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Q8Trade.

Real Account.

Demo Account.

Advantages.

Wide Range of Assets Free Trading Technology.

Disadvantages.

Average Minimum Spreads High Minimum Deposits.

Advantages.

Wide Range of Assets Free Trading Technology.

Disadvantages.

Average Minimum Spreads High Minimum Deposits.

Q8Trade Review.

Q8 Trade, launched in 2017, is a market maker Forex and CFD broker, headquartered in Kuwait, and regulated in Kuwait under the Capital Markets Authority. There are few notable Forex brokers truly domiciled in Middle Eastern financial centers such as Kuwait, which is one thing that really makes this broker stand out from the crowd. The parent company, Q8 Securities, was established in 1985 as Al-Arabi and rebranded in 2017. This successful brokerage firm facilitated investments in equities and derivatives both inside Kuwait and in international markets. They provide a trading platform that offers traders a very wide range of assets for trading across Forex currency pairs, commodities, indices, and individual stocks wrapped as CFDs across both major and minor financial markets.

There are four different account types to choose from with Q8 Trade. The Bronze account can be opened with a deposit of as little as $250, and it offers a minimum Forex spread of 3 pips. The Silver account can be opened with a deposit of as little as $1,000, and it offers a minimum Forex spread of 3 pips, but also includes a 5% welcome or upgrade bonus and a personalized account manager. The Gold account requires a minimum deposit of $10,000, and offers a minimum Forex spread of 2 pips, but also includes a 10% welcome or upgrade bonus and free trading alerts. The Platinum account requires a minimum deposit of $50,000, and offers a minimum Forex spread of 1.5 pips, but also includes a 20% welcome or upgrade bonus and a free direct line to the trading room. All accounts come with several free perks: Q8 Trade’s proprietary “power to grow” trading tools, unlimited access to the company’s eBook library, and a daily market review at the start of every trading day. A total of 49 Forex currency pairs may be traded, as well as several spot commodities including gold and silver. As many as 38 leading individual global shares and several major share indices can also be traded, as can a selection of major futures contracts. Commodities offered are not restricted to precious metals, with softs such as sugar and cotton also listed.

A demo account is available, as is typical with nearly all spot Forex brokers.

Islamic accounts are also offered.

Probably the most notable feature of this broker, in addition to the unusually wide range of assets offered for trading, is its free proprietary “power to grow” technology which is provided to all traders as a tool.

Q8 Trade also offers educational content about trading in general and about Forex trading which can be useful to clients, particularly for beginners or less experienced traders concerned about their ability to navigate the market successfully.

Q8 Trade’s educational offering is centered on an education section contained within its website. The section includes 5 trading guides and a Forex glossary. Advanced trading strategies may be provided by account managers or personalized trading advisory teams.

Bonuses and Promotions.

A bonus equal to 5% of the deposit is awarded to clients depositing sufficient funds to open a Silver account, 10% to clients opening a Gold account, and 20% to clients opening a Platinum account. Equivalent upgrade bonuses are offered to holders of lower-level accounts when they deposit sufficient funds to secure an upgrade to a high-level account.

Deposits/Withdrawals.

Depositing funds into a Q8 Trade account is an easy and secure process. Deposits may be made in four currency denominations: USD, EUR, GBP, and Kuwaiti Dinars. Funding can be made using a range of methods, including KNET, credit cards, bank wire transfer, and a wide range of E-Wallets. Withdrawals can be made through the same methods, except withdrawals cannot be performed by KNET and so are instead processed by wire transfer.

The minimum deposit is $250 by KNET and credit card, and $500 by wire transfer. The minimum withdrawal is $250 by wire transfer and $25 by credit card. Withdrawals should be processed within 3 to 5 working days.

Customer Support.

Customer support is based in Kuwait. Clients can contact a Q8 Trade representative by telephone during business hours and can use anytime of the day.

Conclusion.

Q8 Trade seems to have a very well-rounded offering for traders looking to trade a mixture of major and minor Forex currency pairs, as well as the most popular global individual shares, commodities, indices and futures. Retail and higher net worth traders based in the middle east are likely to find this broker especially attractive.

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Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of DailyForex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly.

Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of DailyForex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly.

Q8Trade.

Real Account.

Demo Account.

Advantages.

Wide Range of Assets Free Trading Technology.

Disadvantages.

Average Minimum Spreads High Minimum Deposits.

Advantages.

Wide Range of Assets Free Trading Technology.

Disadvantages.

Average Minimum Spreads High Minimum Deposits.

Q8Trade Platforms.

MetaTrader4.

The MetaTrader 4 is an independent trading platform, developed for trading FX, commodities and other products and is one of the most advanced and easy platforms to use. It remains the gold standard of trading platforms.

In addition to the wide range of markets available to trade, the MT4 platform provides traders with a multilingual interface, instant execution, built in help guides for MT4 and MetaQuotes Language 4, a complete technical analysis package including a wide range of in-built indicators and charting tools, various custom indicators and time periods and more.

Automated trading is also offered through the MetaTrader 4 platform where traders can create and test their automated trading strategies by using the MetaEditor, Strategy Tester and Compiler tools within the MT4 platform.

