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Kaya FX is considered by many among the most popular robot brokers currently available. You will be able to find a lot of information online on this platform but none of it will agree on whether or not it is a legit broker. That is why we decided to review it. We found out that it is actually a 100% legit broker and you can allegedly make significant profits trading on it. The best way to do that though it by accessing the broker through Bitcoin Trader, an auto trading robot.
Our review revealed that Kaya FX is a legit broker. Read our review to find out what you need to know about this robot broker and what is the best auto trading robot you can use to access Kaya FX.
Keep on reading if you wish to find out about Kaya FX’s fees, commissions, account types, customer support services, how to trade on it via Bitcoin Trader and much more.
What is Kaya FX?
Kaya FX is a robot broker currently owned and operated by AlphaTec LTD, registered at Mazars House, Gelderd Road, Leeds, England, LS27 7JN. At the moment, the platform has over 135,000 active accounts, it operates in 84 countries and over 1.2 million trades are places every single day on it. This makes it one of the most active and popular trading platforms currently on the market. According to the official website, by trading on it you will be “facing success” thanks to the support provided for you by customer services, educational resources, low spreads and so on. To be sure that these claims are true we have found many users testimonials claiming that it is possible to make money with this robot. However, we found users who claim that the best way to make profits on it is to trade on it via auto trading robots like Bitcoin Trader or Crypto Revolt.
The reason why we say that is that auto bots are more sophisticated and complex than robot brokers. Robot brokers simply offer platforms where you can invest safely but you will get no support while placing your trades. Crypto bots on the other hand, are based on complex algorithms that allow the system to analyse changes in the market in real time and based on that, it will place investments for you, requiring you to take very little action. Most of the work is actually done by the robot. To be able to place trades though, crypto bots have to connect to a robot broker and that is where Kaya FX comes in. The best way to start trading with Kaya FX in particular is to trade on it through Bitcoin Trader, especially if you are an inexperienced user.
Click here if you want to trade on Kaya FX via Bitcoin Trader.
Kaya FX Regulations
We were unable to find out whether Kaya FX is a regulated broker. The website does talk about the broker’s regulatory status. What we do know as a fact though, is that the role of regulatory agencies is to make sure that brokers protect customers from loss of funds as much as possible. We have found Kaya FX to be doing that efficiently no matter what its regulatory status is.
Is Kaya FX Legit or Scam?
Our review has revealed that Kaya FX definitely is a legit platform. There are several aspects of the platform that convinced us about that. We’ve reviewed many robots in the past, and we have certain standards that robot brokers have to meet for us to consider them as legitimate platforms. One of our main criteria for assessing whether a broker is reliable is to check if it makes efforts to protect users from the risks associated with crypto trading. Kaya FX certainly does that. The first thing we noticed is its transparency when it comes to risks. The broker is completely honest about the fact that crypto trading can lead to loss of investment funds. The official website also provides detailed information on deposit and withdrawal policies as well as privacy and acceptable use policies. The more information is made available to you, the more the broker shows it has nothing to hide.
Additionally, the broker website provides a “knowledge centre”, where you can access educational tools to improve and make the most out of your trading experience. It can also help to improve investment strategies and your knowledge about the world of crypto. A list of all the different account types is also made available, and you can have a look through all the advantages offered with each account upgrade.
We must stress though, that if you are a beginner or an inexperienced user, the way in which you have more chances to allegedly make profits is by trading on Kaya FX through Bitcoin Trader. If you are experienced, you might already know what you are doing in terms of trading strategy and market analysis to be able to make profitable investments. If you are not experienced enough though, it might be difficult to know what trades to place and you will probably end up losing money.
Before even signing up to the broker, you will be able to see all the instruments available to trade with on Kaya FX. There is a great variety of products you can choose from, including forex, CFDs, currency pairs, commodities, indices and stocks. The currency pairs available are EUR/USD, GBP/USD, NZD/USD, GBP/CAD amongst many others. The commodities include coffee, corn and wheat whilst the indices available are Nasdaq, Dow Jones and others. The most popular stocks on offer are Amazon, Apple, Coke, Disney, VISA and much more.
A good way to find out whether a robot broker is legit or not is to have a look at what trading platform it uses to support its trades. Two of the most transparent and well-reputed platforms available are WebTrader and MetaTrader4. 80% of the reliable brokers on the market use these two platforms for their ease of use and their reputation. We find the platforms to be very suitable for both beginners and experienced users and we consider it to be a very positive sign whenever a robot broker offers these platforms to support trades. Kaya FX does that and we were definitely positively impressed.
MetaTrader4, or MT4, was developed by MegaQuotes and it is the most popular of the two. Both beginners and professionals can benefit from it so much because it is very intuitive and traders can learn how to use it in minutes, but at the same time it offers complex tools such as indicators and chart types, which professionals can use to pursue more advanced trading strategies. MT4 can be downloaded on your desktop or you can download the app on your smart phone. Webtrader is another popular platform. It runs on browser so you simply need an internet connection and smart phone, tablet or laptop to be able to access it. Like MT4, data is updated in real-time and the platform is easy to comprehend and simple to use.
