Upon initial inspection, Koterex Exchange raises suspicion with its claimed credentials. It asserts to have established offices in Australia and boasts a history dating back to 2018, ostensibly simplifying our investigation process.
However, a glaring discrepancy emerges when we cross-reference this information. According to Who.is, the website’s operation only commenced in 2023, throwing into doubt their proclaimed longevity.
To unveil the truth behind these contradictions, it is imperative to scrutinize this Koterex review meticulously, as it promises to unveil the web of deception spun by the platform.
Is Koterex Trustworthy or a Fraud?
Koterex, being an Australian company with a physical address in Australia, is required to obtain an AUSTRAC license for handling digital assets. However, it is noteworthy that Koterex does not appear in the AUSTRAC register, which raises doubts about the exchange’s legality.
Furthermore, it’s crucial to highlight that Koterex is conspicuously absent from the registers of other prominent Top Tier regulatory authorities such as BaFin, FCA, and CFTC.
Identifying Koterex’s Affected Individuals
Extensive reviews on Koterex’s activities remain scarce, but signs indicate that cautionary alerts may surface from official entities in the near future. Nonetheless, it seems that the majority of Koterex’s clientele originates from the following regions:
- United States
- Germany
- Austria
- United Kingdom
I invite you to share your perspectives on the Koterex website and the country you presently reside in, helping us expand this list. Ultimately, should you contact our refund team, you can access valuable guidance on your next course of action.
Available Trading Platforms on Koterex.com
The only trading platform accessible on Koterex.com is a basic web-based exchange. Unfortunately, this limitation doesn’t enhance the company’s credibility, especially since such platforms can be easily manipulated by users. Therefore, it is advisable to engage exclusively with authorized and regulated businesses. Our review of EXMOEX serves as a prime example of the risks associated with unregulated entities.
Koterex Mobile Trading App: Is It Offered?
A significant concern arises from the absence of a mobile app for this exchange, alongside the missing Koterex license. Neither iOS nor Android platforms are supported. Instead, consider exchanges that provide mobile apps boasting user bases of 10–50 million users or more.
Financial Instruments Available on the Platform
It’s highly likely that the information presented on the Koterex.com platform is fictitious. However, they claim to offer a broad range of tradeable assets, including but not limited to:
- BTC/USDT
- BCH/USDT
- XRP/USDT
Account Types Offered by Koterex
Typically, various account types encourage investors to make larger deposits or conduct more substantial trading. These tiers often come with improved trading conditions. However, in the case of the dubious Koterex exchange, they only provide two account types:
- Standard
- Premium
Koterex Demo Account Availability
In conclusion, Koterex does not offer a demo account option. Despite providing some platform insights, there is no opportunity to practice trading with virtual money before committing real capital. Consequently, due to the lackluster support provided by Koterex, traders should temper their expectations.
Koterex Fees, Spreads, Leverage, and Commissions
The company imposes a fee of 0.2 percent for standard accounts, regardless of whether you’re a maker or a taker. A premium account can enjoy lower fees at 0.14%, though the prerequisites for a premium account remain undisclosed. Additionally, Koterex charges a withdrawal commission, but specific details regarding this fee are yet to be disclosed.
Koterex Welcome Bonus: Is It Offered?
Offering welcome bonuses is a common strategy to entice deposits, often utilized by scam brokers. However, it is illegal in many countries with stringent regulations, and Koterex does not provide such bonuses on their website. To learn how to identify dubious offers and bonuses, consider reading our updated FameEX review.
Conclusion: Evaluating Koterex
Koterex raises significant concerns across multiple aspects, including its lack of regulatory compliance, absence of a mobile trading app, and the dubious nature of the trading platform’s information. The absence of a demo account option further adds to its limitations. Additionally, fee structures and the prerequisites for premium accounts remain unclear, leaving potential users in the dark about the costs involved. Koterex does not offer welcome bonuses, aligning with regulatory restrictions.
Overall, caution is advised when considering any involvement with Koterex, and users should explore more transparent and regulated alternatives in the cryptocurrency exchange space.
Comments