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Best CFD Forex Broker Award 2024

Selecting the right CFD (Contracts for Difference) forex broker is essential for traders. These brokers have a substantial influence on your trading experience, and discovering the best one can significantly impact your results.

After checking some brokers from our shortlist, we decided to provide the Best CFD Forex Broker Award to Eightcap.

But what sets Eightcap apart from others?

Quality 1: Regulation and Safety

The most critical aspect of a leading CFD forex broker is its regulation and safety measures. Eightcap has a valid license from trusted authorities such as ASIC, FCA, CySEC, SCB, which means they follow strict rules. This not only protect your investment but also guarantees that Eightcap adheres to ethical standards and maintains financial stability.

Eightcap Review

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  • Checked the Eightcap regulatory status.
  • Verify their compliance with industry standards.

Eightcap operates under various regulatory licenses, ensuring a secure and transparent trading environment:

  • Eightcap Global Limited: Regulated by The Securities Commission of The Bahamas (SCB) with the license number SIA-F220. This regulatory oversight ensures adherence to standards that protect traders' interests.
  • Eightcap Pty Ltd (Australia): Regulated by the Australian Securities and Investments Commission (ASIC) with the license number AFSL 391441. This ensures compliance with Australian financial regulations, providing a trustworthy trading experience.
  • Eightcap Group Ltd (United Kingdom): Authorized and regulated by the Financial Conduct Authority (FCA) with FRN 921296. Registered in England and Wales under number 12448314, with a registered address at 40 Gracechurch Street, London, EC3V 0BT. This UK regulatory approval demonstrates commitment to financial integrity.
  • Eightcap Limited (Seychelles): Incorporated in the Seychelles with registration number 196744. The Seychelles regulatory environment provides an additional layer of oversight for secure trading operations.
  • Eightcap EU Ltd (Cyprus): Registered in Cyprus with Registration Number HE329922, Eightcap is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 246/14.
  • The registered office is located at Aiolou & Panagioti Diomidous 9, Katholiki, 3020, Limassol, Cyprus. This EU regulatory approval ensures compliance with European financial regulations, contributing to a safe trading environment.

Quality 2: Competitive Spreads

The best CFD forex brokers are renowned for providing competitive spreads. Spreads refer to the variance between the buying (ask) and selling (bid) prices of a CFD, and a narrower spread can significantly impact your trading costs.

The Eightcap provides tight spreads, reducing the cost of starting and closing trades.


  • Compared spreads across different brokers.
  • Looked for transparent pricing.

Traders in Eightcap can choose from various account types, each offering specific spreads to cater to different preferences. The Raw Account stands out with spreads starting from an impressive 0.0 pips, ideal for those seeking ultra-tight spreads and a direct market connection. For traders looking for a balance between competitiveness and simplicity, the Standard Account provides spreads starting from 1.0 pips, ensuring a straightforward and accessible trading experience. Additionally, the TradingView Account offers the same starting spread of 1.0 pips, tailored for those who prefer the advanced charting and analysis features of TradingView while benefiting from competitive spreads. With these diverse options, Eightcap allows traders to select an account type that best suits their individual needs and trading strategies.

Quality 3: Diverse Range of CFD Instruments

Another key feature of Eightcap is offering a wide variety of CFD instruments for trading. They give you access to a diverse collection, including currency pairs, indices, commodities, stocks, and cryptocurrencies. Having a broad selection allows you to use different trading strategies and explore various markets.


  • Evaluated the variety of CFDs offered.
  • Considered the trading preferences and chose Eightcap accordingly.

Eightcap offers a diverse range of investment options, aligning with industry standards. With access to 45 forex pairs and around 900 Contracts for Difference (CFDs), Eightcap provides a well-rounded selection of investment products for its clients. Traders can engage in the dynamic forex market with various currency pairs, offering opportunities to capitalize on global currency movements. Additionally, Eightcap's extensive list of approximately 900 CFDs covers a wide array of assets, allowing clients to trade on price movements without owning the underlying assets. It's worth noting that cryptocurrency trading is available through CFDs, providing a flexible approach for traders interested in the crypto market without the need to directly purchase digital assets like Bitcoin. This comprehensive offering positions Eightcap as a versatile platform catering to diverse investment preferences.

Quality 4: Advanced Trading Platforms

The top CFD forex brokers provide advanced trading platforms that empower traders. Platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are well-liked options. They are known for their easy-to-use interfaces, robust analytical tools, and customizable features. These platforms make trading smooth and effective.


  • Assessed the trading platforms provided.
  • Ensured they aligned with specific trading styles and preferences.

