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Kowela Review

by Kevin Berry
Rating: 
  1.4/5   Reviews: 6
Kowela - logo

The brokerage company Kowela offers access to over 1,500 CFD assets, educational resources, an experienced support team, and a modern trading platform. The broker identifies itself as a global investment firm with vast experience, yet it doesn’t possess even a single license. The business model is not explained, and the number of reviews online is too few to make claims about the global reach and popularity of the organization. So, what is it really? A scam or genuinely a safe intermediary for collaboration? Let’s delve into it.

Highlights

🏛️ Country Hong Kong
⚠️ Regulation
🖥️ Website https://kowela.com/
🎲 Demo Account No
⏳ Start Time 2021
💲 Minimum Deposit $5,000
⚖️ Minimum and Maximum Leverage 1:400
⚙️ Trading Platform WebTrader
📨 E-mail customer.info@kowela.com, docs@kowela.com
📞 Phone +18008615256

First Impression of Kowela.com

The official website of this company is a typical and standard brokerage resource, detailing trading conditions, the platform, and additional features. However, it lacks specificity and details. For instance, crucial information about Kowela’s operations and legal documents are missing. It is a significant shortcoming.

Kowela - site

Upon entry, three rotating motivational phrases greet us with some trading conditions and images of people in suits, symbolizing ambition and a drive toward success. The top part of the site contains standard sections; the main page lists and reiterates many conditions, advantages, and merits of the platform, while the bottom has the standard disclaimer warning about the risks of margin trading. Overall, Kowela’s website didn’t leave a positive impression. In some places, it even seems unfinished. For example, there are social media icons, but they don’t lead to actual accounts; instead, they redirect back to the main page.

Partnership and Bonuses

Kowela offers bonuses to its clients, which is not surprising since it’s a favorite tactic of all CFD companies. The thing is, bonuses are provided under specific conditions that restrict fund withdrawals. These conditions are often very challenging to meet, with even experienced traders struggling to fulfill them, let alone beginners. However, the firm does not disclose detailed bonus terms.

The affiliate program is not mentioned on the site, but when creating a personal account, there’s a field labeled “promo code”. Therefore, Kowela has an affiliate program but, again, does not disclose its details.

Account Opening on Kowela.com

The process of creating a personal cabinet involves not only providing a name and contact details but also currency (USD, or EUR) and residential address. You also need to agree to the documents.

Registration

Unfortunately, we couldn’t create an account. After entering all the information and checking the boxes, the system displayed an error: “It seems an error occurred. Please reach out to our support desk for further assistance”. Oddly, Kowela doesn’t allow for quick account registration to explore the internals and get a closer look at the platform. Most likely, before creating an account, one needs to communicate with a manager who will undoubtedly try to coax more deposit money out of the client. By the way, there’s no demo account. At least, such an option isn’t mentioned on Kowela’s website.

Registration error

Verification

Verification at Kowela is a mandatory process. It’s not enough to just provide personal details; they also need to be confirmed. The broker requires three standard documents: proof of identity, proof of residential address, and a photo of the bank card if it’s used for balance replenishment. Documents are uploaded in the personal account or sent to the support email.

Pros
  • None.
Cons
  • Requires you to take a picture of your bank card.

Trading Software

It’s impossible to test the platform in practice since an account can’t be created due to an error. One has to rely on what Kowela says about its platform on the website, although it’s not advisable to do so. Companies often exaggerate and present their terminal in a better light than it actually is. However, there’s no other option.

The terminal provides access to technical charting, fundamental stock research tools, free market data and news, 3 chart types with direct trading from the charts, 6 pending order types, 38 built-in indicators, and 37 graphical objects. Kowela’s platform is available as a Webtrader, and it can also be downloaded on Android/iOS smartphones.

Features Kowela KLG-ctx Korata
Demo Account
Mobile App ✔️ ✔️
Own Development

How Can I Trade With Kowela?

The company allows trading only CFDs, with access to forex, metals, commodities, cryptocurrencies, stocks, and indices. Kowela operates on the principle of “pay more – get more”, so here account types are divided into several categories.

