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Rating Index

Pros

Offers a variety of account types, including mini, standard, and ECN accounts, catering to different trading preferences and capital levels.
Low minimum deposit requirement of $200 for mini and standard accounts, making it accessible for beginner traders.
Utilizes the widely recognized MetaTrader 4 platform, providing a user-friendly interface and advanced trading tools.

Cons

Limited regulation, as it is only regulated by the FSPR in New Zealand, which may raise concerns for some traders regarding security and oversight.
Customer service ratings are low, indicating potential difficulties in obtaining support when needed.
Variable spreads and commission costs may not be as competitive as those offered by other brokers, impacting overall trading costs.

KRC Company

KRC Forex Broker - Complete Information Guide

1. Broker Overview

KRC, officially known as KRCNZ and KRC Group, is a forex broker that commenced operations in 2009. The company is headquartered in New Zealand and has established offices in Hong Kong and Brunei. KRC operates as an independent broker and is not publicly listed, which allows it to maintain a flexible operational structure. The broker primarily serves retail traders and institutional clients, providing a range of forex trading services tailored to meet the diverse needs of its clientele.

Since its inception, KRC has aimed to create a robust trading environment by offering various account types, including mini, standard, and ECN accounts. The broker has made significant strides in enhancing its service offerings and technology infrastructure, focusing on providing a user-friendly trading experience. Throughout its history, KRC has been committed to transparency and customer satisfaction, marking several milestones in its development, including the enhancement of its trading platform and the expansion of its product offerings.

As a forex broker, KRC operates under a business model that emphasizes retail forex trading, catering to individual traders seeking access to the foreign exchange market. The company has positioned itself as a reliable intermediary, facilitating trades and providing essential tools and resources for successful trading.

2. Regulatory and Compliance Information

KRC is regulated by the Financial Service Providers Register (FSPR) in New Zealand, which offers a level of oversight, albeit limited compared to more stringent regulatory frameworks. The broker also adheres to the Financial Dispute Resolution (FDR) scheme, providing additional consumer protection.

  • Regulatory Bodies:
  • FSPR (Financial Service Providers Register, New Zealand)
  • FDR (Financial Dispute Resolution)

KRC's regulatory license is essential for maintaining operational integrity and ensuring compliance with local laws. The broker's registration number with the FSPR is available for verification, showcasing its commitment to regulatory compliance.

KRC implements strict Know Your Customer (KYC) and Anti-Money Laundering (AML) measures to prevent fraud and ensure that client funds are handled securely. The company maintains a policy of segregating client funds from its operational funds, ensuring that client assets are protected in the event of financial difficulties.

3. Trading Products and Services

KRC offers a diverse range of trading products, primarily focusing on forex trading. The broker provides access to 56 currency pairs, including major, minor, and exotic pairs. In addition to forex, KRC has incorporated trading options for precious metals such as gold and silver.

  • Forex Currency Pairs: 56 pairs, including major and exotic currencies.
  • CFD Products: While KRC focuses mainly on forex, it also offers trading in precious metals.
  • Unique Trading Offerings: KRC does not currently provide CFDs on indices, commodities, or cryptocurrencies, focusing instead on its forex offerings.

The broker is committed to regularly updating its product lineup to meet the evolving needs of its clients, although specific information regarding new product introductions is not readily available.

4. Trading Platform and Technology

KRC utilizes the widely recognized MetaTrader 4 (MT4) platform, which is available in various formats, including desktop, mobile (iOS and Android), and web-based versions. This platform is known for its user-friendly interface, advanced charting tools, and automated trading capabilities.

  • Supported Platforms: MetaTrader 4 (MT4) for desktop and mobile.
  • Execution Model: KRC operates on an ECN/STP execution model, allowing for direct market access and competitive spreads.
  • Server Infrastructure: The broker's trading servers are located in secure data centers, ensuring reliable connectivity and minimal latency for traders.
  • API Access: KRC supports API connectivity for automated trading solutions, catering to algorithmic traders.

KRC's technological framework is designed to provide a seamless trading experience, enabling traders to access the markets efficiently.

5. Account Types and Trading Conditions

KRC offers several account types tailored to different trading preferences and experience levels. The minimum deposit requirement for all account types is set at $200, while the ECN account requires a minimum deposit of $2,000.

  • Standard Account Conditions:

  • Minimum Deposit: $200

  • Spreads: Variable, with the lowest spread on EUR/USD starting at 0.1 pips.

  • Commissions: Yes, applicable on certain accounts.

  • Advanced Account Types:

  • ECN Account: Minimum deposit of $2,000, designed for high-frequency traders and scalpers.

  • Special Accounts:

  • KRC does not currently offer Islamic accounts or specialized corporate accounts.

  • Demo Account Policy: KRC provides demo accounts for traders to practice without financial risk, although specific details on the demo account's features were not available.

Leverage is offered at a maximum of 200:1 for standard accounts, allowing traders to amplify their trading positions.

6. Fund Management

KRC supports various deposit and withdrawal methods to facilitate seamless transactions for its clients. The minimum deposit requirement for all account types is $200, ensuring accessibility for new traders.

  • Supported Deposit Methods:

  • Bank Wire Transfers

  • Credit and Debit Cards

  • E-Wallets (Skrill, PayPal)

  • Withdrawal Methods:

  • Bank Wire Transfers

  • E-Wallets (Skrill, PayPal)

Deposits are typically processed within one business day, while withdrawals may take longer, depending on the method chosen. KRC does not charge fees for deposits, but withdrawal fees may apply depending on the payment method used.

7. Customer Support and Educational Resources

KRC offers a range of customer support options to assist traders with their inquiries and issues. The support team is available via multiple channels, ensuring clients can receive timely assistance.

  • Support Channels:

  • Email: info@krcfx.com

  • Phone Support

  • Live Chat on the website

  • Service Hours: KRC provides support during business hours, with specific time zone coverage for its operating regions.

  • Language Support: The broker offers support in multiple languages, catering to its diverse client base.

KRC also provides educational resources, including webinars, tutorials, and market analysis, to help traders enhance their skills and knowledge. Regular market insights and research reports are made available to clients, supporting informed trading decisions.

8. Regional Coverage and Restrictions

KRC primarily serves clients in New Zealand, Hong Kong, and Brunei, with a focus on the Asia-Pacific region. However, the broker does not accept clients from certain countries, including the United States.

  • Primary Service Markets: New Zealand, Hong Kong, Brunei, and select Asia-Pacific countries.
  • Regional Offices: Offices located in Hong Kong and New Zealand.
  • Countries Not Accepted: KRC does not accept clients from the United States and other restricted jurisdictions.

The brokers regional strategy is designed to align with its operational capabilities and regulatory requirements, ensuring compliance with local laws and regulations.

This comprehensive guide provides essential insights into KRC as a forex broker, detailing its operations, regulatory status, trading offerings, and customer support mechanisms. By understanding KRC's services and conditions, traders can make informed decisions about their trading activities.