The first thing we’ve noticed once we checked the Kiplar broker’s website is that everything shows up in Russian. No, the company is officially not related to Russia, so how come? Who is behind this illicit operation, and what is their goal?
Let’s see in our trusted Kiplar review!
|Broker status:||Unregulated Offshore Broker|
|Regulated by:||No Regulation (Unlicensed Brokerage)|
|Blacklisted as a Scam by:||AFM & CONSOB Regulators|
|Broker Owner:||Kiplar Ltd|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Supported Trading Platforms:||WebTrader, Mobile Trader, MT5|
|Kiplar Minimum Deposit:||$250|
|Cryptocurrencies (Crypto Assets):||Not Available|
|Available Trading Assets:||Forex (FX), Commodities, Indices, Shares|
|Islamic Account:||Not Available|
|Free Demo Account:||No|
|Accepts US clients:||Not Accepted|
Kiplar Regulation and Licensing Details
Nowadays, anyone can start a website and claim to be an online broker. However, to be a legit one, you still have some conditions to fulfill. It’s not enough to open a website and add your name on some trading chart. Is Kiplar regulated and legit brokerage? That was our question.
The brand is owned by Kiplar Ltd, an anonymous company from Saint Vincent and the Grenadines. Since SVG does not provide financial regulations, brokers should opt for one in the countries where they provide financial services.
Questions to License and Regulation
We’ve decided to check a couple of main Tier1 registers, such as FCA, BaFin, and ASIC, looking for Kiplar regulation. And, as expected, we found nothing. It shows us we are dealing with a bogus broker and should avoid it by all means.
Scam Warnings Against Kiplar Broker
Every illegal operation has its end. Once regulatory bodies recognize some brokers as scams, it will be tough for them to gain clients. The first one to publish an official warning against Kiplar broker was French AMF. They have received too many complaints about the broker and decided to end the story by blacklisting and banning the broker completely. The same warning was issued later by Italian CONSOB.
Kiplar Reviews – What Traders are Saying
While doing our research, we came across many Kiplar reviews by traders themselves. According to them, dealing with this broker is equal to going to the casino. You are exposing your funds to tremendous risk, and you never know if you will get anything back.
The broker makes withdrawal issues and suspends clients’ accounts if they insist too much on a payout.
If you were scammed by Kiplar trading brokerage, let us know!
Kiplar Trading Platform Review
After all the aforementioned red flags, the Kiplar trading platform is entirely irrelevant. Anyhow, trading with an offshore scam is not recommended. Yet, we like to do our job thoroughly. The broker offers the Kip trading platform, a proprietary WebTrader that looks a lot like MT5. In fact, it has most of the MT5 features.
As everything that comes from this company, leverage is unregulated and goes up to 1:400, while the spread is higher than usual and goes over 2 pips for EUR/USD pair.
Kiplar App – Mobile Trading Details
Besides the WebTrader, the company offers trading from a smartphone. Trading is available for both Android and iOS-based devices, including tablets and iPads. On the website itself, there is a link for platform download.
What Can You Trade With Broker?
This broker offers trading with:
- Currency pairs
Notably, there are no cryptocurrencies anywhere. Kiplar stated there are over 10,000 trading assets, but we couldn’t verify the information since it does not offer a Demo account.
On the other hand, Kiplar minimum deposit requirement is $250 for the Student account to start trading.
Kiplar Account Types – 5 Account Types Available
Besides the Student Account (Starter) with with $250 minimum deposit, Kiplar has another 4 account types:
- Advanced Account (Basic) – $2500 minimum deposit
- Specialist Account – $25 000 minimum deposit
- Professional Account – $100 000 minimum deposit
- VIP Account – negative balance protection
Of course, the difference is in the amount of money and the services clients are receiving.
Account manager comes into consideration only if you have an Advanced or higher account, while with Specialist, you are getting fixed and floating spread combined. As the highest account, VIP brings negative balance protection and professional hedging.
Kiplar Withdrawal and Deposit Methods
To activate their account, clients are required to make an initial deposit. It can be made through various payment methods:
- Wire transfer
The same methods can be used for withdrawals. However, we cannot see any commissions or fees for such action.
Scammed by a Kiplar broker? We Know What to Do!
Being involved with an illicit brokerage can end only one way – bad. That’s why Global Fraud Protection was established, with the utmost idea of helping online trading victims get what’s rightfully theirs. For us to do so, we need to get all the relevant information.
As you can already conclude, you are not the only victim of the Kiplar scam. Contact us via online chat, tell us your story during a free consultation, and let’s get your funds back now.
Don’t Let the Scammers Go Away for Free!
What is Kiplar?
It is an online trading brokerage based offshore, without a regulation.
Is Kiplar regulated and licensed?
Kiplar is not a legit nor a licensed trading brokerage. It’s running a scheme.
Is Kiplar legit?
Company is not a legit trading brokerage and has no regulation for providing financial services.
Are My Funds Safe with Kiplar?
Since the broker is not regulated, your funds are not safe with Kiplar.
What deposit and withdrawal methods Kiplar supports?
Kiplar supports paying through Visa, MasterCard, Amex, Diners, JCB, Discover, Neteller, and wire transfer.