Pros
  • deposit and withdraw via a debit/credit card, bank transfer and cryptocurrency
  • Narrow spreads both on Raw and Standard accounts
  • Access to trading on МТ4, МТ5 and WebTrader platforms
  • High leverage of up to 1:500 on major currencies
Cons
  • Minimum deposit on all standard accounts
  • No cent accounts

Reviewed broker: Eightcap

Established in 2009

Location: Australia

Regulation: Securities Commission of The Bahamas SCB, Australian Securities and Investments Commission ASIC, Financial Conduct Authority FCA United Kingdom, Cyprus Securities and Exchange Commission CySEC

ECN: yes

STP: yes

No dealing desk: yes

Trading instruments: Forex, Cryptocurrencies, Indicies, Commodities, Shares

Segregated client trust accounts: yes

Latest awards: Broker of the Year 2023 at the Global Forex Awards 

Trading Features and Conditions

Demo account: available for 30 days, but clients may opt-to apply for a non-expiry demo account by contacting Eightcap broker directly

Spread types: fixed, variable

Variable spreads start from 1 pip

Fixed spreads start from 0 pip

Commissions: starting from $3.5 per standard lot traded

Currency pairs: 42

Mobile trading: yes

One click trading: yes

Scaling: allowed

Hedging: allowed

Maximum leverage of 1:30 for Australian clients and 1:500 for non-Australian clients

Minimum trade size: 0.01

No limit on open positions: yes

Available base currencies: AUD, USD, GBP, EUR, NZD

Margin requirement:  If you have no free margin, you will not be able to open any new positions and your current positions will be stopped out. You will be notified via trading platform if your account equity falls below 80% of the required margin. 

Negative balance: your account balance may turn negative if the loss on the positions stopped out exceed your account balance.

Your Forex VPS will come with Eightcap MT4 pre-installed so you can get trading immediately!

Automate your trading.Code-free

Eliminate emotional influence by using automation. Create a solid trading plan based on pre-configured conditions, eradicating human error based on fear, uncertainty, or doubt.

Execute trading strategies that scan the markets 24/7, so you don’t have to. Create automated strategies that will look for triggers based on pre-set conditions, or choose from a vast template library, giving you full flexibility.

Develop automated trading solutions without any coding experience. Base them on macroeconomic events, time-frames, and other technical indicators – coded using everyday English. Or employ the most popular strategies from an extensive template library.

Benefit from backtesting

Improve your trading strategies with a quick, risk-free backtest. Use genuine historical market data to simulate how your strategy performs in a risk-free environment.

Standard Account

Benefit from trading without a commission, with spreads as low as 1.0 pipsStart trading today with a minimum deposit of $100, and a minimum trade size of 0.01 (depending on the instrument). Compatible with EAs.

Raw Account

The Raw account is perfect for either those who predominantly trade forex CFDs, or for a more experienced trader. Enjoy trading with spreads as low as 0.0 pips with a minimum deposit of $100 and a minimum trade size of 0.01 (depending on the instrument). Compatible with EAs.

TradingView Account

With a TradingView account, you’ll become part of the world’s largest trading network, with access to an advanced charting package, proprietary Pine-Script language, daily trade ideas, webinars, custom indicators, and more. Start trading with a minimum deposit of $100, enjoy ultra-low spreads.

Compare Trading Accounts

EightCap Trading Platform

Trading platform: Metatrader 4, MetaTrader 5, TradingView

TradingView

Trade with 15+ customizable chart types, including Kagi, Renko, and Point & Figure. Use up to 8 charts per tab with synchronised symbols, time intervals, and even apply 90+ smart drawing tools.

Gain access to a vast range of leading technical and popular pre-built indicators based on industry-standard formulas. Choose from over 100,000 community-built indicators. Or create your own, using TradingView’s proprietary easy-to-use Pine-Script language.

TradingView gives you the ability to set up alerts on categories like price levels, indicators, and custom indicators. Create at least 10 different types of alert conditions on every category available.

Bridge the gap between theory and practice and find out how to trade effectively – Develop your trading skills and become a better trader with Eightcap Labs.

Experience Enhanced Performance and Convenience with TradingView’s Downloadable Platform

Enhanced Performance: By downloading TradingView, you can experience improved performance and faster loading times compared to using the web-based version.

Offline Access: With the downloaded version of TradingView, you can access charts, indicators, and other features even when you are offline, ensuring uninterrupted analysis and trading.

Dedicated Application: The desktop application provides a dedicated platform for TradingView, allowing for a more focused and tailored experience without the need for a web browser.

Convenience and Accessibility: Downloading TradingView offers the convenience of having the platform readily available on your desktop, making it easily accessible whenever you need to analyze the markets or execute trades.

Key features of MT4

  • Trade FX, Indices and Commodities
  • Mobile & Desktop
  • Award winning platform
  • Instruments in 9 time-frames
  • 30 pre-installed indicators

Key features of MT5

  • FX, Indices, Commodities, Shares & Cryptos
  • Mobile & Desktop, Web Trading
  • Award winning platform
  • Instruments in 21 time-frames
  • 80 pre-installed indicators

With numerous advanced features and trading tools, combined with an intuitive interface, our proprietary trading platform for desktop is everything you need to start trading Forex and CFD.

Real time charts: yes

Why use Capitalise.ai?

Benefit from Capitalise.ai’s full suite of analytics and automated trading tools.

Trade with automation, not emotions

Eliminate emotional influence by using automation. Create a solid trading plan based on pre-configured conditions, eradicating human error based on fear, uncertainty, or doubt.

Seize every opportunity

Execute trading strategies that scan the markets 24/7, so you don’t have to. Create automated strategies that will look for triggers based on pre-set conditions, or choose from a vast template library, giving you full flexibility.

Seamless sophistication

Develop automated trading solutions without any coding experience. Base them on macroeconomic events, time-frames, and other technical indicators – coded using everyday English. Or employ the most popular strategies from an extensive template library.

Benefit from backtesting

Improve your trading strategies with a quick, risk-free backtest. Use genuine historical market data to simulate how your strategy performs in a risk-free environment.

EightCap Review : Payment Options

Minimum deposit requirement with Eightcap is $100

Payment methods: Visa/MasterCard, Skrill, POLi Payment, Bank Wire Transfer, China UnionPay, Avodapay, Neteller, Fasapay

Withdrawals of funds can be requested through your Client Portal area or you can get in touch with your account manager. Withdrawals are processed within 24 hours during business days and you will be able to see the funds in your bank statement within 2-5 days. 

Customer Service

Online chat: available

Email support: yes

Phone representatives: yes

Overall Client Services team is available to help 24 hours a day, 5 days a week. 

Educational Material and Promotions

 At the moment of this EightCap review there was only Refer Friend promotion which entitles you of $100 cash prize if you bring a friend to trade with the online forex broker.

Eighcap lacks any educational material on the website itself, however we were able to access daily market analysis through the broker’s facebook page. 

How was the rating of Eightcap performed compared to other brokers? 

This 2024 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on Eightcap FX broker performance and features. 

Overall our online Eightcap review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online broker Eightcap or you find inaccurate details Eightcap broker review please get in touch with us and the changes will be applied. 

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