KayaFX.com Review

Updated: Apr 13, 2020
0.948 · 25 REVIEWS
Is this your company?
November 2018:  There is an FPA Traders Court guilty vote against this company.  The FPA recommends a high level of caution dealing with KayaFx unless this issue can be resolved.
March 2018:  The UK FCA has issued an unauthorized firm warning against KayaFX.  CLICK HERE to verify.
Related sites include NovaTrades.com

Website is down. Company seems to be out of business.

About KayaFX.com

KayaFX is a forex broker. Kaya FX offers the MetaTrader 4 and Mobile forex online trading top platforms. KayaFX.com offers over 50 forex pairs, indices, stocks, gold, silver,commodities and CFDs for your personal investment and trading options.


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0.948 · 25 REVIEWS
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Consumer Reviews

Cape town, South Africa,
Mar 5, 2019,
Registered user

Cannot contact Kayafx Joseph Mathews doesn't answer my withdrawal application.

Kayafx did not fulfill there promises to trade with my capital they showed little interest in trading at first showed signs of trading then disappeared can't contact Joseph Mathews no reply can't withdrawal from my account, what has happened to my capital. Can someone help.
england, United Kingdom,
Jan 23, 2019,
Registered user

new name same scam

KAYA is still active and stealing from there clients check the new name behind KAYA FX
KayaFX is owned and operated by GammaTech Services OÜ, which is located at; 14247106, Roosikrantsi 2-K 284, Tallinn, Harju Maakond, 10119 Estonia.

now they use this address but im sure it is just another mailbox.

KayaFX is owned and operated by AlphaTec LTD, Mazars House, Gelderd Road, Leeds, England, LS27 7JN.

they also changed the name of the company behind KONTO FX both staring as GammaTech Services now they use
KontoFX is owned by NTMT Transformatic Markets OU Harju maakond, Tallinn, Kesklinna linnaosa, Parda tn 4, 10151 and operated from Northside Business Centres, 2nd and 4th floor, BC91 Office building, Váci út 91, Budapest 1139, Hungary.

but be sure it is the same scam with only with a new name.

Jul 27, 2018 - 1 Star If you invested with kaya and now searching the internet be 100% sure that they are a big scam your account makes profits long as they think you invest more but they are not withdrawable and existing only on their faked page. the comments on some pages tell always about nice profit but there just made up to catch more people who are thinking its a good investment. the Scam brokers there use names like Philip Schmidt John de Smit or Frank Hayes and are well-trained salesmen who even convince skeptical people to forget any care about investing money, even pushing people to get a loan to invest more and join the next event that gonna make them rich.
Mildred Masuha,
Pretoria, South Africa,
Jan 8, 2019,

My withdrawal of R5000 was refused and I lost all my money now.

I deposited 250eur in June 2018,which was R4000 in Rands, the was an impressive improvement in few days, 2 months later I had a car accident and needed money to pay my insurance access, Suddenly I was been send from Pilar to post, they cut the live chats and got harassed from 1 to the other, until they told me I will forever be poor its their JOB to help me with withdrawal. I just want my money back!
Cape Town, South Africa,
Oct 23, 2018,
Registered user

Never trust Kaya fx

Nothing but a bunch of thieves,been trying to get my money out for 6 months and now they completely ignore me,what can I do.
Oct 19, 2018,
Registered user

New owner of KayaFX.com

Issue escalated to Traders Court Destiny'sChild vs Kayafx.com | GUILTY
This is to inform that according to KayaFX's website the company is no longer owned by GammaTech Services OÜ but new by:

AlphaTec LTD., Mazars House, Gelderd Road, LEEDS, England LS27 7JN

On the starting page, scroll down to the dark bar (PS: the dark bar is characteristic !)

Oct 1, 2018 - 1 Star I have invested 689.000 Euros and my account showed a total equity of 1.85Mio at the end of June 2018. I asked to withdraw part of the profit what got ignored and rejected. On 13 August a third of the profit got burned down by hundreds of negativ trades. My own withdraw requests have been ignored too. I made a recall through my bank for the last transfer and then was asked to cancel it by my broker James Dorn Zitzelsberger, followed by the headbroker Martin Roth and the company's CEO David Berg. Last asked me to cancel under the threat to freeze the account and that I would never see my invested money again. Since 29 August 2018 I cannot login the account anymore. It is the only time they did what they promised!!!!
I highly recommend everybody involved with KayaFX to copy each and every evidence that is of importance.

