Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
8/10 · CriticalNo meaningful regulation: SVG does not license brokers and the only licence, a near worthless Comoros (Mwali) registration, lapsed on 01 November 2025; the broker admits it is unregulated.
Identity & transparency
5/10 · ModerateLegal entity, company number and SVG address are disclosed and match the Mwali register, but no owners or directors are named and the claimed London head office is unverified.
Withdrawals & conduct
6/10 · HighA real but low volume fund integrity pattern (approved withdrawals not arriving, frozen accounts) across more than one platform, offset by positive reviews and a broker that responds and sometimes resolves.
Reputation
6/10 · HighTrustpilot 2.4 out of 5 with mixed reviews, some scam accusations and a same day five star cluster that suggests planted reviews; no regulator warning found.
Website claims
4/10 · ModerateNo fake top tier licence, awards or age claim; the main issues are an unverified London head office claim and marketing that frames being unregulated as a benefit.
Operational history
2/10 · LowGenuine, verified operating history of about six years under one brand, one domain (registered February 2020) and one company (2020).
Who they are
A quick desk file on the company behind the brand.
- Brand: Kumo Markets
- Legal entity: Kumo Markets Limited, company number 25875 BC 2020
- Registered: Euro House, Richmond Hill Road, Kingstown, Saint Vincent and the Grenadines (a registered agent address). The site also claims a London head office, which could not be tied to any United Kingdom registered company under this name.
- Website: kumomarkets.com (registered February 2020), with client, trade and app subdomains.
- Only licence: Mwali (Comoros) International Services Authority registration T2023399, a near worthless offshore registration, issued 01 November 2023 with an end date of 01 November 2025.
- Offers: Forex and CFDs on commodities, indices and cryptocurrencies, on MetaTrader 4 and MetaTrader 5, plus PAMM copy trading.
- Not accepted: residents of internationally sanctioned countries, per its own restricted countries page.
- Age claim: consistent with 2020; the domain and the company both date to 2020, so about six years.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Mwali International Services Authority
Why we reached this verdict
How the evidence adds up.
We rate Kumo Markets high risk because it takes real money with no meaningful regulation, and a real pattern of withdrawal problems sits alongside its positives.
- No meaningful regulation. Saint Vincent and the Grenadines does not license or supervise forex and CFD brokers, so the SVG company registration is not a licence. The only financial licence on record is a Comoros (Mwali) registration, from an offshore registrar the Comoros central bank has publicly disavowed, and that registration's two year term ended on 01 November 2025.
- The broker confirms it is unregulated. Its own FAQ states the company is 'happily unregulated'. That is honest, but it also means no investor compensation scheme and no ombudsman if something goes wrong.
- Withdrawal complaints that concern client funds. Across Trustpilot and independent broker review sites, clients describe withdrawals that were approved but never reached their crypto wallet, accounts frozen after a period of use, and support going quiet during withdrawal. These are spread over several years rather than a single spike, and some were resolved, so the pattern is real but not a systematic freeze.
- Crypto centric deposits. Deposits are currently taken in Bitcoin, which gives a client no chargeback route if funds are withheld.
- What holds the risk down. There is no regulator warning, no sign of a clone or impersonation, a genuine six year operating history under one brand and domain, real MetaTrader platforms, and a support team that replies to and sometimes fixes complaints. That is why this is high risk rather than a confirmed scam.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Mwali (Comoros) register lists Kumo Markets Limited, company 25875 BC 2020, licence T2023399, website kumomarkets.com, issued 01 Nov 2023 with an end date of 01 Nov 2025. The entity, domain and company number all match the broker under investigation, so this is a genuine (if near worthless) offshore registration, not a clone.
E2The broker's own FAQ states that Kumo Markets Ltd is happily unregulated. This is an admission that the operation takes client deposits with no regulatory oversight or compensation cover.
E3The domain kumomarkets.com was created on 08 February 2020 and the company number 25875 BC 2020 encodes a 2020 incorporation, giving a consistent operating history of about six years under one brand and domain.
