Best forex brokers in 2022

An international forex broker based in Australia named Eightcap was established in 2009. The corporation runs two entities that are governed by the Vanuatu Financial Services Commission and the Australian Securities and Investments Commission (ASIC) (VFSC). 

Due to its top-tier ASIC regulation, Eightcap is regarded as secure. 

Pros of Eightcap

• Among Australian forex brokers, Eightcap has one of the lowest forex commissions. With free deposits and withdrawals on an intuitive website, creating an account was a quick and easy process. 
• Eightcap (often referred to as “8 cap”) was established in 2009 and is governed by two tier-1 and one tier-2 jurisdictions. 
• Eightcap offers a vast selection of written content. 
• provides a wide range of more than 200 cryptocurrency CFDs.

Cons of Eightcap

On the down side, Eightcap’s product line is limited to CFDs (share, commodities, and cryptocurrency) and forex. There are few resources for research and education. Additionally, there is no system in place to protect investors.

Is Eightcap secure? 

This eightcap review will educate you as to whether or not eightcap is secure. Eightcap has an overall Trust Score of 87 out of 99, which is regarded as average-risk. In addition to not operating a bank and not being publicly traded, Eightcap is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). Tier-1 regulators Australian Securities & Investment Commission (ASIC) and Financial Conduct Authority have granted Eightcap authorization (FCA).

Fees and commissions 

Eightcap offers two account types through all of its international subsidiaries, including those in Vanuatu and Australia. Whether you select the spread-only Standard account or the commission-based Raw account will determine the commissions and fees you must pay. 

For its commission-based Raw account, Eightcap lists an average spread of 0.06 pip. However, after accounting for the $3.50 a trade per side commission, the total cost comes to about 0.76 pips, which is just under the industry standard of 0.8 pips. It’s important to note that the published average spread statistics from Eightcap did not include a date range.

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