ANSWER Dear Investor,
After investigation, we classify Kite Forex as a suspicious and unregulated platform.
Its website states only that Kite Forex is a trading name of Kiteforex Ltd and claims registration with the Financial Services Authority (FSA) of St. Vincent and the Grenadines. However, our search of the SVG FSA registry found no record of Kiteforex Ltd. Even if such a registration existed, it would only indicate an International Business Company (IBC) status, not a financial or forex license, as the SVG FSA does not regulate trading activities.
Kite Forex also mentions having offices in Taiwan and Australia, yet a check of the registry of the Australian Securities & Investments Commission(ASIC) yielded no matching entity. There is no evidence of regulation by any credible authority.
Given the lack of verifiable licensing, Kite Forex appears to be operating without authorization and may pose a fraud risk. We strongly advise you to avoid any trading activities with this platform.
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