ModerateVerisign RDAP domain recordE4Trustpilot rates Kumo Markets 2.4 out of 5 across 38 reviews with a bimodal split (76 percent five star, 16 percent one star). Four five star reviews were posted from Lithuania on a single day (17 Sep 2024), an astroturf style cluster.
ModerateTrustpilotE5Specific fund integrity complaints on Trustpilot: one client (Mar 2025) says an approved withdrawal never reached their crypto wallet after the stated 2 to 5 days; another (Dec 2025) reports repeated withdrawal trouble and a frozen account with a failed MetaTrader account; another (Nov 2022) says the withdrawal was not approved. The same approved but not arriving pattern is echoed on independent broker review sites.
ModerateTrustpilotE6The broker's FAQ states deposits are currently taken in Bitcoin only (via Coinbase Commerce), with bank and card said to be coming later, and withdrawals paid in crypto. Crypto centric rails give a client no chargeback route if funds are withheld.
ModerateKumo Markets FAQ (own site)E7A sweep of the major warning lists (FCA, ASIC, BaFin, CONSOB and IOSCO) returned no alert, enforcement action or clone warning naming Kumo Markets or kumomarkets.com as at the time of writing.
ModerateRegulator warning-list sweepE8The broker's legal documents name only the SVG entity Kumo Markets Limited (25875 BC 2020) and cite no financial regulator. Saint Vincent and the Grenadines does not license or supervise forex and CFD brokers, so this registration provides no oversight.
E9The operation uses real MetaTrader 4 and MetaTrader 5 platforms with several account types and PAMM copy trading; client reviews reference their MetaTrader accounts, indicating a genuine trading platform rather than a fake in house terminal.
E10The company publicly replies to complaints on Trustpilot and one client (Apr 2022) documents that after a deposit was initially rejected, staff located the funds and credited the account, indicating some complaints are engaged with and resolved.
WeakTrustpilot
The other side
The strongest case in this broker’s favour.
In fairness to Kumo Markets, several things point away from an outright scam.
- The domain and company both date to 2020, so this is an established operation, not a throwaway site.
- The company does not fake a top tier licence or impersonate a regulated firm; it plainly states it is unregulated.
- The Comoros licence it holds genuinely belongs to this exact company and domain, so its identity checks out and it is not a clone.
- It runs real, independently verifiable MetaTrader 4 and MetaTrader 5 platforms, not a fake in house terminal.
- Positive reviews exist over several years, and the company publicly replies to complaints and has been documented recovering a client's mis sent deposit.
What would change this
What we would need to see to revise the verdict.
Our view would move if any of the following came to light.
- Toward lower risk: a genuine, verifiable licence from a respected regulator that actually supervises the entity holding client money; a clear, current pattern of clients confirming fast and complete withdrawals; and named, accountable management with a verifiable office.
- Toward higher risk: a regulator warning naming kumomarkets.com; a credible, specific demand for an extra payment (a tax, fee or insurance) before releasing funds; or a cluster of detailed, same period reports of withdrawals refused outright with amounts and dates.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Mwali (Comoros) licence register: Kumo Markets entry
Shows licence T2023399 for Kumo Markets Limited, issued 01 Nov 2023 with an end date of 01 Nov 2025.
Mwali authorised brokerage list
The full Mwali list where the Kumo Markets entry appears against kumomarkets.com.
Kumo Markets legal documents
The broker's own KYC, terms, risk disclosure and entity details.
Kumo Markets FAQ
Where the broker states it is happily unregulated and explains deposits and withdrawals.
Trustpilot reviews
Independent customer reviews, rated 2.4 out of 5.
FCA Warning List
Check whether a firm is authorised or flagged in the United Kingdom.
Frequently asked questions
Quick answers about this broker’s safety.
Is Kumo Markets a scam?
