KorbittFx is a platform offering forex, cryptocurrency, and binary options trading. According to its official website, it claims to be a privately held global company headquartered in the United States and a subsidiary of KorbittFx Plc.
However, after investigation, it turns out the platform does not actually have a legitimate corporate entity. Additionally, the domain korbittfx.com was registered on 2023-05-19, indicating a short history for the website.
Company Background
Public records on the website show the company was founded in 2012 and claims to help investors enter the market and achieve financial freedom. The platform asserts that its parent company has a history spanning over a century and claims to be one of the largest companies in the world. However, upon reviewing public records, no information regarding "KorbittFx Plc" could be found, contradicting its marketing claims.
Moreover, the official site outlines its evolution, including sponsoring innovation projects since 2013, shifting fund management strategies in 2014, and undergoing infrastructure reforms in 2015 while leveraging social media for business expansion in recent years. However, KorbittFx has no official accounts on mainstream social media such as LinkedIn, Facebook, Instagram, Twitter, and YouTube, which contradicts its marketing narrative.
Core Business
KorbittFx's website presents the following core business areas:
- Fund Management: Managing investor funds, offering both short-term and long-term investment projects.
- Investment Services: Providing various investment plans, emphasizing fund security and high returns.
- International Business Expansion: Claims to operate in multiple countries and states that it has joined the U.S. Investors Compensation Fund (ICF) and holds contracting qualifications in Europe.
Regulatory Information
The platform claims on its website that it is certified by the U.S. government and fully registered and regulated in the U.S. Additionally, it states it has authorization from the UK Financial Conduct Authority (FCA). However, a check on the official FCA and U.S. Securities and Exchange Commission (SEC) websites reveals no regulatory records for KorbittFx.
Additionally, the platform displays a blurry image of a UK company registration certificate, which cannot be verified, and the displayed registration information is pasted on the site, differing from genuine company records. The company registration number shown, 07309208, actually corresponds to ETRADE SOLUTIONS LTD, not KorbittFx.
Investment Plans
KorbittFx offers five categories of investment plans, namely Pricing, Weekly Pricing, Monthly Pricing, NFP, Bitcoin Crypto Plans, each with multiple specific options.
Pricing
- Starter Plan ($1,000+): 30%-40% ROI, 10% trading commission
- Master Plus Plan ($5,000+): 40%-50% ROI, 10% trading commission
- Premium Plan ($20,000+): 50%-60% ROI, 10% trading commission
- Ultimate Plan ($50,000+): 60%-70% ROI, 10% trading commission
- Corporate Plan ($100,000+): 70%-80% ROI, 10% trading commission
Weekly Pricing
- Starter Plan ($3,000+): 20%-25% ROI, 5% trading commission
- Master Plus Plan ($5,000+): 25%-30% ROI, 5% trading commission
- Premium Plan ($10,000+): 30%-35% ROI, 50% trading commission
- Ultimate Plan ($20,000+): 35%-40% ROI, 10% trading commission
Monthly Pricing
- Starter Plan ($1,000+): 30%-40% ROI, 10% trading commission
- Master Plus Plan ($10,000+): 40%-50% ROI, 10% trading commission
- Premium Plan ($20,000+): 50%-60% ROI, 10% trading commission
- Ultimate Plan ($50,000+): 60%-70% ROI, 10% trading commission
- Corporate Plan ($100,000+): 70%-80% ROI, 10% trading commission
NFP
- Starter Plan ($10,000+): 105%-124% ROI, 5% trading commission
- Premium Plan ($50,000+): 30%-35% ROI, 50% trading commission
- Ultimate Plan ($100,000+): 150% ROI, 10% trading commission
Bitcoin Crypto Plans
- Basic Crypto (BTC 1 - 1.5): 65%-70% ROI, 10% trading commission
- Standard Crypto (BTC 5 - 14.9): 70%-75% ROI, 10% trading commission
- Premium Crypto (BTC 15 - 29.9): 80%-85% ROI, 10% trading commission
- Pro Crypto (BTC 30+): 90%-95% ROI, 10% trading commission
Deposit and Withdrawal Methods
KorbittFx supports deposit methods including bank transfer, PayPal, Neteller, Skrill, MoneyGram, MasterCard, Bitcoin, Western Union, and PerfectMoney.
Withdrawal Methods:
- Submit a withdrawal request through an account or by contacting an account manager
- Provide relevant documents for review
- Financial department processes the withdrawal to complete the transfer
Withdrawal Conditions:
- Paid monthly, funds are transferred at the end of each month
- Minimum withdrawal amount is $70
Company Address and Personnel Information
The website lists the following company addresses:
- 1000 Main St 12th floor, Houston, TX 77002, USA
- Gangnam-gu, Seoul, South Korea
However, the authenticity of these addresses could not be verified through public channels. Additionally, the platform does not provide any information about its executives or staff, and no related personnel data can be found on public networks.
Website Traffic and Template
According to Semrush data, korbittfx.com receives less than 100 average monthly visits, indicating almost no user traffic. Additionally, the site uses the same website template as several known fraudulent financial websites such as Invest Furnace, CapitalOptionTrad, and Top Mark Pro, showing high similarity.
User Reviews and Social Media Presence
There are virtually no user reviews for KorbittFx available on public networks, nor are there any news reports. The website provides contact details including phone (+1(347) 9708-530), Telegram, and email ([email protected]), but no official accounts were established on major social media platforms.
Risk Report
- High Fixed Returns: All investment plans promise returns of 100% or more, inconsistent with market realities, characteristic of a Ponzi scheme.
- Lack of Transparency in Fund Sources: Fails to provide a clear investment strategy, making it impossible to verify its profit model.
- False Regulatory Information: Claims of FCA and SEC regulation are unverified upon actual inquiry.
- Uncertain Refund Guarantee: The MoneyBack Guarantee lacks concrete protection measures, making it untrustworthy.
- Lack of Social Media Presence: No official accounts on major social platforms, making authenticity verification difficult.
- Opaque Withdrawal Mechanism: Does not provide specifics on withdrawal timing and fees, which may result in inability to retrieve funds.
- Low Website Traffic: Extremely low traffic, inconsistent with that of a legitimate investment platform.
- Template-Based Website: Site design is identical to numerous known fraudulent financial platforms, increasing risk.
Overall, there are numerous red flags with KorbittFx, and investors should exercise caution and thoroughly evaluate before engaging to avoid potential financial loss.
