Kraemfoxtra

Note: Kraemfoxtras official site - https://www.kraemfxtra.com/en/index is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

What is Kraemfoxtra？

Kraemfoxtra is an offshore forex broker registered in the United Kingdom, claiming to offer various trading instruments with floating EUR/USD spreads around 0.1 pips and leverage up to 1:200 on the MT5 trading platform.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Kraemfoxtra Alternative Brokers

There are many alternative brokers to Kraemfoxtra depending on the specific needs and preferences of the trader. Some popular options include:

• FXCM: a well-established broker known for its comprehensive range of trading tools, educational resources, and competitive pricing, making it a recommended choice for traders looking for a reputable and feature-rich platform.

• Markets.com: a user-friendly broker with a wide selection of financial instruments, excellent customer support, and innovative trading features, making it a recommended option for traders seeking a user-friendly trading experience.

• TeleTrade: a regulated broker with a strong presence in the industry, offering a variety of trading instruments, comprehensive educational materials, and personalized support, making it a potential choice for traders looking for a reliable and supportive trading environment.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is Kraemfoxtra Safe or Scam？

Given that the suspicious United States National Futures Association (NFA, License No. 0547159) license and unavailable website, it is advisable to exercise caution and refrain from engaging with Kraemfoxtra until you can gather more information. It is essential to protect your funds and personal information by choosing reputable and regulated financial service providers. Consider conducting thorough research, seeking advice from financial professionals, and relying on trusted sources before making any decisions.

Remember, it's always better to err on the side of caution when it comes to your financial well-being.

Market Instruments

Kraemfoxtra offers a diverse range of trading instruments across various asset classes. Traders can access the forex market, allowing them to trade major currency pairs, cross pairs, and exotic currency pairs. Additionally, Kraemfoxtra provides opportunities for trading precious metals like gold and silver, enabling users to take advantage of price movements in these valuable commodities.

Commodity trading is also available, enabling traders to speculate on the prices of commodities such as oil, natural gas, agricultural products, and more. Furthermore, Kraemfoxtra offers Contract for Difference (CFD) trading, allowing users to speculate on the price movements of various financial instruments like stocks, indices, and cryptocurrencies.

Accounts

Kraemfoxtra provides traders with a range of account options to suit their needs. They offer a demo account, which allows users to practice trading in a risk-free virtual environment, helping them familiarize themselves with the platform and test their strategies.

The Standard account is designed for regular traders and typically requires a minimum deposit of $500. It offers access to the full range of trading instruments and features available on the platform.

For traders seeking additional benefits and personalized services, Kraemfoxtra offers a VIP account. The specifics of the VIP account may vary, but typically it provides premium features such as lower spreads, dedicated account managers, priority customer support, and potentially other exclusive perks.

Leverage

Kraemfoxtra offers leverage options to enhance trading potential. By default, the leverage provided is set at 1:100, which means that for every unit of capital, traders can control 100 times that amount in trading positions. This allows traders to amplify their exposure and potentially increase their profits or losses.

Additionally, Kraemfoxtra mentions an even higher leverage level of 1:200, which provides traders with greater buying power. Higher leverage can offer the opportunity for larger trading positions with a relatively smaller capital investment.

However, it's important to note that while leverage can magnify potential gains, it also increases the risk of losses, as losses are also amplified. Traders should exercise caution and fully understand the implications of using leverage before employing it in their trading strategies.

Spreads & Commissions

From the demo MT5 accounts, we can see that the EUR/USD spread is floating around 0.1 pips. Spreads refer to the difference between the buying and selling prices of a trading instrument and can vary based on market conditions and account types. However, due to the inaccessible website, we cant get any info on commissions.

Typically, brokers provide transparency regarding spreads and commissions, outlining the costs associated with trading various instruments. Evaluating the costs associated with trading is crucial for traders to make informed decisions and assess the competitiveness of the broker's pricing structure.

Below is a comparison table about spreads and commissions charged by different brokers:

Note: The information presented in this table may be subject to change and it is always recommended to check with the broker's official website for the latest information on spreads and commissions.

Trading Platforms

Kraemfoxtra offers the popular MetaTrader 5 (MT5) trading platform. MT5 is a comprehensive and feature-rich platform that provides traders with a powerful and intuitive trading experience.

With Kraemfoxtra's MT5 platform, users can access a wide range of financial instruments, including forex, commodities, indices, and more. The platform offers advanced charting tools, technical analysis indicators, and customizable trading strategies. Traders can execute trades quickly, monitor real-time market prices, and access historical data to inform their trading decisions. MT5 also supports automated trading through the use of expert advisors (EAs), allowing users to implement algorithmic trading strategies.

See the trading platform comparison table below:

Deposits & Withdrawals

Kraemfoxtra is an online platform that exclusively utilizes cryptocurrencies for deposit and withdrawal purposes. When making a deposit, users are required to transfer their chosen cryptocurrency to their Kraemfoxtra wallet address. Once the deposit is confirmed on the blockchain network, the funds are credited to the user's account balance.

Kraemfoxtra minimum deposit vs other brokers

In terms of withdrawals, users can request to transfer their cryptocurrency balance to an external wallet address. Kraemfoxtra then verifies the withdrawal request and processes it, sending the requested amount to the provided wallet address upon confirmation.

However, other popular payment methods that most regulated brokers offer, including credit/debit cards, bank wire transfers and e-wallets like Skrill and Neteller are not available.

Customer Service

Kraemfoxtra offers customer service via email through two email addresses: info@kraemfxtra.com and info@kraemfoxta.com. Additionally, Kraemfoxtra has a physical office located at 25 Ropemaker Street, London EC2Y 9AN, which suggests that customers can also have the option to engage with the company in person if needed. Other more direct contact ways such as live chat support and phone are not available.

Conclusion

In conclusion, the lack of specific details about the company, including its regulation, website accessibility, and available customer reviews, makes it difficult to assess the safety or legitimacy of Kraemfoxtra as a financial service provider. The mention of potential red flags, such as unauthorized NFA license and website unavailability, raises concerns. It is crucial to exercise caution and conduct thorough research before engaging with Kraemfoxtra or any financial service provider. Consider seeking advice from financial professionals and relying on reputable sources to make informed decisions regarding your investments.

Frequently Asked Questions (FAQs)