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Forex

Retail Broker

8X Trade

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8X Trade

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8X Trade - Pros and Cons

Pros

Low minimum deposit

Cons

Lacks regulatory oversight
Unable to provide services in several countries
Limited contact channels, making it difficult to seek assistance
Lack of detailed information on account types

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News

TrustFinance Intelligence Agency

Research date: Thg 10 14, 2025

Investors are advised to be cautious with margin trading due to rising costs and market volatility. The margin trade funding (MTF) book of brokerages has seen significant growth, increasing from R7,100 crore in early 2020 to over R57,100 crore in March 2024. However, interest rates for margin funding have risen from 12-14% to 18-20%, influenced by regulatory tightening and market conditions. Investors should trim their margin leverage and overall exposure given the uncertainties ahead.

Investors are advised to be cautious with margin trading due to rising costs and market volatility. The margin trade funding (MTF) book of brokerages has seen significant growth, increasing from R7,100 crore in early 2020 to over R57,100 crore in March 2024. However, interest rates for margin funding have risen from 12-14% to 18-20%, influenced by regulatory tightening and market conditions. Investors should trim their margin leverage and overall exposure given the uncertainties ahead.

A stock broking scam in Surat has led to charges against 15 individuals, including a former client associate of Zerodha, who allegedly created fraudulent Demat and trading accounts resulting in tax and GST evasion of Rs 2.20 crore. The scheme involved opening 432 accounts using forged documents and executing small trades across multiple accounts to generate high brokerage fees, leading to a total fraud amount of Rs 2.75 crore. Legal actions are being pursued by the CID crime branch against the accused.

A stock broking scam in Surat has led to charges against 15 individuals, including a former client associate of Zerodha, who allegedly created fraudulent Demat and trading accounts resulting in tax and GST evasion of Rs 2.20 crore. The scheme involved opening 432 accounts using forged documents and executing small trades across multiple accounts to generate high brokerage fees, leading to a total fraud amount of Rs 2.75 crore. Legal actions are being pursued by the CID crime branch against the accused.

The Bajaj Housing Finance IPO opens for public subscription today, having raised Rs 1,758 crore from anchor investors. The shares are trading at a grey market premium of Rs 56.70 (81%). The IPO aims to raise Rs 6,560 crore, with a price band of Rs 66-70 and a minimum bid of 214 shares. Brokerages recommend subscribing to the IPO, citing strong brand equity and favorable market sentiment. The subscription window closes on September 11, 2024, with shares expected to debut on September 16, 2024.

The Bajaj Housing Finance IPO opens for public subscription today, having raised Rs 1,758 crore from anchor investors. The shares are trading at a grey market premium of Rs 56.70 (81%). The IPO aims to raise Rs 6,560 crore, with a price band of Rs 66-70 and a minimum bid of 214 shares. Brokerages recommend subscribing to the IPO, citing strong brand equity and favorable market sentiment. The subscription window closes on September 11, 2024, with shares expected to debut on September 16, 2024.

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8XTrade Review: Is 8XTrade Broker Good?

Broker overview and general information

8XTrade was founded in 2018 and is one of the leading online trading brokers, offering Forex, stocks, indices, commodities and other digital assets.
The broker’s website does not provide much history or information about the company, which is a concern for investors, as the lack of information about history and transparency may indicate potential risks.

To make sure, we review all aspects of the broker to see if it has the qualities to be a quality broker.

Broker Licensing and Regulation

If you ask whether 8XTrade broker is good or not, you should start by considering the license factor first, which is not available for the broker's license information.

 ⚠️Warning: No licensing and regulatory information for this broker was found. Investors should be aware of the risks involved as there may be no financial protection from regulatory bodies. It is recommended to conduct thorough studies and consideration before investing.

Trading products and services

Trading products

Currency Pairs: Trade foreign currencies such as EUR/USD, GBP/AUD, and CAD/CHF, which are popular investments.
Stocks: Trade stocks from leading global companies such as esla, Spotify and Alibaba, allowing investors to be a part of their growth.
Commodities: Covers major commodities such as gold and oil, which are assets often used as a hedge against inflation and market volatility.

Trading Platform

Broker has its own platform to support usage on different devices with the following highlights:

Supports Windows, macOS and Android operating systems.
It has a wide range of tools and functions such as chart analysis, trading orders, and real-time market news tracking.
It has a user-friendly interface.
Access from anywhere, whether via computer, mobile phone or tablet, you can access the platform.

Platform type:

Windows applications
macOS applications
Android Application
Web platform:Accessible via browser, no additional software installation required.

Account Type

There are two main account types as follows:

Live Account: This account is designed for real money trading. Users can open a real account by providing information such as email, country and setting an account password. The minimum deposit to start trading is: $10Suitable for beginners, as it has a low initial investment, this live account allows users to trade on real markets on all trading instruments available on the platform.
Demo Account: For those who want to practice or test their trading strategies, brokers also offer demo accounts, which use virtual money to trade, simulating real market conditions, allowing traders to learn and get familiar with the platform without risking real money.

Deposit and Withdrawal Review

Deposit

Method Minimum Amount Commission Processing Time

Bank Cards 300 INR
4 EUR
4 GBP
4 USD 4% 20 minutes - 3 business days

VISA

MasterCard

Withdrawal

Bank	Deposit Method	Minimum Deposit Amount	Fee	Processing Time
Krung Thai Bank	Krung Thai Bank / QR	350 THB 10 EUR 10 GBP 700 RUB 10 USD	0%	Instant
Bank of Ayudhya (Krungsri)	Bank of Ayudhya / QR		0%	Instant
Bangkok Bank	Bangkok Bank / QR		0%	Instant
Siam Commercial Bank	Siam Commercial Bank / QR		0%	Instant
Kasikorn Bank	Kasikorn Bank / QR		0%	Instant

Customer Service

Address: Lighthouse Trust Nevis Ltd, Suite 1, A.L. Evelyn Ltd Building, Main Street, Charlestown, Nevis
E-Mail :[email protected]

Broker Review Overview Summary

8xTrade broker is a trading platform that offers access to financial markets, but there are several considerations to consider. For example, the lack of regulation from a recognized authority makes it unreliable in terms of the safety of funds. There are also restrictions on services in many countries, and limited channels for customer service, which makes it difficult to get help. There has also been criticism of the unclear details of account types, which may leave investors without sufficient information to make decisions.

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