Eightcap

Eightcap is a retail forex and contracts-for-differences (CFD) broker registered in the Bahamas. The entity was established on 4 January 2023 and operates under the corporate name Eight Capitals, with its registered address at 208 Church Street, Sandyport Nassau, The Bahamas.

As a relatively new entrant in the online trading space, Eightcap targets international retail clients seeking access to leveraged currency and derivative markets. The broker's core service is the provision of trading execution on a range of financial instruments, a structure typical of the retail FX/CFD industry.

Eightcap holds a Derivatives Trading License (Market Maker) issued by the Securities Commission of the Bahamas (SCB). This license permits the firm to operate as a market maker in derivative instruments, offering clients trades where it takes the opposite side of their positions.

It is important to note that the SCB is an offshore regulator with requirements and investor protections that differ significantly from Tier-1 jurisdictions such as the FCA, ASIC, or CySEC. While the broker is listed on the SCB's public register, the level of oversight is considered lower, which is reflected in FXCanary's scrutiny.

Given its SCB license and short operating history, Eightcap is primarily suited to traders who are comfortable with offshore regulatory frameworks. The broker does not offer negative balance protection or participation in compensation schemes common in European or Australian regimes.

Traders who prioritise strict regulatory oversight, high leverage limits, or proven track records will find limited information on which to base their due diligence at this stage.

FXCanary's Scam Risk Score for Eightcap stands at 85 out of 100, categorised as 'Severe'. This score is driven by the combination of new incorporation, offshore regulation, and the lack of independent user reviews or verifiable performance data.

The absence of publicly available client feedback makes it challenging to assess the broker's execution quality, withdrawal reliability, or customer service standards. Traders should exercise extreme caution before committing funds.

As of this review, no detailed information about trading platforms, account types, minimum deposits, or instrument lists is available from the broker's official website or other independent sources. The web search returned only the corporate domain, without any substantive content.

This lack of public data is itself a significant red flag for potential clients. A broker that does not clearly disclose its offerings is difficult to evaluate and may not meet the transparency standards expected by the trading community.