Do you find this crypto exchange a bit dubious and strange? We sure did, which is why we decided to investigate it and present our findings in our Komslex.com Review.
Be sure to read our analysis in order to learn why the platform is not reliable at all and why you should do your best to avoid it. Also, we shall show you the steps to identifying online trading scams.
| Regulated by: | Unregulated Crypto Exchange |
| Is This Company Safe? | No |
| Known Websites: | komslex.com |
| Have Warnings from: | N/A |
| Registered in: | Australia (allegedly) |
| Operating since: | 2023-09-12 |
| Trading Platforms: | Web |
| Maximum Leverage: | N/A |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies |
| Free Demo Account: | Unavailable |
| How to Withdraw from This Company? | Since this company is unlikely to return your money – contact your bank, Financial Regulator, or simply Reach out to us for professional assistance in recovering your funds. |
Legal Info: Is Komslex.com Regulated?
Komslex.com claims to be headquartered in Australia, which is a lie. The exchange doesn’t exist anywhere except on its own website, implying that it is not registered with the Australian Securities and Investment Commission (ASIC) and thus unlicensed.
Reading the legal documentation on the website, we concluded that the entire text is misleading with no concrete and relevant information. Such shenanigans are typical of fraudulent providers such as SPmarket24.
Trading on an unregulated crypto exchange is extremely risky. Recovering funds from such schemes can be a terrible nightmare, which is why you avoid Komslex.com and instead find a legitimate platform.
Why Financial Market Regulations Matter
We recommend you trade firms that are licensed to operate under the jurisdiction of top-tier financial market authorities such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), CySEC (Cyprus), etc.
European regulators, for instance, require firms engaged in financial market trading to compensate their clients in case of insolvency or suspicious losses. Traders can receive up to 20,000 EUR from these compensation schemes.
Who Are Komslex.com’s Targets?
According to godaddy.com/whois, the komslex.com website domain was created on September 12, 2023. Since then, the illicit exchange has been targeting mainly unwary traders who reside in the following countries:
- Netherlands;
- Italy;
- France;
- Germany;
- Romania.
All of these states are EU members and thus enforce common financial market regulations of the European Securities and Markets Authority (ESMA). One of the rules says that a provider must be licensed to provide services in the European Economic Area.
Needless to say, Komslex.com has no authorization to offer services in these domains. The regulations in force in these countries do not permit it. Should you choose to invest money in this platform, you cannot count on regulatory help or compensation.
There are no trader reviews so it comes as no surprise that webparanoid.com has given Komslex.com a pretty low trust score, adding that the firm’s website has poor traffic.
Which Trading Platform Is Available?
The only available trading platform is web-based, featuring all the popular cryptocurrencies that can be traded against US Tether, Bitcoin, or Ethereum. Also, the exchange promises spot trading but the website prevented us from accessing that page unless we open a live account.
Trading volatile assets such as cryptocurrencies is extremely risky per se, which is why you should not trust an unregulated exchange that lacks credentials.
Novices may find the online trading terminal easy to comprehend but seasoned traders won’t benefit from simple charts and graphs. Komslex.com, just like the shady ProfiStocks broker, does not support proper third-party software such as MT4 or MT5.
Fee Structure
The outlined fee structure is based on the trader’s 30-day trade volume, with both maker and taker fees decreasing as trading volume increases.
Additionally, the website promises cashback incentives, with cashback percentages also varying depending on the trading volume level. This fee structure has been designed to reward higher-volume traders with lower fees but we wouldn’t trust it given the exchange’s dubious legal status.
The deposit fee for Bitcoin is 0.00007 BTC (or the equivalent value of any other cryptocurrency), which is around 1.87 USD, while the withdrawal fee is
0.00019 BTC (around 5 USD).
Referral Program
Komslex.com outlined a referral program that offers traders enticing rewards and commissions for each new member they bring in.
According to the website, a trader can receive 40% of the amount of fees paid by the referred person. Additionally, his own trade commission on the exchange will be 0.1%. The whole scheme is presented as a way for the exchange to incentivize users to bring new members to their platform and as a source of passive income.
However, this is nothing but a Ponzi scheme, an investment fraud system that pays existing investors with funds collected from new investors. Do not drag your friends and family into this scam.
Deposit and Withdrawal Process
The cyber con artist says that crypto can be bought on this exchange using credit/debit cards and bank transfers. So, is there any possible solution to getting the deposited funds back from Komslex.com?
Yes. Since the exchange is unlikely to allow you to withdraw any funds, you must request a chargeback in case you deposited via MasterCard and VISA credit/debit cards or a recall if you paid through a wire.
You can do so at your issuing bank within 540 days but it is best you seek out professional help. Luckily for you, we specialize in various fund recovery methods so please don’t hesitate to book a consultation with us.
Key Information To Consider About Komslex.com
To sum up our review, Komslex.com is an unregulated crypto exchange that has been active since last month, mainly targeting unsuspecting traders from the Netherlands, Italy, France, Germany, and Romania.
This bogus website has attempted to provide crypto trading services despite lacking the necessary regulatory license but low trust scores, no trader reviews, and the lack of popular trading software further helped us expose the scheme.
Komslex.com is nothing but a hoax designed to steal people’s money. We urge traders to report it to the authorities, i.e. ASIC. It is important to warn fellow traders about it as well.
If you have lost money to the Komslex.com scam and cannot retrieve it on your own, we offer our professional services and assistance. Book your free consultation with Scam Brokers Reviews today!
Book a free consultation with us and start the chargeback process.
FAQ Section
What Is Komslex.com?
Komslex.com is a crypto exchange scam designed to defraud traders and steal their money.
Is Komslex.com A Scam?
Without a doubt. Komslex.com is an unregulated platform that shamelessly claims to operate under ASIC.
How to Make a Withdrawal on the Komslex.com Exchange?
This exchange won’t allow you to withdraw funds. In that case, you should book a consultation with us.
