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If you are thinking about investing your money in Forex, you have to find a legitimate broker that has great strategies for trading. Strategies and knowledge are important factors in the trading platform.

KontoFX is one of the forex traders that provides its customers with the MetaTrader4 platform for trading. This trading company also offers its clients the web trader software that is made by Panda. They also provide their investors with several account types. The minimum deposit of the smallest account is $250, but from some time the official website of this company is not working. Many reviews and complaints about this company explain that their customers have a lot of problems with their money withdrawal.

Is KontoFX is legit or a scam broker?

There are many signs by which you can identify that a certain broker is legit or a scam. KontoFX broker is having some problems with the trading and has failed to provide a great service to its customers too. The following are some reasons which will explain that KontoFX is a scam broker-

• Regulated by FCA or not?

Every legitimate company is regulated by the official financial authority of the respective country. When you are investing your money in the broker, you have to check if they have a valid license for trading or not. If the company is legit, they provide all the information on their official website.

KontoFX is not regulated by the Financial Conduct Authority (FCA) of the UK. It is very risky to invest your money in a broker that is not regulated by the official authority. KontoFX does not show any license on the official website of the company.

 

• Detail information:

If the broker is legit then they provide all the information about the company and all the strategies of trading on its official website. KontoFX does not provide any detailed information about the address of the company and they also do not share any process of the trading. They just provide their clients with the customer number that is not available. Customer email information is also present on the official website of the KontoFX.

• Copying other brokers official address:

The common factor of the scam brokers is to copy all the official strategies of the trading from a legitimate broker’s official website. Sometimes they also copy the address of the legitimate company. KontoFX also copies other broker’s address from its official website.

• Blacklist:

This list is the official warning list of the FCA. They add names of the scam broker in the list which is suspected of the illegal activities in the trading. KontoFX is also added to the blacklist of the FCA and they warned their citizen that they can’t risk their money in this broker.

 

KontoFX complaints:-

As we know that the KontoFX is a total scam because of the various complaints and reviews of its customers. On the official website of KontoFX, they provide you the email address that you can use when you have any complaints. You have to give your complaints in writing because this is one of the various rules of the company. They will check your request manually because they don’t have any mechanism.

Conclusion:-

All this information reveals that KontoFX is a scam broker and you can’t take the risk of investing your money in this company. KontoFX doesn’t have any valid license for trading. They also don’t share any information about the trading process. You can’t trust such brokers.