Overview of Q8 Trade 2021
Q8 Trade is a broker working with clients from Middle Eastern countries such as Israel, Saudi Arabia, Qatar, UAE, Bahrain, Kuwait, now the company plans to expand its presence in North Africa. It was founded in 2017 and is registered with the Seychelles, where it is regulated by the FSA. The brand owner is Market Financials Limited.
Q8 Web Trader is a browser-based platform of its own design, allows you to use all the tools of the market without installing any programs and applications. You can log in to your trading account from any computer. All this without any fee for use.
- Timeframes and many indicators
- News and technical analysis
- Convenient client support
- Options to minimize risks
- Six different charts
- Streaming quotes
MT5 is for experienced traders, the link to download is also available on this company’s website.
It has an extended set of timeframes that allows you to determine the mood of the market more accurately. There are 80 technical indicators for chart analysis. The platform displays the entire history of money transactions and closed deals.
The currency pairs are presented by 45, it is connected with orientation of the broker exactly on the market Forex, commodities and raw materials in number of 16 assets, the share market is wide enough – 150 companies, and cryptocurrency is presented only by one position – Bitcoin.
Commission is not charged by the broker, but spreads include a margin and at first glance seems wide in comparison to other companies. For example, the reference pair Euro / dollar has a spread of 1.5 points, oil -3 points, by indices spreads reach 4.5.
Swaps are present only for non-Islamic accounts, if the account is inactive for more than three months, the trader will be charged $30 per month.
Before you open a trade, please note that the company’s leverage is quite high and can increase risk:
Commodities & Indices 1:100
Q8 Trade offers its mobile trading platform, clients find it slow, it lacks multilinguality (only English and Russian are present). You can download it from the mobile app store. The functionality allows you to build charts using indicators directly from your phone.
The second option is to install the fast and modern application MT5, without bugs and crashes. The application features are the same as in the desktop version of the same developer, but there are less indicators.
Q8 Trade uses only standard methods of depositing your account, such as payment by credit card (Visa, MC, AMEX) and transfer by bank details. There is no commission for the deposit on the broker’s side, but the fee is possible on the side of the banking institution where the client’s account is opened. The amount of the minimum one-time deposit via card is $250, and the amount of the current account is $1,000.
As for the withdrawal, it is done in the same way as the deposit, but here already takes a commission of $ 30, the owners of premium accounts do not pay this fee. For withdrawal to the card minimum – 25 dollars, for withdrawal to the bank account – 100 US dollars. The withdrawal request is processed within 10 business days, after that it will take some time for the funds to be credited to the client.
Before you start trading with your own funds, we strongly recommend you to test your skills on the virtual or demo account. Each client can get virtual 50,000 dollars – it will help you test your strategy, learn how to manage risk, get familiar with the trading environment and evaluate the functionality of the platform.
Q 8 Trading bonuses
Due to registration in a low-regulation area, Q8 Trade may provide bonuses and incentives, for example for the accounts of premium segment (except for Bronze) – a deposit bonus of 10 to 25 percent of the initial deposit. At the second deposit the bonus of a smaller level is also available – 5 to 20 per cent.
The company created the section – Hawks Trading Academy, here is a library of educational resources, such as electronic books, training courses, useful text materials. This will help you to quickly get accustomed to the exchange environment and improve your professional skills.
Other useful resources: market scanner, which allows you to study currency pairs in great detail, economic events calendar with dates which influence market movements, beginners will be pleased to know that they can receive trading signals from Trading Central and for traders who can’t devote much time to trading there is a system of copied transactions in automatic mode – Duplitrade.
Q8 account options:
- Bronze – starting deposit $250, spreads are constant from 1.8, minimum deal size – 0.01, Hawk Academy basic course
- Silver – start deposit of $1,500, spreads from 1.8, the minimum deal size – 0.01, the Hawk Academy basic course, the personal manager, 10% bonus for the first deposit into the trading account.
- Gold – is for advanced traders with the minimum account of USD 10000, spreads from 1 pip, it is a good economy when making a great number of deals, the minimum deal volume is 0.01, the basic course of the Online Academy, a personal manager, 15 percent extra for the first deposit as a bonus, free position opening signals are provided
- Platinum – for advanced traders with minimum account $50,000, regular spreads from 0.7 pips, 0.01 minimum order, personal manager, full Hawks Trading Academy course, 20% deposit bonus, no withdrawal fees, trading signals
- Diamond is the most exclusive account with a start up of $250,000 and a 25 percent bonus, which is quite profitable. Spreads are among the lowest in the industry – from 0.4 pips, advanced trader course at the Academy, personal world market specialist, signals to help open trades in the right direction, no withdrawal fees.
Help is available Sunday through Friday until 00:00 GMT + 2 by phone, email or live chat. The live chat logo can be located in the lower right corner of the website and responses are usually received within 20 minutes. Support email: email@example.com.
To contact the team by phone:
- United Arab Emirates: + 971-45869122
- Kuwait: +96522279506 +96522279507
- Cyprus: + 357-25654189
- Bahrain: + 973-65009636
There is also a complaint form in the support section of the website.
Q8 Trade is not a completely secure trader, due to its lack of transparency, it is not quite clear at what level the payments and customer information are protected. On the other hand, if you use MT5 to work, the built-in security is, as always, at the highest level thanks largely to SSL – information encryption.
Reviews for other brokers: