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  • FIRST POST
    • Girds53
    • By Girds53 10th Dec 18, 10:37 PM
    • 1Posts
    • 1Thanks
    Girds53
    Kontofx is it a scam?
    • #1
    • 10th Dec 18, 10:37 PM
    Kontofx is it a scam? 10th Dec 18 at 10:37 PM
    Hello,

    Kontofx was recommended to me and I wondered if it is a good investment.
Page 2
    • Wildsound
    • By Wildsound 27th Jun 19, 11:11 PM
    • 327 Posts
    • 269 Thanks
    Wildsound
    Don't give companies money if they have an FCA warning against them, especially if the money you're considering giving them was in the form of a loan.

    A very quick google tells me this is an unregulated company, trading crypto, based in Estonia. Come on people, it's really not that difficult, they may as well plaster a massive "SCAM" banner on their website it's that in your face.
    Originally posted by MaxiRobriguez
    Also, don't give these companies screen time by bumping 2 month old threads! It just gives them more attention!
    • MaxiRobriguez
    • By MaxiRobriguez 28th Jun 19, 8:34 AM
    • 639 Posts
    • 465 Thanks
    MaxiRobriguez
    Also, don't give these companies screen time by bumping 2 month old threads! It just gives them more attention!
    Originally posted by Wildsound
    It got bumped before my post, but that post has since been deleted.
    • Malthusian
    • By Malthusian 28th Jun 19, 9:26 AM
    • 7,103 Posts
    • 11,431 Thanks
    Malthusian
    Also, don't give these companies screen time by bumping 2 month old threads! It just gives them more attention!
    Originally posted by Wildsound
    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
    • By webjaved 28th Jun 19, 10:01 AM
    • 223 Posts
    • 251 Thanks
    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.
    Save £12k in 2019 #154 - £12,696.98/£12k
    • Aretnap
    • By Aretnap 28th Jun 19, 10:25 AM
    • 3,524 Posts
    • 3,139 Thanks
    Aretnap
    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.
    Originally posted by Malthusian
    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
    • By londoninvestor 28th Jun 19, 6:47 PM
    • 1,335 Posts
    • 1,178 Thanks
    londoninvestor
    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.
    Originally posted by Aretnap
    http://www.tradingstandardsecrime.org.uk/fraud-recovery-fraud/
    • CurvyShervy
    • By CurvyShervy 25th Sep 19, 8:06 PM
    • 4 Posts
    • 3 Thanks
    CurvyShervy
    I've been sucked in!
    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
    • By AnotherJoe 25th Sep 19, 8:38 PM
    • 16,371 Posts
    • 19,676 Thanks
    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 data source user of such a company?
    • CurvyShervy
    • By CurvyShervy 5th Oct 19, 12:47 PM
    • 4 Posts
    • 3 Thanks
    CurvyShervy
    Listen to last Saturdays Moneybox program on BBC radio and see if that applies to you.
    Originally posted by AnotherJoe
    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
    • By AnotherJoe 5th Oct 19, 7:58 PM
    • 16,371 Posts
    • 19,676 Thanks
    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
    • By CurvyShervy 6th Oct 19, 9:24 AM
    • 4 Posts
    • 3 Thanks
    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!
    • CurvyShervy
    • By CurvyShervy 18th Oct 19, 2:46 PM
    • 4 Posts
    • 3 Thanks
    CurvyShervy
    No joy with the CC company
    No joy whatsoever with my credit card company, is there anyone else I can contact about this, or should I just resign myself to the money being lost?
    • fwor
    • By fwor 18th Oct 19, 3:15 PM
    • 6,245 Posts
    • 4,302 Thanks
    fwor
    Given that they are not UK-based and have no authority to operate regulated activities in the UK, your only remaining option would be to go after them in Estonia and/or Hungary.

    Even if you were to try that, you can bet that the type of people that run operations like this are going to be skilled in ducking and diving. So for £2k I would think that your best course of action would be to write it off and move on.
    • AnotherJoe
    • By AnotherJoe 18th Oct 19, 6:45 PM
    • 16,371 Posts
    • 19,676 Thanks
    AnotherJoe
    No joy whatsoever with my credit card company, is there anyone else I can contact about this, or should I just resign myself to the money being lost?
    Originally posted by CurvyShervy

    I'm sure there's an ombudsman you can complain to.
    The BBC programme, AFAICR, said that the default position of the CC companies was to respond that they dont guarantee investments, but the point is, you didnt have an investment, you were scammed and told you had an investment but it wasnt they just took your money and ran off.
    Good luck
    Please dont criticise my spelling. It's excellent. Its my typing that's bad.
    • Voyager2002
    • By Voyager2002 7th Nov 19, 10:36 AM
    • 13,425 Posts
    • 9,251 Thanks
    Voyager2002
    Till date I still wonder how I fell for this cheap scam, they kept convincing me to invest more and most payments were by bitcoins, I was super surprised when XXX was able to get most of my money back because by their name I felt they could only recover other forms of payments related to binary options but to my surprise they came out good. Iím done with any form of these investments.
    Originally posted by brgrra207

    Fraud reported.
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