In this detailed EightCap Broker Review, we will review each aspect of the EightCap broker to see if this broker is a legit broker. Below is the summary of the EightCap Broker.
Summary
Assets Available | 5 Asset Classes – Forex, Crypto, Stocks, Commodities and Indices. |
Regulated By | ASIC, CySEC, SCB, FCA |
No. Of Trading Platforms | 3 Trading Platforms – TradingView, MT4, MT5. |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips |
Commission | From 0% |
Min Deposit | $100 |
Demo Account | Yes |
Education Provided | Trading courses provided |
Methods of Payment | Credit/Debit Cards, Bank Wire Transfer, Neteller, Skrill, POLi , China UnionPay |
Open Account |
Top CFD Brokers
Best for Low Spreads | Best for Speed | Best for High Leverage |
 Fusion Markets is one of the top brokers that provide traders with low spreads (Risk warning: 76% of retail CFD accounts lose money) |  BlackBull markets is a great broker that provides traders with fast executions speeds. (Risk warning: 76% of retail CFD accounts lose money) |  Exness is a highly regulated broker that is best for high leverage trading. (Risk warning: 76% of retail CFD accounts lose money) |
Broker Background
EightCap is a globally recognized online broker established in 2009 and headquartered in Melbourne, Australia.
Regulated by leading authorities such as the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA), EightCap provides access to over 800 CFDs across various financial instruments.
Trading Platforms
The EightCap broker provides traders with 3 main trading platforms. These are, MetaTrader 4, MetaTrader 5, and TradingView trading platform.
MetaTrader 4
MetaTrader 4 (MT4) is a powerful trading platform available across web, mobile, and desktop. Its user-friendly design serves both new and seasoned traders. Equipped with essential tools for market analysis and trade execution, MT4 excels in supporting algorithmic trading.
MetaTrader 5
MetaTrader 5 (MT5) expands upon the strengths of MetaTrader 4 (MT4). It provides an extended selection of technical indicators, broadening your trading potential. Like MT4, MT5 supports algorithmic trading, making it a flexible platform for diverse trading strategies.
TradingView
TradingView is one of our favorite trading platforms. This trading platform provides the best trading interface and one of the best set of tools to analyze the markets and execute trades. This trading platform supports both web and mobile trading.
EightCap is one of the few brokers supported by the TradingView trading platform, which is an advantage of using EightCap broker.
Instruments Available For Trading
The EightCap broker offers traders with 5 different asset classes. These are Forex, Shares, Commodities, Indices and Crypto. Across these asset classes there are over 800 tradable instruments.
Forex
EightCap broker provides access to a diverse range of Forex pairs, encompassing major currencies, cross-currency pairs, and exotic options. This broker provides relatively low spreads on Forex pairs
Shares
EightCap offers a broad range of Share CFDs, allowing traders to speculate on the price fluctuations of shares from numerous companies listed on major international stock exchanges.
Cryptocurrency
This broker provides access to diverse Crypto CFDs, enabling traders to speculate on price fluctuations of leading digital assets, including Bitcoin and Ethereum.
Commodities
Traders can access a variety of Commodity CFDs through this broker, allowing them to speculate on price movements in precious metals (gold, silver), energies (oil, natural gas), and other essential commodities.
Indices
EightCap broker offers traders access to a range of major global indices such as US30, ASX200, and UK100, allowing them to speculate on the overall performance of these key markets.
Regulations
Eightcap Broker is a highly regulated broker that is regulated by 4 different Regulators across 4 different countries. Eightcap Broker is regulated by:
- Australian Securities and Investments Commission (ASIC)
- Cyprus Securities and Exchange Commission (CySEC)
- Securities Commission of The Bahamas (SCB)
- Financial Conduct Authority (FCA)
Live Trading Account Types
The EightCap broker provides 3 main account types for live trading. These are,
- Standard Account
- Raw Account
- TradingView Account
Commissions And Spreads
The commissions and spreads depends on the account type. For the standard account, the spreads starts from 1.0 pip and no commission is charged. For the raw account, the spreads starts from 0.0 pips for forex pairs and the commission charged is $3.5 per side. For the TradingView account, the spreads start from 1.0 pips and no commission is charged similar to that of the standard account.
