KINGDOM FOREX Review Scores
KINGDOM FOREX
www.kingdomforex.com
Overall Score: 1.9 / 5
Total Votes: 3
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KINGDOM FOREX Discussion
WhyLose

Member Since Feb 16, 2010  102 posts Lion Asset Management (WhyLose) Jul 10 2010 at 06:50
I just commented on the Mini Hedge Fund Discussion at https://bit.ly/cAW7m8. FYI I reproduce the post below.

'I see that your broker operates from the UK and US. Are you aware that their UK address is a maildrop? Nothing wrong with that of itself but what is cause for concern is that there are only two registered FSA firms at that address as you can see at https://bit.ly/c7iwtM and neither are Kingdom Forex.

When you combine both elements my conclusion is I would not place funds there and I would be interested in knowing your reasons for choosing this broker.

Of note also on their very attractive website is they do also appear to be a little confused at to where they have offices. On the FAQ they state they only have headquarters in Las Vegas but their Contact page clearly shows their maildrop address.'

Time is more valuable than money. You can get more money, but you cannot get more time.
WhyLose

Member Since Feb 16, 2010  102 posts Lion Asset Management (WhyLose) Jul 10 2010 at 06:56
The link expires so if you wish to search their lack of UK FSA authorisation simply search their post code of W1D 2EU at https://bit.ly/c7iwtM

Time is more valuable than money. You can get more money, but you cannot get more time.
WhyLose

Member Since Feb 16, 2010  102 posts Lion Asset Management (WhyLose) Jul 10 2010 at 07:55 (edited Jul 10 2010 at 07:59 )
Further to my conversation with Smart Investor (ical) who uses this broker at https://bit.ly/cAW7m8 I'll comment further on the broker here at so as not to distract users on his system page.

I note that 'Client funds do not go on deposit with Kingdom Forex directly' which is positive.

But the fact seems to remain that they still need to be registered with the UK FSA if they wish to attract UK clients as clearly they do. There is a common list of excluded countries and the UK is not amongst that list at https://bit.ly/a3xn8B. The directors of Kingdom Forex may be guilty of a criminal offence under UK law unless they are regulated somewhere else in the EU which does not appear to be the case.

In fairness Smart Investor (ical) wrote he uses this broker because it has an 'MT4 ECN model, I like the spreads and commission, they are best with, never trouble with withdraw and deposit about a year, and I realize Kingdom is still growing.'

Personally, I would not open an account with Kingdom Forex because they are NOT registered with the UK FSA.

I would invite comments from the company to correct me on any point if they wish.


Time is more valuable than money. You can get more money, but you cannot get more time.
ical

Member Since Oct 24, 2009  23 posts Smart Investor (ical) Jul 10 2010 at 10:41
https://www.kingdomforex.com/kingdom-forex-and-futures-regulations.php

I think this can explain about, and indeed, where ur deposit is ur personal choice. I also have account with fxcm uk, migbank, fxopen etc. I withdrew my accounts from interbank and fxdd /USA based brokerage, coz NFA issues on hedging restriction and FIFO rules etc. but like I said they / kingdom I much like coz they have better spreads, commissions and they show banks/lps where the feed goes.

So its up to you, my point is I have no trouble and make money with, I can diversities my portofolio.

Thank you,

/ - safety place for savvy investors
WhyLose

Member Since Feb 16, 2010  102 posts Lion Asset Management (WhyLose) Jul 10 2010 at 12:52 (edited Jul 10 2010 at 12:53 )
WhyLose posted:

But the fact seems to remain that they still need to be registered with the UK FSA if they wish to attract UK retail clients as clearly they do.

Personally, I would not open an account with Kingdom Forex because they are NOT registered with the UK FSA.

I would invite comments from the company to correct me on any point if they wish.



Time is more valuable than money. You can get more money, but you cannot get more time.
ForexScam

Member Since Mar 28, 2011  1008 posts ForexScam Apr 30 2011 at 11:55

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