Editor’s Verdict
Overview
Review
Headquarters | Bahrain |
|---|---|
Year Established | 2012 |
Execution Type(s) | No Dealing Desk |
Minimum Deposit | $100 |
Trading Platform(s) | Other, MetaTrader 4 |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
On a routine KLMFX review in January 2018, we found the broker's website to be inactive and unavailable. As such, we can no longer recommend KLMFX as a viable Forex broker, and we encourage all traders to look for a regulated, well-reviewed brokerage.
KLMFX was founded in 2013 and is considered one of the largest brokerage firms for trading in the Forex market. KLMFX provide all appropriate trading conditions and appropriate tools for successful investment. It earned an overall rating of 5 stars as best broker in 2015 for Customer Services. Traders at KLMFX trade with the largest liquidity providers, including Barclays, Credit Suisse, Morgan Stanley and others.
KLMFX is headquartered in Bahrain and has 12 branches all over the world.
Accounts
KLMFX offers traders a choice of three different accounts.
Account Types
The Silver account requires a minimum deposit of $100 to start. Leverage of 200:1 is offered and there is a welcome bonus of 40% of the amount deposited. $5,000 is needed to open a Golden account with a possible leverage of 400:1 and a welcome bonus of 60% of the deposit. Anyone with $20,000 to deposit is eligible to open the Platinum account which comes with leverage of 800:1 and a whopping welcome bonus of 100%.
All three accounts are entitled to a dedicated Account Manager, daily and weekly market analysis, 24/7 customer support, direct access to the trading room and more.
Market Reviews
Any person can open a demo account no matter what his abilities and experience may be. A tutorial explaining how the demo account works is available.
For devout Muslim traders, KLMFX has designed an Islamic account specifically for anyone who wants trading in accordance with the Islamic law and its provisions without any worry or fear. The Islamic trading account has fixed spreads and is free from commissions or usurious interest.
Features
KLMFX offers trading in currencies, commodities, gold & silver, stocks, CFDs, crude oil and indices with accounts that offer leverage between 1:50 to 1:800.
Several calculators are provided on their site: Pivot, Fibonacci, Deal Size and Pip calculations can be done online and traders can sign up to receive live trading signals on a daily basis.
Forex Calculators
Trading Signals
An updated economic calendar is provided which helps traders keep track of the most important global market news and analysis of economic situations all over the world, (inflation rates, trade balance, job growth, GDP along with Central Bank rates and other important news).
There is a full glossary of financial terms.
Education
KLMFX offers account holders an e-book exclusive, designed to expand their horizons and general knowledge of the Forex market, how to trade in the global market and how to achieve the greatest possible return on their money.
There is a choice of videos on trading strategies, economics and platform tutorials as well as a video for beginners only. Information on additional financial educational seemed to be missing from the site or perhaps was available to account holders only. Webinars are also available as are one-on-one learning courses.
Deposits/Withdrawals
KLMFX offers many options for depositing, including credit cards, bank transfers, payment cards and wallets such as Neteller. Limitations include 1 card per account holder, 10 transactions per card per month and $10,000 max per card per month.
Withdrawals are made by logging in to the withdrawal page and entering the amount to be withdrawn and the desired withdrawal method. The checkout process takes 3-7 business days.
Customer Support
Customer Support Methods |   |
|---|---|
Support Hours | 24/7 |
Website Languages |   |
KLMFX offers a full support crew providing free services 24/7. The main office is located in London, UK and representatives can be reached by telephone to London numbers as well as to the United States and Bahrain. Chat and email communication are both available.
Features
KLMFX offers all the features needed for traders who are just starting out in Forex as well as experienced traders that have been trading Forex for many years. What stands out is the choice of the best and most popular trading platforms in the industry-WebTrader and MetaTrader4. Both of these offer traders a host of trading tools and other features that are quick and easy to use and is accessible to all assets offered by the broker.
Platforms
Web Trader
The Web Trader platform does not need prior downloading and is quick and easy to use. It shows all active and closed contracts, contains graphs explaining market moves by Japanese candles and offers the possibility of adding graphing utilities to understand the market and anticipate its movements. It also shows the activity of other traders simultaneously.
MetaTrader 4
MetaTrader 4 is a world-famous platform that accommodates traders on all different levels. It is characterized by its ease of execution and speed, comfortable access to all assets, and exhibits instantaneous live prices directly, which gives traders appropriate interaction investing opportunities.
The KLMFX application allows traders to use all the necessary orders such as “take-profit”, “stop-loss”” and “activate future order.”
It can be downloaded for free.
Mobile
KLMFX offers a mobile application for mobile trading, appropriate for all smart phones with convenient mobility without any anxiety concerning your investments.
The mobile app allows traders to open and close contracts, promote additional liquidity accounts, monitor market movements, catch the best prices and other actions through a single application.
Trading Platform
MT4 | |
|---|---|
MT5 | |
cTrader | |
Proprietary Platform | |
Automated Trading | |
Guaranteed Stop Loss | |
Scalping | |
Hedging | |
OCO Orders | |
Interest on Margin |
