Eightcap Australia Review

Regulation -5/5

Is Eightcap Available in Australia?

Yes, Eightcap is a forex broker that operates legally in Australia & are regulated by the Australian Securities & Investment Commission (ASIC). Eightcap is available to both retail & professional traders in Australia.

Eightcap is also a member of the Australian Financial Complaints Authority (AFCA) which is a point for complaints resolution.

Funding & Withdrawals - 4.3/5

Eightcap Minimum Deposit in Australia

The Eightcap minimum deposit in Australia is $100 so this is the lowest deposit you can make into your Eightcap trading account. If you attempt to input an amount lower than $100 into the deposit box, the system will disable the submit button.

Eightcap Payment Methods

1. Bank Cards

Eighcap Australia accepts deposits via Visa/Master cards and the processing time is between instant. There are no deposit fees applicable.

2. PayPal

Eightcap accepts deposits transferred from PayPal and the processing time is instant. There are no deposit fees applicable.

3. International Bank Wire

Eightcap accepts deposits from International banks outside Australia & processing time can reach 5 working days. Deposit fees may be charged by your bank.

4. BitPay

Eightcap Australia accepts only AUD deposits via BitPay but it could take as long as 2 days for the funds to reflect in your trading account.

5. UnionPay

Eightcap Australia accepts only RMB deposits via UnionPay & processing time is instant.

6. Skrill

Eightcap Australia accepts only USD, EUR & CAD deposits via Skrill & processing time is instant.

7. Neteller

Eightcap Australia accepts only USD, EUR & CAD deposits via Neteller & processing time is instant.

8. Cryptocurrency (USD Accounts Only)

Eightcap Australia accepts only Tron, Ethereum & Bitcoin deposits & processing time is instant. At EIghtcap you can also deposit during weekends.

9. FasaPay

Eightcap Australia accepts only USD deposits via FasaPay & processing time is instant.

EIghtcap Minimum Withdrawal

Eightcap minimum withdrawal in Australia is $0 so you can withdraw your profits as they come.

EIghtcap Withdrawal Time

• Visa/MasterCard withdrawal : 2 to 5 days
• PayPal withdrawal : 1 to 5 days
• International Wire transfer : 1 to 5 days
• BitPay withdrawal: 1 to 3 days
• UnionPay withdrawal: 1 day
• Skrill withdrawal: 1 day
• Neteller withdrawal: 1 day
• Crypto withdrawal: instant

Range of Accounts - 4/5

1. Standard Account

This is an entry-level account with a spread-only pricing & zero commissions.

2. Raw Spread Account

Theis account offers lower spread than the standard one but in return you must pay a flat commission per trade.

3. TradingView Account

This account has the same spread-only pricing style with the standard account but while the standard account only works on MetaTrader, the TradingView account is designed to work on TradingView charting platform only.

Account Management - 4.5/5

Base Currencies

Eightcap Australia allows you select AUD, USD, EUR, GBP, NZD, CAD, SGD as your account display currency.

How Do I Open an EIghtcap Account?

Step 1

Visit the Eightcap website & click on create account. Sign in using your google account or email.

Enter your name & phone number then click on create account.

Step 2

Select if you want to open an individual, joint or corporate account then proceed to enter information such as :

• Name & Date of Birth
• Australia Address (residential) & how long you have lived at the address
• Tax Residency
• National Insurance Number (NINO)

Step 3

Answer a few questions about you source of income and trading experience, then go ahead to login to your client area and upload your identification documents such as passport etc.

After this step, you will be notified that your account is live & the you can proceed to make the Eightcap minimum deposit of 100 GBP.

How Many Trading Accounts Can I Open?

Eightcap Australia allows you open up to 5 Trading Accounts at a time.

To be clear, you can open up to 5 Individual Accounts, 5 Joint Accounts or 5 Corporate Accounts.

Eightcap Trading Fees - 4/5

1. Spread

Eightcap offers variable spread pricing & spreads start from 1.0 pips.

