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

Kraemforex

United Kingdom|2-5 years|
White label MT5|Regional Brokers|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

https://kraemforex.com/en

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

1
Server Name
KraemfxTrading-Server MT5
Server Location Hong Kong

Contact

info@kraemforex.com
https://kraemforex.com/en
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

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

Single Core

1G

40G

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Contact number

Other ways of contact

Broker Information

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Company Name

Kraemfx Trading Co Ltd

Abbreviation

Kraemforex

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-07-18
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • United StatesNFA (license number: 0547159) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0547159)National Futures Association-UNFX Non-Forex License. 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

Kraemforex · WikiFX Survey

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Expose

Kraemforex · Company Summary

Aspect Information
Company Name Kraemforex Trading Co Ltd
Registered Country/Area United Kingdom
Founded Year 1-2 years
Regulation Lacks valid regulation
Minimum Deposit $500
Maximum Leverage Up to 1:500
Spreads Not disclosed
Trading Platforms MetaTrader5 (MT5)
Tradable Assets Foreign exchange, precious metals, commodities, CFD products
Account Types Standard and VIP
Demo Account Available
Customer Support Email: info@kraemforex.com
Deposit & Withdrawal Various payment options like wire transfer, MasterCard, VISA, Maestro, e-wallets (Skrill, Neteller, PayPal) potentially supported

Overview of Kraemforex

Kraemforex is an online forex broker based in the United Kingdom, operating without valid regulation. Founded within the past 1-2 years, it offers trading with a minimum deposit of $500 and a maximum leverage of up to 1:500.

The broker provides access to foreign exchange, precious metals, commodities, and CFD products. They offer Standard and VIP account types, along with a demo account. Customer support is available through email (info@kraemforex.com). Deposit and withdrawal options include wire transfer, MasterCard, VISA, Maestro, and e-wallets like Skrill, Neteller, and PayPal.

Is Kraemforex legit or a scam?

Kraemforex lacks valid regulation and has an abnormal status with the United States NFA (license number: 0547159). It exceeds the regulated business scope and has received four complaints in the past three months. Beware of the risks associated with this broker.

regulation

Pros and Cons

Kraemforex offers several advantages as well as some drawbacks. On the positive side, the broker provides accessible trading opportunities with a relatively low minimum deposit requirement of $500. Traders can benefit from a high leverage ratio of up to 1:500, allowing them to potentially amplify their gains. The platform grants access to a diverse range of tradable assets, including foreign exchange, precious metals, commodities, and CFD products. Additionally, Kraemforex offers both Standard and VIP account options, catering to different trading preferences and needs. The availability of a demo account enables traders to practice and familiarize themselves with the platform before committing real funds.

However, there are notable concerns surrounding Kraemforex. One major drawback is the lack of valid regulation, raising potential risks for traders. The absence of detailed spread information may leave traders uncertain about the cost of their trades. Moreover, the company's relatively short history, founded within the past 1-2 years, might make some traders cautious about its overall reliability and stability. The withdrawal process is not well-defined, which could raise questions regarding the speed and efficiency of fund withdrawals. Customer support is limited to email only (info@kraemforex.com), potentially leading to delayed responses or a less immediate resolution of issues.

Pros Cons
- Accessible trading with a $500 minimum deposit - Lacks valid regulation
- High leverage of up to 1:500 - Spread details not disclosed
- Offers a variety of tradable assets - Unclear withdrawal process
- Provides Standard and VIP account options - Customer support limited to email
- Availability of a demo account
- Supported trading platform - MetaTrader5 (MT5)
- Accepts various payment options for deposits & withdrawals

Market Instruments

Kraemforex provides its clients with access to a wide array of popular trading assets, encompassing foreign exchange, precious metals, commodities, and CFD products. This diverse selection empowers traders to tailor their trading activities according to their individual preferences and strategies.

Whether one seeks opportunities in the dynamic forex market or wishes to explore the potential of precious metals and commodities, Kraemforex offers a versatile platform to cater to various trading preferences. By granting traders the freedom to choose from this extensive range of assets, Kraemforex enhances the flexibility and adaptability of its trading services.

Account Types

Kraemforex offers traders the choice between two live trading accounts: Standard and VIP. To open a Standard account, the minimum initial deposit is set at $500. This account type grants traders the freedom to engage in trading activities across various assets, including foreign exchange, precious metals, commodities, and CFD products. On the other hand, the specific initial deposit requirement for VIP accounts remains undisclosed, possibly catering to traders with higher capital or more advanced trading needs.

In addition to live accounts, Kraemforex provides a valuable feature in the form of demo accounts. These demo accounts allow traders to familiarize themselves with the brokerage platform without the risk of using real funds. This practice account serves as an invaluable tool for honing trading skills, testing strategies, and gaining confidence before venturing into live trading. By offering both live and demo accounts, Kraemforex demonstrates its commitment to accommodating traders of different levels of experience and preferences, promoting a well-rounded and supportive trading environment.

