Overview of KVB PRIME
KVB PRIME is a relatively new trading platform based in Samoa, operating for 1-2 years. It operates without regulatory oversight.
The platform offers a range of trading instruments, including Forex, commodities, shares, indices, and cryptocurrencies. However, the absence of regulation may impact the safeguards and protections available to traders.
KVB PRIME provides different account types, including PRIME and ECN accounts, with various leverage options. Additionally, a demo account is available for practice. The platform offers a mobile trading app, MetaTrader 4, and a copy trading service.
Pros and Cons
Is KVB PRIME Legit?
KVB PRIME operates without regulatory oversight, which means it lacks formal supervision by financial authorities or governing bodies. This absence of regulation can pose potential risks to traders and investors, as there may be limited safeguards and protections in place compared to regulated entities.
Market Instruments
FOREX:
KVB PRIME offers a selection of Forex (Foreign Exchange) instruments, including AUDCAD, AUDCHF, and AUDJPY. These instruments enable traders to engage in global currency trading, capitalizing on fluctuations in currency values. Each Forex instrument comes with its own spread, leverage ratio, and trading hours, providing traders with options to suit their trading strategies and preferences.
COMMODITIES:
KVB PRIME provides access to the commodities market through instruments like XAGUSD (Silver) and XAUUSD (Gold). These commodities can be traded with varying spreads and leverage ratios. Traders can take advantage of price movements in precious metals, diversifying their portfolios and potentially benefiting from market volatility.
SHARES:
The platform also offers shares of well-known companies like Apple Inc (#AAPL), Advanced Micro Devices Inc (#AMD), Amazon.com Inc (#AMZN), and Broadcom (#AVGO). These share instruments feature consistent spreads and leverage ratios, allowing traders to invest in the stock market and participate in the performance of these companies.
INDICES:
Indices such as DAX (German Stock Index), NIKKEI (NIKKEI Index), and HSI (Heng Seng Index) are available for trading on KVB PRIME. These instruments represent the performance of specific stock markets and provide traders with exposure to broader market trends. Each index instrument has its own spread, leverage ratio, and trading hours.
CRYPTOCURRENCIES:
KVB PRIME offers a selection of cryptocurrencies, including AVAXUSD (Avalanche), BCHUSD (BitCoin Cash), BNBUSD (BNB), and BTCUSD (BitCoin). These cryptocurrency instruments feature fixed percentage-based swap rates and trading schedules, allowing traders to participate in the fast-moving and dynamic crypto markets.
Account Types
PRIME ACCOUNT:
The PRIME account type is a versatile option suitable for both novice and experienced traders. It offers a wide range of leverage options, including 1:100, 1:200, 1:400, and 1:800. This account operates on Market Execution and features a floating spread starting from 1.5 pips. The Stop Out level for PRIME accounts is set at 100%.
ECN ACCOUNT:
The ECN account type requires an initial deposit of 2000 USD and offers leverage options of 1:100, 1:200, 1:400, and 1:800. Similar to the PRIME account, ECN operates on Market Execution but provides a floating spread starting from 0 pips. The Stop Out level for ECN accounts is also set at 100%.
Additionally, KVB PRIME offers a demo account with virtual funds, allowing users to practice trading on the platform without financial risk. Creating a demo account is a straightforward process through the MT4 platform, with server selection as KVBPrimeLimited-Demo.
Leverage
KVB PRIME offers a floating leverage option with a maximum ratio of 1:800.
Spreads
KVB PRIME offers spreads starting at a minimum of 0. This means that traders may encounter spreads as low as zero pips on certain trading instruments, potentially reducing trading costs and enhancing opportunities for profit.
Non-Trading Fees
KVB PRIME imposes an inactivity fee, which is triggered after 181 consecutive inactive days. In such cases, the system deducts USD 10 from the account balance every 30 days until the account reaches a balance of USD 10 or less, at which point the deductions cease.
Minimum Deposit
The minimum deposit amount per transaction at KVB PRIME is USD 1, with a maximum limit of USD 75,000.
Deposit & Withdrawal
KVB PRIME provides various deposit methods, including bank card, NB deposits, and USDT deposits. Deposits are credited instantly, and there is a minimum withdrawal amount of USD 500 for CN customers and USD 20 for non-CN customers for bank transfers. NB withdrawals require a minimum of 1 NB, and USDT withdrawals have a minimum of USDT 20. Withdrawals are typically processed within 1-3 days, with potential delays for large withdrawal amounts. The platform offers three withdrawal methods: NB, USDT, and bank card, and users can initiate withdrawals through the user center by selecting their preferred method.
