Eightcap is a forex and CFD broker offering online trading services to traders and investors worldwide. The broker provides a diverse range of trading instruments, including Forex, commodity, crypto, index, share. It also supports multiple trading platforms and tools such as MT4, MT5, TradingView.
Although Eightcap is regulated by several authoritative bodies, including CySEC, FSA-Seychelles, CBCS, FSC in BVI, FSCA, FSC in Mauritius,CMA, it is not regulated by BaFin. In this article, we will explore Eightcap’ regulations, and its features, and provide a list of alternative brokers that are regulated by BaFin.
Does Eightcap Operate Under BaFin?
No, Eightcap does not operate under BaFin regulations. The broker is regulated by several other reputable financial authorities, including the CySEC, FSA-Seychelles, CBCS, FSC in BVI, FSCA, FSC in Mauritius,CMA. These regulatory bodies ensure compliance with various standards for financial stability, transparency, and investor protection, though they do not provide the specific protections offered by the BaFin in the UK.
What Other Regulations Does Eightcap Have?
CySEC:
Eightcap is regulated by CySEC under. Established in 2001, Cysec is Cyprus’s financial regulator. Since Cyprus joined the European Union in 2004, CySEC’s regulations align with the MiFID directive, ensuring compliance with EU-wide financial standards and investor protection. This regulation allows the broker to offer services across the European Economic Area (EEA) under the MiFID II directive, ensuring investor protection and transparency. CySEC regulation requires brokers to follow strict guidelines for handling client funds, including segregation and periodic reporting.
FCA:
Eightcap is regulated by the Financial Conduct Authority (FCA) in the UK. The FCA, established in 2013, is responsible for regulating financial markets and firms in the United Kingdom.
The FCA requires Eightcap to adhere to strict guidelines for financial conduct, including maintaining adequate capital, safeguarding client funds, and ensuring transparency in its operations. This includes keeping client money separate from company funds and providing regular financial reports. FCA regulation helps ensure that Eightcap operates securely and fairly, offering a high level of protection and trust for clients in the UK and across Europe.
FSA-Seychelles
Eightcap is regulated by the Financial Services Authority (FSA) of Seychelles. The FSA, established in 2013, oversees the financial services sector in Seychelles to ensure compliance with regulatory standards and to protect investors.
The FSA requires Eightcap to adhere to guidelines for managing client funds, which include keeping client money separate from company funds and providing regular financial reports. This regulation helps ensure that Eightcap operates securely and transparently, particularly for clients in Seychelles, and maintains a trustworthy trading environment.
CBCS
Eightcap is regulated by the Centrale Bank van Curaçao en Sint Maarten (CBCS). The CBCS, established in 1828, is the central bank for Curaçao and Sint Maarten, overseeing financial institutions and maintaining financial stability in the region.
The CBCS requires Eightcap to adhere to regulations that ensure financial stability and investor protection. This includes maintaining adequate capital, safeguarding client funds by keeping them separate from company assets, and providing regular financial reports. CBCS regulation helps ensure that Eightcap operates securely and transparently, offering a reliable trading environment for clients in Curaçao, Sint Maarten, and beyond.
FSC in BVI
Eightcap is regulated by the Financial Services Commission (FSC) in the British Virgin Islands (BVI). The FSC, established in 2001, is the regulatory authority overseeing financial services and institutions in the BVI.
The FSC requires Eightcap to comply with strict regulations, including maintaining adequate capital, protecting client funds by keeping them separate from company assets and ensuring transparent financial reporting. This regulation helps ensure that Eightcap operates securely and reliably, providing a trustworthy trading environment for clients in the BVI and internationally.
FSC in Mauritius
Eightcap is regulated by the Financial Services Commission (FSC) of Mauritius. The FSC, established in 2001, is the regulatory authority overseeing non-bank financial services in Mauritius.
The FSC requires Eightcap to adhere to strict regulations, including maintaining adequate capital reserves, safeguarding client funds by keeping them separate from the company’s assets, and providing regular financial reports. These requirements help ensure that Eightcap operates transparently and securely, offering a reliable trading environment for clients in Mauritius and beyond.
CMA
Eightcap is licensed and regulated by the CMA in Kenya. Founded in 1989, The CMA of Kenya regulates the Kenyan capital markets, including forex trading. The CMA allows a maximum leverage of 1:400 and ensures that financial institutions adhere to standards for transparency, fairness, and investor protection. It is operated by the Kenyan government. For more information, visit the CMA website.
