Brief Look at Q8 Trade
Q8 Trade, established in 2017, initially presented itself as a reputable Forex and CFD broker, offering a diverse range of trading instruments and platforms, including the popular MT5 and mobile applications. However, it wasn't long before clients began reporting issues with withdrawals and hidden fees, leading to widespread dissatisfaction.
Although regulated by the FSA (Seychelles) and the Capital Markets Authority (Kuwait), Q8 Trade faced serious allegations of fraud and aggressive marketing practices. Clients reported instances of their accounts being abruptly blocked and demands for additional deposits before they could withdraw their funds. This resulted in many traders suffering substantial financial losses.
By 2020, the increasingly large number of complaints against Q8 Trade led to the company’s closure, leaving numerous clients without access to their funds, and causing a wave of negative reviews and warnings on specialized websites. Today, Q8 Trade is considered an example of a fraudulent broker, prompting many experts to caution against engaging with similar firms.
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