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8xTrade -

Score

1.25 /10
Danger

8xTrade

Saint Kitts and Nevis

1-2 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://8xtrade.com/en

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Comparison

Quantity 5

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index5.01

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

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Company Name

Digital Smart LLC

Company Abbreviation

8xTrade

Platform registered country and region

Saint Kitts and Nevis

Company website

Facebook

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2025-01-09
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 4 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

Exposure

5 pieces of exposure in total
Pyramid scheme complaint
Expose
Scam

Scam, when trading a lot, the account is blocked and canceled.

Be careful, you cannot withdraw.

FX3301006859
2024-10-30 09:44
Unable to Withdraw

Headache

Scamming can earn 500,000, revealing the game... cutting off the total and only returning the first bill

นัท4511
2024-11-09 03:25
Scam

Be careful, there are scams, please be cautious.

Trading a lot and refusing to pay will result in the closure of our account, claiming that we have violated the rules. Be careful.

FX3301006859
2024-10-18 13:14
Scam

I trade normally without using any programs or VPN programs. In the first round, I had a small balance of 1600 and I was able to withdraw it as usual. I can play a lot and I admit that I did not follow the rules.

I trade normally without using any programs or VPN programs. In the first round, I had a small balance of 1600 and I was able to withdraw it as usual. I can play a lot and I admit that I did not follow the rules.

FX3301006859
2024-10-16 14:11
Resolved

8XTrade scam, sir.

I trade normally without using any programs or VPN programs. In the first round, I had a small balance of 1600 and I was able to withdraw it as usual. I can play a lot and it is said that I do not follow the rules.

FX3301006859
2024-10-15 13:07
8xTrade · Company summary
8xTradeReview Summary
Founded2018
Registered Country/RegionSaint Kitts and Nevis
RegulationNo regulation
Market InstrumentsCurrency pairs, stocks, gold, oil
Demo Account✅ ($10 000 in virtual fund)
LeverageUp to 1:50
Spread/
Trading PlatformWindows, macOS, mobile APP and the web-based platforms
Min Deposit$10
Customer Support24/7 - email: support@8xtrade.com
Facebook: https://www.facebook.com/8xTrade/
Address: Lighthouse Trust Nevis Ltd, Suite 1, A.L. Evelyn Ltd Building, Main Street, Charlestown, Nevis
Regional RestrictionsUSA, Canada, Switzerland, Australia, Israel, Palestine, Japan, Sudan, Syria, Iran, North Korea, Republic of the Marshall Islands, Puerto Rico, Liberia, New Zealand, the Russian Federation and/or any country of the European Economic Area (EEA) clients are not allowed

8xTrade Information

Founded in 2018, 8xTrade is an unregulated broker registered in Saint Kitts and Nevis, offering trading on currency pairs, stocks, gold and oil with leverage up to 1:50 on Windows, macOS, mobile APP and the web-based platforms. The minimum deposit requirement is as low as $10.

8xTrade's homepage

Pros and Cons

Pros Cons
Demo accountsNo regulation
Low minimum deposit requirementLimited trading assets
Various fees
No MT4/MT5 platform
Limited payment options
Only email support
Regional restrictions

Is 8xTrade Legit?

8xTrade asserts that it implements Anti Money Laundering (AML) and Know Your Customer (KYC) policies to safeguard trading safety. However, the absence of valid regulation means that there is no governmental or financial authority overseeing their operations. Please be aware of the risk!

Domain information

What Can I Trade on 8xTrade?

Tradable Instruments Supported
Currency pairs (EUR/USD, GBP/AUD, CAD/CHF)✔
Stocks (Tesla, Spotify, Alibaba)✔
Gold ✔
Oil ✔
Indices❌
Cryptos❌
Bonds❌
Options❌
ETFs❌
What Can I Trade on 8xTrade?

Leverage

The broker offers flexible leverage options, varying by market instruments from 1:20 to 1:50. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.

Leverage
Leverage
Leverage
Leverage

8xTrade Fees

Administrative Fee$20
Commission ❌
Document Fraud Fee$20
Deposit Fee ❌
Withdrawal Fee $31 or the equivalent
Dormant Account/Inactivity Fee 10 EUR for 90 consecutive calendar days or more the cient does not place orders to make trades/transactions
Swap Fee 0.01% – 0.5% and in extreme circumstances up to 1.7%
3 times higher than normal (Friday - Saturday)

Trading Platform

Trading PlatformSupported Available Devices Suitable for
8XTRADE platform ✔Windows, macOS, mobile APP and the web-based platforms/
MT4❌Beginners
MT5❌Experienced trader
8XTRADE platform

Deposit and Withdrawal

The broker accepts payments via Krung Thai Bank, Bank of Ayudhya, Bangkok Bank, Siam Commercial Bank, Kasikorn Bank, Thanachart Bank, UOB, CIMB Thai Bank, VISA and MasterCard.

Deposit Options

Deposit Options Min DepositFees Processing Time
Krung Thai Bank, Bank of Ayudhya, Bangkok Bank, Siam Commercial Bank, Kasikorn Bank, Thanachart Bank, UOB, CIMB Thai Bank350 THB, 10 EUR, 10 GBP, 700 RUB, 10 USD//

Withdrawal Options

Clients have 1 free withdrawal per calendar month.

Withdrawal Options Min Withdrawal Commission Processing Time
Bangkok Bank, Bank of Ayudhya (Krungsri), CIMB Thai Bank, Kasikorn Bank, Krung Thai Bank, Siam Commercial Bank, Thanachart Bank, TMB Bank, UOB,2 EUR, 2 GBP, 60 RUB, 70 THB, 2 USD2%, max 30 EUR/25 GBP/1500 RUB/1000 THB/30 USDUp to 3 business days
Kasikorn Bank, Krung Thai Bank, Siam Commercial Bank, Bangkok Bank, TMB Bank, Bank of Ayudhya (Krungsri), Government Savings Bank17 EUR, 15 GBP, 60 RUB, 500 THB, 20 USD
Deposit
Withdrawal

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User comment

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FX3301006859
0-3months
ระวังกันด้วยนะครับถอนไม่ได้
ระวังกันด้วยนะครับถอนไม่ได้
Translate to English
2024-10-30 09:44
Reply
0
0
FX3301006859
0-3months
เทรดได้เยอะแล้วไม่ยอมจ่ายจะปิดบัญชีของเราหาว่าเราทำผิดกฎ สารพัดข้ออ้าง ระวังกันด้วยครับ
เทรดได้เยอะแล้วไม่ยอมจ่ายจะปิดบัญชีของเราหาว่าเราทำผิดกฎ สารพัดข้ออ้าง ระวังกันด้วยครับ
Translate to English
+3
2024-10-18 13:14
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0
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5