Unregulated but definitely operational from the overseas country broker Knight Service Group Limited was founded in 2016. It offers CFDs over foreign exchange and other trending assets. It alleges to be partners of the banks worldwide and liquidity providers. MetaTrader a technologically superior and versatile trading platform is offered on which generous maximum leverages and competitive spreads are provided. The group has two different websites namely www.ksgmarkets.com and www.knightmarketltd.com to serve traders from different continents. Looks like a good offer? Well, it’s not. The broker operates without a licence and red-flagged by financial authorities. This Knight Service Group Limited review is a complete abstract of brokers advantages and disadvantages. Read full Knight Service Group Limited review here.
About Knight Service Group Limited:
The broker is virtually anonymous and it fails to give insight on all the critical aspects required to start trading with it. What is worse that New Zealand’s local financial authority Financial Markets Authority has blacklisted this broker. Also, the UK based Financial Conduct Authority has issued a scam warning against Knight Service Group Limited. Furthermore, the owner of this broker had a different name Business Choice Partners Group Limited previously. Such things are seen in the scam brokers only like multiple websites, change in name and change in official address. Traders must take care before trading with such scam brokers.
The broker provides a well-known trading platform Meta Trader but in front of unregulated nature, it could not provide benefits to traders. The broker claims to offer 0.7 pips spreads on EURUSD. It is quite affordable spreads. The leverage of 1:500 are higher but are quite attractive. Nevertheless, such higher leverages are completely abolished in the controlled brokerage markets. The broker does not take efforts to show minimum deposit require to perform trading with it. In addition, no payment and withdrawal details are shared.
Is Knight Service Group Limited scam or legit?
The brokerage services provider Knight Service Group Limited is virtually anonymous and unregulated. Also, it is been blacklisted by New Zealand’s Financial Markets Authority and red-flagged by the United Kingdom’s Financial Conduct Authority. We don’t know what the minimum deposits are and how many trading accounts it provides. The leverage levels of 1:500 that are blocked in regulated brokerage markets are offered. Therefore, Knight Service Group Limited is a potential scam broker 2020. It will be a good idea to keep such scam brokers at bay.