EIGHT PLUS CAPITAL

Eight Plus Capital Ltd, operating under the domain eightplus.com, is a brokerage firm registered in Cyprus. The company was established in July 2022 and is headquartered in Limassol. It claims regulation by the Cyprus Securities and Exchange Commission (CYSEC), though the licence status is marked as inactive or unverified in some industry databases. This places the broker in a regulatory grey area that traders should examine closely.

The firm markets itself as a provider of forex and CFD trading services, targeting retail clients who seek high leverage and flexible account options. Its official address is listed as Omirou 61, Joanna Court Flat 201, 3091, Limassol, Cyprus. As a relatively new entity, it has limited independent user reviews, which adds to the uncertainty surrounding its operations.

Regulation is a critical factor for any broker, and Eightplus.com’s status is mixed. While it states supervision by CYSEC, the official register does not confirm an active licence under the name Eight Plus Capital Ltd. The known facts indicate a CYSEC Forex Execution License (STP) with a status of '—', suggesting either pending, suspended, or unverifiable. This discrepancy raises questions about the broker’s compliance with European MiFID II standards.

In FXCanary’s assessment, the lack of a clear regulatory green light is a significant concern. Traders are advised to independently verify the broker’s licence through the CYSEC database before depositing funds. The elevated scam risk score of 53/100 further underscores the need for caution.

Eightplus.com offers three account tiers: BONUS, ECN, and PRO. The BONUS account requires a minimum deposit of $50 and provides a maximum leverage of 1:500. The ECN account starts at $300, also with 1:500 leverage. The PRO account is available from $100 and offers the same leverage cap. These options are designed to accommodate different capital sizes and trading styles, from beginners to high-volume traders.

The broker’s company description mentions a $200 minimum deposit, which appears to be a general requirement, while the account-specific minimums vary. This inconsistency may confuse prospective clients. All accounts reportedly offer variable spreads from 0.1 pips, though precise spread data is not publicly available.

The broker promotes the MetaTrader 4 (MT4) platform, a widely used trading interface known for its reliability and customisable features. MT4 is available for Windows and Mac, allowing traders to analyse markets, execute orders, and use automated strategies. Eightplus.com does not mention MT5 or any proprietary platform, indicating a focused but limited technology offering.

Regarding tradable instruments, the known facts list no specific assets, but the broker’s description suggests a diverse selection. Without a clear breakdown of forex pairs, indices, commodities, or cryptocurrencies, traders cannot assess the breadth of market access. This opacity is typical of unregulated or lightly regulated brokers.

Maximum leverage of 1:500 is advertised across all account types, which is relatively high and carries substantial risk. The broker’s company description notes a 1:100 leverage limit for professional clients, suggesting a tiered approach based on client classification. This aligns with ESMA guidelines for EU brokers, which cap retail leverage at 1:30 for major forex pairs, but the 1:500 offer may apply to offshore or professional clients.

Variable spreads starting from 0.1 pips are claimed, but no average spread data is provided. The lack of detailed trading conditions, such as commission structures for ECN accounts, makes it difficult to compare costs. Traders should request this information directly from the broker before committing funds.

The known facts do not list specific deposit or withdrawal methods for Eightplus.com. Based on common industry practice for Cyprus-based brokers, payment options may include bank transfers, credit/debit cards, and e-wallets. The minimum deposit varies by account type, ranging from $50 to $300, with a general requirement of $200 for standard accounts.

No information is available about withdrawal processing times, fees, or currency options. This lack of transparency is a red flag, as reputable brokers typically disclose such details. Traders should contact the broker’s support team for clarification before transferring funds.

Eightplus.com is a relatively new broker with limited independent reviews and an elevated scam risk score of 53/100 from FXCanary. While it claims CYSEC regulation, the unverified licence status and inconsistent information about leverage limits warrant caution. The broker may be suitable for experienced traders who understand the risks of high leverage and are willing to conduct additional due diligence.

This broker is not recommended for beginners or risk-averse investors. The absence of comprehensive publicly available information, including instrument lists and spread details, makes it difficult to fully assess the trading environment. Potential clients should consider alternative brokers with stronger regulatory records and transparent operations.