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Eightcap Review : Scam Or Legit?

eightcap review
Min Deposit
Min Spread
Max Leverage
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Table of Contents

Eightcap believes it can make the trader’s MT4 trading better. Eightcap is an award-winning broker that is primarily concerned with keeping your trades secure as well as profitable. Eightcap delivers a personalised trading experience, making for an ultra-efficient tech infrastructure for traders to trade on. That’s the reason Eightcap has been awarded the Best Global Forex MT4 Broker 2020 at the Global Forex Awards. In eightcap review, we discuss more about the brokers.

Launched in 2009 in Melbourne, Australia, Eightcap has a straightforward mission – to offer the very best financial services to clients. The fundamental principle stays at the core of all the team at Eightcap does. The team knows staying true to professed aims is basic to success. 

With five offices globally, accredited with regulators worldwide, Eightcap offers clients the opportunity to trade on a wide range of markets across markets, commodities, indices, and shares. 

Eightcap offers a comprehensive look into the quality of its services on its website. 

  • Multi-jurisdictional regulation

The broker is concentrated on shielding client interest. No wonder it has seen to it that sister concerns are regulated; 

  • Best trading environment

The broker is pledged to make your trading experience fault-free. It provides professional trading conditions across a wide product range, including low-latency connectivity and premium pricing ;

  • Personalised service and attention

Eightcap believes in personalising its service to fit the trader’s experience and needs. With ready help from its customer support staff, you will be hitting the ground running;  

  • Intuitive platform

Eightcap understands that trading platforms can be awe-inspiring. That’s why it places importance on how you are introduced to the trading platforms utilized by the broker to serve its clients.

Is Eightcap a scam or not?

Eightcap is a team including top quality industry experts with deep knowledge informing their interactions with clients institutional and retail. The staff shares the same zeal for trading, dedicated to offering superlative service, no matter what the client’s needs and experience level. 

Eightcap Pri. Ltd (ABN 73 139 495 944) is an online financial trading company incorporated in Melbourne, Australia. It specializes in providing Forex and FD trading services to clients. The company is regulated by the Australian Securities & Investments Commission, or ASIC (AFSL 391441). 

MAILING ADDRESS: Level 35, Rialto South Tower, 525 Collins Street, Melbourne 3000, Australia. 

Phone : +61 3 8373 4800

Email : [email protected]

Eightcap claims as the member of the Australian Financial Complaints Authority.

AFCA can be reached 

By mail: GPO Box 3, Melbourne , Victoria, 3001, Australia 

By phone: 1300 56 55 62

By email: [email protected]

Eightcap assures clients that it holds sufficient liquid funds to absorb significant adverse market movements. It has a dedicated Compliance Department. The broker’s financial requirements undergo daily internal monitoring, and you can easily obtain the most recent audited account reports by reaching out to the broker’s customer support team.

Eightcap Pty Ltd has a Client Money Policy in place, implementing the segregation of client funds from broker funds. Client deposits, including net running profits, are held separately from broker funds, in a dedicated client trust account in line with the Corporations Act 2001 and associate rules and regulations. 

Per the product disclosure statement on the broker website, broker, if your trading account suffers a negative balance, the negative amount will be credited back to you. 

Eightcap review: advantages & disadvantages


Clear and above board with its credentials; segregated client accounts; a superlative electronic trading platform with customization options; Australian Client money Rules compliant; market maker. 


Cannot endorse third-party plugins; does not offer services to US, Japan, Korea, Israel residents.

Eightcap review: trading account types

Basically, the broker offers you two types of trading accounts : 


  • Spreads from 0.0 pips;
  •  minimum deposit $100; 
  • minimum trade size 0.1; 
  • EAs are available
  • $3.50 commission ; 


  • Spreads from 1.0 pips; 
  • no commission; 
  • minimum deposit $100; 
  • Minimum trade size 0.01; 
  • EAs are available.  

The dedicated account manager will help you decide which trading account suits your needs and experience best. 

Both raw and standard trading accounts have the following in common: 

  • minimum/maximum trade size (0.01 lots/100 lots); 
  • margin call level (80%); 
  • stop out level (50%). 

Eightcap review: account opening

With Eightcap , you only have to click the ‘create account’ button. Have your personal information ready when you click that button.
The entire account opening process consists of just three steps: application, verification, and funding.

Eightcap review: trading instruments 

Eightcap boasts 200+ financial instruments across a range of CFD asset classes, including indices, Forex, shares, commodities, and cryptocurrencies. The trading instruments with Eightcap forex trading 

Eightcap offers you unrestricted access to 40+ major/minor currency pairs. 

With Eightcap , you are assured of the following benefits: 

  • Lowest trading costs with highly competitive spreads on offer; 
  • Trading on leverage may empower traders to profit from incremental price movements; 
  • Open short and long positions with a comparatively small initial deposit. 

Eightcap review: commissions and spreads

Eightcap offers a transparent pricing model consisting of low, ultra-competitive, and tight spreads. MetaTrader4 spreads or MetaTrader5 platforms are variable. Quotes come from diverse leading banks and institutions and other top-tier liquidity sources worldwide. 

Eightcap trading costs differ contingent upon account type and the market traded. The Standard Account is free of commission with a bit large spreads. Conversely, the Raw account is commission-based but with raw spreads. 

Swap or overnight fees are charged on positions that keep open overnight. In the event of positions being held over the weekend, a three-day swap charge will be charged on Wednesdays. 

Eightcap ‘s price feed comes from diverse liquidity providers and banks, permitting them to offer market-leading spreads. These may be as low as 0 pip on our Raw accounts, and 1 pip on Standard accounts. 

