Customer Reviews of Kona Company in 2023
Before deciding to collaborate with a brokerage company, it is important to check its reputation and reliability. Customer reviews, especially those who have fallen victim to fraud, are a vivid example of how blind trust in an intermediary can lead to financial losses. Today we will look at the company Kona, the reviews of which are currently ambiguous. From the detailed review, you will be able to determine whether it is worth trusting this company with your funds.
Brief Overview of Kona
On the Kona website, users are greeted with the promise “Trade and earn with a safe broker.” However, before registering on the platform, it is worth examining the key facts about the company. At the moment, the organization does not provide detailed information about its activities, does not indicate payout statistics, and the names of project leaders remain unknown.
Based on Whois data, it became known that the domain kona.team has been active since October 2022. The first reviews of the company appeared after this date. Perhaps the company was acquired by someone later, but this moment remains unclear.
The last platform update took place in September 2023. Fake positive reviews, in which traders share their experience working with the intermediary, appeared in advance. One of the signs of suspicious activity is the lack of response from customer support. Actual contact information is limited to a fake address in Cyprus and email. Real clients complain about the inability to contact customer support, which does not respond to inquiries and does not provide assistance on current issues.
Legal Basis
The company Kona has not provided legal documents confirming the legitimate provision of brokerage services. The website only states that the organization operates based on the European MiFID Directive. Considering the presence of a Cypriot address, it is assumed that the intermediary should have obtained approval from the local regulator to open an office in the country and provide brokerage services.
Information about CySec licensees is available for general review, allowing verification of this information. According to the data obtained, it became clear that the broker operates without any license. Earnings guarantees and legal protection in this case remain doubtful. Reviews from deceived traders indicate that they had to turn to specialized services for fund recovery. Regulators have proven to be ineffective in combating anonymous fraudsters.
Trading Conditions
Kona company offers to start cooperation by opening a demo account for risk-free practice. However, it should be remembered that this offer may be used to lure clients into a financial trap. Trading offer features:
- Presence of 3 tariff plans (entry threshold not specified),
- Leverage is 1:500 (contrary to European legislation),
- Choice of over 300 assets (currency pairs, stocks, indices, cryptocurrencies, commodities),
- Instant order execution (up to 40 ms),
- 24/7 customer support,
- Fast fund withdrawal (commissions and withdrawal regulations not specified),
- A little-known MT7 terminal from Mobius Soft Ltd. is used as the trading platform.
The platform of the pseudo-broker lacks options for passive income, such as PAMM, copy trading, and investment programs.
Customer Reviews
Kona company attempted to manipulate the rating, but for unclear reasons stopped filling it with positive reviews. Real customer reviews have appeared, complaining about financial and trading manipulations by the company. Users claim that the company does not allow them to earn, deceiving clients and leaving them without funds.
Fraudulent Operating Scheme
Working with Kona, scammers take advantage of the naivety of newcomers in the market. They promise miracles and suggest starting trading on a demo account. Deals on virtual funds can bring profit, but as soon as the client switches to a real account, the situation changes drastically. Attempts to withdraw funds may face technical issues, and the wallet will be emptied.
Conclusion
It is not worth trusting Kona, as the company is a fraudulent broker operating without proper legal permissions and shifting responsibility to newcomers. The company merely creates the appearance of work to attract attention and funds from users. Once the scam becomes evident, the company will disappear, leaving clients without funds. It is recommended to be cautious and avoid such fraudulent schemes by choosing reliable brokers for successful trading.
In 2023, my experience with Kona was extremely disappointing and dissatisfactory. I was left deeply mistrustful of their services due to a total lack of transparency, propagation of false claims, and downright unprofessional conduct. The broker failed to provide credible advice and frequently made erroneous errors in transactions that led to significant financial setbacks. Responses to my queries and concerns were either delayed considerably or ignored altogether. Additionally, the hidden fees were shockingly high and consistently gnawed at my investments. The Kona platform’s poor security features greatly contributed to my overall appalling experience. I discourage anyone considering this broker to tread with caution based on my regrettable experience.