The world of online trading can be a murky one, filled with scams and unsavory characters ready to take advantage of unsuspecting investors. Kangda Global Limited is one such broker that has come under scrutiny for its questionable business practices. In this article, we will take a closer look at Kangda Global Limited and review the evidence against it.
Company Overview
| Broker name | Kangda Global Limited |
| Website | http://kangda-fx.com/, http://kangdab2c.com/Â |
| Location | USA |
| Regulation | NFA |
| Traders’ review | Negative |
Team
The Kangda Global Limited website shows an extensive team of financial experts and traders who purportedly have years of experience in the financial markets. But, the information they showed is false. The team images are from stock images and none of the employees are on LinkedIn. It is not believable.
Services and Products
Kangda Global Limited offers various financial products and services, including forex, commodities, indices, and cryptocurrencies. The website claims to offer competitive spreads, fast execution, and reliable trading platforms to its clients. However, these claims are not substantiated by any evidence.
Trading Platform
Kangda Global Limited uses the MetaTrader 5 (MT5) platform, which is a highly regarded trading platform used by professional traders worldwide. But, we did not get any chance to check the platform demo as they require to purchase a package.
Licenses and Regulations
License Status
Kangda Global Limited claims to be licensed under NFA from the USA. They also provided the license number. When we searched with the number, we found their claim is true. But, this is not all. They have a registration number as anyone can do, but they are not a member.
Regulation Status
There is no evidence of regulatory oversight for Kangda Global Limited. NFA specifically mentioned that this broker is not an oversight by NFA as they are not an NFA member. That means this broker is not bound to report to NFA.
Why Should Not You Trust An Unlicensed Broker?
Unlicensed brokers are often fraudulent and engage in unsavory practices that result in devastating consequences for investors. Such brokers operate outside the law and regulatory oversight, making them vulnerable to fraudulent activities such as embezzlement of funds and breach of client confidentiality.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Legal Warnings Against Kangda Global Limited
Many countries have issued warnings against Kangda Global Limited. The Financial Conduct Authority (FCA) of the UK, the Australian Securities and Investments Commission (ASIC), the Financial Markets Conduct Authority (FMA) of New Zealand, and the Capital Markets Authority (CMA) of Kenya have all issued warnings against the broker.
Client Feedback On Kangda Global Limited
About Their Trading
Clients have reported that trades are executed without permission, and their accounts are wiped out through unauthorized trades. Furthermore, the broker fails to execute trades at the prices agreed upon, leading to significant losses.
About Their Customer Service
Kangda Global Limited has received a lot of criticism for its poor customer service. The clients have complained of unresponsive support teams and a lack of communication from the broker, making it challenging to resolve any issues.
How Can Reviewsadvice Help You If You Get Scammed?
Reviewsadvice is a reputable platform that provides investors with valuable information about forex and cryptocurrency trading. If you get scammed by this broker, you can submit your case to us. We will review your case and will provide you with a free consultation and service recommendation to help you in recovering the lost fund.
Final Thought
Kangda Global Limited is a scam broker that has been the subject of multiple warnings from regulators around the world. The broker engages in fraudulent activities, and it is highly recommended that investors stay far away from it. In the world of online trading, it is vital to research and chooses regulated brokers that prioritize transparency and client protection. It is best to avoid unlicensed brokers, as they are often fraudulent and can cause significant financial harm.
