KENFORD foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://trader.kenfordglobal.com/register, about the company's legal and temporary regulatory information, the company's address .
KENFORD Forex Broker
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Offers a range of trading instruments including over 80 forex currency pairs, commodities, and indices. Utilizes popular trading platforms like MT4 and MT5, which are widely recognized in the trading community. Provides access to high leverage options, allowing traders to maximize their potential returns.
Lacks valid regulatory oversight, raising concerns about the safety and security of client funds. Reported issues with hidden fees and high withdrawal costs, which can lead to unexpected expenses for traders. Negative reviews highlight poor communication and difficulties in withdrawing funds, indicating potential operational risks.Basic Information
China
Kenford Broker - Complete Information Guide
1. Broker Overview
Kenford, officially known as Kenford Global, is a forex brokerage firm that has been operating for approximately 2 to 5 years. The company is headquartered in China and primarily serves retail clients interested in forex and CFD trading. Kenford operates as a private entity and has developed a business model that focuses on providing trading services across various asset classes, including forex, indices, commodities, and metals.
The firm has made significant strides in establishing its presence in the forex market, although it lacks regulatory oversight. Kenford's journey has been marked by the introduction of trading platforms that cater to both novice and experienced traders. It is essential to note that the company has faced numerous complaints regarding its trading practices, including issues related to withdrawal difficulties and price manipulation.
Kenford broker operates primarily in the retail forex trading space, offering clients access to a range of trading instruments. Despite its relatively short history, the company has garnered attention in the trading community, particularly due to the controversies surrounding its operations.
2. Regulation and Compliance Information
As of the latest available data, Kenford broker operates without any valid regulatory licenses. This lack of oversight is a significant concern for potential clients, as it exposes them to various risks associated with unregulated trading environments. According to multiple sources, including WikiFX, there is no credible regulatory body overseeing Kenford's operations, which raises red flags regarding the safety and security of client funds.
The absence of a regulatory framework means that Kenford does not have a regulatory number or any effective oversight on its trading practices. Furthermore, the company does not participate in any investor compensation schemes, which typically provide a safety net for clients in the event of broker insolvency.
Kenford claims to implement KYC (Know Your Customer) and AML (Anti-Money Laundering) measures, but the effectiveness of these policies cannot be verified due to the lack of regulatory scrutiny. Clients should be cautious and conduct thorough research before engaging with Kenford broker, as the absence of regulation significantly increases the risk of fraud and malpractice.
3. Trading Products and Services
Kenford broker offers a diverse range of trading products, primarily focusing on forex currency pairs. The brokerage provides access to numerous currency pairs, including major, minor, and exotic pairs, catering to various trading strategies and preferences. In addition to forex, Kenford offers Contracts for Difference (CFDs) on various asset classes, including:
- Indices: Access to major global indices for trading.
- Commodities: Trading in commodities such as oil and gold.
- Stocks: CFDs on selected stocks from various markets.
- Cryptocurrencies: Limited access to cryptocurrency trading options.
The company frequently updates its product offerings, although specific details regarding the frequency and nature of these updates are not clearly outlined in public information. Kenford primarily focuses on retail trading services, but there may be limited offerings for institutional clients.
Moreover, Kenford broker provides white-label solutions for other brokers, allowing them to utilize Kenfords trading infrastructure under their brand. This aspect of their business model enables them to expand their reach in the competitive trading environment.
4. Trading Platforms and Technology
Kenford broker supports both MetaTrader 4 and MetaTrader 5 platforms, which are widely recognized in the trading community for their robust features and user-friendly interfaces. These platforms allow traders to execute trades efficiently and analyze market trends through advanced charting tools.
In addition to the popular MT4/MT5 platforms, Kenford may offer a proprietary trading platform, although specific details about its features and capabilities are not extensively documented. The broker also provides a web-based trading platform, enabling clients to trade directly from their browsers without the need for software installation.
For mobile trading, Kenford offers applications compatible with both iOS and Android devices, ensuring that clients can manage their trades on the go. The execution model employed by Kenford includes ECN (Electronic Communication Network) and STP (Straight Through Processing), which are designed to enhance order execution speed and reduce slippage.
Kenford broker has invested in technological infrastructure, with servers located in strategic regions to optimize trade execution and minimize latency. Additionally, API access is available for clients interested in automated trading solutions, enhancing the trading experience for algorithmic traders.
5. Account Types and Trading Conditions
Kenford broker offers various account types to cater to different trading needs and preferences. The standard account conditions include:
- Minimum Deposit: Varies by account type, with details not explicitly stated in available sources.
- Spreads: Competitive spreads are offered, although specific figures are not disclosed.
- Commission: Commission structures are not clearly defined in public information.
Advanced account types, such as VIP or professional accounts, may be available, providing enhanced trading conditions and benefits. The broker also offers special accounts, including Islamic accounts for clients adhering to Sharia law.
For traders looking to practice their strategies, Kenford provides demo accounts, allowing users to familiarize themselves with the trading platform and market conditions without financial risk. Leverage ratios offered by Kenford vary depending on the asset class, with higher leverage available for forex trading.
