Kiexo

Kiexo

Kiexo is a CFD broker that managed to come up with a total of 8 account types but failed to present itself as an honest-working company. All of its stories about the ability to trade with 1500+ assets, the best trading conditions, the most advanced platform, and professional support are nothing more than a beautiful legend. In reality, all a trader can expect is to part ways with their money with no chances of even recovering a portion. Are you in doubt? Read our review, where we have made an effort to convincingly prove that this project is just another scam.

Overview of Kiexo

To assess whether it’s worth dealing with a broker, one should thoroughly and attentively acquaint themselves with all available information about them. Typically, an introduction to a project starts with its history and official website. That’s exactly how we will begin our review.

Broker History

Honest brokers, widely recognized in the trader community, do not aim to conceal information about their history. On the contrary, their PR specialists believe that publishing information about the company’s founding, its stages of development, its achievements, and awards only strengthens the audience’s trust.

Scam brokers avoid such publications. Firstly, their existence is rarely more than a few months, so there is hardly any history to share. Secondly, traders can easily verify any legends. Kiexo also avoided providing details about its registration date and any significant events. The only source that allows determining the time of the company’s creation is the registration number it mentions in the footer of the official website. According to this number, it seems the broker began its operations in 2020. We will verify this information further.

Kiexo.com Website

The broker’s official website leaves a mixed impression. On one hand, its creators tried to make the site as informative as possible, so they filled it with answers to questions, analytical materials, and tools like Pivot Points and Fibonacci calculators.

On the other hand, traders do not use all of this regularly, and when they do, it’s often in a more convenient format. At the same time, it’s impossible to find such essential information on pages as:

• Contract specifications.
• A complete list of trading conditions.
• Characteristics of various account types.
• More detailed descriptions of interesting offers, such as broadcasted signals.

That’s why experienced traders consider Kiexo’s official website a typical creation for a scam broker. It’s these scammers who hide trading conditions to avoid discouraging potential clients during their initial interaction with the official site. Does our review subject fall into this category? Read on to find out.

Registration Process and Personal Account

The process of registering a new client with Kiexo differs advantageously from what most scam brokers practice. To understand this, it’s enough to take a look at the registration form offered to visitors to fill out.

The broker requests to enter:

• First name and last name.
• Date of birth.
• Phone number and email.
• Country of residence and mailing address.
• Account’s currency.

In addition, during registration, it’s necessary to agree to the terms of all available documents, including Terms & Conditions, Privacy Notice, and General Risk Disclosure.

At first glance, Kiexo seems to be doing everything to ensure compliance with the laws of most countries and the requirements of the strictest regulators. However, this impression instantly dissipates once the filled-out form is submitted. Firstly, the broker doesn’t verify the entered contact information. Secondly, the account creation process ends in failure, with an error message prompting contact with customer support.

This practice is not uncommon among scam brokers. During interactions with platform representatives, they determine whether the trader is genuinely willing to invest money and attempt to persuade them to deposit as much as possible. Those who are unwilling to immediately send their funds to scammers are usually politely denied account opening. So, we have another fact that speaks unfavorably for Kiexo.

Naturally, with the broker’s approach to user registration, we were unable to obtain a valid account. Therefore, the organization of the client’s workspace remains a mystery to us. However, it’s unlikely that the project’s specialists managed to impress us with anything extraordinary. The only regrettable part is that we couldn’t see the organization of financial operations and the company’s details.

Trading Platform

Unfortunately, we were unable to see the trading platform without a valid account. However, we still have some questions for the broker. Kiexo advertises mobile versions of KX Trader for iOS and Android on its official website. However, we couldn’t download them without accessing the client’s workspace.

Furthermore, searching in the official Google PlayStore and AppStore did not yield any results. Why didn’t the applications make it there? Perhaps they don’t meet the required criteria? Or perhaps the store owners consider the platform to be fraudulent?

Contacts

All communication channels with Kiexo are duplicated on almost every page of the broker’s official website. The contact information includes:

• Phone: +18008478064.
• Email: en_customercare@kiexo.com.

Traders also have the option to quickly address questions with support through an online chat available on any page.

