Eightcap Review 2024

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Revisor

Last update: 4 months ago

Our veredict

Eightcap has positioned itself strongly within the cryptocurrency trading space, especially for those interested in CFDs. This broker shines with its broad selection of over 250 crypto derivatives, allowing traders to speculate on a range of cryptocurrencies, from mainstream choices like Bitcoin and Ethereum to more niche options like memecoins. It also supports a variety of fiat pairings, enhancing its appeal to diverse trading preferences. For seasoned day traders, Eightcap’s integration of AI-powered tools and advanced charting platforms, including TradingView, makes it a compelling choice.

On the downside, there are notable limitations. The lack of 24/7 customer support could deter those who prefer trading during off-hours or need assistance outside of standard operating times. Additionally, while it offers robust resources for trading, the educational support specifically tailored to new traders is somewhat lacking. This could be a drawback for beginners who are just starting their journey in cryptocurrency trading. Despite these issues, Eightcap remains a solid option for traders looking for a regulated and secure platform with a strong focus on crypto derivatives.

Pros

Cons

4,8

Threenvest Score

Fees

Low 4,3/5

Regulated

ASIC, VFSC

With the confidence of Threenvest

Regulation and Licensing Eightcap is regulated by multiple top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC). These regulatory bodies are renowned for their stringent standards and oversight, ensuring that Eightcap adheres to high standards of financial practice and client protection .

Number of Users Eightcap has grown its user base significantly since its inception, reflecting its reliability and the trust it has built among traders worldwide. The platform’s expansion into various regions highlights its capability to cater to a diverse clientele, making it a trusted name in the crypto trading industry .

Security Methods Security is a top priority for Eightcap, employing advanced security protocols to protect client funds and personal information. The broker provides negative balance protection, ensuring that traders do not lose more than their account balance. This commitment to security measures gives users confidence in the safety of their investments .

Trading Volume and Liquidity Eightcap handles a significant trading volume, offering high liquidity in its crypto CFDs. This is crucial for traders looking to execute large trades quickly without experiencing significant price slippage. The platform’s ability to manage high trading volumes efficiently is a testament to its robust infrastructure and reliability .

Transparency Eightcap is transparent about its operations, fee structures, and regulatory compliance. This openness fosters trust among its users, as they can clearly understand the terms and conditions under which they trade. Transparency is further reinforced by the regular audits and disclosures mandated by the regulatory bodies overseeing Eightcap .

Best Crypto Brokers

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About Eightcap

Eightcap is an Australian-based financial services provider specializing in online trading services, particularly in the forex and CFD markets. Founded in 2009, Eightcap has built a reputation for offering a robust trading platform with a strong focus on customer service and educational resources. The company is headquartered in Melbourne, Australia, and operates globally with several regional offices.

What is Eightcap?

Eightcap is a regulated broker that offers trading services in forex, commodities, indices, shares, and cryptocurrencies through contracts for difference (CFDs). The platform provides access to more than 250 cryptocurrency derivatives, making it one of the more comprehensive offerings in the industry. Eightcap’s trading services are accessible through the popular MetaTrader 4 and MetaTrader 5 platforms, as well as TradingView, which is well-regarded for its advanced charting capabilities.

Background and History

Since its establishment in 2009, Eightcap has focused on providing high-quality trading conditions with low spreads and fast execution speeds. The broker has received multiple awards over the years, highlighting its commitment to excellence in trading technology and customer support. Eightcap has expanded its services to cater to a global clientele, securing regulatory licenses from several top-tier authorities, including the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK.

Founders

Eightcap was founded by a team of experienced financial professionals dedicated to creating a user-friendly trading environment with robust support and advanced trading tools. The founders aimed to address the needs of both novice and experienced traders by providing comprehensive educational resources and a secure trading platform. Over the years, Eightcap’s leadership team has remained committed to innovation and customer satisfaction, continually enhancing the platform’s features and capabilities to stay competitive in the rapidly evolving financial markets.

Fun and Interesting Facts

Eightcap offers access to more than 250 cryptocurrency derivatives, making it a standout choice for crypto traders.
The platform supports TradingView, which is renowned for its sophisticated charting tools.
Eightcap has received multiple awards for its trading technology and customer service, reflecting its commitment to quality and innovation.
The broker provides a wide range of educational resources through Eightcap Labs, helping traders stay informed about market trends and strategies.

