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Score
Malta
2-5 yearsSuspicious Regulatory License
High potential risk
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Comparison
Quantity 33
Exposure
Score
Regulatory Index0.00
Business Index6.34
Risk Management Index0.00
Software Index4.00
License Index0.00
No valid regulatory information, please be aware of the risk
Single Core
1G
40G
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Company Name
KONANO Wealth LTD
Company Abbreviation
KONANO
Platform registered country and region
Malta
Company website
Company summary
Pyramid scheme complaint
Expose
Withdrawal needs to pay 100000TWD margin? Is there such rules for forex broker?
Keep asking you to pay margin and expedite fee, and delaying the withdrawal. Cooperate with Cinda to scam together
I applied for a withdrawal on Jan. 5, 2022, but it had not withdrawn successfully till Jan.11. It is suspected to be a scam. Please assist me to address it.
They don’t withdraw the money and keep asking me to deposit, saying that they are going to withdraw money from the meeting on December 31st, but still not be able to withdraw money until January 3, and I’m also asked to pay a margin. What kind of margin I have money to pay when I have money in my account?
Need to pay the dividend and margin in order to withdraw. It is unreasonable. Already report the case.
Keep asking you to deposit after wipe out. Induce step by step and uses every possible way to reject the withdrawal.
I made lots of profit in my account, but cannot withdraw it. The customer service emial is the QQ account and does not match with reality. Also, nobody reply the email after sending it.
It said that the withdrawal requires 3 working day at the beginning. In November, the reasons for delay are: can only make one withdrawal at once/do not fill the account and ask people to re-apply. At the end of December, it said that it requires 20% margins deposit before withdrawal for anti-laundering money. On January of this year, it changes to say that it requires to pay income tax for 20%. They just keep delay the withdrawals and ask people to deposit. It is totally a scam.
It just cannot withdraw and ask you to pay margin and deceive you again and again. They will also block you.
1. the homepage is wrong and cannot be connected 2. The email address of customer service does not have response at all.
Cinda Investment Consultants and konano cheated together and could not withdraw the money. They required to deposit a margin to withdraw the money, but the website disappeared after the payment.
Since the beginning of December, I have applied for multiple withdrawals. The customer service said that it will arrived within 3 days, but it has not been received. One said that I cannot apply at the same time, and the other said that the account number was not filled in. Each re-application is three days. On Dec. 23, they changed to say that they have received the notice from the Financial Management Committee, in order to respond to the financial institution’s anti-money laundering law and strictly crack down on money laundering crimes, we require to charge 20% of the deposit for all your withdrawals. Please help, Thanks
Keep asking you to pay margin, expedite fee and delay the withdrawal. Cooperate with Cinda to scam together.
Cooperate with Cinda to scam money and delay withdrawals. I cannot get money back. The gold linear slippage fluctuates severely.
At present, the information on the app of the broker can no longer be contacted. The relevant webpage can not be used. The broker selected on the MT4 seems to match the APP, but there is currently no deposit and withdrawal methods.
Starting from October 2021, I cooperate with CINDA Investment Trust (currently renamed Renxiang Investment Trust) (continue to defraud), induce deposits to MT4 to KONARO to buy gold, induce liquidation and continue to induce deposits. The slippage is severe, and finally my account funds reach: 1,964,253 US dollars, and the continuous application for withdrawal were delayed and failed. They are willing to withdraw money only if we pay the margin. The principal deposit is: $17622. Hope to get back the principal of the deposit. Please coordinate, thank you very much. PS: Attach a screenshot of the dealer's deposit and withdrawal (the withdrawal was unsuccessful) PS: Attach a screenshot of the dealer's dialogue PS: Jiaoyishang has maliciously removed the account
Note: KONANO official site - https://www.konano.com/en/index.htm is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
KONANO Review Summary in 10 Points | |
Founded | 2-5 years |
Registered Country/Region | Malta |
Regulation | NFA unauthorized |
Market Instruments | Currencies, Golds, Metals, Energies, Indices etc. |
Demo Account | Not disclosed |
Leverage | Up to 1:50 |
EUR/USD Spread | From 0.5 pips |
Trading Platforms | MT4 |
Minimum Deposit | $300 |
Customer Support | Phone, Address, Email |
KONANO, an international brokerage headquartered in Malta, provides a diverse range of financial instruments, encompassing Currencies, Golds, Metals, Energies, Indices and so on. However, the broker is currently under NFA unauthorized regulatory condition which raises concerns about its credibility and legitimacy. Furthermore, the dysfunctional website at the same time significantly increases related investment risks within the platform.
In our upcoming article, we will present a comprehensive and well-structured evaluation of the broker's services and offerings. Interested readers are encouraged to delve further into the article for valuable insights. In the end of the article, we will come up with a concise summary that highlights the distinct characteristics of the broker for a clear understanding.
Pros | Cons |
• Multiple instruments | • NFA unauthorized |
• Website unavailable | |
• Lack of transparency | |
• Negative feedbacks from their clients | |
• Non- downloadable trading platform |
Konano provides traders with access to a wide variety of financial instruments, such as currencies, golds, metals, energies, and indices, enabling diverse investment opportunities.
