Is KayaFX a scam or legit broker?

No, it is not safe to trade with KayaFX. KayaFX delivers options for trading in some of the most popular liquid assets, including currency pairs, stocks, CFDs, most major financial indices, and commodities. It is owned and operated by AlphaTec Ltd., and claims to be located in Leeds, England. However, it does not carry a license from UK regulator– Financial Conduct Authority (FCA).

About KayaFX
🗺️ Registered inNo Registration
🗺️ Type of LicenseNo License
🛡️ Is KayaFX safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerIC Markets - licensed by ASIC in Australia

According to the terms and conditions, the clearing and billing services are done by Hermes Solution DOO, based in Montenegro. Also, they mention that the relations between the broker and clients are governed by, and interpreted in accordance with the laws of Estonia. However, KayaFX is not regulated by the local regulators in the mentioned countries.

Moreover, the UK’s regulator FCA has issued a warning against KayaFX in March 2018:

“This firm (KayaFX) is not authorized by us and is targeting people in the UK. Based upon the information we hold, we believe it is carrying on regulated activities which require authorisation.”

There is also a more recent warning, issued by the Spain’s CNMV:

“KayaFx AlphaTec Ltd., is not authorised to provide the investment services, which include investment advice, or to provide the auxiliary services in relation to the financial instruments, for those purposes, foreign currency transactions.”


We advise all investors and traders to avoid KayaFX and other unregulated brokers. The lack of information about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BlackBull Markets and BDSwiss.

KayaFX website is no longer active.

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