We did not find hard proof that Kumo Markets is a scam. It is an established, unregulated offshore broker with genuine trading platforms. However, it carries high risk: there is no meaningful regulator, and several clients report withdrawals that were approved but never arrived. We rate it high risk, not a confirmed scam.
Is Kumo Markets a fraud?
We found no regulator warning, no enforcement action and no fraud related court record naming Kumo Markets or kumomarkets.com, so we cannot call it fraud. What we can say is that it is unregulated and that some customers report serious withdrawal problems, so we assess the risk as high and advise caution.
Is Kumo Markets regulated?
No, not in any meaningful way. It is registered as a company in Saint Vincent and the Grenadines, which does not license forex brokers. Its only financial licence was a Comoros (Mwali) offshore registration that ran to 01 November 2025 and has now lapsed. The broker itself says it is happily unregulated.
Can I withdraw my money from Kumo Markets?
Some clients report fast withdrawals, but others report approved withdrawals that never reached their crypto wallet, and accounts frozen with a balance inside. Because it is unregulated, there is no ombudsman to force a payout, so withdrawal is not guaranteed.
Is my money safe with Kumo Markets?
There is no investor compensation scheme or segregated client money protection behind this broker. If the company withholds funds or fails, you would have little recourse. That makes it unsuitable for money you cannot afford to lose.
Who owns Kumo Markets?
The operator is Kumo Markets Limited, an offshore company registered in Saint Vincent and the Grenadines (number 25875 BC 2020). No individual owners or directors are named on the website, and the claimed London head office could not be tied to a United Kingdom registered company under this name.
How old is Kumo Markets?
About six years. The domain kumomarkets.com was registered in February 2020 and the company number encodes a 2020 incorporation, so the operation dates to 2020.
What is a Mwali (MISA) or Comoros licence worth?
Very little. Mwali is an autonomous island registrar in the Comoros, not a functioning financial supervisor, and the Comoros central bank has publicly disavowed its licences. A MISA registration signals an intent to look regulated at low cost; it gives clients almost no protection.
Is Kumo Markets a clone of another broker?
No. The Comoros licence, the company number and the SVG address all match this exact company and its domain kumomarkets.com, so it is a genuine standalone brand, not an impersonation of a regulated firm.
Why does Trustpilot show a low score if most reviews are five stars?
Kumo Markets has 38 Trustpilot reviews with a 2.4 out of 5 score. The reviews are split, with many five star entries (including a group posted on a single day) and a solid block of one star complaints about withdrawals and frozen accounts. Trustpilot weighs these factors, which is why it lands at Poor.
Kumo Markets asked me to pay a fee or tax to withdraw. Is that normal?
No. A legitimate broker deducts fees from your balance; it does not ask you to send extra money to release your own funds. Treat any such demand as a red flag and do not pay it.
What should I check before depositing with any broker?
Confirm it holds a current licence from a respected regulator that supervises the entity holding your money, check that the licence number matches that exact company and website on the regulator's own register, read recent independent withdrawal reviews, and never deposit based on pressure or a bonus offer.
Scan history
How this broker’s safety assessment has changed across scans.
What changed since September 18, 2026
- September 18, 2026CurrentHigh risk (unverified)55% risk
- September 18, 2026High risk (unverified)58% risk
Past scans are archived snapshots kept for transparency and are not indexed by search engines.
What we recommend
The practical takeaway from everything above.
If you are considering or already using Kumo Markets, treat it as high risk.
- Do not deposit money you cannot afford to lose, and prefer brokers regulated in your own country that offer compensation cover.
- If you already have funds there, request a withdrawal of your available balance now and keep written records of every request and reply.
- Be wary of any request to pay a fee, tax or deposit in order to unlock a withdrawal; that is a common trap and there is no legitimate reason for it.
- Avoid further deposits, especially large Bitcoin transfers, until you have successfully withdrawn a meaningful amount.
- If a withdrawal is refused, raise a dispute with your payment provider where possible and report the matter to your local financial regulator.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed September 18, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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