How to trade on Kaya FX through Bitcoin Trader (recommended)
How to sign up on Kaya FX directly (not recommended)
If you do not want to trade on Kaya FX through Bitcoin Trader, you can open an account on the robot broker directly but we must stress that we strongly advise against that. By trading on Kaya FX directly, you would be giving up significant advantages that you would have by trading on Kaya FX through Bitcoin Trader. Robot brokers are secure platforms to place trades on, but in no way they help you make money. The only software that can allegedly do that are auto trading robots and Bitcoin Trader in particular claims to have an accuracy of above 90%, meaning that out of 10 trades, at least 9 will be profitable. To function, automated robots like Bitcoin Trader connect to robot brokers like Kaya FX and place trades through the brokers. That is why it is possible for you to trade on Kaya FX through Bitcoin Trader. If you wish to do that, feel free to click here.
If you still want to trade on Kaya FX directly, you can go on the official website and sign up. On the top right side of the website, you will find a “sign up” button. If you click on it, a registration form will pop up requiring you to fill in your personal details. You will be asked to select your country of residence, to type in your first and last name, your email address and phone number. You will then have to create a new password, confirm it. You will finally have to accept the terms and conditions, confirm that you are over 18 years old, declare that you are not a US citizen/US tax resident. If you wish to do so, you can also subscribe to a newsletter and special promotions. At this point, you can deposit funds into your account and then start trading.
Kaya FX offers four different account types for you to choose from. The most basic account type is the Mini, followed by the Bronze, Silver and Gold. For the Mini account, you will have to deposit a minimum of $250 to be able to access the trading platform. The higher the upgrade, the higher the minimum deposit amount will be. We were unable retrieve this information for Kaya FX’s other account types, but normally, the other minimum deposits range from $2,500 to $50,000. The difference is usually so significant because with every account upgrade you have access to remarkable advantages that will increase your chances of making profits.
In general, all account types have some basic advantages. The Mini account offers MT4 and WebTrader as trading platforms. You will be able to get some basic training, a personal account manager, an expert advisor, fixed spreads, customer support, a leverage of up to 1:100, hedging, access to forex news, the resource and knowledge centres. These advantages are included in all account types. On top of these, the Bronze account offers access to webinars, while the silver allows you to get daily market alerts and one-on-one training. Gold account holders can also get a personal bonus policy and personal trading conditions.
The leverage offered on Kaya FX goes up to 1:200 but it varies depending on the asset you select and on your account type. The leverage offered on Mini and Bronze accounts goes up to 1:100 whilst Silver and Gold accounts offer a leverage of up to 1:200. Leverage is the debt a trader takes on towards the broker and uses it to buy an asset. In simple terms, a leverage of up to 1:200 means that for every $1 in your account, you can buy $200 worth of assets.
Commissions and Spreads
The broker website provides detailed information on the spreads available but we are unaware about whether or not commissions are present. For Mini accounts, spreads are fixed, but for all other account types they are floating. For the EUR/USD currency pair, the spread is 0.0003. Other fixed spreads are in place for GBP/USD, EUR/GBP, USD/JPY with 0.0004, 0.0004 and 0.03.
Deposits and Withdrawals
Depositing or withdrawing money on Kaya FX is very simple. The robot broker accepts several kinds of payment types, the most popular being credit or debit cards with VISA, MasterCard or Maestro circuits. You can also pay with bank transfer or with e-wallets such as Neteller, Skrill, Sofort, Stripe or Neosurf. If you wish to pay via bank transfer, we are aware that several currencies are accepted but we are unaware of what these are. The best thing to do would be to contact a member of staff and see if the currency you intend to pay in is accepted.
The official website does not mention anything about A Kaya FX app. We had a look on Google Play and App Store to see if we could find an app but we didn’t. However, there is a mobile app for MetaTrader4, so as long as you have an internet connection and you download that app, you will certainly be able to trade on-the-go.
Education and Resources
The Kaya FX website offers a sufficient number of education resources to help you through your trading experience. Even though you will not have access to eBooks, video tutorials or online courses, the website offers in-depth explanations of trading strategies that include technical and fundamental analysis. There is also a dictionary with definitions of all the technical terms you might not know. If you are new to the world of crypto, we definitely suggest having a look through those resources.
Looking through the website, we were unable to find any information on current bonuses or promotion available. However, we believe that the broker does offer bonuses periodically because upon registration, you have the option of signing up for a newsletter and to receive special offers and promotions. There is also a personalised bonus policy for gold account holders.
Customer support is available from 5AM to 10PM Monday to Friday. You can contact a member of staff via phone, email, live chat or by filling in a support form. You can call offices in one of 5 branches in several countries, including the UK and Denmark. The email address varies depending on the reason you are contacting staff, it can be for compliance, information or support. If you wish to fill in a support form instead, you will have to type in your first and last name, phone number, email address, subject of the message and of course the content of the message.
What makes Kaya FX unique?
More robots where you can access Kaya FX
You can trade on Kaya FX through several crypto robots other than Bitcoin Trader.