Let's figure it out together and decide - is CryptoKG another scam or opportunity to make money?

CryptoKG broker review, CryptoKG.com - scammers 02 / 03 / 22 William Hunter Visitors: 194 Rating: ★★★★★

The most important sign of fraud is the location of the broker in an offshore zone.

It is unlikely that a broker will, on his own, honestly and openly, tell traders about his offshore placement, but there is nothing easier than finding out this information or at least understanding that a broker is muddying clean water.

To do this, go to cryptokg.com and carefully read the published and publicly available information about them. So:

The two most important dealer information tabs contain very little useful information for traders. The bottom line is we have a confusing story with the real location of the dealer. Not only is it confusing, it's also contradictory. Registration in the UK, EU trade rules, and “official” documents from Estonia. And nowhere is there a mention of regional offices, so where the European Union and the United States suddenly came from is not clear.

Most likely, CryptoKG are swindlers, with accounts in an offshore zone, otherwise why would it be so vague and even tricky to indicate the place of their registration?

The second, following from the first, fraud factor is the real data and contacts of the company's owners. Or rather, their absence or unreliability In the case of the CryptoKG broker, we have two contact numbers, one in the UK and one in the US. A person with a Spanish surname is indicated as the director of the dealer company. And that's all. Neither the names of the owners nor their contacts are indicated on the financial resource cryptokg.com, and the director, as you know, is a hired employee, whose involvement in financial fraud has yet to be proven. So, look for fistulas of wind in the field. Will honest owners hide the most basic information about themselves? The answer is unequivocal - no. Therefore, we have one more argument in favor of the fact that cryptokg.com are scammers. Further more. Having searched on specialized search platforms, we find out that the life of CryptoKG on Forex is a little over a month.

 CryptoKG - Domain

The fact that CryptoKG is a scammer is also evidenced by the complete absence of a test period for their platform

Adequate brokerage services always provide the trader with a test period - this is a clearly defined period of time during which you can try out the trading platform absolutely free of charge. CryptoKG offers gullible users a wide variety of account types, essentially tariff plans, though without the ability to test them. Even for such large tariffs, in which the minimum deposit is 1 million USDT. Such greed clearly demonstrates two facts:

To sum up, the absence of a test period is another fact that says that CryptoKG is a scam for visitors, designed primarily for beginners in trading.

Move on. Signup bonus should be alarming

Especially if there is not a single mention of a registration fee on the cryptokg.com resource itself, but the usual search results for the query “CryptoKG registration bonus” gives advertising information about 50USDT as a gift when registering an account in the very first lines. And this is taking into account that the minimum deposit for a basic account is 500USDT.

Attractions of unprecedented generosity exist somewhere in human fantasies divorced from reality or in a parallel universe, but not among dealers. Believe me, none of them will pay a trader to use their trading platform. For this, there are spreads and commissions. But the registration bonus is a common bait for gullible users, which should “shout” to traders that cryptokg.com are scammers.

Don't be gullible, be informed - forewarned is forearmed.

Above we mentioned accounts. Let's talk about the types of accounts on cryptokg.com in more detail

CryptoKG offers a sufficient number of them. The minimum deposit, as we wrote above, is 500USDT, the maximum, under the sonorous name "Tiger", will lighten the trader's wallet by no less than 1 million USDT.

Account types are filled unevenly, from the almost complete absence of any basic support in the budget tariff to trade with a negative balance in premium accounts that is prohibited in decent countries. A rather high minimum deposit, lack of training in the basic tariff, fantastic opportunities in elite accounts tell us about the high interest of the forex dealer in large one-time cash infusions of traders. No one wants to mess with the "budget" players in the market, so there is no training. Of course, brokers make money on trading operations, but such commercialism can only mean that CryptoKG is a scam for money.

And, if the above arguments still do not look impressive, then it's time to talk about the possibility of trading in the red.

