KingstonGates Review: “Simple and Easy Online Trading” or a Scam?

Simple and easy online trading — how long have you been dreaming about it? In this KingstonGates review, we’ll tell you about a broker who arrogantly claims that everything you need is already set up on their platform. However, we all know that there’s no such thing as a free lunch. So, to avoid falling into another scam, read our investigation.

KingstonGates General Information

Registration and Client Portal Review

The KingstonGates website doesn’t look great. The homepage is impressive for its template design and fake reviews. Most of the information here is pretty useless.

Other pages aren’t much better, either. For example, the glossary or the asset list found in the Tools section is unlikely to interest a professional trader.

What’s most concerning is that you can’t complete the registration process. After submitting the form, a message pops up promising “See you soon.” What the client is supposed to do next is completely unclear. What are they waiting for? A call from support? It all seems very strange. It’s not normal that you can’t access the broker’s personal account without unnecessary conversations with managers.

KingstonGates Trading Conditions

Let’s take a closer look at the broker’s offering. Could there be a hidden treasure behind the unappealing facade?

Account Types Review

Most likely not. KingstonGates follows a typical approach. They offer several account types to start trading. Like many brokers before them, they use the simple model of increasing deposit size. So, the more money you deposit, the more services you get. But the trading conditions don’t really differ much. Yes, higher-tier accounts come with better leverage and lower spreads. However, the main difference is that the broker adds a bunch of extra, unnecessary services. Why unnecessary? Because experienced traders never rely on such services. Overall, there’s still a lot of information that remains undisclosed. For example, what kind of fees does the broker charge, or what’s the situation with swaps, and so on.

Trading Platform

The KingstonGates trading platform feels underdeveloped and limited. Firstly, it’s only available in a web version, with no mobile or desktop apps. Additionally, the platform’s functionality is quite basic: it lacks the essential oscillators and indicators needed for more precise market analysis. There are minimal chart customization options, and order execution speed leaves much to be desired. Overall, the platform seems like an incomplete tool for trading.

KingstonGates — Deposit and Withdrawal of Funds

Overall, the deposit and withdrawal methods offered by the broker are quite standard — bank cards, transfers, and cryptocurrency. However, when it comes to withdrawal times and fees, there are immediate concerns. First, the withdrawal processing time of 7-10 days is completely unacceptable for normal, licensed platforms. In today’s world, where most reliable brokers process transactions within hours or at most one or two business days, such delays are highly suspicious.

Moreover, the broker charges a fee of at least 1% for withdrawals, which is also not standard practice.

Verification

The broker requires verification, but since we haven’t successfully completed the registration, we can’t speak to the exact process. However, based on industry standards, you would likely need to confirm your identity and payment method. This typically involves submitting proof of identity, such as a passport or driver’s license, and confirming your payment method by providing documentation (e.g., a photo of your card or a bank statement). Verification is usually a necessary step before you can withdraw funds. However, it’s a red flag when the process itself isn’t transparent or easily accessible.

Additional Options

The broker offers services like Independent Contracts, Trading Strategies & Techniques, Advanced Arbitrage, etc. These terms might sound impressive at first glance. However, they are essentially meaningless in the context of a questionable broker. These services are often nothing more than buzzwords aimed at making the platform seem more professional or specialized than it really is.

What’s even more concerning is that the broker demands large deposits — thousands of dollars — just to access these “exclusive” services. In reality, experienced traders know that such strategies or techniques are widely available for free online or through reputable sources.

Is KingstonGates a Scam?

Well, we have already discussed the so-called exclusive brokerage services. Now, let’s move on to the company.

Legal Information and License

Interestingly, Kingston Gates does not provide any legal information about itself. All we have is the name of the brand. At the same time, their contact information includes a phone number from the United Kingdom. However, there are no details available in this registry. Such a firm is not registered there.

Furthermore, in the brokerage’s documents, it is stated that any disputes with traders will be settled according to the laws of Saint Vincent and the Grenadines. It is unclear why this country was mentioned in lowercase letters. Nevertheless, this is not important.

It is much more important to note that this company is not listed in the register of Saint Vincent and the Grenadines (what a surprise, same as RCFInvestments for exaple, another one Scam project with the same legend). This means that the broker operates illegally, without a license, and cannot accept or manage client funds.

Kingstongates.com Domain Info

We also would like to draw your attention to the short duration of the project. After checking the date of creation of the site, we found that it was only registered on September 8, 2024. We strongly advise you not to consider brokers that have been in operation for less than a couple of years, as there is a high risk of them disappearing in the first year of operation.

Contacts Review

With regard to contact details, the broker furnishes them in full. There is a telephone number and an electronic mail address. Nevertheless, no office address is provided. This comes as no surprise, considering the fact that we are already aware of the project’s fraudulent nature.

More Details

It is also worth noting that the broker appears to be engaging in fraudulent practices by employing fabricated reviews. Given the short duration of their operation, it is unlikely that they would have had sufficient time to amass such a substantial number of positive comments. Moreover, these reviewers do not even attempt to conceal their lack of credibility. In fact, it appears that they have not even taken the time to thoroughly investigate the terms and conditions of KingstonGates. Overall, this serves as a cautionary sign. Exercising caution when encountering positive feedback in the online realm.

Pros and Cons

2.3 TOTAL SCORE

KingstonGates Summary

The company has recently emerged onto the scene and lacks a license. Its reputation among traders is non-existent, so it is not even worthy of discussion. We deem it utterly unworthy of attention. Can this entity garner trust and emerge as a leader in the realm of brokerage services? Certainly not. It is merely a blatant fraud.

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Website information content 3

Client Portal 2

Trading conditions 3

Trading platform 3

Deposit and withdrawal 3

Verification 2

Extra options 2

Licenses and guarantees 1

Work duration 1

Feedback 3

Frequently Asked Questions (FAQ)