Eightcap Review

Eightcap Review


Eightcap is a global CFD and forex broker. Offering both the MT4 and MT5 platforms as well as two competitive accounts plus the mobile app and demo account.


Company Name
Australian Securities and Investment Commission (ASIC)
Melbourne, Australia
US Traders Accepted
Deposit Currencies
Trading Platform
MT4, MT5
Trading Instruments
Online Since
Deutsch,Espanol,French,Bahasa,Italian, Portuhguese
Demo Account
Company Name
Australian Securities and Investment Commission (ASIC)
Melbourne, Australia
US Traders Accepted
Deposit Currencies
Trading Platform
MT4, MT5
Trading Instruments
Online Since
Deutsch,Espanol,French,Bahasa,Italian, Portuhguese
Demo Account

Eightcap is a global CFD and forex broker. Offering both the MT4 and MT5 platforms, as well as two competitive accounts, users can invest in over 1000 financial instruments with competitive trading conditions. This 2022 review can help you decide whether to open an Eightcap account, covering spreads, leverage plus the mobile app and demo account.

Eightcap Overview

Eightcap was founded in 2009 and is based in Melbourne, Australia. The company’s CEO is Joel Murphy and the firm is regulated by the Australian Securities and Investment Commission (ASIC), plus the Securities Commission of The Bahamas (SCB).

Eightcap has offices worldwide with a large multilingual client support team based in the UK, Sofia, Bulgaria, China and Thailand, amongst others. Ultrafast execution is available with zero-pip spreads, as well as access to top-tier liquidity. The brokerage also offers fee-free deposits and payments via popular eWallets in addition to wire transfers and debit cards.

Trading Platforms

MetaTrader 4

The award-winning MT4 platform facilitates online investing in forex, indices, and commodities. With its user-friendly interface, automated trading capabilities, and comprehensive charting package, it’s an excellent all-around platform.

Features include:

  • 9 time-frames, 30 built-in indicators, 24 graphical objects
  • Free-of-charge trading robots with access to Expert Advisors (EAs)
  • 4 types of pending orders, 3 order execution types
  • Real-time quotes in Market Watch
  • One-click trading
  • Historical data
Eightcap MT4 trading platform
MetaTrader 4

MT4 is available to download on Windows, macOS, and Linux PCs.

MetaTrader 5

MT5 is an advanced platform offering trading in forex, indices, shares, commodities, and cryptocurrencies. Users benefit from:

  • 21 time-frames, 38 technical indicators, 40+ graphical objects
  • Automated trading bots with backtesting capabilities
  • 6 types of pending orders, 4 order execution types
  • One-click trading and Advanced Market Depth
  • Financial news and economic calendar
  • Real-time quotes in Market Watch
  • Netting and hedging
  • Community chat
  • Historical data
Eightcap MT5 forex platform
MetaTrader 5

MT5 is available to download on Windows, macOS, and Linux PCs.


Eightcap also offers the Web Trader version of MT5. The web-accessible platform can be opened easily from the broker’s website and has the same range of features as the desktop download. It is a quick and hassle-free way to get connected to the financial markets.


Eightcap has a popular automated trading tool that lets clients program instructions using plain English, for example, buy $1,000 GBP/USD on Tuesday at 15:30 EST. With a slick dashboard and assisted instructions, it’s straightforward to build automated trading strategies for beginners. With no coding skills required, investors can develop simple and complex algorithms free of charge.

Capitalise.ai also offers an extensive list of pre-programmed strategies which clients can test risk-free or tweak to their preferences before pushing live. Check out the video below for more details.

Assets & Markets

Eightcap clients can trade on:

  • Currencies – Trade 40 major, minor, and exotic forex pairs
  • Share CFDs – Trade on 500+ US (NASDAQ and NYSE), UK (LSE), German (EXTRA) and Australia’s most popular companies, including Westpac Banking Corp & Woolworths
  • Index CFDs – Trade 10 of the most popular indices, including the US30, UK100, and SPX500
  • Cryptocurrency CFDs – 250 + crypto pairs with cross pairs and indices
  • Commodities – Trade gold, silver and oil CFDs

See Eightcap’s Product Disclosure Statement (PDS) for more details.

Spreads & Commissions

Spreads are variable, starting at 0 pips for major forex pairs (Raw Account) and 0.4 pips on major indices, such as the SPX500. For gold they start at 0.1 USD, silver at 0.01 USD, whilst oil spreads are 0.03 USD.

Cryptocurrencies have varying spreads from 0 USD for Bitcoin Cash and up to 31.2 USD for Bitcoin. Shares have spreads of 0.02 USD per share, per side (4 USD per lot round turn).

Note that during trading hours with significant volatility some assets’ spreads tend to get higher. This is also true during less liquid periods.

Commissions are charged at 3.50 USD per standard lot on the Raw account and swap rates will apply for overnight forex trades.

Leverage Review

Maximum leverage at Eightcap Pty Ltd is 1:30. Maximum leverage for clients trading with Eightcap Global Ltd is 1:500. This is line with regulatory restrictions.

Details of the margin call process can be found on the broker’s website. Clients can also amend their leverage limits by contacting the broker’s support team.

Mobile App

Eightcap offers a mobile app for both the MT4 and MT5 platforms, which are available on iOS and Android devices. The applications offer all the same features as the desktop platform, with the added benefit of 24/7 access from anywhere.

Once you have your MT4 or MT5 login credentials, simply head to the Apple App Store or Google Play to download the trading app.

