About eightcap
Who is Eightcap?
Eightcap is an online forex and CFD broker registered in Australia, with its official domain at 8cap.com. The company was incorporated on 7 September 2017, contrary to some claims of an earlier founding date. It has expanded its reach globally, operating under multiple regulatory licences.
The broker offers traders access to over 800 instruments across various asset classes, including forex, indices, commodities, and cryptocurrencies. Eightcap positions itself as a multi-asset broker suitable for both retail and professional traders.
Regulation and Licensing
Eightcap holds regulatory licences from three major authorities: the Australian Securities and Investments Commission (ASIC) with a Market Making License (MM), the Financial Conduct Authority (FCA) in the United Kingdom with a Forex Execution License (STP), and the Cyprus Securities and Exchange Commission (CySEC) with a Forex Execution License (STP). These licences provide a framework of oversight in their respective regions.
The ASIC licence is particularly significant, as it requires the broker to adhere to strict client fund segregation and reporting standards. The FCA and CySEC licences extend its regulatory coverage to European and UK clients, though conditions may vary.
Account Types and Features
Eightcap offers three account types: TradingView, Standard, and Raw. All accounts have a minimum deposit of $100, making them accessible to a wide range of traders. The TradingView account integrates with the popular charting platform, while the Standard and Raw accounts likely cater to different trading styles, with the Raw account typically offering tighter spreads for a commission.
The broker does not publicly specify maximum leverage on its website, but leverage offerings are often subject to regulatory limits. For example, ASIC and CySEC impose restrictions on retail clients, while professional clients may access higher leverage.
Platforms and Instruments
Eightcap supports a range of trading platforms, including the proprietary TradingView integration, MetaTrader 4, and MetaTrader 5. The broker advertises over 800 instruments, covering major and minor forex pairs, indices, commodities, and cryptocurrencies. This variety allows traders to diversify their portfolios within a single account.
The emphasis on TradingView suggests a focus on modern, web-based trading with advanced charting tools. However, the broker also provides access to traditional platforms for those preferring desktop or mobile trading.
Funding and Support
Eightcap accepts several funding methods, though specific details are not extensively publicized. The broker maintains an active social media presence on Facebook, Instagram, LinkedIn, and YouTube, indicating a commitment to customer engagement and support.
Customer support is available through these channels and likely via email or live chat on the website. The broker does not prominently display its support hours or response times, so traders may need to contact them directly for assistance.
Target Audience
Eightcap caters to both retail and professional traders, with account options suited for different experience levels. The low minimum deposit of $100 makes it accessible to beginners, while the range of instruments and platform choices may appeal to more experienced traders. However, the lack of clear information on spreads and commissions means traders should conduct their own due diligence before opening an account.
Overview compiled by FXCanary from regulatory records and public data. full eightcap review