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KayaFX Review
Traders Rating2 Votes1.7
Website: https://kayafx.com
Address: C/O GammaTech Services OU, Roosikrantsi 2-K284, Talinn, Harju maakond, 10119
Phone: 02037699927 - 02038682886 - 02039361178 - 02080683537
Email: support@kayafx.com - compliance@kayafx.com - verification@kayafx.com - info@kayafx.com
Company: AlphaTec LTD
Company Address: Mazars House, Gelderd Road, Leeds, England, LS27 7JN
Regulation: Not Regulated
0.1
KayaFX Rating
KayaFX Warning
Financial Conduct Authority (FCA) warns against Kaya FX !
Have You Been Scammed by Kaya FX ?

 

 

What is really the truth about KayaFX?

 

When you are looking at KayaFX to start trading in forex, then you should make sure that you have all your facts, before you decide to use them. There are many reviews about them that are positive and that are giving people the idea that they are legit. However, when you are looking at the facts, then you will realize that there are more to this forex broker than what you might think. These are everything you need to know about them.

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Overview of KayaFX

 

This might be the one reason why many people trust KayaFX. They have a legit address, a legit telephone number, and even customer support email accounts that you can use for support. They are situated in Estonia. Making this a little bit more worrying.

They are an unlicensed broker, so there are really a lot of risks involved when you are trading with them. Making them risky. However, this isn’t the only reason why you should not make use of them for investing in forex.

 

Different accounts that they have to offer

 

They are offering different accounts that you can choose from when you are registering for your account. There is a demo account where you can learn how to trade. This is the only real thing about KayaFX. Because you can’t really see if they are reliable or not.

Then the first account, with the smallest minimum deposit that you should make is the mini account. The minimum deposit that you can make is $300. This is a lot of money that you will lose when you are making use of these brokers. Every account has its own minimum deposit, and it is just going higher and higher. They are claiming that with each account, you will have added benefits.

 

A platform that they are using

 

This is where most of the confusion comes in. They are making use of the popular MT4 platform. This is the platform that most trustworthy and reliable brokers are using. But, this doesn’t mean that they are legit and can be trusted. They are only using one of the best platforms to make brokers at ease and to use them as their brokers.

They are offering different languages for the platform, making it easier to trade in your language. They are also offering different payment options for the deposit that you need to make. Making sure that it is easy enough for you to start trading.

 

Licensed or not?

 

This is where the warning comes in. They aren’t licensed. Meaning that they don’t have permission to be forex traders. And, they aren’t regulated to ensure that they are an obeying all the trading rules.

This is where the scam starts. They can create their own rules and regulations, and even not following their own rules and regulations. They can change it at any given time, putting you against their rules and banning you from their site.

 

Struggle with getting your payouts

 

Because of the popular and trustworthy platform, the trading self is legit. You can trade and make money when you are using KayaFX. However, the problem starts when you want to withdraw your money.

Then they are using their rules and regulations to put a hold on your account. Or, they just don’t deposit your money back into your account. And, that supposed customer support doesn’t exist. They just don’t get back to you or give you your money back. This is the whole idea of the scam. To let you trade successfully, but they are stealing your money when you want to cash in.

 

Blacklisted for a couple of reasons

 

During 2018 they were blacklisted for a couple of reasons. The first reason is that they have traded with people in the United Kingdom without permission or licenses for the UK. And, this is why the UK did blacklist them. Meaning that people in the UK can’t use them legally.

The other reason why they are blacklisted is that of the payouts that they are blocking. And, the fact that they are unlicensed and unregulated. Regulators are blacklisting them, after a couple of complaints about payments were received. This is why you should make sure about the forex brokers that you are going to use, isn’t blacklisted in any way.

 

Regulators warnings

 

Regulators are warning potential investors about KayaFX. This is because they aren’t regulated and can basically do anything they want to do. Even if this is illegal. They are using a popular platform to get the attention of traders. Just to find out later that they don’t do payouts. The money you had in your account isn’t really yours. They will not give it to you when you are requesting withdrawals.

When you are looking at KayaFX, you will see that there are a couple of things that are making this a great trader. They have different accounts and even offer a demo account. They are making use of a popular platform. However, this is where the good things end. They are unregulated, unlicensed and doesn’t allow withdrawals. Putting a hold on your account or banning you from the site. Regulators are warning people against these brokers, and this isn’t without any reasons.

