Rating Index

Pros

Kantox offers a sophisticated online platform tailored for businesses, providing dynamic currency hedging and automation for international payments.

The broker is regulated by the Financial Conduct Authority (FCA) in the UK, adding a layer of credibility and safety for clients.

Kantox has received industry recognition and awards for its innovative technology and solutions, showcasing its commitment to quality service.

Cons

Kantox has a relatively small client base and trading volume compared to larger competitors, which may raise concerns about its market presence and reliability.

The lack of transparency regarding fees and charges on their website can create uncertainty for potential clients, especially after their acquisition by BNP Paribas.

Some reviews indicate that customer service response times may be longer than expected, which could affect user experience during critical trading moments.

Kantox broker Accounts

Kantox Account Type

Kantox offers a range of multi-currency accounts designed for businesses, allowing them to collect, hold, and make payments in various currencies from a single interface. The accounts are available in 29 currencies and come with features such as Kantox-issued IBANs that appear in the companys name, the ability to assign accounts by currency or client, and options to auto-convert funds to save on foreign exchange conversion fees. This structure empowers businesses to manage their cash flow efficiently and cater to clients' preferred payment methods.

Kantox Broker Account Opening Process

Opening a broker account with Kantox involves several steps:

Account Registration: Businesses must start by opening a demo account, which can later be switched to a live trading account.
Documentation Submission: Companies need to provide necessary paperwork, including articles of incorporation, identities of individuals transacting, and certified documentation regarding the companys postal address.
Compliance Verification: Kantox conducts due diligence to ensure compliance with regulatory requirements, including KYC protocols.
Approval Process: The submitted forms are processed, which may take up to 48 hours for approval.
Trading Access: Once approved, businesses can begin trading, with the option to request automatic trading facilities after initial verification.

By following these steps, businesses can efficiently set up their accounts and start managing their foreign exchange operations with Kantox.