Eightcap is a forex and CFD broker based in Melbourne. Eightcap Pty Ltd holds an ASIC licence, Eightcap Group Ltd is authorised by the FCA, Eightcap EU Ltd by CySEC, Eightcap Global Limited by the Securities Commission of The Bahamas and Eightcap International Ltd by the Seychelles FSA. The group parent is Eightcap Group Pty Ltd.
Research-based assessment This profile has not completed TTI’s on-site verification and 30-day platform review. How TTI verification works
| Regulator | Licence | Legal entity | Register status | Source |
|---|---|---|---|---|
| Australian Securities and Investments Commission (ASIC) | AFSL 391441 | Eightcap Pty Ltd | Authorised Checked 4 Oct 2026 | Register entry for Eightcap Pty Ltd (opens in a new tab) 1 |
| Financial Conduct Authority (FCA) | 921296 | Eightcap Group Ltd | Authorised Checked 4 Oct 2026 | Register entry for Eightcap Group Ltd (opens in a new tab) 2 |
| Cyprus Securities and Exchange Commission (CySEC) | 246/14 | Eightcap EU Ltd | Authorised Checked 5 Oct 2026 | Register entry for Eightcap EU Ltd (opens in a new tab) 3 |
| Securities Commission of The Bahamas (SCB) | SIA-F220 | Eightcap Global Limited | Authorised Checked 4 Oct 2026 | Register entry for Eightcap Global Limited (opens in a new tab) 5 |
| Financial Services Authority Seychelles (FSA) | SD100 | Eightcap International Ltd | Authorised Checked 4 Oct 2026 | Register entry for Eightcap International Ltd (opens in a new tab) 4 |
Each licence was matched on the regulator’s own register on the date shown. Unverified claims are listed under Regulation and legal entities.
All five Eightcap companies are on their regulators’ registers. Clients of the Australian, UK, EU and Seychelles companies have segregated client money and, with some limits, negative balance protection; the Bahamas agreement, however, lets client funds be used for hedging and offers negative balance protection only at Eightcap’s discretion, and neither offshore company names an independent dispute body. Ownership is visible through Companies House, which registers co-owners Joel Murphy and Joseph Jeffriess. The regulatory record is light: a self-reported Australian leverage breach that was remediated in 2023 and a 2025 Malaysian alert-list entry. Costs are described but current rates sit on web pages we could not read from our location.
We matched each company Eightcap names on its regulator’s register: Eightcap Pty Ltd on ASIC’s licensee data, Eightcap Group Ltd on the FCA’s list, Eightcap EU Ltd on CySEC’s register, Eightcap Global Limited on the Bahamas regulator’s list and Eightcap International Ltd on the Seychelles FSA’s list.
The licences named on the EU site and in each agreement match the registers we checked. We could not see the UK, Australian and international web pages.
Each agreement names the contracting company and its regulator, and the EU site names the other group companies and their regulators.
Companies House registers Joel Brian Murphy and Joseph Bernard Jeffriess as each holding more than a quarter of the UK company’s shares and votes, and its accounts name Eightcap Group Pty Ltd as parent and state that there is no single controlling party.
All five licences are current, with no suspension or restriction shown.
Reduced the enforcement dimension by 2 points (low severity, 2.9 years before the review).
Reduced the enforcement dimension by 2 points (low severity, 1.8 years before the review).
Not met The documents say client money is kept at top-tier or approved banks without naming them.
Partly met The Australian, UK, EU and Seychelles terms hold client money in segregated or trust accounts, but the Bahamas agreement lets client funds be used for hedging with liquidity providers.
Partly met CySEC authorises the Cyprus company to transmit and execute orders, and its execution policy says it acts as agent, the Bahamas regulator lists dealing as agent or principal and trading CFDs, and the FSA lists a securities dealer. ASIC authorises the Australian company to issue, deal in and make a market in derivatives and foreign exchange contracts. The FCA’s published list does not show the UK company’s permissions.
