KryptoFX Review Is KryptoFX A Scam Or Legit Broker

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KryptoFX Review: Is KryptoFX A Scam Or Legit Broker?

KryptoFX Review: Should I do business with kryptofx.com? KryptoFX is allegedly an intuitive and customer-oriented platform for investors who want to make money with Forex and cryptocurrencies. It is a broker that allows its customers to trade cryptocurrencies. It has its own trading platform, but according to its presentation it will allow you connect to Crypto exchanges.

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What You Should Know About KryptoFX before Trading With Them:

According to KryptoFX, their site is operated by System Tech 5 LTD. KryptoFX seems to be a Forex and Cryptos investment outlet that connects investors with multiple exchanges. The site has also implemented a charting solution. This is an elementary feature which the site is taking great pride in. The option for multiple Crypto exchanges is quite unique as many similar platforms lack the feature.

Should You Consider Trading With KryptoFx?:

The answer is a blatant NO. KryptoFX is not what it seems to be. Below are reasons why you shouldn’t consider trading with Kryptofx:

  • KryptoFX makes use of fake testimonials. From our findings, the pictures in the testimonials are not from real customers but rather gotten from stock photos.
  • Kryptofx operates illegally. It has no license with FCA and thus is unregulated. It is obviously offering CFD trading, not real and direct crypto trading, without being authorized to do so. KryptoFX has no licence, therefore it is an illegal broker.
  • The option is connect to other Crypto exchanges is hidden, this is very risky because you would have to provide your API keys, which would effectively give full control over your money on exchanges to KryptoFX.
  • Kryptofx.com claims to be operated by System Tech 5 LTD, but from our findings, this company was dissolved on 4th April 2020. What does this information tell us? It tells us that KryptoFX is operated by a company that got dissolved long time ago. That is a red flag that must not be ignored. If KryptoFX was related to this company, we don’t see why they should continue operating this investment brokerage claiming that they are affiliated to the dissolved company.

CONCLUSION:

KryptoFX is a scam and unregulated Crypto broker, We recommend staying away from it.

TBBOB

Fighting online scams since 2020

WARNING, KryptoFX is a scam broker – review

In this review we provide reasons for not to trade financial markets with KryptoFX.

KryptoFX is a broker that allows its customers to trade cryptocurrencies. It has its own trading platform, but according to its presentation it will allow you to connect to crypto exchanges.

Should you consider trading with KryptoFX?

Table of Contents

KryptoFX scam

We examined KryptoFX and our conclusion is that it is a scam broker.

Fake testimonials

The proof that KryptoFX is a scam broker is in their testimonials. They are fake.

Check our picture to see that stock photos are presented as picture of real clients, which of course is fraud.

Not regulated

Another problem of KryptoFX is that it is obviously offering CFD trading, not real and direct crypto trading, without being authorized to do so.

The broker is based in the UK and CFD brokers in the UK need a licence from the Financial Conduct Authority. But KryptoFX has no licence, therefore it is an illegal broker.

Exchange API?

When testing the KryptoFX platform, we did not find the function to connect to real crypto exchanges.

But if it is hidden somewhere, it is another dangerous thing, because you would have to provide your API keys, which would effectively give full control over your money on exchanges to KryptoFX.

Conclusion

KryptoFX is a scam and unregulated crypto broker, so we recommend staying away from it.

If you want to trade cryptocurrencies with a broker, start on a free demo with a regulated one.

With regulated brokers your money is insured.

KryptoFX Review

KryptoFX (KryptoFX.com) is a customer-oriented, intuitive, online trading platform that features forex and cryptocurrency investments. Choosing to invest with this platform will permit investors to execute investments from a single account across multiple exchanges. Sounds like a pretty sincere and attractive offer, right? Well this exactly is what Krypto FX is hoping to achieve, to deceptively mislead you, the investor, of your hard-earned money by committing with their authentic appearing platform. Curious to learn more about the twisted and deceitful measures engaged by this brokerage? We suggest you continue reading on then!

Who is Behind KryptoFX?