Headlines

“Eightcap Wins Best Crypto Broker Award for Two Consecutive Years”
“Eightcap Expands Crypto Offering with Over 250 Derivative Instruments”
“Regulated and Trusted: Eightcap’s Commitment to Secure Trading”.

Why Choose Eightcap?

Eightcap is a compelling choice for cryptocurrency traders for several reasons. First, it offers a vast selection of over 250 cryptocurrency CFDs, providing traders with a wide array of options to diversify their portfolios and explore various trading strategies. The platform supports multiple fiat and crypto pairs, including popular ones like BTC/USD and ETH/USD, as well as unique pairs like DOGE/AUD and EOS/CAD, which cater to different trading preferences.

Another significant advantage of Eightcap is its fast and reliable order execution. This feature is crucial for day traders and those engaging in high-frequency trading, as it ensures that trades are executed swiftly, minimizing slippage and maximizing potential profits. Additionally, Eightcap’s tight spreads, starting from as low as 0.1 pips, make it an attractive platform for traders looking to minimize their trading costs.

Moreover, Eightcap is a regulated broker, enhancing its credibility and safety for traders. It is overseen by top-tier financial authorities such as the FCA and ASIC, which enforce stringent regulatory standards. This regulatory oversight provides traders with confidence in the platform’s security and operational integrity. Furthermore, Eightcap offers negative balance protection, ensuring that traders do not lose more than their account balance, which adds an extra layer of security.

Where it falls short

1. Limited Educational Resources Eightcap offers a broad range of crypto CFDs and trading tools, but it lacks comprehensive educational materials that could help traders, especially beginners, improve their skills and knowledge. To enhance user experience and support trader development, Eightcap should consider expanding its educational content. This could include detailed courses, webinars, and tutorials on cryptocurrency trading strategies and risk management. Enhancing the educational resources would not only attract novice traders but also help retain them by providing continuous learning opportunities .

2. No Proprietary Mobile App Another significant drawback is the absence of a proprietary mobile app. While Eightcap supports mobile versions of third-party platforms like MetaTrader 4/5 and TradingView, having a dedicated Eightcap mobile app could offer a more integrated and seamless experience for users. A proprietary app could be designed to cater specifically to Eightcap’s features and services, ensuring better performance, user interface, and accessibility. Developing a proprietary mobile app would allow Eightcap to compete more effectively with industry leaders who already offer such functionality, thereby improving customer satisfaction and engagement .

Features	Explanation
Minimum Trade	Eightcap offers a low minimum trade requirement, making it accessible for traders at all levels. This encourages new traders to start small without significant financial risk.
Trading and Transaction Fees	Eightcap charges competitive fees, including tight spreads from 0.1 pips and low commissions, particularly on its Raw account. This makes it an economical choice for active traders .
Number of Cryptocurrencies	With over 250 crypto CFDs available, Eightcap provides one of the most extensive selections of cryptocurrencies in the market, catering to a wide range of trading interests .
Crypto-to-Crypto Trading Pairs	While Eightcap offers a variety of fiat-to-crypto pairs, the availability of direct crypto-to-crypto trading pairs is somewhat limited, which might not meet the needs of all traders
Website Transparency	Eightcap maintains a transparent website with clear information on fees, regulatory status, and trading conditions. However, more detailed educational resources could enhance user understanding .
Credit/Debit Card
Storage Offering	Eightcap does not provide crypto wallet services since it focuses on CFD trading, which means traders cannot store actual cryptocurrencies on the platform .
Staking and Rewards	There are no staking or reward programs available on Eightcap, which might be a disadvantage for traders looking to earn passive income through their crypto holdings .
Mobile App and Desktop	Eightcap supports mobile trading through the MetaTrader 4/5 and TradingView apps, offering robust functionality and user-friendly interfaces, but lacks a proprietary mobile app .
Customer Service	Customer service is available through live chat, phone, and email, but is not 24/7, which can be limiting for traders who need immediate assistance outside of business hours .
Deposit and Withdraw	Eightcap offers multiple deposit and withdrawal methods with no fees, including bank transfers, credit cards, and e-wallets, ensuring flexibility and cost-effectiveness for users .

