Kana Capitals Review from buzai232's blog

Kana Capitals Review

Kana Capitals tries to present itself as highly successful forex and CFD brokerage. But this website shows all the symptoms of a scam – being virtually anonymous, and lacking proper legal documentation such as Terms and Conditions and Client Agreement.To get more news about kana capitals review, you can visit wikifx.com official website.

Read the full review below to find out more about Kana Capitals – including some tips on what to do if you have already deposited with this broker.

Kana Capitals claims to be based in London, UK, but we doubt this is really the case. If they were really headquartered there, they would have been licensed by the local Financial Conduct Authority (FCA), and they clearly don’t hold such a license.

And not only that – Kana Capitals is virtually anonymous. There is no company name mentioned anywhere on the website, nor are potential clients presented with any legal documents such as Terms and Conditions. In other words, the only way for anyone to find this broker is when it reaches out to you first – and this is usually done via cold calls, social media, or even dating apps. So, if you get contacted by a representative of Kana Capitals, and you are offered seemingly lucrative trading or investing opportunities, you have every reason to be suspicious.

We remind our readers that only companies holding licenses with the FCA or temporary permissions based on their authorization in an EU or EEA Member State are allowed to offer financial services in the UK. And these brokers are required to meet a set of strict requirements in order to get such licenses.

For example, legit British brokers are obliged to keep clients’ funds in segregated accounts so that no commingling takes place, to provide negative balance to all their customers, report daily on open and closed trades, and so on. Furthermore, all FCA-licensed brokers should be members of the Financial Services Compensation Scheme (FSCS), which may pay up compensations of up to £85,000 per client in the event a licensed entity goes under and files for bankruptcy.
The broker appears to offer trading on MetaTrader5 – perhaps the best platform in the industry. Unfortunately, it isn’t directly available for download from the website and cannot be accessed even after sign-up – you have to verify your identity first.

Of course, we didn’t do that because we don’t know who are the people running Kana Capitals and what they are up to – they might be running all kinds of scams, including identity theft. It’s always preferable to stick with legit brokers who are transparent and reliable. That said, there are many such brokers supporting the MT5
Dangerous leverage ratios provided
Kana Capitals advertises leverage as high as 1:500, and such ratios are banned in most jurisdictions because of investor protection concerns. For example, the maximum leverage allowed in all EU Member States and in the UK is 1:30.

So, If you stumble upon a broker that says to be based in the UK or the EU and provides leverage ratios higher than 1:30, you may rest assured that this company is unregulated. There is no need to look it up in the registries of the financial regulators.

Recovering funds deposited with Kana Capitals
In case you are reading this review after having deposited with this broker, you are probably wondering whether you can somehow get your money back. Probably Kana Capitals has denied your withdrawal request or is delaying it for no reason – both of these scenarios are quite likely with an anonymous unregulated broker.

Scam brokers usually find different excuses for this – they might ask for additional personal information with the pretext of adhering to Anti-Money Laundering (AML) rules or say that you haven’t met some turnover requirement linked to a bonus. Whichever the case, you won’t be allowed to withdraw a single dime.

Well, in this case, the chances to restore your funds are best if you have deposited them with a credit card like Visa or MasterCard – because you can file for chargeback within 540 days from the date of the transaction. Fortunately, Kana Capitals appears to accept such cards, so you might be lucky – file for a chargeback ASAP.