The only identifying elements we are provided in regards to the ownership of this site is found on the Contact Us page. According to that section, this site is operated by a corporate entity known as System Tech 5 LTD. Although the Terms and Conditions will hint to us that kryptofx.com is owned and operated by a corporate entity known as “Krypto FX,” we have been unsuccessful in validating that truth. A search with the Better Business Bureau, OpenCorporates and deep search engine queries have not spawned any records or results that “Krypto FX” is an authentic or operational company.

Fortunately though, we were able to yield some results regarding the company known as System Tech 5 LTD. According to beta.companieshouse.gov, System Tech 5 LTD is a private limited company that has been dissolved since April 4th, 2020. Filed under the company number 09315004, System Tech 5 LTD registered office address was 3 Bolsover Street, London, England w1W 6AB. Essentially what this indicates to us would be that this investment firm is owned and operated by a company that is currently not active, which is a red flag!

Krypto FX Offer

The main attraction of this site would be how optimal the investment experience appears to be for the prospective investor. Although Krypto FX claims to be a forex and cryptocurrency platform is actually appears to be nothing more than an investment outlet that can allow investors to invest among a multitude of different exchanges. The investment experience is further heightened with the simple addition of a charting solution, which is an elementary addition, but the site appears to take great pride in this standard innovation.

No mention of minimum deposits or investment procedures are mentioned on the site which leads us to deduce that once you do commit and sign up with this brokerage that the minimum deposit quantity will be revealed. Since you cannot singularly invest through Krypto FX own trading platform investors are provided with the opportunity to invest with one of the following exchanges: Bittrex, Bluetrade, Poloniex, OKCoin, CryptoX, Vaultoro, Cryptonit and BitStamp.

Among the supported assets that can be traded among these various exchanges would be Bitcoin, Ethereum, Ethereum Classic, Ripple, Litecoin, NEM, Dash, BitShares, Stratis, Monero and PotCoin. The forex aspect of KryptoFX shows up in the form of pair options and in the deposit protocol where investors are able to deposit with cryptocurrencies or fiat currency. Since the platform featured on kryptofx.com enables a charting solution it should be recognized that investors are able to use this platform with technical indicators and custom alert options.

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Suspicious KryptoFX Elements

There are a few elements found on the site that definitely raise some red flags. Among the chief component would be how we mentioned earlier that this site is operated by a company that is no longer active. Meaning that the creators behind this site are no longer legally accepting responsibility for issues that may arise for investors who are using this platform. Another element we found highly deceitful would be how the provided on the site are all phony.

As you can infer, the testimonials provided are fictitious and nothing more than stock images. It is obvious that the purpose behind these fake testimonials would be a desperate attempt to earn your trust through illicit marketing techniques. Furthermore, all of the exchanges that are compatible with the KryptoFX platform appear to be completely untrustworthy and malicious scam operations. Take for example the feedback we found on Bittrex, Bleutrade and Poloniex on BitcoinTalk.org. The feedback found regarding each of these untrustworthy exchanges is troublesome and should be evidence enough that Krypto FX cannot be trusted.

Popularity

During the time of writing this review, KryptoFX.com had a SimilarWeb global rank of 1,177,290. Much of their traffic comes from visitors residing within Belgium which logically equates to how this site has a rank of 32,920 in Belgium.

Krypto FX Review Conclusion

KryptoFX pulls off a rather convincing act as appearing as a legitimate cryptocurrency and forex trading destination. Allegedly operated by a dissolved company known as System Tech 5 LTD, it appears that no one is trying to claim responsibility for the questionable operations that are taking place at this site. Providing phony testimonials to build your trust is a pitiful marketing tactic along with working solely with blacklisted exchanges earns KryptoFX a one-way ticket as a trading platform that is untrustworthy and not worth your time.

Our Conclusion – KryptoFX is a SCAM!

KryptoFX Reviews

SYSTEM TECH 5 LTD is also used in the “Terms & Conditions” of the scam site Good-Crypto.com, which has nothing to do with Arup Group (arup.com), a huge civil engineering firm.

Am experiencing serious problems with KryptoFX leading me to believe it is true that they’re phony. Problem is i have already them my details. How can i acquire my money. cant even withdraw. nobody is replying

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