KONANO Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-14 10:59

Abstract：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.

　　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.