Eightcap Review

2.117 • 46 REVIEWS
Eightcap Pty Ltd
Updated: Feb 27, 2024
Eightcap.com
Eightcap is Australia regulated forex and CFD broker offering MetaTrader platform. Trading instruments include over 45 currency pairs, Bitcoin, Ethereum and other cryptos as well as indexes, stocks, precious metal and commodities as CFDs. Please read Eightcap reviews below and share your live trading experiences with it.
Other website of this company include https://cc.8cap.com.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $100
Established: 2009
Address: The Rialto, South Tower Level 35, 525 Collins Street, Melbourne VIC 3000, AU, Australia
Contact: customerservice@eightcap.com, +61 3 8373 4800
Regional offices:
Regulators: ASIC #391441, FCA #921296, VFSC #40377
Prohibited countries: Show all >>
Trading platforms: MT4, MT5, TradingView
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (45+)
Cryptocurrencies: (300+) Bitcoin, Litecoin, Ethereum
CFD: (800+) Gold, Silver, Stocks, Stock Indexes, Oil

Trading Conditions

EAs/Robots: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

MAM: ✅ Yes
PAMM: ✅ Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Neteller, PayPal, Poli, Skrill, UnionPay, XPAY
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, PayPal, Poli, Skrill, UnionPay, XPAY
* Please check broker website for more information
2.117 • 46 REVIEWS

Eightcap Most Helpful Customer Reviews

T
teapot
Spain, Spain,
Jan 2, 2023,
Registered user

Can't trade on Jan 2nd 2023 while forex market is open

Service use: Live Length of use: 0-3 Months
On Monday, January 2nd 2023, Eightcap seems to have the "market" closed (ERROR - Off quotes) when you try to open (close?) an order. Their quotes froze on the last day of 2022. Today there's holidays in USA,... BUT the forex is still open - I can place trades in other brokers.

This does not make any sense. Why can't I operate on Eightcap? What about my open trades?
L
Luka.Alfonsi
Sofia, Bulgaria (inside the offices of Eightcap),
Mar 25, 2019,
Registered user

Good option with MT5 (I forgot to say that I work for Eightcap)

Just switched to MT5 from 4 after 3 years on MT4. Issue with Eightcap currenlty I can not access US shares but I'm told they'll be bringing them on shortly. Eightcap has improved the bit over the years and is now becoming a much stronger option for me. I will still only trade fx pairs and indices with them. I have made strong profits on trading indices with them and now need to continue this on MT5.
Forex Peace Army
Review moderation team note
4 Star Rating removed.

This review came from the same location in Bulgaria used by EightCap's representative to leave a comment on another review.  Per FPA policy, the rating on this review has been set to Zero stars.
F
FxPhil
Dubai, United Arab Emirates,
Sep 2, 2022,
Registered user

They CLOSED my trades without notice - SCAM ALERT

Length of use: 6-12 Months
Around 2 weeks ago Eightcap just closed my trades (100 lots!!! of oil). Without ANY notice!!!
Only 3 days later I received an email that they are terminating my account and I have 5 days to close and withdraw my funds.
Funny that they closes all trades alreaey before even informing me. Maybe it came in handy that 80% of my trades were in loss at the time they decided to close them.
Support said, they reserve the right to close trades whenever they want. Shocking!!!
IF YOU WANT TO CONTROL YOUR TRADES, DON'T TRADE WITH THEM, BECAUSE IF THEY FEEL LIKE, THEY WILL CONTROL THEM.
I waited 2 weeks for an answer about the reason why they closed without notice, no answer...
2 traders have found this review helpful
R
RNG75HIim
Malaysia, Malaysia,
Aug 12, 2022,
Registered user

No withdrawal

Service use: Live Length of use: 6-12 Months
My account numbers are 414277 and 415506, and I have a total of $56,481 in my account. When I withdraw in February today, they found reasons to refuse my withdrawal. I found Eightcap's customer service and account manager through the background in the early stage, and they replied that they would help me deal with it. After a month or so, they find various reasons to prevaricate, and they have been emphasizing that please be patient, the financial team is dealing with it, it has been a few months, haven't it been dealt with? I am now disappointed with Eightcap company, their way of dealing with it is to keep shirk, making me physically and mentally exhausted, please customers take a warning, now I just want to get my money that should belong to me.

Feb 17, 2022 - 1 Star I opened an account with eightcap about 1 month ago and traded the Dow, I traded the Dow very well, combined with the current COVID-19 situation in the US, the volatility of the Dow is very strong, and then I made a profit, but When I made a withdrawal they rejected me for no reason. Waited for a week or so and they found a high-sounding reason to deduct my profit, their reason even said there was something wrong with their offer, and all my trading profits were cancelled.

