Beware of Kingston Trading: Entity With Allegations of Scam and Fraud

Forex involves buying and selling currencies to make a profit, and it is known to be one of the world's most liquid financial markets. However, you need to be aware of the risks involved in currency trading. Besides excessive volatility, you are likely to come across scam entities who use a variety of tactics to deceive their customers, from promising unrealistic returns to using high-pressure sales tactics. Today, we unleash one such scammer "Kingston Trading", accused of defrauding and misleading investors causing them to lose millions of dollars.

Kingston Trading - A Quick Overview

Kingston Trading is a funds management company based in Hong Kong. The company used to be a forex broker previously. However, the firm has now transformed into a full fledge investment solution provider dealing in equities, bonds, and ETFs. The company promises high investment returns and employs aggressive sales tactics to attract clients worldwide. Notably, the broker's regulatory status seems suspicious, while it also faces allegations of operating as a fraudulent scheme.

Is Kingston Trading Regulated?

No, Kingston Trading is not a regulated company. It operates without being supervised or authorized by any reputable regulatory authority. 

Clientele Feedback:

Even though the firm claims to have been around for quite a few years, it doesn’t have many reviews on popular reviewing websites, indicating that the company is less popular among the masses. 

What Makes Kingston Trading Suspected?

Many reasons suggest the firm is engaged in fraudulent activities and operating as a potential scam.

First, the company has a poorly designed landing page with some navigation buttons on the home screen, unveiling the level of competency of the people behind it. 

The company uses high investment returns as bait to lure investors following aggressive sales tactics to pressure them into investing more significant sums of money. 

The company also allegedly provided false information about its operations and financial industry expertise, misleading investors to believe they deal with a reputable company.

The firm operates without regulations, suggesting that the company needs more transparency and accountability. 

How Do Scam Brokers Like Kingston Trading Work? 

Kingston Trading and other scam brokers lure clients into false profit-making deals and ask them to fund their accounts. They sometimes even pressurize clients to invest more to save their capital. However, after realizing that clients may not be willing to put in more money, they become less concerned and stops communicating. Customers even report that scam companies often block their accounts when requesting withdrawals. Moreover, most scammers disappear with investors’ funds, leading them to bear substantial financial losses.

Bottom Line

Kingston Trading is a scam broker with no regulatory oversight. It appears to have failed while working as an online broker in the past and now attempt to lote investors operating as a funds management company. Therefore, it is unlikely to be a safe option for investment. We suggest looking for a regulated broker instead. Although regulations don't offer full investment protection, they give you the right of legal recourse against the entity breaching the code of conduct.