Company Profile
Company Profile
Review 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.
Mada
Taiwan
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
Exposure
maymay
Taiwan
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.
Exposure
Alan Chang
Taiwan
Need to pay the dividend and margin in order to withdraw. It is unreasonable. Already report the case.
Exposure
FX2807780632
Taiwan
It just cannot withdraw and ask you to pay margin and deceive you again and again. They will also block you.
Exposure
Anber_hsieh
Taiwan
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.
Exposure
虹虹62558
Taiwan
Keep asking you to deposit after wipe out. Induce step by step and uses every possible way to reject the withdrawal.
Exposure
TH C
Taiwan
Withdrawal needs to pay 100000TWD margin? Is there such rules for forex broker?
Exposure
虹虹62558
Taiwan
Keep asking you to pay margin and expedite fee, and delaying the withdrawal. Cooperate with Cinda to scam together
Exposure
虹虹62558
Taiwan
Keep asking you to pay margin, expedite fee and delay the withdrawal. Cooperate with Cinda to scam together.
Exposure
Lily1994
Taiwan
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.
Exposure
Aaron Lian
Taiwan
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.
Exposure
Anber_hsieh
Taiwan
1. the homepage is wrong and cannot be connected 2. The email address of customer service does not have response at all.
Exposure
Anber_hsieh
Taiwan
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.
Exposure
Lily1994
Taiwan
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
Exposure
Mada
Taiwan
Cooperate with Cinda to scam money and delay withdrawals. I cannot get money back. The gold linear slippage fluctuates severely.
Exposure
潘小時
Taiwan
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?
Exposure
Lily1994
Taiwan
It is said that there is such a rule only when the money is withdrawn. They wont explain it when I ask where the rules come from. It only says that the FSC requires it. I called the FSC to ask, and they didn’t regulate about this.
Exposure
徐先生4291
Taiwan
I asked about if I need to pay the margin and tax before deposit. It was said that there is no such fees at the beginning. When I withdraw, it said that it is a new rule from the company to pay 20% of oversea profit in order to withdraw. Now, they do not answer the message at all and cannot find anyone.
Exposure
劉仁泰
Taiwan
Recommended by the Cinda Investment Advisor, I became a member of Konano. I had applied for withdrawal and it cannot withdraw till today, Dec. 30. The withdrawal never arrive. I am ready to take legal actions. Please choose forex investment company carefully for all investors to avoid that our hard-earning deposit was scammed to nothing left.
Exposure
胡松元
Taiwan
Unable to withdraw. Cannot contact the agent or relevant staff of withdrawal and deposit to address it. Contact this platform.
Exposure
潘小時
Taiwan
I have withdrawn money for a long time, why don’t withdraw the money. why don’t withdraw the money if I still have money within it?
Exposure
Anber_hsieh
Taiwan
Currently, many information cannot match. The customer service mail and is completely different from the information. Konano.com cannot be connected. https://www.konanos.com.tw/tw/index.html is an incomplete webpage. After registration, you can deposit money, but you can’t withdraw. Slippage is severe and easy to liquidate.
Exposure
FX1378541334
Taiwan
Konano: After receiving the notice from Financial Supervision Commission, in response to the Financial Supervision Commission’s anti-money laundering law and strictly combating money laundering crimes, we are required to charge a 20% margin on all your withdrawals. I called the Financial Supervision Commission to inquire. They said that they were not in charge of the financial institutions on the internet platform. Financial Supervision Commission: 0289680899. I called phone number of the broker on internet: the voice is NSFX company
Exposure