KODDPA is a Forex and CFDs Broker, founded in 2024, based in New York. The broker offers a wide range of trading instruments: forex CFDs, commodity CFDs, index CFDs, bond CFDs, digital currencies, stock CFDs, and futures CFDs. As for education, this broker only provides a very general introduction to the advantages of Forex and CFDs trading, and its resource is limited regarding content and in-depth analysis. As for the languages supported, nothing has yet been mentioned by KODDPA. Trading Platform: ST5. The company does not have demo accounts. Leverage: "up to 1:100 ".
Company Background and Regulation Information
Company Background
KODDPA claims its headquarters are located in New York, but upon investigation, we found no registration information about this broker in the National Futures Association (NFA) of the United States.
In addition, their domain (koddpaglobal.com) was registered very recently, on November 11, 2024, which undeniably raises questions about the credibility of the broker.
Regulatory Status
This broker claims to be regulated by the Seychelles Financial Services Authority (FSA) and holds an MSB license, but rather difficult to confirm that. According to the Seychelles Financial Services Authority, the verification procedure under the Seychelles Financial Services Authority's regulatory information is so complex as it requires applications with reasoning from a local or foreign regulatory body or from a person involved in combating financial crime, further complicating the process of confirming its legitimacy.
Further, the MSB license issued to KODDPA by virtue of the United States restricts operations in this country to only certain areas such as Colorado and American Samoa. The limitation with regard to its business coverage raises challenges to fulfill the requirements of a larger international market.
Trading Products and Platforms
Trading Products
KODDPA offers a range of CFD products including forex, commodities, indices, bonds, digital currencies, stocks, and futures.
Trading Platform
KODDPA is an ST5 platform-based investment organization. The major disadvantage of this organization is that they never provide demo accounts to their investors for practicing the way the platform works.
Account Types and Trading Conditions
Account Types
KODDPA has not provided detailed descriptions of account types, which results in a lack of necessary references for users when choosing the right account for themselves.
Leverage and Spreads
KODDPA allows leverage up to 1:100. The company claims that floating spreads on their ST5 and cTrader platforms begin with as low as 0.0 pips. These tight spreads are executed by the quotation of several liquidity providers. The minimum typical spreads can be as low as 0.0 pips under normal conditions.
Educational Resources
The education facilities at KODDPA are very minimal, consisting of only two plain pages about the Advantages of Forex and the Advantages of CFDs, which are not very informative. Even basic educational tools, such as Forex calculators and economic calendars, currently do not have any content whatsoever. The forex news they link to is actually from an external website, Market Watch, further diminishing the professionalism and credibility of their education facilities.
Customer Support and Social Media
Customer Support
Users can contact KODDPA through Live Chat, and it also provides a physical address.
Lack of Social Media
It is concerning that KODDPA has not set up any social media accounts, which is extremely unusual for a forex broker that seeks to expand its influence and gain customer trust.
Deposits and Withdrawals
Deposit Methods
KODDPA offers various deposit methods, including MasterCard, VISA, PayPal, Neteller, UnionPay, Bpay, and others.
Withdrawal Policy
The explanation of the withdrawal channels does not come out clearly but mentions that it can be done through bank transfer, e-payment, or credit card. Indeed, such confused withdrawal policies will easily cast doubt on the safety of their money.
Website Traffic
It receives very limited traffic, as inferred from Ahrefs and SEMrush. The given website has no backlinks and a zero authority score, which corroborates a very meager online influence. Additionally, the organic traffic of KODDPA in searches stands almost on a level that does not make it considerable for many visitors online.
Traffic Distribution by Country
According to Ahrefs, the core country distribution is Russia, Ukraine, Italy, and Indonesia, but the share of traffic in each of these countries is 0%. What is more, in those countries where it is active, according to SEMrush, KODDPA doesn't have any organic traffic sources at all, which again points to poor coverage of this particular crypto asset.
Conclusion
All in all, KODDPA seems to be a newly established and uncontrolled creature with immense problems regarding transparency, where most of the important pieces of information can't be verified. The regulation status, Internet presentation, teaching materials, trading conditions, and even the withdrawal policy-this broker's results are far from impressive in every way. It may indeed be wiser and safer for potential investors to be cautious and avoid this broker altogether.
