WikiFX Reviews Kato Prime in Depth

In this article, we'll look in-depth at Kato Prime, examining its key features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service. WikiFX aims to provide you with the information you need to make an informed decision about using this platform.

Background:

Kato Prime is a relatively new online broker specializing in forex and CFD trading, established in January 2021. The company is headquartered in Belize and is regulated by the International Financial Services Commission (IFSC) of Belize. The registered address of this broker is 2118 Guava Street Belama Phase 1, Belize City, Belize.

Kato Prime offers a diverse range of tradable assets to its clientele. Among these assets are Stocks, Exchange-Traded Funds (ETFs), Cryptocurrencies, and Forex, although this list is not exhaustive. While a quick look at their homepage provides a glimpse of these available options, the website does not offer in-depth information about these specific assets.

Types of Accounts:

Kato Prime offers three different account types: K's Advanced Account, K's Raw Premium Account, and K's Raw Platinum Account.

The first account option, K's Advanced Account, mandates a minimum deposit of $15 and permits a minimum lot size of 0.01. This account stands out for its commitment to offering clients narrow spreads and expeditious trade execution. Notably, clients opting for this account can benefit from the absence of commission fees.

Secondly, the K's Raw Premium Account, a slightly higher minimum deposit of $50 is required, with the minimum lot size set at 0.01. This account type is ideal for seasoned traders, emphasizing robust security measures and the most competitive spreads available. However, it is important to note that a commission fee of $7 per lot is applicable.

Finally, the K's Raw Platinum Account caters to professional traders with more substantial investment capabilities. A significant minimum deposit of $3,000 and a minimum lot size of 0.01 are mandatory. Similar to the Raw Premium Account, this option ensures enhanced security and ultra-low spreads. Importantly, this account's commission fee per lot is relatively lower, set at $0.03.

Deposit and Withdrawals:

Kato Prime provides a variety of payment systems to facilitate seamless transactions. These options include PayVersa, AwePay, FasaPay, and credit and debit cards. Notably, each payment system is designed to cater to specific banking institutions and cards, focusing on the markets in Malaysia, Indonesia, Vietnam, and Thailand. Furthermore, these systems also extend support to globally recognized payment platforms like Visa and MasterCard.

Regarding deposit processing, all payment systems offer instantaneous transaction processing, ensuring immediate access to trading funds. Exchange rates for these transactions are either based on real-time rates or are specific to the USD and IDR, depending on the chosen payment system.

To elaborate further, PayVersa accommodates multiple currencies, including MYR, USD, IDR, THB, and VND. Likewise, AwePay is compatible with MYR, IDR, THB, and VND. FasaPay, on the other hand, exclusively handles transactions in USD and IDR, while credit or debit card transactions are conducted solely in USD.

Trading Platforms:

Kato Prime offers its clientele access to the well-regarded MetaTrader platforms, even though it does not provide a proprietary trading platform. Traders can select between the highly popular MT4 and MT5 versions, both accessible through web browsers, desktop installations, and mobile applications. These mobile apps are compatible with Android and iOS devices, ensuring that traders can engage in their activities conveniently and flexibly, even while on the move.

Research & Education:

Although Kato Prime provides trading resources and educational materials within its platform, they are somewhat limited. The broker's educational offerings seem to be primarily centred around a blog feed. This blog feed highlights the three most relevant finance-related news articles, offering users a brief glimpse into the latest industry happenings.

Customer Service:

While Kato Prime's official website does not display a contact number, customers have several communication channels to connect with the broker. They can reach out through support@katoprime.com or the online messaging service. Additionally, customers can submit messages or inquiries directly on Kato Prime's website and await a response from the customer service team.

Conclusion:

To summarize, here's WikiFX's final verdict:

WikiFX, a global forex broker regulatory platform, has given Kato Prime a WikiScore of 7.47 out of 10, indicating that it is a safe broker within the industry.

Kato Prime claims it operates under the regulation and oversight of the International Financial Services Commission of Belize, with the license number IFSC: 000392/228. WikiFX has verified the legitimacy of this license.

The IFSC is a reputable financial regulator, but it is important to note that Belize is an offshore jurisdiction. This means that traders may have less protection than they would with a broker that is regulated by a more stringent authority, such as the Financial Conduct Authority (FCA) in the United Kingdom or the Securities and Exchange Commission (SEC) in the United States.