In February 2024, reports circulated that Eightcap had stopped providing brokerage services to prop-trading firms. The claim was too broad.
On February 16, Eightcap CEO Alex Howard said the company was reviewing its commercial and operational partnerships, but described its overall position as “business as usual.” The statement rejected the idea that Eightcap had withdrawn from the prop-trading industry altogether. It did not, however, say that every prop-firm relationship remained in place.
What Eightcap actually said
The most accurate summary is that Eightcap ended, or was in the process of reviewing, some commercial relationships with prop firms while denying that it had terminated service to all of them.
That distinction matters because the original reports came largely from affected prop firms and social-media posts. Some firms said their Eightcap brokerage services would end on or around February 29, 2024, leaving a short migration period. Finance Magnates reported those claims, while noting that Eightcap had not independently confirmed the February 29 date at the time.
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Eightcap’s public response was narrower. Howard said the company regularly reviews its partnerships and that ending individual commercial arrangements is an ordinary business decision. He also said Eightcap remained positive about the CFD, forex and prop-trading industries.
| Claim | What the available record supports |
|---|---|
| Eightcap terminated service to all prop firms | Not supported. Eightcap rejected this broad interpretation. |
| Eightcap terminated or reviewed some prop-firm relationships | Supported by reports from affected firms and contemporary coverage. |
| Eightcap completely left prop trading | Incorrect, particularly after the launch of Eightcap Challenges in November 2025. |
| All prop firms using Eightcap had the same deadline | Not established by Eightcap’s public clarification. |
Why the story became confused
The reports appeared during broader disruption involving MetaQuotes, the provider of MetaTrader 4 and MetaTrader 5. Contemporary coverage linked the disruption to increased scrutiny of prop firms, especially businesses serving U.S. customers through the MetaTrader ecosystem.
There were also two different business relationships being discussed:
- Eightcap as a broker or infrastructure provider: Eightcap could provide trading infrastructure or brokerage services to an independent prop firm.
- Eightcap’s own challenge product: Eightcap could market a simulated trading challenge directly to customers.
Those models are not interchangeable. A brokerage relationship with a third-party prop firm can end without the broker abandoning the prop-trading market. Conversely, launching a proprietary challenge product does not prove that every former third-party relationship was retained.
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What changed after the February 2024 clarification?
Eightcap later moved into direct-to-customer prop-style products. Its website now promotes Eightcap Challenges, which it describes as a simulated-trading challenge. An Eightcap-hosted announcement says the product launched in November 2025 and is operated directly by Eightcap rather than being merely a white-label product for unrelated prop firms.
That makes the statement “Eightcap no longer has anything to do with prop trading” outdated. The company’s current model is different from the arrangement described in the 2024 reports, but Eightcap is again publicly offering a prop-style product.
How Eightcap Challenges works
The current challenge page lists One Phase and Two Phase programs, with account sizes from $5,000 to $200,000. Listed entry fees start at $69 for the standard challenge products, and the page advertises profit retention of up to 90% and no time limit for the standard challenges.
Those headline figures need context:
- The standard profit share is 80%. The FAQ says an add-on can increase it to 90%.
- The challenge balance is simulated. It should not be described as a conventional live brokerage account containing capital deposited by Eightcap for the trader to withdraw.
- The main challenge page lists more than 200 available instruments. A separate partner page refers to more than 800 CFD instruments, so those figures should not be treated as the same measure.
- Platforms shown across the product materials include MetaTrader 4, MetaTrader 5, TradeLocker and TradingView, although platform availability can depend on the product and customer’s location.
Eightcap’s affiliate page also refers to simulated capital of up to $600,000 through scaling. That is a scaling or marketing figure, not the same as the initial account-size range shown on the main challenge page.
