Seventy-five euros. That is what Eightcap EU Ltd's own Commissions, Charges and Other Costs document, version 3.2, says a €10,000 EUR/USD position costs over five days: €30 of spread, €20 of commission, €25 of swap, or 0.75% of the money you put up before the market moves a pip. The figure is the only aggregate cost number Eightcap puts in front of a prospective European client, it is the number MiFID II requires it to publish, and it does not correspond to either account the firm actually sells.
The reason matters more than the euros. Eightcap EU runs two forex tiers that are defined against each other: Raw quotes spreads from 0.0 pips and charges commission, Standard quotes spreads from 1.0 pips and charges no commission on FX at all. Section 7 of the same PDF says so explicitly. The €75 illustration charges a Standard-grade spread and a Raw-grade commission on the same trade. Read "Investment: €10,000" as margin at the stated 1:30, and the position is €300,000, three standard lots; €30 of spread is then €10 a lot, which is the Standard tier's one-pip floor, while €20 of commission is €6.67 a lot round turn, a charge that exists only on Raw and matches none of its three published rates. Read €10,000 as notional instead and the spread becomes thirty pips. Neither reading produces an account you can open.
Key facts
- Licence: Eightcap EU Ltd, CySEC 246/14, granted 30 July 2014, company HE 329922, Limassol — CySEC Cypriot Investment Firms register, retrieved 3 September 2026
- Raw commission: USD 3.50, EUR 2.75 or GBP 2.25 per standard lot per side — eightcap.com/en-eu account options page, 3 September 2026
- Standard tier: spreads from 1.0 pips, no FX commission; minimum deposit $100 on both tiers — same page, same date
- Retail loss rate: 71.90% of retail investor accounts lose money with Eightcap EU Ltd — site-wide risk warning, 3 September 2026
- Inactivity fee: 10 EUR/GBP/USD a month after three calendar months without a trade or deposit — Costs and Charges v3.2
- Investor cover: 90% of a valid claim, capped at €20,000, via the Cyprus Investor Compensation Fund — Eightcap EU Investor Compensation Funds Policy
- Australian arm: Eightcap Pty Ltd, AFS licence 391441, ABN 73 139 495 944, licensed 29 April 2011 — ASIC AFS Licensee Dataset, September 2026 release
The raw tier
Everything else follows from one line on the account options page: "EUR2.75, GBP2.25, USD3.50 (each side per standard lot traded)". Three fixed nominal amounts, not one figure converted at spot. On the European Central Bank reference rates for 2 September 2026, 1.1578 dollars to the euro and 0.85870 pounds to the euro, those three prices are not the same price.
| Account base currency | Commission per side | Round turn, 1 lot | USD equivalent | FX rate the schedule implies |
|---|---|---|---|---|
| USD | $3.50 | $7.00 | $7.00 | — |
| EUR | €2.75 | €5.50 | $6.37 | 1.2727 USD/EUR |
| GBP | £2.25 | £4.50 | $6.07 | 1.5556 USD/GBP |
A sterling Raw account costs 13.3% less per round turn than a dollar one at the same broker, on the same liquidity, through the same MetaTrader server. The implied sterling rate of 1.5556 was last a live market price around 2014. This is not an Eightcap invention; this desk documented an eleven-currency version of the same effect at FP Markets a week ago. What is specific to Eightcap is that the euro leg, the one a Cyprus-licensed firm's European clients will default to, sits in the middle rather than at the cheap end.
The peer set
Comparing raw tiers across brokers is where most reviews go wrong, because the tier names collide and the platforms do not. IC Markets charges $3.50 a side on MetaTrader and $3.00 per $100,000 on cTrader; Pepperstone quotes a different fixed amount in each of ten account currencies. Every figure below was read this session off the broker's own live pricing page, on the CySEC-licensed entity, on the MT4/MT5 raw tier.
| Entity (CySEC licence) | Raw tier, MT4/MT5 | USD account | EUR account | GBP account |
|---|---|---|---|---|
| Eightcap EU Ltd (246/14) | Raw | $7.00 | €5.50 ($6.37) | £4.50 ($6.07) |
| IC Markets (EU) Ltd (362/18) | Raw Spread | $7.00 | €6.50 ($7.53) | £5.50 ($7.42) |
| Pepperstone EU Ltd (388/20) | Razor | $7.00 | €5.20 ($6.02) | £4.50 ($6.07) |
| Tickmill Europe Ltd (278/15) | Raw | $6.00 | $6.00 | $6.00 |
| First Prudential Markets Ltd (371/18) | Raw | $6.00 | $6.00 | $6.00 |
Round turn per standard lot, converted at the ECB euro reference rate for 2 September 2026. Two structural camps show up immediately. Tickmill Europe and FP Markets EU each quote a single US dollar figure and convert it, so every client pays the same real price whatever currency they hold. Eightcap, IC Markets and Pepperstone fix a nominal amount per currency, so the real price drifts with the exchange rate until somebody updates a table. Eightcap's euro leg is 5.8% dearer than Pepperstone's, while their sterling legs are identical to the penny at £2.25 a side.
