Caya Review

Caya Capital Markets is a new broker providing online trading in forex, stocks, oil futures, and metals. They are based in New Zealand and London, with affiliates in Dubai, Amman, East Europe, Thailand, South Africa, and South America.

This broker offers trading with a minimum deposit of $500, and leverage up to 1:400, utilizing their web-based or award winning downloadable trading platform. Caya comes recommended, even though they are brand new to the online broker business.

Caya does offer a wide range of trading opportunities on their web-based platform as well as on their downloadable trading platform, including trading 30 currency pairs. The web-based trading platform is very similar to most web-based platforms, providing limits, stop loss orders, but no trailing stops.

With their “Freeze rate” button Caya offers no rate slippage on trade entries, as the trader is given a frozen rate for about 5 seconds to decide to enter that trade at that rate, so no price requoting. Unfortunately, the charting abilities are rudimentary at best with this platform. However, Caya’s downloadable trading platform, CayaBank Trader, has all the features that a trader could want, plus a fantastic charting package included.

The downside is that Caya does not currently offer a price feed for mt4 or other professional charting packaging. Caya is not a dealing desk broker, they do not take the other side of their clients trades. They maintain that their liquidity partners are GFTforex and Saxobank, with a possibility of adding ETXcapital.

They also do not charge commission, only taking profit from the spread, which can be variable during high volatility in the markets. Live accounts can be opened within 2 days and they accept account deposits via bank transfer or major credit card. A minimum of $500 deposit allows for mini account trading and typical industry-wide spreads, but with deposits of $10,000 or higher traders can lessen the spread to 3 or less pips.

Trading account withdrawals are not restricted in any way, with no fees for withdrawals, and can take from 1 to 3 days to process. Their customer service is slow, but they do eventually respond via email. Technical issues can be remedied by chat from their website quickly.

This broker receives 4 stars and comes recommended with this caveat: Caya is brand new to the online broker world. With time they will prove they can consistently provide all the features they currently offer.