Score
KONANO
Malta|2-5 years| https://www.konano.com/en/index.htm
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Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
Contact number
(+356) 2778 1919
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Broker Information
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KONANO Wealth LTD
KONANO
Malta
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The number of the complaints received by WikiFX have reached 28 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
- The current information shows that this broker does not have a trading software. Please be aware!
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KONANO · Company Summary
Note: KONANO's official website: https://www.konano.com/ is currently inaccessible normally.
| KONANO Review Summary | |
| Founded | 2005 |
| Registered Country/Region | Malta |
| Regulation | No Regulation |
| Market Instruments | Currencies, Gold, Metals, Energies, Indices, etc. |
| Demo Account | ✔ |
| Leverage | Up to 1:50 |
| EUR/USD Spread | From 0.5 pips |
| Trading Platform | MT4 |
| Min Deposit | $300 |
| Customer Support | Phone: (+356) 2778 1919 |
| Email: services@konano.com | |
| Address: 168 St Christopher Street, Valletta VLT 1467, MALTA | |
KONANO is an unregulated financial company based in Malta. It claims to provide traders Currencies, Golds, Metals, Energies, and Indices trading via the MT4 platform. Demo accounts are available and the minimum deposit requirement to open a live account is as high as $300.
Pros and Cons
| Pros | Cons |
| Various trading instruments | Non-functional website |
| Demo accounts | No regulation |
| MT4 supported | Lack of transparency |
| High min deposit requirement |
Is KONANO Legit?
At present, KONANO lacks valid regulations. We advise you to look for regulated brokers instead.
What Can I Trade on KONANO?
KONANO claims to offer Currencies, Gold, Metals, Energies, Indices, etc.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Gold | ✔ |
| Metals | ✔ |
| Energies | ✔ |
| Indices | ✔ |
| Shares | ❌ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Account Type
There is no info on account types. As to the minimum deposit, KONANO requires $300 for account opening, which is significantly higher than what a broker nowadays would typically charge. The majority of licensed companies can open an account for as little as $10. That's why we advise you to choose regulated ones.
Leverage
The maximum leverage on KONANO is as low as 1:50. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spread
The spread according to the gathered info is 0.5 pips for the EUR/USD pair.
Trading Platform
KONANO claims to offer MT4 for trading but delivers only on a web-based MT4, which does not hold any trading servers belonging to the broker.
Deposit and Withdrawal
The payment options offered by the site include credit cards, debit cards, wire transfer, Neteller, and Skrill. As per the terms and conditions, withdrawals can only be made through wire transfer.
Nevertheless, the payment page on the website indicates that users can withdraw using the same methods employed for depositing. A 2.9% fee is levied on Skrill and Neteller withdrawals. Withdrawals are processed within 2 days.
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