The minimum trade size is generally set at 0.01 lots, accommodating both small and large traders. Additionally, Kenford has policies regarding overnight fees, which are typically applied to positions held beyond the trading day.
6. Fund Management
Kenford broker supports a range of deposit methods to facilitate client funding, including:
- Bank Transfers
- Credit Cards
- E-Wallets (specific options not detailed)
The minimum deposit requirements vary by account type, with specific amounts not disclosed in available sources. Deposit processing times are generally immediate for credit card and e-wallet transactions, while bank transfers may take longer.
Kenford does not clearly outline any fees associated with deposits, leading to potential concerns about hidden costs. Withdrawal methods include bank transfers and other unspecified methods, with restrictions on withdrawal amounts not explicitly stated.
The processing times for withdrawals can vary, with some clients reporting significant delays. Fee structures for withdrawals are also not clearly defined, which may lead to unexpected charges for clients.
7. Customer Support and Educational Resources
Kenford broker provides multiple support channels for clients, including:
- Phone Support
- Email Support
- Live Chat
- Social Media Channels
The customer service hours and time zone coverage are not explicitly stated in available sources, which may affect client accessibility. Additionally, Kenford offers multilingual support, although specific languages supported are not listed.
In terms of educational resources, Kenford broker provides a variety of materials aimed at enhancing client knowledge, including:
- Webinars
- Tutorials
- E-books
Market analysis services are also available, offering clients daily analysis, news updates, and research reports to assist in informed trading decisions. Various trading tools, such as calculators and economic calendars, are provided to enhance the trading experience.
8. Regional Coverage and Restrictions
Kenford broker primarily serves clients in various regions worldwide, although specific markets are not detailed in the available information. The company has regional offices in China, which serve as its main operational hub.
Certain countries and regions may be restricted from accessing Kenford's services, although specific locations are not mentioned in the available data. It is crucial for potential clients to verify their eligibility based on local regulations before engaging with the broker.
Additionally, any special restrictions or limitations on trading activities are not clearly outlined, which could affect prospective clients' decisions.
In conclusion, while Kenford broker offers a variety of trading products and services, the lack of regulatory oversight and transparency raises concerns for potential clients. It is essential for traders to conduct thorough research and consider the associated risks before engaging with this brokerage.
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FX2670002193
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I have 4.5k usd inside, broker said site is having maintenance but cant enter at all. cant find their name in mt4 too.careful, broker name is rita, either will contact u by whatsapp or wechat.
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FX2313664427
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There is also some money in my account. No customer service
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FX3870698425
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On January 22, 2021, the account was disabled, and the trader may have absconded
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tmdkenford
Taiwan
Through Ig, an overseas Chinese from Singapore took the initiative to chat with me. Later, I added a Line conversation and talked about MT4 as an investment product. I was afraid but then I asked my colleagues to confirm that there was such an investment, so I actually recommended it to the overseas The analysts practiced with a simulated warehouse first, and they all made about 10% while doing their homework through the Internet, and believed that they could really invest and make money. At the beginning, they only deposited $1,000, made a profit of $500 and can withdraw $100. The analyst suggested that it is not easy to liquidate the position after entering 10,000 US dollars. I also told him that he has difficulties. The extra money can be invested every month. When I accumulate US$ 6,300, I will talk to the analyst for how many dollars I can trade, and I have also asked Whether there is a risk of liquidation in the customer service, the other party said that there is an automatic liquidation function, but the position was liquidated in the last transaction. Loss of 11312.47 US dollars. Some analysts with overseas Chinese. Kenford dealers have always blamed me for not depositing 10,000, which is obviously a kidnapping fraud. Good risk has not been deceived a second time. Reported to the local police station
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2020-12-20
tmdkenford
Taiwan
I followed the analyst but my positions were wiped out. I asked them whether I can close my positions or not and they said yes. However, my positions were wiped out and they just passed teh buck to each other! And they told me to add more money and I can win my money back soon. I’m not foolish. If you have the time to scam people, why don’t you just earn money legally? Karma is like fate. You’ll be unished one day!
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2020-12-09
gustavo_fring
Malaysia
I've been a client of this broker only for a few weeks. My trading went smoothly ever since i opened an account with thebroker until recently. If you refer to the photo attached below, you can make a comparison of between the broker's chart and a different broker's chart. After i made a new deposit due to their interesting bonus, my position was liquidated out of nowhere. At that time, I placed the orders according to the signals given by the adviser (to sell 30 lots at 1,912.49). But the platform automatically closed my position soon after I noticed that the candles suddenly rose to 1,919.06. I was surprised and had a vague feeling that there was something wrong with the platform's data, which seemed like being manipulated. Therefore I compared it with the highs on other platforms in the same period and found that the later ones only ranged between 1,913 and 1,914. The KENFORD responded that “the reason for difference in the price vs other platforms is that there is a huge inflow of trade at that period.” This explanation, however, doesnt make sense at all as high liquidity will only keep prices stable rather than volatile.
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2021-09-15