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Broker Review: KayaFX

Today I’m looking at a new Forex and CFD brokerage that wants to make trading accessible to everyone, KayaFX. They claim to provide traders with professional help from experienced traders and powerful tools, “which are designed to meet and even surpassed the requirements for high–profile trading.” It’s clear that they want to make traders feel comfortable, and confident in their ability to succeed.

Owned and operated by GammaTech Services OÜ, the head offices are located at 14247106, Roosikrantsi 2-K 284, Tallinn, Harju Maakond, 10119 Estonia. To get in touch with support, traders can either email support@kayafx.com or phone +442037699927. There are other phone numbers as well, for different countries, and traders can access all of these via the contact page on their website.

KayaFX Review

My first impression is that the KayaFX website is professional and well put together. As for the service itself, they are currently offering 3 trading platforms. Traders can access the broker, and place trades via their web trader, their mobile trader application, or my personal favorite MetaTrader 4. Even though I do almost all my trading on the computer, it’s good to have multiple options, for traders that are on the go, and want to monitor their trades in real time.

Currently, the main promotion on the front page of their website, is advertising the fact that traders can trade crypto currencies with their brokerage. They also claim that traders who sign up looking to trade Bitcoin, Litecoin, Ethereum, Daschoin and Ripple will get access to “an account manager specialized in crypto currencies.” Personally, I don’t recommend using any sort of account manager with the brokerage. My experiences suggest that really good traders, and analysts work for themselves, and not for brokers.

Below the main promotions, are a couple of statistics. They boast that they have over 135,000 active accounts, over 1.2 million trades per day and over 84 countries represented in their client base. There is no way to verify these numbers, but it does serve to make their brokerage come across as a very large business, which is likely the intent.

I haven’t reviewed many brokers lately, but the most popular reviews I’ve done have been Forex Grand, and FXOro.

Breakdown

  • Type: Forex Broker
  • Founded: 2016
  • Location: Estonia
  • Minimum Deposit: $300

Multiple Account Types

KayaFX offers 4 different account types, mini, bronze, silver and gold. Generally, each account type requires a specific deposit amount in order to qualify, but this amount is not presented to us on the account types page. We are shown that the most popular account, which is best for newcomers is their silver account, but again we are not shown the size of deposit that is required in order to qualify for this account.

The only difference in the accounts, is that you get access to webinars, daily market alerts, one-on-one trading, a personal bonus and personal trading conditions. Some of these aren’t specified, so I’m unsure of what type of bonus you can receive and I’m also not sure what personal trading conditions are. I assume this has something to do with prices or ToolsTrades.

With that being said, there isn’t much of a difference between any of the account types. I see no reason to invest more than your comfortable with in order to upgrade to the silver gold packages.

It is also worth noting that all 4 account types allow Forex Expert Advisors on their platform.

KayaFX Client Feedback

As always, I’ve scoured the Internet for reviews and information on the KayaFX brokerage, but I haven’t come up with much. There are a couple of reviews from Forex review websites, but nothing really from clients.

There was only one review, from an unknown trader that I found in a forum claiming that this investment company is a scam, but I’m not really seeing anything to verify these claims. This could easily be from a competing broker as it’s not substantiated.

The impression I get so far, is positive.

Conclusion

While this isn’t my first choice for broker, and I already have more than enough brokerage accounts, the KayaFX service comes across as helpful and professional. I like most elements of their offerings, and appreciate the fact that they’ve increased their assets to include crypto currencies to serve the ever-growing needs of the marketplace.

If you have anything you would like to contribute to this review, please leave your feedback below the article now.

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

78 comments

  1. I invested in this setup ($300) I was continually phoned by a guy called Thomas who he said was based in Dublin, I was then told Thomas had moved to another arm of the setup and Charles became my personal advisor. My account was at $400 the same day over roughly 12 months it rose to £700 from dollars. This all started in 2017 not been able to make contact since, do these names ring a bell with anyone?

  2. Kaya fx is definitely a scam. do not fall for it. account manager oliver brooks persuaded me to borrow from the bank 70k and after 2 months, he disappeared. he left me a note saying that his wife and daughter died in a car crash. Kaya fx hotline and email nobody was replying…. Definitely a big fat scam. do not fall for it!

  3. Kayafx scammed me big time all good . But when i asked for my 20600 euro back after I found out they scammed
    other people .and asked for no more trading they lost the lot in about 48 hours I hope they rot in hell the dont answer phone or emails

  4. KayaFx is a scam company. I invested 23,000 USD and they denied me access to withdrawal and later blocked my account. I have called them and emailed them as well , they never respond to my calls and emails. I have reached out to a recovery expert yingyue at yandex com to help me recover my funds from them. I have recovered 18,000USD and still hoping I will be able to get the rest. Stay away from KayaFx

  5. KayaFX take scaming to new level. This firm is totally corrupt and has no morals at all. After requesting on multiple occasions for a full withdrawal of my funds they eventually processed three losing trades that charged swap amounts in excess of 3000 Euros which wiped out my account. This firm is definitely not a true broker just a scam artist ripping people off.

  6. KayaFX is a scam broker. A lot of binary options brokers are out there to scam people of their money, I was lucky wealthchargeback -.- com was able to help me get my $300,000 back,without upfront fees, after months of trying to withdraw and not getting response.

  7. KayaFX is a scam company.I lost $80,000 to this scam broker and I am lucky wealthchargeback dotcom got all my money back.Stay away from this broker

    • Did you pay first? Because one consultant asking to invest in bitcoin then 2% from recovery. But we what to pay after and we can give more than there service if they really recover.

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