KontoFX

KontoFX locked my account without warning and demanded documents I had already submitted. since the beginning of the year later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.

I had high hopes for KontoFX based on a colleague's recommendation, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.

The spread at KontoFX is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after attending a webinar they hosted and initially thought the platform was good - until I started trading seriously.

My withdrawal from KontoFX was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for nearly two years of being strung along.

I closed a profitable position at KontoFX and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.

I had a dispute with KontoFX and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.

My card was charged twice by KontoFX on the same day. I had to dispute it with my bank. KontoFX then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.

After since I opened my account last year with KontoFX, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.

KYC with KontoFX is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.

KontoFX has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.