More. Community discussion of this issue >>

Dublin, Ireland,
Sep 26, 2018,

Kayafx scammers

Kayafx what a load of f*****s 250 euro gone. Like ao many reviews already they tried to get me to put more in then ignored my withdrawal requests then used my funds on dodgy trades until nothing was left . Then blocked my account because i sent a ton of messages and 1 night i submitted 1000 withdrawal requests . A bunch of liars and scammers someone should shut these down .i contacted my bank in case they try take money from me .i recommend doing this im gonna set up a facebook page or youtube channel.
Sep 13, 2018,
Registered user


I've also been scamed by this band.
3250 eur than gone with the wind
Aug 19, 2018,
Registered user

I also fell for scammers KayaFX. They have a five-figure amount from me and I can't withdraw money. Now they make fictitious trades and burn the money. But the trading on the account is only a fake and fully nonsense. That's their usual trick. But they will get a lot of trouble with me. Kayafx is blacklisted by the FCA and a proven scam.

Aug 8, 2018 - 1 Star Everything was alright in the beginning. I started with an investment of 250 €, attracted by a newspaper article on the popular German TV show called "Cave of the Lions". In England the show is called Dragons' Den, in Australia Shark Tank. Today I know that the article was just a forgery of KAYAFX to bait people. The article said that it had managed to secure a limited number of trading venues in an online trading house. This is also suitable for people without experience. I got in and did (unfortunately).

Profits rises – mistrust grows
As profits soared, I was ready to invest more. After a short time I was at a good five-digit sum. All seems good, bit I was disturbed that I was persuaded by the online brokers to bigger an bigger invests. In addition they often asked If I do not know other people who wanted to invest their money with trading.
Special events
They have urged me to invest in a special, great event for more profit. „Best event ever,“ they said and actually only brokers reserved. It seemed to be really successful, the supposed profits were high. But all in all, it was too much. I became more suspicious. I researched deeper on the internet about Kayafx and the results were alarming. I decided to end the collaboration as soon as possible.
Withdraw money impossible

As soon as you want to withdraw money, the problem starts. They are trying to delay the payout date with flimsy justifications. If then the payday is, - for me it was July 27, 2018, nothing happens. Then they just keep trading on the account
- but you realize that they themselves are manipulating the sum. It is said that so much happens on the market that profits fall. It is fully nonsens.

Andrey Borgov and Andy Nicolas
... were my contact persons. Both speak English, Andrey with a slight accent. As long as things are going well, they are very friendly. That changes abruptly when you reclaim money. You get no money or only a small part of the sum.

Don't trust people from Kayafx!
Jochen Söldner,
Crailsheim, Germany,
Aug 15, 2018,

Betrüger und Diebe sind das

Do not invest in these brokers!
These are the biggest scammers and rip-offs!

My message to kayafx:
Mr. Bauer,
Her business attitude amazes me a lot!
Why are trades still running despite a payout request?
With an account value of € 339 I have on 24.07.18 the payment of € 300
I was confirmed this and a processing time of 5 working days confirmed.
I have not received my money until today!
However, as of August 10, my money was further speculated.
And strangely, only loss is generated.
A bottomless impudence is that after our phone call from yesterday
new trades were called which generated a total loss of € 129.
How can that be, we have clearly agreed by phone that no further trades should be generated!
I expect the promised payout of € 300 immediately!
The losses which were generated after the payment request are at their expense!
Jochen Söldner

Investieren Sie blos nicht in diese Broker!
Das sind die größten Betrüger und abzocker!

Meine Nachricht an kayafx:
Herr Bauer,
ihr Geschäftsgebaren verwundert mich doch sehr!
Warum werden trotz Auszahlungsanforderung weiterhin Trades ausgeführt?
Bei einem Kontowert von € 339 habe ich am 24.07.18 die Auszahlung von € 300
Mir wurde dies bestätigt und eine Bearbeitungszeit von 5 Werktagen bestätigt.
Mein Geld habe ich bis heute nicht erhalten!
Jedoch wurde ab 10. August mit meinem Geld weiter spekuliert.
Und seltsamer Weise nur noch Verlust generiert.
Ein bodenlose Frechheit ist, dass nach unserem Telefonat von Gestern
erneut neue Trades aufgerufen wurden welche dann insgesamt einen Verlust von € 129 generiert haben.
Wie kann das sein, wir haben telefonisch klar abgesprochen dass keine weiteren Trades erzeugt werden sollen!
Ich erwarte die zugesagte Auszahlung von € 300 umgehend!
Die Verluste welche nach der Auszahlungsanforderung erzeugt wurde gehen zu ihren Lasten!
Jochen Söldner
Dublin, Ireland,
Aug 11, 2018,

