pic

Kloredex Review | One of the Safest Platforms in the Industry or a Scam?

by Kevin Berry
Rating: 
  1/5   Reviews: 3
Kloredex - logo

Welcome to our comprehensive review of Kloredex, a cryptocurrency exchange that boldly claims to be one of the safest platforms in the industry. Promising security and reliability, Kloredex presents itself as a trustworthy destination for crypto enthusiasts. However, we are here to challenge this narrative and shed light on the reality hidden beneath the surface. It seems that this exchange falls into the realm of scams.

Highlights

🏛️ Country UK
⚠️ Regulation
🖥️ Website https://kloredex.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit
⚖️ Minimum and Maximum Leverage
⚙️ Trading Platform WebTrader
📨 E-mail
📞 Phone

First Impression of Kloredex.com

The official website of Kloredex exhibits one unpleasant characteristic – it requires registration to access any content. Even on the main page, there is limited information available about the exchange. In fact, even the legal information is only accessible after logging in. Moreover, the website itself lacks an impressive and visually appealing design, appearing rather standard and unremarkable.

Website

Partnership and Bonuses

Despite the absence of any hints on the homepage, Kloredex offers bonuses to its users. To claim these bonuses, you must obtain a promotional code and activate it, following which the funds will be credited to your account. Additionally, the exchange boasts a partnership program, allowing users to share their personal referral links with others. In return for their referrals’ deposits, users supposedly receive deposit bonuses, although the specific amount is not disclosed.

Account Opening on Kloredex.com

Opening an account is a quick and straightforward process that doesn’t consume much time. In reality, traders only need to fill out a short questionnaire and provide their email address and password. Upon completion, they immediately gain access to their personal dashboard.

Kloredex - Client Portal

The Client Portal also includes real-time market data and charts. Besides, you’ll have access to account settings, where you can manage your personal information, set preferences, and adjust security settings.

Verification

Kloredex has implemented an Anti-Money Laundering (AML) and Know Your Customer (KYC) policy, as reflected in their documentation. This means that users will be required to undergo a verification process to ensure compliance with regulatory requirements. As part of the verification process, users are typically required to submit scanned or photographed copies of their identification documents. This may include a government-issued ID card, passport, or driver’s license. Also, you may be required to provide a selfie or a photograph with your identification document.

Pros
  • KYC.
Cons
  • Terms of verification are not specified.

Trading Software

Trading on Kloredex is conducted through a web-based trading platform. However, it is not entirely clear who developed this platform as there is no identifiable branding or trademarks associated with it.

The web trader on Kloredex offers a basic set of features, focusing primarily on charting capabilities. Users can access and view charts to analyze price movements and trends in various financial instruments. However, the platform lacks advanced trading tools and indicators commonly found on more comprehensive trading platforms.

WebTrader

Features Kloredex Genesis Exchange  AI Global Group
Demo Account
Mobile App
Own Development ✔️ ✔️

How Can I Trade With Kloredex?

Kloredex, in principle, does not offer anything new that you haven’t already seen in the cryptocurrency industry.

All Info About Accounts

To begin with, this company does not have account differentiation. There is only a single account available for traders, which can be used for spot trading. However, compared to industry giants, the range of trading assets available on Kloredex is relatively limited. Based on the platform, it appears that margin trading and derivative trading, such as futures, are not offered. On the other hand, users can engage in peer-to-peer trading on the platform. Additionally, Kloredex provides the option to swap certain cryptocurrencies without any commission fees.

Pros
  • Swap-free.
Cons
  • No margin or derivative trade.

Market Analysis and Education With Kloredex.com

In addition to regular trading, the company also offers staking services. Users can stake in four cryptocurrencies: BTC, ETH, BCH, and ETC. However, the choice of supported cryptocurrencies is not quite extensive. The daily interest rate for staking increases based on the duration for which you lock your cryptocurrency. For example, Bitcoin can be staked for 7, 14, 30, or 90 days, with daily returns ranging from 0.1% to 0.15%.

When it comes to market analysis and education, Kloredex falls short. The company provides a market scanner and basic tools for technical analysis, but that’s about it. There is no structured education program like the one offered by Binance Academy, for instance.

Deposit, Withdrawal, and Fees

To fund your account on Kloredex, you can only deposit cryptocurrencies. They support not only popular coins but also stablecoins. The same methods apply for withdrawals. They do not provide information about the fees, but please note that blockchain transaction fees apply.

