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Q8 Trade Review

September 16, 2020 at 6:46 am

Q8 Trade Highlights

Originally a broker focused on the Middle East and North Africa (MENA region), Q8 Trade had moved away from the former mother company Q8 Securities, as it now has global ambitions. Via cutting-edge technologies, broad instrument coverage, good customer service, and plenty of trading functionalities, the company had announced that 70% of millions of trades end up with success.

The brand name of MARKETFINANCIALS LIMITED, a Seychelles Securities Dealer Licensee, Q8Trade.com is authorized and regulated by the Seychelles Financial Services Authority (FSA) under the license number SD006. At present, the brand does not allow residents in the USA and Canada to open a trading account.

Since this is a broker with high potential, our Q8 Trade Review will highlight some of the most important benefits when choosing to open a trading account.

Q8 Trade logo

Trading Software

Considering Q8 Trade wants to provide clients with the most advanced trading technologies, there are multiple platforms available on the website. The Q8 Trade WebTrader is a browser-based platform optimizing user efficiency and providing innovative trading tools. It has the usual advanced risk management tools, customer support, daily news, and technical analysis.

Secondly, clients will benefit from the world-renowned MetaTrader 5, one of the best-suited platforms for CFD traders. Built on the popularity of its predecessor, MT5 is a multi-functional platform offering the modern trader innovative analysis tools, customizable charts, and a user-friendly interface. You can use it both on desktop and mobile devices.

Lastly, Q8 Trade had developed a proprietary trading app, proving it continues to invest in trading technologies. The app integrates powerful security features to keep accounts safe and secure, customizable charts, hundreds of different tradable assets, and fast deposits/withdrawals.

Q8 Trade mobile app

Q8 Trade Assets

At Q8 Trade you are able to trade a wide range of assets, including currencies, commodities, indices, and stocks. With a maximum of 1:400 leverageand competitive commissions, the Q8 Trade forex trading offer stands out, especially since we consider there is support for tens of different currency pairs.

When it comes to stocks, aside from the companies we are all familiar with, Q8 Trade also has support for stocks from the Middle East, enabling clients to get more diversified. In this case, the maximum leverage is capped at 1:100, and standard spreads are low.

You can trade on a broad range of commodities as well, including natural gas, gold, sugar, cotton, coffee, cocoa, and oil, with up to 1:100 leverage. Lastly, Q8 Trade covers some of the top stock market indices, so traders will have more liquid alternatives to stocks.

 

Account Types

The Q8 Trade plans and benefits include Bronze, Silver, Gold, Platinum, and Diamond accounts. You can start trading with this brand by making a $250 initial deposit. This would be enough to test live trading conditions and at the same time, gain access to other trading features like video content, Hawks Trading Academy, and others.

Making an upgrade will come with a welcome and upgrade trading bonus, while also unlocking access to other trading features. Support from an account manager, eBooks, daily market analysis, and access to trading signals are ensured. Keep in mind that Q8 Trade has partnered with DupliTrade, a service that allows traders to execute trades automatically, based on multiple trading systems.

To deposit funds into a trading account, you can use a credit/debit card, wire transfer, or American express. Same with the used for withdrawals, where the standard fee is set at $30. It could take between 5-10 business until a withdrawal request is reviewed and approved. (In some cases due to client’s bank account, withdrawals might take longer).

Education

Q8 Trade now ensures access to high-quality trading resources thanks to the partnership with the Hawks Trading Academy. That’s a place where you can find webinars, ebooks, articles, and many different trading courses. Its main goal is to enable a road to become a professional trader if you are willing to learn and develop all the required skills.

 

Q8 Trade Conclusion

Backed by multiple years of experience accumulated in the MENA region, Q8 Trade has a lot of potential in achieving its international ambitions. That happens because the broker provides access to a multitude of trading functionalities, and CFD traders will love it. We are proud to award Q8 Trade a high rating and say that this is a brand you can trust.