The tight the spread, the lower the trading cost, and vice versa. Suppose EURUSD is quoted with a buy price of 1.0894 and a selling price of 1.0983. the spread calculation is done by subtracting 1.0983 from 1.0984, resulting in a total spread of 0.0001 or 1 pip. 

Prices are quoted up to 5 decimal points at Eightcap.  

The lowest spreads for both account types are the same, in the instance of cryptocurrencies, commodities, and indices trading. 

A 1 lot volume equals 100,000 of the first-named currency. 

In the context of forex trading, if you leave positions open at 2400 (+2 GMT) for the next trading day, there’s a daily swap adjustment to your position. From Wednesday to Thursday, there’s daily swap adjustment to your position. Swap is charged for 3 days, instead of 1, from Wednesday to Thursday. This covers weekend trades settlement. 

Eightcap review: leverage

Traders use leverage to open larger positions and control bigger trades, sans the need for a bigger bank balance. With margins as low as two percent, leveraging allows retail traders to open larger positions, thereby amplifying potential profits in forex trading. In case a position moves in your favor, and your leverage is 2:1, your profits would be double that of a 1:1 position. 

A 2:1 leverage implies your position is twice your trading account size. Therefore, if you have GBP 10,000 in your trading account, you will have exposure to the tune of up to GBP 20,000 to buy and sell. 

Eightcap provides leverage on trading accounts from 1:1 up to 500:1 (Eightcap Vanuatu).forex instruments, as a rule, provide more leverage than stocks owing to higher liquidity. 

Contingent upon the broker, leverage ratios may vary on forex pairs or financial assets available to retail traders. 

Eightcap provides a range of diverse leverage options, ranging from 1:1 up to 500:1. On a leverage size of 500:1, you may use GBP 1000 to take control of a GBP 500,00 trade. 

Eightcap review: deposit & withdrawal 

At Eightcap , the trader gets to make a deposit payment with ease anytime, anywhere. You only have to go online, log in to the Client Portal Area, click ‘deposit’ from the menu, and go for your preferred payment option. There you will get further instructions as to accessing deposit details that are specific to you. 

Eightcap offers a number of payment methods to fund your trading account. This would include funding thru credit/debit cards, Skrill, Neteller, China Union Pay, and Poli, besides local/international bank transfers. 

All the deposits have to be made in the same currency as your trading account’s base currency.  

Deposits can be made 24/7. In case a deposit is not carried out at the instant, Eightcap will try to finish it within 24 business hours. 

Eightcap review: trading platforms

There are different withdrawal methods offered under diverse Eightcap entities. 

  • Log in to the Client Portal Area and click ‘Withdrawals’ from the menu options; 
  • Go for the trading account you wish to withdraw funds from and enter the desired amount; 
  • Go for the fund’s destination or where you would prefer your funds to be withdrawn to; 
  • Confirm the details, click ‘Request Withdrawal’ to complete your withdrawal request. 

Funds withdrawal is a service that may be used only by clients who have uploaded identification documents and whose trading accounts are broker-approved. To shield you from fraud Eightcap may ask for additional information and/or proof of identity to be submitted prior to processing a withdrawal request. If it is your first time making a withdrawal you will have to make sure that you upload relevant ID documents for authentication. Name, address, and date of birth must be shown clearly on said documents. 

For safety and security purposes, all initial withdrawal requests must undergo verification. Clients can achieve this by submitting a bank statement to Eightcap, which should include account holder information and details.

Withdrawal methods Eightcap recommends that you make use of: 

  • Visa credit/debit card; 
  • Bank Wire Transfer; 
  • Skrill account; 
  • Netteler. 

All withdrawal requests submitted prior to 1:00 PM AEST/AEDT Monday to Friday will be processed the same day. Requests received late will be processed the next business day. 

International withdrawals may take up to 5 days to be received. 

Company details 


Feel free to trade 200+ financial instruments.


Address: Level 35, Rialto South Tower, 525 Collins Street, Melbourne 3000, Australia. 

Customer Service 

The multilingual customer service may be accessed at 

[email protected]; phone: +61 3 8375 9700, +61 3 8373 4800. 

Eightcap review: mobile app 

The broker website has instructions on installing your trading app onto your smartphone. 

  • Use your Eightcap welcome email login details; 
  • From Play Store, download the mobile version of the MT4; 
  • Install on Android device;
  • Log into your Eightcap trading account; 
  • Switch between trading accounts; 
  • Navigate thru the mobile MT4 menu; 
  • On the MT4 app, open new demo accounts;
  • Place trades on MT4. 

Eightcap review: educational & research support

Close to 150 articles on ‘Trading education’ are categorized under MetaTrader Guides, Fundamentals, and Trading Strategies. 

Eightcap review: customer support 

Eightcap offers attentive multilingual customer support. The broker is available on LiveChat, besides the usual phone and email. There are assurances that the broker will satisfy all queries thru its customer support staff. That claim is amply borne out by a large number of testimonials in platforms all over. 

 Phone: +61 3 8375 9700, +61 3 8373 4800. 

Email: [email protected].


 The broker website shows Eightcap to be a straightforward, transparent broker. All relevant documents are in the Legal section -not only for the Melbourne boy but as regards the sister concern in Vanuatu as well. Therefore, it becomes much easier for the investor and trader to become informed sooner. That’s actually more than can be said of a good number of brokers who hide behind nebulous presentations. 

Eightcap is an excellent broker, in the same league as PrimeFin, InvestBy, and ABinvesting. We particularly follow the latter three to stay true to market benchmarks in our analyses.


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Is Eightcap regulated?

Eightcap is subject to regulation by the Australian Securities and Investments Commission (ASIC). As part of the process to maintain their regulatory status, regulatory bodies conduct routine reviews and audits of the company.