Kaarat Review – Are They Safe or a Scam?
Our Kaarat Review 2024
We think that you’re going to love what we found in our Kaarat review. Take a look below and see why Kaarat is worth a look for forex and crypto trading!
So what is Kaarat? Well, it’s an online trading platform that gives you the ability to trade forex, crypto and over 1,000 other assets. You can simply sign up, download the trading software and build up your portfolio. Let’s take a closer look at how this online broker works in our comprehensive Kaarat review!
At the moment, it looks like there is nothing in the way of any kind of sign up offer at Kaarat. But don’t worry about that because this online broker makes it effortless to get started at its online trading platform. Here’s what you need to do:
First of all, you just have to hit the Sign Up icon, and then enter in your name, email, phone number, date of birth, home address and select your base currency. This can be anything from US dollars, British pounds and Euros all the way through the Thai baht and Australian dollars.
There’s also the option here to enter in a referral code. Next it’s just a matter of verifying your identity through the KYC procedure. This basically means sending in a scan of some kind of government-issued personal identification such as a passport. Once that’s done, you’ll find your account is swiftly verified. From here, you can simply make your opening deposit of $250 or more and start trading. Easy!
Kaarat probably isn’t going to win any awards for website innovation, but what it does give you is a very easy way to navigate around its online trading site. We must have gone from initially loading up the site to sending off our account details in a matter of minutes, and this ease of use is extended through to everything from making a withdrawal to contacting customer care.
We’ll talk later about how the trading platforms function, but the basic fact is that Kaarat keeps its operations running smoothly. Plus there are lots of helpful features like the ability to switch the site language between English, French, German and so on.
We would definitely recommend that you download one of the Kaarat apps. These are available for iOS and Android devices, and they offer you pretty much everything you get on the trading site in the palm of your hand. All in all, a very user-friendly online broker.
We found that there are seven different types of trading accounts at Kaarat. Each of these features a varying minimum deposit that’ll get you a range of perks and extra features.
You can start off with a Basic account for making a deposit of just $250. Here you’ll get access to all of the major instruments, leverage of up to 1:400, mobile trading and even some free education tools. By upping your deposit to $15,000 you could access the Standard account or even reach the Premium account level by depositing $50,000 or more. Just bear in mind that you’ll get daily signals if you deposit $100,000 and get the Ultimate account.
But it doesn’t stop there. This is because Kaarat has three more account types for VIPs and professionals. These are labeled Gold, Platinum and VIP and they can be reached by depositing $500,000, $1 million and $10 million respectively. We’re not sure who’s got that kind of money to throw around, but getting these kinds of accounts could earn you benefits like custom instruments, Islamic conditions and access to special events and conferences.
You get a choice of three different kinds of trading platforms at Kaarat. These come in the form of a trading terminal you can download to a Windows PC, a web-based trading platform you can use from a browser, or the aforementioned apps for iOS and Android devices.
We found that each of these platforms offers a good amount of technical analysis tools that allows you to get the most out of this multi-asset trading site. Here you’ll find the full range of trading orders such as pending and stop orders, and there’s enough flexibility here to handle all types of traders and strategies.
Alongside the four order execution codes, we were impressed with the sheer speed of the Kaarat trading software. There was barely any slippage here and the whole platform proved to be remarkably responsive no matter what we threw at it. All in all, a top trading experience.
We found that it was remarkably quick and easy to put down the minimum $250 deposit to get started at Kaarat. You’ll find a familiar range of payment methods for putting your money down which include all of the regular cards, as well as bank transfers and so on. We were impressed to find that our deposits went through almost instantly and there were no charges for adding money to our account.
It’s a similar state of affairs for making withdrawals, although you should remember that there is a $50 minimum withdrawal threshold for wire transfers. Obviously the withdrawal processing time varies according to the kind of payment provider used, but we found that it rarely took longer than a handful of business days for the money to reach us.
Fees – A good Kaarat review for fees and charges
Kaarat is nicely transparent in how it handles the inevitable fees and charges you face on its trading platform. There’s a good amount of information about this in the Kaarat terms and conditions, but on the whole, you shouldn’t face any unexpected fees here. This means that you can do things like make deposits and withdrawals, and even carry out your online trading without being shocked by a sudden fee.
Kaarat is clearly an online broker that wants to take care of its customers. This is something that can be seen in the Contact page of the website where you will see that there are many ways to get in touch with the customer service team.
Our favorite option here was to use the fast and effective live chat option, but there is also email support and even a telephone hotline if you feel like speaking to an actual human. We’re not totally sure whether the customer support is available 24/7, but we always managed to get through to someone.
The only thing missing here was the total lack of anything resembling a FAQ. However, with the ever-present live chat as well as the Kaarat Twitter and Facebook channels, you should feel well taken care of here.
If you learn one thing from all of this it’s that Kaarat is a safe, respectable and legit online trading platform. The fact that it has a registered business address in St. Vincent and Grenadines shows that it is acting in a fully transparent way with nothing to hide.
This means that you can trade at Kaarat from pretty much anywhere in the world with the exception of a few countries such as the US. We should mention the fact that Kaarat’s website uses standard encryption technologies to ensure your personal data stays safe. Plus there is plenty of legal documentation on the Kaarat site to make sure you understand how things like the KYC and AML procedures work.
One of the best things about Kaarat is the fact that it has a cool social trading feature. This is where you can simply copy the trades of what some more experienced traders have been doing. It’s a great way for newbies to pick up some of the tricks of the trade although you should obviously be careful about who you follow!
Kaarat has done a decent job with giving you a safe and easy way to trade online. The whole site is geared around simplicity and ease of use and this is something backed up by the fact that you can get started here with just a $250 opening deposit. So whether you want to trade crypto or forex, be sure to give Kaarat a try!