Broker CryptoKG are scammers. Don't trust them!

Registration in an offshore zone

Everyone understands that an offshore zone is a tax haven. An honest and open dealer is not registered offshore. We carefully studied the information on cryptokg.com and found out:

1. CryptoKG is registered in Milton Keynes, UK.
2. There are two phone numbers, one in England, one in the USA.
3. The director of CryptoKG is a Spaniard.
4. Date of registration of the broker CryptoKG December 2021.
5. Work according to the legislation of the European Union.
6. AML policy is based on the laws of Estonia.

It is obvious that the dealer is confusing the tracks - UK, USA, European Union, Estonia. From which we can conclude that CryptoKG are scammers.

Lack of real data and contacts of owners

We have not found specific information regarding the owners on cryptokg.com. Neither their full names, nor intelligible contacts, except for two phone numbers - one each in the UK and America. The director is a person with a Spanish surname. But the director is not the owner, today one director, tomorrow another. There is also a registered address in the UK. This is where the contact information ends.

The fundamental information about your company will be hidden only by a fraudster, which is CryptoKG.

Short life of the broker

We did not find specific terms of their work on the cryptokg.com platform. Such information is simply not available. Therefore, we ourselves checked the date of their registration and found out that CryptoKG has been working in Forex since December 2021. It was then that the purchase of the trading platform took place. The short period of work on the market is also confirmed by the CryptoKG broker itself. Here are quotes:

• “In a fairly short period of time, we were able to attract over 5,000 active users”
• “It is our strengths that allow us not only to attract new customers, but also to retain old ones”
• “Being a new player in the cryptocurrency market…”

The dealer presents “keep the old ones” in such a way, as if he has been providing the services of his exchange not for a couple of months, but for 100 years. And in general, the streamlined turnovers “for a fairly short period” and “being a new player”, coupled with the lack of clear information about the period of work, push to the idea that CryptoKG carefully hides the period of its existence. Such secrecy says that cryptokg.com are scammers who hush up the real duration of their work on the market.

No trial period

Decent trading platforms always provide their users with access to a demo version of their product. So that traders can familiarize themselves with the platform before investing personal finances. The absence of a test period demonstrates the desire of the broker to get the trader's money as soon as possible.

In essence, the CryptoKG broker offers traders to buy a pig in a poke. And this is an obvious scam, saying that cryptokg.com are scammers.

Bonus for registration

Cryptokg.com itself does not mention such, but advertising information from the search results immediately promises 50 USDT as a gift when buying any account. If there really is a signup bonus, then why isn't it mentioned directly on the platform? Account types do not provide for any premiums, on the contrary, it is the trader who must make a minimum deposit of 500 USDT.

Dealers do not pay their traders, on the contrary, they charge spreads and commissions for their services. Signup bonus is a bait. And who is offered the bait? That's right, sacrifice. It is the victims, not the traders, that the CryptoKG deceivers see their users.

Account types

On cryptokg.com they eloquently write about all sorts of benefits for trading:

• more than 300 trading instruments
• up-to-date reports and news from the investment world from professional analysts, traders, investors and programmers
• providing support to solve operational nuances and investments with minimal risks
• continuous increase in investment tools for users
• an exceptional risk control system and the highest quality of execution of trading operations, thanks to cooperation with major world banks
• protection of personal information
• instructions for working with the platform for maximum efficiency and minimization of risks
• maximum leverage 1:20

But in fact, beautiful words diverge from the information in the tariff plans. In a basic account, a trader can only rely on himself, because of all the promises he will receive only daily analytical reviews to his email. The minimum deposit and investment period for this plan is 500 USDT and six months respectively. And the leverage is 1:5. Everything. Opposite the item “standardized training programs” is a bold dash. The same dash is next to the “withdrawal” item.

Types of accounts, in principle, do not contain primary information:

• minimum withdrawal
• timing of withdrawal of money
• ways to withdraw money

Account types do not contain even half of the options and functions that are so artistically described in the general description on the platform, which characterizes CryptoKG as a scam.