Nevertheless, the broker's unauthorized status with the NFA, unavailability of its website, lack of transparency, negative client feedback, and the absence of a downloadable trading platform present considerable drawbacks, highlighting potential risks associated with trading with this broker.
When considering the safety of a brokerage like KONANO or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
Regulatory sight: KONANO operates without valid regulation, the claimed licenses by the broker from NFA (National Futures Association) numbering 0538883 is unauthorized. Furthermore, the inaccessible website further heighten the suspects of ceased operation of the broker.
User feedback: The existence of 33 reports on WikiFX highlighting scams, fraud, dissemination of false information, and difficulties with withdrawals should be treated as a significant red flag.
Security measures: So far we cannot find any security measures info on Internet for this broker.
In the end, choosing whether or not to engage in trading with KONANO is an individual decision. It is advised that you carefully balance the risks and returns before engaging in any actual trading activities.
KONANO offers a diverse array of financial instruments, catering to a wide range of trading preferences.
The platform enables trading in traditional currencies, empowering users to engage in the ever-evolving foreign exchange market.
Additionally, the inclusion of gold and other precious metals provides opportunities for traders to explore the dynamics of the commodity market, potentially hedging against currency fluctuations and inflation.
The availability of energy products further enhances the diversity of trading options, enabling users to participate in the dynamic energy sector.
Finally, the inclusion of various indices allows traders to capitalize on the overall performance of specific market segments, providing them with a broader perspective and investment opportunities.
Unfortunately, detailed information about the specific account types offered by KONANO is currently not available. However, it is worth noting that the minimum deposit required to open an account with this broker is $300.
While the absence of comprehensive account details may be a cause for concern, prospective traders should ensure they contact with the broker to get the most up-to-date information and conduct thorough research before committing to any financial investment with the platform.
KONANO offers leverages of up to 1:50, allowing traders to amplify their positions significantly. However, it is crucial to exercise caution and fully understand the associated risks, as higher leverage can lead to substantial gains but also significant losses. Traders should ensure they have a solid grasp of risk management strategies before utilizing leverage options.
According to the information displayed on its home page, KONANO advertises an impressively low spread of 0.5 pips for the popular EUR/USD currency pair. However, specific details about commissions are not readily available on the website. Interested parties are advised to directly contact the broker to acquire precise commission-related information and gain a comprehensive understanding of the cost structure associated with trading on the platform.
Although Konano claims to offer access to the widely recognized and trusted Metatrader 4 platform, the absence of a download link on its website raises concerns about the platform's transparency and authenticity. As the Metatrader 4 platform is a popular choice among traders for its advanced features and user-friendly interface, the unavailability of the download link may hinder potential users from accessing this sought-after tool. Prospective clients are advised to exercise caution and seek further clarification from the broker to ensure the legitimacy of the platform and its offered services.
Konano facilitates deposits through Skrill and credit cards, providing users with multiple convenient options for funding their trading accounts.
However, Skrill and Neteller withdrawals are subjected to a 2.9% fee, and the processing time for withdrawals typically takes up to 2 days. Traders are advised to thoroughly review the terms and conditions related to the payment methods to ensure a clear understanding of any associated fees or restrictions before proceeding with transactions.
The existence of 33 reports on WikiFX highlighting issues such as scams, fraud, false information, and withdrawal difficulties should be regarded as a critical warning sign. Traders are strongly encouraged to conduct thorough investigations and carefully analyze all available information before engaging in any actual trading activities.
Our platform remains dedicated to providing comprehensive assistance to traders in making well-informed decisions. If you have been a victim of financial fraud or have faced similar issues, we encourage you to share your experiences in our 'Exposure' section. Your input is highly valuable, and we are committed to addressing such challenges and continuously striving to provide effective solutions for such complex situations.
KONANO provides customer support through phone, email, and physical address, ensuring various communication channels for traders to address their concerns or inquiries, in some extent facilitated accessible and responsive interaction between the platform and its users.
Phone: (+356) 2778 1919.
Email: services@konano.com
Address: 168 St Christopher Street, Valletta VLT 1467, MALTA.
In summary, while KONANO presents itself as a globally accessible online brokerage operating from the Malta, its unauthorized regulatory status with the NFA raises significant concerns. These concerns cast doubt on the broker's commitment to regulatory compliance and client security. Additionally, ongoing issues with the accessibility of their website and negative reports on WikiFX raise serious doubts about their professionalism and dependability.
Given these considerations, individuals are encouraged to explore alternative brokers that prioritize transparency, regulatory adherence, and professionalism.
Q 1: | Is KONANO regulated? |
A 1: | No. The broker is currently under NFA unauthorized regulatory condition. |
Q 2: | Is KONANO a good broker for beginners? |
A 2: | No. It is not a good choice for beginners. Not only because of its suspected fake clone regulatory condition, but also because of its unavailable website and negative feedbacks from their clients. |
Q 3: | Does KONANO offer the industry leading MT4 & MT5? |
A3: | No, the broker claimed to offer MT4 but no download link in their website. |
Q 4: | Does KONANO offers demo account? |
A 4: | No. |
Q 5: | Whats the minimum deposit does KONANO require? |
A 5: | KONANO requested minimum deposit of $300. |
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
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