Each dimension is scored from its criteria, then weighted. Dimensions without enough evidence are left out and the remaining weights are rescaled. Open a dimension to see every criterion, our rationale and the sources.
Whether the firm’s licences exist, are current and cover what it offers.
Client-facing entities appear on the regulator’s register 123456
We matched each company Eightcap names on its regulator’s register: Eightcap Pty Ltd on ASIC’s licensee data, Eightcap Group Ltd on the FCA’s list, Eightcap EU Ltd on CySEC’s register, Eightcap Global Limited on the Bahamas regulator’s list and Eightcap International Ltd on the Seychelles FSA’s list.
Permissions cover the services offered 123457
CySEC authorises the Cyprus company to transmit and execute orders, and its execution policy says it acts as agent, the Bahamas regulator lists dealing as agent or principal and trading CFDs, and the FSA lists a securities dealer. ASIC authorises the Australian company to issue, deal in and make a market in derivatives and foreign exchange contracts. The FCA’s published list does not show the UK company’s permissions.
Criteria and their weighting are explained in the methodology.
Whether you can find out who owns and runs the firm.
Criteria and their weighting are explained in the methodology.
What protects client money if something goes wrong.
Criteria and their weighting are explained in the methodology.
Regulator warnings, enforcement actions and final legal findings on record.
Starts at 100 and loses points for each substantiated adverse finding by severity and age. Allegations, complaints and clone warnings never count. Total deducted: 4 points.
Eightcap compensated Australian clients after self-reporting CFD leverage limit breaches 21
9 Nov 2023. Reduced the enforcement dimension by 2 points (low severity, 2.9 years before the review).
Listed on the Securities Commission Malaysia Investor Alert List 22
1 Jan 2025. Reduced the enforcement dimension by 2 points (low severity, 1.8 years before the review).
Criteria and their weighting are explained in the methodology.
How the firm handles complaints, and what independent records show.
Independent complaint outcomes show no adverse pattern 25
The ombudsman has published no decisions about Eightcap Group Ltd in the last three years.
Complaint data is disclosed 25
We found no complaint statistics published by Eightcap, and its UK company is below the thresholds for the FCA’s and the ombudsman’s firm-level tables. AFCA publishes complaint figures for the financial firms that are its members, but its data site refused our requests, so we could not check the Australian company.
Criteria and their weighting are explained in the methodology.
Whether costs, execution and risks are disclosed before you sign up.
An order execution policy is published 7826
The EU execution policy explains that the company acts as agent and transmits orders to a liquidity provider, and the execution factors; the PDS explains that Eightcap sets prices and may take the other side of trades, and the target market determination describes its two CFD offerings.
Risk warnings are clear and current 6
The EU site warns that 71.90% of retail investor accounts lose money trading CFDs with this provider. We could not see the other regional sites.
Criteria and their weighting are explained in the methodology.
Whether public claims hold up and the firm communicates openly.
Marketing claims are accurate and attributable 6
The EU site presents group awards and recognitions without naming them on the pages we read.
Criteria and their weighting are explained in the methodology.
What our visit confirmed in person: a real, staffed office of the assessed entity, not a ghost address.
We have not checked this firm’s office in person, so this dimension scores zero. We check offices through our on-site verification programme.
Real office at the stated address, not a ghost address
Office of the assessed entity
Staffed and operating
Criteria and their weighting are explained in the methodology.
What our on-site checks and 30-day platform testing found.
We have not completed an on-site assessment of this firm, so this dimension does not count and its weight is shared among the others.
Company identity
Regulatory claims
Office visit
Account opening
Platform usability
Costs and disclosures
Customer support
Deposits and withdrawals
Trading functions
Complaints process
Criteria and their weighting are explained in the methodology.
A brand can trade through several companies, each licensed in a different place with different protections. Check which entity your account would be with.