Kayafx scam

Kayafx. Im trying to withdraw from them 3 weeks . Ido not want to deposit more hahaha i can even get my initial 250 back . This company is a joke
mallorca, Spain,
Aug 11, 2018,
Registered user

Kaya FX Scam exposed

Kaya FX scam exposed here the video this video shows how they always find new excuses to blame the customer why the account crashed after the withdraw request they even admit that they stopped working after you don't want to invest further this company is a complete scam that doesn't even trade they steal your money soon as you transfer it its a scam beware!

hear the video from the english conversation https://www.youtube.com/watch?v=bVci39UwonY&feature=youtu.be

and here the German one https://www.youtube.com/watch?v=bVci39UwonY

May 22, 2018 - 1 Star Now almost 2 weeks after the last call from Kaya FX I didn't hear anything from Philipp, Brian, the support or anybody. I'm still waiting for my money but nothing so far, maybe they are all busy to set up Dojo FX and need to make up new names and stories for their brokers.

I will keep you all up to date if something happens and if I get my money back from Kaya FX / GammaTech.

May 16, 2018 - 1 Star Last week I was called by Brian, another guy from Kayafx. He tried to blackmail me, I should cancel the recall from my Bank, otherwise I do not get any money back. Philipp Schmidt, who was my broker, interrupted the call several times and defended all what he had done with my money ( lost of nearly 18.000€ ). They talked to me 1h, 30 min.
with no result. They persist that it was just bad trades and they didnt do anything wrong. It was all my fault, because I didnt want to invest more.
When I wanted to withdraw my profit, they scammed me the same way the other clients were scammed: they burned my account. These people stole my money and they are still trying to find reasons, that it was my own fault. Philip still wanted me to let him work as my broker, but after what had happenrd that is a effrontery.

Apr 10, 2018 - 1 Star I already made a complaint at the police. If all victims of their scam do the same, there must be a few hundred complains, so the authorities have to react, before they disappear with all our money.

Apr 9, 2018 - 1 Star Please publish the name of your broker and try to describe him, e.g. something remarkable about him, did he have an accent, … My broker, Philipp Schmidt, talked to me in German with a Turkish or Arabian accent.

Mar 31, 2018 - 1 Star Kayafx is a big scam. First you get a call. In my case it was Philipp Schmidt, who is the senior account manager and head of the German desk. He introduced himself: 42 years old, divorced. His mother is a German, his father is Arabian. He tried to get my confidence. Then a promised me high profit, but he needs more money to start.
At the end of the call he had 2.000 Euros from my credit card. Some days later he wanted me to install anydesk, so he could lock into my PC and do all necessary steps without me. I did not do that. - After the first week I had really made much profit. Philipp said I should transfer 20.000€ for an event. that was 100% safe. I transferred 16.000€. At the same time I filled a withdraw request, to take some money back, but I did not get this money. I filled a second, a third, a fourth
request. Without any success. I complained. Philipp talked to me in a never ending long call, but there was no explanation for the missing transfer. Instead he wanted 30.000€, and he was pushing me to transfer it fast. I did not transfer more money, so he did not make a single trade for a week. He did not answer the question why he didnt do his job as a brooker and let my money get more, instead of always asking me to invest more. A few days later when he recognized I really didn t transfer the 30.000€ he placed negative trades and started to loose my money. I told him, his colleague, the support, everyone to stop trading, but they ignored it. They even continued to place trades the next day. They ignored my order to stop trading, they ignored my withdraw request, when I tried to save the rest of the money. They stopped when my account was at Minus 2.700€.
And this is not the end. Although I lost 18.000€, Philipp wants me to trust him and transfer money.-
If you will be contacted by Kaya and they tell you that the people here are writing bad reviews because they are to stupid to do trading right or cant handle a normal loss on the market, or if you have any doubts that kaya is not a scam, please contact me. Do not invest a single penny.

