Kowela – Broker Review

Kowela

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Kowela

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If you are looking for a reliable and trustworthy online broker, you might have come across Kowela. Kowela is a forex and CFD broker that claims to offer competitive trading conditions, advanced platforms, and professional customer support. But is Kowela a scam or a legit broker? In this review, we will examine the features, pros, and cons of Kowela and help you decide if it is worth your time and money.

What is Kowela?

Kowela is an online broker that was founded in 2019 and is based in St. Vincent and the Grenadines. According to its website, Kowela is regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines under license number 25432 BC 2019. Kowela offers over 200 trading instruments, including forex, indices, commodities, stocks, and cryptocurrencies. Kowela provides four types of trading accounts: Basic, Silver, Gold, and Platinum. The minimum deposit required to open an account is $250. Kowela also offers a demo account for beginners who want to practice their trading skills before investing real money.

What are the advantages of Kowela?

  • Access to multiple trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and WebTrader. These platforms are user-friendly, customizable, and equipped with various tools and indicators to enhance your trading experience.
  • A wide range of payment methods, including credit cards, debit cards, wire transfer, Skrill, Neteller, and Bitcoin. Kowela does not charge any deposit or withdrawal fees, except for wire transfers that incur a $30 fee.
  • A dedicated customer support team that is available 24/5 via phone, email, live chat, and WhatsApp. Kowela also provides educational resources, such as webinars, ebooks, videos, and articles to help traders improve their knowledge and skills.
  • A generous bonus program that rewards traders with up to 100% bonus on their first deposit. The bonus can be used for trading purposes only and cannot be withdrawn until certain conditions are met.

What are the disadvantages of Kowela?

  • Lack of transparency and credibility. Kowela claims to be regulated by the FSA of St. Vincent and the Grenadines, but this is not a reputable or reliable regulator. The FSA does not have strict rules or standards for online brokers and does not protect the interests or funds of traders. Moreover, Kowela does not provide any information about its owners, managers, or address on its website.
  • High spreads and commissions. Kowela charges variable spreads that depend on the market conditions and the type of account. The spreads can be as high as 3 pips for major currency pairs, which is above the industry average. Additionally, Kowela charges a commission of $10 per lot for CFD trading, which adds to the trading costs.
  • Negative customer feedback. Many online reviews and testimonials from traders who have used Kowela indicate that they have faced various issues and problems with this broker. Some of the common complaints include delayed or denied withdrawals, poor customer service, false advertising, account manipulation, and unauthorized charges.

Conclusion

Based on our research and analysis, we conclude that Kowela is not a trustworthy or reliable broker. There are many red flags and warning signs that suggest that Kowela is a scam or at least a very low-quality broker. Therefore, we advise you to avoid this broker and look for other alternatives that are more reputable and regulated by well-known authorities.

What to Do If You’ve Lost Money with Kowela?

If you have been scammed by Kowela or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.