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on cryptocurrency investment platforms, I highly recommend Eightcap for traders looking to dive into the world of crypto derivatives. Eightcap offers an extensive range of over 250 cryptocurrency CFDs, making it one of the most comprehensive brokers in this space. Their platform is user-friendly, and the tight spreads coupled with fast order execution are ideal for day traders. Additionally, the regulation by top-tier authorities like FCA and ASIC ensures a secure trading environment. However, the lack of a proprietary mobile app and limited educational resources are areas that could see improvement to better support new traders.

Fees

Eightcap offers competitive commissions, particularly attractive for cryptocurrency traders. The platform provides two main account types: Raw and Standard. The Raw account features lower spreads starting from 0.0 pips but incurs a commission of $3.5 per lot per trade, making it suitable for high-frequency traders seeking tighter spreads. Conversely, the Standard account has no commission but higher spreads starting from 0.5 pips . For cryptocurrency trading, Eightcap’s spreads vary significantly depending on the asset. For instance, Bitcoin spreads can range up to 12 pips, which is competitive compared to other brokers. Additionally, there are no deposit or withdrawal fees, which further enhances the cost-effectiveness of trading on Eightcap. However, traders should be aware of potential overnight financing fees if positions are held beyond a day .

Pros

Competitive spreads: Eightcap offers tight spreads starting from 0.0 pips for Bitcoin Cash and competitive spreads for other cryptocurrencies.
No deposit or withdrawal fees: Users benefit from free deposits and withdrawals, making it cost-effective to move funds in and out of the platform.
Low commission on Raw accounts: For those using Raw accounts, Eightcap charges a low commission of $3.5 per lot per trade, which is advantageous for high-frequency traders .

Cons

Comprehensive Analysis of Eightcap Commissions

Eightcap offers competitive commissions for cryptocurrency trading, particularly through its two main account types: the Raw and Standard accounts. These accounts cater to different trading styles and preferences, providing flexibility in how traders manage their costs and trading strategies.

Raw Account

The Raw account at Eightcap is tailored for traders who seek the tightest possible spreads. This account features spreads starting from as low as 0.0 pips, which is highly attractive for scalpers and high-frequency traders. However, this account type charges a commission of $3.5 per lot per side. This means that for every full round trip (opening and closing a position), the total commission amounts to $7 per lot. This commission structure, combined with tight spreads, makes the Raw account highly cost-effective for traders who prioritize low transaction costs over a higher initial spread.

Standard Account

Conversely, the Standard account does not charge a commission, making it simpler and potentially cheaper for traders who execute fewer trades. The spreads for the Standard account start from 0.5 pips, which, while higher than those in the Raw account, eliminate the additional per-trade commission. This account type might be more suitable for beginner traders or those who trade less frequently and prefer to avoid the complexity of commission calculations.

Cryptocurrency Spreads and Fees

For cryptocurrency CFDs, Eightcap offers variable spreads depending on the asset. For example, Bitcoin spreads can be as low as 12 pips, which is competitive in the industry. The exact spread can vary based on market conditions, liquidity, and trading volume. Eightcap does not charge any deposit or withdrawal fees, which adds to its cost-effectiveness and appeal to traders who frequently move funds in and out of their trading accounts.

Overnight Financing Fees

Traders holding positions overnight will incur financing fees, commonly referred to as swap rates. These fees apply to both long and short positions and are calculated based on the size of the position and the prevailing interest rates. For instance, long positions might incur a charge, whereas short positions might receive a small credit, though this depends on the specific asset and market conditions.

No Hidden Fees

Eightcap prides itself on transparency, ensuring that traders are aware of all potential costs upfront. There are no hidden fees, and the broker provides detailed information on its website regarding all charges, including spread variations, commission rates, and overnight financing fees.

In summary, Eightcap’s commission structure is designed to offer flexibility and cost-effectiveness, catering to a wide range of trading styles. The Raw account with its low spreads and commission charges is ideal for high-volume traders, while the Standard account with no commission but higher spreads suits those who trade less frequently. The absence of deposit and withdrawal fees further enhances Eightcap’s appeal as a cost-effective trading platform .

Product selection

Eightcap offers a comprehensive range of services and products aimed at providing a robust trading experience, especially in the cryptocurrency market. The platform excels with its extensive selection of over 250 cryptocurrency derivatives, which includes popular assets like Bitcoin and Ethereum, as well as numerous altcoins and memecoins like Dogecoin and Shiba Inu. This wide range caters to both new and experienced traders looking to diversify their portfolios. Eightcap supports trading through the MetaTrader 4 and MetaTrader 5 platforms, which are renowned for their advanced charting tools and user-friendly interfaces. Additionally, the platform integrates with TradingView, a favorite among traders for its sophisticated analytical capabilities. Eightcap also offers the Capitalise.ai platform, which allows traders to automate their trading strategies without needing to write any code. In terms of educational resources, Eightcap provides access to Eightcap Labs, which includes a variety of eBooks and guides focused on cryptocurrencies. These resources are designed to help traders at all levels improve their trading skills and knowledge. Overall, Eightcap’s offerings are well-rounded, making it a strong contender for traders looking to engage in the dynamic and fast-paced world of cryptocurrency derivatives trading .

Pros

Wide range of crypto CFDs: With over 250 cryptocurrency CFDs, Eightcap offers one of the most extensive selections in the industry.
Integration with advanced platforms: Supports MetaTrader 4/5, TradingView, and Capitalise.ai, providing robust analytical and automated trading tools.
Competitive spreads: Offers tight spreads, starting from 0.1 pips, enhancing profitability for traders.

Cons

Read more about product selection in Eightcap

Comprehensive Review of Eightcap’s Services and Products

Eightcap offers a wide array of services and products designed to cater to both novice and experienced traders, particularly in the realm of cryptocurrency derivatives. The broker provides access to over 250 cryptocurrency CFDs, which includes major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), as well as a variety of altcoins and memecoins such as Dogecoin (DOGE) and Shiba Inu (SHIB).

Trading Platforms and Tools Eightcap supports several advanced trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView. These platforms are known for their robust charting tools and user-friendly interfaces, which cater to the needs of both technical and fundamental traders. Additionally, Eightcap integrates with Capitalise.ai, an algorithmic trading platform that allows users to automate trading strategies without requiring programming skills. This integration helps traders execute complex strategies effortlessly.
Crypto Derivatives Trading One of Eightcap’s standout features is its extensive selection of crypto derivatives. Traders can speculate on the price movements of cryptocurrencies without owning the underlying assets. This approach allows for greater flexibility and the potential to profit from both rising and falling markets. The platform offers competitive spreads, with Bitcoin spreads as low as 12 pips, making it an attractive option for traders looking to minimize costs.
Educational Resources Eightcap provides various educational resources through its Eightcap Labs initiative. This includes eBooks and guides focused on cryptocurrency trading, which are designed to help traders understand market dynamics and improve their trading skills. Although these resources are helpful, the platform could benefit from more comprehensive educational courses to better support beginners.
Mobile Trading While Eightcap does not offer a proprietary mobile app, it supports mobile trading through the MT4 and MT5 apps, as well as TradingView’s mobile application. These apps provide access to all the trading tools and features available on the desktop versions, ensuring that traders can manage their portfolios on the go.
Customer Service Eightcap offers customer support through live chat, phone, and email, but it is not available 24/7. This limitation can be a drawback for traders who need immediate assistance during non-business hours. Nonetheless, the support team is generally responsive and provides clear and detailed answers to user inquiries.
Additional Features Eightcap also provides access to Crypto Crusher, a market scanner for real-time trading ideas, and Forex VPS for high-frequency automated trading. These additional tools help enhance the trading experience and provide valuable insights into market trends.

Overall, Eightcap stands out as a robust platform for crypto derivatives trading, offering a broad range of instruments, advanced trading platforms, and competitive trading conditions. However, the lack of a proprietary mobile app and limited educational resources are areas that could be improved to better serve its user base.

Account opening

Opening an account at Eightcap is a seamless and fast process, designed to be fully digital and user-friendly. The entire application typically takes about 10 minutes to complete, and account verification is usually processed within one business day. The steps to open an account are straightforward and involve the following: Registration: Start by entering your contact information, such as your name and email address. You will need to verify your email address by clicking on a link sent to you by Eightcap. Personal Information: Fill out your personal details, including your date of birth and residential address. Account Details: Choose the type of account you wish to open (Raw or Standard) and select your base currency. Verification: Upload documents to verify your identity and residency, such as a copy of your passport or ID and a bank statement or utility bill . Once your account is verified, you can proceed to deposit funds and start trading. The minimum deposit required to start trading with Eightcap is $100, which is relatively low compared to other brokers. Payments can be made via various methods, including credit/debit cards, PayPal, Skrill, Neteller, and cryptocurrencies like Bitcoin and Tether . Eightcap offers two main types of accounts: the Raw account, which has tighter spreads and a commission per trade, and the Standard account, which has no commission but wider spreads. This flexibility allows traders to choose the account type that best suits their trading style and needs .

Pros

Cons

Read more about account opening in Eightcap

Detailed Account Opening Process at Eightcap

How to Sign Up on Eightcap

Enter Contact Information:
- Start by entering your contact details, including your name and email address.
- Verify your email by clicking on a link sent by Eightcap.
Fill Out Personal Information:
- Provide your date of birth, residential address, and other required personal details.
Choose Account Type:
- Select between a Raw or Standard account based on your trading preference.
- Choose your base currency from the available options.
Verify Identity and Residency:
- Upload a copy of your passport or ID and a recent utility bill or bank statement to verify your identity and address.
- This step ensures compliance with regulatory requirements and enhances account security.

Opening An Account The entire process of opening an account at Eightcap is digital and designed to be quick, typically taking about 10 minutes to complete. Verification of documents usually takes one business day. Once your account is verified, you can proceed to deposit funds and begin trading. The minimum deposit required is $100, which is relatively low and accessible for most traders. How to Buy Your First Cryptocurrency

Deposit Funds:
- Fund your account using one of the supported methods: credit/debit cards, PayPal, Skrill, Neteller, or cryptocurrencies like Bitcoin and Tether.
- Ensure the deposit is in your base currency to avoid conversion fees.
Navigate to Crypto Trading:
- Log into your trading platform (MT4, MT5, or TradingView) and select the cryptocurrency market.
- Choose the cryptocurrency you wish to trade from the extensive list available.
Place an Order:
- Decide whether to place a market order (buy/sell at the current market price) or a limit order (buy/sell at a specific price).
- Enter the amount and confirm the order.

Account Types Eightcap offers two main types of accounts:

Raw Account: Ideal for traders who prefer tight spreads and are willing to pay a commission per trade. Spreads start from 0.0 pips, with a commission of $3.5 per lot per trade.
Standard Account: Better suited for traders who prefer not to pay commissions. Spreads start from 0.5 pips, with no commission on trades.

Both account types support the same range of base currencies and trading platforms (MT4, MT5, and TradingView), and they offer various trading instruments including over 250 cryptocurrency CFDs. How to Use Eightcap

Registration and KYC:
- Complete the registration process as outlined above and verify your account.
- This includes uploading necessary identification documents to comply with Know Your Customer (KYC) regulations.
Depositing Funds:
- Use the client dashboard to select your preferred deposit method and fund your account.
- Follow the steps provided to ensure a successful transaction.

In conclusion, Eightcap provides a straightforward and efficient account opening process with robust verification measures to ensure security. With the ability to choose between different account types and the availability of various deposit methods, getting started on Eightcap is user-friendly and accessible for traders at all levels.

Security

Eightcap offers a robust security framework to ensure the safety of its users’ funds and personal information. The broker is regulated by multiple top-tier authorities, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC). This regulatory oversight provides a level of assurance that Eightcap operates in compliance with stringent financial standards and practices, offering protection to its clients in the event of any operational issues. The platform employs advanced security measures to safeguard client funds and data. This includes negative balance protection, which ensures that traders cannot lose more than their account balance, and segregated client funds, which are kept in top-tier banks separate from the broker’s operating funds. Additionally, Eightcap uses encryption technology to protect data transmissions and secure user information from unauthorized access. Despite these strong security measures, it’s important to note that Eightcap does not offer a banking license, and it is not listed on any stock exchange, which may be a consideration for some investors. Moreover, while Eightcap provides high levels of protection for clients under FCA and CySEC regulation, it offers no investor protection for clients under ASIC and other global regulators. However, the broker’s long-standing history since 2009 and its adherence to high regulatory standards make it a credible and secure option for traders.

Pros

Regulated by top-tier authorities: Eightcap is regulated by the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC), ensuring high standards of operation and client protection.
Negative balance protection: This feature prevents traders from losing more money than they have deposited, providing an extra layer of financial safety.
Segregated client funds: Client funds are kept separate from the broker's operational funds in top-tier banks, enhancing fund security.

Cons

Is Eightcap Legit?

Yes, Eightcap is a legitimate broker. It is regulated by several reputable financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). These regulations ensure that Eightcap adheres to strict financial standards, providing a secure trading environment for its clients. Additionally, the broker has a long-standing history since its establishment in 2009, further cementing its credibility in the industry.

Regulation and Licensing

Eightcap operates under multiple regulatory frameworks, ensuring comprehensive oversight and adherence to financial laws:

FCA (UK): Offers investor protection up to £85,000 under the Financial Services Compensation Scheme (FSCS).
ASIC (Australia): Provides stringent oversight but does not offer investor protection schemes.
CySEC (Cyprus): Provides investor protection up to €20,000 under the Investor Compensation Fund (ICF).
Other jurisdictions: Eightcap is also regulated by the Securities Commission of the Bahamas (SCB) and the Financial Services Authority (FSA) of St. Vincent and the Grenadines, though these entities do not offer the same level of investor protection as the FCA or CySEC.

Is Eightcap Safe?

Eightcap employs several security measures to protect its clients:

Negative Balance Protection: Ensures that clients cannot lose more than their deposited funds, safeguarding against extreme market volatility.
Segregated Funds: Client funds are kept separate from the company’s operating funds in top-tier banks, providing an extra layer of security.
Encryption and Data Protection: Advanced encryption technology is used to secure data transmissions and protect user information from unauthorized access.

Eightcap’s security measures and regulatory compliance provide a high level of safety for traders. However, the broker does not hold a banking license, and financial information is not publicly available, which might be a consideration for some investors. Despite these factors, Eightcap’s adherence to high regulatory standards and robust security practices make it a secure platform for trading.

History and Conclusion

Eightcap was established in 2009 and has built a strong reputation over the years. It has survived various financial crises, indicating its stability and reliability. The broker has also received recognition for its services, including awards for its cryptocurrency offerings and trading platforms. In conclusion, Eightcap is a legitimate and secure broker with robust regulatory oversight and advanced security measures. While it does not offer a banking license or extensive investor protection outside the UK and EU, its regulatory compliance and security features make it a trustworthy choice for traders.

Customer service

Eightcap offers a variety of customer service options to ensure that traders can get the help they need quickly and efficiently. The broker provides support through live chat, phone, and email, although it does not offer 24/7 support, which can be a limitation for traders needing assistance outside regular hours. The live chat is known for its quick response times, usually within a minute, and provides clear and detailed information. Phone support can be slower, with waiting times often exceeding five minutes, and email support typically responds within a day. Overall, the quality of support is satisfactory, but there is room for improvement, particularly in phone support responsiveness and availability. Customer feedback on Eightcap’s service is generally positive, highlighting the broker’s effective and friendly support team. However, some traders have expressed dissatisfaction with the limited availability of support outside standard hours. Additionally, while the email and live chat services are praised for their clarity and helpfulness, phone support has received mixed reviews regarding the relevance and completeness of the information provided. Despite these areas for improvement, Eightcap maintains a good reputation for customer service, ensuring that most issues are resolved efficiently and effectively.

Pros

Quick response times via live chat: The live chat support typically responds within a minute, providing fast assistance to traders.
Clear and detailed email support: Email inquiries are usually addressed within a day, with responses that are comprehensive and helpful.
Multiple support channels: Eightcap offers various ways to reach customer support, including live chat, phone, and email, catering to different preferences.

Cons

Read more about customer service in Eightcap

Customer Service Section for Eightcap Broker

Customer Support

Eightcap offers a range of customer support options to cater to the needs of its traders. The primary methods of contacting Eightcap’s customer support include live chat, phone, and email. These channels are designed to provide timely assistance, though the availability of support is not 24/7, which may be a limitation for some users.

Live Chat: This is often the quickest way to get support, with response times typically within a minute. The live chat agents are known for providing clear and detailed answers to a wide range of queries.
Phone: Phone support is available but can have longer waiting times, often exceeding five minutes. While it can be helpful, some users have reported that the information provided over the phone can sometimes be less detailed or relevant.
Email: Email support is generally reliable, with responses usually received within a day. The replies tend to be comprehensive and helpful, addressing the users’ concerns effectively.

Reputation and Customer Feedback – What Do Users Have to Say?

Eightcap has garnered a generally positive reputation among its users, particularly for its customer service. Traders appreciate the quick response times and the clarity of information provided via live chat and email. Many users have highlighted the friendliness and professionalism of the support team, noting that most issues are resolved efficiently.
However, there are some areas where users feel improvements could be made. The lack of 24/7 support is a common point of criticism, as it limits the ability of traders in different time zones to get help when needed. Additionally, phone support has received mixed reviews, with some traders finding the wait times and quality of information less satisfactory compared to other support channels.

Methods of Contact and Response Times

Live Chat: Accessible directly from the Eightcap website, live chat offers the fastest response time, usually within a minute. It is ideal for quick queries and immediate assistance.
Phone: For more complex issues or if you prefer speaking to a representative, phone support is available. However, expect wait times that can exceed five minutes. It is recommended to prepare your questions in advance to make the most of the call.
Email: For detailed inquiries or if you need to provide documentation, email support is a reliable option. Responses are typically received within one business day, and the information provided is generally thorough and well-explained.

Additional Considerations

When choosing Eightcap, it’s important to consider the support availability and how it fits your trading schedule. While live chat and email provide quick and clear assistance, the lack of 24/7 support might be a drawback if you trade outside of standard business hours. Preparing your queries in advance can help make phone support more effective, despite the longer wait times.

In summary, Eightcap offers robust customer support through multiple channels, earning positive feedback for its responsiveness and professionalism. However, the limitations in support availability and phone service quality are areas that could benefit from enhancement. For traders, understanding these aspects can help in planning how and when to seek assistance effectively.

Is Eightcap Right for You?

Extensive Range of Cryptocurrencies: If you’re a trader looking to diversify your portfolio with a wide range of cryptocurrency CFDs, Eightcap is an excellent choice. With over 250 crypto derivatives, including popular and lesser-known altcoins, you have ample opportunities to explore and capitalize on various market movements.
Advanced Trading Platforms and Tools: Eightcap provides access to some of the best trading platforms in the industry, including MetaTrader 4, MetaTrader 5, and TradingView. These platforms offer advanced charting tools, fast order execution, and the ability to implement automated trading strategies through tools like Capitalise.ai and Crypto Crusher. If you value a robust trading infrastructure with sophisticated features, Eightcap will meet your needs.
Regulated and Secure Environment: For traders prioritizing safety and regulatory oversight, Eightcap is a strong contender. The broker is regulated by top-tier authorities such as the FCA and ASIC, ensuring high standards of financial conduct. Additionally, Eightcap offers negative balance protection and segregates client funds in top-tier banks, providing a secure trading environment. However, if you require 24/7 support or are concerned about the lack of a proprietary mobile app, these could be potential drawbacks to consider.

Threenvest score

4,8

Fees

Low 4,3/5

Regulated

ASIC, VFSC

Available cryptocurrencies

100 (CFDs)

On the crypto broker website

Threenvest score

4,8

Fees

Low 4,7/5

Regulated

FCA, KNF

Available cryptocurrencies

9 (CFDs)

Trading212

Threenvest score

4,9

Fees

Regulated

FCA, CySEC

Available cryptocurrencies

15 (CFDs)

Available cryptocurrencies and countries available

Available Cryptocurrencies and Countries

Eightcap offers an impressive range of over 250 cryptocurrency CFDs, providing traders with a vast selection of digital assets to trade. Among the available cryptocurrencies are major coins like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and popular altcoins such as Dogecoin (DOGE) and Polkadot (DOT). This extensive range ensures that traders can diversify their portfolios and explore various trading opportunities.
However, it’s important to note that certain popular cryptocurrencies, like Ripple (XRP) and Cardano (ADA), are not available on Eightcap’s platform.

