Trading on the Forex market can be a lucrative opportunity for many investors, but there are also many risks involved. One of the major risks is the prevalence of scam brokers who deceive traders and ultimately steal their money. Kraemfx Trading Co Ltd is one such broker that has been flagged by several watchdogs as being fraudulent, putting the investments of their clients at risk.
Company Overview
| Broker Name | Kraemfx Trading Co Ltd |
| Website | https://kraemvip.com/en/index |
| Location | United States, UK |
| Regulation | Not regulated |
| Warnings | Multiple |
Team
Interestingly enough, Kraemfx does not provide any information about its leadership team on its website. This is a red flag that raises questions about accountability and transparency.
Services and Products
Kraemfx Trading Co Ltd offers a standard range of financial products, including Forex, commodities, indices, and cryptocurrency trades. However, their offering is vague and lacks detail, which makes it difficult to determine the quality of their services.
Trading Platform
Kraemfx Trading Co Limited gives access to the Metatrader 5 distribution displayed below. This is a wonderful platform, however, the broker that provides it is not – there are many better firms that have the software accessible than Kraemfx Trading Co Ltd!
License and Regulation
License Status
Kraemfx Trade Co Limited claims to be based in the United Kingdom at the following address:
To do so, the corporation would require a license from the FCA, the British regulatory authority. It does not, however, have such a license. As a result, the broker lies about its regulation, which is a frequent scam indicator.
We are confident that it does not have that license because UK brokers are not permitted to provide retail clients with leverage greater than 1:30, as Kraemfx Trading Co Ltd does.
Regulation Status
We already showed that they are not regulated by any regulatory organizations. We searched with FCA and we did not find any results.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Why Should Not You Trust An Unlicensed Broker?
The regulatory stamp of approval shows that the Forex broker is operating in compliance with established rules and regulations. A Forex broker who knowingly operates unlicensed may not follow industry standards, putting their clients in jeopardy. Also, unlicensed Forex brokers are prone to fraudulent activities, and there is a higher likelihood of money laundering and financial irregularities.
Legal Warnings Against Kraemfx Trading Co Ltd
Financial regulators in several countries have flagged Kraemfx Trading Co Ltd as a fraudulent Forex broker. Belgium’s Financial Services and Markets Authority (FSMA) has published several warnings to the public against Kraemfx. The German Federal Financial Supervisory Authority (BaFin) and the British Financial Conduct Authority (FCA) also warned the public about Kraemfx.
Client Feedback About Kraemfx Trading Co Ltd
About Their Trading
Numerous clients have reported that they could not access their funds, while others found that their trading accounts were closed without warning. Many clients also complained about technical issues on the Kraemfx platform and pricing discrepancies.
About Their Customer Service
Customer service is one of the most critical components of evaluating a Forex broker. Kraemfx Trading Co Ltd’s customer service has also received critical reviews. Clients often shared that they could not get a hold of anyone when attempting to contact the company or conversing with unhelpful representatives.
How Can Reviewsadvice Help You If You Get Scammed?
Reviewsadvice is a Forex watchdog organization that is committed to helping victims of fraudulent Forex brokers. They offer resources to help traders avoid scams and deal with Forex fraud if they become a victim. If you get scammed by this broker, you can submit your case to us. You will get a free consultation and service recommendations to help you in recovering process.
Final Thought
Kraemfx Trading Co Ltd is a fraudulent Forex broker that has been reported by multiple regulatory authorities. Our review of this broker revealed several red flags, such as a lack of a license, an unresponsive customer service team, and poor customer reviews. Traders should be cautious when dealing with such brokers, and stay away to avoid financial loss.
