Independent Review - Kiexo
Security has become increasingly important for brokers as hackers become increasingly advanced, and online scams become increasingly sophisticated. You are already risking a loss by trading, so you don’t want to take a risk with your broker, right? It’s that mindset that often keeps traders going to the age old brokers that have been around forever, but by doing that they miss out on the innovative new brokers and the excellent service they are providing while trying to build a solid reputation for themselves.
One of these new brokers you may want to try out is Kiexo, which has only surfaced online in 2020 and promises to be a broker made by traders for traders.
Kiexo opened their online trading portal in 2020, making them a very new online broker. At the start they wanted to dominate the Portuguese speaking market of Brazil, but after their initial success they deemed it a better strategy to also include English speakers in their clientele and promptly translated all their materials to English. Since then they have continued growing rapidly thanks to the wise decision.
The broker is based in St. Vincent and the Grenadines, and is wholly owned and operated by Kiexo LLC Ltd.
The first thing we noticed about Kiexo is the variety they offer traders, both in the assets they have on offer and in the number of account types and additional features available to traders. Traders who like to have their hands in many different asset classes and markets will really appreciate the variety here. Below we’ll go into more depth about those features and the overall service level at Kiexo.
We know we all like to see that a broker is regulated because it makes us feel protected. The truth is regulators do not have much clout, and the real factor that keeps brokers honest and secure is their own concern about their clients and their reputations. That is why we were not too concerned to see a lack of regulation for Kiexo.
There is also the possibility that they are working on regulation, but as such a new broker they have not been able to secure a license quite yet. We are not sure, but we do know that the broker does have a good reputation, and a growing number of clients, which is always a good sign.
They promise the safety and security of client funds, and so far, there’s no reason not to believe them as this is exactly what they’ve managed to deliver in the early days of their business.
One thing we missed with Kiexo is the presence of a demo account to test the trading platform and conditions before opening an account. What was surprising though was to find not just a few account types, but eight different tiers of accounts, with new benefits and features added as you move up the ladder. Naturally, the account tiers are based on total deposits, and while the Newbie account requires just $250 as a minimum, the amounts scale up pretty quickly. Here is a breakdown of each account tier and the minimum deposit required:
- Newbie - $250 minimum deposit
- Explorer - $10,000 minimum deposit
- Trader - $50,000 minimum deposit
- Trader Pro - $100,000 minimum deposit
- Expert - $500,000 minimum deposit
- Expert Pro - $1,000,000 minimum deposit
- VIP - $5,000,000 minimum deposit
- VIP Pro - $10,000,000 minimum deposit
Note that all of the account tiers have access to the MT5 trading platform, including mobile trading. Also, with all accounts is low market pricing, multi-language support, educational materials, and fast and reliable execution of orders. The Explorer level adds in-depth investing tools and access to a weekly signals package. At the Trader level fundamental trading materials are added as well as better spreads. The Trader Pro level opens signals with comprehensive analysis and complex charting and indicators. At the Expert levels you can also access live signals with expert analysis, while those who get to the Expert Pro level account and above will also have access to Islamic no-swap accounts and low and allotted market pricing. The VIP level traders can expect customized investing materials and advice as well as advanced execution orders and sophisticated investment resources. VIP Pro accounts are by invite only and include personalized market offers and access to market events.
We mentioned at the beginning the great variety of assets available at Kiexo, and here’s where we can be more detailed. Unlike most brokers these days where there are a few hundred assets to trade Kiexo includes over 1,500 assets across all six of the major asset classes. That means you are able to trade on soft commodities and currencies, stocks and global indices, as well as cryptocurrencies and energy/metal products. Plus there’s an excellent selection in each asset class, so you’ll never be at a loss for something to trade, no matter which markets are trending.
Kiexo offers one of the top trading platforms available, MetaTrader 5. It’s the latest iteration of the world-class MetaTrader software and it’s an excellent tool for technical analysis, order entry, and order management. Plus you can use all three clients – desktop, web, and mobile and they synch with each other so there’s no worries about losing anything when you decide to step away from the desktop version and fire up the mobile version while you’re out and about.
MetaTrader is well known as one of the top analysis platforms available, with dozens of indicators and the ability to customize your own trading systems and robots using their proprietary programming language MQL5. That makes it powerful enough for veteran traders. It’s also intuitive, making it easy enough for new traders just learning how to do their own technical analysis.
We’ve long been a fan of MetaTrader 4 and while we prefer that version (old habits die hard), those just starting out will get all the benefits of the client including all the new features when they trade through MT5.
The FAQ section of Kiexo’s website says the broker will accept deposits via bank transfer, credit and debit cards, or cryptocurrencies. It goes further to state details can be found within the deposit page of the platform when logged in. There is no information regarding withdrawals, or any fees associated with deposits and withdrawals, so we can only guess that information is also within the platform when logged in.
There is also a section in the FAQ stating the minimum deposit is $100, but we can only presume this is applicable for further deposits once meeting the minimum $250 needed to open a Newbie account with the broker.
Customer service is available from Kiexo’s customer service team via the usual telephone, email, and online chat 24 hours a day, 5 days a week. What’s missing is an online contact form, but since those go straight to email anyway that’s hardly a big deal.
Webform: No webform available.
Kiexo is making a name for itself as one of the newest online brokers, and we did like the combination of flexibility in account tiers, and the great variety of assets available for trading. We think the broker is definitely working in the right direction with this combination.
In the future we would love to see a demo account added, as well as regulation from one of the top regulating authorities.