Kawase.com Review

Never had any issue with withdrawal on Kawase but am a bit nervous now after reading some of the reviews. They have a really nice platform and unique business model that I really like.

I hope they continue good ethics in their trading practices.
(personal opinion)
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Theo

About 3 weeks ago I received a notification from Kawase (TopFX) that they terminate the business relationship with myself and my partner with immediate effect. Kawase accused me of "scalping"/ "abusive" trading techniques as soon as I actually made a decent return on some trades. They also accused me of "irregular or "abusive" trading during the BOC Rate Statement a few weeks ago. They went on to say that they are going to nullify ALL earnings I made on my account to date since I stated trading with them a few months ago (account opened end of June).

The trades were during a news event where the market was obviously volatile and it just happened that the movement of the market went about 250 pip in my favour. They never had an issue with my trading before I made decent gains on my account!

They quoted a section from their "Terms and Conditions", Clause 29.4. In their description, Scalping means "the situation where the Client opens too many positions at the same time and closes them in a very short time (for example up to three minutes) or buying at Bid price and selling at Ask price, so as to gain the Bid/Ask difference".

"Too many positions"?: I ONLY had 5 positions open the whole day. How can they justify 5 trades being too many? And prior to that I did not have many positions.

"buying at Bid price and selling at Ask price"?: On the last trades I made about 250 pips per pip on EACH order and on CAD pair, so its impossible for Kawase to justify "trading within spread".

I see by reading the reviews that this has also happened to other clients of theirs.

Another "regulated" broker that acts like they make the rules.
They removed all my trades giving some vague justifications like "possible breach of terms". When pressed for explanation they said that I "took advantage of volatility" and opened "too many trades". I actually had 7 only. Now anybody with any common sense would think 7 is reasonable. As for taking advantage of volatility isn't that the whole purpose of trading - if there were no moves how do you make anything?
Anyway these guys are the scammers TopFX posing behind another name.
It is quite notable how they phrase their messages. Here is a notable example after I filed my complaint to their compliance:
"The Company will review and investigate the complaint and provide you with our final conclusion following our internal complaint policy and according to the law."
Really? According to the law? It boggles the mind they have to specify that. But it is also quite striking they do not specify which law that is.
In any case I noticed on forums another 5 users complaining about the same thing.
We are getting together and possibly filing class action lawsuit against these scammers.

Great platform with very low spreads. Indices, Shares, Currencies , metals, all in one platform,

I use more my iphone to trade , tested the app ,and i can say it's the best app i ever used .

Review Moderation Team Note: 4 Star rating removed.

This review did not come from Australia. It is one of 2 reviews left from the same location in Cyprus used by Kawase's representative.

Per FPA policy, the rating on this review has been set to Zero stars.

This is a great platform that’s easy to use. I also contacted support for help and they were really quick to respond. I like the language options and different timeframes.

Review Moderation Team Note: 5 Star rating removed.

This review did not come from London. It is one of 2 reviews left from the same location in Cyprus used by Kawase's representative.

Per FPA policy, the rating on this review has been set to Zero stars.

The FPA does not appreciate review spammers.