Kiplar claims to offer instant access to the most popular stocks, but such statements do not necessarily mean that we are dealing with an honest broker. Let’s dig deeper and find out whether this is a legitimate platform or just another scam. Join us and read our review to see what we’ve caught in our fishing net today.
- Kiplar General Information
- Registration and Client Portal Review
- Kiplar Trading Conditions
- Account Types Review
- Trading Platform
- Kiplar — Deposit and Withdrawal of Funds
- Additional Options
- Is Kiplar a Scam?
- Legal Information and License
- Kepler.org Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Kiplar General Information
|Address||Beachmont Business Center, Suite 76, Kingstown, St. Vincent and the Grenadines|
|Trading Platform||KIP Trader|
Registration and Client Portal Review
The official website of Kiplar leaves much to be desired in terms of design and user experience. The overall layout is dull and lacks creativity, giving the impression of a hastily put-together platform. The color scheme and graphics fail to captivate visitors, leaving them unimpressed.
Moreover, the website appears to be overly generic, with content that feels like it could be copied and pasted from any other brokerage site. There is a notable absence of unique branding elements or personalized features, making it difficult for Kiplar to stand out among its competitors.
In addition to its lackluster design and lack of information, the website fails to provide any compelling reasons for users to choose Kiplar over other established and reputable brokers. The absence of innovative tools, educational resources, or distinctive services makes it challenging for potential clients to see any real value in this platform.
The broker requires users to fill out an extensive questionnaire during the registration process. In addition to basic personal details and contact information, the form includes questions about residency, full address, and date of birth. While there’s nothing inherently alarming about this, potential clients should be aware that the form might take some time to complete due to its comprehensive nature.
Be prepared that you may not get immediate access to the personal account. For instance, our application was rejected, and we were advised to contact a manager to proceed further. This can be considered a drawback as it may delay the account activation process and require additional steps to resolve the issue.
Kiplar Trading Conditions
Kiplar claims to take pride in its trading conditions. Let’s now verify how good they actually are.
Account Types Review
Starting with the Starter account, requiring a deposit of $250, it offers an “Educational Center” feature. While education is essential, this basic account might not provide comprehensive tools or benefits for traders to achieve substantial success. Moving up to the Basic account, with a minimum deposit of $2,500, clients gain access to an “Individual Strategy.” Unfortunately, the specifics of this strategy remain unclear.
Next is the Advanced account, demanding a hefty $25,000 deposit, granting “Analysis Tools.” While analysis tools can be crucial for trading decisions, the absence of detailed information on these tools raises doubts about their effectiveness and value. The Professional account demands an even more significant investment of $100,000 and offers an “Investment Portfolio.” Yet, without a clear breakdown of the portfolio components, clients might question the actual benefits and risk management it provides.
Finally, the VIP account, curiously lacking a specified minimum deposit, boasts “Protection Against Negative Balance.” While negative balance protection is a positive feature, the lack of clarity regarding the VIP account’s conditions raises concerns about potential hidden charges or restrictions.
Overall, Kiplar’s account structure appears hastily put together, with incomplete information and vague promises.
KIP Trader, the platform offered by Kiplar, raises several red flags that traders should be aware of. Firstly, the platform’s lack of recognition in the trading community is concerning.
Moreover, Kiplar claims to offer a downloadable application, but the catch is that it is only accessible through the personal account. This restriction creates suspicion as to why the platform is not publicly available for review or scrutiny.
The fact that KIP Trader is not available in app stores further contributes to its lack of transparency and credibility. Legitimate trading platforms are readily accessible on well-known app stores, which grants users confidence in their reliability.
Kiplar — Deposit and Withdrawal of Funds
Kiplar offers a very limited selection of payment methods, as it only accepts payments through Visa and MasterCard. This narrow range of payment options is concerning for several reasons.
Firstly, restricting payment methods to only Visa and MasterCard significantly limits the convenience for clients, as many traders prefer to use alternative payment methods like e-wallets, bank transfers, or cryptocurrencies.
Secondly, relying solely on Visa and MasterCard payments may lead to difficulties for international clients. Different regions have varying banking regulations, and some clients may not have access to these specific card types. This limitation could alienate potential traders from certain countries or regions and prevent them from using Kiplar’s services.
Kiplar requires verification from its clients. The verification process involves submitting personal identification documents, such as a government-issued ID or passport, as well as proof of address, like a utility bill or bank statement. Once the documents are uploaded, the broker will review and approve the verification within a specified timeframe. It is essential to complete the verification process to gain full access to the broker’s services.
Among the additional services, Kiplar offers various trading signals and tools to its clients. However, it is essential to approach these services with caution as relying solely on them can be risky. Trading signals and similar offerings provided by the broker may lack transparency and accuracy, leading to potential losses. Traders should exercise their own analysis and judgment before making any financial decisions, as blindly following such signals may not yield favorable results.
Is Kiplar a Scam?
The trading conditions leave much to be desired. Let’s take a look at what the broker can offer to traders in case of legitimacy.
Legal Information and License
Kiplar claims to be registered in Saint Vincent and the Grenadines, but the current situation with the regulator is quite interesting. The regulatory authorities in Saint Vincent and the Grenadines require brokers to obtain a license from the jurisdiction in which they conduct their business. However, even new companies are required to secure a license before being officially registered.
Upon conducting thorough research and verification, we found no evidence of Kiplar being registered or holding a valid license with the local regulator. This lack of proper registration and licensing raises significant doubts about the legitimacy of the project.
Kepler.org Domain Info
Kiplar claims to have been in operation since 2020. While this may seem like a considerable time, it’s important to note that the financial industry demands a high level of trust and credibility. The fact that they have been in operation for a relatively short period raises concerns about their track record, regulatory compliance, and overall reliability. In the financial world, having a longer history often provides more confidence to clients, as it allows for a better assessment of the broker’s performance and reputation. Despite being in business for a couple of years, Kiplar’s absence of licenses might not instill the same level of confidence as more established and reputable brokers.
The portal boasts an online chat feature, which unfortunately falls short of its promised functionality. We attempted to contact a manager and endured a frustrating 45-minute wait (despite the advertised response time being just a few minutes), rendering the conversation about competent support utterly pointless. Moreover, the broker provides contact numbers and email addresses, but the office address is undoubtedly fake. This is because Kiplar is no longer registered in St. Vincent and the Grenadines.
Pros and Cons
- Low minimum deposit.
- Boring website design.
- Lack of transparency.
- No licenses.
- Limited payment options, accepting only Visa and Mastercard, which may inconvenience some traders.
- Unreliable customer support.
Frequently Asked Questions (FAQ)
Kiplar claims to offer instant access to popular stocks and various markets, including stocks, futures, and Forex.
Kiplar’s website mentions different account types with varying minimum deposit requirements starting at $250.
No, this is not a safe broker. It is a company that lies about its registration and legitimacy. Stay away from it.