CryptoKG online broker operating in the UK is considered a scammer with a bad reputation
If we go to the official website of CryptoKG - CryptoKG.com, we will read that the company under study provides services for Forex operations in Britain. In addition, CryptoKG offers services for financial activities.
Our specialists examined the CryptoKG website, got acquainted with the working conditions, made a ride to get test access to the programs, looked at the availability of papers, the place of registration of the organization.
With the help of the information received, we will find out: Is CryptoKG a scam or not?
In addition, we will explain to you how not to fall into the networks of deceivers, about their ways of working. We will tell you the necessary information to keep your finances safe.
CryptoKG is located in an offshore country
The main signal that CryptoKG.com is a scam is the region of residence. The company is documented in the Republic of the Marshall Islands, which is already doubtful, since it operates in England. Offshore regions attract the attention of scammers due to the lack of the need to comply with the law and regulation.
Moreover, this country does not have the authority to work on the Forex market.
In addition, when our experts tried to identify the legal address, information about the owners and management of CryptoKG.com, they could not find anything.
This already shows that CryptoKG is a shadow broker, working with which will result in significant financial losses.
No information about the organizers of CryptoKG was found
After analyzing the website, our experts have not been able to find any truthful information about the owners of CryptoKG.com. No physical or legal address, no telephone or other methods of contact.
We assume that this means that the actual directors try to hide the data about themselves in order to avoid responsibility for their actions. And even if you manage to catch one of the CryptoKG managers, then everything will end with this, and the actual leaders of the criminal firm will remain at large.
CryptoKG, official website - CryptoKG.com, is less than thirty days old
The official website of CryptoKG.com talks about the serious experience of Forex operations.
The most common method for checking any website is to obtain domain information. Basically, they indicate the period of operation of the domain, information for contacting its owner.
In our case, the CryptoKG domain name works for less than thirty days, and the information about the individual who owns it is classified. Another evidence that the organizers of CryptoKG are trying to keep their incognito.
This desire can be supported, but not in those cases when it comes to a financial institution that works as an intermediary between a client and Forex.
At the same time, CryptoKG themselves assure their potential users that they have been successfully working on Forex for a long time.
CryptoKG does not have a demo period
It is a common practice for online brokers to provide users with a demo version of their software so that they get acquainted with the interface, try out their capabilities in playing the Forex financial market with fake money.
Unfortunately, on the CryptoKG.com website, we did not find information about the trial period, the opportunity to try the software.
Most likely the organizers of the CryptoKG organization most likely do not plan to provide customers with trial access to paid software, as someone is able to begin to suspect a scam.
Broker CryptoKG.com operates with a negative score
Official companies that work on Forex do not use a negative account in their activities. By law, the client of an Internet broker is not able to spend more now is on the balance sheet. In rare cases, when the account goes negative, the loan will be required to be repaid not by the client, but by the company that offered the services.
In accordance with this, registered online brokers do not use a negative account in their activities.
However, CryptoKG offers traders work with a negative account, that is, on credit.
Why is it necessary?
In order to drive the client into a minus and extort to pay the debt. This is one of the most popular methods of deception used by financial scammers.
If this has already happened, you need to know that deceivers do not have the opportunity to recover finances under the law of England. Any methods of influencing you are considered criminal. The maximum that criminals can do is call, send letters with demands.
It is impossible to cooperate with CryptoKG, since attempts to negotiate will result in new losses.
CryptoKG operates with a credit ratio of one to 400 or more
At this point, it is clear that CryptoKG are scammers. And nevertheless, we will point out one nuance, namely, the presence of too much leverage.
The credit ratio is the ratio of funds of clients and online brokers when making a trading operation. Leverage makes it possible to conduct significant trading transactions for traders who do not have the appropriate funds freely available.
In order to protect Forex clients, in developed countries, laws provide for the use of leverage with the largest ratio of one to 30, in exceptional cases fifty.
At the same time, CryptoKG applies a credit ratio of one to 400 for trading activities in the Forex financial market.
This ratio is legalized in Switzerland, as firms registered in this state enjoy high confidence. However, CryptoKG is not registered in this country.
In fact, CryptoKG do not have permission to work in the Forex market with such leverage, due to the high risk for users. So, this is used to force the trader to transfer as much of his finances as possible, but also to drive into loans.
Regional divisions of CryptoKG
It is considered important for every financial company to have local branches in civilized countries, even if the work is carried out only in the UK. Therefore, CryptoKG talks about the fact that in addition to a large number of awards, they have local divisions in England, Australia and other civilized countries, and in addition about a large number of experienced specialists.
Checking the presence of these units is quite simple. Since there are profile structures that control the actions of online brokers. In England, this is FCA, and for example, Australia - ASIC.
