EightCap Review: Expert Analysis 2023

Eightcap is a broker that offers clients a competitive choice of trading accounts and platforms to trade on more than 800 instruments including Forex, commodities, indices, shares as well as 100+ cryptocurrencies like bitcoin. Regulated by top tier financial authorities, the services are mainly geared towards advanced traders but there are some useful tools to link beginner traders as well.

Eightcap 8cap Review
Expert Score:
4.2/5

Eightcap Review

Opening an account with Eightcap was fast and very simple. In addition to their robust suite of Metatrader platforms, FX traders will be able to trade directly from TradingView charts into an Eightcap account with ease.

  • Clients can trade over 40 Forex pairs a wide range of CFDs including up to 100+ cryptocurrency CFDs on either the TradingView, MT4 or MT5 platforms.
  • Eightcap (AKA 8cap) holds top category financial licenses across multiple jurisdiction. Eightcap is licensed in Australia, EU, and UK. It also holds international financial license in Vanuatu. Eightcap Global Limited is regulated by The Securities Commission of The Bahamas
  • The broker offers different investor protections depending on which jurisdiction you open an account with but everything is laid out transparently on the broker’s website which is always good to see.
  • TradingView is a world-class charting package with over 30 million users. Clients like TradingView becauese of their comprehensive financial analysis, live streams and custom indicators.

  • It integrates with the Capitalise.ai, an automated trading platform to help you trade the financial markets. Get access to limitless examples of automated strategies. No sign-up required, you just log in using your Eightcap account.

Eightcap is known For:

Metatrader platforms and plugins geared towards more advanced traders. Capitalise.ai platform that is free for Eightcap customers can be a helping hand for beginners as well.

Eightcap Summary

Pros

  • Multiple regulation
  • Investor protection 
  • MT4 and MT5 platforms
  • Trade directly on TradingView
  • FXBlue plugin
  • Capitalise.ai integration
  • Daily market research
  • YouTube trading Channell
  • Educational webinars
  • Wide range of available cryptocurrencies (CFDs)

Cons

  • No proprietary platform
  • Autochartist is absent
  • Trading Central absent
  • Fewer Forex pairs
  • Eightcap lacks educational quizzes and lesson progress tracking

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Eightcap Performance

Eightcap offers 2 simple choices for account opening. A Standard account type that is commission-free with just spreads payable on a trade and Raw account that is commission based. There are both in-house market research and educational contents delivered through their website, email or via YouTube videos.

4.1/5

Safety of Funds

It holds an Australian Financial Service License (AFSL) with the Australian Securities & Investment Commission (ASIC). Traders from UK will be served with the UK. subsidiary, Eightcap Group Ltd, licensed and regulated by the Financial Conduct Authority (FCA). The EU entity is licensed by the Cyprus Securities and Exchange Commission (CySEC). Eightcap Global Pty Ltd holds regulatory status with the Vanuatu Financial Services Commission (VFSC). For international clients, Eightcap Global Limited is regulated by The Securities Commission of The Bahamas.

4.2/5

Trading Platforms & Tools

Metatrader 4 and 5 platforms available in web, desktop, android and iOS version. FX Blue and Capitalise.ai are notable add-ons. TradingView is available across webtrader, desktop and mobile as well.res.

4.5/5

Minimum Deposit

Minimum initial deposit requirement for both Eightcap’s account is $100.

5/5

Leverages

Maximum leverages on trading services is 500:1 (For international clients), 30:1 (for  ASIC licensed entity).

4/5

Spreads and Commissions

Eightcap offers variable spreads plus a commission based structure. Variable spreads from 0.5 pips on Standard account with no commissions. The Raw account is commission-based with commissions amounting to $3.5 per standard lot traded.

4.8/5

Deposit and Withdrawal Method

Credit card, debit card, Cryptocurrencies, China UnionPay, Bank Transfer, Neteller, BPAY, Skrill, POLi.

Eightcap Transparency

Eightcap is a company that has multiple offices in Australia, EU, UK, Vanuatu and Bahamas. The enterprise provides information on investor protection and financial offerings.

Conclusion

Eightcap holds license from top category regulatory jurisdictions such as Australia, EU and UK. In addition to its rich Metatrader portfolio, the broker allows trade directly from TradingView charts into an Eightcap account. The broker is transparent on its dealings as it provides information on its trading services and clients’ protection details.

Overall:
4.2/5

2023 Expert Analysis

Here at the Forex Broker Expert, we have reviews of more than 200 Forex brokers and trading software. The number one item we check when reviewing a broker to see if they are a scam is a safety score. We use a Safety score algorithms to asses risk level. They major criteria we use in grouping a Forex broker in to risk levels include total years in business, which regulatory licenses each firm holds, is the broker publicly traded in any stock exchange as well as our manual in house check.

Different Forex brokers offer different account types which goes by different names like standard, classic, premium, VIP or gold. The most popular minimum deposit for a Forex basic account is $250. Leverages can go as high as 1:200. As for the pips charged on these accounts, EURUSD is usually the pair with the lowest spread and the ideal thing is that each type of account is unique and will either have fixed or floating pips depending on which account portfolio you have chosen. Learn more about the industry best prectices here.

About Our Team

Firstly, congratulations on doing your research and due diligence! we’re dedicated to helping you get started trading online and have your own forex account. Most importantly, we want to help you make a success of it. Since starting up in 2010, we’ve connected hundreds of thousands of readers to the right forex trading platform for their needs.
We do this through conducting our own research. We’re constantly testing (and re-testing) the most popular forex brokers on the market to give you completely impartial advice about every single broker we feature on our site. We even get people just like you to give them a go and give us their feedback.
Our aim is to provide you with the very best information so you can make an informed decision about which forex broker is best for you – and feel happy with your choice!

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