I've been trading for almost a month, could their quote be wrong by a month? Do they only allow losses and not profits? They keep saying that they are ethical brokers, and they still do such ugly behavior. I demand that my profits be paid as soon as possible, or the next step is to file a complaint with the regulator.
O
Old_greg
Melbourne, Australia,
May 16, 2021,
Registered user

Helpful and good fun broker

Service use: Live Length of use: 6-12 Months
I've been trading with Eightcap for just under a year and they are now my main broker. They've agot good education package with bkforex, now I see they have AI trading algos too. Lots of features and always nice to here an aussie voice when getting help. I'm happy to recommend them.
1 trader has found this review helpful

Recent User Reviews of Eightcap

M
Michael
Sofia, Bulgaria (inside the offices of Eightcap),
Oct 6, 2020,
Guest

Very good cusomer support and beginner friendly platform (I forgot to say that I work for Eightcap)

Service use: Live Length of use: 0-3 Months
Nothing but satisfied with Eightcap. I took a very long time, figuring out which broker I should trade with and I'm really glad I did. Eva was very helpful in helping me setup my account! Their trading platform is very easy to understand and simple to get a grasp on for newbies. My whole experience as a beginner has been nothing but great!
1 trader has found this review helpful
E
Reply by Eightcap submitted Oct 8, 2020:
Hi, Michael! We’re very happy that you picked us as your first broker. We constantly make sure that we have great customer service as we know how important that can be for beginner traders. Thanks for your review!
Forex Peace Army
Review moderation team note
5 Star Rating removed.

This review came from the same location in Bulgaria used by EightCap's representative to leave a comment on another review.  Per FPA policy, the rating on this review has been set to Zero stars.
C
CyberMonix
Dubai, United Arab Emirates,
Dec 21, 2022,
Registered user

2.5 Secs delay in execution on The EightCap Live 04 MT4

Service use: Live Length of use: 0-3 Months
There is a 2.5 Secs delay in execution on The EightCap Live 04 MT4.
Can anyone explain this why is that so? It was not there before 3rd of Dec.
E
EFDIWAN
liege, Belgium,
Dec 12, 2022,
Registered user

Unprofessional

Service use: Other Length of use: Have not used
I tried to open an account with them, and I couldn't verify my account, as they told me that I need to send them proof of residence. i had it attached but obviously they dont read there e-mails or they ignor there customers for an unknown reason.
I guess the problem of the salesman was that my nationality different from where I live. I have accounts with 2 different brokers and i never had this problem.
what is annoying like they pretend they are interested and they ignore the communication. anyway, there are 100 other brokers there. good luck
P.S: i know a freind who recomended them and they pay on time, and as per money management is good. this complain is about customer service not about trading or money problem.
E
Edd
Johor, Malaysia,
May 22, 2022,
Guest

BEWARE OF YOUR SL!

Service use: Other Length of use: 0-3 Months
This broker is doing shady scheme which triggering ALL your SL even price never comes near of it yet, Believe or not it’s up to you, i have a proof of screenshot if u ask me
2 traders have found this review helpful
T
ThatTallGenius
Kano, Algeria,
Jan 19, 2022,
Registered user

Eightcap erased my account (including deposit) when I tried to withdraw.

Service use: Live Length of use: 0-3 Months
I made a deposit of $2500 to my eightcap account on 5th January, 2022. After trading for a day I requested a withdrawal the next day. It was at first "processing" until my whole account was wiped (including my deposit). Since then I've been sending various mails to their support team including my account manager which was never replied. So i decided to chat with their online support, they have been extremely rude to me, to the extent that they'll disconnect the call intentionally saying if i don't have "anything else to say". They claimed there was latency error from their server on 7th January, my trade occured on 5th January and I don't seem to understand how that'll affect my trades (including my deposit). Till date they have never replied my mail nor give me a proper explanation on why they do what they did but it happens that they did exactly the same thing to a friend of mine, the only difference is his withdrawal was approved and mine never was. They are typical scammers and everyone should stay away from them.
1 trader has found this review helpful
E
Reply by Eightcap submitted Jan 26, 2022:
Hello, thank you for your feedback. As an ethical broker, we must maintain price integrity, and not allow clients to be affected - or take advantage of - quotes that do not reflect fair market price. If we find a palpable error in pricing, trades made on that price are void in fairness to all clients, whether running a profit or loss
Judging by your review this may have been the case however we do not have enough information to verify your account, if you provide your details to our customer service team we can look further into this. Please get in touch via email (customerservice@eightcap.com) or you can contact us via phone at +61 3 8375 9700.

Frequently Asked Questions

What leverage range does EightCap offer?

Eight Cap offers a leverage range of 1:1 to 500:1.

What is the minimum deposit for EightCap?

Registering a live account with EightCap is free but the initial funding for all available accounts is $100.

Does EightCap allow scalping and hedging?

EightCap does allow scalping and hedging, as well as Expert Advisor.

Is EightCap regulated?

EightCap group is regulated in 3 countries.
  • EightCap is a brand of EightCap Pty Ltd (ABN 73 139 495 944) regulated by the Australian Securities and Investment Commission (ASIC) with license No. AFSL 391441.
  • EightCap Global Ltd (Vanuatu) is regulated by the Vanuatu Financial Services Commission under company registration No. 40377.
  • Eightcap Group Ltd (UK) is regulated by the Financial Conduct Authority (FCA) of the United Kingdom under reference number 921296.