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No Regulation
Score
2.45 /10
Danger
FXKM
5-10 yearsSuspicious Regulatory License
Suspicious Scope of Business
Australia Appointed Representative(AR) Revoked
High potential risk
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Comparison
Expose
Exposure
Open Account
Website
Score
Regulatory Index0.00
Business Index7.33
Risk Management Index0.00
Software Index4.00
License Index1.80
Open Account
Website
Licenses
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
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Warning: Low score, please stay away!
3
Previous Detection :
2024-09-24
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- AustraliaASIC (license number: 001280042) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
WikiFX Verification
General Information& Regulation
FXKM is an online broker registered in Australia, providing a series of financial assets. FXKM is not a recommended broker, as it is not under certain stringent regulation, and it currently holds an authorized representative license from ASIC (regulation number: 001280042), which only means it can conduct business in Australia.
Market Instruments
Tradable financial assets available on the FXKM platform are currency pairs, CFDs on commodities, CFDs on indices, spot metals and stock CFDs.
Minimum Deposit
There seem no several account options offered by FXKM, neither the minimum deposit requirements is mentioned. There is only an account-opening portal like this:
FXKM Leverage
FXKM claims it offers a flexible leverage from 1:1 to 1:2000, and traders can choose the appropriate trading leverage in light of their risk tolerance. However, keep in mind that leverage may increase your profits but also double your risks.
Spreads & Commissions
The FXKM website announced that it can offer tight spreads, with the spread on EURUSD from 0.1 pips. However, since FXKM is an unregulated broker, then it almost cannot happen, and this maybe a trick to attract new investors.
FXKM Trading Platform
FXKM offers two trading platform options, famous MetaTrader4&5 trading platform. The MetaTrader 4 platform offers easy-to-read, interactive charts that allow you to monitor and analyse the markets in real-time. Traders can also have access to more than 30 technical indicators which can help them identify market trends and signals for entry and exit points. MetaTrader 5, better known as MT5, is the latest and most advanced online trading platform developed by MetaQuotes Software. Trading on MT5 via EA Market gives traders even broader access to financial markets including foreign exchange, commodities, CFDs and indices as well as stocks and futures.
Deposits & Withdrawals
The FXKM website displays some payment methods logos, including wire transfer, FasaPay, Thunderx Pay, Visa, Mastercard, American Express and PayPal.
Customer Support
The FXKM customer support can be reached through email and telehone, unfortunately, live chat communication unvailable.
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