 

iFOREX Review

September 14, 2020 at 9:30 am

 

iFOREX Highlights

Operated by Formula Investment House Ltd, iFOREX is an online trading brand offering access to 800+ tradable instruments, including currencies, commodities, indices, shares, ETFs, and cryptocurrencies. The iFOREX Group’s European subsidiary is an investment firm licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 143/11.

With more than 8 million total users, 100+ countries services, 35k+ daily transactions, and 15+ supported languages, iFOREX is one of the major global trading brands, having established a long track record in the world of CFDs.

If you want to get more information about the services provided, this iFOREX Review will explore some of the reasons why a CFD trader should work with this broker.

iFOREX logo

 

Trading Software

iFOREX allows customers to trade via a tailor-made trading platform that enables them to fully customize their trading experience while benefiting from innovative trading tools. This versatile platform operates smoothly and securely from any computer, with no download required.

At the same time, it provides an optimal trading experience on mobile, for both Android and iOS users. Through a secure and regulated trading environment, integration of economic calendar and trading signals, advanced live charts and indicators, user-friendly and intuitive interface, and support for multiple devices, the iFOREX is the daily driver for all CFD traders.

It does not matter what trading style you currently have, because this trading software will fit your strategies and trading schedule with ease. Based on the online reviews we’ve seen, the platform benefits from good feedback among customers and that’s an important thing to take into account.

iFOREX platform

iFOREX Assets

Trading with iFOREX means access to more than 800 different CFD instruments, including currencies, indices, shares, ETFs, commodities, and cryptocurrencies. Considering the broad coverage currently available, customers can get involved in many different markets and find opportunities, while having a diversified exposure.

The iFOREX live rates are accurate due to increased liquidity conditions. It does not matter what instruments you want to trade, the broker has made sure that you get access to a variety of assets, and cut your portfolio’s expenses by opening deals on CFDs with competitive spreads.

Aside from the CFD offer, iFOREX offers direct access to global markets and the ability to invest in the price of top stocks. You can trade popular stocks with 0 commission, benefiting from stocks derivatives with a broker that has more than 20 years of experience.

Lastly, you can open a fixed interest account and earn 3% interest. In this case, the minimum deposit is $1,000 and you will need to maintain monthly activity (deposit once a month). The interest is paid monthly, there are no charges from iFOREX, and negative balance protection is granted.

Account Types

It is also important to note that all iFOREX clients will get access to a standard account, regardless of their initial deposit. They will be able to fund an account via credit/debit card, wire transfer, Skrill, or Neteller, using the same methods for withdrawals, as well. On top of that, traders working with the broker will benefit from trading signals, economic calendar, indicators, and trading sentiment (to see what other traders are thinking).

Education

Part of the iFOREX promotions, customers can get access to different educational resources. The Education Package provides access to 1-on-1 training for beginners, exclusive trader guide, and full access to video tutorials. On the other hand, the Pro Package provides access to advanced 1-on-1 training, 2 weeks of free signals, and tight spreads on popular CFDs.

iFOREX education

Informative articles and PDF guides complete a very comprehensive offer designed to help traders with different market experience to further enhance their trading skills. iFOREX is widely known as a broker that pays close attention to education and that has still not changed.

 

iFOREX Conclusion

Having been active in the market for the past 20+ years, iFOREX has built a solid reputation and it is now viewed as a leading trading brand in the industry.

Considering its vast trading experience, there is no reason why we should believe this is a scam. On the contrary, this is a broker to work with if you want to benefit from proprietary software, 800+ instruments, multiple educational resources, and personalized customer support in your native language. Making sure that customers from different countries are given increased attention is one of the reasons why iFOREX benefits from good ratings.

 

Trading financial instruments with margin carries a high level of risk, can work both for and against you, and can result in the loss of part or all of your investment (deposit). You should not invest money that you cannot afford to lose. Should you have any doubts, you should seek advice from an independent and suitably licensed financial advisor. Furthermore, you should ensure that you have sufficient time to manage your investments on an active basis. iFOREX does not provide investment advice and the information provided herein is intended for marketing purposes only and should not be relied upon as investment advice. Any indication of past performance of a financial instrument is not a reliable indicator of current and/or future performance of such financial instrument. Please read our Client Agreement and Risk Warning carefully before conducting any trades.

 

Stop Loss Hunting in Forex

July 24, 2018 at 2:51 pm

If you are not new to forex trading, you have probably heard about the stop loss hunting myth and it can generally influence the way traders perceive the market. That is why in this article we will digest this issue and make clear once and for all if stop loss hunting is true or not and what any forex trader can do in order to avoid being involved in such situations.

Retail trading and conflict of interest

One thing that most of the retail traders do not know is that any broker that lacks regulation and internal ethic is basically functioning as a betting company. This type of broker is literally opening positions on the other side of the market without telling anything to traders.

Also, the broker can see where the majority of people is placing stop losses and take profits, and by widening the spread (the difference between the bid and ask price) is able to trigger stops and thus make clients lose money.

What should a trader do?

You as a trader cannot stop this kind of activity, but you can take some measure in order to protect yourself. You must start to think outside of the box and take precautions, so you won’t work with a broker that does what we have described above.

The first thing to do is to choose a broker regulated by a strong and popular financial watchdog. The Financial Conduct Authority in the UK and the Securities and Exchange Commission in the United States are just two examples with that respect.

Another important aspect is the liquidity provider your broker works with. 5 digits quotes and a clear chart can prove that.

It is also a good thing to check for other broker’s quotes to see if there are significant discrepancies between them. If the liquidity provider is different, the quotes might vary a bit, but significant differences should ring alarm bells.

Your trading strategy should also be set correctly. Most of the beginners lack a deep understanding of the markets and blame the broker for their losses.

Trading forex requires a lot of work and many things to take into account. The small details can add up and in the long run, can generate huge returns. Make sure to take into account all the information we have mentioned here in order to avoid working with an online broker that only looks after its interests.

 

Tips for Professional Forex Trading

July 2, 2018 at 2:51 pm

If you are reading this article you are most likely one of those that have a strong desire to achieve success in forex trading. However, when it comes to actually do what is required for that, you find it hard to implement all the things. Also, some of the information that had been given to you by all the “online expert traders” seems to be useless and that is why we want to give you a few trading tips that will certainly help you in your day to day activity.

Tip #1 Focus on the process not on the reward

We know that each one of you is trading because each of you wants to have more money. That is a fact which can’t be denied. However, focusing on the money and not paying 100% of your attention to the process that will eventually lead you to have more money, can end up with you actually losing money and become emotional when it comes to forex trading.

How you treat this activity is crucial if you want to be a professional forex trader. We’ve emphasized in a previous article, that treating forex like a business is the best way a person could approach this process.

Also, as we have learned from Jesse Livermore, understanding the fundamentals of the market and tracking its performance represent aspects of the trading process that you should focus on.

Tip #2 Constantly improve your game

Maybe you are one of those that already manage to get results trading forex. Maybe you have understood the market rhythm and you have developed a trading strategy that makes money. Congratulations on that, but things do not end here. There always room for the better, so this tip is to constantly look for ways that will improve your performance. You can do that by reviewing your trading activity. By doing so, you will be able to spot subtle details in your trading that could be optimized.

Tip #3 Don’t take yourself too serious

Even though you might be taking into account all the good information about trading (which is relatively impossible to do) you are still going to make mistakes. Agonizing on those mistakes and not be able to move forward can be a huge roadblock in your journey. Learn to embrace your weaknesses and your vulnerabilities and accept yourself just as you are right now. Without doing these things, you won’t be able to become a better person that you are now.

 

Should You Rely on RSI in Forex?

April 30, 2018 at 7:18 am

The Relative Strength Index is probably one of the most popular price indicators and it is being used by those traders who are at the beginning with forex trading. However, the indicator might be misleading for most of the traders, as they fail to understand it properly, which leads to some painful mistakes. In this article, we will cover the basics of RSI and we will also try to answer the question: Is RSI good for Forex trading?

General Information about RSI

What is RSI?

It is a technical indicator used to measure the strength of a particular trend, based on the closing price for a given period of time. The most popular period is 14, but other ones could be used, as well. The indicator can have a value between 0 and 100, with two levels being used as a threshold in order to determine in what kind of environment a particular asset is in.

If the RSI is located around or below the 30 level, that means we are in an oversold condition. A value above the 70 level will mean that an overbought condition is in play. Simple enough to understand, but some particularities will need to be taken into account in order to use the indicator properly.

Is RSI reliable?

It could be, but you must apply it in a certain context. Technical analysis is like an art, it can be mastered with time and in order to do that, you must practice and go over a lot of mistakes.

Now, getting back to RSI, let’s take an actual example from the chart. You can see below the EURUSD on the 4h chart and three situations we’ve spotted, two oversold and one overbought.

RSI trading

You can see that the market started to move in the opposite direction each time. The first thing to take into account is to use the indicator on a higher time frame. You could find signals on the smaller time frames, but it will most likely generate a lot of false signals.

The second thing and the last is to take signals that form on the dominant side of the market. In the example above, the pair had been in a bullish trend and buying the pair on oversold conditions would have generated strong signals, as it is highlighted on the chart.

 

 

 

Understanding the Market Rhythm

April 26, 2018 at 7:21 am

An ordinary forex trader will go out and learn technical analysis, fundamental analysis, and sentiment analysis, as all the books and online courses are saying, but only a few go deeper than that and learn some subtle details of the market. That is what we are going to do today, as we aim to explain a bit what the market rhythm is and how it could help you to anticipate recurrent patterns in the market.

What does rhythm have to do with Forex?

Well, it does. The market functions exactly like a car piston. It cannot move in a single direction, without moving in the opposite. No matter how an impulsive trend it, if you zoom on the smaller time frames, you will see counter trend players. Their influence is small, but it exists. Now, this series of moves on both sides sometimes has predictable unfolding.

Let’s see an example from the chart, to explain the concept better.

Below we have the EURUSD on the 1h chart, a pair which had performed very well in 2017. What we have spotted there is a series of legs that are similar to each other.

Market rhythm

The legs a, c, e, and g are considered consolidations on the other side of the dominant trend. On the other hand, legs b, d, f, and h, are impulsive moves in the dominant side of the market, since they cover more ground.

What we can notice there is this pattern of small consolidations followed by impulsive moves occurring four. This is what we mean by market rhythm. Is a recurring behavior of price which can lead to an anticipation of the future movements.

What you need to understand, though, is that not all the moves will be exactly the same. The length will be different, maybe some of them will cover more ground than the others. In such a liquid environment like the forex market, it is possible. What is important is to develop your focus and discipline in order to be able to spot this kind of price structure. Combined with a technical strategy it can lead to successful forex trades, for sure.

 

How to Think Outside of the Box in Forex

April 22, 2018 at 7:18 am

You’ve probably heard this phrase a lot of times and you haven’t manage to understand it. Also, even though you manage to understand, you don’t really find a way to apply it, so your actions will evolve for the better. Today we’ll cover this topic related to market psychology and mindset of trading and hopefully, you will be able to get what this is all about. We must say from the start that thinking outside of the box is a skill that can be practiced with time, so don’t worry if you are not able to master it right now.

Crowd behavior and its bad consequences

The Forex market is formed of a large number of people – a crowd and the way it evolves over is a result of the actions this large group makes. Some of them have a higher influence than other and so forth, but the bottom line is that crowd behavior drives the market.

