Keler Group – Are They a Scam?

Website URL: https://kelergroup.com

Founded: 2021

Regulations: No Regulation

Languages: English, French, Italian, Portuguese, German, Spanish, Polish, Russian, Dutch, Arabic

Deposit Methods: Unknown

Minimum Deposit: $500

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Cryptocurrencies

Trading Accounts and Conditions

There is not any information about the types of trading accounts offered by Keler Group. There seem to be multiple types of trading accounts, and the minimum deposit amount is about $500. However, what those trading accounts and their offerings are is unclear. There is no information on their trading conditions either. There is only one mention that they offer the lowest commissions. Keler Group claims that you will be charged only 0.1% for both your opening position and your closing position, and that there will be a 0.2% rollover fee if you keep your position open overnight.

Keler Group – Advantages

There are no advantages to trading with Keler Group – this broker is a scammer and your funds are at risk.

Keler Group – Disadvantages

Here are all the red flags that indicate to us that Keler Trade is yet another scammer and that your money is not safe with them:

• Unregulated, Anonymous Broker

On their website, Keler Group does not provide any corporate information. We do not know which company owns this website, where it is located or even its contact information. The only way they have give customers to get in touch with them is via email on their Contact Us page.

When we checked the Terms and Conditions, we found out that this broker claims to be based in Switzerland and that they may be owned and operated by a company called Digital Markets (no details about this company are provided beyond its name).

Firstly, to be regulated in Switzerland, the broker would need to be licensed and authorized to operate by the country’s financial regulator – FINMA (Financial Market Supervisory Authority). We checked the online register of the FINMA to verify Keler Group’s claims, and we were not surprised to find that this broker is not listed with this financial authority.

This means that Keler Group has lied about its regulation and licensing status and is actually operating illegally and is therefore a scam. Dealing with such an untrustworthy broker is dangerous and your funds are at risk.

Plus500

$100

Minimum Deposit

Start Trading

Read Review

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.

 

AvaTrade

$100

Minimum Deposit

Start Trading

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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.

• Issues with Trading Software

Since Keler Group did not clearly publish its trading conditions, we decided to open an account with them to check for ourselves. It would also give us a chance to check out their trading software.

However, when we tried to register, we kept getting a technical error. Finally, after multiple tries, we were allowed access. And what we saw only confirmed our suspicions. This broker doesn’t have any kind of trading platform at all. Once we completed our registration, we were directed to a dashboard that only displayed some vague market chart. There was no functional trading platform.

This shows that Keler Trade is nothing but a scam.

• Bonuses with Strings Attached

Keler Group promises its customers massive bonuses. This, of course, is a clear sign of a scam because bonuses have been banned in most regulated forex markets. This is because these bonuses come attached with very unfair terms and conditions. And Keler Group’s bonuses come with some really ridiculous conditions.

Firstly, this broker tries to disguise its bonuses by calling them added funds. Whatever they are called, once you accept these added funds, you waive the right to make any withdrawals until you meet their trading volume targets. You need to reach a trading volume that is at least the sum to your total deposit plus the bonus amount multiplied 500 times!

Next, the broker also reserves the right to change the bonus policy any time they like. Therefore, if by some supreme effort, you do finally manage to reach the required trading volume, the broker can simply change their policies, ensuring that you never get to withdraw any money at all!

• Unfair Withdrawal Conditions

Keler Group has some rather unfair withdrawal conditions in place. When you go through their withdrawal policy, the broker states that when you request to withdraw your money from your account, you will be charged additional fees and there will also be certain restrictions. The broker, of course, doesn’t bother specifying what these fees or restrictions are. This gives them leeway to basically deny your withdrawal request (read: restrictions).

• Issues with Trading Conditions

While this broker has not mentioned its trading conditions clearly (which is a huge red flag for us), here is what we know. The minimum deposit amount is $500, which is rather high, especially when you consider the industry standard ranges from $100 to $250. It is even higher when you see that there are numerous very reputed brokers who will ask from a minimum deposit that is as low as $5.

We know nothing about their spreads or leverages, but we do know that this broker claims to charge the lowest commissions (as mentioned above). This is highly unlikely considering the kind of bonus conditions and withdrawal policies they have in place.

• Suspicious Payment Methods

The broker does not elaborate on the types of payment methods they offer. However, considering the fact that the minimum deposit amounts were in USDT (Tether), it would mean that the only way that clients would be able to make deposits with them would be through cryptocurrency – which is another red flag. Crypto payments are permanent and irreversible, so once you have deposited your money, there is no way to get it back – a typical scam tactic.

Conclusion

Keler Group is not to be trusted. This broker is a scam and if you invest with them, you are sure to lose all your money – with no way to get it back. We recommend looking for a regulated, transparent broker instead.

Keler Group

2.4

User Experience

3.3/10

Payment Options

2.4/10

Security

2.0/10

Support

2.0/10

Reputation

2.2/10

Pros

• None

Cons

• Unregulated, Anonymous Broker
• Issues with Trading Software
• Bonuses With Strings Attached
• Unfair Withdrawal Conditions
• Issues with Trading Conditions