Once we’ve checked Konano broker’s website, we discovered that everything is in Chinese. Probably, the broker hoped to cover up the scam it’s conducting with clients. However, we did all it takes to deliver you an accurate Konano review to show you why investing with this illegal brokerage is not an option.
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||MFSA|
|Owned by:||KONANO Wealth Ltd|
|Headquarters Country:||Malta (allegedly)|
|Types of Assets:||Currency pairs, commodities, indices|
|Free Demo Account:||No|
|Accepts US clients:||No|
Konano Regulations and Security
Konano is a brand owned by KONANO Wealth Ltd, allegedly based in Malta. The broker went so far as to publish a license number supposedly listed at the MFSA register. However, once we did research, our review showed that MFSA never regulated the Konano brand, meaning the company is most likely not even based in this country.
Of course, it all gave us reason to believe Konano broker is an unregulated offshore entity scamming clients.
Konano Warnings From the Financial Regulator
Since the broker published it’s regulated by the MFSA, we’ve checked their registration. Not just that we didn’t find Konano regulation, but we found a warning against the brokerage. According to MFSA, this particular brand has never been listed by them and has no authority to provide financial services.
Anyone scammed by Konano should report it immediately.
Fund Withdrawal Issues
Since Konano is defrauding clients to be MFSA regulated, it also conducts scams related to money. Once clients start investing, the minimum deposit required is $300. After giving away such an amount, most traders will see some profit in the first week. Why? So the broker can build trust and ask for more money.
The problem occurs when people ask for a payout. Instead of giving this profit, the broker is delaying, asking clients to keep investing, and in the end, gives them lousy advice that leads to money loss.
Beware of the Konano scam and contact us immediately if something similar has happened to you.
Since the broker pretends to be regulated, the first thing Konano reviews are mentioning is that clients have been misled to think they’re dealing with an EU brokerage. Most of these clients are from EU countries, and they believe the MFSA compensation fund protects them. Only once they cannot withdraw the money and submit their complaint to MFSA, they understand they have been dealing with a fraudster.
How Does Online Trading Scam Work?
Konano broker has an exceptional marketing team, providing tremendous trading ads. Based on these ads, clients are misled to believe they will make thousands within a week, of course, by dealing with a legit brokerage. Like any other illicit operation, this one has no intention of giving money back.
Once you invest, your broker will help you and monitor your account. He’s always available, friendly, and approachable. The problem comes when you decide to submit a withdrawal request. Your broker is suddenly unavailable, support doesn’t reply anymore, and your account is suspended.
Scammed by Konano?
Dealing with bogus brokers always carries the risk of scams. If you have a bad experience with Konano or other similar operation, contact us immediately. We will help you start a chargeback procedure.
But what is a chargeback?
Once you have been scammed online, you’re entitled to request your money back. However, for such an action, you should provide sufficient evidence. Contact us via online chat, book your free consultation and let our support department give you all the necessary information. Let’s get your money back now!
What is Konano?
Konano is an online trading brokerage providing illegal financial services.
Is Konano a scam?
KONANO Wealth Ltd has no regulations and has been blacklisted by the MFSA.
Is Konano regulated?
Konano claims to be MFSA regulated. Instead, it’s blacklisted by this authority body.