Eightcap Review 2024

Regulations: ASIC, SCB, SFSA

Instruments: Currencies, Crypto, Indices, Metals, Energies

Eightcap offers two main account types to cater to different trading needs: the Standard Account and the Raw Account. The Standard Account is designed for beginner and casual traders, featuring commission-free trading with spreads starting from 1.0 pips. It provides a simple and accessible way to start trading without additional costs. The Raw Account is tailored for professional and high-volume traders, offering spreads as low as 0.0 pips with a competitive commission of $3.50 per lot per side, providing better conditions for those seeking tighter spreads. Both account types offer access to a wide range of instruments, including forex, commodities, indices, and cryptocurrencies​.

Standard Account

The Standard Account at Eightcap is designed for beginner and casual traders who prefer a simple, commission-free trading experience. With spreads starting from 1.0 pips, this account type offers a straightforward way to trade forex, commodities, indices, and cryptocurrencies without incurring additional commission fees. It provides access to the same advanced features of the MetaTrader 4 and MetaTrader 5 platforms, allowing traders to utilize technical indicators, charting tools, and automated trading features. The Standard Account is ideal for those who want to trade with low upfront costs and maintain flexibility in their trading strategies​.

Raw Account

The Raw Account at Eightcap is tailored for professional and high-volume traders seeking tighter spreads and lower trading costs. With spreads starting from 0.0 pips, this account provides access to raw market pricing, paired with a $3.50 per lot per side commission. It is ideal for traders who prioritize cost-efficiency and require more precise pricing for their trading strategies. The Raw Account supports trading on MetaTrader 4 (MT4) and MetaTrader 5 (MT5), giving users access to advanced charting tools, technical analysis, and automated trading features. This account type is well-suited for those looking to trade with minimal spreads and fast execution.

Eightcap offers a variety of deposit and withdrawal options to suit different trader preferences. Funding methods include Visa/Mastercard, bank transfers, PayPal, Skrill, and Neteller, providing flexibility for global users. The broker does not charge any deposit or withdrawal fees, which is a significant advantage, although third-party fees may apply depending on the payment provider. Withdrawals are typically processed quickly, with e-wallets offering the fastest turnaround times, while bank transfers may take a few business days. Overall, Eightcap provides a seamless and cost-effective deposit and withdrawal process for its clients.

Eightcap Deposit Options and Fees

Eightcap offers a range of deposit options, allowing traders to fund their accounts via Visa/Mastercard, bank transfers, PayPal, Skrill, and Neteller, providing flexibility for global users. One of the key advantages is that Eightcap does not charge deposit fees, which is a significant benefit for traders looking to minimize costs. Deposits are typically processed quickly, with instant funding available for methods like credit cards and e-wallets, while bank transfers may take a few business days. However, traders should be aware that third-party fees, such as those charged by banks or payment providers, may still apply.

Eightcap Withdrawals Options and Fees

Eightcap provides flexible withdrawal options, including Visa/Mastercard, bank transfers, PayPal, Skrill, and Neteller, making it easy for traders to access their funds. One of the broker’s key advantages is that it does not charge withdrawal fees, which adds value for cost-conscious traders. However, traders should be mindful of potential third-party fees, such as those imposed by banks or payment providers, depending on the withdrawal method. Withdrawal processing times vary, with e-wallets generally being the fastest, while bank transfers may take a few business days. Overall, Eightcap offers a seamless and cost-effective withdrawal experience.

Eightcap offers competitive and transparent fee structures, depending on the account type. For Standard accounts, there are no commissions, but spreads start from 1.0 pips, making it ideal for beginner traders. For Raw accounts, spreads start as low as 0.0 pips, but a commission of $3.50 per lot per side is charged, making it suitable for high-volume and professional traders. Eightcap does not charge deposit or withdrawal fees, which adds value for cost-conscious traders. However, third-party fees may apply depending on the payment provider used. Overall, Eightcap provides flexible fee structures that cater to different trading needs.

Eightcap Trading Fees

Eightcap offers competitive trading fees across its account types, catering to different trading styles. For the Standard account, there are no commission fees, but spreads start from 1.0 pips, making it suitable for beginner or casual traders. The Raw account, aimed at professional and high-frequency traders, offers spreads starting from 0.0 pips with a $3.50 per lot per side commission, which is cost-effective for those who prioritize tighter spreads.

Eightcap Spreads

Eightcap offers competitive spreads tailored to different types of traders. For Standard accounts, the spreads start from 1.0 pips and are commission-free, making it suitable for beginner and casual traders. For traders looking for tighter spreads, the Raw account offers spreads starting as low as 0.0 pips, but there is a commission of $3.50 per lot per side, making it ideal for high-volume and professional traders. The tight spreads, especially on the Raw account, provide an opportunity for cost-efficient trading, particularly for those focused on forex and CFD markets.

Eightcap Non-Trading Fees

Eightcap is known for keeping non-trading fees to a minimum, making it cost-effective for traders. The broker does not charge any deposit or withdrawal fees, which is a significant advantage over many competitors. Additionally, there are no inactivity fees, meaning traders are not penalized for leaving their accounts dormant for a period of time. However, it's important to note that third-party fees may apply depending on the payment method used, such as bank transfers or certain e-wallets. Overall, Eightcap’s non-trading fees are very trader-friendly, contributing to its appeal as a low-cost broker.

Eightcap does not typically offer bonuses or promotions, focusing instead on providing transparent and competitive trading conditions. The broker has, in the past, occasionally run promotional offers, such as deposit bonuses or trading credit incentives for new clients, though these are generally limited and may vary by region. Due to regulatory restrictions, especially in regions like Europe and Australia, Eightcap is often unable to provide such promotions regularly. Traders are encouraged to check the broker’s website for any updates on available promotions, as they are subject to change depending on jurisdiction.

Eightcap offers a growing education hub aimed at helping traders enhance their skills, featuring a variety of educational articles, videos, and webinars. The educational content covers key topics such as trading strategies, risk management, and market analysis, making it suitable for both beginner and intermediate traders. Eightcap also provides access to archived webinars, such as its TraderFest series, and a range of educational videos, although the selection could be expanded to offer more advanced content. While the broker offers a decent amount of written material, adding quizzes and progress-tracking tools could improve its overall educational offering.

Eightcap is available to traders from a wide range of countries, providing global access to its forex and CFD trading services. The broker is regulated by top-tier authorities such as the Australian Securities & Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the U.K., allowing it to serve clients from many regions, including Europe, Asia, Africa, and Australia. However, Eightcap does not accept clients from certain restricted countries, including the United States, Canada, and a few others, due to regulatory constraints. Overall, Eightcap's broad international reach makes it a popular choice for traders worldwide.