Eightcap is an Australian forex and CFD broker regulated by ASIC and the FCA, with an offshore entity under the Bahamas SCB. Its deposit bonus pays trading credit on a fixed table, 50% on deposits up to $1,000 and a maximum $1,000 credit at $5,000, which converts to withdrawable cash only at $1.00 per standard FX lot traded. Its former monthly demo trading contest and Australian refer-a-friend scheme have both ended.
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
Eightcap
Eightcap adds trading credit to your deposit on a fixed table ($500 on a $1,000 deposit, a 50% match; 20% only at $5,000) that you unlock as withdrawable cash by trading $1.00 worth of credit per standard FX lot.
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Eightcap is a CFD and forex broker founded in Melbourne, Australia. The company's own materials date its founding to 2009, though the Eightcap brand as it operates today traces to a 2015 relaunch. The Melbourne entity, Eightcap Pty Ltd, remains the group's home base and its most heavily regulated arm.
Eightcap has grown into a multi-entity operation serving clients through separate legal entities depending on where the client is based. This structure is common among CFD brokers and directly affects which protections and which promotions a given trader can access.
Eightcap Pty Ltd is authorized and regulated by ASIC under license 391441. Eightcap Group Ltd is authorized by the UK FCA (921296). Eightcap EU Ltd is regulated by CySEC under license 246/14, covering the EEA. Clients outside these three jurisdictions are typically onboarded through Eightcap Global Limited, licensed by the Securities Commission of The Bahamas (SIA-F220), with affiliated entities registered in Seychelles and Mauritius.
ASIC has flagged past compliance issues: in 2023 the broker self-reported breaches of Australia's retail leverage limits, including cases of clients being misclassified as wholesale, and it agreed to remediate affected customers. That is materially relevant history for anyone weighing which entity to trade with. The offshore entities operate under lighter-touch regimes than the ASIC, FCA or CySEC arms, so confirm which entity you are actually opening an account with.
Eightcap offers more than 800 CFD markets spanning forex, indices, commodities, equities and crypto derivatives, including a notably large crypto CFD lineup of over 100 tokens. Platforms include MetaTrader 4, MetaTrader 5, TradingView with direct in-chart execution, and TradeLocker.
Two core live account types are available: Standard and Raw. The Standard account has no commission with spreads from around 1.0 pips. The Raw account charges a per-lot commission (roughly $3.50 per side per standard lot for USD accounts) in exchange for spreads from 0.0 pips. Both share the same $100 minimum deposit and market access.
Eightcap's deposit bonus, marketed as a 20% bonus, is issued through Eightcap Global Limited, the Bahamas-regulated entity, not through the ASIC, FCA or CySEC entities. This matters because regulated brokers in those stricter jurisdictions are barred from offering deposit bonuses to retail clients, which is exactly why this promotion runs through the offshore entity. Third-party reviews report that clients in Australia and the United States cannot take part, although the official terms do not list excluded countries.
The credit follows a fixed table that pays more on smaller deposits: $50 on a $100 deposit, $250 on $500 and $500 on $1,000 (a 50% match), then $700 on $2,000 and a maximum of $1,000 on $5,000, the only tier where the match is 20%. Per Eightcap's own terms, the credit is not cash: it converts into withdrawable real equity at $1.00 per standard FX lot traded ($0.50 for clients referred by an introducing broker), settled weekly, and only currency pairs count. Withdrawing the original deposit at any point cancels all unconverted bonus credit. The terms are governed under Vanuatu law, another marker that this sits outside Eightcap's core regulated entities.
Eightcap previously ran a monthly demo trading contest (recent editions had a $1,800 total prize pool split among the top three finishers) and, on its ASIC-regulated Australian site, a refer-a-friend scheme paying AUD 100 per qualified referral. Both have ended: the contest site no longer resolves and the refer-a-friend pages return Page Not Found. The site now promotes its paid Challenges simulated-funding program instead, which is a product you buy rather than a bonus.
Account opening and verification follow standard KYC steps: government ID, proof of address and, depending on the entity, a suitability questionnaire. Which entity a new client is routed to depends on stated country of residence, and this determines both the regulatory protections available and eligibility for promotions.
Funding methods include cards, bank transfer, PayPal, Skrill, Neteller and crypto, with a $100 minimum deposit across the core account types. Check your account's regulating entity in the client portal before assuming any advertised bonus applies to you, since eligibility differs by entity and region.
Yes, but the strength of regulation depends on which entity holds the account. Eightcap Pty Ltd is regulated by ASIC in Australia (391441), Eightcap Group Ltd by the FCA in the UK (921296), and Eightcap EU Ltd by CySEC (246/14). Clients outside these regions are generally onboarded through Eightcap Global Limited, regulated offshore by the Securities Commission of The Bahamas.
Yes. It is marketed as a 20% bonus, but the trading credit follows a fixed table: 50% on deposits up to $1,000 (a $1,000 deposit earns $500), falling to 20% at $5,000 for the $1,000 maximum. It is issued through the Bahamas-regulated Eightcap Global entity, and third-party reviews report that Australian and US clients are excluded. The credit converts to withdrawable cash only at $1.00 per standard FX lot traded, and it is not available to clients on the ASIC, FCA or CySEC entities.
$100 across the Standard, Raw and TradingView account types.
MetaTrader 4, MetaTrader 5, TradingView with direct chart-based execution, and TradeLocker, plus an MT5-only automation tool called FlashTrader.
The Standard account has no commission and spreads from around 1.0 pips. The Raw account charges a per-lot commission (about $3.50 per side per standard lot for USD accounts) in exchange for spreads from 0.0 pips. Both require the same $100 minimum deposit.
Yes. Eightcap self-reported to ASIC in 2023 that it had breached Australia's retail leverage limits on multiple occasions and had misclassified some retail clients as wholesale clients, and it agreed to compensate affected customers.