Kurmay Global Review: Kurmayglobal.com Absurd Broker

Kurmay Global is another suspicious company. The recent pandemic has opened up countless options for folks looking to supplement their income. One of these was making money in the currency exchange market. The expansion of internet services and brokerage firms has contributed to the development of this industry.

These brokers make it easier for investors to profit from margin trading. However, contrary to popular belief, trading Forex is not a simple process. Months of rigorous training are required to become a successful trader. Since this is an emotionally taxing endeavour, learning to rein in your feelings is essential even after you’ve mastered the skill.

Con artists have also exploited the development of the FX market. These dishonest traders prey on inexperienced traders by making unrealistic promises of rapid profits. The provision of a welcome bonus is a hallmark of these sham brokers.

They guarantee that once you sign up for their services, you will never have to handle any aspect of trading. An example of such a broker is Kurmay Global. This is a broker that specializes in luring inexperienced traders. Profiting in foreign exchange requires dealing solely with reliable forex brokers. These firms have met all legal standards and will not guarantee a high return rate. However, they provide a favorable trading environment.

About Kurmayglobal.com

The company says it specializes in offering trading opportunities. They claim to use technology to provide customers with the best trading environment possible. The company allegedly strive to address tomorrow’s investment problems. They claim a cutting-edge trading platform that gives their clients instantaneous access to all the financial and other information they require. This, in turn, allows them to transact safely and reliably.

Using this broker, you can trade currencies, indices, stocks, precious metals, agricultural products, and energy commodities. The company has not provided any information about the types of accounts they offer. The company’s story is that with the help of its most significant investors, it can increase your capital base. This, in turn, promotes their prominence in brokerage services. They purportedly have knowledgeable and professional investment experts who can always assist.

Founders and Team

Employees are integral to any company. Also, there must be an administrative body of founders and current people running it. This company does not have any information regarding who runs the business. A legit company should reveal its current CEO so that people know who is operating it currently.

The company should also explain its history. Something strange we noticed about the company’s information is their requirement for a message. You apparently need to send them a message to get official information about the company. This is a red flag.

A legit company would not be cagey about who they are. According to whois.com, the website was created on 2022-01-17, updated on 2022-10-31, and expires on 2023-01-17. This means they have been in operation for less than one year and will. This is a red flag as it also means they plan to be out of the industry shortly. By then, they will have scammed many.

Kurmay Global Contact Details

Many investors worry about losing money because of forex. In light of this fact, brokers owe their clients regular updates on the status of their investments. Some brokers alter spreads, costing investors money. It’s tough to keep tabs on your trade and easy to blow your account if you don’t have your broker’s contact information.

There are three ways to contact this broker: via email, phone, or physical location. This broker is a fraud. Thus, you shouldn’t expect a prompt reply to your email. The broker has also failed to make itself available to traders via social media.

Kurmay Global Regulation Status 

Regulation is necessary. Even though many traders favor brokers with low spreads, your money is at risk if they’re not licensed. There are a lot of unlicensed offshore brokers. These brokers prefer these areas because of the relaxed regulations in place there. One of their shady tactics is to offer assurances of profit. It’s not possible to do so in the foreign exchange market.

Most traders, even the most seasoned ones, lose money at some point. As a result, you should be wary of any broker that promises you sure gains. The broker’s role is primarily that of a trade facilitator rather than a market manipulator. Also, watch out for suspicious brokers who offer large initial deposits followed by complicated withdrawal processes.

There is scant information on the official Kurmay Global website concerning the company’s legal standing. There is no way to establish their identity. Remember that con artists will frequently conceal this information so their victims will not suspect a thing.

By contrast, legal brokers are entirely honest with this crucial information. The company has an address in Hungary, thus suggesting it may be headquartered there. Something else that is confusing is that they provide two language options on their website: Turkish and British English. In Hungary, however, these aren’t the official languages. If the company is based in Hungary, it should also include its language on the website. This was a red flag.

Assuming the broker is Hungarian, as they claim, they would have to be under the European Union. Thus the broker would have to be licensed by the Central Bank of Hungary. When we searched the regulatory body’s registry, we did not find the broker. Thus, it is lying about its regulation.

If the broker were regulated, they would have to maintain a specific minimum capital to keep operating. This is to protect investors’ money in case things go wrong. They also need to have a segregated account to keep investors’ money.   

This broker has contravened this requirement which further proves their illegitimacy. The broker has also not provided their financial report on their website. This report must also include their transactions to protect investors.  

Trading Conditions

Before choosing a broker, a trader must consider conditions like spread, commission charges, swap, minimum deposit, and leverage. This broker allows traders to enter the market with even $100. There are, however, brokers who go lower than that. Another red flag we noticed is in the leverage.

The broker offers a leverage of 1:100. The European Union strictly forbids its member countries from exceeding the 1:30 leverage ratio. Although high leverage can increase profits, it also increases losses, so traders must be aware of the potential consequences.  

Deposit and Withdrawal

The broker claims to support transactions from digital currency wallets, bank wires, and cryptocurrency exchanges. Only the latter is likely to be correct, in our opinion. Most online financial scammers prefer that you pay them in cryptocurrency.

The rationale is that they prevent victims from recouping their losses while protecting their identity. Withdrawing the money may be challenging due to high minimum withdrawal requirements. 

Kurmay Global Trading Software

One of the best places to start as a trader is demo trading. When we tried to open a demo account, the website requested you write a message. This is unusual because legit brokers allow you to open a demo account without having a write any message.

We could not, therefore, access their software for assessment. Having trading software does not, however, make a broker legit. They can even have an MT5 platform and still be scammers.          

Final Verdict

Kurmay Global is a fraudulent broker. They act like they have years of trading experience when they have none. They are not qualified to offer advice on money matters or facilitate transactions. Including them in your financial strategy could be dangerous.

Those curious about foreign exchange trading can choose from a wide variety of trustworthy forex brokers. You may easily verify their credibility by looking up their official documentation on their official websites.

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