Eightcap Rating Table
| Factor | Rating | Comments |
|---|---|---|
| Trust and Regulation | ★★★★★ | Multi-jurisdictional regulation, strong security measures |
| Account Types | ★★★★☆ | Standard and Raw accounts available, with TradingView integration |
| Minimum Deposit | ★★★☆☆ | $100 minimum deposit, higher than some competitors |
| Deposit Methods | ★★★★★ | Wide range of options, including e-wallets and cryptocurrencies |
| Withdrawal Process | ★★★★☆ | No fees from Eightcap, multiple withdrawal methods available |
| Trading Platforms | ★★★★★ | MT4, MT5, WebTrader, and TradingView available |
| Spreads and Fees | ★★★★☆ | Competitive spreads, including zero spread options on Raw accounts |
| Instrument Range | ★★★★★ | Wide variety including Forex, Crypto, Commodities, Indices, Shares |
| Customer Support | ★★★★★ | 24/7 customer support available |
| Educational Resources | ★★★★☆ | Comprehensive resources, including MT guides and market analysis |
| Mobile Trading | ★★★★★ | Fully functional mobile apps for iOS and Android |
| Overall Experience | ★★★★☆ | Generally positive, with some areas for improvement |
Introduction
Eightcap, founded in 2009 in Melbourne, Australia, has established itself as a leading global FX and CFD broker. With over 800 instruments available, including 100+ cryptocurrencies, Eightcap caters to a wide range of traders. This comprehensive review will delve into various aspects of Eightcap’s offerings, reputation, and key features for 2024.
Is Eightcap Real or Fake?
Legitimacy and Track Record
Eightcap is a legitimate and regulated broker with a solid track record:
- Operational since 2009, demonstrating over a decade of experience in the industry
- Regulated by multiple reputable financial authorities
- Expanded to five global offices with hundreds of thousands of clients
- Recipient of several industry awards, including “Best Forex Trading Support – EUROPE” and “Best CFD Broker Australia 2022”
Regulatory Compliance
Eightcap maintains compliance with several respected financial regulators:
- The Financial Conduct Authority (United Kingdom)
- Cyprus Securities and Exchange Commission (Cyprus)
- Australian Securities and Investments Commission (Australia)
- Financial Services Authority (Saint Vincent and the Grenadines)
- The Securities Commission of The Bahamas (SCB)
This multi-jurisdictional regulation enhances Eightcap’s credibility and ensures adherence to strict financial standards across different regions.
Trust and Safety Measures
While specific details about Eightcap’s safety measures are not provided in the given information, the broker’s multi-regulatory status suggests a commitment to maintaining high standards of client fund protection and operational integrity. Traders can generally expect:
- Segregation of client funds from company operational funds
- Adherence to strict capital adequacy requirements set by regulators
- Regular audits and financial reports to ensure transparency
Account Types and Minimum Deposits
Eightcap offers two main account types to cater to different trading styles and experience levels:
- Standard Account
- Zero commissions
- EAs and scalping allowed
- Hedging allowed for non-ASIC clients
- 80% Margin Call Level, 50% Stop Out Level
- Spreads from 0.5-1.8 pips
- Minimum deposit: $100
- Raw Account
- Low spreads from 0.0-1.0 pips
- EAs and scalping allowed
- Hedging allowed for non-ASIC clients
- 80% Margin Call Level, 50% Stop Out Level
- Commission: 3.5 AUD/USD/NZD/SGD/CAD, 2.25 GBP, or 2.75 EUR per standard lot traded
- Minimum deposit: $100
Both account types offer:
- Leverage up to 1:500
- Decimal pricing up to 5 decimal places
- Minimum lot size of 0.01
- Demo account availability
- Copy trading support
Additionally, Eightcap offers a TradingView account, integrating the popular charting platform into their offerings.
Deposits and Withdrawals
Deposit Methods
Eightcap provides a wide range of deposit options to accommodate traders globally:
- Credit/Debit cards
- Bank Wire
- E-wallets (Skrill, Neteller)
- Local payment systems (POLi, BPay, China UnionPay)
- Cryptocurrencies
- Other methods: PayPal, Worldpay, Fasapay, PSP (Virtual Account), PayRetailers, Interac, PIX, DragonPay, Help2Pay, Beetleer
Minimum Deposit
- General minimum deposit across account types: $100
- This entry barrier is higher than some competitors but still accessible to many traders
Withdrawal Process
Eightcap strives to make the withdrawal process as smooth as possible:
- Multiple withdrawal methods available
- No withdrawal fees charged by Eightcap
- Specific processing times are not mentioned, but the broker emphasizes easy account management
Trading Conditions
Spreads
Eightcap offers competitive spreads across its account types:
- Standard Account: Spreads from 0.5-1.8 pips
- Raw Account: Spreads from 0.0-1.0 pips with commission
Leverage
Eightcap provides customizable leverage options:
- Maximum leverage up to 1:500
- Leverage may vary depending on the instrument and regulatory requirements
Instruments
Eightcap offers a wide range of trading instruments:
- Forex: Currency pairs
- Cryptocurrencies: 100+ crypto derivatives
- Commodities
- Indices
- Shares: CFDs on individual company stocks
Trading Platforms
Eightcap provides a variety of trading platforms:
MetaTrader 4 (MT4)
- Classic platform with extensive charting tools
- Supports Expert Advisors (EAs) for automated trading
- Available on desktop, web, and mobile devices
MetaTrader 5 (MT5)
- Advanced version of MT4 with additional features
- More timeframes and analytical tools
- Enhanced backtesting capabilities
WebTrader
- Browser-based trading platform
- No download required
TradingView
- Popular charting platform with over 30 million users worldwide
- Advanced charting tools and market analysis features
Mobile Trading
- Dedicated mobile apps for iOS and Android devices
- Allows trading on-the-go with full account functionality
Educational Resources and Research Tools
Eightcap provides a comprehensive set of educational resources:
Learning Center
- MetaTrader Guides: Detailed guides on using MT4 and MT5 platforms
- Fundamentals & Strategies: Information on trading basics and strategies
- Analysis: CFD news, market updates, Forex news, and live webinars
Specialized Tools
- Capitalise.ai: AI-powered trading automation tool
- CryptoCrusher: Specialized tool for cryptocurrency trading
- Forex VPS: Virtual Private Server for consistent trading execution
Demo Account
- Available for practice and strategy testing
- Mirrors live trading conditions
Customer Support
Eightcap offers comprehensive customer support:
- 24/7 customer service
- Multiple languages supported
- Email support with response time within 48 hours
- Personal account manager available
Pros and Cons of Trading with Eightcap
Pros
- TradingView integration
- Code-free automation tools
- Professional trading insights
- Low spread accounts available
- No deposit/withdrawal fees
- Easy account opening process
- Comprehensive educational tools
- MetaTrader 4 and 5 platforms available
- 24/7 customer support
Cons
- No acceptance of US traders
- $100 minimum deposit, higher than some competitors
Conclusion
Eightcap stands out as a reputable broker offering a diverse range of trading options suitable for both beginners and experienced traders. Its multi-regulatory status, competitive trading conditions, and variety of platforms make it an attractive choice in the online trading landscape.
The broker’s commitment to education, transparent operations, and client support instills confidence in its user base. While the $100 minimum deposit may be a barrier for some, Eightcap compensates with competitive spreads, a wide range of instruments, and innovative tools like TradingView integration and Capitalise.ai.
Potential traders should carefully consider their trading goals, risk tolerance, and experience level when choosing Eightcap. As always, it’s crucial to conduct thorough research and possibly start with a demo account before committing to live trading.