 

 

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Online Trading Scams / 14 Responses / by

Post Author: ScamRecovery

14 thoughts on “KayaFX Review

  • Veliswa Myalezwa

    (August 11, 2018 - 6:01 pm)

    I have been trying to withdraw my capital but it says Insufficient Funds please help i am in financial constraints my balance is 3267

  • Magda

    (August 30, 2018 - 10:51 am)

    I invested 250$ with Kayafx. Suddenly i drop from 551$ to 17$!. Every time i asked them to stop trading, and that i want to quit, they just go on with trading. At some point i was on 44$, and want to withdraw it, but they said i can’t withdrawhl under 100$. I am locked out of my account, they just don’t get back to me, after i sent many emails.

  • Tee Peck Khoon

    (September 6, 2018 - 12:22 am)

    I have deposited Euro250 in May 2018 thinking of making some money. After advice from friends I decided to withdraw the money but unable to do it. Now I can’t even login my account.

  • Goodwill Mashego

    (September 12, 2018 - 12:43 am)

    Please I am in financial constraints my funds €346

  • Rosanwo

    (September 25, 2018 - 8:39 pm)

    I have been trying to withdraw my capital but it says Insufficient Funds please help i need my money my balance is 6730 Euro

  • Marlies Schwarz

    (October 9, 2018 - 7:07 am)

    This are scammers!! Hands off. We are right now loosing over 100000.

    • Rene

      (November 28, 2018 - 10:21 am)

      I have also been scammed what now any help will be appreciated.

  • Joaquim Franco

    (October 23, 2018 - 11:13 pm)

    I made a deposit of 250euros in kayafx in May of 18, I did not make any investment, I gave up applying and I asked for my deposit back. First they answered me and they said that they would return in 14 days and until today nothing, I already sent countless e- mails

  • Gerard Janssen

    (October 29, 2018 - 4:01 pm)

    I made a deposit of €250,– in January 2018. Almost every day I got a telephone call to deposit more money. As I refused every time they were pushing me more and more and calling me a looser. I decided to withdraw my money en gave them the order to close down my account. They did not do anything! Every day they were trading with my account. Till two months ago, suddendly I could not login anymore. I asked for a new password but did not succeed till today to login. Even after ten/ twenty times asking for a new password. I also noticed that there is no agent available to chat with. They also donot react by mail.**Beware of KAYAFX , they are scammers.**

  • Hetoremyfu

    (December 10, 2018 - 10:53 am)

    Watch out these kayafx scammers: Greg Thomas; Joseph Chon Bernanke; Sean Allen.
    They cheated my retirement money of over three hundred thousands.
    For all of you being scammed by kayafx, take action like reporting to the police, complain to the British Embassy and get help from MyChargeBack. And hire a private eye investigator to hunt down their locations. Don’t let them get away free.

  • Michael

    (December 14, 2018 - 6:10 am)

    I hope scamrecovery.net publish this message as a warning to others.
    Kayafx is definitely a scam broker. Watch out these people: Greg Thomas, Joseph Chon Bernanke, Ernest Hill, and Sean Allen. Sean Allen is the worst, very unfriendly and rude, and always tries to frighten you.
    This Joseph Chon Bernanke once told me that he can block all my correspondences to the kayafx company.
    Sean Allen even bossy and said you will no longer dictate to me how my work flow will go the only option you have here… (I have his email as evident)

    Once you stop continue deposit funds and start to make withdrawal, you will sell their real faces.
    Kayafx’s department like support@kayafx.net, compliance@kayafx.net, verification@kayafx.net, info@kayafx.net, are all working in cahoots. They did not reply to enquires and complaints, wasting your time.
    Kayafx had cheated all our hard earned money, and we will be poorer in our retirement. There will be no Christmas presents for our children and grandchildren.

    For all victims of kayafx: take action to get justice done and not let them get away so easy.
    Make a police report; Report to the British Embassy. Why UK still allow kayafx to operate in UK?
    Maybe their names also fake so making private eye tracking them down difficult
    How do we unite together to bring justice? Can US help us to act as global policeman?
    Their telephone number in Singapore is wrong. It belongs to some other company.

  • Kevin

    (December 26, 2018 - 10:17 pm)

    Let’s join forces together so all victims can lodge the seriousness of the fraud, theft and criminal activity and bring this company and individuals to justice, all monies are in the Middle East, UAE rules are strict, just need help on how implement them

    • Michael

      (January 4, 2019 - 5:15 am)

      Mr. Kevin, I have WhatsApp and Telegram using my mobile.
      How to join force to bring down those scam from kayafx and GammaTech Services OU?

  • Rosanna

    (March 18, 2019 - 9:18 am)

    Hi, I did a withdrawal from my account a few weeks ago and nothing is reflected in my bank account.
    I tried to login now and I cant login in.
    I received a call just last week from a consultant asking what I would like to do with my money and when I explained the situation. He told me to contact the company.

    Please help

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