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Is Kronosinvest a scam broker?
Kronos Invest is a Forex and CFD broker which is owned and operated by a group of companies. So, if you are eager to see whether Kronos Invest is a scam or legit, please continue reading the review till the very end.
About Kronos Invest
According to their official website, Kronos Invest is being owned and operated by a group of companies that include Lemato Partners LTD, registered in St.Vincent and the Grenadines and Salamanca Crop Partnership OU, registered in Estonia. The company offers its investors various trading options including Forex, stocks, indices, commodities, CFD etc.
Kronos Invest offers investors with four different trading accounts to choose from including:
- Blue – $250 Minimum Deposit
- Silver – $5000 Minimum Deposit
- Gold – $20,000 Minimum Deposit
- Elite – $50,000 Minimum Deposit
But there is no information about the leverage offered or the spreads. According to their site, every account type is entitled to a personal account manager. One startling thing that we discovered is customer support is not available through phone for Blue account type users. Don’t know what the logic here, as people opting for the Blue account package, make a minimum deposit of $250 and hence don’t how they will sort their issues only through email communication.
Kronos Invest offers its customers with various trading platforms in:
- MT4 IOS Trader
- MT4 Android Trader
- Status WebTrader
- MT4 Desktop
The company also provides investors to open a demo account and test the waters before opting to invest real money onto the platform. There is also a knowledge center containing various articles, tutorials for all levels of traders. There are no deposit or withdrawal fees for all account types.
Is Kronos Invest Legit or Scam
Kronos Invest is not a licensed broker and even though the website looks decent, we always advise our readers to stay away from unregulated brokers. No matter what kind of advantages or benefits a broker provides, the first and foremost requirement is that it needs to have a license and regulated by some authority.
Another thing that seems to be fishy is that it asks users to download AnyDesk. Any unsuspecting user who downloads the software can grant access to their system unknowingly and lose all their important data and files instantly. Traders need to be smart and never put all their eggs in a single basket. They need to diversify their investments in different portfolios so that they won’t lose their money all at once. To conclude, we would not say that Kronos Invest is a legitimate broker and better stay away from them.