KMDFX is a forex broker that was officially registered on September 24, 2021, providing forex trading services to investors. The company's headquarters address is not disclosed. The broker does not offer services to jurisdictions where it may violate local laws or regulations, including but not limited to Turkey, the United States, and the United Arab Emirates.
Corporate registration information and regulatory status:
KMDFX's official website indicates that its registered entity is KMD FX Ltd, with a company address at 68 Bramah House, 9 Gatliff Road, London SW1W 8DQ. However, specific registration information is not disclosed. During the investigation, a similarly named company registered in the UK was found, and its registered address matched the one provided on the broker's official website.
In the "Privacy Policy" section on its website, the broker is identified as a Kuwaiti company, Kuveyt Menkul Limited, with an address at Khaled Ibn Al Waleed Street, Al Dhow Tower, 13th Floor, Sharq, Kuwait City. Additionally, the broker's website claims to have obtained an FSCA license. However, verification with the Financial Sector Conduct Authority (FSCA) in South Africa revealed no information about the broker, indicating false advertising. Furthermore, some navigation pages on KMDFX's website are blank without content.
Account Opening:
To open an account with KMDFX, users are instructed to fill out the registration form on the broker's website. However, in practice, after submitting the registration, it consistently redirects back to the original registration page, preventing successful registration.
Account Types:
KMDFX offers users a demo trading account and four different types of real trading accounts: Standard, Gold, VIP, and Platin. Specific account information is not disclosed on its official website.
Trading Platform:
In KMDFX's "Terms and Conditions," it is stated that "all accounts opened with the authorized brokerage company and all transactions made through this account will be recorded through the Meta Trader 5 platform." However, the trading platform navigation page on its website is blank, and the MT5 trading platform associated with this broker cannot be found.
Deposits and Withdrawals:
The broker's official website does not mention the supported methods for deposits and withdrawals.
Customer Support:
Users can contact KMDFX for customer support through phone at +972 3 7621622, email at info@kmdfx.com, and the online contact form on the broker's website.
Summary:
Traderknows advises investors that KMDFX has opaque corporate registration information and lacks authorization and regulation from any official financial regulatory authority. It is recommended that investors stay away from this platform when choosing a trading platform. It is advised to opt for platforms with transparent information, effective regulation, and a good reputation to avoid unnecessary financial losses. Currently, the broker is marked as "suspected fraud" on Traderknows.