Mar 27, 2018 - 1 Star KayaFx Philip Schmidt Scam Broker!
They do not pay any money back. I started with 250€. At once I got a call from Philipp Schmidt, the head of German counter to add several thousands more. I added 1.750€. With these 2.000€ I wanted to test the company. But Philipp called me each day several times. He talked and talked without an end. He talked about events that are bringing much money, e g. Fang. But I could not join with only 2.000€. At last he had 18.000€. I wanted to have the profit: 5.000 after the first week, 3.000 after some more days, ...Philipp sent me confirmations about the withdraw requests, but I never got a penny. I was alerted and told Philipp not to place any more trades, but he ignored my order. When I stopped to transfer more money Philipp burned my account. Every single trade was negative. I saw it on the PC and sent him a message to stop trading, but he continued and even continued the next day until there were Minus 2.700€. on my account. Since that time I did not get any call or message from he. He did never answer my mails.
Shereez Sallie,
Johannesburg, South Africa,
Aug 1, 2018,

Not allowing me to withdraw

I have over 14000 euros in my account and they aren't allowing me to withdraw. I'm not getting any joy. I've contacted them in every way and several times.
South Africa,
Jul 24, 2018,
Registered user

I joined Kayafx and deposited 250€ I requested withdrawal 5days ago but I still haven't received it . I contacted live support after I swore them they've blocked me from the chats
South Africa, South Africa,
May 7, 2018,
Registered user

DO NOT INVEST WITH KAYAFX they are a big scam….

At KayaFX… I invested 250 Euro and I got a call from Jacob Greenber asking me to deposit more money and when I refused he dropped the call. I then got another call from Chris Anderson telling me about some big event and when I said I wanted my money back he dropped the call. I haven’t received my 250 Euro back. DO NOT INVEST WITH KAYAFX they are a big scam….
United Kingdom,
May 7, 2018,
Registered user

Unauthorised, unregulated scamming account manager's

If you are in any doubt. Please see the FCA website, they are now recognising KayaFX as the scam it is.


Jan 13, 2018 - 1 Star Unethical and immoral practices. Extremely aggressive selling techniques and practices. They push and push for more and more money. Profits initially look good, but the minute you ask about withdrawing the money they conveniently lose all your money. Scam account managers. Absolutely shocking.
South Africa,
May 5, 2018,
Registered user

These guys, DEAN ERMAN and BRIAN THOMPSON took 6500 euro and then refused to refund it. They opened a series of unauthorised trades for about 10 - 20 second each and then closed them. If someone knows where they are, let me know...........I really want to go there because they are very cocky on the phone but I think they will shit themselves when you arrive at their door. They are cowards and thieves. NOTHING LESS!!!
london, United Kingdom,
Apr 30, 2018,
Registered user

kaya fx = rax media sofia Bulgaria they are not in the uk or Estonia !!!!!!!
few month ago I made an investment with kaya fx.
when I tried to place a wd they simply got into my my account, change my password and lost everything without my permission .
I found out that kaya fx is not in the uk!! the company real name is rax media 
and they are working in Sofia Bulgaria 
please help me to get my money back they simply stole my money .
Apr 6, 2018,

Nie wieder

Mir geht es wie in den vielen Beiträgen auch. Mich rief eine Marietten Novak an und erklärte mir, dass Sie nun meine Manager in sei und ich ihr voll vertrauen könne. Nachdem ich 250 Euro überwiesen hatte sollte ich 2000 Euro überweisen, damit sich ein Gewinn überhaupt lohnt. Anfangs stiegen die Gewinne wirklich um 20 Prozent. Danach erhielt ich von ihr Anfang Februar einen Anruf, ich sollte 10 000 Euro investieren. Das lehnte ich ab und von da an war Marietten Novak für mich nicht mehr erreichbar. Mein Konto blieb auf diesem Stand. Am 3.2.18 verfügte ich die Auszahlung von meinem Konto. Nichts geschah. Es erfolgte ein Anruf von einem Hughes, den ich nicht verstand. Am 5.3.18 verfügte ich nochmals die Auszahlung. Bis heute, trotz vieler Mahnungen, erfolgt nichts. Seit dem wird jedoch das Geld auf meinem Konto immer weniger, obwohl gar kein Handel erfolgt. Also alles Betrug. Man sollte in der Öffentlichkeit mehr vor Kayafx und anderen Tradern warnen.

