KayaFX Forex Broker Review

KayaFX is a forex broker trading site that claims it is built particularly for beginners in the field.

This broker claims it is built in a way that it gradually carries a client from the amateur to the developed trading level in a relatively short period by teaching this client a step-by-step process of learning and understanding of the markets and also of making well-informed decisions.

It is allegedly owned and operated by AlphaTec Ltd., and it also alleges to be located in Leeds, England.

Regardless, it does not maintain a license from the UK regulator– Financial Conduct Authority (FCA).

kayafx forex broker review

This broker has a low trust score of 1 out of 5 and it is very likely to be a scam broker.

And on the course of our research, we discovered that KayaFX was an unlicensed Forex & CFD broker, that alleged to be acquired by AlphaTec LTD.

They are now out of business!

 

KayaFX Forex Broker Trading Platform

This broker offers the MetaTrader 4 and Mobile forex online trading top platforms.

 

What KayaFX Forex Broker Says It Offers

It also claims it offers over 50 forex pairs, indices, stocks, currency pairs, gold, silver, commodities, and CFDs for a client’s private investment and trading options.

 

KayaFX Forex Broker Account Types

KayaFX offers various account types:

  • Mini Account – This account type known as the beginner pack is for traders without past trading understandings.
    This broker claims this account type offers vast access to all the trading tools traders may need.
  • Bronze Account – this account type provides access to webinars along with other features.
  • Silver Account – this account type is alleged to be the most preferred account by skilled and expert traders.
  • Gold Account – this account type is specifically developed for professional investors. It offers some extra trading conditions and compensation policies.

 

KayaFX Forex Broker Deposit and Withdrawal Methods

KayaFX withdrawal and deposit methods could be carried out by the following means:

  • Visa
  • Bank Wire transfer
  • MasterCard
  • Maestro
  • Sofort
  • Skrill
  • Neteller.

 

Is KayyaFX Forex Broker Licensed?

KayaFX is NOT a licensed broker!

This means that the broker has no regulatory bodies that regulate its activities to confirm they hold on to best practices.

 

Conclusion

There is no too much information revealed by this broker.
Although there’s a bit of confusion as some reviewers argue that they are real but from our findings, there are too many negative reviews about this broker and they are currently out of business.

Our readers would agree with us that complaints about most unlicensed brokers are usually withdrawal issues and it is the same with this broker.

This is not a broker we can recommend to our readers because it has no regulatory bodies that can fight for investors once they are scammed.

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