KBLTrade – Should You Invest in Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
KBLTrade - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2021
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://www.kbltrade.com
Founded: 2021
Regulations: Unregulated
Languages: English, Arabic, Korean, French, Deutsch, Turkish
Deposit Methods: Bank Transfer, E-wallet, Credit Card,
Minimum Deposit: $250
Free Demo Account: No
Number of Assets: N/A
Types of Assets: Forex, Indices, Stocks, Commodities
Trading Accounts and Conditions
KBLTrade is an anonymous broker that offers five account types, with each tier providing increased benefits. The Basic account type has a minimum deposit of $250 and a maximum of $10,000 and includes leverage of 1:100. The next one is the Silver account type, which has a minimum deposit of $2500 and a maximum of $10,000. It has a leverage of 1:30. The third is the Gold account type, which has a minimum deposit of $10,000 and a maximum of $25,000, and it provides leverage of 1:50. The fourth account type is the Platinum, and it has a minimum account deposit amount of $25,000 and a maximum of $250,000. It has a leverage of 1:100. Lastly, they offer their highest tier, the Diamond account type. It has a very high minimum account deposit of $250,000 and a limitless maximum account deposit. It has a leverage of 1:150.
All the account types are also blended with welcome bonuses that are being used to attract people into opening accounts, and it starts from 10% to the last tier account with a maximum of 100% deposit. KBLTrade is also very adamant in marketing their highest tier account by providing many benefits, such as access to KBLTRADE Rewards, Complete Money Management Plan, Trading Alerts & Events Analysis Event Trading, and many more.
KBLTrade.com – Advantages
There are no clear advantages to using KBLTrade as a broker, and it is much better to find another one that is registered and regulated by strong financial authorities.
KBLTrade.com– Disadvantages
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Anonymous and Unregistered
KBLTrade’s website looks clean and decent, at least, but they can’t still hide the fact that they are anonymous and aren’t providing many details about themselves or their identities. The only thing that they have provided on their website is a mobile number based in the UK. However, this can be easily manipulated through many sources, and it is not suggested to trust a broker that only provides this detail.
The UK is among those territories that are very strict when it comes to broker laws. They are doing their best by implementing regulations and making every business license to track their activities. KBLTrade doesn’t provide any permit on their website, which only means that they are fraudulent, and a bunch of scammers are pretty much running the website.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Weak Trading Platform
A trading platform can make a ton of difference, so getting the latest and most efficient software in the market is highly suggested. In the case of KBLTrade, they only use a web-based trading platform that is nowhere comparable to the MetaTrader trading platform lineup that provides many features and has many apparent benefits.
The web-based trading platform that KBLTrade uses isn’t even on par with modern standards as it lacks a lot of features, and it is not stable in any way.
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Predatory Welcome Bonuses
Welcome bonuses aren’t new when it comes to broker websites as they are mainly used to entice clients and have them invest more money than they usually would. Licensed brokers provide a flat amount of deposit bonuses, and in some cases, they make it so that the user can’t withdraw it so that they can only use the extra for trading.
KBLTrade provides a percentage type of welcome bonus that isn’t common for licensed and regulated brokers. They even give a 100% welcome bonus to their highest tier of account type, which is very fishy considering that the minimum deposit is very high. It is only ridiculous to think that they will give the equivalent of what is deposited.
Do not fall for these types of bonuses and rewards, as those that are too good to be accurate are indeed classified as a scam. They’re a trap designed to make people fall into realizing that they will earn more money if they deposit large sums of funds. In reality, the scammers will take away the funds and keep it to themselves, doing their best to prevent their clients’ withdrawal actions to avoid being branded as a scam.
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Very High Minimum Deposit
Even for the lowest account type, KBLTrade’s minimum deposit amount is very high and is set to $250. It isn’t recommended that beginners have this minimum deposit amount as it would only make them lose a lot of money, considering that they don’t know how everything works yet.
Legitimate and registered brokers only ask for small amounts to be deposited, and some can even go as low as $5.
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High Leverage
Although KBLTrade has modified and ramping leverage on their account types, it is still not recommended to trade or invest even a single penny with them. First, they are a scam, and second, they have very high leverage even on their lowest tier of account. The higher the leverage, the higher the risk that the trading sessions would have, and it is never suggested to have too much risk when it comes to trading or dealing with brokers. Although they can potentially give you more payout, the chances of this happening are meager, and it is much better to invest in brokers that are verified and only have very low leverage.
Conclusion
Everything about KBLTrade screams that they are a total scam; from the website credentials to their account types, it is evident that they only want your money, and they don’t have any intentions to help you make more money. Although they have reasonable payment and deposit methods, it is still not enough to compensate for the lack of regulation and proof of legitimacy on their website. The credentials are essential for forex and crypto brokers, and we highly suggest that you look into them before investing any money. In conclusion, KBLTrade should never be on your investment list since it is a total scam.
KBLTrade
Pros
- None
Cons
- Anonymous and Unregistered
- Weak Trading Platform
- Predatory Welcome Bonuses
- Very High Minimum Deposit
- High Leverage
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.