Best Bafin Regulated Forex Brokers: Alternatives to Eightcap
Eightcap is one of the leading forex and CFD brokers. The broker is not regulated by BaFin. It is regulated by other top-tier regulators includingCySEC, FSA-Seychelles, CBCS, FSC in BVI, FSCA, FSC in Mauritius,CMA. There are several BaFin regulated brokers that can serve as alternatives to Eightcap. These brokers include:
- Founded In: 2010
- Minimum Deposit: $0, Recommended: $200
- Maximum Leverage: 500:1
- Regulations: FCA, ASIC, CySEC, BaFIN, DFSA, CMA, and SCB
- Trading Platforms : MT4, MT5, cTrader, TradingView and Own Trading Platforms
- Trading Instruments: Forex, Commodities, Indices, Currency Indices, Cryptocurrencies, Shares, ETFs, and CFD Forwards.
- Founded In: 1989
- Minimum Deposit: $0
- Maximum Leverage: 1:500
- Regulations : FCA, ASIC, BaFin, IIROC, FMA, MAS
- Trading Platforms : MT4 , Share trading platforms
- Trading Instruments: Forex Major, Forex Crosses, Forex Minor, Metals, Oil , CFD, Stock indices
- Founded In: 1974
- Minimum Deposit: $0
- Maximum Leverage: 1:200
- Regulations: ASIC, FCA, JFSA, SFC (Hongkong), FSCA, MAS, FMA, GmbH, FINMA
- Trading Platforms: MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
- Trading Instruments: Forex, indices, Cryptocurrencies, Shares, Commodities
- Founded In: 2005
- Minimum Deposit: $50
- Maximum Leverage: 1:500
- Regulations: ASIC, Austrac, Bafin, CIMA, ESCA, CySEC, FSC, FMA, MAS, TFG, VFSC, FSCM, FSAS
- Trading Platforms: MT4, MT5, Multibank-Plus
- Trading Instruments: Forex, Metals, Shares, indices, Commodities, Cryptocurrencies
These brokers operate under BaFin regulation. According to BaFin rules, they offer leverage up to 30:1 and provide negative balance protection for retail traders. To learn more about BaFin-regulated forex brokers, you can read our content on the best BaFin-regulated forex brokers.
How Can I Verify If My Broker is Bafin Regulated?
To verify if your broker, such as Eightcap, is regulated by the BaFin, follow these steps:
- Find the Broker’s Reference Number or Name: Obtain this information from the broker’s website.
- Search the BaFin Register: Visit the Bafin Financial Services Register and enter the broker’s reference number or name.
- Check the Broker’s Authorization: Ensure that the broker is authorized to provide “Rolling spot forex contract” services to retail customers in the UK.
- Match Firm Details: Verify that the details on the BaFin website, such as the broker’s website and email, match those provided by the broker. Any discrepancies might indicate an unauthorized broker, and you should avoid trading with them.
Frequently Asked Questions ( FAQs)
What is Eightcap?
EightCap was registered in Melbourne, Australia in 2009. The broker allows the trading of over 800 forex and CFDs on its platforms which include MT4, MT4, and TradingView. Traders are provided with tools like free VPS, Crypto Crusher, Capitalise.ai, FlashTrader, Trade Idea, outlook, etc..
Is Eightcap Considered Safe?
Yes, Eightcap is considered safe. The broker is regulated by multiple top-tier regulatory authorities, including CySEC, FSA-Seychelles, CBCS, FSC in BVI, FSCA, FSC in Mauritius,CMA. It offers negative balance protection and holds client funds in segregated bank accounts. Additionally, Eightcap provides an investor protection scheme for clients regulated under CySEC, making it a reliable and trustworthy broker.
Does Eightcap Offer Negative Balance Protection?
Yes, Eightcap offers negative balance protection. All BaFin-regulated brokers must offer negative balance protection. Negative balance protection means that traders are protected from losing more money than they have in their trading accounts. If a trade results in losses that exceed the amount of funds in the account, negative balance protection ensures that the trader’s balance cannot go below zero. This prevents the trader from owing the broker any additional money.
Is Eightcap regulated in Australia?
No, Eightcap is not regulated in Australia. The broker is not regulated by ASIC, the Australian regulator. However, it accepts Australian clients under its global entity. Eightcap is regulated by several other authorities, including CySEC, FSA-Seychelles, CBCS, FSC in BVI, FSCA, FSC in Mauritius,CMA.
