KBCTrade: reviews about the company in 2022
Being objective in assessing the activities of the broker KBCTrade at the present time is quite difficult. The available information on the Internet is missing, reviews about the company are not found, and the data presented on the website raise more questions than they answer. Let’s figure out what causes these doubts and whether this company can be trusted in the conditions of the modern financial market.
Verification of basic data
The official website of the intermediary KBCTrade is designed in a minimalist style, but this applies not only to the design but also to the degree of elaboration. It can be immediately noticed that the website was created in the least costly way. It is also evident that the target audience of this company is Russian-speaking users, as the website is available only in Russian, and Russian financial services are mentioned as payment services. However, it should not be forgotten that KBCTrade does not have any offices in Russia or any other country. The address indicated on the website, judging by the Google map, actually belongs to a car rental service.
According to the information presented on the website, KBCTrade is registered in the UK. However, when checking the trade register of the kingdom, no organization with this name was found.
The last confidence that KBCTrade is a domestic scam project came after checking the domain in the Whois database. The domain kbctrade.online was registered only in April of this year, indicating that the company has existed for only a few months. Additionally, it is worth noting that the registrant of the domain, presumably a British broker, is Natalia Malkova from the Kirov region of the Russian Federation.
Obviously, KBCTrade is another fraudulent project created for deception and luring money under the guise of trading. The absence of accounts on social networks, unclearly formulated documents, and only superficial descriptions of services indicate that the website simply presents self-promotion and standard text without specifics.
What licenses does KBCTrade have?
The website kbctrade.online does not indicate who regulates the activities of the company. Considering that the audience of KBCTrade is Russian, it can be assumed that this issue should be handled by the Central Bank of the Russian Federation. However, KBCTrade is not listed among the licensees of this organization.
Opening an account with a broker without a license is a risky business. In this case, the risk is doubled, as the company does not comply with the laws of any country.
Under what conditions can you trade at KBCTrade?
To attract a wide range of traders, KBCTrade has invented six different types of trading accounts. The most affordable is Micro, for which only $250 needs to be deposited. The conditions in the VIP tariff are considered the most favorable, but to activate this tariff, you will need to invest at least $100,000. The main advantage is the reduction of the spread by 1 point and the absence of certain commissions. In general, the conditions are the same for all tariffs:
- Base currencies: euros, dollars, and rubles.
- Leverage 1:100.
- 390 trading assets.
- Welcome bonus.
The broker promises to hold webinars and provide assistance of financial analysts. However, reviews about such scammers indicate that a personal manager is just a clever trick to lure money. Information about the platform, deposit and withdrawal conditions, as well as the size of commissions, is not disclosed, which probably indicates the presence of hidden fees.
Reviews in the Russian-speaking Internet about KBCTrade
Due to the recent appearance of the company and the low quality of the website, there are currently no clients of KBCTrade. No reviews of cooperation of either negative or positive nature have been found on forums and specialized platforms. Perhaps, over time, new reviews will appear that will complement this information.
How are deposits drained at KBCTrade?
Pseudo-brokerage companies are actively operating in the CIS countries, taking advantage of the insufficient level of financial literacy of the population. This allows scammers to convince traders of the prospects of investing and receiving stable income. Scammers so skillfully deceive their victims that they are willing to sacrifice valuable property just to invest as much money as possible. In numerous reviews, people complain about losing large sums of money by trusting fraudsters.
In KBCTrade, clients cannot execute their trades on the market; they are only provided with a trading platform simulator, and real funds do not enter the balance but are immediately transferred to the scammers’ cards. The company convinces traders to deposit funds in cryptocurrency, under the guise of the most advantageous method. In reality, this helps fraudsters evade responsibility and deprives clients of the opportunity to recover money through the chargeback process.
Is it worth trusting KBCTrade?
No specialist recommends turning to this company for trading. Simple checks indicate that a company with this name does not exist, and all the data presented are fictitious. KBCTrade is a serial novelty, operating illegally and without a license in Russia. There are no reviews of the “kitchen” operation yet, indicating that scammers are just starting their project.
