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Eightcap Review, Rating and Comparison

Eightcap Forex Review, Rating and Comparison

RATING: 3 / 3 REVIEWS ForexBrokerz Eightcap


Trading Accounts


Account type Minimum deposit  Minimum trade size Maximum leverage Average Spreads
Standard $100 0.01 1:500 1.2 pips
Pro $100 0.01 1:500 0.5 pips + $3.5 NDD


EightCap offers its clients a choice of two live account types: Standard commission-free one, and Pro account with tighter spreads, but involving commission.  Both account types offer maximum leverage of 1:400 and trading in micro lots on the most popular trading platform MetaTrader 4.


In addition, the brokerage also provides account management services and operates the brand FX Stream.


The Company. Security of Funds





EightCap Pty Ltd.




Established in 2015, EightCap is an Australian forex and binary options brokerage with offices in Melbourne and Shanghai. The company behind the brand is EightCap Pty Ltd., a Melbourne-based company, regulated by the Australian Securities and Investment Commission (ASIC).


ASIC requires licensed financial services providers to meet strict capital requirements (at least $ 1 million) and to comply with various internal procedures for risk management, accounting and audits. Besides, regulated entities are required to report regularly to ASIC.


Australian FX broker regulation, however, does not include any compensation scheme in case a licensed company becomes insolvent. 


Trading Conditions


Minimum Initial Deposit

Traders are required to deposit $100 in order to open an account with EightCap, which is an average initial amount. In comparison, Major broker IG (which also holds a license from ASIC) demands just $1 from its clients as a start.


Average Spreads & Commissions

EightCap offers variable spreads, averaged 1.2 pips on EUR/USD on its commission-free accounts, which is standard for the forex market. Pro accounts, on the other hand, provide typical tighter spreads around 0.5 pips on EUR/USD, but a commission of $7 per standard lot (round turn) applies, so trading costs on both account types appear to be similar.  In conclusion, EightCap’s pricing is comparatively low and competitive.


In comparison, IG offers average spreads of 0.8 pips on EUR/USD on its commission-free accounts and 0.2 pips on DMA ones with commission ranging from $3 to $5. For further information, you may look up real-time spreads of 15 leading brokers here.


Maximum Leverage

Clients of EightCap use leverage ratios up to 1:500, which considered a high ratio. Some jurisdictions cap leverage to significantly lower ratios than this (i.e. 1:50 in the US and the same planned in the UK), because higher leverage involves higher risk of losses in excess of initial investments.


In comparison, IG provides leverage up to 1:200.


Trading Platforms


Like most FX brokers, EightCap supports the most widely used forex platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5).


MT4 provides all the tools and resources a trader needs:  a number of technical indicators, advanced charting package, a wide range of Expert Advisers (EAs) and extensive back-testing environment for them. By using EAs traders may sit back, while the software does all the work, as Expert Advisers allow full automatization of trades.


MetaTrader 5 has kept most of MT4's functionality, but its main advantage is that it enables trading not only on OTC markets, but also in exchange traded stocks.  


What is more, this broker has partnered with Myfxbook to offer AutoTrade – a platform that enables you to track, compare, analyse, share your trading activities and most importantly, copy the trades of any top successful trading systems you select on Myfxbook directly into your EightCap trading account.

In order to be able to use the AutoTrade service, your account must have a minimum deposit of at least $1,000.



At the time of writing this review, EightCap runs a Refer a Friend cash bonus of $100 for each referred person who opens a live account.


Methods of Payment


EightCap offers its clients a variety of deposit/withdrawal methods: Credit/debit cards, bank transfer and e-wallets POLi, Skrill, and China UnionPay.


Note that Debit/Credit card refunds can take between 3 – 20 business days from the date of processing to appear on your card statement.




EightCap is a well-regulated Aussie broker, offering competitive conditions for trading in a wide range of currency pairs, commodity and index CFDs, as well as precious metals, on the MT4 and MT5. To sum things up, here are the advantages and drawbacks with regards to EightCap:


Pros Cons
ASIC-regulated  We couldn't find any significant ones
Competitive spreads & overall cost of trading  
MT4 and MT5 available, plus AutoTrade  
Promotions available  


Latest news about Eightcap
No news about Eightcap. Check back later.
Broker Country Regulation Platform Min Deposit Review
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for Eightcap
















Price feed















Customer service










Good option with MT5

Just switched to MT5 from 4 after 3 years on MT4. Issue with Eightcap currenlty is I can't access US shares but i'm told they'll be bringing them on shortly. Eightcap have improved a fair bit over the years and is now becoming a much stronger option for me. I'll still only trade fx pairs and indices with them. I've made strong profits on trading indices with them and now need to continue this on MT5.

Luca Alfonsi 03/25/2019

Trading Cowboy

I'm testing out a couple of different brokers at the moment to compare spreads and speed on different product. IC has my fx trades and EightCap takes my silver and gold positions. No complaints for Eightcap for the last 5 months. Healthy profits and and decent stack of technology. I'd give them a 7/10 and IC a 7/10 also.

Matt Dusting 03/21/2019

Quality support

Been following the FRA40 for a couple of years and trading selected individual stocks in France and Aus. EightCap doesn't offer stocks outside of Australia. Taking my time with them over the last 6 months and have been making consistent profits via MT5 with EightCap. New Aus Shares access is great allow me to trade a suite of shares. Have been chatting to EightCap about getting access to US stocks which i'm told will be available in the future. No complaints from me, successful trading and quality support.

