Eightcap Review

2.586 · 38 REVIEWS

Eightcap Pty Ltd

Updated: Sep 13, 2021 · Eightcap.com  · Is this your company?

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.

Eightcap
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, VFSC #40377
Prohibited countries:
Trading platforms: MT4, MT5
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (45+)
Cryptocurrencies: (280+) Bitcoin, Litecoin, Ethereum
CFD: (400+) Gold, Silver, Stocks, Stock Indexes, Oil
EAs/Robots: Yes
Scalping: Yes
MAM: Yes
PAMM: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, BPAY, Neteller, PayPal, Poli, Skrill, UnionPay, XPAY
Withdrawal Methods: Bank Wire, VISA, MasterCard, Neteller, PayPal, Poli, Skrill, UnionPay, XPAY

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Eightcap.com profile provided by margarita.tzerova, Sep 10, 2021

Eightcap is Australia regulated forex and CFD broker offering the MetaTrader platform. Trading instruments include over 45 currency pairs, more than 250 cryptocurrencies as well as indexes (including crypto indices), stocks, precious metals, and commodities as CFDs. Take advantage of trading derivatives with ultra-low spreads on the MT4 and MT5 platforms. Please read Eightcap reviews below and share your live trading experiences with them.

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2.586 · 38 REVIEWS
Forex Peace Army
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Traders Reviews

Brisbane, Australia,
Sep 5, 2019,
Registered user

Retraction of Previous Review regarding Eightcap

Service use: Live

Length of use: over 1 Year

To All potential clients of Eightcap
I would like to retract my review as a satisfactory finalization has occurred regarding my case with AFCA against Eightcap.
The dispute is now resolved and the case between myself and Eightcap and AFCA has closed
Thankyou
Mike Frochter

Jan 7, 2019 - 1 Star I am writing this to WARN any prospective users to Keep well away from Eightcap Pty Ltd.
DO NOT USE EIGHTCAP – Can’t Trust Them, Keep far away from them.
I have had accounts with Eightcap Australia for 1 and half years and also recommended around 20 people to use them as well. On 22nd Oct 2018 they say a bad tick happened at midnight on their graphs relating to EURNZD currency pair and the price dropped 3000 points at Eightcap but did not drop on any other brokers world wide, Only Eightcap, which I have proof with over 10 other brokers pricing including Saxobank.
My personal account numbers are 713069 and 713070.
Because of this Fake manipulated price error it caused all accounts to go into margin call and then totally wiped out.
Losses are over $570,000 and currently have a claim with AFCA Australian Financial Complaints Authority Case number 600785. Not counting loss of profit for the past 3 months on top of that as well.
I received emails along with everyone else saying they openly admit the error and accounts will be fixed within 2 days. That was nearly 3 months ago and they have ignored any other requests to rectify the accounts like they promised.
Eightcap representative Lynn Guo in compliance department has given many excuses trying to say anything to get out of repaying the amount they owe including blaming liquidity providers for bad pricing data but they are still responsible to their clients.
They are licenced and regulated with ASIC (Australian Securities & Investments Commission) which I am hoping ASIC will investigate for the NON Compliance.
I will be putting a complaint to ASIC but right now I am waiting for AFCA investigation and their meeting with Ombudsman. I will do an update with the progress of this complaint.
I welcome anyone to contact me anytime for more information on +61 400 921 777.
Thankyou Mike F.
  3 traders have found this review helpful
Michael,
Sofia, Bulgaria,
Oct 7, 2020,
Guest

Very good cusomer support and beginner friendly platform

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!
 
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.
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!
Sofia, Bulgaria,
Mar 25, 2019,
Registered user

Good option with MT5

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.
James Ward,
Frankfurt, Germany (Really the offices of EightCap in Bulgaria),
Feb 1, 2019,
Guest

A reliable broker (that pays my salary)

I've been trading for a couple of years now and have tried out many European brokers. These guys have made a difference for me. A reliable broker, with great execution. Plus, I've never had any issues with withdrawals.
 
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.
Tuyen Quang, Viet Nam,
Jan 13, 2020,
Registered user

No money

Service use: Live

Length of use: 6-12 Months

- Subtract all amounts including my principal and profit.
- Clear all my Transaction history.
- Don't let me withdraw money.
- Chat with Support, no answer.