Eightcap offers three different trading platforms, catering to the diverse needs of traders. The TradingView platform stands out with its user-friendly interface, providing 9 timeframes, over 100 indicators, and access to more than 1000 symbols. Notably, TradingView's Strategy Tester adds a valuable dimension for traders to test and refine their strategies. For those who prefer the advanced features of MetaTrader 5 (MT5), this platform boasts 21 timeframes, 38 indicators, and unlimited symbol options, making it a powerful choice for comprehensive analysis. On the other hand, MetaTrader 4 (MT4) remains a popular and user-friendly platform with 9 timeframes, 30 indicators, and support for up to 1024 symbols. While lacking a dedicated Strategy Tester, MT4 is favored for its simplicity. With these platform options, Eightcap ensures traders have the flexibility and tools necessary to execute their trading strategies effectively.

Quality 5: Leverage Options

Leverage can boost your trading opportunities, but it should be provided with care. The Eightcap offers adjustable leverage choices, so you can pick the level of risk that suits you. However, be careful because high leverage can bring big profits, but it also raises the chance of substantial losses.


  • Examined the broker’s leverage options.
  • Practiced risk management when using leverage.

Eightcap provides traders with a variety of leverage options, offering flexibility to suit individual risk preferences. The leverage at Eightcap spans from 1:1 to 500:1, providing traders the ability to manage more significant positions with a comparatively smaller amount of capital. For instance, at a leverage of 500:1, traders can utilize $1,000 to manage a trade valued at $500,000. By default, all trading accounts with Eightcap are set to a leverage of 100:1, but traders have the freedom to adjust this setting according to their risk tolerance. Recognizing the importance of risk management, Eightcap implements specific leverage restrictions, aiming to assist traders in making informed decisions. These leverage options empower traders to tailor their approach and manage risk effectively in the dynamic financial markets.

Quality 6: Educational Resources

Eightcap CFD forex brokers recognize the value of education. They provide a rich collection of educational materials, including webinars, tutorials, and market analysis, to assist traders in improving their skills. These resources are particularly beneficial for individuals new to CFD trading.


  • Looked for educational materials provided by the broker.
  • Checked the advantages of these resources to improve trading knowledge.

Eightcap provides an educational resource with a focus on written content, offering a variety of articles covering fundamental concepts and trading strategies. However, in comparison to some other brokers, the platform currently has a limited selection of educational videos, with just a dozen available, and a handful of archived webinars like the TraderFest series, which explores topics related to CFDs and forex. While these videos are organized on the YouTube channel by playlist, there is room for improvement in terms of expanding the video library and organizing educational articles by experience level. Some brokers in this category offer comprehensive lesson programs with quizzes and progress tracking, features that are not currently available at Eightcap. Despite this, the introduction of Eightcap Labs has enhanced the selection of written educational content, with at least 74 articles providing valuable insights for traders. Balancing the educational offering by enriching the video content and organizing materials by experience level could further enhance the learning experience for Eightcap users.

Quality 7: Efficient Customer Support

Having responsive and effective customer support is a crucial characteristic of Eightcap. When you’re trading, you might come across problems or have questions, and a broker with great customer support can offer quick help. They should be accessible through various means, including live chat, email, and phone.


  • Tested the broker’s customer support responsiveness.
  • Ensured they offered support in your preferred language.

Eightcap offers effective customer support through email and live chat in multiple languages, providing traders with quick and responsive assistance. The live chat feature stands out for its fast response time, allowing users to get timely help with their queries. However, it's important to keep in mind that Eightcap's customer support is not available 24/7, which could be a limitation for traders who may require assistance outside regular business hours. Additionally, reaching phone support may pose a challenge, as reported by some users. While the availability of live chat and email support contributes to a positive customer service experience, enhancing accessibility through 24/7 support and improving phone support accessibility could further elevate the overall customer support offering at Eightcap.

Overview of Eightcap

Eightcap, a prominent player in the forex markets, presents a compelling overview with impressive features:

  • Minimum Spread: Experience competitive trading with a minimum spread of 0 pips, ensuring favorable conditions for traders.
  • Minimum Deposit: Start your trading journey with a minimum deposit of $100, making it accessible for a wide range of traders.
  • Financial Instruments: Dive into a diverse array of trading opportunities with over 800 financial instruments, allowing for a well-rounded and comprehensive trading experience.
  • Maximum Leverage: Benefit from flexibility in your trading strategy with a maximum leverage of 1:500, amplifying the potential for larger positions with a relztively smaller capital investment.
  • Client Base: Eightcap has garnered the trust of a substantial client base, boasting over 30 million clients. This impressive number underscores its reputation as a reliable and preferred choice among traders.

With these compelling figures, Eightcap establishes itself as a active and accessible platform, offering to the diverse needs of a vast community of traders.

Selecting a CFD broker that’s regulated and safe, offers competitive spreads, a diverse range of CFD instruments, advanced trading platforms, flexible leverage options, educational resources, efficient customer support, and risk management tools can greatly enhance your trading experience. That’s why we introduced the Best CFD Forex Broker Award to help you know the top broker in the industry.

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