EightCap – what we know and have as facts about it; This is a trade name of Eightcap Pty Ltd, which is authorized and regulated by the Australian Securities and Investments Commission (ASIC) under license number 391441. This license allows it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Product Disclosure Statement file that is a market maker, not a broker, and always acts as the principal for its own benefit. The company may hedge the liability to clients but not every transaction is hedged. Trading with market makers creates a direct financial exposure for them, which may or may not be hedged in the underlying instrument. Where the financial exposure is not hedged, the market risk may increase for the market maker and it only will hope that customers will lose. Every loss of customers is their profit.
We also found that there are some posts in the forums about delayed deposits, deliberately manipulating prices to trigger stop loss orders, unjustified deleting of profitable trades, deleting the entire trading history and withdrawal issues.
So far, we have not received any complaints from customers of EightCap. If you have any criticism to share with us or feel annoyed by EightCap, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and EightCap if you wish.