EightCap aka EightCapInvest has been flagged by Ontario Securities Commission for "Unregistered/Unlicensed entity offering financial products or services". EightCap aka EightCapInvest at www.eightcapinvest.com and EightCapInvest.io is not registered in Ontario to engage in the business of trading in securities. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I signed up with EightCap aka EightCapInvest after a family member had a good experience and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Intuitive for beginners|Stable platform
Cons: No dark mode on mobile
KYC with EightCap aka EightCapInvest is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Multi-currency support|Professional team
Cons: Wish they had more educational resources|Mobile app could be improved
I looked into EightCap aka EightCapInvest and found they appear in the regulatory warnings database. Ontario Securities Commission has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Cons: Flagged by international regulators|Due diligence required
EightCap aka EightCapInvest had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Good analytical tools|Easy to use platform|Educational resources
Cons: Mobile app could be improved|Live chat only during business hours
The so-called education at EightCap aka EightCapInvest is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for roughly four months thinking they would help me learn.
Pros: Educational resources|Multi-device support|API access
Cons: Some tools only available on higher tiers
If you are reading this considering EightCap aka EightCapInvest - run. I wish I had read more negative reviews after reading several online reviews. I thought the positive ones were real. Maybe some are. My experience over for about ten months has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Automated trading options|Instant funding
Cons: Some tools only available on higher tiers
Do not be fooled by the professional-looking website. Behind the scenes, EightCap aka EightCapInvest is disorganized and incompetent. I found them after seeing their ad online and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Wide product range|Customizable dashboard
Cons: Spreads widen during volatile periods|Currency conversion fee exists
I was about to invest with EightCap aka EightCapInvest but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Ontario Securities Commission has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
EightCap aka EightCapInvest changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Easy withdrawals|Economic calendar
Cons: Research section could be deeper|No live chat on mobile
The onboarding at EightCap aka EightCapInvest was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Easy withdrawals|Good mobile app
Cons: Account statements could be more detailed