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KLG-ctx Review | The Best CFD Trading Platform or a Scam?

by Kevin Berry
Rating: 
  1.2/5   Reviews: 3
KLG-ctx - logo

Introducing KLG-ctx – the best CFD trading platform with a rich history and unique conditions, and its goal is to make all its clients wealthy. It’s not wise to believe such pompous and motivational phrases. The company even stated that it is under the supervision of independent regulators and financial commissions, but forgot to add their names, license numbers, and links to the registries. There are too few reviews online to seriously judge the firm as an experienced and well-known brokerage intermediary. Is this a scam or are all the benefits true? Let’s find out now.

Highlights

🏛️ Country Liechtenstein, Republic of Vanuatu
⚠️ Regulation
🖥️ Website https://klgctx.com
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $500
⚖️ Minimum and Maximum Leverage 1:50
⚙️ Trading Platform WebTrader
📨 E-mail support@klgctx.com
📞 Phone +423 233 94 04

First Impression of Klgctx.com

The official website of the broker is presented as a single-page resource, made in a couple of hours. It can’t be called a normal and full-fledged website by any means. KLG-ctx decided not to bother and whipped up their site on some builder. Apparently, they didn’t want to spend a lot of resources and time and quickly launch their brainchild. What does it indicate? It suggests that the firm is hardly aimed at long-term and serious work. One shouldn’t expect anything reliable and decent from a company with a one-page website.

KLG-ctx - site

The site partially introduces us to the trading conditions, but a lot of information is missing. For instance, details about the broker’s activities, its registration documents, and evidence of the stated merits and advantages. The site is presented only in English, and there are some unclear images of offices, supposedly belonging to KLG-ctx. In short, the company’s single-page resource did not impress us.

Partnership and Bonuses

From time to time, KLG-ctx may offer traders bonus promotions. Their conditions are not described in detail, but the company will likely require a certain turnover that exceeds the bonus amount by hundreds or even thousands of times. Additionally, restrictions might be imposed on the deposit, for instance, an inability to withdraw funds until the bonus is worked off. These are typical bonus conditions for such firms.

KLG-ctx doesn’t provide any information about its affiliate program. However, when creating a personal account, you can see a field named “promo code”. So, is there an affiliate program after all? Why then, is there no mention of it on the website?

Account Opening on Klgctx.com

To register an account, you need to click the “registration” button and fill in all the required information. This procedure in KLG-ctx is standard and shouldn’t pose any difficulties. Afterward, the client needs to log into the account using their email and password. Notably, the broker didn’t require confirmation of contact details, which represents a significant flaw in the security system.

Registration

The personal account and trading platform in KLG-ctx are integrated. In other words, the terminal is built into the dashboard. Is it convenient? Definitely not. It would be more comfortable and user-friendly to separate the dashboard and the terminal, but the broker opted for a ready-made solution, resulting in this kind of structure.

The account interface allows users to edit personal information, upload documents for KYC, make financial transactions, and study the history of transactions and trades. Interestingly, the dashboard supports translations into five other European languages. However, KLG-ctx does not offer a demo account, meaning one has to invest real money to test the service and the platform’s capabilities.

KLG-ctx - dashboard

Verification

It’s unclear whether verification in KLG-ctx is mandatory, as documents related to the AML&KYC policy are missing, as is any information regarding this procedure. The account offers the option to upload documents to confirm the client’s identity and residential address. However, overall, KYC remains questionable.

Pros
  • It’s convenient to upload documents.
Cons
  • Do not disclose information without pre-registration.

Trading Software

The trading terminal is presented as a standard WebTrader, where tools and charts are sourced from the popular Tradingview service. KLG-ctx platform allows for technical and graphical analysis of charts, using stop-losses and take-profits, and the creation of favorite asset lists. The terminal is adapted for mobile devices, but only in the form of a browser-based webtrader. Meaning, that a separate Android/iOS application hasn’t been developed.

Such a platform is too basic. It’s considerably limited in capabilities and functionality. Features like market depth, proprietary indicators, auto-trading, and copy-trading are absent. KLG-ctx offers traders a pseudo-terminal, which is not suitable for full-fledged and serious trading. It would have been better if the company provided a popular alternative, like MetaTrader.

Features KLG-ctx National Trade Center Sigwetcapital
Demo Account
Mobile App
Own Development

How Can I Trade With KLG-ctx?

On this platform, you can trade a wide range of asset classes: forex, metals, indices, stocks, commodities, and cryptocurrencies. Traders also have access to leverage of up to 1:50. The minimum deposit and additional features in KLG-ctx depend on the selected tariff.

All Info About Accounts

The broker has three types of accounts:

  • Starter. Minimum deposit $500, standard financial plan, and instant execution. No more additional features.
  • Standard. From $25,000. Insurance, cryptocurrencies, and metals are added, and an individual level financial plan is provided.
  • Professional. From $50,000. Deposit protection, 24/7 personal account, VIP services, and a financial plan premium level.

Account types

The conditions are too strange and unclear. The minimum amounts required by KLG-ctx are eyebrow-raising. A minimum deposit of $500 – why so much? Why is there a massive gap of $24,500 between “Starter” and “Standard”? The only differences are the availability of insurance and the two asset classes. And yes, why can’t beginners trade with all instruments? Traders must invest at least $25,000 to gain access to cryptocurrencies and metals. It seems nonsensical, to be honest.

“Starter” account owners don’t have any privileges. There’s only a mysterious service called “financial plan”. However, where are the training, educational materials, and analytical resources that could be useful for new clients? KLG-ctx is trying to extract as much money as possible from people. Here, one can clearly see the principle of “you need to pay more to get better and more diverse service”.