If we analyze this crowd, we could see that we can split it into more categories. We will stick to just one of them- losers and winners, for the sake of the current subject.

People that are part of the winning side are able to understand the force of crowd behavior and anticipate what could influence that behavior in the future ahead. If they can anticipate the behavior that could lead to the anticipation of the market moves.

Forex mindset

Source: pexels.com

Thinking outside of the box simply means having a collateral view of the situation and managing to form objective conclusions. A person who thinks outside the box will never act impulsively and will never take a trading position just because he thinks all the people are doing that.

The crowd behavior is influenced by emotions and if we talk about professional forex trading, those emotions must not intervene in the decision-making process. That is why most of the people do not manage to generate profits. They act impulsively most of the time, while professionals manage to think outside of the box and anticipate future moves. Easy to talk about, but it can take years to master this skill, so make sure to start from now.

 

Risk Aversion and Forex Trading

April 15, 2018 at 7:18 am

In order to understand better the market psychology, this time we will discuss another interesting concept, which is the risk aversion. The current economic context is another reason why we want to approach this subject. The global economy had been expanding since 2011 and since 2009 in the United States. A recession is something normal in this case, as the economic cycles principle is stating. During those periods, risks aversion appears as the market sentiment deteriorates. Let’s dig into this subject and see what the particularities of this concept are.

What is risk aversion?

Risk aversion is a situation when the market participants are no more willing to invest their money in risky assets (stocks, precious metals, commodities etc) and place their money into safe assets (bonds, bank deposits etc.) due to economic contraction, political uncertainty, natural disasters or any other even with a significant negative impact on the economy.

Risk aversion

Source: https://www.publicspendforum.net

Periods with high-risk aversion have low market performance associated and thus returns are low, especially for long-term investors.

What should forex traders do during these periods?

What usually happens in the forex market is that investors are buying safe-haven currencies. We’ve covered the topic of safe-havens in a previous article and you can check it as well.

During the last severe economic crisis, which took place back in 2018, the yen, US dollar and the Swiss franc had been the biggest gainers, due to their safety profile.

Our assumption is that due to extreme nonconventional monetary policy from the Switzerland National Bank, the franc might not be able to gain as much as the yen or the US dollar.

The biggest economy of the world at this point, the United States, and US bonds are considered to be safe, that is why investors are selling currencies in order to buy US dollars so they will be able to buy bonds.

Also, following the crisis of 2018, the major central banks had embarked on a road of easy money, lowering rates and printing money, leaving them with little room for action in case another economic contraction takes place. Protection is the first objective when risk aversion is high and that is what you should do, as well, not expecting huge returns in short periods of time.

 

Basic Forex Trading Strategy

April 8, 2018 at 8:34 am

The trading strategy a forex trader chooses can be a defining tool for the future positive performance. This material had been designed for beginning forex traders that are searching for an effective trading strategy. What we need to mention from the start is that this strategy, like any other one, should be tested first. Forex trading demo account is a must, especially if you are at the beginning and you need to develop those skills required for you to generate consistent returns.

So, without further a due, let’s jump into the actual strategy that we want to talk about.

False breakout trading strategy

False breakouts happen many times in the forex markets, simply because support and resistance levels are not like a line in the sand. They are actually several layers deep and you will usually find the market breaking a certain support/resistance only to resume impulsively in the opposite direction.

This could be a great opportunity for you, but you need to learn how to do it. First, we must mention that this strategy should only be used for with trend trading. Do not even apply it for counter-trend trading.

Let’s show an actual example, so you could understand the strategy better.

Source:dailyfx.com

Above you can see the EURUSD chart on the 4h time frame. Since the beginning of 2018, the pair had a good performance, following around 13% gain in 2017.