Negative balance is a clear marker of dealer fraud

CryptoKG makes it possible to trade with a negative balance. In all civilized countries it is strictly forbidden! It is noteworthy that such an opportunity itself is registered in accounts. For example, in the basic tariff with a minimum deposit of 500USDT, there is a dash in front of the item “trading without risk” - this is not just excellent, it is legal. But in all subsequent “trading without risk” tariffs, a mysterious “number of positions” appears, and with each subsequent tariff, the “number of positions” increases by 1 point. Just not clear what exactly? And for what period? 1 trade per day? Or 1 time in general, for the entire period? In addition, the number of positions is sometimes written in text, sometimes in numbers, then in the left column, then in the right. Complete confusion and vacillation. Such unprofessionalism suggests that cryptokg.com are scammers pushing their clients into debt.

And where there is debt, there is leverage

This is the maximum leverage provided in developed countries. Usually, unscrupulous dealers sin mercilessly by exceeding this norm, sometimes even up to 1:400. The topic with exorbitant leverage, like that of Atlantis, is very sensational. Apparently, this is why the CryptoKG broker went the other way and in his accounts the leverage modestly ranges from 1:5 to the maximum 1:20. But do not flatter yourself and think that 1:20 is not even close to the legal 1:50. High leverage, and 1:20 is a fairly high leverage, can only be afforded by Swiss companies, which CryptoKG is not, remember that the country of registration is England.

And do not forget that any leverage is, first of all, a debt and only then a win. If you're lucky.

Offering high leverage for no reason is another proof that cryptokg.com are scammers.

There is another, not obvious, but very eloquent indicator of the honesty and openness of the dealer - regional offices, or rather their presence

A cryptocurrency exchange is a global exchange, since electronic money is not tied to the usual banks and is almost not guaranteed by the currency funds of countries. Currency trading is going on all over the world every day and every second. Therefore, wherever a dealer is registered, one way or another it is necessary to have regional offices. Especially if CryptoKG is promoting itself in the Russian-speaking market. But, let us remind you that only the address and phone number in the UK are indicated in the contacts on cryptokg.com, and there is also a phone number in the USA. And CryptoKG itself in forex, the global market, we note, has an office only in England. Strange, don't you think?

Such secrecy or, on the contrary, negligence in the “legend” once again confirms that CryptoKG are deceivers.

And now attention, an important criterion is the personal data that dealers require during registration.

Of course, to register an account one way or another, personal data will be required. But dealers can not claim all personal data, but only certain ones. Let's figure out together what data can be safely provided, and the requirement of which should alert you. So:

  1.  Definitely can request:
    • Full name, which is logical. A scan of your passport or driver's license will do here.
    • Registration (registration) data to understand which country the trader is a resident of
    • Proof of long-term residence in one place. Here you will be asked to present receipts for utility bills at the address of registration. Usually they ask to show for a certain period, for example, for six months. Such checks speak of the sedentary lifestyle of a trader.
  2. Have no right to demand:
    • Confirmation of solvency - documents on professional suitability and work experience, as a rule, this is a work book; confirmation of the availability of work at the current moment; salary. For forex dealers such documents are additional evidence of the trader's solvency, but the trader has the right not to provide them.

It is worth remembering that along with personal data, you provide dishonest dealers with an additional opportunity to earn on their sale. If, in addition to passport data, registration and utility bills, you are asked to additionally provide a work book, you can safely end your cooperation with such a dealer. For example, the broker CryptoKG behaves cautiously. When registering, cryptokg.com requested only basic personal data, and after that, in the process of trading, this dealer suddenly needed additional identification of the person and he sent a request for the provision of a work book. This is how he gave himself away from head to toe - such a request clearly demonstrates that CryptoKG are scammers.

Owner of information - owns the world. Trader reviews, ratings and comments are a great source of information.

Let's analyze CryptoKG reviews together

As we wrote above, the date of the last purchase of the cryptokg.com domain is December 2021 - let's fix this fact. We read the reviews of traders on the sites - one in January 2022, and all the others date back to October-November 2021, which is strange, does cryptokg.com really have a time machine? How else can you explain the feedback after the fact?

Such reviews of traders are white threads and once again confirm that CryptoKG is a scammer.

And we came close to the topic of direct financial risks, the most important of which is the withdrawal of earned funds

CryptoKG offers a variety of account types in none of which the terms and minimum withdrawal amount are not really clear:

Such, let's not be afraid of the word, muddy and fragmented information is not only alarming, but directly says that the CryptoKG broker is a scammer who was not going to allow his traders to withdraw the money they earned.