Tom Brown 03/15/2019

Warning Read this before using this broker

Future clients be aware took a month for any formal action to client and is now in dispute " Bad Tick" issue which also impacted us as a client. Eightcap acknowledged in email and in this transcript of issue . I know this has impacted many others . Make sure you read this if your a new customer...

Below is a copy of transcript for privacy reasons I have removed the names of the account holders client and the person on chat .

Chat started on 22 Oct 2018, 10:32 PM (GMT+0)
(10:32:52) *** Client joined the chat ***
(10:32:53) Client: I'm am registering a complaint with your system which has impacted my accounts this morning. This seems to be a major issue and I would like it investigated. I would like an answer today. I am no doing a comparison against all losing trades. on my accounts
(10:33:01) *** Support Eightcap joined the chat ***
(10:33:26) Support Eightcap: Hi
(10:33:33) Client: GBPNZD pricing spike on your system which is not on the market ?
(10:33:58) Support Eightcap: We have had a bad tick come through and we are in the process of fixing this. Your trades that were affected will be re-instated
(10:34:06) Client: Visitor uploaded: GBPNZDchartEightCap.PNG URL: Type: image/png Size: 14846
(10:34:11) Client: Visitor uploaded: FXStreet.PNG URL: Type: image/png Size: 23976
(10:35:19) Client: I believe this is not the first time this has happened and I am requesting a full review on all trades for the past month
(10:37:34) Support Eightcap: At rollover we do sometimes experience this type of behaviour which is why we block the first 5 minutes of the trading day on Forex pairs from Tuesday-Friday. Unfortunately as this came through on the 23:59 candle it has affected trades. We understand this and are working to solve the problem
(10:38:57) Client: This has occurred several times in the past month . I will give eight cap the opportunity to review all trades and respond within 5 days. Otherwise, I will be lodging a formal complaint with FOS. I would like a manager to call me today please
(10:41:59) Client: This has now caused a margin call and affected all my accounts . This is not just this pair
(10:43:40) Client: This has occurred previously and has affected my total accounts and I have now lost over 100'K
(10:44:58) Client: more than 150K on my accounts, I am requesting a full review within the next 5 days.
(10:45:40) Support Eightcap: I understand your frustration and as I said we are looking into it
(10:46:20) Support Eightcap: I understand the nature of this and how it has affected your accounts.
(11:01:53) Client: This appears to have occurred on 1st Oct, 8 Oct, 11th Oct ,12, 16th 18 Oct ,22nd Oct, Thanks for understanding the impact and I will allow you to investigate . But I believe now this has been happening for months .
(11:06:03) Support Eightcap: As I said, at this stage we are working to resolve this issue as we speak. It has affected a few clients. I appreciate your patience at this time
(11:18:49) *** Client has commented: Thanks for understanding the impact this has impacted my entire accounts and all my trades and has caused my account to go into margin call closing other trades. I will allow eight caps the time to respond. As identified this is a systemic problem which appears to be a recurring problem ***
(11:18:52) *** Client left the chat ***

(11:01:53) I: This appears to have occurred on 1st Oct, 8 Oct, 11th Oct ,12, 16th 18 Oct ,22nd Oct, Thanks for understanding the impact and I will allow you to investigate . But I believe now this has been happening for months .
(11:06:03) Support Eightcap: As I said , at this stage we are working to resolve this issue as we speak. It has affected a few clients. I appreciate your patience at this time

This has not been resolved by Eightcap despite initial attempts to contact Director of Compliance

Called a small client , I had a 600k investment with them and its now in review , Lodged with AFCA , ASIC . Many other clients impacted.
Make sure you understand the company and structure, Look up ASIC Documents of ownership of companies .

Darkey 02/20/2019

Great leverage up to 500:1

I've been trading for a couple of years now and have tried out many European brokers. These guys have made a difference for me. A reliable broker, with great execution. Plus, I've never had any issues with withdrawals.

James Ward 02/01/2019

Trading GBP/USD

I originally started trading with EightCap through an Australian education resource called LTG Gold Rock. Been working with the EightCap team for 10months now and really enjoying my experience. I''m working on the gbp/usd at the moment having a create amount of success. I branched out to trading the US30 but took a hit early which has scared me off. Finding my existing pound strategy really profitable and EigthCap has been supportive along the journey.

Matthew Jardine 01/24/2019

UK 500:1 Leverage

Eva has been great to deal with so far. I had a little trouble early as I started on MT4 and then wanted to move to MT5 but got my account sorted out within a week. Have been scalping across a few markets with success over the past 2 months. Was able to access 500:1 leverage through EightCap which is a plus.

Daniel Richards 12/12/2018

Doesn’t pay out IB rebates

Blew out our clients over $1 million by fake pricing and refused to pay our IB agreement commissions

Chris cooper 11/29/2018

Doesn't pay profits

I was trading with Eightcap for nearly 6 month always took my deposits with no issue but only when I a make withdrawal they freeze my account and call to say I have violated there trading policy and refused to withdraw my $83,000.00 because I used an indicator I can still see my money in my account but I cant withdraw it

Simon 11/17/2018

Using this broker for a month, no issues as of yet. Spreads are good, customer service is quick.


Simon Lim 09/25/2015
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