WikiFX Review: Can Kato Prime make your money safe?

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of Kato Prime based on the facts.

What is WikiFX？

To explore whether Kato Prime is a scammer or not, we evaluated this broker from different aspects, such as regulatory status, exposure, etc.

1. Evaluate the reliability of Kato Prime based on its general information and regulatory status.

General Information& Regulation

Kato Prime is an online forex broker providing hundreds pf trading instruments ranging from Cryptocurrency, Forex, Stocks, Commodities, and Indices with Underlying Assets. The registed address of this broker is Suite 305, Griffith Corporate Centre, P.O.Box 1510, Beachmont, Kingstown, St. Vincent, and the Grenadines.

Accounts & Leverage

Kato Prime has set up 3 kinds of flexible trading accounts types for investors, with the name of K's Advanced Account MT4, K's Raw Premium Account MT5, and K's Raw Platinum Account MT5. The minimum deposit is as low as 15 USD for the first mention of 3, and the deposit is a transparent DMA account for the latter two classes. As for leverage, Kato Prime offers1:1 and 1:500 while opening the account, which means too much risk for some traders.

Spreads & Commissions

There is no commission and low spread for K's Advanced Account MT4 on account of the restriction of accessing the demo account, thus, the real-time spreads and trading costs are not clear. As for the other two Account MT5, both of them offer the lowest spreads, of which up to $7 commission fee per lot in the meantime as low as $0.03 commission fee per deal.

Trading Platform

This broker use MT4 and MT5 as its main trading platform.

Deposit & Withdrawal

There are two methods to pay via Credit/Debit cards and Wire Transfers, it is remarkable that bank cards are much safer on the occasion of incomplete functions. Besides, the minimum deposit is $15, however, there are no minimum requirements for the withdrawal.

Trading Hours

The trading times at Kato Prime vary from market to market, for example, the indices market is open from 06:00 to 18:00 and investors could not trade every day.

Customer Support

Kato Prime supplies specialized support to each trader and gets ready to give traders a hand during the whole day in a week.

B. Regulatory Status

What is a Legitimate License？

a The legitimate license is the business license issued by the financial regulatory institution of each country/region.

b Holding a license means that the broker is recognized and regulated by the regulatory authority, therefore your money is under the protection to some extent.

c Whether a forex brokerage firm holds a legitimate license or not is one of the important factors to evaluate the reliability of forex brokers.

d The content of the regulation and the difficulty of obtaining a license vary with the country and agency issuing the license.

The legitimate license of Kato Prime

The FSC regulatory with license number: 000392/228 is an offshore regulatory. But Kato Prime Belize Ltd is authorized and regulated by the International Financial Services Commission

(IFSC: 000392/115).

Registered address: Barrier Reef Drive,San Pedro Town, Ambergris Caye, Belize, C.A.

2. Exposure related to Kato Prime on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and reminds you of the risks before it starts.

As of September 21, 2022, WikiFX has received 4 complaints against this broker within three months.

3. Special survey about Kato Prime from WikiFX

A. Scoring Criteria

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Kato Prime has been given by WikiFX a modest rating of 4.53/10.

(source: WikiFX)

B. WikiFX Alerts

4. Conclusion

We cannot consider Kato Prime an unscrupulous broker since it has a decent wiki score of 4.53/10. However, due to the recent complaints we received, we advise you to do more research and keep cautious before making a decision. WikiFX always puts the traders interests in the priory. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.

Click on Kato Prime' WikiFX page for details