Check Forex Bonus Lab KontoFX review, you will learn about the trading accounts, trading software, bonuses, customer service and many more!
Leverage: 1:200 Licences: N/A
Min. Deposit: 250 EUR Bonus: 15%
Spreads: from 0 pips US Clients: No
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KontoFX Forex Broker overview
KontoFX Forex brokerage is a newly established firm that is based in Estonia. It is a child brokerage of the NTMT Transformatic Market OU. KontoFX was founded just one year ago and already has a growing number of customers. Since the brokerage is not licensed by any legitimate regulator, we can’t necessarily advocate its trustworthiness. is But is KontoFX scam? Unsurprisingly, it is a common question asked about the newly founded unregulated company. However, one thing for sure is that the broker does not claim a false license. They have displayed all the information you would like to check about the broker, their registration address, current address, Email addresses and the phone number for customer support. In addition to that, the KontoFX broker belongs to a large company, which gives it at least a bit more trustworthiness.
Two main services that KontoFX offers to its customers are trading with CFDs and cryptocurrencies. To ensure the best trading experience that is designed and customized to their services and needs of the customers KontoFX Forex broker provides its own trading platform. Due to their non-affiliation with any legitimate EU regulator, KontoFX manages to provide its customers with 1:200 leverage compared to the 1:30 leverage offered by regulated brokers. The minimum deposit that the broker requests is 250 EUR/GBP, customers are able to make a transfer via Visa, Mastercard, Wire transfer and Maestro. There are three account types to choose from all with their due benefits for users. The customers of the brokerage have access to educational webinars and articles alike. We will discuss all of these features in this KontoFX review.
KontoFX offers three types of accounts to its customers: Self-trading account, Auto-Trading account, and Social Trading account. One can choose their trading account depending on their skills and overall experience in Forex trading. All of the accounts are designed in a way that can be used by both- Experienced and beginner traders. Self-trading account is – as the name suggests – an account where an individual trades by himself/herself. The account provides a basic set of necessary trading options.
This account is best used for trying out new and existing strategies. Auto-trading account suggests individuals to let the artificial intelligence trade instead of them. The advanced AI can predict the market patterns and make decisions based on these predictions. Social trading accounts simply allow users to follow the lead of successful traders and copy their positions.
The following are the tools that every KontoFX customer gets access to once opening an account:
- Analyst manager
- flexible deposit methods
- live webinars
- daily market analysis
- resource center access
- one on one trading and more.
What does KontoFX offer
KontoFX review shows us that the broker tries to offer one of the best conditions to the people trading with CFDs and cryptocurrencies. KontoFX has a 1:200 leverage that is higher than any regulated broker can offer in the EU. They provide over 50 digital currencies for the crypto traders. These cryptocurrencies include not only the most common ones as Bitcoin, Ethereum and Ripple but also the ones that are called exotic cryptocurrencies such as Tether, Neo, Stellar and many more.
KontoFX bonuses are available for the new customers, The broker has different bonuses time after time, currently, the new customer can receive a 15 percent bonus for trading with exotic cryptocurrencies.
KontoFX customer service is available for current and potential customers every working day, from Monday to Friday you can get any information or support you seek. You can contact the KontoFX support team from 05:00 till 22:00 GMT. The KontoFX website has three available languages – English, Spanish and German. KontoFX broker customer service team can be reached via the email addresses that are indicated on the website and via the phone number as well. The quality of customer service is exactly what is to be expected. A slightly long wait for replies on emails and an immediate reply on phone calls.
Deposit & Withdrawal
KontoFX minimum deposit is 250 EUR or 250 GBP. The deposit must be made by any of the following payment systems: Wire transfer, Visa, Mastercard or Maestro. KontoFX withdrawal is possible after submitting the withdrawal request form but will have you waiting for the funds for around 5 business days due to limited options.
KontoFX trading platform
KontoFX does not use any commercial trading software, instead, they have designed their own system – a native WebTrader. WebTrader does not need to be downloaded and installed, it is accessible directly on the KontoFX website. Unlike many other web-based platforms it does not require Flash which means that you can run it on every device. KontoFX WebTrader has some advanced tools for analytics.
There are about 50 indicators and tools built-in the platform to make the trading easier and more comfortable for the traders. Especially for the crypto traders, WebTrader has eight timeframes for each cryptocurrency. While making KontoFX review our team members had carefully checked Webtrader, the platform is very simple and easy to use, in addition to that KontoFX is providing free trading guides to simplify the process of trading for customers even more.
However, we can’t necessarily give this part of the company a seal of approval, simply because the limited options available. We think it’s beyond debate that it’s impossible to be a Forex broker without having MT4, MT5 or cTrader on the platform.
Creating a KontoFX account
Creating a KontoFX account is as simple as it can be. The individual only needs to fill the one-minute registration form and they can start trading. The form requests only the basic personal information: First name, last name, E-mail address and the mobile phone number. Registration is open to anyone, except minors.
KontoFX review conclusion
Can KontoFX be trusted? That’s a very hard question to answer. Considering that the broker is not regulated by a legitimate entity, it’s hard to classify it as something trustworthy.
Due to such restraints and lack of evidence for its code of conduct, we can’t necessarily classify KontoFX as a worthy broker for your time. It may have enticing services to offer, but it’s simply not worth it.
It’s best to bite the bullet and go for a regulated broker with 1:30 leverage and be content with lower profits, than go with an unregulated broker with 1:200 and lose all of your profits due to a scam.Open Live Account with XM Instead