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Avoid KontoFX

As many on here, i have made the mistake of a lifetime. I really cannot believe i did no due diligence before adding £250 into an account i set up. I feel such an idiot. If this review helps someone else from making my mistake then at least some good can come out of it. I have tried to get my money back for nearly a month now. They don't answer emails or their phone. They do however continue to keep calling me with their obviously Eastern European accents (but insist they are "English") trying to get me to add literally thousands more into my account. When i bring up my problems with them they just try to dismiss it tell you not to worry and go back to the adding more money scenario. They don't take no for an answer so you are forced to put the phone down. Its truly a nightmare. I am now trying to recover my money via the dispute services at my bank. This is costing more time and hassle that I really (like anyone) could do without. Its stressful, unpleasant I urge anyone reading this who is considering it to AVOID at all costs. Hope this helps and well done if you are checking it out first and not being a complete dumb ass like me. Need and greed got me. That how they get everyone on this i guess. I'm ashamed of my stupidity. If it looks too good to be true it usually is! Just got to remember that and stick to it. Jeeeeeeze.

joe 2018-10-26
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Latest Forex News

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Dec 13 2019 18:02:59, Jonathan Smith in Market

The Securities and Exchange Commission (SEC) in the U.S. has charged  Eran Eyal, founder of UnitedData, for conducting a fraudulent initial coin offering (ICO), which has scammed investors of some 42 million USD with unregistered securities.   Shopin was presented as a block chain project, which however never created a functional platform despite the accumulated funds. Through selling Shopin tokens UnitedData said it will gather funds to create universal shopper profiles, maintained on the block chain, that would track customer purchase histories across online retailers and recommend products based on the information gathered. Read more

Three arrested in connection to a $722 mln crypto scam

Dec 11 2019 18:20:02, Jonathan Smith in Market

The U.S. police have arrested three individuals in connection to a crypto mining scam that costed investors over 722 million USD.   According to a statement by the Justice Department all three of them - Matthew Brent Goettsche, Jobadiah Sinclair Weeks, and Joseph Frank Abel are charged with conspiracy to offer and sell unregistered securities, while Goettsche and Weeks alone are charged with conspiracy to commit wire fraud  as well.    The defendants are facing fines of between 250 000 USD and 500 000 USD each and a prison sentence of up to 25 years if found guilty on all charges. Read more

China to launch bank backed digital currency in Shenzhen and Suzhou

Dec 09 2019 18:20:09, Jonathan Smith in Market

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PlatiniumFX and Capital GMA end up on CONSOB’s warning list

Dec 09 2019 16:47:02, Jonathan Smith in Market

  The latest additions to the warning list of Italian financial regulator CONSOB (Commissione Nazionale per le Societa e la Borsa) are PlatiniumFX, Capital GMA, and several other unregulated brokers. CONSOB also ordered internet providers to block access from Italy to the websites of these entities, as they offer financial services in the country illegally.   Actually, both PlatiniumFX and Capital GMA are allegedly based in Bulgaria, but aren’t licensed by the local Financial Supervision Commission (FSC), nor by another EU financial regulator, as required by law. Read more

#FBS2020: FBS Gives Away Lucky Gift Boxes In A New Year Promo

Dec 09 2019 14:36:59, Forexbrokerz.com in Brokers

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CFTC warns about 20 new forex and binary options scams

Dec 06 2019 17:46:44, Jonathan Smith in Market

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Thai authorities seize over 15 million baht from Forex-3D scammers

Dec 06 2019 10:38:02, Jonathan Smith in Market

  Officials from the Thai Department of Special Investigation (DSI) seized over 15 million baht from the owner of Forex- 3D Ponzi scheme and his associates, the Bangkok Post reported on Thursday.   The DSI and Central Institute of Forensic Science searched four locations in Bangkok and Nonthaburi earlier this week, and seized assets from Apiruk Kothi, the owner Forex-3D, and his network members involved in an alleged scam.   This is the second raid conducted by authorities against members of Forex-3D. A Porche car worth 9.5 million baht, 3-million-baht Harley-Davidson motorcycle, and several other valuable items, were among the items seized by the DSI. Read more

EU finance ministers agreed to block Libra

Dec 05 2019 13:46:59, Jonathan Smith in Market

EU finance ministers have agreed that  private digital currencies like Libra – the crypto coin Facebook plans to launch in 2020, should not be allowed in the European Union until all possible risks are identified and properly addressed, Reuters reports.   Since Facebook revealed its Libra project in June, virtually all major financial regulators have expressed concerns about Libra's  possible impact on the global financial system. The unease steams from Facebook's huge customer base – currently the social media has more than 2 billion users. Read more

CFTC looks for a binary options scammer who defrauded investors with $3,8 mln

Dec 03 2019 17:20:38, Jonathan Smith in Market

The United States Commodity Futures Trading Commission (CFTC) apparently can not locate Peter Szatmari, who defrauded nearly 4 million USD from binary options investors.   In early October CFTC filed a five- count complaint against Szatmari for alleged violations of the Commodity Exchange Act and other Commission Regulations. Before filing the complaint however  CFTC and Szatmari appeared to have agreed in principal on a settlement, from which Szatmari latter backed and disappeared.   When Szatmari  attorney was asked a contact information, he said he no longer represents the defender and gave the Commission a  Kahului, Hawaii P.O. Box address. Read more

Bulgarian court allows the extradition of Gal Barak to Austria

Dec 02 2019 17:51:14, Jonathan Smith in Market

After a successful operation of the police in Austria, Germany, the Czech Republic and Bulgaria has lead in February to the arrests of several financial executives, among which the Izraeli citizen Gal Barak, who is charged of orchestrating an online trading scam, that allegedly has defrauded European investors of over 100 million Euro, now a Bulgarian court has given the green light for Barak to be extradited to Austria, reports Faktor.bg, a Sofia based online portal.   The Austrian authorities have several charges against Barak, among which a case of massive fraud, money laundering and participation in an organized crime group. Read more

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