A minimum deposit of $500, the absence of clarification on important parameters such as spreads and commissions, lack of a demo account, and swap-free tariff – these are signs of a broker not focused on their clients’ needs. Firms like KLG-ctx often turn out to be scammers.

Pros
  • None.
Cons
  • Important terms and conditions are not disclosed.
  • There is no demo account and no Islamic account.
  • KLG-ctx operates on the principle of “pay more and get more”.

Market Analysis and Education With Klgctx.com

Educational resources and market analytics are missing. The only thing KLG-ctx offers its clients is an economic calendar. There isn’t even a basic news feed. How can we talk about seriousness?

Deposit, Withdrawal, and Fees

In the personal cabinet, when topping up the deposit, the system only offers cryptocurrency (USDT and BTC). However, the Refund policy document mentions a bank card. KLG-ctx does not specify the commission fees for transactions or the processing time for withdrawal requests.

Features KLG-ctx SkillsTech Weinsteincorp
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️
Crypto Transfers ✔️ ✔️ ✔️
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

The managers at KLG-ctx are available via email and phone number. An address in Liechtenstein is also provided, which is quite rare among forex brokers. A check of the contact details revealed that the email address does not actually exist.

Fake email

Pros
  • None.
Cons
  • No online chat or social media accounts.
  • Email doesn’t exist.

Is KLG-ctx Dangerous?

The broker appears very odd and suspicious. The firm operates with utmost secrecy, has a single-page and low-value official website, and the provided email address is fake. We are left to check how long KLG-ctx has been operating and what licenses it holds.

How Long Does The Broker Work?

There are no registration documents provided, and the foundation date is not mentioned on the website. KLG-ctx behaves like a typical scam project, adhering to a policy of secrecy and opaqueness. The number of reviews online is minuscule, suggesting that the company emerged very recently. And this happened in August 2023, because that’s when the website’s domain was registered.

Domain

How Is KLG-ctx Regulated?

So, an address in Liechtenstein is listed on the website. It means we need to send an inquiry to FMA Liechtenstein, which oversees broker regulation within its jurisdiction. However, a search on their website yielded no results. KLG-ctx is not listed in the FMA registry.

KLG-ctx - FMA

The user agreement also mentioned the jurisdiction of Vanuatu. The financial commission VFSC regulates forex brokers’ activities there. Perhaps the firm obtained a license there? No, KLG-ctx doesn’t hold a license there either.

KLG-ctx - VFSC

We also decided to check if the firm is genuinely based in Liechtenstein, as this is very intriguing. And unsurprisingly, KLG-ctx is not listed in the Liechtenstein registry of legal entities. It means the given office address is fake.

Fake address

Features KLG-ctx CryptoLogicIQ NordEquity
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With KLG-ctx?

All you need to do is register an account on the official website and then fund your deposit using Bitcoin or Tether (TRC-20). The company might require identity verification. However, there's no demo account available.

Is KLG-ctx Legit?

No, the organization operates unlawfully. First, the broker must obtain licenses, but they haven't. Second, the provided address in Liechtenstein is not genuine.

How Risky Is It?

Trading with firms like KLG-ctx is a guaranteed waste of money and time. The company operates illegally and lies to its clients.
Kevin Berry
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Expert Opinion

Drop the foolish idea of trading with KLG-ctx. They are some anonymous fraudsters wanting to scam trusting individuals out of their money. Illegal activities, fake information, unreasonable terms, a pseudo-platform, and fabricated advantages – how many more red flags can one find here? The list of cons can go on indefinitely. A noname company always means huge risks, which should be avoided. It’s better to trade with safe organizations that have been in the market for a long time, hold valid licenses, and play fair.

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KLG-ctx rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about KLG-ctx

Master666 September 27, 2023 - 06:18
So many negative factors...
The level of trust
Quick withdrawal of funds

The scam broker doesn’t even have a license… there are no legal documents either… and the domain was created just a few months ago… no, you can’t trade here… you’re simply handing your money over to anonymous scammers…

Reply
Dwar October 3, 2023 - 18:49
I lost money here
The level of trust
Quick withdrawal of funds
Efficiency of technical support

The saddest part is when you lose money not by your own choice, but because you’re deceived. That misfortune befell me. I invested $500 in KLG-ctx, tried to trade, but it didn’t work out. One deal after another closed at a loss. The terms here are dreadful. Moreover, it seemed to me that the charts were fake, as in “doctored.” Perhaps because it’s a dealing desk operating on a 100% b-book business model, which profits from traders’ losses. But the most crucial thing to know about this scam is that the withdrawal system doesn’t work. I still can’t retrieve my remaining $400 after the loss-making trades. I tried contacting the broker’s representatives, but to no avail. Their email is fake, and I couldn’t get through on the phone. That’s how I got caught in a scam.

Reply
Garry Gensler October 6, 2023 - 13:22
Check out the pseudo company and you will realize it is a scam
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Had traders who invested money in KLG-ctx done even a superficial fact-check, they would have realized that investing money in such a blatantly fraudulent organization is not advisable.
Try to verify the existence of a legal entity in Liechtenstein, as that’s where their office address is listed. You’ll find nothing because such a scambroker does not exist in Liechtenstein, making the address fake. Also, attempt to check the company’s licenses; they don’t have any. Yet, these scammers gleefully claim they operate under regulatory oversight. But that’s utter nonsense.
The broker also lies about its liquidity providers, its reliability, and about offering the best service. There are no liquidity providers, nor any reliability. Guarantees are entirely lacking. KLG-ctx is just another fraud project masquerading as a forex broker.

Reply

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