I signed up for an account under their verification. but they slander me for hedging. Taking the reasons for that baseless judgment, accusing me of breaching customer contracts from them. Close my trading account, delete my trading history.
Restrained my money, but there was no explanation
  1 trader has found this review helpful
Ilorin, Nigeria,
Dec 19, 2019,
Registered user

Total waste of time

Service use: Live

Length of use: 0-3 Months

I Have recently opened account with eightcap, two days later they request for my documents...

After I upload I'd card and bank statement
This is what I get

Thanks again for choosing EightCap as your preferred broker.


Unfortunately, we'd like to advise that we were unable to set
up the EightCap live trading account you applied for recently
because we had been unsuccessful in verifying your identity
(ID) online.
In order to proceed, we'd require you to send us certified
copies of your photo ID documents. Following are the steps to
help ensure your ID documents are correctly certified.
1. Make a photocopy of your original ID document.
2. Take both your original ID document and the photocopy to
an authorised person (see below for a list of persons who can
certify).
3. The authorised person will need to:
› sight the original document, and the copy, to ensure both
documents are identical; and
› write or stamp 'this is a true and correct copy of the original'
or 'certified true copy', followed by their signature,
qualification, name, address, and the date the documents
were sighted.
When having your documents certified, remember:
› all pages must be certified;
› the copy of the document must be certified – not on a
separate page attached to the document;
› certified copies of your documents must have an original
signature;
› documents not written in English must be accompanied by
an English translation prepared by an accredited translator;
and
› documents certified more than a year ago are not accepted.
Who can certify your ID documents?
Some of the people authorised to certify IDs include:
1. A person currently licensed or registered under a State or
Territory law to practise in one of the following occupations:
legal practitioner; medical practitioner; pharmacist; nurse;
dentist; optometrist; chiropractor; psychologist; or veterinary
surgeon.
2. One of the following persons: police officer; notary public;
Justice of the Peace; judge of a court or Magistrate; Clerk,
Master, Registrar or Deputy Registrar of a court; member of
the Institute of Chartered Accountants in Australia, CPA
Australia or the National Institute of Accountants; agent of the Australian
Postal Corporation who is in charge of, or a permanent
employee with two or more years of continuous service with,
an office supplying postal services to the public; bank, building
society, credit union or finance company officer with two or
more years of continuous service; or teacher employed full-
time at a school or tertiary education institution.
  1 trader has found this review helpful
Viet Nam, Viet Nam,
Jan 13, 2020,
Registered user

Deleted trading history and stole all profit of client

Service use: Live

Length of use: 3-6 Months

Hi all traders,
My name is Do Duc Hanh, I'm also a victim of Eightcap broker. My mt4 is 400597. I made over 14.000$ profit but Eightcap broker deleted all my profit and trading history. They sent me an email which accused me of bonus hedging but they didn't show any evidence. I tried to contact them, but there was no any explaination from them.
I have attached my trading history in this post before being deleted, I traded over 200 lots but they ignored.
I didn't think that a well-know broker can do that with a valued client, so terrible.
Hopefully FPA community will help me to take my money back. Thank you a lot.
Everyone can see my trading history in my forums thread

More. Community discussion of this issue >>

  2 traders have found this review helpful
binh thuan, Viet Nam,
Jan 13, 2020,
Registered user

scam eightcap

Service use: Live

Length of use: 0-3 Months

I registered an account at eightcap.com with the ID number 400842

I made a deposit of $ 2000 initially and received a bonus of $ 700, during the transaction I did not have fraudulent activities to eightcap, my account is currently $ 4500, but eightcap.com has delete my transaction history, and subtract my $ 4500, my account is no longer available, I contacted eightcap.com but no response.