On a dollar account there is nothing to choose between Eightcap, IC Markets and Pepperstone: all three charge $7.00 round turn, 16.7% above the $6.00 that Tickmill Europe and FP Markets EU charge on the same tier. A trader turning over 200 lots a month pays $1,400 in commission at the first three and $1,200 at the second two.
Swaps and financing
Commission is the cost every broker publishes because it is the one that flatters them. The overnight leg is larger and Eightcap EU does not publish it anywhere. Its forex markets page carries a comparison table with columns for minimum Raw spread and minimum Standard spread, and no swap column; EUR/USD shows 0 and 1.0, USD/JPY 0.1 and 1.1, AUD/USD 0.2 and 1.2. There are no average spreads either, only minima. The Costs and Charges document explains the swap mechanism, says rates are charged at 00:00 GMT+2 and tripled on Wednesdays to carry the weekend, then directs the client to the trading platform, which requires an account.
Here is what that omission costs in dollars. Take one standard lot of EUR/USD, Eightcap EU Raw, euro-denominated, held long for three nights. Commission is €5.50, or $6.37. The spread on a raw tier is not zero in practice; both Pepperstone and IC Markets publish 0.1 pips as their live EUR/USD raw average, which is $1.00 a crossing. For the overnight leg the only comparable live number retrievable this session is Tickmill Europe's, whose costs page states a current EUR/USD long swap of −4.8 points, or $4.80 per lot per night.
| Cost component | Amount | Share of total | Published by Eightcap before signup? |
|---|---|---|---|
| Commission, €2.75 × 2 sides | $6.37 | 29% | Yes, exact |
| Spread, one crossing at 0.1 pips | $1.00 | 5% | Minimum only, no average |
| Swap, three nights long at peer benchmark | $14.40 | 66% | No |
| All-in, three-night hold | $21.77 | 100% |
The swap figure is Tickmill's, not Eightcap's, and is used here only because Eightcap supplies no equivalent. That is the point. Two-thirds of the cost of a three-day position is invisible until after onboarding, and the claim built on the visible third is itself dated: the "compare spreads" widget on the costs page footnotes its data "as at October 1, 2025 [source: TradeProofer]", eleven months stale on the day of retrieval.
Entities and cover
From a European address, www.eightcap.com issues a 308 redirect on every path to /en-eu/, with a response header reading 8cap-detected-region: eu. The Australian and global pages could not be read from here, so this review is scoped to the entity that actually onboards European clients, plus what the registers themselves say.
| Entity | Regulator and number | Serves | Retail leverage | Statutory cover |
|---|---|---|---|---|
| Eightcap EU Ltd, HE 329922 | CySEC 246/14, granted 30 Jul 2014 | EEA clients via eightcap.com/en-eu/ | 1:30 on major FX | Investor Compensation Fund, 90% of claim to €20,000 |
| Eightcap Pty Ltd, ABN 73 139 495 944 | ASIC AFSL 391441, since 29 Apr 2011 | Australian clients | 1:30 retail under ASIC product intervention | None equivalent; no statutory compensation scheme |
Two checks came back clean. The CySEC register lists Eightcap EU Ltd at licence 246/14 with the company number the website prints, and CySEC's separate List of Approved Domains shows the firm's approved domain as exactly https://www.eightcap.com/en-eu/ — the path the geo-router sent me to. That is a stronger result than it sounds; the same check on HFM found the firm's main domain absent from the list entirely.
One ASIC detail is worth flagging. Eightcap Pty Ltd's authorisation, read off the regulator's licensee dataset, covers general financial product advice on derivatives and FX contracts. Pepperstone Group Limited (AFSL 414530) and First Prudential Markets Pty Ltd (AFSL 286354) hold the broader advice authorisation on the same register. The practical difference for a retail CFD client is small, but reviews that call all three "ASIC regulated" flatten a real distinction.
Where it loses
Three things cost Eightcap marks here, and none of them is the headline commission. The first is the inactivity fee: 10 EUR, GBP or USD a month after three calendar months without a trade or a deposit. Three months is a short dormancy window for a product people trade seasonally, though the policy carves out clients who hold at least one active account elsewhere in the group.
