Is KayaFX a scam broker?
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KayaFX is a forex and CFD broker which is owned and operated by GammaTech Services OU and located at Harju Maakond in Estonia. It was founded in 2016. Their aim is to make trading in financial markets easily reached by everyone regardless of experience.
KayaFX has introduced a new way of trading for the general public and is diversified which is a good thing. Apart from forex trading they also offer CFD’s and crypto currencies. The website is available in English, Dutch, Spanish and Portuguese.
Options of three different platforms are available for trading Web trader, Mobile trader and Meta trader4. Webtrader is a browser-based platform and does not need downloads or installation. Through Mobile trader application one can trade forex on the go which works on Android and iOS operating system. Meta Trader is easy to use interface with powerful trading tools and is one of the most popular platforms in forex trading world.
KayaFX is registered in Estonia which does not have strict policies and regulations. It is not regulated by any known regulatory authorities like ASIC, FCA, CFTC, CONSOB etc. It is because of this many companies are involved in online scam.
Accounts on offer are Mini which is suitable for beginners and would like to start their forex career at a slow pace. Bronze is for those who wish to dive little deeper into forex world. Silver is for the newcomer and advanced traders alike, and it is the best selling account. Gold is for ambitious traders who wish to take advantage of all the available features.
Assets available are major currency pairs (USD, GBP, EUR, and JPY), CFD’s is available for indices and stocks. Commodities trading is available for precious metals, agriculture and energy resources.
KayaFX is a scam broker and their methods are virtually the same as other scam brokers. No sooner they have a notion that you do not trust them your account will start losing multiple numbers of trades. The account managers use different names but their way of deception is the same.
When you join and start trading, most of your trades will be in profit. Then there will be demand and pressure to upgrade your account to a higher level. At KayaFX they will call you up regarding an upcoming event or something big in a market where you will be making a huge amount is a single stroke and for that, you will have to increase your amount to make a killing. Talk to them about withdrawal and you will start losing trades at KayaFX scam. And if this does not work they get rude. Ones they get an intuition there is nothing left to steal they set negative trades and your account is left with nothing.
If KayaFX scammed you of your hard earned money and you are not able to withdraw, you can contact MyChargeBack. Many countries have banned binary options and retail forex trading, and few have restricted their trading by coming up with harsh penalties. MyChargeBack is dedicated to protecting you if the company has fraud, scammed or cheated you like KayaFX is a scam broker has done with innocent investors and traders.