With this automated trading system traders can create Expert Advisors, software programs enabling traders to constantly monitor the markets. Custom Indicators help traders to predict future price movements by analyzing past and current price information. And the Scripts feature gives traders the opportunity to set up an automatic repetition of specific operations such as closing all positions with a single keystroke.

Web Trader.

The Web Trader platform offers access to a sophisticated, fully customizable trading suite, without the need to install any software on your PC. Web Trader guarantees secure access to your account by making use of state of art Web technologies. It is simply the online version of the tried and tested, eternally popular Metatrader 4 trading platform.

Real Account.

Demo Account.

Most Visited Forex Broker Reviews.

Stay Updated!

Also Available on.

Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of DailyForex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly.

Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of DailyForex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly.

Q8 Trade Review - Is it scam or safe?

RATING: 2 / 1 REVIEWS.

Trading Accounts.

Q8 Trade is a forex and CFD broker from Kuwait (as the name implies in a way). The company appears to be focused mostly focused on the local market. Islamic (swap-free) accounts are available, for this purpose.

The Company. Security of Funds.

Q8 Trade is owned by Q8 Securities. They are regulated by Kuwait’s Capital Markets Authority (CMA). This is a rather exotic jurisdiction, which we do not know much about. It should definitely be more strict than that in off-shore zones, but maybe slightly looser than the one provided by reputable watchdogs, like the United Kingdom’s FCA, for instance.

The Financial Conduct Authority (FCA) monitors the activities of brokers who are registered with it very strictly. Furthermore, it applies rules, which these companies must follow. There are many of them, like the ones guaranteeing the best possible execution, but two stand out the most, when it comes to the security of your funds.

First of all, client funds must be kept in segregated accounts. This means, the broker can not freely access your trading funds and spend it for marketing campaigns, paying salaries or “corporate bonuses”. The second key rule is the mandatory participation in the Financial Services Compensation Scheme (FSCS). This is a mechanism, which collects small payments from participating companies and keeps them in a collective pool. If one of these brokerages were to go bankrupt the mechanism will be used to pay back traders who have funds with it. In essence, this is similar to an insurance company. If you trade with an FCA-regulated broker, your account will be covered up to £50,000.

As we noted in the beginning Q8 Trade appears to be focused on local clients. Other than that the company’s website appears to be missing some information, like a clear specification of trading conditions. Opening a demo account also doesn’t happen with a single click – you have to go through the process of creating a real account. These are slight oversights, which still leave a negative impression.

Trading Conditions.

Minimum Initial Deposit.

Q8 Trade does not mention a minimum deposit requirement on their website, which is not the usual practice. Most brokers state it clearly, while some even have account types, based on your initial deposit. Some have even removed the entry barrier, in pursuit of new clients. For instance the FCA-regulated industry pioneers at IG do not have a minimum – you can open an account for as low as you want.

Average spreads & Commissions.

Spreads at Q8 Trade are fixed and start from 3 pips. This is not competitive, when compared with current offerings by other fixed spread brokers. As an example, HYCM offers a 1.8 pips spread on EUR/USD.

The maximum leverage at Q8 Trade is 1:100. This is a sufficient level for most traders, although some brokers offer much higher levels nowadays. For instance, XM allows clients to trade with 1:888.

Keep in mind, higher leverage does not equate better trading conditions. It only allows traders to take bigger risks. There is a huge difference between the two.

Trading Platforms.

Q8 Trade provides its services via MetaTrader4(MT4), a Web-based platform. If you have any sort of interest in the forex trading you probably know about MT4 already. It is the most popular currency trading platform in the world and there is a reason for that. In fact the reasons are probably several – form the outstanding charting package, to the automated trading system environment, MetaTrader is the current industry staple. Here is a screenshot of the MT4 provided by Q8 trade:

The web based platform is not as sophisticated. While it may appear to be more visually appealing than MT4, especially to people who are not that experienced in trading, it lacks a lot of the functionality. No technical indicators are available, let alone more complicated tools or automated systems. That being said beginners will probably enjoy learning on it. Here is what it looks like:

Methods of Payment.

Q8 Trade offers a few payment methods. They are Bank Transfer, Credit/Debit Card and Knet – a local bank payment system. International clients can not use popular wallets, such as Skrill or Neteller.

Conclusion.

Q8 trade is a Kuwait-based forex and CFD broker. The company is regulated by the local Capital Markets Authority. That being said trading conditions are not competitive with the contemporary development of the industry. There are a couple of issues with the company’s website. In summary, here are Q8 Trade’s pros and cons:

FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts.

easyMarkets is a CySEC and ASIC regulated broker offering access to over 300 trading instruments, tight fixed spreads, no slippage and a 50% deposit bonus.

HY Markets is global forex broker with more than 30 years of operational experience, regulated by FCA in the UK. Trade Forex with spreads as low as 1.8 pip.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an ongoing monthly $999 forex contest, offers a $5 no-deposit bonus for anyone willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits.

Slippage.

Price feed.

Deposit/Withdraw.

Customer service.

Traders` reviews for Q8 Trade.

Hello I already opened an account eQ8 trade but the broker doesn’t appear on MT4 platform. I thank you.

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