The clear evidence that cryptokg.com is a scam is the penalty for an inactive account.

Some users of cryptokg.com faced penalties. Traders signed up, got familiar with the platform, traded for a while, and then deleted their accounts. It is noteworthy that fines were imposed for an inactive account after its deletion. By "inactive account" CryptoKG means no trading from the account. But how can you use a deleted account?

There is no doubt left that cryptokg.com are scammers.

We talked a lot and for a long time about the fact that the CryptoKG broker is a scam and a scam, like a two-in-one promotion. Let's go through the fraudulent scheme again and briefly summarize the information

First you need to attract customers.

All sorts of advertisements of the CryptoKG scammer perfectly cope with this, inviting beginners to go to their site and try their hand at trading.

Be careful, compare and analyze information, especially advertising information. Remember that absolutely all advertising is paid for by someone, which means that it pursues certain goals. Don't be such a target.

As soon as the user has gone to the site, he is taken into circulation by the dealer's managers. There is contact - the trap slammed shut.

Psychologically savvy personnel with manipulative skills are in contact with the future victim of deception. It is necessary to have a psychological education in order to competently counteract or at least realize and consider fraudulent manipulations. And since far from everyone has a psychological education, dishonest dealers continue to profit and grow rich fraudulently.

CryptoKG scammers do not neglect this either.

After the newcomer “pecked”, a long-established and well-established scheme is played - trading, spending deposit money, trading with a negative balance (going negative), knocking out debts and invented fines

The trader studies analytics, plays on the stock exchange, and then the money disappears from the account in an incomprehensible way, and the dealer confusingly explains that the unsuccessful trading user himself is to blame for everything. This is followed by an offer to trade with a negative balance, which finally drives the user's account into a minus. And then the well-known scheme - demands to pay off debts, into which the dealer himself drove the trader. A little later, fines are imposed on already existing debts, and so on endlessly - debts-fines-debts-fines.

A little higher, we wrote about the fines imposed on some traders for an “inactive account”. The conclusion is the same - the CryptoKG scammer is operating on Forex.

An important source of income for dishonest brokers is the sale of personal data of clients

Usually, personal data is sold last. Already after everything they could have been squeezed out of the client and it becomes obvious that this user will no longer bring income, the dealer with a light heart and soul sells the personal data of traders and this is where the story for the broker ends. For a broker, but not for a trader. After the sale of the data, the user begins to call and write again with demands to return the debts, completely different scammers.

Do not shun the sale of personal data and deceivers CryptoKG.

All these fraudulent manipulations are possible due to the lack of dealer liability to regulatory organizations.

There is nothing difficult in evading liability if the brokerage company is registered in an offshore zone. No law enforcement agencies will be able to get dealers from offshore.

The CryptoKG broker has appeared on the forex market quite recently, and the legitimacy of its registration is in doubt. Cryptokg.com lists the registration address in the UK. No other regional offices are mentioned, but a US phone number is present. In a document posted on the website “AML Policy” (anti-money laundering), they suddenly refer to the laws of Estonia.

In general, it is clear that the matter is dark. Such tricks with registration directly indicate that CryptoKG is a scam.

CryptoKG.com - scammers

Instead of conclusions, here is a short list of “thin” places where unscrupulous dealers, such as the CryptoKG scammer, deceive traders:

  1. registration in an offshore zone
  2. short term of work on forex
  3. lack of a test period (demo version) of the trading platform
  4. bonus for registration on the resource
  5. types of accounts, in fact, tariff plans. Reviews about CryptoKG contain almost no specifics about accounts. This is understandable, they are so unprofessional and even crookedly spelled out that it is almost impossible to figure out this confusion on your own.
  6. trading with a negative balance (trading in the red). Banned in civilized states.
  7. leverage above 1:50
  8. lack of regional offices
  9. requirement for extended personal data
  10. reviews and comments. They can be helpful and informative.
  11. terms and methods of withdrawing money, the minimum amount for withdrawal
  12. all kinds of fines, including for an inactive account

Pay attention to these parameters when choosing a dealer, and you will significantly reduce your chances of being deceived.


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