We’ve drawn on the chart the 1.1941 level, which was a key support level. As you can see, the sellers managed to break it in the first place. Considering that the selling leg down was pretty impulsive, some of the traders might have assumed that the market will continue lower. The exact opposite happened and the price surged impulsively on the upside.

Let us know explain the basic rules of the system:

  • First, find the dominant direction of the market (the context)
  • Look for a key support/resistance level to which the market had responded in the past
  • Wait until that particular level had been broken on the other side of the dominant direction of the market.
  • For conservative traders, you can wait until the dominant side resumes and breaks again the level and tests it.

You can place stop loss below/above the false break formation, and target at least 2 or 3 times the stop loss value. This kind of setup had a good accuracy and over time it can be very effective.

As we’ve already mentioned, don’t forget the forex trading on demo account before you actually trade live, with your own money.

Risk Disclaimer
Foreign exchange trading carries high risk and may not be suitable for everyone. You should carefully consider before deciding to invest in speculative assets. No information contained in this article should be regarded as a decision to buy a certain asset.

 

The Canadian Dollar is Poised for Further Weakness

April 4, 2018 at 5:42 am

The Canadian Dollar has been trading under pressure as tariffs could weigh on the currency. The Bank of Canada delivered the widely expected lack of change, leaving the setting for the overnight rate at 1.25%. While higher rates over time remain implied by their economic outlook, they repeated that they will be cautious in considering future policy adjustments. Their views on recent developments were largely balanced, but with a notable mention of the growing uncertainty to Canada’s outlook posed by trade policy. The markets projection is for two more rate increases this year, in July and October, leaving a 1.75% setting by year-end.

The crucial final paragraph of the announcement was little changed relative to January. The repeat of “further rate hikes likely but guided by data and implemented with caution” is a place-holder as they observe the evolution of trade policy, wages, housing and GDP.

The Bank of Canada expects GDP growth of 3% in 2017 in-line with the Bank’s projection in the January monetary policy report. Yet that was largely due to higher imports, which mainly reflected stronger business investment. The key for policy going forward is the evolution of GDP and inflation relative to their projections. But uncertainty remains elevated, including the tariff plans from the White House in the United States making for a policy outlook that is written in very light pencil.

The March announcement revealed little change in the cautious, data dependent Bank of Canada. Hence, they should be able to hold policy steady until past mid-year, providing ample time to access the impact of NAFTA and possible U.S. tariffs on trade and investment. The long-anticipated rotation to export and business investment from household spending and housing is moving along in fits and starts. Of course, household spending did slow in Q4, which is something the Bank has been eying for some time. The announcement assured that they are continuing to monitor the economy’s sensitivity to higher interest rates, noting that household credit growth has decelerated for three consecutive months.

Three Rate Hikes in 2018

The Bank of Canada is expected to move again in July, lifting rates 25 basis point to 1.50%. Another 25-basis point rate hike is penciled in for October to leave a 1.75% rate that should close out the year. But the risk is intensifying that the economy faces fresh headwinds from trade and housing this year. Of course, an expanding U.S. economy would provide a strong tailwind for Canada, if trade protectionism does not weaken the link between the two nations. In other words, uncertainty clouds the outlook, leaving a gradual and cautious course ahead as the most sensible policy path for the Bank of Canada this year.

Canada housing starts improved

Canada housing starts improved to a 229.7k unit pace in February from a revised 215.3k growth rate in January. Currency trading of the Canadian Dollar saw the Loonie remain stable. The pick-up in starts was contrary to expectations for a mild dip and comes amid general softness in sales and prices so far this year as new mortgage rules and other measures pulled-activity ahead to late 2017. Starts saw a 6-month average of 225.3k in February versus 224.6k in January, maintain a steady growth rate since November of last year. Single detached starts fell 9.8% to a 56.7k rate in February while multiple urban starts jumped 15% to 154.5k in February. By region, starts improved in Toronto and Vancouver, with a record number of apartment starts featuring in Toronto.

Canadian Dollar