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Eightcap Review 2024: What Works and What Could Be Better

In this Eightcap Review, we take a detailed look at this an Australian financial services provider that has been providing trading solutions to clients all around the world since 2009.

Regulation and licensing

Eightcap has obtained operation licenses in different jurisdictions across the world, and is overseen by the following regulators: ASIC in Australia, FCA in the United Kingdom, CySEC in Cyprus, and the SCB in The Bahamas. Notably, the company’ clients in the UK (FCA) and under CySEC jurisdiction have access to an investor compensation fund.

Opening an Eightcap account

Opening an account on Eightcap is an easy process that mirrors the typical industry procedures, and takes a few minutes. The account verification process has to comply with the normal checks outlined by regulators, key among them being compliance with Anti Money Laundering (AML) and Know Your Customer (KYC) requirements. This, typically takes between a few hours and less than a day.

Tradeable instruments

Eightcap has a selection of multiple assets, including 40+ Forex currency pairs, 100+ Cryptocurrency pairs, 660+ Stocks – 660, 11 Indices and 4 Commodities. Notably, Eightcap supports trading in cryptocurrencies through contracts for difference (CFDs), meaning that you cannot trade crypto directly.

Eightcap Account Types

Eightcap demo account

Eightcap has 30-day demo account that gives users access to trading using paper money only. That being said, you can get an extension on your Demo account timeframe if you contact customer service and ask for the same. The Demo account is useful for traders of all skill levels, whether they are newbies learning to trade or experienced traders testing their trading strategies.

Live account

Eight Cap provides two different accounts, the Raw Account and the Standard Account, for real-life trading. An important distinction between the two is the pricing system. Those with Standard accounts incur charges on spreads, while those with Raw accounts pay commission fees. Any trades executed on the raw account will incur a commission of $3.50 per side or $7.00 for every round trade.

Deposit and withdrawal

You can fund your Eightcap account using a variety of methods, including major credit cards, debit/credit cards, Skrill, PayPal, Neteller, and a host of local payment options. The funds typically get deposited into traders’ accounts instantly. However, there may be a delay in processing times for certain deposit methods, such as wire transfers.

Commissions and fees

Traders on Eightcap have the option to choose between a commission-based Raw account and the Standard account, which is spread-only. Commissions for raw accounts begin at $7 for each round trip, which is applicable to both entering and exiting a trade. At zero pip, its minimum spread begins. However, minimum spreads for the regular account begin at 1 pip and there is no fee charged.

Eightcap Spreads

For the Raw account, the broker states that the average spread is 0.06 pips. However, if we that translates to about 0.76 pips in total cost, inclusive of $3.50 per side commission. That figure is still slightly less than the industry average of 0.8 pips.

Eightcap Trading platforms

Eightcap supports trading on the popular MetaTrader 4 and MetaTrader 5 platforms. Also, it integrates third-party platforms, including TradingView and Capitalise.AI.

  • MetaTrader 5: Eightcap’s MT5 account enables traders to trade with 21 different time frames and they have access to 80 different indicators.  On this platform, one can trade on a wide variety of financial instruments, including cryptocurrencies, indices, commodities, shares, and mobile and desktop web trading.
  • MetaTrader4: On the Eightcap MT4 platform, you get to trade in forex, cryptocurrencies, indexes, and commodities. The platform has 9 time frames, 30 pre-installed indicators, and multiple instruments.
  • TradingView: Eightcap has integrated TradingView and you can trade directly from your charts into your Eightcap account. TradingView has a wealth of trading tools, including an advanced charting package, custom indicators and automated trading.
  • Capitalise.AI:  This tool enables traders without coding skills to automate their trading strategies. Users have access to a comprehensive strategy library where they may find pre-defined templates or build elaborate automated systems to manage trades. In addition, Capitalise.AI enables traders to backtest, develop trading bots, and set up price alerts even without having coding experience.

Smartphone users can access the MT4 and MT5 apps on both iOS and Android. Furthermore, these platforms are compatible with the TradingView mobile app and BK Crypto Crusher, which is accessible to clients with a minimum deposit of $500. Additionally, it is compatible with Capitalise.ai, which means you may use your MetaTrader 4 (MT4) account with algo trading software.

Supported languages

Eightcap offers its trading services in multiple languages, including English, Chinese, Arabic, Czech, French, German, Greek, Hindi, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Thai, Turkish, Ukrainian, and Vietnamese.


The educational offering on Eightcap provides a diverse range of written materials, but the number of video tutorials is relatively low. Additionally, its YouTube account has a collection of old webinars that are categorised by playlist. Additionally, the broker provides trading day highlights on their market analysis page.

Eightcap customer support

Eightcap offers customer support through multiple channels, including via phone calls, email, and online chat. You can reach out to the customer service 24/5 and they will attend to you in any of the following languages: English, Chinese, Bulgarian, French, German, Portuguese, Spanish, and Vietnamese.

Eightcap Pros and Cons


  • Available on MT4, MT5, and integrates TradingView Zero deposit fees.
  • Licensed in multiple jurisdictions.
  • Option to pay for trades via spreads or commissions.
  • Offers services in multiple languages


  • It does not offer ways to earn passive money, such as joint accounts, copy trading, or referral programmes;
  • Restriction of certain services in some regions.
  • Technical support is not available during weekends.

In conclusion

Eightcap has built a strong reputation in the brokerage world due to the quality of its service and low spreads. However, there are some areas in which it still trails industry leaders, such as the lack of passive revenue opportunities like a referral program. This restricts users from earning only through active trading. However, its licensing in multiple jurisdictions and long experience in the market is a key indicator of strength and reliability.