KSG Markets is another forex broker that plays fast and loose as regards to the information it provides. In the review below, we take an in-depth look at the features ksgmarkets.com allegedly offers. This review basically answer the questions: is KSG Market legit? Is Knight Service Group reliable? The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about KSG Markets Forex broker.
Table of Contents
KSG Markets Trading Platform
This broker claims to support the MT5 trading platform.
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KSG Markets Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea how a broker might work.
After checking, we discovered that this broker has four account types
KSGMarkets Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
We could not find any discernible method that this broker uses to carry out transactions.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is KSG Markets Licensed?
Licensing is another important part because we can trust a regulated broker to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it regulates said brokerage.
In checking the license status of this broker, we had to check several regulatory bodies. We checked the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others. At the end of our search, we didn’t find any licensing information concerning this broker.
After checking this broker’s claim of being licensed by the New Zealand Financial Markets Authority (FMA). Not only did we learn that they were not licensed but there was also a warning issued against them by the same regulatory body.
Brokers have different modes of operation, notwithstanding there is still a rhyme and reason to their actions. Most Unlicensed brokers lack this reason to their actions, Brokers like NorthState, Market4now, Vertex247, Investotrades.
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Accounts
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:300
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
In fact checking this broker, we found that many of its claims were false or unverifiable. We can’t confirm their location, and also, there is a lack of transparency in depositing funds and even a foggier and non-explained process of withdrawing. We don’t advise you to invest with this broker, any attempts to do so we lead to loss of your funds.
I have been recommended to trade with this company by 2 separate Chinese ladies. Beware!!! Scam scam scam