Overview of the CryptoKG broker. Criminals or brokers?
If we get to the official website of CryptoKG - CryptoKG.com, we will find out that this company provides brokerage services for Forex operations in the UK. CryptoKG also offers software for financial actions.
Our specialists looked at the official website of CryptoKG, got acquainted with the terms of action, tried to get demo access to the services, studied the availability of official papers, the region of the company's residence.
With the help of the information received, we will figure out: Is CryptoKG a scam or not?
In addition, we will explain to you how not to fall into the trap of criminals, about their action algorithms. We will give you all the information you need to keep your finances safe.
CryptoKG is located in an offshore region
The main call that says that CryptoKG.com are scammers is the country of residence. The company is officially registered in the Marshall Islands, which is already suspicious, since CryptoKG.com operates in the UK. Offshore countries attract the attention of scammers due to the lack of laws and executive power.
Moreover, this region does not have the authority to operate in the Forex market.
Also, when our specialists tried to reveal the real address, information about the owners and management of CryptoKG, they could not find anything.
This hints that CryptoKG is a shadow Internet broker, cooperation with which can result in serious financial losses.
Could not find data about the owners of CryptoKG.com
Having examined the site, our experts have not been able to find reliable information about the organizers of the CryptoKG organization. No physical or legal address, no phone numbers or other ways to get in touch.
As a rule, this means that the current owners try to hide information about themselves in order to elude responsibility for their actions. If you manage to contact one of the CryptoKG employees, then everything will end there, and the actual directors of the criminal organization will remain at large.
CryptoKG, official website - CryptoKG.com, is less than thirty days old
The CryptoKG website talks about many years of experience in the Forex financial market.
The main method of analyzing any web site is to obtain data about its domain name. Usually, they record the age of the domain name, data for the connection of its owner.
In this case, the CryptoKG.com domain name has been operating for less than one month, and information about the legal entity that owns it is classified. Another proof that the organizers of CryptoKG are trying to remain anonymous.
Such a desire can be supported, but not in those cases when it comes to a financial company working as an intermediary between the client and the Forex market.
At the same time, CryptoKG.com themselves assure their users that they have been effectively operating on Forex for a long time.
CryptoKG does not have a trial period
It is a common practice for Internet brokers to provide clients with a demo version of programs so that they get acquainted with the interface, try their hand at operations on the Forex financial market with virtual money.
Unfortunately, on the CryptoKG.com website, we did not find any information about the demo period, the opportunity to try the software.
We think that the director of CryptoKG is most likely not going to provide customers with demo access to paid software, as some of them may begin to suspect a scam.
Online broker CryptoKG operates with a negative balance
Registered firms that operate in the Forex market do not use a negative balance in their work. By law, a broker's client is not able to spend more than what is currently on the balance sheet. In those rare situations when the account still goes negative, the loan will have to be repaid not by the client, but by the company offering its services.
Because of this, legal brokers do not use a negative account in their activities.
And yet, CryptoKG.com provides its traders with Forex operations with a negative account, that is, on credit.
Why is this needed?
To drive the trader into debt and start demanding repayment of the debt. This is one of the most popular scam methods used by scammers.
If this has already happened, you need to know that scammers do not have the opportunity to recover investments under the laws of England. Any means of influencing customers is illegal. The most that criminals can do is call, send threatening messages.
It is impossible to cooperate with CryptoKG, since all attempts to negotiate will result in new costs.
CryptoKG.com operates with a credit ratio of 1 to 400 or more
It is already clear that CryptoKG are criminals. However, let's pay attention to one fact, namely the existence of too high a credit ratio.
Leverage is the ratio of money users and online brokers make when making a transaction. Leverage makes it possible to carry out significant transactions for users who do not have the appropriate amounts with them.
In order to protect traders in the Forex market, in civilized countries, legislation requires the use of leverage with a maximum ratio of one to thirty, in exceptional cases 50.
At the same time, CryptoKG applies a leverage of 1 to four hundred for operations in the Forex financial market.
This relationship is permitted in Switzerland, since firms registered in this state enjoy considerable trust. However, CryptoKG is not registered in this country.
In fact, CryptoKG cannot operate in the Forex financial market with such a credit ratio, due to the high risk for clients. Accordingly, this is used only to force the user to invest more personal funds, but also to drive him into loans.
Local divisions of CryptoKG
It is considered important for every financial company to have local branches in developed regions, even if the activity takes place only in the UK. So CryptoKG reports that in addition to a significant number of awards, there are local branches in Britain, Australia and other civilized regions, and also about many competent specialists.
It is easy to check the availability of these offices. After all, specialized structures are known that control the activities of online brokers. In England it's FCA, and in Australia it's ASIC.
