Eightcap Review UK

Eightcap is a known CFD and forex broker that has received industry awards. The broker offers traders a wide range of financial instruments within a regulated environment, providing attractive trading conditions.

In this Eightcap review, we will explore what it is, how it operates, its regulatory framework, available products, supported markets, commission structure, trading platform, customer service, reviews, and other essential information for you to start trading on Eightcap.

Pros and Cons

Eightcap is a popular online broker known for offering low spreads, a variety of trading platforms, and strong regulation. However, like any broker, it has its strengths and weaknesses. Below is a quick overview of the key pros and cons to help you decide if Eightcap is the right choice for your trading needs.

Main Features

Eightcap is a versatile online broker that provides traders with access to popular platforms like MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView. This variety allows traders to choose the platform that best suits their trading style and preferences.

Eightcap offers competitive spreads, typically starting from 0.0 pips, and provides access to a wide range of financial instruments, including forex, commodities, indices, and cryptocurrencies. The broker is regulated by key financial authorities, including the FCA in the UK, the Australian Securities and Investments Commission (ASIC) and the Financial Services Authority (FSA) of Seychelles, ensuring a high level of security and transparency.

Additionally, Eightcap offers a user-friendly mobile app, making it easy for traders to manage their positions on the go, which contributes to its reputation as one the best brokers in the UK. The broker also provides a demo account for beginners to practice without financial risk, making it accessible for both novice and experienced traders.

Safety

Eightcap is a safe and regulated broker. Although it is not publicly traded on the stock market, it operates under a multi-tier regulatory framework.

Eightcap is regulated by ASIC (Australian Securities & Investment Commission) in the Australian market. In the UK, it is regulated by the FCA, the Financial Conduct Authority, a financial regulatory body based in the UK. Additionally, it is regulated by CySEC, the Cyprus Securities and Exchange Commission.

Fees

Eightcap offers competitive fee structures, particularly for forex and CFD traders. The broker features low spreads starting from 0.0 pips on its Raw account type, which makes it attractive for active traders and scalpers.

For standard accounts, spreads are generally slightly higher but remain competitive within the industry.

Commissions are also applicable on the Raw account, with a fee of $3.50 per side per lot. Eightcap does not charge deposit or withdrawal fees, but traders may incur third-party fees depending on the payment method used.

Overall, Eightcap’s fees are transparent, and its low-cost structure is favorable for frequent traders.

Available Investment Products

Eightcap's trading platform provides various investment opportunities. You can trade forex with access to many currency pairs (major, minor, exotic), cryptocurrencies, stocks, indices, and commodities.

It's important to remember that CFDs on crypto are banned in the UK. If you want to trade crypto, take a look at our best crypto brokers article instead, which lists multiple brokers that provide access to cryptos in the UK.

Eightcap Group Ltd is an authorised and regulated financial services company under the Financial Conduct Authority (FCA). They offer Contracts for Difference (CFD) trading on more than 600 markets across forex, indices, commodities, and shares. Eightcap's UK entity is the only specialised TradingView broker in the UK, providing a customised product experience to help traders get the most out of their trading on the TradingView platfor

What markets can you trade with EightCap?

At Eightcap, you can trade across multiple markets using CFDs—ranging from major and minor forex pairs to popular commodities and widely followed indices. With a strong focus on U.S. and Australian assets, Eightcap is often considered among the best CFD broker options for international traders.

Deposits and Withdrawals

Eightcap offers a variety of payment options for both deposits and withdrawals, including bank transfers, credit and debit cards (Visa, Mastercard), and e-wallets such as Skrill and Neteller.

Deposits are generally processed quickly, often within minutes, but can take longer with bank transfers.

Withdrawals are also efficient, with the broker aiming to process requests within 24 hours. However, processing times may vary depending on the payment method, with e-wallets typically being the fastest.

While Eightcap does not charge deposit or withdrawal fees, traders may face third-party fees depending on the chosen method. Additionally, some payment providers may have their own processing times and requirements. It’s important to check the withdrawal limits, as these can differ depending on the payment option used.

To start trading, you need a minimum deposit of £100 in your trading account. Eightcap offers various deposit methods, including bank transfers, credit cards, debit cards, PayPal, cryptocurrencies, and other instruments like Fasapay, Neteller, and Skrill.

Deposits are processed instantly with no fees, except for bank transfers that can take up to 3 days. Before making deposits, you must upload your identification documents to verify your identity.

Commissions and Accounts Types

Regarding commissions, EightCap offers two types of accounts, each with distinct commission structures. These accounts are tailored to meet the needs of various types of traders. The Standard account is suitable for beginners, and the Raw account is designed for professional and experienced traders. To open either of the accounts, you need to make a minimum deposit of £100.

The main difference lies in commissions:

• The Raw account has a commission £2.25 fee and a minimum spread of 0.
• The Standard account doesn't charge commissions but has a minimum spread starting from 1 pip.

In both cases, the minimum transaction size limit is 0.01, which is a positive aspect since many brokers impose such fees nowadays.

Trading Platforms

EightCap offers three platform choices. The first is Metatrader 4 (MT4), a versatile platform allowing you to trade FX, indices, and commodities on mobile and desktop devices. MT4 offers numerous trading, analysis, and investment tools, including 9 timeframes and 30 pre-installed indicators.

The second option is MetaTrader 5 (MT5), which features 80 pre-installed indicators and tools across 21 timeframes. Known for its flexibility and depth, Eightcap is often regarded as one of the best brokers for MetaTrader 5, offering a smooth experience across both mobile and desktop platforms.

