Broker CryptoKG operating in Britain is a scammer with a notorious reputation
02 / March / 22
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If we go to the official website of CryptoKG - CryptoKG.com, we will find out that our company provides brokerage services for working on the Forex market in England. CryptoKG also offers trading software.
Our experts studied the CryptoKG website, got acquainted with the working conditions, made attempts to get at least test access to the software, studied the availability of official papers, the place of registration of the company.
With the help of this data, we will figure out: Is CryptoKG a scam or not?
In addition, we will tell you how not to fall for the bait of deceivers, about their algorithms of actions. We will provide you with all the information you need to keep your finances safe.
CryptoKG is offshore
The first sign indicating that CryptoKG.com is a scam is the state of registration. According to the documents, the company is registered in the Marshall Islands, which is already in doubt, since the company operates in Britain. Offshore states attract the attention of criminals due to the absence of the need to comply with the law and regulation.
Also, this country does not have the authority to operate in the Forex market.
Moreover, when our specialists tried to find the address, information about the owners and management of CryptoKG, they could not find anything.
This already shows that CryptoKG.com is a criminal online broker, interaction with which can result in significant financial losses.
No data found on directors of CryptoKG
After examining the website, we have not been able to identify the truthful information about the directors of the CryptoKG organization. No legal address, no phone numbers or other ways to get in touch.
Usually, this means that directors try to hide information about themselves in order to avoid responsibility for their crimes. And even if you manage to contact one of the CryptoKG employees, then this will all end, and the actual leaders of the criminal company will remain at large.
CryptoKG, website - CryptoKG.com, has been around for less than a month
The CryptoKG.com website speaks of significant experience in the Forex financial market.
The main way to analyze a website is to obtain information about its domain. Usually, they indicate the age of the domain name, information for contacting its owner.
In our case, the CryptoKG.com domain name exists for less than thirty days, and information about the legal entity or individual that owns it is hidden. Another proof that the owners of CryptoKG are trying to protect their incognito.
This desire can be accepted, but not when it comes to an organization acting as an intermediary between the client and Forex.
At the same time, CryptoKG.com assures its users that they have been working effectively on Forex for quite a long time.
CryptoKG does not have a demo period
It is a common practice for brokers to provide clients with a demo version of their programs so that they can get acquainted with the interface, try their hand at playing the Forex market with fake money.
Unfortunately, on the official website of CryptoKG.com, we did not find information about the trial period, the opportunity to try out the programs.
Most likely, the owners of the CryptoKG.com company are most likely not going to give customers demo access to the service, as some of them may begin to suspect fraud.
Internet broker CryptoKG operates with a negative account
Registered firms that operate in the Forex market do not use a negative account in their activities. In accordance with the laws, a broker user is not able to spend more than what is currently on his balance sheet. In cases where the balance goes negative, the debt will have to be repaid not by the trader, but by the company that provided the services.
Therefore, official brokers do not use a negative balance in their activities.
However, CryptoKG.com gives clients Forex operations with a negative account, that is, in debt.
Why is this needed?
To drive the user into debt and start extorting him to pay off the debt. This is one of the most popular scam methods used by scammers.
If this has already happened, you need to know that deceivers have no way to recover investments under UK law. All methods of pressure on clients are criminal. The most that scammers are able to do is call, send messages with demands.
You cannot cooperate with CryptoKG, as all agreements will turn into expenses.
CryptoKG.com operate with a leverage of 1 to four hundred or more
Already now, it is obvious that CryptoKG are bandits. And yet, let's pay attention to another fact, namely the existence of an extremely high leverage.
Leverage is the ratio of funds of users and brokers when making a transaction. Leverage makes it possible to close large trades for clients who do not have the appropriate amounts freely available.
In order to protect clients in the Forex market, in civilized regions, the legislation provides for the use of leverage with a maximum ratio of 1 to thirty, sometimes fifty.
At the same time, CryptoKG uses a credit leverage of one to four hundred for trading operations in the Forex financial market.
Such an attitude is allowed in Switzerland, since companies registered in this state enjoy high confidence. However, CryptoKG is not registered in this country.
In fact, CryptoKG are not allowed to operate in the Forex financial market with such leverage, due to the high risk to users. Actually, this is used to force the user to transfer more of their finances, but also to drag them into debt.
Local divisions of CryptoKG
It is considered prestigious for a company to have local branches in developed countries, even if the work takes place exclusively in the UK. Therefore, CryptoKG reports that in addition to an impressive number of awards, there are regional divisions in England, Australia and other developed countries, as well as thousands of competent employees.
Checking the availability of these representations is elementary. Since specialized organizations are known that regulate the actions of Internet brokers. In Britain it is FCA, and for example Australia it is ASIC.
That is, a law-abiding organization must have official documents from these or other organizations that will prove their right to provide Forex trading services, determine the level of responsibility.
However, after analyzing industry sites, we did not find them. This once again reinforces our suspicions.
Registration on CryptoKG.com requires the transfer of personal data
As we mentioned earlier, CryptoKG does not have a trial period and because of this, in order to gain access, you must immediately pay the CryptoKG criminals the minimum payment. In addition, access to the CryptoKG.com personal account is possible only after passing the identity verification.
This means that CryptoKG requires its clients to transfer data such as:
- Information about an individual;
- Information about permanent place of residence (receipt for utilities);
- Information about qualifications, place of work, length of service.
In addition, with the initial payment, the bandits are able to access bank account information.
Together, this information can enable scammers to smuggle a loan to a gullible user, or perform other shady operations.
Since registration on the official CryptoKG.com website requires the transfer of personal information, we have not been able to access the CryptoKG personal account and applications for working on the Forex market.
Reviews about CryptoKG
An extremely important point of exposing CryptoKG is the study of traders' reviews.
A detailed study of the search results allowed us to obtain the following information:
- Most mentions and reviews of CryptoKG on the Internet are lies. These are positive reviews similar to each other and mentions of a paid character;
- All real references to CryptoKG are bad. Our staff has not been able to find true testimonials from CryptoKG.com clients that mention serious profits, successful activities.
- Negative reviews are associated with criminal acts, stealing money, creating debt.
Therefore, real reviews about CryptoKG say that this broker is a scammer.
Contact information and official papers of CryptoKG
After reviewing the information on CryptoKG.com, our experts have identified many dubious digital white papers that can be easily made using a graphic editor. They are not confirmed by official companies, which means they cannot be trusted.
If an online broker is not associated with regulatory organizations, then clients simply have nowhere to turn for help.
On the "Contacts" page, our specialists found 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 Forex online broker? Make sure you can take money from him.
Studying the client agreement on the CryptoKG website, our experts did not reveal clear information about the methods of withdrawing money. At the same time, our employees identified a description of punishments for the inactivity of a personal account, but did not find information about the size. Since the bandits do not operate in a legal field, it is impossible to challenge these fines.
That is, even if the user has finished working with CryptoKG, they can start calling and sending messages demanding to pay the fine.
How does CryptoKG work?
The way CryptoKG uses to find new clients is also alarming.
For promotion, fake social media profiles are used, in which non-existent users spread information about how they instantly managed to earn income by trading on the Forex market using CryptoKG. Non-existent people put on display expensive cars and jewelry, vacations in resorts, and other manifestations of a prosperous life.
Bots promise a quick income, for which you do not need to learn or put a lot of effort.
When a user comes into contact with criminals, CryptoKG managers report about the reality of instant earnings, as well as about the unique features of their programs that allow you to instantly earn big income.
Further, various tricks are used to get the maximum amount of investment from the user. For example, a client may be given a fake profit in order to motivate him to give even more money.
When the work on Forex turns out to be unprofitable, the personal manager will offer to invest more in order to close the losses.
CryptoKG employees act according to scripts that were developed by qualified manipulators. They study information about the trader in order to put pressure on weak points, to pull out even more money.
One way or another, everything will lead to one of the options:
- When you are about to withdraw funds before you find yourself in loans, you will be charged fees, will freeze the money invested, and will do everything to force you to transfer even more;
- When you let the bandits drive the account into debt, there will be threats, the criminals will begin to extort the fictitious loan back.
An additional method to make a profit for CryptoKG may be the transfer of your personal data to third companies. Probably, after that, detailed information about you can be bought for a moderate amount on some anonymous telegram channel on the darknet.
Surely, as a result of this, various bandits, sellers, etc. will write to you more often. You can also expect letters from CryptoKG.com accomplices who will offer to "receive" lost deposits, of course, for a reward.
Since CryptoKG does not operate in an official field and maintains anonymity, CryptoKG cannot be forced to be liable under current laws in the UK. The owners of the shadow organization are skillfully hiding and in the best case, the police will be able to arrest one of the "managers".
Should I trust CryptoKG?
It is forbidden!
If you are going to give money to scammers, then it is better to give it to a good cause.
In short, we will voice the facts indicating that CryptoKG are criminals:
- No official registration;
- No demo deadline;
- There is no information about the owners of the company;
- Phone number is seen in criminal operations;
- Negative account;
- Leverage over 1 to 50;
- Bad reviews;
- False data on the official website.
Complete CryptoKG Review - Completed. It is clear that CryptoKG are criminals.
For your safety, we have compiled a complete list of unscrupulous brokers.
