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Kumo Markets (kumomarkets.com) says “Start trading in minutes!” and calls itself a “Professional Broker for Retail Traders”. Getting money out appears to take far longer. Deposits are accepted in two forms only, bitcoin and USDT.

Kumo Markets company file

Saint Vincent and the Grenadines lets anyone register a business company, and its financial regulator has said publicly that it does not license or supervise forex trading. A broker that points to an SVG company number is pointing to a company register, not a licence.

The KYC loop

One trader explained that Kumo checked his ID and proof of address before he could trade, and confirmed that his account was fully verified for deposits, trading and withdrawals. He deposited in crypto and traded. When he asked to withdraw, Kumo did not process it and asked for more documents.

Re-opening verification after a client asks for money is a familiar stalling tactic. Each new request buys time, and crypto deposits cannot be reversed by a bank. If a platform that has already verified you suddenly needs “one more document”, write down the date and keep its earlier confirmation email.

Repeated document requests after full verification are a known stalling tactic. Before you send anything new, ask Kumo Markets to list every document still outstanding in a single email and to confirm that the list is final. Send nothing that was not on that list, keep copies of what you submit, and never pay a fee described as a release or verification charge.

Sources: trader complaints published on an independent forex review forum (September 2021); kumomarkets.com (checked 27 October 2026); RDAP registration record. General information only.