Q8Trade

 

Q8Trade Overview
Founded2017
PlatformWeb Trader, MetaTrader, Mobile Trader
Minimum account size250
Minimum lot size0.01
Tradable assets300+
Maximum margin1:400
Spread on EUR/USD0.00015 pips
Payment methodsKNET, MasterCard/Visa, American Express, Wire Transfer
Demo accountUnlimited time
Accepts US tradersNo
RegulatedMinistry of Commerce and Industry (Kuwait)
SupportPhone, Email, Live Chat
Websitewww.q8trade.com

Platforms

You would be able to access the markets in various ways via Q8Trade’s multiple platform options. This is definitely an advantage since you will be given with more opportunities to trade.

Currently, the following platforms are available for trading:

  • WebTrader – This web-based system allows you to access your account and trade from any browser and operating system.
  • MetaTrader — You can trade using the industry’s leading trading system and you have the choice of using the classic MetaTrader 4 (MT4) or the latest MetaTrader 5(MT5).
  • Mobile Trader – If you prefer to trade on your smartphone or tablet then you can install their mobile apps for Android and iOS (iPhone/iPad).

Any of these systems offer benefits to traders of all experience levels but if you consider yourself in the advanced category and would like to use advanced functionality such as indicators and plugins then the MetaTrader is the way to go.

And speaking of plugins, Q8Trade is among the very few brands that we know of that offers the Trading Central plugin which is compatible with MetaTrader 4 and 5 applications.

You will only be able to use this feature if you have a minimum deposit of $5, 000 in your accounts. The integrated risk management tools are highly recommended so you can protect the profits and limit your losses.

Customization is also possible so that you can view the information you’re primarily looking for including specific charts and historical data, and tailor the program to meet your own trading needs.

It all boils down to this:

All of their programs possess a suite of unique features and tools that can help enhance your trades.

Design

Similar to most brokerages that offer the downloadable MetaTrader systems, Q8Trade decided to keep the very basic user interface.

his is pretty much the standard and uncomplicated MetaTrader layout and although it is very basic, the silver lining is that you will be able to focus on your deals.

By contrast:

Their WebTrader and mobile websites have a fresh modern look and the uniform colors on the easy-to-use trading interface are definitely a welcome sight.

It’s a perfect balance form and function for a better trading experience.

Tradable Assets

One of the advantages of trading CFDs is usually you will be able to invest on a diverse selection of markets.

The number of markets that you can access however would depend around the broker that you’re signed-up with.

Q8Trade won’t disappoint you because their tools have over 300 instruments which are divided into the following classes:

Currencies

There are more than 40 choices and this includes major currency pairs, crosses and exotic pairs ( not accessible intended for Islamic accounts).

Commodities

They have a varied selection for this asset class which usually includes soft commodities like cocoa, coffee, corn, orange, soybean and wheat. Precious metals including gold, silver, palladium and platinum are also available and the commonly traded instruments in the energy marketplaces such as for example Brent oil, crude oil, natural gas and RBOB Gasoline.

Indices

As of this writing, there are 30+ indices including global indices like the NIKKEI and NASDAQ. But what makes Q8Trade better than other brokers out there is that they also included the most popular directories in the Middle East including Saudi Arabia’s TADAWUL and Israel’s TA35.

Shares

There are more than 140 stock options with the most popular companies just like Apple, Coke and Facebook. What’s even more interesting is usually that they also have newly- listed brands like Uber, Beyond Meat, Lyft, Snapchat, Line and Spotify.

Cryptocurrencies

This new asset class includes highly popular digital coins like Bitcoin, Ethereum, Ripple, Litecoin, Dashcoin and Stellar Lumens. This category nevertheless is definitely not accessible to get Islamic account holders.

Minimum Lot Size

The size of your lot will directly influence the risk management and the smaller the great deal, the better you can control your risk.

Most retail brokerages allow their clients to trade with micro lots which means a Buy or Sell order will be placed pertaining to 1, 500 units.

Micro lots are the smallest tradable lot size that are usually allowed by most brokers. Fortunately, Q8Trade follows this kind of trend as it allows opening positions with the very least great deal size of 0. 01.

Spreads

As with majority of brokerages, Q8Trade makes money from the spreads and commissions.

With tight spreads, you will be able to minimize the losses on price differences and reduce the trading costs so as a trader, you need to find a broker with the best lowest spreads.

In comparison with additional agents in the industry today, the propagates offered by Q8Trade are quite competitive not just upon the most famous assets but above a wide range of marketplaces. For example, the EUR/USD has a spread of 0. 00015 pips in real market conditions

Quotes Accuracy

In this industry, anything slow is not really good particularly in displaying the prices of the assets that you are trading.

If there’s latency or time lag with all the program you are using, then this a disadvantage for you especially when markets are moving incredibly fast.

You need to choose a stable and lag-free system that can react faster to the actions of the market. Based on the extensive tests that we’ve done, Q8Trade’s quotes were accurate and in real time. Their particular devices have ultra-low dormancy and in most cases, execution speeds were really fast.

Withdrawal Time

Comparable to how uncomplicated the process it meant for depositing cash into your online trading accounts, you’ll also have the ability to withdrawing the funds with ease and as long as you follow their instructions and requirements.

How to withdraw your funds coming from Q8Trade?

  • Log-in to your Q8Trade account.
  • Click on Deposit and you will be taken to the Transaction Portal.
  • Click on Withdrawal
  • Enter the amount that you wish to withdraw.
  • Select one of the following reasons:
    • I am withdrawing profits
    • We are transferring funds to another broker
    • Unsatisfied with the service
    • I have limited funds
    • I do not have enough trading encounter
    • Other reason
  • Click on the Deposit Now button to continue.

Once you complete these steps, the processing time may take a maximum of 3 business days and if we compare that with other agents, they are very faster since it takes a whole lot longer for their competitors to handle the withdrawal request of their clients.

Each withdrawal will incur you with $20 on your own first 2 requests designed for the month for MasterCard/Visa, American Express and Wire Transfer.

You’ll be exempted from these withdrawal fees if you’re a Platinum bank account holder.

Depending on the policies of your bank regarding inbound transfers, you may get fees so be sure to clarify this with your service provider.

Customer Support

The quality of customer service that a broker provides is one of the many essential factors that you need to determine prior to signing-up with them.

As a client, you have to ensure that any of your concerns and issues are addressed quickly simply by a knowledgeable member of their support department.

 

There are 3 ways for you to contact Q8Trade’s customer support team: phone, email and live chat.

As for availability, do take note that you will only be able to get an agent by 6: 30 is to 7: 00 pm (GMT+3), Sundays to Fridays. They do not provide support on Saturdays.
Should you decide to contact all of them via phone, you have the option to dial their local numbers in Kuwait, United Arab Emirates, Cyprus and Bahrain.

 

PROS

  • Trading platforms for web, mobile and desktop
  • Over 300 instruments available including cryptocurrencies
  • Islamic account
  • Extensive trading tools and education
  • Superb customer service in Arabic and English

CONS

  • US traders are not accepted

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