All Info About Accounts

The size of the minimum deposit is staggering – it’s $5,000. This exact amount is required to open the first tariff called “Junior”. Kowela demands vast sums of money, even though many well-known brokers offer to start with just $10. Beginners, also “Junior” account owners, get access only to indices and energies – what about the other asset classes? Additionally, there are in-depth investing tools for daily trading, access to weekly signals, competitive market pricing, multiple execution orders, and multi-language support. The next tariff requires $25,000 and differs from the first by only one asset class, which is stocks, and fundamental trading materials, and access to multi-asset trading. So, what’s the point? The amount differs by 5 times, but there are hardly any advantages.

Account types

In Kowela, there are 7 types of accounts. There’s no point in considering the other tariffs, starting with “Investor”, where the minimum deposit is $50,000, and ending with “VIP PRO” requiring an investment of 10 million dollars. Because no one would be willing to invest such amounts in a broker that doesn’t even have licenses. My goodness, the company is asking for millions of dollars – what? Where have you seen such a thing? Who came up with these terms and requirements? It’s complete madness.

Meanwhile, the firm hides the size of the spreads, their type, and commissions. There’s a leverage of up to 1:400, which clearly indicates the absence of regulation. After all, if the company had regulation, it would offer leverage no higher than 1:30, as supervisory bodies prohibit providing high leverage. Also, one shouldn’t forget that Kowela lacks a demo account. An Islamic account is available only on the “Trader Pro” tariff, which, just for a moment, requires a $250,000 deposit. So, it can be said that there’s no Islamic account here.

Pros
  • None.
Cons
  • Inadequate minimum deposit requirements.
  • Important trading conditions are hidden.
  • There is no demo account.

Market Analysis and Education With Kowela.com

Users can utilize additional tools and widgets. Kowela offers a pivot point calculator, Fibonacci calculator, economic calendar, basic information about tradable assets, instruments expires, and trading hours.

Deposit, Withdrawal, and Fees

The broker supports money transfers using credit/debit cards, bank transfers, and cryptocurrency. Kowela does not charge fees for deposits and withdrawals. The minimum withdrawal amount is $50, and the processing time is stated to be up to 5 working days.

Features Kowela Lyraten  IC Markets
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee ✔️ ✔️

How Can I Contact It?

The firm provides an online chat, email, and phone number for communication with managers. Interestingly, the phone number is related to North America, although Kowela’s address is listed in Hong Kong. Overall, checking the contacts didn’t reveal much, but it’s worth noting the absence of social media accounts, even though icons are present on the official website.

Pros
  • Multiple ways to contact managers.
Cons
  • There are no social media accounts.

Is Kowela Dangerous?

It cannot be said that the company looks safe and profitable, quite the opposite. There are some unrealistic and inadequate requirements for the minimum deposit, secrecy, and opacity regarding trading conditions, as well as about their activities. We need to examine the licenses, documents, and the foundation date of Kowela to make a verdict.

How Long Does The Broker Work?

The official website briefly mentioned the year 2020, yet there’s no clear answer as to when Kowela was founded. Registration documents are missing, although they could have given us an idea about the company’s operational duration. We checked the domain registration date, which is October 2020, and there are snapshots from Web Archive confirming that the company was offering services already in 2021. Let’s take 2021 as the platform’s launch date. And, of course, it is a meager operational period.

Domain

How Is Kowela Regulated?

On the official website, the broker indicates that its headquarters is in Hong Kong. We’ll check the registry of the Hong Kong Securities and Futures Commission (SFC), which oversees brokerage firms in this jurisdiction. It turns out that Kowela LTD is not listed there. However, that’s not all. We also found on the SFC website that the regulator warns people about the risks posed by the company, as it is not a licensed organization.

Kowela - SFC

Features Kowela Oanda Axi
European Zone ✔️ ✔️
Asian Zone ✔️
American Zone
African Zone
Offshore ✔️

Frequently Asked Questions (FAQ)

How to Trade With Kowela?

To start trading, you need to register an account on the official website, providing personal information. However, at the time of writing this review, registration is impossible due to a technical error.

