Eightcap has been flagged by Securities Commission for "Unregistered/Unlicensed entity offering financial products or services". Carrying on unlicensed capital market activities of dealing in securities This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Do not use Eightcap for anything serious. I used them since early this year for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Fast execution|Clean UI|Demo account available
Cons: Live chat only during business hours
The platform at Eightcap is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for about five months of dealing with this, I have had enough.
Pros: Smooth onboarding|High security standards|Real-time alerts
Cons: Help articles are sometimes vague|Alert system is basic
I referred a friend to Eightcap after a trusted YouTuber reviewed them. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Helpful community forum|Fast support response|Good analytical tools
Cons: Would like more payment methods
Eightcap has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Multiple order types|API access|Risk management tools
Cons: Account statements could be more detailed
I invested $2,000 with Eightcap after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Securities Commission.
Cons: Blocked my account|No legitimate license|Fake returns
I joined Eightcap after a trusted YouTuber reviewed them and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Multi-currency support|Educational resources|Fast execution|Intuitive for beginners
Cons: Withdrawal takes 1-2 business days
I had high hopes for Eightcap after attending a webinar they hosted, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: High security standards|Clean UI|Wide product range|Competitive fees
Cons: Account statements could be more detailed
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
Tried to withdraw my funds from Eightcap and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Professional looking website
Cons: Lost entire investment|Reported to authorities|Unresponsive
Customer support at Eightcap seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Multi-device support|Comprehensive tools
Cons: Research section could be deeper|Onboarding videos are outdated