The table below shows the comparison of EightCap broker with other brokers for the low spread account.
| EightCap | Fusion Markets | Exness Broker | |
| Commission | $3.5 per side | $2.25 per side | From $0.05 per side |
| Spreads | from 0.0 pips | from 0.0 pips | from 0.0 pips |
As seen from the comparison the commission charged by the EightCap account is low but not the lowest in the industry.
Leverage
The EightCap broker provides a maximum leverage of up to 1:500 depending on the country you are trading from. The table below shows the comparison of this leverage with other brokers.
| EightCap | Exness Broker | XM Broker | |
| Leverage | 1:500 | 1:2000+ | 1:888 |
As seen from the above table, the EightCap broker is not the best for high leverage trading.
Education Provided
The EightCap broker provides EightCap Labs. EightCap Labs include trading fundamentals, eBooks, guides and trading strategies. The figure below shows a part of the EightCap labs.
Minimum Deposit
To open an account with the EightCap broker you require a minimum deposit of $100. This is high compared to many other brokers who doesn’t require a minimum deposit to open an account.
Awards
EightCap broker is an award-winning broker, recognized by few different organizations. In 2024, EightCap was named the Best Crypto Broker in Australia by FXEmpire.
Methods Of Payment (Deposit and Withdrawal)
There are several deposit and withdrawal options provided by the EightCap broker. These are credit/debit cards (Visa and Mastercard), bank transfers, Skrill, Neteller, POLi and China UnionPay. It is important to note that not all these methods are available in every country.
Customer Service
When it comes to customer support, the EightCap broker provides traders with 24/7 customer service. Traders can contact the EightCap broker customer support through multiple contact methods. These are:
- Live Chat
- Phone
Demo Accounts
EightCap provides free demo accounts where you can practice forex trading with virtual funds in a risk-free environment. It’s an excellent opportunity to gain hands-on experience and test your trading strategies without any financial risk. It is important to note that almost all the brokers provide demo accounts for traders.
Pros & Cons
The table below shows the Pro’s and Cons of the EightCap broker
| Pros | Cons |
| Well regulated | Low Leverage |
| Relatively low fees | High minimum Deposit |
| Limited Selection of financial instruments |
Is this broker legit?
Yes, the EightCap broker is a legit broker that is regulated by top tier regulators.
EightCap broker also provide great features for traders as well.
EightCap Alternative Brokers
EightCap is a good broker but there are better alternatives to the EightCap broker depending on your needs. They are the following.
- Exness – Exness Broker is a great broker that provides retail traders, depending on the country, with high leverage of more than 1:2000+. Much higher leverage than the EightCap broker. In addition to this Exness also provides lower fees and lower minimum deposit.
- Fusion Markets – Fusion Markets provides traders with much lower fees than the EightCap broker.
- BlackBull Markets – BlackBull Markets provides traders with faster execution speeds and more tradable instruments than the EightCap broker.
Our Evaluation Methodology
We assess brokers through a comprehensive rating system that involves examining more than 100 data points across key categories. Our approach includes the following:
- Trust and Regulation – We verify each broker’s regulatory status and licenses to ensure they operate under the supervision of credible financial authorities, ideally tier 1 regulators.
- Cost Analysis – We scrutinize trading fees and compare them against industry standards by setting up and trading within live accounts.
- Platform Performance – We evaluate the trading platforms’ functionality, user interface, and available tools by conducting hands-on testing.
- Instrument Availability – We assess the diversity and range of tradable assets offered by each broker.
- Customer Service – We test the accessibility and competence of customer support by reaching out via various channels.
- Transaction Methods – We review the deposit and withdrawal options, focusing on fees and processing times.
- Account Variety – We analyze the different account types, considering their features, minimum deposit requirements, and execution methods.
- Educational Resources – We examine the quality and breadth of educational materials provided to help traders improve their knowledge and skills.
Conclusion
In this article, we reviewed EightCap broker in depth to determine its legitimacy. We concluded that EightCap is indeed a legitimate broker that offers great features for traders but is not ideal for those seeking high leverage trading and the lowest fees in the industry.