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Important costs and payout conditions
Anyone considering a challenge should read the rules rather than relying on the advertised account size or profit split. The current materials identify several practical failure points.
| Condition | Why it matters |
|---|---|
| Fees are generally non-refundable | A purchase is final once processed. Eightcap may help switch a mistaken purchase or provide a coupon toward a larger account, but that is not a promise of a cash refund. |
| Rule violations can permanently close an account | The FAQ says funds in an account terminated for a rule breach are forfeited. |
| Minimum payout is $100 after the split | At an 80% split, the account would need to generate at least $125 in profit to produce a $100 participant share. |
| Smaller withdrawals may require cryptocurrency | The FAQ says withdrawals below $100 are available only through cryptocurrency. |
| Payouts undergo risk review | The rules allow Eightcap to require a telephone or video call. Failing to complete verification can delay or result in a declined payout. |
| Processing is not always immediate | Approved payouts are typically processed within 24–48 hours, although additional review can extend that period. |
The FAQ also refers to a profit cap of 5% of the initial balance for One Phase accounts and 10% for Two Phase accounts. It says Two Phase accounts created before February 11 are not subject to that cap, but does not specify the year in that sentence. A trader should therefore check the rules applying to the particular account and its creation date instead of assuming the exception applies.
What U.S. residents should know
The Eightcap Challenges FAQ states that U.S. residents cannot purchase a challenge on MT4 or MT5. That is a specific product-and-platform restriction, not proof that every Eightcap service is unavailable to every U.S. resident.
Eligibility may depend on the platform, product, customer location and contracting entity. Eightcap’s Challenges materials identify entities including Eightcap Global Limited in The Bahamas, Eightcap International Ltd in Seychelles and Eightcap International Trading in Mauritius.
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The presence of a regulated entity does not automatically mean the challenge itself is a regulated brokerage account or a live funded account. The product documentation describes simulated trading and eligibility for rewards. Customers should confirm the applicable terms before paying an access fee, particularly if they are relying on consumer protections associated with an ordinary investment account.
What the 2024 clarification means for customers
The episode is a useful reminder to separate three questions:
- Did Eightcap end every prop-firm relationship? The evidence does not support that conclusion.
- Did some firms face service termination or migration requirements? Contemporary reports indicate that some did.
- Does Eightcap still participate in prop trading? Yes. Since November 2025, it has promoted its own simulated challenge product.
For a customer, the practical risk is not just whether a broker uses the phrase “business as usual.” Commercial relationships can change, platforms can be withdrawn, and a prop firm may need to move accounts quickly. Before paying for a challenge or relying on an existing account, check the legal entity, platform, refund policy, rule version, payout requirements and jurisdictional restrictions.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.FAQ
Did Eightcap terminate services for all prop-trading firms in February 2024?
No. Eightcap said it was reviewing commercial and operational partnerships and maintained that its business remained normal. Reports indicated that some prop-firm relationships were ending, but the public record does not support a blanket termination affecting every prop firm.
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Is Eightcap still involved in prop trading?
Yes. Eightcap Challenges launched in November 2025 and is marketed as an Eightcap-operated simulated-trading challenge. This is different from providing brokerage services to independent third-party prop firms.
Does Eightcap Challenges provide live funded trading capital?
The product documentation describes simulated trading and eligibility for real-money rewards. It should not automatically be treated as a conventional live brokerage account funded with Eightcap’s capital.
Is the 90% profit split standard?
No. The FAQ identifies 80% as the standard profit share and says an add-on can increase the share to 90%.
Can U.S. residents buy Eightcap Challenges?
The FAQ specifically restricts U.S. residents from purchasing challenges on MT4 and MT5. That should not be broadened into a claim that all Eightcap services or every platform are unavailable to U.S. residents.
Are Eightcap challenge fees refundable?
The FAQ says purchases are final and challenge fees are non-refundable. Eightcap may assist with switching a mistaken purchase or provide a coupon toward a larger account, but that is not the same as a guaranteed cash refund.
The Bottom Line
Eightcap did not publicly confirm a complete withdrawal from prop-firm services in February 2024. The defensible conclusion is narrower: some commercial relationships were terminated or reviewed, while Eightcap rejected the claim that it had cut ties with every prop firm. The company later entered the market directly with Eightcap Challenges, launched in November 2025. Anyone considering the product should focus on the simulated nature of the account, non-refundable fees, rule-based forfeiture, payout verification and location-specific platform restrictions—not just the advertised account size or “up to 90%” profit share.
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