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Contract reading

What AYA Markets legally published, but does not want you to read

Every clause below is published by AYA Markets itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: AYA Markets (Comoros) Ltd

sole discretionhidden feemarketing gapdeemed acceptancekyc freezeprofit voidingwithdrawalscomplaint windowconclusive evidenceforum waiver

AYA Markets prints a 0% Commission Promise on its deposit page. Its customer agreement lets it take 3% of a withdrawal instead. The same contract lets AYA cancel your profits on suspicion alone. You get 5 working days to complain, and AYA can refuse the complaint outright.

Back to AYA Markets

Contract risk

Money at risk
8.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
7
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
19
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
4
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
6

How the 19 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical7
Warning10
Notice2

section 30 of 54is where the deepest clause sits, 56% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

3 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical3%Fee you were not shown. Jump to the clause this comes from.A 0% commission promise and a 3% withdrawal chargeCritical30 daysWithdrawal limit. Jump to the clause this comes from.Withdrawals advertised in 24 hours, suspendable for 30 daysCritical5 working daysTime to complain. Jump to the clause this comes from.Five working days to complain, and AYA can refuse anyway$5Fee on an unused account. Jump to the clause this comes from.Five dollars a month, then closure, after six months idle

What the documents say

19 clauses worth knowing about, worst first, each quoted from AYA Markets's own files

01

AYA Markets only has to suspect fraud, manipulation or swap arbitrage to cancel your profits. The clause lets it close your open positions, take a penalty equal to your profit, and annul what you made. It reaches back to trades you already closed.

Why this matters

Your realised profit is not safe once it is in the account. AYA decides alone whether your trading looked wrong, and nothing in the contract makes it show you evidence first.

Exhibit 1CriticalHarder than usual

In the event where the Company suspects any fraud, manipulation, swap-arbitrage or other forms of deceitful or fraudulent activity in a Client's account or accounts with the Company or otherwise related or connected to the any and/or all Transactions, then the Company reserves the right to decide, at its sole discretion, to close all open positions in the Client's Trading Account and deduct or add a penalty (equivalent to the swap and/or any profit amount) for all transactions currently and/or previously made in the account and/or annul all profits made as a result and decline from accepting any further requests from the Client to be exempted from any swaps and/or terminate all agreements with the Client.
Clause Use of the Trading Platform and Safety in Customer Agreement
Read from the broker's site on Open the reference
Our own capture of ayamarkets.com, taken on Sep 15, 2026Profits cancelled on suspicion alone, at AYA's sole discretion (clause Use of the Trading Platform and Safety)Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must treat clients fairly and must be able to justify cancelling an executed trade. This contract makes AYA's own suspicion the whole test.

AYA Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 7One clause takes your profit on suspicion and the other makes any breach of any term enough to label that profit illicit.
  • Worse together with Exhibit 4AYA can cancel the profit, and the same contract gives you 5 working days to object.
02

The deposit page promises you 0% commission on every deposit and withdrawal, whatever the method and whatever the amount. The customer agreement lets AYA Markets charge you 3% of the total withdrawal instead, if you withdraw without trading since your last deposit.

Why this matters

Deposit $10,000, change your mind, and $300 can be taken out of the money coming back to you. The only trigger is not having traded, which is what a cautious first time client does.

Exhibit 2CriticalHarder than usual3%

In case the Client performs a withdrawal request without any trading activity from the last deposit made or if any other form of abuse is found the Company reserves the right to:
Clause Commissions, Charges and Costs in Customer Agreement
Read from the broker's site on Open the reference
Our own capture of ayamarkets.com, taken on Sep 15, 2026The claim, on Lead paragraph under the Deposit & Withdrawal page headingVisit this page on the broker's siteDownload the full size image file
Our own capture of ayamarkets.com, taken on Sep 15, 2026What the contract says, clause Commissions, Charges and CostsVisit this page on the broker's siteDownload the full size image file

What it costsA $10,000 deposit withdrawn without trading can be charged 3%. That is $300, and $9,700 comes back.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose all costs and charges to a retail client before they trade, and their marketing must not mislead. This contract keeps the 3% charge in the customer agreement while the deposit page promises 0%.

AYA Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 10On top of the 3%, every transfer cost and any currency loss comes out of the same withdrawal.
03

AYA Markets advertises that withdrawal requests are processed within 24 hours on business days. Its AML policy lets AYA suspend your withdrawal for up to 30 days for verification, and that clause is not in the customer agreement or on the withdrawal page.

Why this matters

You can be a month without your money after being told it takes a day. The suspension needs no reason beyond verification, and nothing says AYA must tell you it has started.