Australian Securities and Investments Commission (ASIC) · Reference AFSL 391441 1
Issuing, dealing in and making a market in derivatives and foreign exchange contracts for retail and wholesale clients
Licence start date 29 April 2011.
Financial Conduct Authority (FCA) · Reference 921296 2
Cyprus Securities and Exchange Commission (CySEC) · Reference 246/14 3
Reception and transmission of orders, execution of orders and portfolio management; not dealing on own account
Securities Commission of The Bahamas (SCB) · Reference SIA-F220 5
Dealing as agent or principal, arranging deals and trading CFDs
Listed by the SCB as at 31 August 2026; the licence number is Eightcap’s own (the list shows none).
Financial Services Authority Seychelles (FSA) · Reference SD100 4
Securities dealer
The register does not show licence numbers; SD100 is from Eightcap’s agreement.
No licence recorded for this entity.
Warnings, enforcement actions, legal findings, allegations and complaint records are labelled separately. What each label means.
The Securities Commission Malaysia’s Investor Alert List includes “Eightcap” (www.eightcap.com/my) for carrying on unlicensed capital market activities of dealing in securities. The list records the entry under the year 2025 without a specific date; we use 1 January 2025. The entry was still on the list when we checked on 4 October 2026.
On 9 November 2023 ASIC reported that Eightcap Pty Ltd was one of seven CFD issuers that self-reported issuing CFDs to retail clients with leverage above the limits in ASIC’s CFD product intervention order, and that undertook remediation programs to compensate affected clients under ASIC’s review. ASIC did not impose a penalty. We record it as a settled matter of low severity because the breaches were self-reported and remediated.
Firms can respond to their profile and to any finding. No response has been published for Eightcap. How firms can respond.
| Review date | Result | Methodology | Status |
|---|---|---|---|
| 6 Oct 2026 | Trust score 84 out of 100 Strong | 1.2 | Current |
No corrections have been made to this profile.
Lists AFSL 391441 held by Eightcap Pty Ltd (ABN 73139495944), Melbourne, from 29 April 2011, covering general advice on, and issuing, dealing in and making a market in, derivatives and foreign exchange contracts for retail and wholesale clients.
Shows Eightcap Group Ltd (FRN 921296), first authorised 23 December 2020, with status Authorised.
Licence 246/14 granted on 30 July 2014, company registration 329922, formerly R Capital Solutions Ltd, address 157 Archiepiskopou Makariou III Ave, Office 301, 3030 Limassol. Approved domain www.eightcap.com/en-eu/. Services: reception and transmission of orders, execution of orders and portfolio management, with safekeeping as an ancillary service; dealing on own account is not listed.
Lists Eightcap International Ltd among licensed securities dealers at IMAD Complex, Office 2, Ile du Port, Mahe, with the trade name Eightcap and the website www.eightcap.sc, and Joel Brian Murphy and Joshua Raymond as representatives. The register does not show licence numbers.
Lists Eightcap Global Limited at 201 Church Street, Sandyport, West Bay Street, Nassau, registered for dealing in capital market instruments as agent or principal, arranging deals and trading CFDs. The list does not show licence numbers.
Requests to www.eightcap.com from our location went to this EU site. It says Eightcap is a brand of Eightcap EU Ltd (HE329922, CySEC 246/14) with registered office at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, warns that 71.90% of retail investor accounts lose money trading CFDs with this provider, and says awards it mentions apply to the whole group, including Eightcap Pty Ltd (ASIC), Eightcap Group Ltd (FCA) and Eightcap Global Ltd (SCB).
The company acts as agent and transmits orders to a third-party liquidity provider as execution venue; explains the execution factors, with price and costs first.
Issued under AFSL 391441; contact address Level 35, Rialto South Tower, 525 Collins Street, Melbourne. Client funds are held separately in a dedicated client trust account under the Corporations Act. Retail clients have negative balance protection and a compulsory 50% margin close-out. Eightcap is a member of AFCA. It charges no internal deposit or withdrawal fees; commissions and swap rates are set out on the website; conversions use the platform rate without a stated mark-up.
