Kowela, like many other brokers, claims to have been created by investors for investors. Oh, how many times have we heard this expression! More often than not, it comes from scammers. To truly understand who stands behind this project, join us as we delve into our review.
- Kowela General Information
- Registration and Client Portal Review
- Kowela Trading Conditions
- Account Types Review
- Trading Platform
- Kowela — Deposit and Withdrawal of Funds
- Additional Options
- Is Kowela a Scam?
- Legal Information and License
- Kowela.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Kowela General Information
|Address||The Gateway Tower 5, Harbour City, 15 Canton Road, Kowloon, Hong Kong|
Registration and Client Portal Review
The official website of Kowela truly gave us a good laugh. Who is that little character in the top left corner? We’re genuinely curious if everything’s alright with him. The whole scene unfolding there is quite amusing, to say the least. However, enough of that diversion. In general, a website is just a website. There’s nothing particularly remarkable or unique about it. As usual, it’s filled with self-promotion and nothing more.
Kowela’s registration process entails a rather extensive questionnaire that users are required to fill out. Beyond the standard personal information and contact details, this form delves into inquiries about your place of residence, full address, and even your date of birth. While there’s no inherent cause for alarm with such comprehensive data collection, prospective clients should be aware that completing this form might take a bit of time due to its thoroughness.
It’s essential to brace yourself for the possibility that immediate access to your personal account might not be granted. For instance, in our case, our application was initially rejected, and we were directed to get in touch with a manager to move forward. This could be seen as a potential drawback as it could prolong the account activation process and necessitate additional steps to resolve the issue.
Kowela Trading Conditions
Kowela employs a tiered account system, which may appear enticing at first glance, but comes with its fair share of drawbacks, particularly for those with limited financial means. Each successive account tier demands a larger minimum deposit, supposedly offering enhanced features and benefits in return.
Account Types Review
Now, let’s take a look at these seven tiers, their escalating minimum deposit requirements, and the so-called added features:
- With a minimum deposit requirement of $5,000, the Junior Account supposedly grants access to the Indices and Energies markets. It claims to offer comprehensive tools for daily trading, including access to weekly signals.
- Requiring a minimum deposit of $25,000, the Advanced Account allegedly opens doors to advanced markets like Stocks and Energies. It promises access to fundamental trading materials and hints at access to multi-asset trading options.
- For those willing to deposit a minimum of $50,000, the Investor Account purportedly offers advanced markets, including Stocks and Currencies. It is said to provide daily technical and primary materials, along with signals featuring comprehensive analysis.
- With a minimum deposit of $100,000, the Trader Account claims to provide a tailored trading portfolio. It provides access to advanced global market instruments, daily technical and primary materials, and live signals with analysis.
- Requiring a minimum deposit of $250,000, the Trader Pro Account implies the availability of Islamic Accounts and thousands of market products. It promises access to daily technical and primary trading materials, along with low and allotted market pricing.
- For clients who can meet the $1,000,000 minimum deposit, the VIP Account is said to offer customized investing materials, all-inclusive daily trading tools, daily comprehensive analysis, sophisticated investment resources, and advanced execution orders.
- The VIP PRO Account, with a minimum deposit requirement of $10,000,000, offers exclusive invitations to market events, personalized market offers, customized investing materials, sophisticated investment resources, and advanced execution orders.
While these tiers may sound appealing, the catch lies in the hefty minimum deposits required. For many, these sums can seem exorbitant, making it difficult to access the touted benefits. This approach, while seemingly offering more, effectively, limits access to those with deep pockets, leaving others on the outside looking in.
Kowela offers both the MT4 and MT5 trading platforms. However, it’s worth noting that accessing or familiarizing oneself with these platforms requires users to navigate through the broker’s personal account interface. This approach is somewhat unusual, as trading terminals from this developer are typically readily available on the official website without the need for such additional steps.
Kowela — Deposit and Withdrawal of Funds
Kowela provides several options for funding your trading account. You can choose to deposit funds using Visa or MasterCard, opt for bank transfers, or even use cryptocurrencies as a payment method. This variety of funding options allows for flexibility in managing your account and provides choices that align with your preferences and needs.
Kowela mandates users to undergo a verification process, even though we were not granted access to the personal account to experience it firsthand. This verification process typically involves providing personal identification documents and proof of address, which the broker reviews to confirm the user’s identity and compliance with regulatory requirements. By completing this verification, users aim to gain access to additional features, and ensure a smoother trading experience within the broker’s ecosystem.
Apart from its primary services, Kowela extends its offerings to include a range of trading signals and tools intended to assist its clients in navigating the intricate world of financial markets. These supplementary resources can be enticing, especially for novice traders seeking guidance and assistance in their trading endeavors.
However, it’s crucial to exercise a healthy degree of caution when considering the use of these tools. While trading signals and similar aids can undoubtedly offer valuable insights, they come with inherent risks. You have to bear in mind that these signals may not always be entirely transparent or accurate.
Is Kowela a Scam?
It’s time to delve into what might be the most crucial aspect of our investigation – assessing the legitimacy of Kowela.
Legal Information and License
The company in question, Kowela LTD, claims to be registered in Hong Kong. However, our independent verification process has revealed a starkly different reality. In fact, all indications point to this claim as being nothing more than a fabrication.
Adding to the mounting concerns, the Hong Kong regulatory authority has issued a stern warning regarding this broker. According to their official statement, Kowela is not under their regulatory purview, and they strongly advise against any association with this entity due to its deceptive practices. This revelation casts a shadow of doubt over the credibility and trustworthiness of Kowela as a financial service provider.
Kowela.com Domain Info
The broker has not been in operation for an extended period. It was launched in 2021, indicating a relatively short track record in the financial industry. Such a brief period of operation raises concerns for several reasons.
Firstly, the limited history makes it challenging to assess a broker’s long-term performance and reliability. Clients prefer to entrust their funds to brokers with a proven and established track record of delivering quality services over time.
Kowela provides various means of contact, including a telephone number, email address, and live chat support. However, it’s important to note that the absence of a physical office raises concerns about the broker’s legitimacy, as our investigation has revealed it to be a fictitious entity.
Pros and Cons
- Multiple payment methods.
- Lack of transparency regarding trading conditions and account types.
- Unusually high minimum deposit requirements.
- Limited information about the broker’s history and ownership.
- Absence of official regulation and licensing.
- Regulatory warnings.
Frequently Asked Questions (FAQ)
Kowela offers various trading services, including access to financial markets and trading instruments.
According to the trading conditions provided by Kowela, the minimum deposit required is $5,000.
Kowela’s safety and legitimacy raise significant doubts. The lack of clear regulatory oversight, misleading information about its registration, and other red flags make it a questionable choice for traders seeking a safe and reliable trading partner.