Kontofx is it a scam?

MaxiRobriguez

Wildsound wrote: »

Also, don't give these companies screen time by bumping 2 month old threads! It just gives them more attention!

It got bumped before my post, but that post has since been deleted.

Malthusian

Wildsound wrote: »

Also, don't give these companies screen time by bumping 2 month old threads! It just gives them more attention!

It does also give more attention to this thread for people Googling "is kontofx a scam" or "kontofx reviews" though. Threads drop down Google's rankings when they go stale.

Someone who isn't Googling those keywords and isn't going to pay attention to this thread can't be helped.

webjaved

Let's hope somehow those that have invested get their money back.

But the likelihood is that the money invested has long gone. A basic online search is not difficult, do your research before handing over any money.

Aretnap

Malthusian wrote: »

It does also give more attention to this thread for people Googling "is kontofx a scam" or "kontofx reviews" though. Threads drop down Google's rankings when they go stale.

Someone who isn't Googling those keywords and isn't going to pay attention to this thread can't be helped.

When I Googled 'Kontofx' from a private browsing window last night this thread came up fourth, which is no bad thing.

The top hit was a paid advert for a website in slightly broken English promising to get your money back if you have been scammed by Kontofx, which I suppose could be a good thing or a bad thing depending on which stage of the scam cycle you are at.

londoninvestor

Aretnap wrote: »

The top hit was a paid advert for a website in slightly broken English promising to get your money back if you have been scammed by Kontofx, which I suppose could be a good thing or a bad thing depending on which stage of the scam cycle you are at.

http://www.tradingstandardsecrime.org.uk/fraud-recovery-fraud/

CurvyShervy

So I've had a KontoFX account since March, I was, I suppose stupidly, sucked in by a Facebook post that featured a clip from a breakfast TV channel, some well-known people apparently making money quickly.. now I feel very stupid!
Things were going OK, despite the bad reviews I ended up investing more than I should have, not massive - £2K, but it's a lot to me..
I still have the account, at one point I'd doubled my money, but with changing 'account managers' (some would phone me once a week, some less often) my account has been up and down.
As of today I was unable to login to my account so I emailed my contact, only to be told the domain name has changed from .com to .io - and when I got into my account there have been substantial losses, the 1st time my account is now 1/2 what I initially invested, despite being told they would only ever trade a small percentage of my investment, and I would never lose the entire investment.
Does anyone please have any advice on how to proceed?
I've asked my contact if I can make a withdrawal, not close my account entirely (didn't want to panic them), but just see how the process works..

Ideally I'd like to cut my losses and run, but after reading other reviews I'm worried that even if I instruct them to stop any further trading on my account, all my money will be lost..
Help - please!!
Signed - Ms Stupid!!

AnotherJoe

Start the process to withdraw your money, but consider it all lost already so dont worry about "panicking them" you'll find you cant get whats theoretically left of your money back anyway.

(and no you never "doubled" your money, thats just fake as were the ads from personalities "endorsing" the ad).

You may be able to recover your money through a debit card charge back if thats what you used to transfer it. Listen to last Saturdays Moneybox program on BBC radio and see if that applies to you.

https://www.bbc.co.uk/sounds/play/m0008pf1 start at 12:45

And as also said, dont respond to any contacts saying they can recover your money if you pay them to help. That's also a scam.

In future, if you see an ad on Facebook for any investment product treat it as a scam.
And also consider how Facebook is quite happy to put up ads that scam you. Do you really want to be a [STRIKE]data source [/STRIKE] user of such a company?

CurvyShervy

AnotherJoe wrote: »

Listen to last Saturdays Moneybox program on BBC radio and see if that applies to you.

Thanks for this, all my money has now mysteriously gone, despite the figures on their 'website' not adding up, and my request earlier in the week to STOP all trading on my account.


Of course all communication from my so-called 'account manager', Chris, has gone quiet, and as you mentioned, I am now being bombarded (at least 10 calls a day) by an 0151 number offering to help get my money back - I have blocked all these numbers.


I'm so sorry for all the others that invested huge amounts, at least mine was 'only' £2k, but that said it's a lot of money to me.


I will contact my credit card company (my main deposits were made by CC) and see what my chances are of recouping any of my money, but I'm not holding out much hope.


Now I just feel so, so stupid, usually I'm very savvy with anything financial, I wasn't expecting huge profits, just thought there might be the chance of a little, and as I support an animal shelter in Santorini any profits were to be donated to them, now we've both lost out : (

AnotherJoe

I dont even know why you were expecting any profits.

If there actually was a foolproof way of making money why the hell would anyone let out the secret for a small commission when they could make billions themselves?
Use the claim method advised by the BBC programme which is to point out that you did not receive the service you paid for, eg a Fx trading scheme. You didn't lose money on failed Fx transactions, you lost it to a scam and the program advised that should mean you can get your money back. Listen to the programme and the points they made very carefully and make sure you claim is because you didnt receive what you paid for , a Fx trading service.

... one of these days I'll get back to Santorini. Love it.

CurvyShervy

Again, thanks! I have to ring my CC company so I'll listen again and make notes so I have the correct terminology!


It fascinates me that these companies aren't shut down, I've also reported them to Action Fraud, not sure it it will do any good but it's worth a try!



Santorini has sadly become a victim of it's own success and is now stupid busy, but if you make it back try and visit SAWA - Santorini Animal Welfare Association, restores your faith in humanity!