The second is the withdrawal schedule sitting under a sentence that reads "Eightcap EU Ltd does not charge any internal fees for deposits or withdrawals". Routed through JP Morgan Dublin, a bank withdrawal is free. Routed through Eurobank, it costs €4 up to €1,000, rising to €10 at €50,000, then 0.15% capped at €350 above that, plus 0.30% with a €6 minimum and €500 maximum if the account is debited in another currency. Those fees are the processor's, not the broker's, and they still leave the client's balance.
The third is disclosure asymmetry. Minimum spreads without averages, no swap table, a cost illustration that blends two tiers, and a spread-comparison claim resting on data from October 2025. Compare that with what a prospective client can read before opening anything at Capital.com or at Pepperstone, which publishes minimum and average spreads side by side for every instrument.
The verdict
Rating: 3.4 out of 5. The licence checks out on the register and on the approved-domain list, the client portal is live, the margin rules are ordinary for a CySEC firm at 1:30 with an 80% margin call and a 50% stop-out, and the initial margin on one EUR/USD lot works out at €3,333.33 against €1,666.66 of maintenance. Nothing here looks like a firm with a problem. The commission is mid-table: cheaper than IC Markets in euros, dearer than Pepperstone in euros, identical to Pepperstone in sterling, and 16.7% above Tickmill Europe on a dollar account.
What holds the score down is that the cheapest version of Eightcap is not the one most clients will buy. The sterling Raw account at £2.25 a side is competitive with anything on this list and the dollar Raw account at $3.50 a side is not. Add an unpublished overnight cost that dominates the total on anything held past a session, and the honest reading is that Eightcap's pricing is fine and its pricing disclosure is a tier below the best in its own regulatory cohort.
RelatedActivTrades Review 2026: EUR/USD Runs 0.8 Pips, Not 0.5
Three cheap fixes would move the rating up. A public swap table, as Tickmill and Pepperstone publish, is worth half a point on its own. Two worked cost examples, one per account tier, would repair the clearest defect in the regulator-facing disclosure. A spread comparison newer than October 2025 would be the third.
Questions readers ask
Is Eightcap regulated?
Eightcap EU Ltd holds CySEC licence 246/14, granted on 30 July 2014, and appears on the CySEC Cypriot Investment Firms register under company number HE 329922, checked on 3 September 2026. Eightcap Pty Ltd holds Australian financial services licence 391441, granted 29 April 2011, per ASIC's own licensee dataset. Which entity onboards a client depends on residence.
How much does the Eightcap Raw account cost?
USD 3.50, EUR 2.75 or GBP 2.25 per standard lot per side, depending on the account's base currency, on top of spreads quoted from 0.0 pips. At ECB reference rates for 2 September 2026 those are $7.00, $6.37 and $6.07 per round turn respectively. The Standard account charges no FX commission and quotes spreads from 1.0 pips.
Does Eightcap publish swap rates?
Not on the European site. The forex instrument table lists minimum spreads for both account tiers and no swap column, and the Costs and Charges document points clients to the trading platform instead. Overnight financing is charged at 00:00 GMT+2 and applied three times on Wednesday to cover the weekend.
What protection does a European Eightcap client have?
Clients of Eightcap EU Ltd fall under the Cyprus Investor Compensation Fund, which pays 90% of a valid claim up to a ceiling of €20,000. That is a firm-failure backstop, not protection against trading losses. Retail leverage is capped at 1:30 on major currency pairs under ESMA rules.
Is Eightcap cheaper than Pepperstone or IC Markets?
On a euro account it sits between them: €5.50 round turn against Pepperstone's €5.20 and IC Markets' €6.50, all on the MT4/MT5 raw tier at the CySEC entity. On a dollar account all three charge $7.00. On sterling, Eightcap and Pepperstone are identical at £4.50 and IC Markets charges £5.50.
Method and disclosure
Every commission, spread and fee above was read directly from the named broker's live published schedule during a single session on 3 September 2026, not from an older review or an aggregator. Conversions use the ECB euro reference rates for 2 September 2026, the most recent published set. Licence details come from the CySEC and ASIC registers rather than the brokers' own claims. Trustpilot blocks automated retrieval, so no customer-rating figure appears here.
This article is analysis and information, not investment advice or a recommendation to open an account with any firm named in it. CFDs are complex leveraged instruments; Eightcap EU Ltd's own disclosure states that 71.90% of its retail investor accounts lose money. Capital is at risk and losses can exceed deposits at firms without negative balance protection. Costs and licence details change; verify against the primary sources linked above before acting on anything here.