Warning! Kryptoconnection is an offshore company! Your deposit may be at risk.
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Kryptoconnection cannot be taken seriously by us, there is nothing to keep anyone invested here. The only thing that this broker does right is to create a facade that hides its nature. Read on to find out more.
The main thing that Kryptoconnection has it going for, or hasnt, is the lack or a regulatio, as proven by the fact that there is no mention of one anywhere to be found on the website. Usually, if a broker has a license it parades with it, but this one does no such thing. One thing is certain: Kryptoconnection is UNREGULATED, making it a risk to all those that invest money in it.
We strongly advise traders to trade only with regulated brokers that hold a license from renowned and severe institutions such as the FCA or CySEC. Not only do these agencies oversee operations and require regular reports from brokers registered with them, but those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
The trading conditions are limited only to cryptocurrencies, while a leverage amount has not been revealed. Furthermore, the broker did not grant s access to it trading platform, so any trading terms associated with it are out of our reach. Even the legal documents are useless, short, and unnecessary.
The broker is availbale exclusively in English.
As we mentioned, there is no trading platform to speak of, becasue the broekr bloced it from us. This is because we had not deposited, meaning that one must deposit in order to access the trading platform…Granted, a smart move on Kryptoconnection’s part.
Once we registered, we were presented with a simple dashboard, that did not include a trading software. This means that any trading conditions that the broker claims to offer are probably fake news. This is one of the biggest tell that users shold absolutely not trust this broker with their money.
KRYPTOCONNECTION MINIMUM DEPOSIT
Users can deposit via bitcoin, ethereum, and litecoin. Appropriate methods of funding for an illicit broker- crypto payments are untraceable. There is no minimum deposit it seems.In fact we are not sure we know how to deposit; we jsut wrote an amount, clicked on proceed, and the website redirected us right back to the payment dashboard.
Due to he broker’s lack of any regulation, we advise against depositing any amount whatsoever. If traders wish to invest in online forex, they will find that any FCA/CySEC regulated broker will surely do. These agencies are at the top of their game, demanding a strict conduct from brokers, and requiring regular reports on their activities.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
It may or may not happen, but if an unregulated broker asks you to install AnyDesk or TeamViewer and give them log in details, consider yourself very open to a complete drainage of your funds from all your online accounts. These software allow for anyone to access your PC from another station and go through all your files and vital information, including credit card, bank and alternative payment method details. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.
KRYPTOCONNECTION WITHDRAWAL TIME AND FEES
Withdrawals can be made via Wire Tranfer and bitcoin. There is no mention o f fees and processing times. Overall, even for an illegal broker, Kryptoconnection has not made an effort.
ADDITIONAL FEES AND TAXES
Since there are no legal documents, we cannot expose any fees or suspicious clauses. This does not mean that the broker will not launch fees. In fact, unregulated brokers are known for charging clinets with unprecedented fees. Furthermore, illicit firms do not care who you are and what your situation is; all they see is money, and they will trick you into giving it to them every chance they get. It is only logical then, that any attempt at withdrawing will be unsuccessful. The most popular excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.
We strictly advise against giving away an ID and proof address to unregulated brokers: they can be literally anyone with enough time and skill to mask themselves as a broker. Usually, these individuals use the anti-money laundering legislation as front for when traders start to get suspicious. Once this suspicion is confirmed and you file for a charge back, they will use your details against you case.
We are positive that this so called broker will not return your funds; the evidence we have laid out before you work in sync against it. The sound thing to do is to direct your attention and investment to an FCA or CySEC licensed broker where the law is integrated in every aspect of their operations.
HOW TO RECOVER
Filing for a charge back is the best advice we could give you. Immediately contact your bank or credit card company and lay out the circumstances.
Cancel your credit card if you have shared any notable details with the fraudulent broker, especially if you have provided them with the card’s CVV code. If such is the case, annul your credit card ASAP.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
Kryptoconnection is an abslolute scam of an operation! That’s the jsut of it. Stay away for good!