Caution Investors Kartexer – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Overview:
Kartexer is a website that allows users to trade forex, stocks, commodities, cryptocurrencies, and indices. It was founded in 2019 and is based in St. Vincent and the Grenadines, a notorious offshore jurisdiction for shady businesses. Kartexer claims to have over 100,000 clients worldwide and to provide a user-friendly and secure platform with advanced tools and features.
However, there are many red flags that suggest that Kartexer is not a trustworthy or reliable broker. The most alarming one is that it is not regulated by any reputable authority, such as the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), or the Cyprus Securities and Exchange Commission (CySEC). This means that Kartexer does not have to comply with any rules or standards regarding customer protection, fair trading, anti-money laundering, or dispute resolution. If you deposit money with Kartexer, you have no guarantee that you will be able to withdraw it or that your funds are safe from fraud or theft.
Regulation and Compliance:
As mentioned above, Kartexer is not regulated by any reputable authority. This means that it operates in a legal grey area and can do whatever it wants with your money without any oversight or accountability. For example, Kartexer can manipulate the prices and spreads of the assets it offers, execute your orders at unfavorable rates, charge hidden fees or commissions, cancel your profits or trades without justification, or simply refuse to process your withdrawal requests.
Moreover, Kartexer does not have a valid license to operate in Australia or any other country where it solicits customers. This means that it is breaking the law and exposing you to legal risks if you trade with it. You may also face tax issues or penalties if you fail to report your income or losses from trading with an unregulated broker.
Customer Reviews:
Another way to assess the credibility and reputation of a broker is to look at customer reviews and feedback. Unfortunately, Kartexer has received many negative reviews and complaints from its users on various platforms, such as Trustpilot, Forex Peace Army, Scamwatch, and Reddit. Some of the common issues that customers have reported are:
– Difficulty or impossibility to withdraw money from their accounts
– Poor customer service and communication
– High-pressure tactics and harassment from account managers
– False or misleading advertising and promises
– Technical glitches and errors on the platform
– Unauthorized charges or deductions from their accounts
– Loss of money due to faulty signals or advice
Products and Services:
Kartexer claims to offer a wide range of products and services to its customers, such as:
– Access to over 250 assets across various markets
– Low fees and commissions
– High leverage up to 1:1000
– Multiple account types and payment methods
– Educational resources and webinars
– Trading signals and indicators
– Social trading and copy trading features
However, these claims are either exaggerated or false. For instance, Kartexer does not disclose the exact fees and commissions it charges for each asset or transaction. It also does not provide any proof or verification of its trading signals or indicators. Moreover, its social trading and copy trading features are unreliable and risky, as they may expose you to unqualified or fraudulent traders who may cause you to lose money.
Location:
Kartexer is based in St. Vincent and the Grenadines, a small island nation in the Caribbean Sea. This location is known for being a haven for offshore companies that want to avoid regulation and taxation. Many scam brokers choose this jurisdiction because it has weak laws and enforcement regarding financial services and consumer protection. Furthermore, it is very difficult to track down or sue these companies if they disappear with your money or commit fraud.
Customer Service:
Kartexer claims to have a professional and responsive customer service team that is available 24/7 via phone, email, live chat, or social media. However, this claim is contradicted by the numerous complaints and negative reviews from customers who have experienced poor customer service from Kartexer. Some of the common problems that customers have encountered are:
– Long waiting times or no response at all
– Rude or unhelpful agents
– Language barriers or communication difficulties
– Lack of knowledge or expertise
– Unresolved issues or disputes
Is Your Money Safe in an unregulated company?
The short answer is no. Your money is not safe in an unregulated company like Kartexer. As explained earlier, Kartexer does not have to follow any rules or standards regarding customer protection, fair trading, anti-money laundering, or dispute resolution. This means that Kartexer can do whatever it wants with your money without any oversight or accountability. If you deposit money with Kartexer, you have no guarantee that you will be able to withdraw it or that your funds are safe from fraud or theft.
Moreover, Kartexer does not segregate its clients’ funds from its own funds. This means that Kartexer can use your money for its own purposes, such as paying its expenses, covering its losses, or investing in other ventures. If Kartexer goes bankrupt or gets shut down by the authorities, you may lose all your money and have no recourse to recover it.
Conclusion:
Kartexer is an unregulated and unreliable broker that should be avoided at all costs. It has many red flags and drawbacks that outweigh any potential benefits or advantages it may offer. It is not licensed to operate in Australia or any other country where it solicits customers. It does not comply with any rules or standards regarding customer protection, fair trading, anti-money laundering, or dispute resolution. It has received many negative reviews and complaints from customers who have experienced difficulty or impossibility in withdrawing money, poor customer service, high-pressure tactics, false or misleading advertising, technical glitches, unauthorized charges, and loss of money due to faulty signals or advice.
If you are looking for a trustworthy and reputable broker to trade with, you should choose one that is regulated by a reputable authority, such as the ASIC, the FCA, or the CySEC. These regulators have strict rules and standards that ensure that brokers provide fair and transparent services to their customers. They also have mechanisms and procedures to handle any issues or disputes that may arise between brokers and customers. They also require brokers to segregate their clients’ funds from their own funds and to participate in compensation schemes that protect customers in case of insolvency or fraud.
Trading with a regulated broker will give you peace of mind and security that your money is safe and that you have access to quality products and services. You will also have more chances of making profits and achieving your trading goals.
