KONANO

Note: KONANO's official website: https://www.konano.com/ is currently inaccessible normally.

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

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.

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.