As the Forex Industry is growing, there are more and more companies trying to get in and benefit from the traders’ money. If you are a long time reader or a trader by yourself you will know it that the scamming brokers are not a rare and uncommon thing for the FX market. This is why we are all very careful when searching for a broker or when we recommend a broker to someone else. As the new brokerage companies are appearing many people are looking at them with the critical eye and rush to call them a scam or vise versus – get attracted to their various offerings immediately.
KontoFX is a newly founded Forex brokerage company, in this KontoFX review we will go through the most important aspects of its service, such as what kind of trading accounts do they offer, what platform are they using, what are the conditions that their customers have and more, but most importantly we will try to answer a question is KontoFX scam or a legit company that you can trust your investments.
Can KontoFX be trusted?
Perhaps, it is not the first review you are reading about KontoFX, as for the most Forex brokers KontoFX opinions could have been different and you would see some websites calling it a scam. Let us go through it and see if KontoFX scam is real. Most of the reviews saying that the broker is a scam is based on the fact that it is not regulated. It is common to say that Forex broker needs to be regulated to ensure that your investment is safe, we also support this statement but however, things have taken a different turn after the ESMA regulations have been imposed on Forex trading market in Europe. With the new regulations, ESMA has set a leverage cap that is very low compared to what the brokers were offering before. In these circumstances, the KontoFX broker is able to offer leverage as high as 1:200. Moreover, when are talking about the fraud we should take into the consideration that the brokerage is working under the parent company NTMT Transformatic Market OU that clearly would not want to damage its reputation with the scam brokerage.
What does KontoFX offer to its clients
Besides the high leverage, KontoFX brokerage offers a big variety of CFDs and cryptocurrencies. Crypto traders can trade with over 50 currencies that include the big and famous cryptos as Bitcoin and some exotic ones, for example, Neo, Stellar, Tether and many more. The new traders that will open an account with the broker and will trade with the exotic cryptos can ger KontoFX bonuses as well. Time after time the broker suggests a different kind of bonuses. Currently, an individual can get a 15 percent bonus from the broker. Besides that KontoFX gives much attention to education and offers a different kind of educational guides and content to the people interested in CFDs and crypto trading. The customers have access to the educational sources that are not displayed on the website, as well as webinars and even one on one training and exclusive events that are benefitial for both – well-experienced traders and the ones who are newly introduced to the Forex trading.
Another thing that is exclusive to KontoFX customers is the broker’s trading platform WebTrader. Now as the trading is getting more and more popular and the world is getting more and more digitalized every trader is searching for the trading platforms that are not complicated and are not limited to one device. KontoFX has designed own WebTrader that is based on the traders’ needs. An individual can start trading on the KontoFX website directly without downloading any software. Also, the platform does not require Flash and thus can be run on every device.
These are not the only advantages of KontoFX trading platform, it has built in the tools for analytics and over 50 indicators that make trading easier and more comfortable.
KontoFX account types
KontoFX has three different types of accounts. If you are a kind of trader that wants to trade by himself to try the new strategies while trading you can get the self-trading account. It is designed in a way that can be used equally successfully by the experienced and new traders. Some of the traders are more into the automatic trading, KontoFX account for auto trading offers the advanced artificial intelligence that makes decisions by predictions about the market patterns. Last but not least KontoFX social trading account gives the possibility to copy the positions of the top successful traders to increase the chance for success.
How to open an account with KontoFX brokerage
Opening account with KontoFX is very simple and easy. On the main page of the website, there is a button “Open Account.” After pushing the button the registration form will be opened. You need to fill the forms that requesting information about your name, surname, email address and phone number only. Once you finish filling it you need to confirm that you are 18 years old or more and you are ready to trade. With an opening account with KontoFX Forex broker, you will have access to all digital currencies, flexible deposit methods, analyst manager, resource center, live webinars, daily market analysis, and exclusive Events.
Deposit and withdrawal
KontoFX allows trading with a minimum deposit of 250 EUR or GBP. The minimum deposit is an average compared to the other brokers in the Forex industry. You can make a deposit by using some of the payment methods such as Wire transfer, Maestro, Visa, and MasterCard. KontoFX withdrawals are easy as well, you need to submit a withdrawal requesting form and you can get your profit.
KontoFX customer Service
As we see from the KontoFX.com review the website operates in three languages: English, German and Spanish. You can have customer support in these languages as well. If you have any question about trading matters or any issue with your account you can write KontoFX an email on the email address that is mention on the contact page on their website. Although, if have an urgent issue and want to reach the broker as soon as possible you can call them on the phone number that is mention with the email address. KontoFX customer service is available every workday – From Monday to Friday 05:00-22:00 GMT.
After all is KontoFX legit?
KontoFX scam is not true, even though the company is not regulated by any financial regulator they are a child firm od the big company. Besides KontoFX is one of the brokerages that puts a lot of effort to provide the great, easy and smooth experience to its customers and to ensure the safe investments of their investors is providing with various educational activities. All together gives us the confidence to say that KontoFX is a legit company