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 email 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.
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.
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 is based in Kuwait. Clients can contact a Q8 Trade representative by telephone during business hours and can use email anytime of the day.
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.
Review info: Q8Trade
Review Date: 2017-10-03
Rating : 4.5
Reviewed By : Sara Patterson (Google+)