KDFX is not a reliable platform and its claim about regulatory status cannot be trusted.
KDFX claims to be registered in the UK with company number 12133926. While there is a company called KDFX LTD in the register of the Companies House (CH), this company fails to seek authorization from the Financial Conduct Authority (FCA). This is a red flag.
What's more, this broker purports to be registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under Reg number 24879 IBC 2018. Such assert cannot be considered as the support for its legitimacy in forex trading. Firstly, the SVG FSA has explicitly stated that entities engaging in forex trading and brokerage are not licensed from this jurisdiction. Secondly, there isn't any data in the register of this offshore watchdog matching the purported license. As such, we have come to the conclusion that KDFX's offerings of trading services remain unsupervised and unlicensed.
Since KDFX is an unlicensed broker, it is highly risky to deal with it. Without regulatory oversight, investors engaging with this platform are exposed to fraud or identity theft. Therefore, to mitigate such risks, it is advisable to find a fully regulated broker and stay away from unlicensed ones like KDFX.
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