Leverage

Kraemforex offers a maximum leverage of 1:500, appealing to professional traders and scalpers for higher potential gains.

However, beginners or risk-averse traders should be cautious, as high leverage can lead to significant losses, especially without proper risk management. Choose a leverage level that aligns with your experience and risk tolerance to trade responsibly.

leverage

Trading Platform Available

Kraemforex provides its clients with access to the renowned MetaTrader5 trading platform. Whether you're an experienced trader or a beginner, this platform is suitable for all skill levels and trading styles.

It offers sophisticated tools for technical analysis, automated trading capabilities (EAs), and mobile applications, widely used by millions of traders globally.

The platform's intuitive user interface allows traders to manage their orders, trades, and account details seamlessly, keeping them updated with the latest market conditions. With MetaTrader5, Kraemforex ensures a user-friendly and powerful trading experience for its clients.

trading-platform

Deposit & Withdrawal

Kraemforex lacks clarity on its deposit and withdrawal processes. While they accept various payment methods such as wire transfer, MasterCard, VISA, Maestro, and popular e-wallet processors like Skrill, Neteller, and PayPal, specific details are not provided. The speed and efficiency of fund withdrawals are vital indicators of a broker's credibility, and this information is essential for traders to assess the broker's reliability and trustworthiness.

Customer Support

Kraemforex provides customer support to its clients for any trading-related inquiries or issues through the following email address: info@kraemforex.com.

Conclusion

In conclusion, Kraemforex offers diverse assets, attractive leverage, and the popular MT5 platform, catering to traders of all levels.

However, the lack of valid regulation and undisclosed withdrawal process raise concerns. Traders should exercise caution, especially with high leverage, and conduct thorough research before choosing Kraemforex.

FAQs

Q: What assets can I trade with Kraemforex?

A: Kraemforex provides access to a variety of tradable instruments, including forex pairs, precious metals, commodities, and CFD products.

Q: What is the minimum deposit required to open a Standard account with Kraemforex?

A: To begin trading with Kraemforex's Standard account, a minimum initial deposit of $500 is required.

Q: Can I try out Kraemforex's platform before depositing real funds?

A: Yes, Kraemforex offers a demo account option, allowing traders to practice and get a feel for the brokerage platform before committing real money.

Q: What is the maximum leverage offered by Kraemforex?

A: Kraemforex provides a high leverage ratio of up to 1:500.

Q: How can I contact customer support at Kraemforex?

A: Kraemforex's customer support can be reached via email at info@kraemforex.com.

Q: Are there different account types available at Kraemforex?

A: Yes, Kraemforex offers two live account options: Standard and VIP.

User Reviews

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Mewtifi
more than one year
So, Kraemforex has some issues you need to know about. First off, they're not regulated, which is kind of a red flag. And, seriously, why won't they spill the beans on the spreads? The company's kinda new, like 1-2 years, which can make you a bit uneasy. Plus, the withdrawal process is a bit of a mystery, and customer support is just through email. Not the best vibe if you ask me.
2023-12-11 18:59
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Nelsonon
more than one year
Hey, Kraemforex is pretty cool for trading! You can start with just $500, and they give you this awesome 1:500 leverage. There's a bunch of stuff you can trade – forex, metals, commodities, and CFDs. They even have Standard and VIP accounts, plus a demo to practice. The MetaTrader5 platform is smooth, and they accept various payment options.
2023-12-08 18:35
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Claire Wong
more than one year
I'm a bit skeptical about Kraemforex due to their lack of valid regulation. It's crucial for me to feel secure with a broker, and the fact that they're not regulated raises some red flags. Also, they don't disclose their spreads, which makes it challenging to assess the true cost of trading with them. The withdrawal process is not clear either, and I'd like to know how long it takes and if there are any fees involved. I wish they had more transparent information. And while the MetaTrader5 platform is excellent, their customer support is limited to email only, which can be frustrating when you need immediate assistance. I'd advise being cautious and considering other regulated brokers before deciding on Kraemforex.
2023-07-19 18:12
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0
0
FX1512874380
more than one year
Kraemforex has been a pretty good experience for me so far. I appreciate the fact that they offer a demo account, which allowed me to practice and get comfortable with their platform before investing real money. The $500 minimum deposit was reasonable for me, and the leverage of up to 1:500 is great for amplifying my gains. I also like the wide range of assets available for trading, including forex, precious metals, commodities, and CFDs. The MetaTrader5 platform is excellent and suits my trading style perfectly. Overall, I'm happy with my trading journey at Kraemforex.
2023-07-19 18:10
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