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KonohaFX

Cyprus|2-5 years|
Suspicious Scope of Business|High potential risk|

https://konohafx.io/

Website

Rating Index

Contact

+61 862459638
support@konohafx.io
https://konohafx.io/
36 Aigyptou Avenue, 6030 Larnaca, Cyprus

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Danger

UK FCA
2024-04-30
KonohaFX
KonohaFX

Contact number

English

+61 862459638

English

+44 2039897211

Other ways of contact

Broker Information

More

Company Name

KonohaFX

Abbreviation

KonohaFX

Platform registered country and region

Cyprus

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away!
Previous Detection : 2024-11-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

KonohaFX · WikiFX Survey

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KonohaFX · Company Summary

Based in Cyprus, KonohaFX is an unregulated forex broker who supports over 200 trading instruments on their web-based trading platform. It offers six kinds of accounts with the minimum deposit of $250 and the maximum leverage up to 600x.

KonohaFX's homepage

Pros and Cons

Pros Cons
Multiple account typesNo regulation
Over 200 trading assetsRegional restrictions
Many methods to deposit and withdrawalNo demo accounts
1% fees of refund charged
No MT4 or MT5

Is KonohaFX Legit?

Konohafx.io is registered with TLD Registrar Solutions Ltd. It was initially registered on October 22, 2022, and is set to expire on October 22, 2025. Nevertheless, KonohaFX is not regulated by any institution.

Domain information

What Can I Trade on KonohaFX?

KonohaFX offers over 200 assets including forex, stocks, commodities, indices and cryptos to trade. Whats more, in KonohaFX, CFDs are available for Bitcoin, Ethereum, Litecoin, and many other cryptocurrencies. Trading global Indices with KonohaFX allows you to go on price movements in major Indices from the UK, US, Asia, Australia and Europe.

Tradable Instruments Supported
Forex
Commodities
Indices
Cryptocurrencies
Stocks
ETFs
Bonds
Mutual Funds
What Can I Trade on KonohaFX?

Account Type

KonohaFX offers six kinds of live accounts including Basic, Bronze, Silver, Gold, VIP and Platinum accounts. These accounts require the minimum deposits of €250, €10,000, €25,000, €100,000 and €250,000 respectively. Different accounts owns different services and tools including market review, bonus funds, reading signals and so on. Notably, different accounts offer varying maximum leverage. The Basic account provides up to 100x leverage, the Bronze account up to 200x, the Silver account up to 300x, the Gold account up to 400x, the VIP account up to 500x, and the Platinum account up to 600x.

Account comparison

KonohaFX Fees

Margins:

When trading CFDs with KonohaFX, you do so with leverage, which allows you to potentially win or lose a significant amount more than your initial deposit.

Spreads:

The primary cost of trading CFDs on forex is the spread – the difference between the buy and sell prices, which is our charge for executing your trade.

Currency PairRetail MarginLeverage EquivalentMinimum SpreadAverage Spread2Average Spread3DMA Average Spread4
EUR/USD0.5%1:2000.71.510.860.295
GBP/USD0.51.260.960.242
AUD/USD0.61.331.070.54
EUR/JPY1.52.261.960.399
USD/CHF0.92.381.960.677

Refund:

The Company also deducts a refund fee of 1% with a minimum refund fee of 30 USD/GBP/EUR and a maximum refund fee of 300 USD/GBP/EUR.

KonohaFX Fees

Trading Platform

KonohaFX offers Web Trader 2.0 platform to trade stocks, forex, cryptos and more from a single account. It also supports many tools and services to facilitate their trade. Web Trader 2.0 platform is a web-based trading platform. You can log in to your account and trade on any device that has an internet connection.

Web Trader 2.0 platform

Deposit and Withdrawal

Deposits:

KonohaFX offers Credit Card, Wire Transfer, and various forms of e-payment to deposit. Deposits can be made using any of these methods.

Deposit and Withdrawal

Withdrawals:

Withdrawals can be processed through Credit Card or Bitcoin Transfers. The minimum withdrawal amount is $100. Withdrawals (or refunds) are processed using the same method as the original deposit. For example, if you deposited funds using a credit card, the withdrawal or refund will be transferred back to the same credit card. Credit card transfers apply exclusively to your deposit balance and exclude any profits or bonuses. If multiple credit cards contributed to the same deposit balance, each credit card is entitled only to the amount it originally contributed. The minimum withdrawal amount for Bitcoin is the equivalent of $250.

To expedite the withdrawal process, you are required to provide Verifying Documents. Once your identity is satisfactorily verified, we will commence the withdrawal process, which typically takes 7-10 working days.

Withdrawal Options Min. Withdrawal Fees Processing Time
Credit Card$1001%7-10 working days
Bitcoin Transfers$250

Customer Service

KonohaFX supports phone (Monday to Friday 09:00 – 13:00 GMT), email, live chat (Monday to Friday 07:00-14:00 GMT) and online messaging for their traders to contact.

Contact Options Details
Phone Australia: +61862459638 / United Kingdom: +442039897211
Email support@konohafx.io
Online Messaging
Online Chat
Social Media
Supported Language English
Website Language English
Physical Address 36 Aigyptou Avenue,6030 Larnaca,Cyprus
Contact info

The Bottom Line

In conclusion, KonohaFX offers many assets to trade via their Web Trader 2.0 platform with different accounts. However, it is not regulated well and residents in some countries are prohibited from trading on the platform. Consequently, KonohaFX is better suited for experienced investors who are familiar with the complexities with trading.

FAQs

Is KonohaFX a good for beginners?

No. It does not support demo account and the minimum deposit of $250 is rather high for novices.

At KonohaFX, are there any regional restrictions for traders?

Yes. It does not provides services for the residents of United States, Cuba, Democratic Peoples Republic of Korea (North Korea), Iran and Syria.

What currency can traders use for trading?

You can open an account in USD, EUR, or GBP.

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