Negative balance or negative trading

Throughout the civilized world, trading with a negative balance is prohibited. The trader makes a minimum deposit to the account and trades with this amount. If the user loses money the auction ends. This is how honest dealers work, but not the CryptoKG broker. The account types on the platform contain the cryptic item “risk-free trading, number of positions”. In the basic account, there is a minus opposite this item, but the premium tariff “Tiger” gives as many as 5 positions. True, it remains unclear five positions in what key - five times a day? Five times over the entire deposit period?

In any case, such permission to trade with a negative balance:

• contrary to law
• forbidden in developed countries
• directly says that cryptokg.com are scammers

Lack of regional offices

Our review of the cryptokg.com platform did not find information about the dealer's representative offices in the regions, which is strange, given the bright call on the same platform “find out why millions of users from more than 140 countries trade with CryptoKG”. 140 countries and not a single (!) regional office. Only two phone numbers in England and USA. But why be surprised here? Above, the “about us” tab tells site visitors that “in a fairly short amount of time, we were able to attract over 5,000 active users.” So millions or 5000? It is clear why the dealer does not have local offices. Because CryptoKG is a scam and a scam.

Personal data for registration

It is normal to provide personal information for registration. Nothing without this. Another thing is what kind of information about yourself to supply the dealer.

Some users of cryptokg.com faced the requirement to submit extended personal data, which the dealer is not entitled to claim.

During the initial registration, the CryptoKG broker requested standard documents:

• Full name (scan of an identity document - passport, driver's license)
• Registration (registration)
• Checks for payment of utility bills at the place of residence (to confirm long-term residence in one place)

The traders provided the dealer with the requested information. Registration took place, and after some time, CryptoKG needed additional verification of his identity and he asked to see a work book, supposedly to prove solvency. So, no one has the right to demand such confirmation from the trader, and if a request for a work book is nevertheless received, it means that the broker is trying to lure out as much personal information about the user as possible. "For what?" -you ask. Everything is simple - for sale. The more complete the personal materials, the more expensive they are.

The requirement for extended personal data once again confirms that CryptoKG is a scammer.

Reviews about CryptoKG

Our review of the platform includes reviews from traders. And they are very curious.

The date of registration and appearance on the market of the forex broker CryptoKG is December 2021. And we find the feedback from traders from October-November 2021. The dealer is somehow too ahead of the curve.

The reviews of traders themselves are too contradictory. They either like the interface, or they don't. Either a great platform for trading, or it needs to be further developed. There are obvious discrepancies between the Russian-speaking and English-speaking reviews of traders. In unison, all reviews of CryptoKG praise only the methods and timing of withdrawing money. Although we wrote a little higher that it is the lack of this information that is alarming. However, such disparate and ambiguous feedback from traders cannot be taken for granted. On the contrary, the confusion in the comments and their inconsistency indicates that whatever one may say, CryptoKG are scammers.

Terms and methods of withdrawing money, minimum withdrawal

The account types offered by CryptoKG do not contain direct information about these most important trading parameters. On the cryptokg.com platform itself, they write that more than 20 payment methods are available, including:

• Visa
• PayPal
• crypto wallet
• Skrill

UnionPay And not a word about the minimum withdrawal and terms of withdrawal of money in general.

The only item where there is a mention of any terms in the accounts is the item “minimum investment period”, which for the basic tariff is as much as six months. Along with this, opposite the item “standard deposit and withdrawal of funds” there is a dash. What does this dash mean? Is the withdrawal period six months? Or the funds can't be withdrawn at all?

Along with this, information about the amount of the minimum withdrawal is not mentioned anywhere at all - neither in accounts, nor in general information on the platform.

The term for withdrawing money and the minimum withdrawal is a mystery behind seven seals. Conscientious dealers do not hide such important information, unlike the scam broker CryptoKG.

Penalty for inactive account

There are also such traders, to whom the negotiated dealer imposed fines for the absence of trades in the account. And this is after users have deactivated their accounts. On what grounds CryptoKG applied penalties to already deleted accounts is known only to them. Only one thing is clear that cryptokg.com are scammers.

