Quick Links

• Our Review Method

• Is KayaFX Scam or Legit Broker?

• What is KayaFX?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding KayaFX due to the issues we've identified.

Is KayaFX Scam or Legit Broker? ▲

Trading with KayaFX presents a considerable risk to investors' funds due to its lack of regulatory oversight. KayaFX, a trading platform offering a range of financial instruments such as currency pairs, stocks, CFDs, major financial indices, and commodities, is operated by AlphaTec Ltd. Despite claiming to be based in Leeds, England, KayaFX does not have authorization from the necessary local regulatory body, the Financial Conduct Authority (FCA) in the UK.

• About KayaFX:

• Registered in: No Registration

• Type of License: No License

• Is KayaFX safe to trade: No

• Recommended Licenses: FCA in UK & ASIC in Australia

The absence of a license from reputable regulatory bodies like the FCA and the Australian Securities and Investments Commission (ASIC) raises significant concerns about the safety of trading with KayaFX. Furthermore, regulatory authorities in the UK and Spain have issued warnings against KayaFX, emphasizing its unauthorized status and the potential dangers it poses to UK residents and others.

What is KayaFX? ▲

KayaFX claims to facilitate trading services through clearing and billing services managed by Hermes Solution DOO in Montenegro. Additionally, the broker states that its operations are under the jurisdiction of Estonian law. However, the lack of regulation by local authorities in both Montenegro and Estonia further contributes to the questionable legitimacy of KayaFX. The firm's regulatory status, or lack thereof, has led to formal warnings from the FCA in the UK and CNMV in Spain, both highlighting KayaFX's unauthorized provision of investment services and advice, including foreign currency transactions.

Conclusion ▲

Considering the information and findings from our comprehensive review, we strongly advise traders and investors to steer clear of KayaFX and other brokers that lack regulatory oversight. The absence of crucial details regarding the broker's regulatory status, trading conditions, and contact information signals a high risk of investment scams. For those looking to engage in trading activities, it is imperative to choose brokers that are well-regulated by reputable authorities such as the FCA in the UK or ASIC in Australia, which adhere to strict regulatory standards, offer a safer and more transparent trading environment.

KayaFX Update:

It is worth noting that the KayaFX Invest website has recently become inactive, rendering it impossible to initiate account openings or access trading services. Despite this, we urge traders to remain vigilant and cautious, especially if approached with trading proposals from KayaFX or similar entities lacking appropriate regulatory compliance.