Are you planning to trade the assets offered by KnownFX broker? It is very important to investigate before depositing your funds with a new broker. Please read this KnownFX Review to understand if it is a scam or genuine broker.
KnownFX asserts to be the owner of the Companies House (CH) certificate of incorporation bearing the business number 14690982. It should be emphasised that the CH does not have the legal jurisdiction to issue forex licences or regulate forex activity; rather, it is in charge of forming and dissolving limited companies in the UK. Also, KnownFX has received a warning from the UK’s Financial Conduct Authority (FCA) for supplying financial services or products in the country without permission.
The fact is that KnownFX is not under any regulatory authority. It is risky to allow this broker to hold or handle investors’ money, and there is no legal safeguard for that money. As a result, it is a fraud.
Broker Website – https://knownfx.com/
Headquarters or Area of Operation – 174 Camden High Street, London, England, UNITED KINGDOM, NW1 0NE
Warnings – Financial Conduct Authority (United Kingdom)
When was the KnownFX website domain set up?
|Date Registered||February 20, 2023|
|Domain Age||27 days, 18 hours, 57 minutes, 42 seconds|
Having the potential to make someone go into a debt trap, scammers lure their victims in with irresistible offers and discounts. In this segment, we will be telling our readers about a few important points that you must look for in a broker before opening an account with them. Remember, nobody has a right over your money. KnownFX is found to possess some or all of the following traits of a scam broker. Please read them below and verify with KnownFX.
KnownFX Review: Red Flags
Investment scams such as Forex trading scams, Binary trading scams, Romance scams, Cryptocurrency scams and others are harder to spot. But still there are signs. Here are some red flags why knownfx.com is suspected as scam broker.
KnownFX Review: Is KnownFX Regulated?
Mostly, unregulated brokers offer investment opportunities that look and sound very attractive, with the highest potential gains. Sometimes, they share fake information about the regulation, but true information is consistently available through the regulator’s sites, so analyze it cautiously.
It means a lot to give more profundity concerning where and how the broker is regulated, where they reside, and who owns the business. Many brokers have more than one authority to supervise them, but some brokers do not have any. You should avoid such brokers, as they are a threat to your money.
Check out more unregulated and untrustworthy scam brokers in our Scam Broker 2023 list.
KnownFX Review: Deposit and Withdrawal Issues
Scam brokers convince customers that because of some technical problem they can’t access their accounts. They might utilize the accompanying strategies:
- Will charge high withdrawal expenses.
- Will forcefully encourage investors to make additional trades.
- Stop communication.
If KnownFX is doing any of these things and not allowing fund withdrawal, contact us today.
You can find many negative knownfx.com reviews on the web. We advise you to do a search for online reviews of brokers. A conventional web search can give experiences into whether negative remarks could simply be a disappointed dealer or something more serious. A decent enhancement to this kind of search is our scam brokers 2023 list, which indicates who scam brokers are and why you should avoid them. Acquire a more clear comprehension of the guidelines for forex brokers and any other brokers.
Is a Minimum Deposit permissible?
The minimum deposit is generally asked in very small amounts by legitimate brokers as taking huge amounts as the minimum deposit is not advised by the regulations. However, the tradition of taking huge minimum deposits is extremely common in scam brokers as their main aim is to steal as much money as they can from the trader before they get suspicious. The usual amount asked by legitimate brokers lies in the range of $5 to $10. If the broker asks for an amount more than the average, chance of a scam.
How to avoid getting scammed?
- Look at the broker’s experience and regulation status.
- Check whether the broker is included on the scam broker list of major regulators like FCA, FMA, ASIC, SEC, etc.
- Do all necessary investigations! Read scam broker reviews to get better information about brokers.
- Ensure the broker has contact details like email, telephone contact, address, etc.
- Try not to trust commitments of heavenly returns.
Is KnownFX Legit or a scam? Final Thoughts
Sometimes scammers are increasingly using legitimate firms’ details to add an air of legitimacy to their scams. The fraudsters will ‘borrow’ some information from a legitimate firm for the purpose of fraud. They may quote authorization numbers/company registration numbers and links to seemingly legitimate websites and even provide the real address of an authorized/ legitimate firm.
Consumers are advised to check our scam broker 2023 page to verify company details and to call the firm back directly using its advertised phone number. Always access the register from our website, rather than through links in emails or on a company/ person’s website.
To sum up, all that has been said above in this KnownFX review, we give you the power to decide whether the broker is a scam or not. We request the readers move forward with extreme caution.
Scam Victims Help specialists research the brokers and find if they are involved in scams. We researched a lot about brokers to assist customers in taking the right decision.
We suggest investors stay away from this broker and go for the genuine one. If you have been a victim of KnownFX scam or any other broker, do not feel embarrassed.
Victims of forex scams, cryptocurrency scams, binary scams, pet scams, dating/romance scams, or any number of scams should raise their voices and get their funds recovered. This will not only help them but all the victims who are struggling to get their deposits back. Apart from this, it will also help other people to be alert to such scammers and scams.
File a complaint against KnownFX fraud right now and get instant help from our team in fund recovery!
Get help in forex scam recovery, crypto scam recovery, binary scam recovery, romance scam recovery, and also get a free consultation.
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Also, check which brokers got the warning from the Italian regulator CONSOB.
Note: Scam Victims Help has extensively researched the KnownFX Review and found several red flags that every trader should be aware of. Read our KnownFX review today to learn everything you need to know about this broker before signing up.
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