Therefore, a legal company is required to have official documents from these or other organizations that confirm their ability to provide services for making money on Forex, regulate the degree of responsibility.
However, after checking industry websites, our staff could not find them. Which once again strengthens our suspicions.
For registration on CryptoKG.com, it is necessary to transfer personal data
As we reported earlier, CryptoKG does not have a trial period and therefore, in order to gain access, you must immediately transfer the minimum deposit to CryptoKG scammers. In addition, access to the CryptoKG.com personal account is possible only upon completion of user verification.
This means that CryptoKG requires users to submit information such as:
- Information about an individual (passport, birth certificate);
- Data on permanent residence (scans of utility bills);
- Data about qualifications, place of work, experience.
Also, during the first transfer, criminals can get access to personal account data.
As a result, this data may enable the bandits to hold a loan for a trader, or to carry out other criminal acts.
Since registration on the CryptoKG.com website requires sending personal data, we have not received access to the CryptoKG personal account, as well as services for trading on the Forex financial market.
Real reviews about CryptoKG
The most important point of exposing CryptoKG is the analysis of user reviews.
A detailed study of the issuance in search engines allowed us to obtain the following data:
- Most mentions of CryptoKG on the Internet are lies. These are similar positive references to a custom type;
- All real reviews and comments about CryptoKG are bad. Our experts were unable to identify reliable reviews and references from CryptoKG.com customers, which would speak of a large income, effective work.
- Negative mentions are associated with fraudulent activities, theft of funds, artificial creation of credit.
Therefore, real reviews about CryptoKG indicate that the online broker in question is a scammer.
Contact information and official papers of CryptoKG
After analyzing the data on CryptoKG.com, our experts found many dubious digital white papers that can be easily done with a graphics editor. They are not confirmed by official firms, which means they cannot be trusted.
If a broker is not associated with regulatory organizations, then its clients simply have nowhere to turn for help.
On the "Contacts" page, we identified a phone number. It turned out that it had already been used by an illegal Internet 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 help of an online Forex broker? Make sure you can take money from him.
After reviewing the user agreement on the CryptoKG website, we did not find any information available about the withdrawal methods. In addition, we found a mention of fines for a long period of inactivity of a personal account, while there was no information about the amounts. Since criminals do not operate in the official field, it is impossible to challenge these extortions.
Therefore, even if the client has finished working with CryptoKG, they can start calling and spamming demanding to pay a fine.
How does CryptoKG work?
The method of searching for new users, which CryptoKG uses, also raises concerns.
For promotion, false social media accounts are used, in which non-existent bloggers spread information about how they quickly managed to get rich by earning on Forex through CryptoKG. Non-existent people put on display expensive cars and real estate, travel to resorts and other indicators of a prosperous life.
Non-existent people promise instant profit growth, for which you do not need to learn or put a lot of effort.
If a potential trader gets in touch with them, CryptoKG managers report the possibility of instant profit, as well as some unique features of their programs that allow you to quickly earn big money.
Further, various tricks come into play, making it possible to receive the maximum number of deposits from the trader. For example, you may be drawn with a fake profit to inspire you to transfer even more investments.
When trading on the Forex market is negative, the personal manager will offer to transfer more in order to compensate for the losses.
CryptoKG managers act according to the methods that are created by skilled deceivers. Scammers analyze data about a trader in order to put pressure on specific places, to lure out more money.
In any case, everything will lead to one of the options:
- If you decide to get finance before you are in the red, you will draw fees, close assets, and do everything to make you pay more;
- When you allow the criminals to drive the account into the red, there will be threats, the criminals will begin to demand payment of a false debt.
An additional way to earn money for CryptoKG can be the sale of your confidential information to third parties. We assume that after that, it will be possible to buy detailed information about you for a small amount on some anonymous community on the dark web.
It is likely that after that you will be spammed more often by various scammers, sales managers, etc. It is also worth waiting for letters from CryptoKG.com colleagues who will offer to “receive” lost investments, of course for a fee.
Since CryptoKG does not operate in a regulated field and remains anonymous, CryptoKG.com cannot be enforced under current laws in the UK. The organizers of the criminal company skillfully hide and in the best case, law enforcement agencies will be able to arrest one of the "administrators".
Should you trust CryptoKG?
It is forbidden!
If you plan to transfer finances to scammers, then it is better to give them to a good cause.
In short, we will voice the evidence saying that CryptoKG are bandits:
- No official registration;
- No demo period;
- No information about the owners of the company;
- The phone was found to be fraudulent;
- Negative score;
- Credit ratio greater than 1 to 50;
- Bad reviews;
- False information on the website.
Our CryptoKG review is over. Clearly, CryptoKG are scammers.