Kaspitrade Review – Is Kaspitrade a scam or a legit broker?
We do not recommend doing business with Kaspitrade due to its lack of credibility. Many of the qualities associated with this broker are typically seen in fraudulent trades. Upon review, we found numerous reasons why you should avoid this broker. A major sign that they are fraudulent is the leverage they claim to offer, which is not permissible for UK-regulated brokers such as LBLV.
Website – http://kaspitrade.info/
Website Availability – No
Address – United Kingdom
Warned By – Not Recommended By Review Website Like Scam Bitcoin
Ensure your protection from potential pitfalls by acquainting yourself with our in-depth Kaspitrade review.
Questionable Location and Regulatory Compliance of KaspiTrade
We should point out that although KaspiTrade provides a phone number with a British area code, we do not know where they are actually located. We can say for certain that the broker is not located in England as they claim. Additionally, there is no evidence of KaspiTrade being registered with the FCA (the financial regulator of the UK) because they fail to abide by the maximum leverages imposed on retail traders – 1:30. It must be noted that KaspiTrade never lies about having such authorization either.
Kaspitrade’s Proprietary Platform: Lack of Transparency and Potential Risks
Kaspitrade utilizes a proprietary web-based platform, however, not much data is available regarding its trading capabilities. As such, it is not recommended to rely on custom platforms due to the potential lack of assurance in performance or worst case scenarios: brokers manipulating prices or fraudulently using them for their own gain.
Dubious Initial Deposit Requirements and Limited Flexibility
Kaspitrade requires a substantial initial deposit of $500, which exceeds the amount required for regulated brokers ($10 to $100). This is an indication that Kaspitrade lacks transparency and honesty. What’s more, the minimum additional amount you can place into your account after the initial deposit is $250, while legit brokers let their customers decide how much they want to add without limits. All these facts demonstrate that Kaspitrade has a malicious intent and is likely not reliable.
Kaspitrade’s Leverage and Spreads
Kaspitrade provides a leverage ratio of 1:200, which surpasses the limit of 1:30 mandated by FCA-regulated brokers. Such an elevated leverage can pose a high risk and lead to losses up to 200 times your initial investment or even debt towards the broker. US and Canadian regulators consequently restrict their brokers to no higher than 1:50. In terms of spreads, Kaspitrade offers 4 pips spread for the EUR/USD pair and they can possibly reach 8 pips. This is way above the industry standard of 1 pip, making it a risky choice with serious repercussions as regulated brokers do not offer such high rates.
Kaspitrade Review – Conclusion
In conclusion, the Kaspitrade review reveals troubling evidence that raises serious concerns about the broker’s legitimacy. Potential clients should exercise extreme caution and consider alternative, more regulated and transparent brokers to protect their investments and financial well-being. It is crucial to conduct thorough research and remain vigilant to avoid falling prey to potential scams in the financial market.
Recover from Kaspitrade Scam with Scam Bitcoin’s Dedicated Support
Based on the substantial evidence provided in this comprehensive Kaspitrade review, it is apparent that this broker is engaged in fraudulent activities. If you have fallen victim to the Capital Expert Trade scam, we encourage you to promptly contact Scam Bitcoin for expert assistance in recovering your funds. Our highly committed team is dedicated to supporting scam victims and offers a free consultation to evaluate your situation and provide guidance throughout the recovery process. Don’t suffer in silence; take decisive action today, and let us stand by your side to help you reclaim your funds and pursue justice against unscrupulous entities like Kaspitrade.
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