• EUR/USD spread from 1.0 pip
• GBP/USD spread from 1.0 pip
• UK 100 spread from 1.2 GBP
• US30 spread from 1.6 USD
• NASDAQ spread from 1.4 USD

2. Commission

Commissions from 3.5 AUD per side are charged on the raw spread account but in return you get lower spreads from 0.0 pips. Also note that when trading share CFDs you must pay a commission of 4 AUD irrespective of the account type you are using.

3. Overnight Rollover Fees

Eightcap will charge you an overnight rollover (swap) fee if you leave your CFD positions open overnight. Eightcap does not offer swap free trading so the rollover fee applies to all instruments.

4. Withdrawal Fees

No, Eightcap does not charge you fees for withdrawals.

5. Inactivity Fees

No, Eightcap does not charge you for leaving your account unused or inactive over a period of time.

Range of Markets - 3/5

Eightcap Australia allows you trade using CFDs only. This means that Spread Bets are not on the menu.

1. Forex CFDs

Eightcap Australia lets you trade over 40 currency pairs including EUR/USD, GBP/USD & AUD/USD.

2. Index CFDs

Eightcap offers spot cash contracts on the NASDAQ CFD as well as other popular Indices. Futures indices contracts are not available.

3. Commodity CFDs

Eightcap Australia offers CFDs on Gold, Silver & Crude Oil.

4. Commodity CFDs

You can trade hundreds of Share CFDs on Eightcap using Direct Market Access Pricing.

5. Crypto CFDs

Eightcap Australia allows gives you exposure to the Crypto market with over 100 crypto CFDs.

Tools - 5/10/5

1. Economic Calendar (from TradingView)

With the economic calendar you can keep track of important data releases before they happen. This helps you strategize beforehand so you make informed decisions on trades.

2. Capitalise ai

Eightcap offers you access to the capitalise.ai platform whoch is used for writing codes to build trading robots. With capitalise.ai, you can write codes in plain English (instead of complex programming languages) and this is the advantage.

3. Flash Trader

EIghtcap has Flash Trader which is basically a software that asseses the risk in your trade and adds the Stop Loss & Take Profit by itself. This eliminates emotions when setting Stop Loss & Take Profit.

Trading Platforms - 4/5

1. TradingView

Eightcap offers the TradingView web platform so you can trade directy from the advanced charts that TradingView offers.

Eightcap is also highly rated by TradingView with a 4.7/5 stars rating.EIghtcap traders in the UK will get access to advanced charting & back testing on TradingView.

2. MetaTrader

Eightcap Australia has MT4 & MT5 platforms as web, desktop & mobie versions. However, Eightcap does not provide any MetaTrader upgrade kits.

How To Connect Eightcap To TradingView

Log in to TradingView

Visit the TradingView website, click on sign in and you get the option to sign in with your Google Account, Apple Account, LinkedIn Account, X Account, or email. elect any sign in method to proceed.

Choose an instrument to trade

To select an instrument to trade on TradingView, click on Markets and then select any instrument of choice.

Navigate To Super Charts

After choosing an instrument to trade, opt to view the instrument on Super Charts by clicking on the "see on super charts" button.

Open Trading Panel

To see a list of brokers on TradingView, click on Trading Panel.

Proceed to expand the trading panel by clicking on the expand icon by the bottom far right hand side.

Choose Your Broker

After the trading panel opens, you will see a list of all the forex brokers on TradingView.

Select Eightcap from the list of brokers and connect with your login details.

Customer Support - 4.3/5

1. Telephone Support

You can reach Eightcap in Australia 24/5 through telephone support but their lines are not toll-free & you cannot request call back..

2. Live Chat

Eightcap Live Chat is available 24/5 & their response time is instant during weekdays; but during weekends there is no bot to respond to you.

3. Email Support

Dedicated email addresses are available for complaint resolution during week days. Emails are responded to on the same day.

4. Personal Account Managers

Eightcap assigns Personal Account Managers to every account so you can reach out to them any time you have questions.

Final Verdict - 8/10

Eightcap Australia has a great range of account types & traders get access to a good variety of instruments. Eightcap is one of the best forex brokers in Australia for scalpers.

However, areas for improvement include beginner education which is missing & range of tool sets such as calculators, etc.