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Eightcap Review 2024

Written by
Bence András R.
Fact checked by
Krisztián G.
Updated
4d ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
2,157 people chose this broker
Not available in United States; see best alternatives

Why choose Eightcap

Eightcap is definitely worth a try if fees are more or less your only concern when choosing a forex broker. Its forex fees are the lowest among Australia-based forex brokers, withdrawals are free, and there is no inactivity fee.

Account opening is super fast, and the $100 minimum deposit is reasonable for a forex/CFD-only broker. As a plus, Eightcap offers a great lineup of crypto products, making up for a poor CFD selection and generally basic services when it comes to research, education or customer support.

Like many of its peers, Eightcap uses the popular MetaTrader platforms.

  • Low forex fees
  • Seamless, quick account opening
  • Free deposit and withdrawal
Overall score
4.2/5
Minimum deposit
$100
Inactivity fee
no
Account opening
1 day
Visit Eightcap

74-89% of retail CFD accounts lose money

Not sure if this is the right broker for you? See the best ones.

See how the best brokers in the United States compare to Eightcap

US stock fee
Estimated commission of a $2,000 trade, assuming a $50 stock price

Fees

Score: 4.2/5
Eightcap has low forex and CFD fees, especially if you choose the Raw account. There are also no inactivity or withdrawal fees.
  • Low trading fees
  • Low non-trading fees
  • Low forex fees

We compared Eightcap's fees with two similar brokers we selected, Fusion Markets and Pepperstone. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Eightcap alternatives.

No inactivity fee, no withdrawal fee

There are no inactivity, deposit or account fees. For international wire transfers, your bank may charge you a receiving fee that will be passed onto you (it could be $20 or higher).

Broker
Inactivity fee
Withdrawal fee
Eightcap
$0
Fusion Markets
$0
Pepperstone
$0
Eightcap inactivity, withdrawal and other fees

Other commissions and fees

Low FX fees: Eightcap charges a forex commmission: $3.50 commission per lot per trade. Spread costs come on top of this, e.g. the EUR/USD spread is 0.1.

Broker
Mutual fund
US micro e-mini stock index futures
Eightcap
-
-
Fusion Markets
-
-
Pepperstone
-
-
Misc. fees compared with other brokers

Safety

Eightcap is regulated by several financial authorities, including the top-tier FCA in the UK and ASIC in Australia, although there is investor protection only for UK and EU clients. There is also no public information on the broker's financials available.
  • Negative balance protection
  • Regulated by top-tier FCA and ASIC
Read more

Deposit and withdrawal

Score: 4.4/5
At Eightcap deposits are free, as are most withdrawals, with e-wallet options also available. The selection of account base currencies is limited to major currencies.
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • Electronic wallets available
Read more

Account opening

Score: 5/5
Opening an account at Eightcap is seamless and fast. The whole process is fully digital and your account should be approved within one day.
  • Fast
  • Fully digital
  • Low minimum deposit
Read more

Mobile app

Score: 3.3/5
Eightcap's mobile platform is provided by MetaTrader 4 and MetaTrader 5. They are well-designed and user-friendly, but lacks a more secure, two-step login.
  • User-friendly
  • Good search function
  • Price alerts
Read more

Desktop platform

Score: 3.4/5
Eightcap's MetaTrader 4 desktop platform is easily customizable, but has a poor, outdated design. You can set price alerts, but there is no safer, two-step login option.
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
Read more

Product selection

Score: 1.8/5
Eightcap's product selection covers only forex and CFDs for MT4 users. MT5 users can also access CFD cryptos but popular asset types like real stocks and ETFs are not available.
Read more
“If you’re familiar with MetaTrader platforms, you’ll enjoy Eightcap’s super-low forex trading fees and its great crypto selection.”

FAQ

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Author of this review

Bence András Rózsa
Bence András Rózsa

Bence is a former broker analyst for BrokerChooser. Having an MSc in international economy and finance, he focused on equities, cryptos and newcomer financial services. He also gained years of experience within the brokerage industry, specializing in stock and CFD/forex brokers, crypto providers and robo-advisors.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

Visit Eightcap 74-89% of retail CFD accounts lose money
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