KayaFX Review

Is KayaFX 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 the UK regulator– Financial Conduct Authority (FCA).

What is KayaFX?

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 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 authorization."

• There is also a more recent warning, issued by Spain's CNMV:

  "KayaFx AlphaTec Ltd., is not authorized 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."

   

KayaFX Review Conclusion

We advise all investors and traders to avoid KayaFX and other unregulated brokers. The lack of information about the broker’s regulations, 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 Update

Recently KayaFX Invest website remains inactive and unavailable to reach, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case their receive trading proposals.