Kato Prime presents itself as a licensed broker, boasting an extensive selection of over 5000 tradable instruments on both MetaTrader 4 and MetaTrader 5. However, beneath this facade, the brokerage engages in deeply questionable practices, leading customers to sign contracts with an unregulated entity. For a comprehensive overview, read this complete Kato Prime review.
Website – https://katoprime.com/
Address – Suite 305, Griffith Corporate Centre, P.O.Box 1510, Beachmont, Kingstown, Saint Vincent and the Grenadines
Warning – Not recommended by the review website like IOTSPY
Regulation – Unregulated, Offshore
Domain Age –
| Domain Name | katoprime.com |
|---|---|
| Date Registered | January 06, 2021 |
| Domain Age | 2 years, 8 months, 25 days, 21 hours, 45 minutes, 52 seconds |
Is it safe to invest with Kato Prime?
KatoPrime falls into the category of brokers to exercise caution with, displaying common characteristics of offshore entities, such as a lack of regulation and crucial omissions in its Terms and Conditions. Additionally, KatoPrime offers dangerously high levels of leverage to its clients.
Originating from the offshore haven of St. Vincent and the Grenadines, KatoPrime claims its main office is in Belize and holds a license from the island nation’s regulatory body, the IFSC. When we searched for Kato Prime parent company name in the IFSC’s register, no valid license was found.
In reality, KatoPrime lacks proper licensing and is, therefore, operating solely from St. Vincent. As previously mentioned, this jurisdiction is notorious for its absence of forex market regulations, making it a magnet for various scammers who seek to conduct their operations without opposition.
Kato Prime Review: Trading Platform
Kato Prime provides access to both MetaTrader 4 and MetaTrader 5, which are renowned retail Forex platforms known for their advanced features like Expert Advisors, a proprietary programming language (MQL), and a marketplace offering over 10,000 trading apps. However, we were unable to access the demo accounts we created, preventing us from discussing real-time spreads and trading costs.
It’s important to emphasize that offering robust platforms does not inherently guarantee reliability; the absence of credible regulation significantly outweighs other considerations.
Kato Prime Review: Leverage
KatoPrime offers leverage of up to 1:400, a level that has been prohibited in most reputable jurisdictions. A significant number of brokers currently offering such high leverage are unlicensed, similar to KatoPrime.
Deposit and Withdrawal Methods
Kato Prime claims to offer the minimum deposit, purportedly accepted through Credit/Debit cards and Wire Transfers, which is stated to be $15. However, we cannot verify this information, as the account we created was not fully operational, preventing us from testing the deposit system. Nevertheless, depositing funds via bank cards is generally considered a safer option, as it allows for chargebacks for up to 540 days.
Regarding withdrawals, there is a concerning lack of details, including minimum requirements, fees, or any other noteworthy conditions. This absence of information raises a red flag, as Kato Prime appears to withhold critical information about their trading conditions.
Kato Prime Review: Customer Support
Kato Prime extends customer support through email communication and maintains an extensive FAQ section on its website. Presently, they do not offer live chat or telephone support services.
Clients have the option to submit a support ticket via the Kato Prime website, and they can generally expect to receive a response within 24 hours. The dedicated support team is equipped to address various concerns, encompassing account inquiries, technical support, and inquiries related to trading activities.
Conclusion
If you’ve become a victim of a Kato Prime scam or have been ensnared by any other fraudulent scheme in the financial realm, it’s crucial to understand that you don’t have to suffer in silence. You have the opportunity to take action and seek recourse against those responsible for your financial hardship. Our dedicated platform is here to assist you in this challenging situation. We encourage you to initiate the process of redress by completing a complaint form on our website. Our team of experienced experts is ready to provide you with a free consultation, guiding you through the intricate process of fund recovery.
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