Interested in getting into the online trading game? 2021 is one of the most exciting times to get into this industry, and yet there are many who still feel hesitant. This is due to still a large number of scam operations. Today we address Kiexo, who has been in the news lately, and not the good reason. This brokerage was founded recently in the midst of the 2020 pandemic outbreak. With no trading pedigree, it tried to lure traders in with a plethora of promises. Indeed, when you go to their homepage, it is full of bells and whistles. But, according to the trading community, there is much more underneath the surface. We wanted to take a closer look for ourselves, and now we are ready to submit our findings in this detailed Kiexo review. Be sure to stick around until the end to find out whether this brokerage is worthy of your time and money.
You would be forgiven if you didn’t even realize that Kiexo offers various accounts to its users. None of this information is advertised on the homepage, and you have to do some serious digging to find all the relevant information. There is a healthy balance between what is on offer, and there is even more account tier than what is on offer with the competition. There are 8 distinct one’s, and below is a detailed breakdown of each one of them.
Shockingly low price of $2,50 is meant to serve as a replacement for a true Demo experience. This will be an entrance for many new traders, and you get access to the platform and some limited educational material for beginners.
This tier starts at $10.000 and offers additional markets such as indices and energies, access to weekly signals and multiple execution orders.
One step above is the trader tier that requires a deposit of $30.000 You get in-depth investing tools, “fundamental trading materials” (although it is unclear what that means) and low market pricing.
- Trader Pro
$100.000 surprisingly doesn’t get you much more. Daily technical and main materials in addition to complex charting and indicators are the highlights of this account type.
As you begin to reach the bottom of the list, you start gaining more and more important features including a customized trading portfolio and advanced global market instruments. The asking price is $500.000
- Expert Pro
If you are in need of an Islamic account, then Expert Pro is the lowest tier you can choose. It requires a deposit of $1.000.000. This tier also includes improved trading conditions with lower prices across the board.
To reach the VIP level you need to deposit a hefty chuck of $5.000.000. High-end rollers will appreciate thousands of market product at their disposal and customized investing materials.
- VIP Pro
Like most other brokerages, Kiexo keeps their top of the range offer invitational only. This way they get to target the exact clientele they wish. The exact list of perks can be found on their “accounts” page. The list seems attractive enough, but we imagine that your trading volume will be the biggest deciding factor.
Kiexo does provide some educational resources to its clients, but it takes a completely different approach than many of its competitors. Not a lot is offered upfront, in fact, non-paying customers only get the bare minimum. There is a lot of talk regarding knowledge and its importance, but in practice, you only get access to three tools. These include the economic calendar, pivot point calculator and the Fibonacci calculator. While individually these are helpful to seasoned veterans who know what they are doing, a complete beginner will be forced to search for tutorials elsewhere on the web. This is unfortunate especially given the almost standard practice nowadays that brokerages offer a much more substantial educational package that is suited for traders of all levels. Kiexo does offer some additional educational perks to its paying customers, but if you are willing to learn more about the industry before registering with Kiexo, you will be out of luck.
Let’s address what is provided starting with the pivot point calculator. With it, you can calculate support and resistance levels for future bars. Calculating the pivot points of all available assets can be done fairly quickly. It is essentially a simplistic tool that does come in handy if you know how to utilize these findings. It does require a certain knowledge that Kiexo simply does not provide upfront. So essentially, this is a tool that a minority of this brokerages client will end up using to its fullest potential.
A similar story is with the Fibonacci calculator. If you understand technical analysis, then this is the tool for you. There is a very simplistic tutorial on how to use the calculator, but without the deeper understanding of what those values actually mean, you cannot really use them properly. We have to note again how much it would be beneficial for users if they simply had a small educational portion dedicated to this, but Kiexo fails to address this need.
Finally, there is the economic calendar. Technically it is the simplest of the three, but it holds the most value to novice traders. This tool can actually be used by anyone, regardless of their skill. There is a nice layout of all upcoming events that have an impact on the global market with actual forecast and previous values. There are several time frames you can select, and these do a good job in helping traders plan out their current and future investments.
There are several options to trading with Kiexo but not all of them are made equal. Kiexo developed their own platform from the ground up and we have mixed feelings about it. There are several ways to access it. You can download the whole thing from their website, access the slim version via the Web Trader or download the mobile app for Android or iOS.
Compared to some industry standard solutions such as Meta Trader, Kiexo offers a lacklustre platform that fails to compete with MT’s complexity and still manages to perform as bad or even worse in some situations. Most brokerages who develop their own software try to address some of the industry shortcomings and they advertise the hell out of it. This is not the case with Kiexo. Their solution is pretty light on features and you would expect that this was done intentionally to boost the performance. In practice, you still get a buggy mess of a platform that struggles to execute even the simplest orders.
The situation is not much better with the Web Trader. You receive an even more stripped-down platform that can technically run anywhere but is probably best suited to simply checking on your portfolio and nothing else. If you prefer trading on the go, Mobile apps are probably the way to go but be aware that these apps are not located on the Android and iOS app store, but rather you are given a direct download, which is far more cumbersome to install.
Kiexo offers 24 hours a day support 5 days a week, and you have three ways of reaching one of their representatives. You can either send an email, give them a call, or chat with them with the help of the quick chat feature. None of these managed to meet our, admittedly, pretty high standards. Sending an email proved to be the most effective way of dealing with issues. In practice, you will have to wait anywhere from a day to three days to get a reply, but at least what you get is pretty satisfactory. Using the other two methods will most likely get you more frustration than good answers. Their call operators can especially be rude and unprofessional at times. The chat option is even more useless given that it mostly just directs the user to the F.A.Q. page. If possible, we would advise against using the chat feature entirely.
There is a very detailed explanation of how depositing and withdrawing your funds works on Keijo’s terms and condition page and we strongly advise you to go through it all. Basically, the available methods vary from county to county and more importantly your selected account type. In addition to transferring fiat currencies, you can also work with cryptocurrencies, but be aware that according to this brokerage, “accepted digital currencies may vary and change from time to time”. So, before committing, be sure to contact their support team, and find out what options are available to you based on your location and trading needs.
To conclude our Kiexo review, we have to note once again that we are disappointed with what is on offer. Given how far some competitors have pushed the industry norm, Kiexo falls behind in some key aspects. There is room for improvement, and with enough will and commitment, it can evolve into a reputable brokerage, but as it stands, we cannot give Kiexo our recommendation. Until we see some big improvements, we would advise you to look for better alternatives. You can check more of our reviews to find out who suits your needs.