Let's sum up and outline the general scheme of work on the forex broker-fraudster CryptoKG

Advertising to lure potential customers

The advertisement is engine of the trade. The well-known slogan and well-known tool is also used by cryptokg.com deceivers. There are two main directions:

1. Social networks. Here, fake accounts of non-existent people who “raised” “considerable” money on CryptoKG are used with might and main. Naturally, there is no specifics, no amounts, no methods, absolutely nothing.
2. Blogs. Especially branch - exchange, trading, brokerage. The main thing is to generously saturate the articles with highly specialized terms and “make” the authors of the articles sufficiently “famous”.

Cryptokg.com scammers do not disdain either fake accounts on social networks or paid narrowly targeted articles.

Contact with the client and extortion of the trader's funds

Thanks to advertising, the user gets to the cryptokg.com trading platform, where he gets in touch with the managers of the CryptoKG broker. Thanks to their excellent knowledge of human psychology, it is not difficult for such “managers” to cheat a user for money - a registration bonus, special promotions only for this user, spreads and commissions, super-favorable rates, advanced technical and financial support, of course, for an additional fee. Anything, as long as the customer pays the dealer as much of their own money as possible. Beginners in trading will not even have time to look back, as they will already “owe” the CryptoKG fraudster more than they really have.

Wasting money, going into the red, knocking out debts

The user trades on the financial platform, by the way, it is not a fact that the trader trades in real life. It may well be that the “market” is software designed to recreate the atmosphere of real forex. In the beginning, "trading" can be quite "successful" to ignite the excitement of the trader, and then unsuccessful trades "happen", the deposit money "burns out". A “kind” and “all-understanding” dealer offers to recoup and allows you to trade with a negative balance. Further, the user account is driven into a minus and the knocking out of artificially created “debts” begins. Then “fines” are imposed on the “debts”, and the trader will not have time to blink an eye, as he will owe the dealer all the money in the world.

This scheme is also being played by the CryptoKG deceivers.

Money from the account disappears inexplicably, allegedly due to unsuccessful trading. The account is driven into negative territory and the client is required to pay off the debt. They impose fines.

Trade in personal user data

When the deceived trader was robbed to the skin, it is the turn of the final sale of the user's personal data. Recall that the more complete such data, the more valuable it is, which is why the CryptoKG broker asks for proof of solvency - the client's work book - in order to sell the trader's personal data to third parties at a higher price. The dealer transfers “authority” to the following scammers, the circle closes and the user continues to demand debts and fines, but not CryptoKG scammers, but other congenial offices.

Lack of liability to regulatory organizations

Since the CryptoKG fraudster is most likely registered in an offshore zone, in this Eden, with preferential taxation, he is not responsible to law enforcement agencies. Rather, it is extremely difficult to bring him to such responsibility.

The lack of an opportunity to call for an answer clearly demonstrates that CryptoKG is a pure scam.

In the conclusions, we will once again list the parameters from which it follows that another CryptoKG scam has appeared on the forex market.

By the way, according to these points, you can check the legitimacy of any broker - such a cheat sheet:

1. registration in an offshore zone
2. short period of work on the exchange market
3. unavailability of the demo version of the brokerage platform
4. registration bonus
5. uninformative and confusing types of accounts
6. trading in the red
7. lack of regional offices
8. requirement for confirmation of solvency
9. feedback from traders
10. minimum withdrawal, terms and methods of withdrawing money
11. penalties

In addition, there are other questions that the CryptoKG deceivers are unlikely to answer. For example, with what “major world banks” did they establish cooperation? Why is it written on cryptokg.com that “we provide instructions on how to use the exchange with maximum efficiency” and at the same time, the training plans provide training only for premium accounts with a deposit of 1 million USDT? How to learn for traders from the basic tariff with a deposit of 500 USDT? Similar inequality is observed in almost all points of the accounts. Everyone is rich, but let the poor deal with it. Such commercialism, even greed, directly says that CryptoKG is a money scam.

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