Promotions
KVB PRIME is currently running the Gold Trading Race promotion in celebration of the upcoming Mid-Autumn Festival. This promotion is open to all KVB PRIME clients, with registration available from August 28, 2023, to September 24, 2023. The competition itself will take place from September 4, 2023, to October 1, 2023. Participants must register with a minimum deposit of USD 500 on a selected live trading account.
Trading Platforms
META TRADER 4: MetaTrader 4 (MT4) is a widely recognized trading platform known for its industry-standard status. It offers an intuitive user interface and a feature-rich environment for traders.
KVB PRIME APP: The KVB PRIME APP is a mobile trading software developed in-house. It offers features like market quotations, charting, transaction capabilities, account management, deposit/withdrawal options, and market information.
COPYTRADE (Automatic Trading)
COPYTRADE is a system offered by a third-party service provider, FOLLOWME. It functions as a trading community where global users can connect and interact. Traders can share their trading experiences, showcase strategies, and exchange information.
Users can copy the trades of experienced traders automatically. The process involves connecting their trading accounts, subscribing to trading “Signal” providers, and copying their orders.
FOLLOWME has over 500,000 registered users from more than 170 countries. Traders can subscribe to multiple Signal providers based on their preferences and risk tolerance, paying a subscription fee, typically around $30/month. The platform also provides risk control tools for users.
Educational Tools
KVB PRIME provides a range of educational tools to help traders make informed decisions. They offer real-time market quotes for instruments like AUDCHF, GBPNZD, #NKE, #PG, and #V, allowing traders to monitor price movements closely over different timeframes.
In addition to market quotes, KVB PRIME offers insights and news articles. Furthermore, KVB PRIME offers technical analysis for specific currency pairs like NZD/JPY and USD/JPY, helping traders identify potential entry and exit points. This technical analysis assists traders in developing their trading strategies based on market trends and support and resistance levels.
Technical analysis is another aspect covered by KVB PRIME, offering information on specific currency pairs like NZD/JPY and USD/JPY. This technical analysis provides intraday guidance and alternative scenarios, assisting traders in their decision-making process.
For beginners, KVB PRIME offers educational resources on forex trading basics, including explanations of the forex market, forex trading, and forex brokers. Traders can learn about currency pairs, their bid and ask prices, and the concept of pips. These resources are particularly helpful for those new to forex trading, helping them understand the fundamentals.
Lastly, KVB PRIME offers educational videos that cover trading guidelines, company branding, and media-related content. These videos provide additional learning materials for traders seeking to enhance their knowledge and skills in the financial markets.
Customer Support
KVB PRIME offers customer support tailored to its Greater China and European clients. For Greater China, customers can reach out via email at support@kvbprime.com or call 400-886-7005 during service hours from 07:30 to 23:00 (UTC+8). European customers can also contact support via email at support@kvbprime.com during the same service hours. Additionally, live chat support is available for quick assistance.
Reviews
A review of KVB PRIME on WikiFX reveals a single exposure, primarily concerning a complaint related to a pyramid scheme. Additionally, the review highlights a customer's experience with an inactivity fee deduction. The customer had a balance of $5.41 in their trading account, and they were charged the inactivity fee without prior notification or awareness, leading to dissatisfaction and a perception of unfair treatment.
Conclusion
In conclusion, it's important to consider both its advantages and disadvantages. On the positive side, the platform offers a diverse range of trading instruments, including Forex, commodities, shares, indices, and cryptocurrencies. It also provides multiple account types to cater to different trading preferences and skill levels. However, a significant drawback is the lack of regulatory oversight.
FAQs
What are the available market instruments for trading on KVB PRIME?
KVB PRIME offers Forex, Commodities, Shares, Indices, and Cryptocurrencies for trading.
What are the account types offered by KVB PRIME?
KVB PRIME offers PRIME accounts and ECN accounts, suitable for both novice and experienced traders. They also provide a demo account for practice.
Does KVB PRIME charge inactivity fees?
Yes, KVB PRIME imposes an inactivity fee if an account remains inactive for 181 consecutive days, deducting USD 10 every 30 days until the account balance reaches USD 10 or less.
2024-07-17 18:30
2024-07-11 10:07
