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 firstname.lastname@example.org 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.
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.
- 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.
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.
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