Eightcap mobile trading app platform
Mobile App

Payment Methods


Eightcap offers several fast payment options in a multitude of base currencies, all transacted through the Client Portal:

  • PSP (Virtual Account)
  • Credit/debit card
  • Cryptocurrencies
  • China UnionPay
  • PayRetailers
  • Bank Wire
  • Worldpay
  • Fasapay
  • Neteller
  • PayPal
  • BPAY
  • Skrill
  • POLi

All payment methods except for bank wires are free of transaction charges. Eightcap also offers instant 24 hour deposit processing, except for wire transfers, BPAY and PayRetailers, which can take up to 3 days.


After completing a request form through the Client Portal, users can withdraw profits for free, using all of the methods above. The broker aims to process withdrawals within 24 business hours. Clearing times typically take between 2 and 5 business days.

Note that deposit and withdrawal limits are dependent on the payment method. Detailed information can be found in the Client Portal.

Demo Account

Eightcap offers a free demo account that can be opened from the broker’s website. Users have access to 5,000,000 in virtual funds and the same trading conditions as a real-money account, including the same price feed.

Demo accounts last for 30 days by default, however, this can be extended upon request.

Bonuses & Promotions

Eightcap does not currently offer any deposit bonuses or promotions. However, keep an eye on the broker’s website in case new deals are made available. Make sure you check bonus terms and conditions before you start trading.


To protect client interests, the company is independently regulated across two entities: Eightcap Pty Ltd is regulated by the Australian Securities and Investment Commission (ASIC) while Eightcap Global Ltd (Vanuatu) is regulated by the Vanuatu Financial Services Commission (VFSC). Furthermore, Eightcap is an Australian Financial Services Licensee (AFSL). Client funds are also segregated and held at Tier 1 banks, as per the Corporations Act.

Our opinion is that the broker isn’t a scam and their online trading services are legitimate.

Additional Features

Eightcap’s mission is to build a home for MT4 and MT5 traders. The broker offers an in-depth education suite to help both new and experienced investors. Included in this are regular market updates, insights into the trading week ahead, live webinars, CFD and forex investing tips, MetaTrader tutorials and strategy guidance.

Eightcap learning and training

Trading Tools

Eightcap users also have the ability to automate their trades without any coding knowledge. With the use of capitalise.ai, investors have access to automation and analytic tools, including backtesting, loop strategies, smart notifications, and much more.

The online broker has also partnered with TradingView to offer powerful charts and tools. TradingView is a top-rated charting solution with 100 built-in indicators, 5,000+ investor-created indicators, plus 50 drawing tools. Clients can enter and exit positions directly from TradingView’s charts with their Eightcap account.

As well as powerful analysis features, TradingView is one of the world’s biggest social investing networks. With more than 30 million monthly users and active social media forums, investors can swap ideas and discuss strategies and markets.

A few other tools are also provided to investors:

  • Cryptocrusher – signals service
  • Amazing Trader – charting algorithm
  • Forex VPS – ideal for high-frequency traders
Eightcap TradingView tools

Account Types

Eightcap offers two live accounts:

  • Standard – recommended for beginners
  • Raw – recommended for experienced traders

Both account types require a minimum deposit of A$100, come with a minimum trade size of 0.01, and offer a maximum leverage of 1:30 for Australian clients and 1:500 for non-Australian clients.

The main difference between the two accounts is that the Standard account comes with zero commissions, whereas the Raw account charge is A$3.50 per standard lot. They are both available in seven base currencies: AUD, USD, EUR, GBP, NZD, CAD, SGD.


There are several good reasons to invest with Eightcap:

  • Capitalise.ai automated trading solution
  • MT4 and MT5 available
  • Good customer reviews
  • Fast customer support
  • TradingView charts
  • Free withdrawals
  • ASIC regulated


Disadvantages of trading with Eightcap include:

  • Limited time demo account (though this can be extended upon request)
  • No bonuses or promotions
  • No binary options

Trading Hours

Users can trade forex 24 hours a day, 7 days a week. However, global foreign exchange trading hours vary by time zone. Based on AEST, Sydney opens at 7 am and closes at 4 pm, Tokyo opens at 9 am and closes at 6 pm, London opens at 5 pm and closes at 2 am, and New York opens at 10 pm and closes at 7 am. Cryptocurrencies can be invested in 24/7.

Opening hours also vary across other markets with details available on the broker’s website.

Customer Support

Eightcap’s 24/5 multilingual support team can be contacted via:

Keep up to date with the latest news on Eightcap’s social media pages:

The Eightcap PTY LTD headquarters office address is Level 6, 360 Collins Street, Melbourne, VIC 3000 Australia.

Trader Security

Data exchanges are encrypted between the platform and the client servers, using industry-standard 128-bit Secure Sockets Layer (SSL) encryption. Server authentication is also required upon accessing the MetaTrader platforms. 2FA can be added to both the MT4 and MT5 platforms.

To ensure client data protection, Eightcap is fully compliant with the Privacy Act 1988, the Australian Privacy Principles (APPs), and the General Data Protection Regulation (GDPR).

Eightcap Verdict

Operating for over a decade and offering both the award-winning MT4 and MT5 platforms, Eightcap is a respected CFD and forex broker. With competitive spreads, reliable customer support and a free demo account offering, beginners and experts can begin trading with ease. Use the sign-up link below to get started with Eightcap today.

Accepted Countries

EightCap cannot accept traders from certain jurisdictions including the US, New Zealand and Japan.