This review shows that Kana Capitals is a scam broker that is out to steal money from unsuspecting victims.
About Kana Capitals
Kana Capitals says to be the largest online Forex trading platform with more security and exceptional Forex market resources.
It boasts of smart tech trading using metatrader5 (MT5) platform, leverages up to 1:100, and spread as low as 0.5pip.
Assets available for trade include currency pairs, CFDs on metals and indices. Minimum deposit to start trade is $100.
Should one trade with Kana Capitals?
There is nothing to show that Kana Capitals can be trusted. It is virtually an anonymous website that is not licensed to provide financial service in any country.
Kana Capitals claim to be located in London, United Kingdom but provides no proof of the same.
If you are still wondering whether it would be a good idea to deposit your funds with Kana Capitals or not, better read the following lines.
- Aforementioned, Kana Capitals is unregulated as they should be regulated if they want to target customers on regulated markets like the European Union, including the UK.
- Unlicensed brokers like Kana Capitals do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing server slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.
- Bear in mind that unregulated brokers in general are completely uncountable for the way they handle your money, which makes any dealings with such entities extremely risky. Basically that is how people usually get scammed.
Kana Capitals claims to have headquarters in London, United kingdom but it is not true. As a matter of fact, all Forex brokers based in London must be regulated by Financial Conduct Authority (FCA) in UK as a financial services provider – something that Kana Capitals fails to do. We checked the FCA register and found out that no company with the name Kana Capitals exists. See below.
So, Kana Capitals is lying about its location in UK. It is not authorized or registered by the FCA to offer financial services in UK. That means, you are unlikely to get your money back if things go wrong.
Is Kana Capitals Safe?
Kana Capitals is considered not safe, as it is completely anonymous and not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC and the US CFTC.
You have no reason to trust a word a website like Kana Capitals might claim, including the authenticity of its purported corporate address, if you can not crosscheck the information by comparing it with the data in the registers of an official financial regulator, in this case the FCA in UK.
Kana Capitals is a scam that lies about everything including their physical location in London. The trading conditions might certainly seem attractive at first glance, but regrettably it is all fake.
All brokers based in UK should be duly licensed and authorized by the FCA, the British watchdog.
If a broker attempts to offer services on the British market without such a license, it is obviously doing so illegally.