Agreement of the Bahamas company (IBC 204033 B, SCB SIA-F220, 201 Church Street, Sandyport, Nassau). Client funds are held in separately designated accounts unless used for hedging with liquidity providers. Negative balance protection applies at Eightcap’s sole discretion or where the law requires. A margin call applies at 80% and a stop-out at 50% of required margin. Changes need at least five calendar days’ written notice. No external dispute body is named.
Agreement of the Seychelles company (8427413-1, FSA SD100). Client money is paid into a segregated client bank account and all clients have negative balance protection. Eightcap may amend the agreement by written notice; clients are treated as accepting unless they object within five business days. Complaints follow a complaint management policy; no external dispute body is named in the agreement.
Client money is segregated under the FCA’s client money rules. The FSCS may cover eligible claims, and clients may complain to the Financial Ombudsman Service. Eightcap may vary the agreement by written notice, effective on the date in the notice or immediately if none is given.
Incorporated on 7 February 2020; registered office 40 Gracechurch Street, London EC3V 0BT. Directors: William David Hardy and Patrick Gerard Murphy. Joel Brian Murphy and Joseph Bernard Jeffriess are each registered, since 15 December 2020, as holding more than 25% but not more than 50% of the shares and voting rights.
Audited accounts for the 16 months to 30 June 2025, filed on 16 October 2025. The company executes FX and CFD trades for retail and professional clients. Its immediate and ultimate parent is Eightcap Group Pty Ltd of Australia, and the accounts state that there is no ultimate controlling party. Profit after tax was £638,355; the company depends on its parent’s support.
Prudential disclosures of the Cyprus company on own funds, risk management and governance.
Client money is placed in segregated client accounts and cannot be used in the company’s business. Retail clients have negative balance protection. The company may amend the agreement by written notice, effective on the date specified, with changes required by law taking effect immediately.
Client money is paid into a segregated client bank account. Retail clients have negative balance protection. Eightcap may amend the agreement by written notice; clients are treated as accepting unless they object within 10 business days, in which case their account is suspended.
States that the company is a member of the Investor Compensation Fund for clients of Cyprus investment firms and explains who is covered.
For investment firms that failed after 1 April 2019, the FSCS pays up to £85,000 per eligible person, per firm. The £120,000 limit, from December 2025, is for deposits.
Says client funds are segregated from the company’s own funds and kept in top-tier banks, without naming them, and that only regulated payment service providers are used.
Lists spreads, overnight financing, commissions and inactivity fees as the cost categories, says the company charges no internal deposit or withdrawal fees, and refers to the website for current rates; it does not state a currency conversion charge.
Release of 9 November 2023 naming Eightcap Pty Ltd among seven CFD issuers that self-reported issuing CFDs to retail clients with leverage above the limits in ASIC’s product intervention order and compensated affected clients under ASIC’s review.
Includes an entry dated 2025 for “Eightcap” (www.eightcap.com/my) for carrying on unlicensed capital market activities of dealing in securities.
On 5 October 2026 we searched ASIC’s licensee data and media releases, CySEC’s 1,173 board decisions, the FCA’s list, the CVM’s declaratory acts, KNF’s lists and the Indian, Securities Commission Malaysia and Bank Negara Malaysia alert lists, and ran web searches for other actions. The findings on this profile are what we found.
Complaints are acknowledged within five days; clients who are not satisfied with the final decision may go to the Financial Ombudsman of the Republic of Cyprus and CySEC within four months.
Neither dataset includes Eightcap Group Ltd, and the ombudsman has published no decisions about it; both datasets publish firm-level figures only above minimum complaint volumes.
Describes the two CFD offerings, direct to client and embedded in other products, and the target market for each.
Explains initial margin by instrument within the EU retail limits and a maintenance margin of 50% of the initial margin, below which positions close automatically.
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