KrakenStocks is an investment company with registered address at Cedar Top Rectory Road, Hampton Bishop, Hereford, Herefordshire, HR1 4JU. On their well crafted sales pitch, KrakenStocks is described as a great cryptocurrency and stock investment company that offers great investment services. The company alleges claim that even investors with no experience will also gain.
Thanks to this review you will understand that KrakenStocks is a scam that you have to avoid in order not to lose money.
To persuade clients to invest, KrakenStocks tells them that the company is a legitimate business operating since 2014, restyled 2017. The push further by telling us that, it provides its trusted fund management services globally under SIC licence 08886815.
KrakenStocks is definitely trying their best to get attention of financially naive and inexperienced investors. A careful look into this website tells you that this material is fluff.
They are offering investments in cryptocurrency and stocks across 4 account types designated by the ROI.
In case you are not aware, KrakenStocks is operating more or less like Merlin Invest Ltd scam we reviewed just recently.
Is KrakenStocks Legit?
KrakenStocks is not a regulated entity. A UK company registration number does not offer this KrakenStocks Ltd authorization to offer financial services in UK or in any country with financial supervision. The UK financial system is overseen by the Financial Conduct Authority (FCA), that regulates companies that provide some sort of financial service to UK residents.
However, KrakenStocks is not one of the regulated financial firms here.
It has no authorization to provide investment services whatsoever, therefore it is acting illegally by doing what it is doing. There is no country in the world that KrakenStocks can offer its investment services without breaking the laws.
Minimum deposit – $50
Maximum ROI – 10%
Payment method – BTC/ETH/LTC/BCH/DOGE
Referral commission – Up to 10%
Regulation – None
In as much as they claim to be a transparent investing site, the truth is that nothing is transparent here. KrakenStocks is a Ponzi scheme that will sell you a high yield investment opportunity that requires some minimum deposit.
If you fall for their lies, you will wire them the specific sum of money that they are requesting. Scammers uses newer deposits to pay out older profits. But with the unsustainable ROI it has failed and it is not paying anything.
So, if you deposit money with KrakenStocks, not only you won’t earn any profits, you will also lose your deposit.
Nothing good will come from a scam like KrakenStocks. The fact that they are not regulated nor registered as an investment company should speak volumes.
The website is also being run anonymously. You can’t trust websites that are run by faceless people requesting you to send thousands of dollars in investment money.
In short, avoid this fraud and you’ll be okay.