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Kontofx is it a scam?
34 replies
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Girds53
Forumite 1 posts
Hello,
Kontofx was recommended to me and I wondered if it is a good investment.
Kontofx was recommended to me and I wondered if it is a good investment.
0
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https://www.fca.org.uk/news/warnings/kontofx
Who recommended it to you?
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Hi I am Gary watts
Kontofx is a scam I have been with them since August, I lnvested £250 pounds to start and it seemed like they were making good profits so I lnvested another £750. I then added a further £1000.i asked to withdraw money from the account and £200 was credited to my bank account. I was contacted again by my account manager Chris asking me to take out a loan of £26000 because of a big event about to happen.
I decided to take out a loan of £10000 and added to my account, through coinbase as advised be my account manager. We agreed I would receive the loan repayments every mouth. I received 1 repayment and now I can't contact them
the profits were good to start with but then they stopped.
do not invest your money with this company thay are very convincing but full of s*** I have recently found out my account manager uses at least 2 different names and works for at least 2 different companies
This is a joke, they report me to trustpoilot within minutes of posting a review. They don't want others to realise they are a scam. All I can hope is that trustpoilet see my evidence ( of which I have a multitude of)
After posting my review i did receive a call stating my account manager no longer works there. What can they do to pacify me and stay with them, I told the guy in no uncertain terms I no long want to stay with them,all I want is the money I put in, not worried about the profit. I withdrew concent to use my account.
Now they are trading my account and losing all my money. funny that they have not tradeed my account for 7 weeks but now they choose to on a deliberate loosing streak.
Every trade they have ever made on my account has allways been under 3 minutes, today thay have opened 5 trades on the same currency and just left open that are draining my account so that they dont have to give my money back, they are currently losing 2000 pounds almost 800 pounds are swaps.
Who did you take out the loan with? As it stands your money is gone but you still have to pay the loan back. Did they do an affordability assessment and did they know what the loan was for?
Change your phone number and contact details; you are on a suckers' list and will be targeted by more frauds in the future. If someone contacts you claiming they can get your money back, it's a scam.
The FCA has a Consumer warning about the risks of investing in cryptocurrency CFDs
https://www.fca.org.uk/news/news-stories/consumer-warning-about-risks-investing-cryptocurrency-cfds
and a specific warning about KontoFX
https://www.fca.org.uk/news/warnings/kontofx
I believe that those who fall for these scams are typically seduced by the promise of spectacular returns and motivated by the thought of getting rich quickly by outperforming mainstream products, and this blinds them to the risks involved and makes them more susceptible to the sort of social engineering embodied by "my account manager Chris asking me to take out a loan of £26000 because of a big event about to happen" after gaining the punter's confidence with some initial illusory gains on smaller amounts.
Everything seemed fine initially and my broker (Alex Voss, probably an alias) made out that my investment was doing really well. Then he put me onto his boss Andy to persuade me to invest more money by taking out a loan of £25,000 upwards ( a special account, Silver, Gold, Platinum!). My instincts knew that this seemed all wrong , so I didn't go ahead. Since then, they have gone quiet and have not responded to my requests to withdraw my investment and profit and to close my account.
Does anyone know if I can go down some route to get my money back?
Regards J
You write it off as lost and go to action fraud to report it. Don't expect anything back.