I am as in the many contributions also. A Mariette called me Novak and told me that she was now my manager and that I could fully trust her. After I had transferred 250 euros I should transfer 2000 euros, so that a profit is worthwhile. At the beginning, profits actually increased by 20 percent. Then I got a call from her at the beginning of February, I was supposed to invest 10 000 euros. I refused and from then on Marietten Novak was no longer available for me. My account stayed on this stand. On 3.2.18 I ordered the withdrawal of my account. Nothing happened. There was a call from a Hughes I did not understand. On 5.3.18 I ordered the payout again. To this day, despite many reminders, nothing happens. Since then, however, the money in my account is less and less, even though no trading takes place. So all scams.You should warn the public more about Kayafx and other traders.

Zürich, Switzerland,
Mar 27, 2018,
Registered user

Stephan Peyer

they don't pay me out. 2800€
waiting more than one month
withadrawal was allowed.
no answer
acount inactiv and amount zero
thank you!
United Kingdom,
Mar 25, 2018,

Absolutely rubbish and would rather just have my money back which could of gone on something worth my time.

If your thinking of trading with Kaya Fx, don’t waste your time or your hard earned money, they are fraudsters and have no morales.
I deposited £250 on the potential prospect of earning some extra money.
I had no communication from them, all they did was constantly phone me at inconvenient times and nothing but a barrage of harassment for me to take out a loan to boost their credentials (which they don’t have).

I requested a refund and I received an email informing me that my request would be met within 7 days.

This was not completely true and I have been back and forth trying to get my refund.

I’m so frustrated as I’m at a breaking point with this company and now have violent tendencies in my mind on what I would do and I don’t want to think like that.

But they were quick to take my money and now they don’t want to honour my request.
Marlon London trade, keep your money.

The authorities in Estonia need to take control of their company and refund everyone who was mislead by this sham of trading company and have their license revoked.
Lancashire, United Kingdom,
Mar 20, 2018,
Registered user

Definite scam. Avoid and spread the word as widely as possible.

Invested initial £250 which seemed to do quite well. Was the persuaded to invest further £5000 on Risk Free Test Drive. First few days showed good profits they then aggressively pursued a further £500 which I refused to give. I then asked to cease trading and submitted a fund withdrawal request. Told It would take 7 days. £1900 the disappeared and my emails are not being received, Chat line won't respond. Account Manager won't respond. Now fearing the worst and that I will lose everything.
If anyone has suggestions please advise.
South Africa,
Mar 20, 2018,
Registered user

KAYAFX keeps urging you to put in more and more money then loses it for you and refuses to pay out.

KAYAFX is a scam! I invested 50000EU and they are trading at a loss for me daily. When I want to withdraw any money they have 100 rude excuses why I can not do so. Do NOT deal with John De Schmit (Or John De Smith as he is also known,) and his boss Dean. They are liers. In the beginning they pay out little bits here and there and urge you to put in more. Then suddenly everything crashes and they refuse any pay outs.
Zürich , Switzerland,
Mar 7, 2018,
Registered user

Lost all my money?!

I have quite a lot of money with kayafx. In the beginning they did a great job and I had daily contact with the responsible manager. But today my mails keep coming back and the homepage is not online anymore. What can I do??
Di Gordon,
BOP, New Zealand,
Mar 1, 2018,

I am really concerned that his company can be trading

My partner and I invested quite a large some of moneyin the first instance. They then requested a neal deal with a 100% guarantee that in 4 weeks the money would be prepaid in full end 25th Feb 2018, I even reminded the account manager of the date. It is now 1 march and after 2 emails I got a response to say our accoount manager was on sick leave. I smelt a 'rat' so went on live chat with a Jessica and she said she would pass message on. 24 hours later no response. Now can't get onto live chat. So emailed support at kayfx but nor response. I was told my account manager would be in touch next week. At this stage when I bring up my account the money is still there. I am not sure what to do next- wait til early next week or start the withdrawal process now.
United Kingdom,
Feb 2, 2018,
Registered user

do not use kaya fx

i do not think kaya fx is a scam company at the moment but i would not recommend them to anyone i too made a withdrawal than for some reason i was put on to the auto trading and lost the lot when i Finley got to speak to some one was told that is how trading will go even though i did not ask for them to trade on my behalf they are on the verge off being a scam company, if you like to keep your money do not use these people and yes at some stage they will ask for more money and check out the fca they are not on it but they are known to them beware you have be warned!!