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Q8 Trade

Kuwait|5-10 years|
Suspicious Regulatory License|MT4/5 full license|Regional Brokers|High potential risk|

https://www.q8trade.com/en/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

Q8trade-Demo

Ireland
MT5
2

Influence

C

Influence index NO.1

Turkey 3.84

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
Q8trade-Demo MT5
Server Location Ireland

Influence

Influence

C

Influence index NO.1

Turkey 3.84

Surpassed 72.37% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+96522279506
support@q8trade.com
https://www.q8trade.com/en/
https://www.facebook.com/q8trade

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+96522279506

Broker Information

More

Company Name

MARKETFINANCIALS Ltd.

Company Abbreviation

Q8 Trade

Platform registered country and region

Kuwait

Company website
Twitter
Facebook

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away!
Previous Detection : 2024-02-25
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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Q8 Trade · Company Summary

BASIC INFORMATION:

Q8 Trade is a forex broker based in the Middle East with offices in Limassol and Kuwait City. The broker offers two platforms, including MT4, plus a mobile app and several powerful trading aides. Q8 Trade is the brand name of Market Financials Limited, which is licensed and regulated by the Financial Services Authority (FSA) of Seychelles. Since 2017, the broker has provided multiple instruments, Islamic accounts and cross-platform trading.

Q8 Trade has offices in Kuwait, the UAE, Cyprus, and Bahrain. And with many of its clients from Dubai, Qatar, Saudi Arabia, Amman, and Israel, the broker aims to expand its presence in the Middle East and North Africa.

REGULATORY INFROMATION: LICENSE

No valid regulatory information

Please be aware of the risk!

MARKETS

Q8 Trade offers 45 currency pairs, 1 Bitcoin pair, 16 commodities (agricultural, precious metals, and energies), over 150 global stocks, and more than 25 indices.

SREADS & COMMISSIONS

Q8 Trade does not charge commissions; however, spreads include a mark-up so appear higher than competitors. Spreads on major pairs such as EUR/USD are around 1.5 pips. Crude oil is around 3 pips and the FTSE 100 around 4.5 points.

OTHER TRADING FEES

The broker does charge swap fees (not applicable to Islamic account holders) as well as a $30 inactivity fee on accounts left dormant for over 90 days.

LEVERAGE

The maximum leverage offered at Q8 Trade is 1:400 for forex. Indices and commodities can be leveraged up to 1:100 and stocks up to 1:10.

ACCOUNT TYPES

Q8 Trade offers 5 account types:

· Bronze – $250 minimum deposit, 1.8 pips standard spreads, 0.01 lots minimum order, Hawks Academy basic courses

· Silver – $1,500 minimum deposit, 1.8 pips standard spreads, 0.01 lots minimum order, Hawks Academy basic courses, account manager, 10% welcome bonus

· Gold – $10,000 minimum deposit, 1 pip standard spreads, 0.01 lots minimum order, Hawks Academy basic courses, account manager, 15% welcome bonus, trading signals

· Platinum – $50,000 minimum deposit, 0.7 pips standard spreads, 0.01 lots minimum order, Hawks Trading Academy basic and advanced courses, account manager, 20% welcome bonus, trading signals, exemption from withdrawal fees

· Diamond – $250k+ deposit, 0.4 pips standard spreads, 0.01 lots minimum order, Hawks Trading Academy basic and advanced courses, account manager, 25% welcome bonus, trading signals, exemption from withdrawal fees

PAYMENT METHODS

Deposits

Q8 Trade offers deposits via bank wire transfer and cards (Visa, Mastercard, or American Express) only. There are no fees for deposits but traders should check for any fees charged by their bank or card providers. The minimum deposit for cards is $250 and for bank wire its $1,000.

Withdrawals

Withdrawals must be made via the same method that the original deposit was made. Unfortunately, there is a $30 fee with withdrawals, which is fairly high. Platinum and Diamond account holders are exempt from this fee. The minimum withdrawal for cards is $25 and for bank wire its $100.

Processing times vary between 5 – 10 working days, plus the time it takes for funds to appear in your account, which depends on your bank.

TRADING PLATFORMS

· Meta Trader 5

· Q8 Web Trader

TRADING HOURS

Most forex pairs can be traded between Monday 00:00 and Friday 23:59 KSA. Precious metals are also open Monday to Friday from 01:00 to 24:00 KSA.

CUSTOMER SUPPORT

Help is available Sunday to Friday until 00:00 GMT+2 via telephone, email, or live chat. The live chat logo can be located in the bottom right-hand corner of the website and replies are usually received within 20 minutes. The support email address is support@q8trade.com.

To contact the team via phone:

· United Arab Emirates: +971-45869122

· Kuwait: +96522279506 +96522279507

· Cyprus: +357-25654189

· Bahrain: +973-65009636

ACCEPTED COUNTRIES

Q8 Trade accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.Traders cannot use Q8 Trade from United States, Canada.

User Reviews

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5

Comments

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FX1464353120
more than one year
The only downside for me is their limited payment methods. I hope they can broaden their options soon, because it can be a bit of a hassle when I want to deposit or withdraw funds.
2023-04-06 10:43
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0
0
FX1464353120
more than one year
They offer some really competitive spreads, which is always a plus for us traders on the lookout for some sweet deals. They've also got Islamic trading accounts available, which is a big plus for me as someone who likes to keep things halal. Another thing I appreciate about Q8 Trade is their localized customer support. It's always nice to be able to talk to someone who understands your language and culture, ya know? Plus, the support team is pretty helpful & responsive, which is a good sign.
2023-04-06 10:42
Reply
0
0
黄子源
more than one year
Third-class service support team is only for making money for salary they don’t want to help me. I am happy to see that this broker has been shut down.
2023-03-01 10:07
Reply
0
0
合肥壹玖免费模式
more than one year
This is another offshore unregulated broker. I looked up the company with different regulators but nothing comes up which simply means Q8 Trade is a scam.
2022-12-14 15:16
Reply
0
0
FX1122467909
more than one year
No one would tell me why they locked me out of my account. Still have balance money in it . A few days ago, I emailed customer service to ask if they might help me out. The Q8 has taken no action.
2022-12-10 22:39
Reply
0
0
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