Features Kloredex Crypto Comeback Pro BTC-MARKETS
Debit/Credit Cards
Electronic Payments
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee

How Can I Contact It?

Just like many other cryptocurrency exchanges, Kloredex doesn’t offer traditional methods of communication. However, you can contact their support team through the live chat feature.

Pros
  • Live chat.
Cons
  • Limited contacts.

Is Kloredex Dangerous?

It’s unclear whether Kloredex is involved in any scam activities, but we cannot confidently label it as the safest exchange. One of the reasons is its lack of widespread recognition.

How Long Does The Exchange Work?

Interestingly, Kloredex proclaimed itself the safest exchange within just three months of its operation. According to the Whois service, the website was created on February 14, 2023. Even companies with years of experience in the industry face various hacking attempts. So, what can we expect from a website that’s only been around for a couple of months?

Domain info

How Is Kloredex Regulated?

The answer to that question is quite simple: none. Kloredex claims to be operated by a legal entity called Crypto Arby Trade Limited. The user agreement states that the broker operates in compliance with the laws of the United Kingdom, and any disputes should be resolved in that jurisdiction. Interestingly, there is indeed a registered entity with that name in the UK registry. However, there’s a small caveat that readers may find intriguing. The issue is that Crypto Arby Trade Limited was incorporated in 2021 and dissolved in 2022. In other words, this exchange doesn’t exist legally. Nevertheless, it positions itself as centralized, which implies that it should have some form of legal registration in a jurisdiction.

Legal data

Features Kloredex Probits RollerCoin
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With Kloredex?

You can register an account, undergo a verification process, deposit funds, and start trading.

Is Kloredex Legit?

No, it is not. It lacks proper legal registration and is not regulated by any recognized authority.

How Risky Is It?

Kloredex may be a scam. The absence of legal registration and regulatory oversight raises concerns about the security of users' funds and the reliability of the platform.
Kevin Berry
Ask question
Expert Opinion

Here’s a little fun fact to lighten the mood: Kloredex is like that one elusive friend who never shows up to the party but claims to be the life of it! You won’t find them on CoinMarketCap, the ultimate guest list for crypto exchanges. So, while they might have their reasons, it’s wise to stick with the popular crowd and trade on exchanges that have earned their spot in the limelight. After all, you don’t want to be left hanging with Kloredex, the no-shows. Keep your investments secure and party on reputable exchanges.

You may also like

Kloredex rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
Leave a review

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

3 reviews about Kloredex

Darren May 12, 2023 - 22:03
They scam people through a cryptocurrency arbitrage scheme.
The level of trust

Rumors have it that these are all fraudulent schemes where clever scammers deceive people through crypto arbitrage. They say you can profitably sell or buy cryptocurrencies, taking advantage of commission-free exchanges. Be careful. Most likely, they find victims through social media, spamming private messages or adding them to fake channels and groups. I advise you to check the option that prevents others from adding you to any channels or groups without your consent. That way, you’ll encounter fewer scams. And never trust anyone who enters a private message.

Reply
Arthur May 16, 2023 - 15:18
Do not even think about registering here. ‌
The level of trust

Such fake cryptocurrency exchanges should be avoided. Anonymity is the main ‘red’ flag, and on top of that, there’s the ‘unknown’ factor. No one knows anything about Kloredex. Definitely an unsuitable platform for any actions, full of scams and fraudulent schemes. Stay away from it..

Reply
Vivien May 25, 2023 - 11:39
I think that this cryptocurrency exchange is not suitable for anything.
The level of trust

Well, you see, I don’t know about this exchange. I’ve been in cryptocurrency since 2016 and have tried numerous platforms. Currently, I mainly trade and buy/sell cryptocurrencies on DEX platforms. In all this time, I haven’t heard about this platform even once. I haven’t seen it in the news or any advertisements. I haven’t seen anyone discussing it in chats or forums, nor have I seen any bloggers promoting its stocks, bonuses, or services. Even in 2022, when the popularity of P2P services surged, this platform was unknown. And I understand why. Simply put, it didn’t exist. The domain appeared only in February 2023. That explains everything.
Using a P2P service here is risky. Moreover, I believe that all the users you can see on this platform engaged in buying and selling are fake. They are simply there for the show, possibly even part of a scam. I just don’t see how a platform that is barely a month old can have more than 10 users, let alone a diverse range of them.

Reply

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy