Binary options are prohibited in the European Economic Area. 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Q8 Trade Broker Review

Q8 Trade

Q8 Trade is a brand operated by Q8 Securities and it is one of the few companies in online trading that has a Kuwait Capital Markets Authority (CMA) licence. This means that this broker is mostly catering to eastern markets which is also visible in their commitment to offering Islamic accounts. As a traditional brokerage brand, operated by a company that had more than a decade of experience on financial markets, Q8 Trade has the capacity to serve even the most demanding clients. They launched the retail trading brand in 2017 to bring this expertise to the online trading market, where they offer CFDs based on currency pairs, stocks, commodities and indices.

Account Features

Signing up with Q8 Trade to start trading CFDs and Forex is easy as with any other broker. Q8 Trade has prepared several interesting account types they call VIP accounts, for customers who want to gain even more from their trading experience with them. As the regulator requests, clients must complete a short form before creating the account in order to show they do have some experience with trading.

Q8Trade Demo Account

The demo account is accessible to all clients and they can use it to practice on a real platform in real time. Clients get 100000 in virtual money they can use to place trades with Q8 Trade platform. While this is very similar to the real thing, some minor differences might occur since the demo account may offer assets that are not available on live account, or due to the fact that demo account does not depend on real-time liquidity and slippage, but to technically test-drive the trading platform, it will be more than enough.

Q8 Trade Islamic Account

Q8 Trade Accounts are fully compliant with Sharia Law, so the Islamic account does not really have any commissions, interest costs and payments. There are also no rollover charges or credits on overnight position.

Q8Trade Bronze

  • Beginner account
  • From $250 deposit
  • Trading tools and ebooks
  • Spread on EURUSD from 3 pips

Q8Trade Silver

  • Starts with $1000 deposit
  • Trading tools, market reviews, ebooks
  • 5% welcome bonus
  • 5% upgrade bonus
  • Account manager
  • Spread on EURUSD from 3 pips

Q8Trade Gold

  • From $10000 deposit
  • 10% welcome bonus
  • 10% upgrade bonus
  • Access to tools, videos, market reviews and more
  • iPhone 7 (see bonus policy below)
  • spreads on EURUSD from 2 pips

Q8Trade Platinum

  • from $50000
  • 20% welcome bonus
  • 20% upgrade bonus
  • Access to tools, videos, market reviews and more
  • Macbook (see bonus policy)
  • SMS alerts
  • Spreads from 1.5 pips for EURUSD
  • Hedging enabled

You may have noticed Q8 Trade has a bonus, which is a type of promotion that is not often used by European counterparts due to regulation. With Q8 Trade the typical abuses with bonuses are a no-go. The policy is laid out transparently and the bonus does not give right to the broker to block payments as was case in binary options some years ago. In order to fulfil bonus conditions, like in the case of iPhone 7 or MacBook, a trading volume of 25 million is required. Welcome bonus is for the people depositing first time, while the upgrade bonus is offered to those who upgrade their account type. In any case, even with all the protections, we urge customers to read the bonus policy terms before accepting a bonus in order to ensure they have all the info.

Trading Software & Assets

Q8 Trade uses the industry standard Metatrader4 (MT4) platform as the basis for trading for their clients. The platform is well tested and meanwhile well known in the CFDs and Forex trading community. Along with the downloadable desktop client software, a WebTrader is also available as expected from any modern online brokerage. Traders mostly like to rely on their web browsers to take them directly to the platform.

Q8Trade Mobile Apps

For those who like to be always in the middle of the game, no matter where they are, Q* Trade mobile apps are ready to enable global trading that requires no home, chari and the desk. Modern trading nomads can download the apps for their smartphones from the respective app stores. Please don’t forget that mobile trading depends on good connection so Q8 Trade cannot be expected to be responsible for trading failures that arise from bad reception and similar problems.

On the underlying asset side, there are more than 200 assets available to be the basis of the CFDs. 4 main groups are stocks, indices, commodities and forex (currencies).

Support Information

Contacting Q8 Trade can be done via email support[at] or via designated phone numbers listed on their websites. There are two Support teams:

  • Kuwait  +965-22063088
  • Cyprus  +357 25327570

The company can be visited at both locations, the addresses are listed on the website.

There is no live chat function, however since Q8 Trade has almost all conceivable social media accounts, in case you try to contact them there, some will “pick up”.

Banking & Company Information

As we already mentioned, Q8 Trade is licenced by the Kuwait Capital Market authority. You can find the licence with regulation number AP/2013/0012 on their website, or a translated version on Q8Trade own website. The licence allows the broker to offer CFD trading on all mentioned underlying assets types.

Q8 Trade Minimum Deposit

Minimum deposit with Q8 Trade is $250, however, if you are going to use bank wire, the minimum amount to be deposited is $500. Traders can use KNET, credit cards, net wallets and bank wire to deposit with Q8 Trade. Currencies one can deposit in are USD, EUR, GBP and KWD.

Q* Trade Withdrawal

Before withdrawing, the account must be verified. This is meanwhile standard procedure that requires clients to send their ID, residency and payment method documents for verification to the broker. It is the so-called KYC – know your customer policy required by the various regulators and laws.

Please mind that the money deposited via KNET cannot be returned with same method, but bak wire will be used. This affects you because bank wire has significantly higher minimum withdrawal of $25, than the other types of payment, that only have $25.