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.
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 2017. 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.
KryptoFX is a scam and unregulated Crypto broker, We recommend staying away from it.
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