I hope the company can help me get me fair.
  1 trader has found this review helpful
Viet Nam, Viet Nam,
Jan 13, 2020,
Registered user

Scam Broker

Service use: Live

Length of use: 3-6 Months

To the competent agencies:

My name is: Ngo Van Thiep
I have opened a trading account with broker Eightcap with MT4 number 401029.
- My account is more than $ 2500, I made a withdrawal of $ 1400, the Broker Eightcap side deducted my money but after 3 working days I did not return my money to the wallet.
- I started to contact their support and received the answer is waiting for review is unclear, I have waited for a few days and sent mail but they silently did not answer me.
- When I asked them to clarify the issue, they told me to give them the transaction history of Neteller wallet (I find this absurd because it's my personal information), then they arrest me record videos with proof of your identity.
- Then they proceeded to close my MT4 account and deduct all my more than $ 2500 and imposed that I hit hedgin something without clear evidence specific. I asked them to give evidence otherwise they would have to return my full amount so they would not respond so far.
- They also deducted all my money and deducted my account -2887 $
- So expect the competent organizations to intervene and reclaim fairness for me.

More. Community discussion of this issue >>

  1 trader has found this review helpful
Bien Hoa, Viet Nam,
Jan 13, 2020,
Registered user

Service use: Live

Length of use: 0-3 Months

My name is Phung Thi Dan Thao. My MT4 account is 400817
I get the issues with Eightcap https://www.eightcap.com/vn/ below:
Arbitrarily disabled my MT4 account.
Keeping my money including deposit and profits 4001.81 USD over a month, and still not pay me until now.
Calumniating me to trade HEDGING with another MT4 account 401309 without proof (even if this is my friend MT4 account, and he hasn’t made any deposit or any transaction yet), then remove all my transactions and profits.
Deliberately delayed, making it difficulty, absurd requirements for me to withdrawn my deposit.
The details are as follow:
Oct 31st 2019, I opened an account with Eightcap Broker, my Email is Graypham1988@gmail.com, MT4 account is 400817. Eightcap verified my account by asking me to send pics of my ID card and utility bill. And I completed it.
Dec 5th 2019, I made deposit 2000 USD to my MT4 account 400817 via Neteller, my Neteller Email is Graypham1988@gmail.com. Then I made 3 transactions Sell XAUUSD, total 1.7 lots.
Dec 6th 2019, I got take profits of 3 transactions is 2001.81 USD, and I made a request to withdraw my profit. It is the request to withdraw 2000 USD from my MT4. However, my withdrawal order was hanged over 10 days without any notify to my email, and my MT4 account is disabled. During that time, I made 2 conversations on chat window of Eightcap website, and I got the same answer is Eightcap is during time to verify the transactions so please waiting.
Dec 18th 2019, I couldn’t waiting anymore so I sent an email to Eightcap to asking about my account and my fund. Then Eightcap sent me an email to support my withdrawals, I have to confirm my identity and account holder authentication Neteller, by provide them the video images me to hold my ID card, the the screenshots of my Neteller account show my name, email and the history Neteller transactions from the day guests Eightcap. I believed these requirements are absurd, because when I opened an account with Eightcap, or any other brokers, all them always ask me to verify my identity or anything they need first, then they confirmed it was verified, then I can just deposit and trading. But, I was so worry about my fund they are keeping, and I didn’t want to waste time anymore, so I did all things they asked.
Dec 22nd 2019, I sent them the video images me holding my ID card, and my Neteller account screenshots as they asked.
Dec 23rd 2019, Eightcap replied email that asking me keep waiting.
Dec 24th 2019, Eightcap emailed to me that I traded HEDGING with MT4 account 401309, so they returned all my transactions and removed my profits, just pay me my deposit 2001 USD and I have to keep sending them my bank account information, and my bank statement with clearly transactions, instead of I deposit via Neteller, and they asked me to verify many times before.
Dec 25th 2019, I replied their email, asking them to provide me the proof of their slanderous, I also pointed out that the MT4 account 401309 is owner of my friend, and he hasn’t not deposit or made any transaction yet, so how we can Hedging? Also, I didn’t agree with things they did with my account, including arbitrary returned my transactions and removed my profits. And keep asking many things many times to waste my time and made it difficulty to withdrawn my fund.
Jan 13rd 2020, I’m sting in waiting and not get any response from Eightcap. They keep my fund is 4001.81 USD including deposit 2000 USD and profit 2001.81 USD in silent, no any email until now.

More. Community discussion of this issue >>

  1 trader has found this review helpful

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 2 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.