Because of this, the official company is required to have official documents from these or other structures that confirm their permitted right to provide Forex earnings services, regulate the level of responsibility.
However, after examining specialized websites, our staff did not find them. This reinforces the fears.
To register on CryptoKG.com, you must transfer personal data
As we mentioned earlier, CryptoKG does not have a demo period, and therefore, in order to gain access, you must immediately transfer the minimum deposit to the CryptoKG bandits. In addition, access to the CryptoKG.com personal account is possible only upon successful completion of the client verification.
This means that CryptoKG requires users to transfer data such as:
- Information about an individual;
- Information about the permanent place of residence (scans of utility bills);
- Data about qualifications, experience, place of work.
In addition, during the first payment, scammers can get access to bank card information.
Together, this information can enable scammers to issue a loan to the user, or to carry out other shadow operations.
Since for registration on the CryptoKG.com website, you need to send personal data, our specialists could not get access to the CryptoKG personal account as well as software for making money on the Forex financial market.
Reviews about CryptoKG
A very important step in exposing CryptoKG is the study of customer reviews.
A detailed analysis of the issue in search engines gave the following information:
- Most of the mentions of CryptoKG on the Internet are lies. These are similar positive mentions and comments of a paid nature;
- All real mentions and comments about CryptoKG are negative. Our employees were unable to find credible testimonials and comments from former users of CryptoKG.com, which would talk about serious earnings, successful work.
- Bad mentions and comments are caused by illegal activities, theft of investments, special creation of debt.
Therefore, real reviews about CryptoKG say that the broker in question is a scammer.
Contact details and official papers of CryptoKG
While researching the information on CryptoKG.com, our experts found many dubious digital white papers that can be easily made using a graphic editor. They are not confirmed by official organizations, which means they cannot be trusted.
If an online broker is not associated with regulatory firms, then its clients simply have nowhere to turn for help.
On the "Contacts" page, our employees saw a phone number. It turned out that it had already been used by an illegal broker. There are also many reviews on the web about fraudulent activities associated with the phone number listed on CryptoKG.com.
Withdrawing money from CryptoKG.com
Are you going to make money with the financial market Forex online broker? Make sure you can take money from him.
After analyzing the user agreement on the CryptoKG website, we did not find clear information about the withdrawal methods. In addition, our employees found a mention of fees for a long period of inactivity of the account, but there was no information about their size. Since the criminals do not work in the legal field, it is impossible to protest these requisitions.
That is, even if the client has ended cooperation with CryptoKG, they may begin to disturb with calls and write letters demanding to pay a fine.
How does CryptoKG work?
The user search method used by CryptoKG also raises concerns.
Fake social media accounts are used for advertising, in which non-existent users spread information about how they quickly managed to earn income by trading on the Forex financial market using CryptoKG. Advertising profiles show expensive cars and jewelry, travel to resorts and other manifestations of a rich life.
They promise a rapid income, for which you do not need to study or put a lot of effort.
When a trader gets in touch with them, CryptoKG employees confirm the possibility of instant profit, as well as the unique features of their services, which will allow you to immediately get a big profit.
After that, various tricks are used to get the maximum amount of money from the client. For example, a fake profit can be drawn to the user in order to motivate them to give more money.
If trading on the Forex market turns out to be negative, a representative of the organization will recommend investing even more in order to close the losses.
CryptoKG employees work on scripts developed by qualified scammers. Fraudsters analyze customer data in order to put pressure on vulnerabilities and get more money.
As a result, everything will come down to one of two options:
- When you are about to withdraw money before you find yourself in the red, you will be charged fees, forbidden to use the account, and will do everything to force you to transfer more;
- When you give the bandits the opportunity to drive the account into the red, there will be threats, the bandits will extort you to pay off the fake debt.
An additional way to earn money for CryptoKG can be the transfer of your confidential information to interested companies. We think that, as a result, information about you can be bought for a small amount of money on some anonymous community on the dark web.
For sure, because of this, various criminals, sales managers, etc. will start calling you. It is also worth waiting for calls from CryptoKG.com colleagues who will offer to “receive” lost investments, of course, for a reward.
Since CryptoKG does not operate in an official field and remains anonymous, they cannot be forced to respond under current law in the UK. The leaders of the criminal organization skillfully disguise themselves and, at best, law enforcement agencies will be able to catch one of the "workers".
Can CryptoKG be trusted?
It is forbidden!
If you are going to give money to scammers, then spend it on a good cause.
In short, we will voice the facts indicating that CryptoKG are scammers:
No official registration;
- Lack of demo term;
- There is no information about the owners of the company;
- Phone seen in illegal schemes;
- Negative balance;
- Leverage greater than one to fifty;
- Bad reviews;
- Invalid data on the website.
Our CryptoKG review is over. Clearly CryptoKG are criminals.
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