In terms of geographical availability, Eightcap serves clients from many countries worldwide, including Australia, the United Kingdom, and various European and Asian nations. However, residents from the United States, Iran, North Korea, and the Republic of Congo are not permitted to open accounts due to regulatory restrictions. This broad accessibility, combined with a few notable exceptions, makes Eightcap a viable option for many global traders.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Litecoin (LTC)
Bitcoin Cash (BCH)
Ripple (XRP)
Cardano (ADA)
Polkadot (DOT)
Chainlink (LINK)
Dogecoin (DOGE)
Stellar (XLM)
Uniswap (UNI)
Binance Coin (BNB)
Solana (SOL)
Shiba Inu (SHIB)
Avalanche (AVAX)
VeChain (VET)
Algorand (ALGO)
Tezos (XTZ)
Cosmos (ATOM)
Aave (AAVE)

Main countries where you can open an account

Australia
United Kingdom
Germany
France
Spain
Italy
Netherlands
Sweden
Denmark
Norway
Canada
Japan
Singapore
Hong Kong
New Zealand
South Africa
United Arab Emirates
Switzerland
Brazil
India

FAQs

1. What is the minimum deposit required to open an account with Eightcap?

The minimum deposit required to start trading on Eightcap is $100. This applies to various deposit methods such as credit/debit cards, bank transfers, and e-wallets.

2. How can I deposit funds into my Eightcap account?

You can deposit funds using several methods, including bank transfers, credit/debit cards, PayPal, Skrill, Neteller, and cryptocurrencies like Bitcoin (BTC) and Tether (USDT). Deposits are generally processed quickly, with instant processing available for card payments and e-wallets.

3. Are there any fees for withdrawing funds from Eightcap?

Eightcap does not charge any fees for withdrawals. However, if you make multiple international bank withdrawals within a month, a fee may apply after the first free withdrawal.

4. Is Eightcap a regulated broker?

Yes, Eightcap is regulated by multiple top-tier authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). These regulations ensure a secure and reliable trading environment.

5. Can I trade cryptocurrencies on Eightcap?

Yes, Eightcap offers over 250 cryptocurrency CFDs, including major coins like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), as well as popular altcoins such as Dogecoin (DOGE) and Polkadot (DOT). This extensive range allows for diversified trading opportunities.

6. What trading platforms are available on Eightcap?

Eightcap supports several advanced trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView. These platforms offer powerful charting tools, fast order execution, and support for automated trading strategies through tools like Capitalise.ai and Crypto Crusher.

7. How can I contact Eightcap's customer support?

You can reach Eightcap’s customer support through live chat, phone, and email. Live chat is the fastest method, with response times typically within a minute. Email responses usually arrive within a day, and phone support, while helpful, can have longer waiting times. Please note that support is not available 24/7.

Final opinion on Eightcap

Eightcap stands out in the crowded field of cryptocurrency exchanges by offering an extensive range of over 250 cryptocurrency CFDs, supported by advanced trading platforms such as MetaTrader 4, MetaTrader 5, and TradingView. This impressive variety allows traders to diversify their portfolios and take advantage of numerous market opportunities. The integration of automated trading tools like Capitalise.ai and Crypto Crusher further enhances the trading experience, making Eightcap an attractive option for both novice and experienced traders. The broker’s strong regulatory framework, under the oversight of authorities like the FCA and ASIC, ensures a secure trading environment, providing traders with peace of mind.

However, Eightcap does have some areas for improvement. Unlike some competitors, it does not offer 24/7 customer support, which can be a drawback for traders in different time zones needing immediate assistance. Additionally, the absence of a proprietary mobile app may deter traders who prefer a seamless mobile trading experience. Despite these weaknesses, the lack of deposit and withdrawal fees, competitive spreads, and the overall robust security measures make Eightcap a solid choice for cryptocurrency trading. At Threenvest, we find Eightcap to be a reliable and versatile platform, especially for those looking to engage in diverse and sophisticated trading strategies.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.