KVB Kunlun Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this KVB Kunlun Review.
KVB Kunlun Review
The broker offers its clients a choice of two account types, a Standard and Mini one. The Standard account is commission-free, while a small commission applies to the Mini one, where micro lots are available for trade. Both account types offer a maximum leverage of 1:200 and variable spreads.
Of course, a free Demo account is also available, which is always appreciated by newbies.
The Company
KVB Kunlun is a brand of KVB Kunlun Financial Group, offering trading in over 30 different currency pairs, precious metals, and various global stock index and commodity CFDs. Established in Hong Kong, nowadays the group has global reach with offices in Toronto, Auckland, Sydney, Melbourne and Hong Kong,
KVB Kunlun Group includes many subsidiaries, licensed and supervised by the respective government regulators in New Zealand, Australia and Hong Kong.
KVB FX Pty Limited is the Australian-based subsidiary of KVB, regulated by the Australian Securities and Investments Commission (ASIC), and KVB FX Limited is licensed by the Financial Markets Authority (FMA).
Security of Funds
As we have already mentioned, KVB Kunlun is primarily a Hon-Kong-based broker. KVB Kunlun International (HK) Limited, operating as KVB Kunlun, holds a license from the Hong Kong Securities and Futures Commission (SFC).
This is the regulatory body responsible for registration and supervision of Hong Kong broker firms. The SFC licensing procedure is a long and complicated one, involving submission of various documents, fit and proper test for officials representing the firm, and maintaining adequate accounting and control systems.
What is more, the applicant must maintain a minimum paid-up share capital and liquid capital of HK$5 million and should keep adequate accounting and control systems.
Trading Conditions
Minimum Initial Deposit
KVB Kunlun requires a minimum initial deposit of $1000, which is a considerable amount, as most FX brokers usually demand $100 – $250.
Average Spreads & Commissions
KVB Kunlun provides variable spreads, which are relatively high for the forex market: the average ones on EUR/USD amount to around 2.1 pips on EUR/USD. In comparison, leading global broker FXCM provides spreads as low as 0 pip on EUR/USD, incurring commission of $4 per standard lot traded.
For further information, you may check out real-time spreads of 15 leading brokers here.
Maximum Leverage
This broker offers leverage up to 1:200 for all major currencies, which is the industry’s standard. If you need higher leverage levels, many brokers offer such: FxPro – up to 1:500, XM – up to 1:888. A list of more brokers offering leverage equal to or exceeding 1:500 may be viewed here.
Traders, however, should be mindful of high leverage, for it may lead to substantial losses exceeding their initial investments.
Trading Platforms
KVB Kunlun offers its clients their customized version of the renown MetaTrader 4, called ForexStar 4. “ForexStar” was launched in 2003 as the first bilingual (English and Chinese) supported online trading platform in the Australasian region. It combines, a user-friendly interface, multiple currency pairs charting, real time account information, a variety of professional technical analysis indicators and risk management function.
Payment Methods
Clients KVB Kunlun may use the following payment methods: credit/debit card, bank wire or telegraphic transfer.
Popular e-wallets like Skrill, Neteller and Webmoney, used by most FX brokers, are not accepted with this one.
KVB Kunlun is a global broker, holding multiple licenses, which offers reasonable conditions for trading in forex, CFDs and precious metals.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
KVB Kunlun Review Conclusion
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