Eightcap

Eightcap is an Australian brokerage and a reputable forex broker, known for holding licenses from several global regulators and supporting MetaTrader 4 and 5, TradingView and TradeLocker side by side. In this overview, the Teagle editorial team reviews Eightcap's licenses, accounts, platforms and payment methods based on Teagle's data and explains why this reputable broker is not a usable option for residents of Iran.

What kind of broker is Eightcap?

Eightcap's founding year is listed as 2015 in Teagle's profile, but the broker's own introduction mentions starting operations in 2009. According to Eightcap's own claims, it has more than 240 employees and offers over 850 tradable assets, including currency pairs, stocks, commodities and indices. Its additional services include cashback, rebates, education, copy trading and social trading, expert advisors and trading bots, an economic calendar and a forex calculator. According to Teagle's tags, scalping, hedging, news trading and phone trading are also allowed.

Eightcap's licenses and credibility

According to Teagle's latest review, Eightcap holds six active licenses:

• ASIC Australia (ABN 73 139 495 944) – active;
• FCA UK (No. 12448314) – active;
• CySEC Cyprus (No. HE329922) – active;
• SCB Bahamas (No. SIA-F220) – active;
• Financial Services Authority (No. 8427413-1) – active;
• Financial Services Commission (No. 227050) – active.

ASIC, FCA and CySEC are top-tier bodies, but according to the profile recorded on Teagle, Eightcap is also registered under offshore regulators, including Seychelles and Mauritius. This means the level of client protection depends on the entity under which the account is opened. To understand this difference, read the guide to broker regulation and tier ratings and the article offshore vs. onshore brokers .

Does Eightcap serve Iranians?

No. Teagle's experts found that Eightcap's regulatory structure is such that it does not serve Iranians; it has no Persian website or support, and "IP change required" is recorded in Teagle's tags. Therefore, traders residing in Iran cannot officially use this reputable broker. Opening an account by circumventing the restrictions strips the user of the very protections on which Eightcap's credibility rests.

Eightcap trading accounts

Eightcap has two main accounts, both offered with a $100 minimum deposit, floating spreads, leverage up to 1:500, a 50% margin call and stop-out, no-requote execution and an Islamic version:

• Standard account: commission-free, spreads from 1 pip.
• RAW account: spreads from 0 pips and a commission of $7 for AUD, USD, SGD, CAD and NZD accounts, $5 for GBP and $5.5 for EUR.

Teagle's expert considers Eightcap's cost structure transparent. To decide between these two models, the article ECN accounts and how they compare with other accounts can help.

Eightcap trading platforms

Platform variety is Eightcap's biggest advantage: MetaTrader 4 and 5 for Windows, Mac, Android, iOS and web, plus TradingView and TradeLocker. Direct integration with TradingView is appealing for those who want analysis and trading in one environment; we have explained how it works in our guide to connecting a broker account to TradingView . For copy and social trading, the article the difference between social trading and copy trading is also useful.

Deposits and withdrawals at Eightcap

• Bank transfer: minimum withdrawal $25, deposits and withdrawals in 1 to 5 business days.
• Neteller and Skrill: instant deposits, minimum withdrawal $50 and withdrawals within 1 business day.
• Visa and Mastercard: instant, fee-free deposits; withdrawals in 2 to 5 business days.
• BPAY: deposits in 1 to 2 business days, minimum withdrawal $25 and withdrawals in 1 to 3 business days.

Withdrawal fees are recorded as zero for all methods. Teagle's data shows no Rial or crypto payment method for Eightcap.

Eightcap's score and risk on Teagle

Eightcap's final score on Teagle is 3.56 out of 5: Teagle expert 4.2, Trustpilot 4.1, WikiFX 3.87 and Forex Peace Army 2.07; no reviews from Teagle users have been posted yet. The Teagle Eye risk index for this broker is 21 out of 100, in the "low to medium risk" category; six active licenses and over a decade of history are the main factors behind this figure. See the list of low-risk brokers in the ranking of the lowest-risk brokers .

Pros and cons of Eightcap

• Pro: high credibility and ASIC, FCA and CySEC licenses
• Pro: support for TradingView, TradeLocker and MetaTrader 4 and 5
• Pro: transparent cost structure and fee-free withdrawals
• Pro: Islamic option on both accounts
• Con: does not serve Iranians and requires an IP change
• Con: no Persian support or website

Who is Eightcap suitable for?

In the view of Teagle's expert, Eightcap is a good option for beginner and professional traders who use TradingView and TradeLocker and reside in a permitted country. It is not suitable for users living in Iran. If you are outside Iran, weigh it against its Australian rival in the Eightcap vs. Pepperstone comparison .

Conclusion

Eightcap scores acceptably on both credibility and services, but it is not available to residents of Iran. If you are eligible, check the entity providing your account, start with a small amount, make a test withdrawal and follow the latest warnings on Teagle's risk warning page .