Kyros is a forex broker that was registered in the United States in March 2023, primarily offering financial trading services in forex, indices, precious metals, energy, and cryptocurrencies to investors. Kyros does not disclose its headquarters, and the broker supports the opening of both real and demo accounts, and has developed its own trading platform.
Corporate Background and Regulatory Status:
Kyros's corporate entity is Kyros GROUP LIMITED. The broker claims to be regulated in the United States and holds a Money Services Business (MSB) license. However, Kyros's official website does not disclose its FinCEN MSB registration number, and no regulatory records related to UOBE FX GLOBAL LIMITED can be found on the official MSB website in the United States. Additionally, Kyros's website domain was registered on March 2, 2023, making it less than a year old.
Note: The mission of FinCEN is to protect the financial system from unlawful use, combat money laundering and related crimes (including terrorism), and promote national security through strategic use of financial authorities and the collection, analysis, and dissemination of financial intelligence, but it does not regulate forex trading and commercial activities.
How to Open an Account?
To open an account with Kyros, first, go to its official website and click “Register” to enter the broker's proprietary trading platform. At the top right corner of the trading platform, click “Register” again to sign up for an account. During registration, you'll need to fill out your name, personal email, phone number, verification code, and set a login password. The broker sends a verification code via email. Once submitted, you can log in. To deposit or withdraw funds and trade, real-name verification is required after logging into the trading platform.
Investors should be cautious: the account opening link redirects to a warning page about dangerous websites, which might lead to unsafe websites with security vulnerabilities, potentially resulting in information leaks or other security issues. In such cases, investors should immediately cease accessing such links and stay away from related websites. It is advisable for investors to use only official and trusted channels for investment and to ensure that the platforms used are regulated.
Account Types:
Kyros supports the opening of both real and demo accounts, but detailed information related to trading accounts is not disclosed on its official website. On its Frequently Asked Questions page, the broker states it offers floating spreads as low as 1 pip, with available trading leverage ranging from 1:100 to 1:500. Details such as the minimum deposit, trading commissions, margin call levels, stop-out levels, and minimum trade volume are not explicitly published.
Trading Platform:
Kyros provides a proprietary trading platform that offers trading services for various financial products. However, currently, there is a lack of information about the software's download link and compatible versions.
Proprietary platforms may face technical and security issues, such as system crashes, delayed transaction execution, inaccurate data, potential network attacks, data leaks, and malicious software attacks, which can threaten the safety of investors' accounts and personal information. This could negatively impact investors' trading activities.
Deposit and Withdrawal:
Kyros's official website does not disclose specific deposit and withdrawal methods. When logging into its trading platform, it is found that it only offers two methods for depositing and withdrawing funds: cryptocurrencies and bank cards.
Website Design:
Kyros's website design has a high degree of similarity with several other websites, such as BDSU EX, SV Markets, ABHKFX, DEOASIS PTY LIMITED, and more, sharing many similarities.
Investors should remain vigilant, and before considering using or trading on these platforms, they should conduct thorough research and investigations. Ensure that the chosen platform is legally regulated and avoid being affected by potential fraudulent activities.
Customer Support:
Users can obtain customer support from Kyros via email. It is recommended for users to provide clear and detailed information in emails, to help the customer support team understand and resolve the issues better. Besides email, there are no other contact methods or online support options listed on its official website.
Summary:
Kyros is a US forex broker suspected of fraud, with a short time since its registration. Kyros is not regulated by any regulatory body, uses a proprietary trading platform, and has limited contact methods. Kyros shares highly similar website designs with UOBE FX, BDSU EX, ABHKFX, DEOASIS LIMITED, VLC Trade LLC, OBV Trade MT5, and other brokers, suggesting these websites might be using the same template. Traderknows advises investors to stay away from this platform to avoid unnecessary financial losses.
Currently, Kyros is marked as "Suspected of Fraud" on Traderknows.
