Almost every day we hear about the new brokerage company appearing on the Forex Trading market with new suggestions, offers, and products. At the same time, there is daily news about scam and fraud alerts. Therefore the traders are looking at the new brokerage firms with great suspicion. It is very important to have full information about the broker’s bads and goods before starting trading with it. With this KontoFX review we will check if KontoFX is a scam or a reliable broker, what are the advantages and disadvantages of trading with them and what offerings do they make for their customers
About KontoFX Forex broker
KontoFX Forex brokerage firm is a new player at the Forex Trading market, it offers to trade with cryptocurrencies and CFDs. The brokerage was established in 2018 and is owned by the big company NTMT Transformati Markets OU. It is Estonia – based company that currently has headquarters in Budapest, Hungary. Both – juridical and current addresses are available for the traders on the website of KontoFX. The company is not regulated by any financial regulator and authority. Due to this many of the traders might have assumed that KontoFX scam is real and the broker cannot be trusted. After investigating the company, its website, trading conditions, policies, and KontoFX opinions we can surely say that the broker is reliable. Let us go through all of it.
KontoFX trading conditions
KontoFX offers one of the well thought and customized trading conditions that can be obtained from the broker. The first thing that must be mentioned is high leverage. While due to the ESMA rules all regulated brokers had to downsize their leverage caps to 1:30 and cut the benefits of the traders with it KontoFX Forex broker is available to suggest 1:200 leverage.
KontoFX customers have access to over 50 cryptocurrencies that include the common traded digital currencies such as Bitcoin, Ehtereum and Ripple and also exotic cryptocurrencies like Neo, Stellar, Verge, Tether, Monero and many more. In fact, the company also offers special KontoFX bonus for the traders who trade with the Exotic cryptocurrencies. Any new trader that opens an account with the broker can claim a 15 percent bonus.
KontoFX gives much attention to the tools and features that make trading easier and more profitable for its customers, therefore the broker offers its own digital platform for trading, several account types, tight spreads and fast execution of the order. Besides that company ensures that the traders are well aware of the CFD products and digital currencies as well as the Forex trading specifications. Therefore KontoFX brokerage offers educational content and guides about the trading on their website, as well as daily financial and economic news for the visitors to stay up to date. That’s not all, the customers have access to more various educational content, daily market analysis webinars and even one to one trainings. When ask can KontoFX be trusted only the fact that they put a lot of efforts in providing quality education for the traders is enough to answer this question positively.
KontoFX has three different types of the accounts available for their customers. All of the KontoFX account users, no matter what type of account they have, are offered the same conditions and benefits. For every account, the currency is EUR or GBP. all users have access to all digital currencies that the broker offers to trade with. KontoFX customers also have access to the analyst manager, daily market analysis, resource center, live webinars, one on one trainings and are offered flexible deposit methods.
The three types of accounts you can get with KontoFX Forex broker are as follows:
- Sefl-trading account. With this account individuals trade by themselves, as on most of the accounts they have to make market analysis, predictions, make and adjust their strategies based on this assumption. On the Self-trading account, traders have access to the spreads from 0.6 Pips.
- Auto-Trading account. As the name suggests this account is for individuals who do not want to enroll in time-consuming trading activity by themselves and prefer automotive trading. KontoFX suggests advanced artificial intelligence that is easy to set up and run, the robot makes the analysis and decisions based on them. Thus the trader does not have to trade.
- Social trading account – This is the type of account that allows traders to trade by themselves but instead of making their own decisions they can copy the positions of the top traders. Compared to Self-trading account, trading with Social trading account is less time consuming, also it does not require any experience.
KontoFX trading software
KontoFX allows trading on their own software – WebTrader. A web-based platform does not require downloading and installation, also it does not need Flash to run on the device, therefore you can trade from any digital device. WebTrader is accessible on the KontoFX website, it loads quickly and works fast without any technical problem. It is very easy to understand but for those customers who might still have questions about using the WebTrader KontoFX FX broker provides a free detailed guide about how to use its digital trading platform.
The easy accessibility and premium quality are not the only advantages fo KontoFX.com Webtrader. The digital has about 50 built-in tools and indicators that are used to determine the terms and make right decisions, it also has advanced analytical tools, competitive spreads, eight timeframes available for each cryptocurrency, solid encryption and three types of order execution. Due to all these features, KontoFX WebTrader is a great platform for both – beginner and experienced traders.
Deposit and withdrawal with KontoFX
Both deposit and withdrawal are simple and flexible for all the KontoFX customers. The payment systems that can be used for KontoFX are most common and secured – you can use Visa, MasterCard, Maestro and Wire transfer. The minimum deposit is 250 EUR/GBP, which is a common amount in the Forex industry. As for KontoFX withdrawal, to withdraw your profit you will be requested to submit the withdrawal request form.
Based on the KontoFX review we can say that KontoFX is a reliable company that offers legit products and services to its customers. Despite the fact that the broker is not regulated the company can be trusted as they choose to be unregulated to be able to avoid ESMA restrictions and provide the customers with the possibility to make more profit. The company website is professionally made and provides all information about the company, including the contact information – Email address and phone number. KontoFX Forex broker offers various educational contents and guidelines about the trading. With the KontoFX customer service, they are ensuring that any issue that a customer might have is solved immediately. The customer support team is available every working day, from 05:00 to 22:00 GMT, an individual can reach them through an Email address, phone or live chat. The fact that the company is providing customized service and quality products ensure us that KontoFX scam is not real and the broker is trustworthy.