Eightcap Logo
Written by:
Bence András Rózsa
Fact checked by:
Updated:
Dec 2022
Recommended for
  • Investors and traders globally
Trusted broker
  • Top-tier regulation
  • Compensation in case of broker bankruptcy (terms apply)
  • Negative balance protection (terms apply)
Popularity
4,935 people chose this broker in the last 6 months

Our take on Eightcap

If fees are more or less your only concern when choosing a forex broker, Eightcap is definitely worth a try. 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 MetaTrader platforms, including the improved MT5 for web trading and MT4 for mobile and desktop.

BrokerChooser score
4.2 4.2 /5
Visit broker 74-89% of retail CFD accounts lose money
Eightcap is not available in United States
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FX commission per lot
$3.50
Number of currency pairs
47
Minimum deposit
$100
Credit/debit card deposit
Yes
Pros
Cons
Low forex fees
Slim product selection
Seamless, quick account opening
Limited research and educational tools
Free deposit and withdrawal
No investor protection
Expert opinion
“If you’re familiar with MetaTrader platforms, you’ll enjoy Eightcap’s super-low forex trading fees and its great crypto selection.”
Gergely Korpos
Co-founder / CPO

Eightcap main highlights

🗺️ Country of regulation Australia, Vanuatu
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $100
🕖 Time to open an account 1 day
💳 Deposit with bank card Available
👛 With electronic wallet Available
💱 Number of base currencies 7
🎮 Demo account provided Yes
🛍️ Products offered Forex, CFD, Crypto

Eightcap summary

Fees
4.3
Account opening
5
Deposit and withdrawal
4.5
Web trading platform
3.1
Mobile trading platform
3.8
Desktop trading platform
3.4
Markets and products
1.7
Research
1.8
Customer service
5
Education
3.3
Safety
To read much more details about the broker's services and features, expand on the sections below.

Eightcap review
Fees

Score: 4.3/5
+
Eightcap has low forex and CFD fees, especially if you choose the Raw account. There are also no inactivity or withdrawal fees.
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Eightcap review
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.
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Eightcap review
Deposit and withdrawal

Score: 4.5/5
+
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.
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Eightcap review
Web trading platform

Score: 3.1/5
+
Eightcap gives access to MetaTrader 5 web trading platform, but not for MetaTrader 4. The MT5 platform is similar to MT4 - it is customizable, but has more order types. However, price alerts are still not available, and there's no two-factor authentication.
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Eightcap review
Mobile trading platform

Score: 3.8/5
+
Eightcap's mobile platform is provided by MetaTrader 4. It is well-designed and user-friendly, but lacks a more secure, two-step login.
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Eightcap review
Desktop trading 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.
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Eightcap review
Markets and products

Score: 1.7/5
+
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.
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Eightcap review
Research

Score: 1.8/5
+
Eightcap's research tools are fairly limited. There are no trading ideas or fundamental data provided. As a plus, there are good tools for technical analysis, like a strategy tester or Capitalise.ai's automating tools.
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Eightcap review
Customer service

Score: 5/5
+
Eightcap's customer service is great via email and live chat in multiple languages. However, we couldn't connect to their phone support.
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Eightcap review
Education

Score: 3.3/5
+
Eightcap doesn't have a wide range of educational tools, such as videos. On the other hand, there is a demo account as well as some quality articles to read, and it provides webinars on third-party websites.
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Eightcap review
Safety

+
Eightcap is regulated by two financial authorities, including the top-tier ASIC, which however does not provide any investor protection, only negative balance protection. There is also no public information on the broker's financials available.
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Eightcap review
Bottom line

We recommend Eightcap for users looking for a MetaTrader 4-5 broker with low forex fees and fast and easy account opening. It is also great that deposits and withdrawals are free of charge on the broker's end, with a user-friendly process.

On the other hand, available products are limited to CFDs, forex and cryptos (for MT5 clients). The research and educational tools are also limited.

Feel free to try Eightcap if you'd like to have a verified broker account with low forex fees within a day.

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

Eightcap review
FAQ

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Author of this review

Bence András Rózsa

Author of this review

Bence is an experienced broker analyst. Having an MSc in international economy and finance, he focuses on equities, cryptos and newcomer financial services. He also has 2+ years of experience within the brokerage industry, specializing in stock and CFD/forex brokers, crypto providers and robo-advisors.

Bence András Rózsa

Broker Analyst

Bence is an experienced broker analyst. Having an MSc in international economy and finance, he focuses on equities, cryptos and newcomer financial services. He also has 2+ 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

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74-89% of retail CFD accounts lose money

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