Introduction
If you’re looking for a new forex broker, you may have come across Drummond.co.ke. But is this broker legit or a scam? In this review, we’ll take a look at what Drummond.co.ke has to offer and help you make a decision on whether or not it’s right for you.
What is Drummond?
Drummond is a forex broker that offers online trading in currencies, CFDs, and precious metals. The company is headquartered in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC). Drummond offers a variety of account types to suit different traders, including a demo account for those who want to try out the platform before committing to a live account. The minimum deposit for a live account is $500, and leverage is up to 1:200. Spreads start at 0.6 pips on the EUR/USD pair.
Is Drummond a Legit or Scam Forex Broker?
It can be difficult to trust forex brokers these days, as there are so many scams out there. So, is Drummond a legit or scam forex broker?
Drummond is a registered forex broker with the Kenyan Capital Markets Authority (CMA), so they are definitely not a scam. They offer various account types and leverage of up to 1:500, which is quite high.
The spreads on their Standard account start at just 0.01 pips, which is very low. However, the minimum deposit for this account type is $1,000, which may be too high for some traders.
Drummond also offers an Islamic account for Muslim traders who want to trade in compliance with Sharia law. This account has no swap or rollover fees.
Overall, it seems that Drummond is a legit forex broker that offers good conditions for trading. However, the minimum deposit requirements may be too high for some traders.
Pros and Cons of Drummond
When it comes to online forex brokers, there are a lot of choices out there. So how do you know if Drummond is the right broker for you? In this review, we’ll take a look at the pros and cons of this broker to help you make an informed decision.
PROS:
-Trusted and regulated by the Financial Services Authority (FSA) of Kenya
-Offers both MetaTrader 4 (MT4) and WebTrader platforms
-Competitive spreads starting from just 1 pip
-Leverage up to 1:500
-Negative Balance Protection ensures that you will never lose more than your account balance
CONS:
-No US clients accepted
How to Deposit and Withdraw with Drummond
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Drummond.co.ke is a popular online broker that offers forex trading services to its clients. In order to deposit and withdraw funds from your account, you will need to use the company’s online banking system. The process is simple and straightforward, and can be completed in just a few minutes.
To make a deposit, simply log into your account and click on the “Deposit” button. You will then be prompted to enter your desired amount and select your preferred payment method. Once you have confirmed your transaction, the funds will be deposited into your account instantly.
To withdraw funds, click on the “Withdraw” button and enter the amount you wish to withdraw. Again, you will be given the option to choose your preferred payment method. Once you have confirmed the withdrawal, the funds will be transferred from your account within 1-2 business days.
Conclusion
Looking for a Drummond.co.ke review? You’re in the right place. In this article, we’ll take a close look at this popular forex broker to see if it’s legit or a scam. We’ll also discuss some of the features that make this broker stand out from the crowd. So, is Drummond.co.ke a legit forex broker? Yes, it is. This broker is licensed and regulated by the Financial Conduct Authority (FCA), which is one of the most reputable financial regulators in the world. This means that your funds are safe and secure with Drummond.co.ke. If you’re looking for a reliable and trustworthy forex broker, then Drummond.co ke should definitely be on your radar.