- Excellent selection of trading platforms
- Competitive spreads (fixed or floating)
- Good customer support
- Offshore brokerage
- Not the best regulation
KayaFX is an innovative online trading brokerage offering traders the opportunity to trade forex, CFDs on stocks, indices, and commodities, and the new and popular digital assets of cryptocurrencies. The brokerage is owned and operated by GammaTech Services OÜ and was recently established in 2017. The brokerages headquarters are located at 14247106, Roosikrantsi 2-K 284, Tallinn, Harju Maakond, 10119 Estonia. Being located in Estonia, KayaFX is not regulated by the most reputable regulatory agencies, but it is registered with the Ministry of Economic Affairs and Communications (MKM). KayaFX is an international trading brokerage and offers their services to traders from all over the world. The website and their services are available in 4 languages, English, German, Spanish, and Portuguese. At first glance, this broker appears to be very competent while offering a wide range of tradeable assets to invest in, but should they be trusted? In the following review we’ll delve deep into the aspects that make up this online trading brokerage and see what sets KayaFX apart from the competition and whether or not they can be trusted.
KayaFX features a whole suit of trading platforms for their clients to choose from, including the famous MetaTrader 4 (MT4) trading platform, a WebTrader platform, and MobileFX app for trading while on the go. See an overview of these platforms below.
MetaTrader 4 (MT4)
This platform is the most popular trading platform on the market and is the number one pick by most traders. It includes everything a forex trader needs to succeed, including a complete and complex charting package, numerous technical indicators, and a suite of drawing and analysis tools. The MT4 platform also supports one click trading which allows user to place and execute orders instantly directly from the chart. This platform must be downloaded to your Windows or Mac computer and is well designed for both advanced and beginner traders.
The WebTrader platform is completely web-based and is accessible from any computer with an internet connection, there’s no need to download any applications. This platform is fully featured and gives traders extensive access to information regarding the markets. As well, traders have access to a complete charting package for live analysis, a feature called “trading cubes”, which gives you the most relevant statistics for your trade, visual data trends, and a demo account. The whole WebTrader interface has been meticulously designed to allow for simple, fast, and complex trading. The platform easily accommodates the needs of both beginner and advanced traders.
This downloadable application is available for both Apple and Android smart devices including phones and tablets. The application features all the important features included in the desktop platforms but has been optimized for mobile trading. Now traders can make important decisions and manage their portfolio while on the go.
KayaFX offers traders an extensive list of financial instruments to trade across numerous markets. For instance, traders can participate in the trading of more than 150 tradeable assets including forex and CFD trading on stocks, commodities, indices, and cryptocurrencies. In total, there are nearly 50 cryptocurrency pairs, 70 currency pairs, 15 commodities, 21 indices, and over 170 stocks available to trade. KayaFX truly has an extensive range of tradeable assets which are sure to appeal to nearly every type of trader.
Fees and Commission
Traders incur fees through the spread on their trade and they have the option to trade currency pairs on a fixed spread or a floating spread. There are no additional fees as all fees are incorporated into the spread. It’s in the trader’s best interest to choose to trade with a floating spread as the spreads are generally lower. For instance, the fixed spread on the EUR/USD currency pair is 3 pips, which is relatively high compared with industry standards. In order to trade with floating spreads, clients must sign up for the Bronze, Silver, or Gold account type. The standard “Mini” account type only offers fixed spreads.
Security and Fairness
KayaFX is a safe and secure online trading brokerage. There have been no reports of them being fraudulent or mistreating customers in any way. Also, the broker is registered and regulated by theMinistry of Economic Affairs and Communications (MKM). This regulatory authority helps to ensure the broker employs best financial practices and keeps clients personal information and funds safe. KayaFX also treats their clients fairly and provides every trader with various options such as multiple trading platforms and 5 different account types; Mini, Bronze, Silver, Gold, and Swap-Free accounts.
KayaFX features various methods of support including live chat, email, an online contact form, and telephone support in 4 different languages. The support representatives are available Monday to Friday from 05:00 – 22:00 GMT. Support representatives have been reported to be fast to respond and helpful with their responses. Additional methods of support include reaching out to KayaFX’s social media channels which include Facebook, Twitter, Google+, LinkedIn, and YouTube. Also, clients can find the support they need from the websites extensive FAQ page and informative education center.
Overall, KayaFX appears to be an excellent online trading brokerage who offers a wide array of tradeable assets, trading platforms, and investment services to their clients. The broker is fairly new but has built up a good reputation in a short amount of time. The customer support is dedicated and friendly, and KayaFX does an excellent job at providing additional resources for the trader’s benefit. As well, KayaFX offers competitive spreads and allows traders to choose from either fixed or floating spreads. KayaFX is a good trading brokerage with many options suitable for both beginner and advanced traders.
The following are the common questions that customers inquired about KayaFX.
Is KayaFX regulated?
Yes, it is regulated by the Ministry of Economic Affairs and Communications (MKM).
Is KayaFX a scam?
No, KayaFX is a legit broker with a good reputation.
Where is KayaFX based?
KayaFX is based at at 14247106, Roosikrantsi 2-K 284, Tallinn, Harju Maakond, 10119 Estonia.