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Why was the withdrawal in Konnaxvest so slow?
Huxley
Guatemala
2023-09-19
ANSWER The unlicensed status of Konnaxvest may lead to your withdrawal issue.While Konnaxvest displays an incorporation certificate issued by the Companies House (CH) to appear legitimate, it remains an illegal firm. The mere registration with the CH doesn't mean being authorized to provide financial services or products in the UK. It is required to obtain license from the Financial Conduct Authority (FCA) before soliciting investors. However, the FCA has added it to its warning list, classifying Konnaxvest as an unauthorized firm. The full warning can be accessed here.Therefore, BrokersView has concluded that Konnaxvest is a scam. Without the regulatory oversight, individuals dealing with the platform cannot be protected by rules from fraud and theft. If any violation occurs, traders may not be able to reclaim their funds or get compensation from any official body. To avoid such risks, it is advisable to choose a fully regulated broker.
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