New brand name Q8Trade will at first target Kuwaiti clients.
Increasing varieties of forex and CFDs brokers are releasing in the Middle East. Finance Magnates had a fast chat with Ali Hassan, VP of business advancement at the newly-launched FX and CFDs brand name Q8Trade, to find out why they decided to develop their operations in a fairly emerging market, to discuss their growth into the Gulf states and the MENA area total when possibly the company might move into the more industrialized Eastern markets.
Q8 Trade is a brand name owned and run by Q8, an independently held securities company controlled by the Central Markets Authority (CMA), the Kuwaiti monetary guard dog. Its license enables it to offer online brokerage services for CFD and forex trading.
As a Kuwait-based broker, its website is readily available in both English and Arabic, and it has client service workplaces in Kuwait and Cyprus.
Established in 1985, Q8 Securities was initially developed as Al-Arabi before it rebranded previously this year. The improvement and launch of the brand-new FX brokerage business was focused on providing off-market, custom services for retail customers in the area.
The brand-new business, which will at first concentrate on Kuwait but is planned to consequently broaden into other Arab nations, appears eager to produce a specific niche for itself as one of the area’s pioneering monetary company. Most especially, Q8 Trade has signed up with the growing list of mainstream retail brokers that provide cryptocurrency trading, with the company currently providing bitcoin pairings through its trading platform.
This might be an effort to record a bigger market share as none of the recognized companies in the area have aimed to develop a native neighborhood around a devoted cryptocurrency offering.
UAE and Saudi Arabia in Focus
Generally a hard market to get into, Q8 Trade constructs on its parent’s substantial experience to understand the area’s customer base and trading designs, and has the ability to accommodate the more intricate requirements of lots of Islamic customers.
With a thriving economy and enormous levels of inward financial investment and migration, Kuwait looks a significantly appealing financial investment chance, especially with present unpredictability in the MENA markets. Nevertheless, broadening into more industrialized markets within the Gulf area, such as Saudi Arabia and the UAE, will be an intricate procedure with numerous possible risks, as getting ‘directly’ regulative approvals to run a forex retail brand name is exceptionally hard.
Discussing this, Ali Hassan, VP Business Development at Q8Trade, stated: “Without a doubt, the Q8Trade brand name will be a game-changer for the forex and CFDs market in the Middle East. This brand-new brand name is the outcome of difficult group work, the most recent innovation and years of experience in the capital markets. Our primary objective is to open the trading market in an easy and friendly way.”
He continued: “Q8 Trade pertains to show to traders that forex is not everything about the bad track record it has, with Q8Trade people can be sure that they will become part of a controlled and transparent system. Our workplace doors in Kuwait city are open for any trader who can visit us and get all the info he is trying to find, and our future strategy is to have more local workplaces in the Arab area in order to use the very best and fastest, relied on service.”
“We think that an effective broker must buy his customers and prevent disputes of interests, for that reason our economists and knowledgeable brokers never ever stop investigating, evaluating and planning to supply the very best instructional resources and tools to assist traders from different backgrounds and experience levels to choose the very best chances and accomplish their monetary aspirations,” concluded Hassan.