In the website’s footer, the company even provides a mailing address: Suite 305, Griffith Corporate Center, Beachmont, Kingstown, St. Vincent and the Grenadines. However, this address coincides with the address of several dozens of other brokers, the vast majority of which are fraudulent projects.

Analysis of Services Offered by Kiexo

The more we get acquainted with the project, the more confirmations we receive that we are dealing with a scam broker. Continuing our review, let’s analyze its offerings to traders.

Funding and Withdrawal

We’ve already mentioned that without a valid account, we couldn’t access the organization of non-trading operations and the broker’s details. Kiexo claims that the only acceptable payment methods are:

• VISA/MasterCard transactions.
• Bank transfers.

Unfortunately, here the broker has followed a pattern seen in numerous fraudulent projects. It has not disclosed acceptable transaction amounts, transaction processing times, or the size of commissions.

Trading Conditions

However, when it comes to account types, the platform’s creators were able to express their creativity fully. In a rather interesting twist, traders will have to choose from 8 tariff plans. Kiexo is confident that the only differences in trading conditions should be in the deposit amounts and access to various market assets. The list includes:

• Newbie, where you only need to deposit $250 and you get an account with access to a limited range of trading instruments.
• Explorer. You’ll need a balance of at least 10,000 USD to gain access to trading indices and commodities.
• Trader. A deposit of at least 30,000 USD is required to trade stocks.
• Trader Pro. For access to an extended range of stocks and currency pairs, you’ll need to deposit at least $100,000.
• Expert. With just $500,000, a trader can customize their portfolio of assets for trading.
• Expert Pro. Access to thousands of instruments and even the use of an Islamic account is available if you deposit at least 1,000,000 USD.
• VIP. To take advantage of almost limitless opportunities at Kiexo, you’ll need a mere $5,000,000 in your account.

Kiexo also offers a VIP PRO account. Traders are promised numerous advantages, but how to obtain such an account is not disclosed – they suggest chatting with a company representative.

However, the actual trading conditions for any account type remain undisclosed. The project employs a well-known trick used by scammers – they talk about some illusory advantages to pique the interest of an inexperienced trader, and the trader will have to study the trading conditions on their own after making a deposit. Even if the client doesn’t like them, it will become the client’s problem – no one intends to refund their money.

Is Kiexo Trustworthy and Reliable?

In practically every case we’ve examined, the broker uses the techniques and methods commonly associated with fraudsters. It’s becoming increasingly difficult to convince us of the project’s legitimacy. Nonetheless, to complete the analysis, we need to review the official information about the platform.

Assessing Legitimacy

As for registered address in Saint Vincent and the Grenadines, we have already discussed it. Moreover, Kiexo even provides a registration number – 475 LLC 2020. It indicates that the company was registered in 2020. These are indeed interesting details, but what interests us more is whether the broker is included in the registry of the local financial regulator. Although it doesn’t license the activities of Forex and CFD brokers, it does acknowledge them as providers of financial services.

Unfortunately for Kiexo, the search in this registry did not yield any results. For a registered company, this can only mean one thing – its entry has been excluded due to non-compliance with the regulator’s new requirements. Since March 10, 2023, brokers were required to provide licenses to operate in jurisdictions where they conduct business.

An exception is possible if such licenses do not exist. It seems that Kiexo falls into this category. This means it operates without regulator licenses and, as a result, provides brokerage services illegally (or more accurately, does not provide them at all but only simulates trading).

Established Track Record

All that remains is to check how long this pseudo-broker has been present in the market. To do this, we will use data from the Whois service.

The domain has been registered for quite some time, back in 2016. However, web archive snapshots show that the Kiexo website appeared in 2020. This aligns with the year of the company’s registration but is somewhat surprising. How could a project that now operates as a fraudulent broker have persisted for so long?

Implications for Traders

We believe that traders should not risk and entrust their money to Kiexo. The company, despite publishing a registration number offshore, operates without licenses, significantly increasing the risk for clients. Additionally, it uses many techniques on its official website that are characteristic of scam projects.

Strengths and Weaknesses