stock CFDs, all available on the MT5 and TradingView platforms. Spreads on stocks are calculated using a Direct Market Access pricing model and a $2 commission is charged per side, per standard lot. Keep in mind that this commission applies even if you trade stock CFDs with a Standard account. The minimum order size is 0.01 lots, while the maximum varies based on what you trade. No matter the entity you have registered with, the maximum leverage available on share CFDs is capped at 1:5.

Cryptocurrencies

Over 100 popular and emerging crypto coins can also be traded at Eightcap as CFDs, allowing speculation on this highly volatile market without actually purchasing any crypto assets. Compared to other brokers, Eightcap offers a significant number of tradable cryptocurrencies. Crypto traders will benefit from competitive spreads starting from 170, 20, and 5 pips for Bitcoin, Ethereum, and Cardano, respectively.

The minimum trade size is 0.01 lots for major coins like Ethereum and Bitcoin, while the maximum depends on the underlying digital asset you trade. The maximum leverage available to crypto traders is capped at 1:20 under the SCB division. Meanwhile, the Eightcap entities regulated outside the Bahamas impose a leverage cap of 1:2 on crypto CFDs. Retail customers from the UK cannot engage in derivative crypto trading due to local regulatory restrictions imposed by the FCA.

Trade Execution

To offer its customers full transparency and competitive prices, Eightcap has adopted a no-dealing desk (NDD) order execution model. This means that orders do not pass through an internal dealing desk, as is the case with market makers, but rather through third-party liquidity providers, ensuring tighter spreads. Orders are executed by other traders taking the opposite side of a trade. That means there is no conflict of interest as the broker does not trade against its customers.

As already mentioned, Eightcap offers a Raw account option, which is a clear indicator of an NDD order execution model. Raw accounts typically rely on ECN/STP execution, which results in faster order processing and lower variable spreads that are constantly changing based on current market conditions. According to information available on Eightcap’s website, the broker utilizes an ECN model for its prices.

Stock CFDs are traded using the so-called Direct Market Access (DMA) pricing model where traders have direct access to the underlying exchange’s order book. Orders are directly sent to the exchange instead of being processed by a broker’s dealing desk. The DMA is a commission-based pricing model that offers a greater transparency to traders.

Deposits

Onboarding traders must first activate their live accounts by depositing money. Whether you choose a Standard or Raw account, you must comply with a minimum deposit requirement of $100.

Since Eightcap is a truly global brand, it caters to the preferences of different traders, allowing its clients to set up their trading accounts in the following base currencies:

• AUD
• USD
• EUR
• GBP
• NZD
• CAD
• SGD

Traders can resort to various payment solutions for their Eightcap deposits, with the majority of methods facilitating instant account funding. As Eightcap knows that non-trading fees can be burdensome, it enables free deposits with all supported payment methods. That said, some third-party payment service providers may impose fees on transactions to your Eightcap account.

As for the payment solutions available to Eightcap members, the broker accepts deposits with an extensive list of region-specific and global options. Below is a table with all supported deposit methods and their processing times.

Withdrawal Methods

Withdrawals at Eightcap are returned to the same card, e-wallet, bank account, or payment service traders have originally used for their deposits. Withdrawals with some methods have no limits on the minimum and maxing cashable amounts, as is the case with Visa and Mastercard. Some methods are supported for deposits only, but customers can easily withdraw from their balance via bank transfers.

The minimum required withdrawal amount is $25 for bank transfers and instant banking services. The other supported options require withdrawing at least $50. The good news is that the broker generally does not impose fees on withdrawals, no matter the method used for the transfer of funds. However, traders should be aware of any potential surcharges from the respective third-party service provider. The sole exception are wire transfers which may attract an additional fee of $/€8 at the Cyprus-licensed entity. We should also note that there is a withdrawal request approval time, which may range between 1 and 5 business days. Once the transaction is approved, the processing time depends on the service used for the withdrawal.

Customer Support Contacts

Traders can use multiple contact channels when requiring help with their accounts, orders, payments, or any other aspect of their experience at Eightcap. You can get in touch with the friendly support team of Eightcap via:

1. Live Chat: If you wish to contact a support agent and resolve your issues within a few seconds, you can use the live chat service of the broker. The only downside is that it is not available 24/7.
2. Telephone Contact: If you want to speak to a support agent, you can call +61 3 8592 2375 to get in touch with the offshore division or +357 25 060 006 for the CySEC entity. A support representative will respond within a couple of minutes.
3. Email Support: If you are not in need of urgent help or simply do not wish to speak directly to an agent, you can send your query via email. The support team will send you a proper response within a few hours. You can send your emails at global@Eightcap.com. Customers from Europe can email their queries at support@eightcap.eu.
4. FAQ: Before contacting the support team, you may also take a look at the FAQ section where you can find useful information on numerous topics related to trading with the broker.

Research and Educational Materials

If you are a beginner and do not feel confident in your skills, you can start your journey at Eightcap by simply studying more about trading. The broker offers educational content that can be very useful for both inexperienced traders and experts looking to advance their knowledge. In addition to the education hub at Eightcap, traders can also access a set of tools, which enable easier market analysis. The broker offers the following research and educational materials:

• Eightcap Labs: An educational platform, offering trading guides, e-books, various insights, webinars, and plenty of learning materials for both novices and more experienced traders.
• AI-Powered Economic Calendar: Provides historical market data, helping Eightcap clients develop their trading patterns and strategies.
• Capitalise.ai: A tool that optimizes automated trading, allowing customers to create automated strategies by using preset conditions or numerous templates in the Capitalise.ai library.
• FlashTrader: When activated, this tool will automatically choose stops and profit targets on every order, allowing traders to focus on their strategies.

Security and Money Guarantees

When trading with Eightcap, customers can be certain their funds will be protected using industry-standard security tools and AML-compliant measures. The ASIC, FCA, and CySEC-regulated entities have all adopted the following mandatory customer protection measures:

• Negative balance protection for retail clients
• Funds segregation
• Investor compensation

While the SCB is less strict about the consumer protection policies implemented by its licensees, the Eightcap entity regulated in the Bahamas is still required to comply with AML and CTF (Counter Terrorist Financing) guidelines, guaranteeing a secure environment for its clients. What is more, the broker publishes disclaimers about the potential risks related to Forex and CFD trading, especially when using leverage.

Under CySEC regulations, clients eligible for investor compensation can receive up to €20,000 as collateral. Traders who have registered with the FCA-regulated entity are eligible for a compensation of up to £85,000 per person if the broker declares insolvency.

Conclusion

The team of reviewers at BestBrokers is positive that Eightcap is a suitable option for most types of traders. Regulated by several top-tier authorities, the broker is fully compliant with their strict customer protection rules and guidelines.

The ECN pricing model ensures fast order execution and fair prices. Forex traders who opt for Raw accounts will benefit from extremely tight spreads that start from as little as 0.0 pips on major currency pairs. The absence of hidden fees and the low commissions further contribute to the competitive trading conditions at Eightcap.

Facing multiple payment options, traders can instantly top up their accounts at no extra cost. While there is a mandatory $100 deposit minimum for both account types, we believe this is a very reasonable limit that generally aligns with the initial requirements of many rival brokers. Trading in micro lots is available on all financial instruments, which positions Eightcap as an affordable option for traders at all levels.

Written by N. Nazifova