In general, legitimate crypto exchanges offer transparent founder and legal information. But that’s not the case with the freshly registered Kelenex.com crypto trading brand.

That’s just the beginning of the issues. To find out all you need to know, we advise you to read this Kelenex review carefully. Don’t say later you were not warned on time.

Legal info: Is Kelenex legit?

Overall, trading nowadays is becoming more and more regulated. Even cryptocurrency investment firms should have DASP/VASP licenses, preferably from authorities in their registered country. Since that country is unknown for Kelenex scam company, we can assume they don’t have any licenses.

Indeed, checking the best regulators in the world didn’t bring any results. Especially not the FCA, ASIC, BaFin, or CFTC databases. Not to mention, there are other similar brands with the same logo, T&Cs, and conditions. For instance, koypex.com and koygex.com.

Who are Kelenex Victims?

Kelenex crypto exchange doesn’t have any limitations except for United States residents. Thus, with all the scam signs around this firm, it’s logical why they avoid them. Mainly due to strong federal laws. That’s why countries like Germany, Austria, and Singapore are on the biggest hit.

Luckily, you have BaFin, FMA, and MAS, where you can file a complaint. But if you are looking for a way to recover your money, our team is at your disposal.

Leverage, Commissions, Spreads, Fees and Taxes

As can be seen, Kelenex exchange offers spot and leveraged trading. Be aware that the leverage provided for highly volatile cryptos makes a whole difference. In a blink of an eye, you can lose all of the funds.

Interestingly, the company has quite low fees on all levels. Starting maker and taker fees are 0.075%. The bigger the 30-day trading volume trader has, the better fees they can expect. Yet, without regulations, the company is not obligated to comply with any of them.

Bonuses

On the positive side, you will rarely see bonus offers with crypto exchanges. But if you get any, make sure to check if there are any hidden clauses. Meanwhile, we suggest you get some additional tips from our Cosetek review.

Kelenex Trading Features

The company advertises a secure platform for trading more than 200 assets. Thus, that was said for all of their 40+ trading brands. 

Yet, none of those have anything to do with cryptos. All the platforms are completely fictive. Just think about it: Is it easier to build a reputable brand from one name or dozens?

Trading Platforms Available

Another key missing detail is a trusted trading platform. Generally, top-tier licensed crypto exchanges offer external wallets and apps. But with Kelenex company, everything is web-based. 

Definitely not something you can consider safe. Especially with missing security measures like 2FA, even though the company claims your data is protected by AUSTRAC. That’s nonsense. Otherwise, they would have a license number presented.

Available Trading Assets

In general, if the company is not trusted, tradeable assets can’t be either, regardless of their potential. But it’s good to know all the options you have. A few of those 200 are:

Account Types

As can be seen from the T&Cs, there are only regular and VIP/Premium accounts available. A regular Kelenex account practically doesn’t have any benefits. However, traders are often manipulated to upgrade their accounts to VIP. Otherwise, if you have anything more than 0.3 BTC, you won’t be able to withdraw anything.

Mobile Trading App

Another disturbing fact is that the company is not offering trusted mobile apps. That’s one of the easiest ways to comfort clients about security. Of course, not even close to the hard wallet security. In any case, all the trading features can be used from a very often unavailable web-based platform.

Demo Account

Even though access to the trading room is available, virtual funds are not. Therefore, testing fees, analytical tools, and features are not possible. Thus, a demo account is irrelevant for staking crypto.

Education

Understanding cryptocurrencies is pretty much complicated. Yet, it appears that Kelenex offers outstanding services where education is not necessary. After all, they will be there for you as long as you are depositing money.

Kelenex Withdrawal

On the other hand, the moment you request a withdrawal, you can expect problems. Firstly, they will force traders to upgrade to VIP accounts. The minimum deposit requirement for it is not disclosed. Also, only VIP clients will have fast withdrawals. This tells you anybody else is not important.

In any case, withdrawal fees appear to be transparent. Thus, without adequate regulations, you can’t trust those a bit. After all, this company wouldn’t have so many brands if they were any close to legitimate.

Customer Support

One of the ways to recognize legitimate firms is by checking their support options. Many top-notch firms offer a wide range of contact options, transparent addresses, and verified social network profiles. Sadly, with the Kelenex exchange, zero contact options are available. But once you sign up, you can expect some encrypted options like Telegram.

Key Information To Consider About Kelenex?

Primarily, the company is not licensed by any authority to provide crypto trading services. On top of that, they are misleading traders about software, fees, and almost all features. Not to mention, there are multiple brands behind this group. In any case, not a single reason to trust them.

However, if you did somehow, don’t bother. Our refund team is available for consultation about refund options. Book your first free meeting today!

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