Kudotrade Forex broker review — Everything you need to know

Kudotrade operates as the trade name of Kudo Trade (Mauritius) Ltd, a financial services provider registered and supervised by the Financial Services Commission (FSC) of Mauritius. While the FSC offers a regulatory framework, it is an offshore authority, meaning it’s not as stringent as more established regulators like FCA or ASIC. Payment and support services are also handled by Kudo Systems Ltd, which is registered in Cyprus.

Let’s review the broker’s crucial features to determine its trustworthiness and reliability.

Kudotrade Overview of the website

Kudotrade’s website design is sleek and intuitive, targeted toward both new and experienced traders. The interface is clean, which offers easy navigation between account options, platform access, educational resources, and market tools. The main dashboard presents live pricing, market updates, and a simple login and registration process. Multilingual choice makes it accessible to global users.

Kudotrade Accounts Reviewed

Kudotrade offers two trading accounts, standard, and pro. With these accounts, the broker targets traders at all experience levels. Kudotrade demo account is also accessible for free, which is flexible for beginners.

Kudotrade Standard Account

The standard account has a minimum deposit of 50 USD, which is competitive. There are no commissions charged for trading and the broker claims spread from 0.7 pips on major pairs, which is very competitive. The maximum leverage is up to 1:500 and the minimum lot size is 0.01 lots, which is very flexible. This trading account is for general trading purposes and offers commission-free low-spread trading.

Kudotrade Pro Account

The pro account has a minimum deposit of 5,000 USD and has spreads from 0 pips but requires 8 USD commissions per lot round turn. This is expensive as the industry standard is 7 USD, making the broker not attractive for seasoned traders. The leverage is also 1:500 and minimum lot size starts also from 0.01 lots. Overall, this account does not seem competitive as it has high minimum deposit requirements and is expensive despite offering 0 pips spreads.

Deposit and withdrawal options at Kudotrade

Kudotrade accepts several payment methods, including:

• Debit and credit cards
• Crypto transfers
• Instant bank wire transfer

Deposits are processed instantly in most cases, while withdrawals are much slower taking 3 to 5 business days, which is longer than many competitors. Kudotrade charges no internal fees, but third-party charges may apply, especially for bank wire.

Kudotrade Assets — What can you trade?

With Kudotrade, traders can access a wide range of markets through CFDs, including:

• Major, minor, and exotic forex pairs
• Commodities like gold, oil, and silver
• Global stock indices
• Popular cryptocurrencies
• Company shares

This wide asset coverage ensures that traders can employ many different strategies and is attractive for multi-asset traders.

Trading platforms of Kudotrade

Kudotrade supports the industry-leading MetaTrader 5 (MT5) platform. It is known for fast execution, multi-asset support, and rich analytical tools. MT5 is available via:

• Desktop software (standalone installation)
• Mobile apps for iOS and Android
• WebTrader (browser-based version)

The broker also offers copy trading service, allowing clients to automatically replicate the trades of seasoned professionals.

Education at Kudotrade

To support continuous learning experience, Kudotrade provides a solid selection of educational tools, such as:

• On-demand video lessons and guides
• A comprehensive trading glossary
• Market insights and daily analysis
• Economic calendar for fundamental analysis
• Trading tutorials and various calculators

These resources are very ideal for traders who are new to trading and look for educational resources.

Kudotrade Customer Support

Kudotrade support is accessible through:

• Live chat
• Email
• Phone

Support is available in multiple languages and time zones. The live chat is directly accessible from the website while email and phone options are available in the help center of the website.

Overall, the support experience at Kudotrade is excellent and responsive, which is very important in online financial trading.

Kudotrade bonuses and promotions

At the moment, Kudotrade has no ongoing promotions. There are no trading bonuses offered such as deposit bonus or welcome bonus, which is a drawback for this broker. The lack of bonuses is a downside for beginner traders.

Is Kudotrade your broker? Final verdict

Kudotrade is a new name in the trading world with modern tools and accessible account types. The availability of MT5, diverse CFDs, and quality educational resources makes the broker competitive for traders. However, users should be cautious as the broker is overseen offshore, has high commissions for pro accounts, and very slow withdrawal processing times. The broker is more suitable for traders who want commission-less trading at competitive spreads from 0.7 pips on major pairs and at 1:500 leverage.

FAQs on Kudotrade broker

Where is Kudotrade based?

Kudotrade is operated by Kudo Trade (Mauritius) Ltd, which is registered and regulated in Mauritius.

Can you withdraw from Kudotrade?

Yes, Kudotrade allows withdrawals via cards, cryptos, and wire transfers. Processing is lengthy and takes 3-5 business days.

What is the Kudotrade minimum deposit and maximum leverage?

The minimum deposit is 50 USD for the standard account and 5,000 USD for the pro account.