In addition to MT4 and MT5, EightCap provides access to TradingView, a popular charting and trading platform many traders use for its robust technical analysis tools.

Overall, EightCap offers a range of products, markets, account types, and platforms to cater to various trading preferences and experience levels.

Moreover, Eightcap provides additional tools to enhance your trading experience. One of these tools is Capitalise.ai, a popular automated trading platform. It allows you to give trading instructions simply and intuitively, making it ideal for those interested in automated trading without requiring programming knowledge. The best part is that you can create simple and complex trading algorithms for free.

Additionally, you can integrate TradingView with your trading account, enabling you to create charts tailored to your investment strategies. TradingView offers more than 15 customisable charts. You can work with up to 8 charts per tab, ensuring synchronised symbols and time intervals. The platform also offers 50 intelligent drawing tools.

Mobile app

Eightcap offers mobile apps for both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), providing traders with the flexibility to manage their trades and monitor their portfolios from virtually anywhere. The apps are designed to deliver a seamless trading experience, mirroring the desktop platforms in terms of functionality.

Users can access advanced charting tools, technical indicators, and real-time price feeds, as well as execute trades, place stop-losses, and take-profit orders directly from their mobile devices. This makes it ideal for traders who are on the go and want to stay connected to the markets at all times.

Despite the extensive features, trading on smaller screens can present some challenges. The complex charting tools and multiple indicators might be harder to navigate compared to a desktop setup, especially for those who rely on in-depth technical analysis. Nonetheless, the mobile apps still provide a solid trading experience, with features like one-click trading and the ability to manage multiple accounts.

The apps are available for download on the Google Play Store and the Apple App Store, and once downloaded, you simply need your MT4 or MT5 login credentials to start trading. The mobile apps also offer push notifications, ensuring that traders receive important alerts about market movements and account activities, further enhancing their trading experience.

For traders who prefer a convenient, on-the-go solution, Eightcap’s mobile apps are a great option. However, those who frequently use advanced charting or manage multiple trades at once might find the small screen size limiting in terms of usability and efficiency.

Training and Education

Eightcap provides a range of training and educational resources aimed at both novice traders and those looking to deepen their trading knowledge. The broker offers free access to webinars hosted by experienced professionals, which cover a wide variety of topics, from basic trading principles to more advanced strategies.

These webinars allow traders to interact with experts in real-time, ask questions, and gain valuable insights into market trends and trading techniques. Additionally, the broker offers detailed e-books that serve as an excellent resource for beginners who want to learn about the fundamentals of trading, such as understanding market analysis, risk management, and the use of technical indicators.

For traders seeking to use the best trading platform in the UK, Eightcap also provides in-depth guides on mastering the use of trading platforms like MT4 and MT5, helping users to maximise the functionality of these widely-used platforms.

Furthermore, Eightcap's educational content is designed to be accessible, with materials available in multiple formats, including video tutorials and written guides, making it easier for users to learn at their own pace. The broker also offers a demo account, which complements its educational materials by allowing users to practice trading in a risk-free environment, using virtual funds to test strategies before trading with real money.

However, while Eightcap offers solid educational tools, it may not have as extensive a range of resources compared to some other brokers that specialise in education. Traders who require more in-depth analysis, research tools, or comprehensive educational courses may need to look for additional external resources.

User Opinions

We have examined a wide range of user opinions regarding Eightcap, and it’s clear that the broker has received consistently favourable feedback across multiple platforms. Users frequently highlight the platform’s fast execution speeds, user-friendly interface, and responsive customer support as standout features. Many traders also appreciate Eightcap’s tight spreads and integration with tools like TradingView and MetaTrader.

This overall positive sentiment reflects well on Eightcap’s service quality, transparency, and reliability—key factors that build trust within the trading community. While no broker is without occasional criticism, the general tone of user feedback suggests that Eightcap has successfully positioned itself as a reputable and client-focused provider in the online trading space.

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FAQs

What is Eightcap?

Eightcap was established in 2009 and is headquartered in Melbourne, Australia. It is primarily a forex broker, but you can also trade other financial assets via CFDs, including commodities, shares, and indices.

Notably, they provide a demo account, which allows you to practice trading. They offer two types of accounts: Raw, tailored for experienced users, and Standard, suitable for beginners. Additionally, they provide two trading platforms: Metatrader 4 and Metatrader 5.

Is Eightcap suitable for beginners in online trading?

Yes, Eightcap is suitable for beginners. They offer a Standard account designed specifically for those new to trading, with no commissions and a minimum spread starting from 1 pip. Additionally, their user-friendly platform and educational resources make it accessible for newcomers.

What sets Eightcap apart from other brokers?

Eightcap's standout feature is its integration with Capitalise.ai, which enables traders to engage in automated trading without any programming knowledge. This feature makes it an excellent choice for traders interested in automated strategies.

Are there any fees for depositing funds into my Eightcap account?

No, Eightcap does not charge transaction fees for deposits. They offer a range of deposit methods, including bank transfers, credit/debit cards, PayPal, and cryptocurrencies, with immediate processing, except for bank transfers, which may take up to 3 days.

What is customer service like?

The customer service experience with EightCap, based on our assessment and user feedback, is positive. You can contact their customer service through three communication channels: phone, email, or chat.

How to Open an Account with Eightcap

Opening an account with EightCap is straightforward and only takes a few minutes. You'll need to provide basic information such as your email, country of residence, name, and password. After registering, you can customise your account settings to suit your trading preferences.