Is Kowela Legit?

The broker does not have a license, so it operates illegally. Moreover, the financial commission of Hong Kong even warns about this, advising traders and investors to avoid the firm.

How Risky Is It?

Trading with Kowela is a maximum risk. The company conducts illegal activities, so there's a high likelihood of losing money here.
Kevin Berry
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Expert Opinion

Even the Hong Kong regulator has taken notice of the fraudulent firm Kowela. If you disregard the opinion of the official financial commission, then I’m at a loss for words. It’s evident that the broker is illegal and fraudulent; it scams traders for money, demanding very large sums. The minimum deposit here is $5,000, although it used to be $2,500. Are there really people willing to invest such amounts of money in an obvious dealing desk? Apparently, yes. Unfortunately, many investors don’t understand all the risks they take when they start collaborating with such pseudo-brokers.

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Kowela rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

6 reviews about Kowela

Boxer September 26, 2023 - 02:46
They're scamming people!!!
The level of trust
Quick withdrawal of funds
Efficiency of technical support

SCAMMERS!!!! They scammed my mother over the phone!!! MAY YOU BURN IN HELL!!! They stole all of the woman’s savings, which is 5k dollars!! SCOUNDRELS, RETURN THE MONEY QUICKLY!

Reply
Mute_io October 2, 2023 - 14:12
They owe me 2,000 dollars
The level of trust
Quick withdrawal of funds
Efficiency of technical support

They are scammers. They owe me $2000, but they haven’t withdrawn the money for a long time. I realized this after waiting for a month. Now they don’t even communicate with me. Kowela deceitfully lured me into their forex trap, took my money, and don’t intend on returning it. Classic forex scam.

Reply
Julian October 5, 2023 - 02:09
It is not the place to trade
The level of trust
Quick withdrawal of funds

If you’re looking for a good and safe brokerage intermediary, you’re in the wrong place. Here, there’s a short operating period, many negative reviews, no license, a fake legal address, and a 100% b-book business model. So, there are many red flags with this scam broker.

Reply
Gerald Munz October 9, 2023 - 19:08
No license
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Kowela operates without a license. Perhaps that’s the only thing you need to know about this scambroker to never open an account here. And now it’s impossible; I’ve seen many traders unable to open an account here multiple times. You definitely need to get in touch with the scammers who sit in technical support. And it is done so that these scammers can actively swindle people out of their money. Smart.
Stay as far away from this fraud project as possible. This isn’t a broker; it’s a scam and fraud. Find a legitimate firm with licenses and a long track record. And forget about this pseudo-broker.

Reply
INTL October 11, 2023 - 11:31
I can't think of anything good about the company
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I can’t say anything good about the brokerage firm Kowela. At first, I thought it was a great broker where you could earn serious money, make a profit, and enjoy life. But after trading here for about a month, I realized I was mistaken.
The quotes and charts here are clearly fake. It’s unclear where they get their quotes from, but they differ from other sources that can be found on tradingview, especially noticeable on forex and cryptocurrencies. It’s as if Kowela was “drawing” charts to their advantage to liquidate me. So, it’s clearly a fake platform, a fake broker, without executing trades on real liquidity providers.
Next – high conditions, severe platform lags, and so on. The conditions didn’t allow for profit. In the end, I lost all my money here. The feelings are unpleasant; I wish I hadn’t ventured here. I can’t recommend this dealing desk to anyone.

Reply
maria October 16, 2023 - 02:17

a month, I realized I was mistaken.
The quotes and charts here are clearly fake. It’s unclear where they get their quotes from, but they differ from other sources that can be found on tradingview, especially noticeable on forex and cryptocurrencies. It’s as if Kowela was “drawing” charts to their advantage to liquidate me. So, it’s clearly a fake platform, a fake broker, without executing trades on real liquidity providers.
Next – high conditions, severe platform lags, and so on. The conditions didn’t allow for profit. In the end, I lost all my money here. The feelings are unpleasant; I wish I hadn’t ventured here. I can’t recommend this dealing desk to anyone.

Reply

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