Exhibit 3CriticalHarder than usual30 days

If no trading activity has occurred between a customer's deposit and withdrawal request, the withdrawal will only be processed to the account from which the deposit was made. Otherwise, the Company reserves the right to suspend withdrawals for up to 30 days from the date of the withdrawal request for verification purposes.
Clause Payments Policy in AML Policy
Read from the broker's site on Open the reference
Our own capture of ayamarkets.com, taken on Sep 15, 2026The claim, on Fast Withdrawals feature card on the Deposit & Withdrawal pageVisit this page on the broker's siteDownload the full size image file
Our own capture of ayamarkets.com, taken on Sep 15, 2026What the contract says, clause Payments PolicyVisit this page on the broker's siteDownload the full size image file
Our own capture of ayamarkets.com, taken on Sep 15, 2026Withdrawals advertised in 24 hours, suspendable for 30 days (clause Payments Policy)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 30 of 54 in the AML Policy, 56% of the way through.

Set against a regulated standard: FCA (UK), ASIC (Australia)

Firms licensed by the FCA and ASIC must handle a retail client's withdrawal promptly and must not advertise a timescale they do not apply. Here the 24 hour promise and the 30 day suspension sit in different places on the same site.

AYA Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Only applies after Exhibit 16The hold is a verification hold, so the document demands that trigger it decide how long you wait.
04

You have 5 working days after something goes wrong to lodge a complaint with AYA Markets. The clock starts when the event happens, not when you notice it. AYA also holds what it calls an absolute right to refuse your complaint.

Why this matters

Miss the fifth working day and you have no route left inside the contract. AYA picks the method of resolving the dispute, and no independent scheme is named in its four documents.

Exhibit 4CriticalHarder than usual5 working days

If any conflict situation arises when the Client reasonably believes that the Company as a result of any action or failure to act has breached one or more of the terms of the Operative Agreements, the Client has the right to lodge a complaint with the Company within 5 (Five) working days after the occurrence of the event.
Clause The Procedure for Dispute Resolution in Customer Agreement
Read from the broker's site on Open the reference
Our own capture of ayamarkets.com, taken on Sep 15, 2026Five working days to complain, and AYA can refuse anyway (clause The Procedure for Dispute Resolution)Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must give retail clients months rather than days to complain, and must point them to an independent ombudsman or compensation scheme. This contract gives 5 working days and names no outside body.

AYA Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 13The short deadline matters more because AYA's own server records are the only evidence the contract will accept.
  • Worse together with Exhibit 11Internal messages are deleted after three days, so the notice that starts your five day clock can be gone before you read it.
05

AYA Markets sells membership tiers built around the ATT Persian Trading Team, with weekly live sessions and personal contact five days a week. Its contract says information in any language other than English does not bind AYA and has no legal effect.

Why this matters

Everything said to you in Persian by the team you paid to reach sits outside the contract. If a session or a message turns out to be wrong, AYA has already written that it carries no responsibility for it.

Exhibit 5CriticalRarely seen

The Client accepts and understands that the Company's official language is the English language and the Client should always read and refer to the main Website for all information and disclosures about the Company and its activities. Translation or information provided in languages other than English in the Company's local websites is for informational purposes only and do not bind the Company or have any legal effect whatsoever, the Company having no responsibility or liability regarding the correctness of the information therein.
Clause Miscellaneous in Customer Agreement
Read from the broker's site on Open the reference
Our own capture of ayamarkets.com, taken on Sep 15, 2026The claim, on Gold and Platinum tier service list on the AYA Membership pageVisit this page on the broker's siteDownload the full size image file
Our own capture of ayamarkets.com, taken on Sep 15, 2026What the contract says, clause MiscellaneousVisit this page on the broker's siteDownload the full size image file
Our own capture of ayamarkets.com, taken on Sep 15, 2026Persian language sales team, English only contract (clause Miscellaneous)Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must give retail clients information in a language they can act on, and must stand behind what they tell them. This contract sells guidance in Persian and then says non English information has no legal effect.

AYA Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingBrokers commonly disclaim translated web pages. Selling a paid advisory relationship delivered in one language, while the contract says only English binds the firm, puts the service the client bought outside the agreement entirely.

  • Worse together with Exhibit 17The guidance you pay for comes from the firm that is also the counterparty to your trades.
06

The account types page marks Negative Balance Protection as "Yes" for every AYA Markets account. Negative balance protection means you cannot lose more than you put in. The risk disclosure says the opposite: you could sustain a loss even more than your initial investment.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

If a gap in the market takes your account below zero, which of those two AYA follows decides whether you owe it money. The contract also lets AYA debit your account for amounts due to it.

Exhibit 6CriticalHarder than usual

The possibility exists that you could sustain a loss even more than your initial investment.
Clause General Risk Description in Risk Disclosure
Read from the broker's site on Open the reference
Our own capture of ayamarkets.com, taken on Sep 15, 2026The claim, on Account comparison table row, marked Yes for all three accounts: AYA Zero, AYA Pro and AYA RawVisit this page on the broker's siteDownload the full size image file
Our own capture of ayamarkets.com, taken on Sep 15, 2026What the contract says, clause General Risk DescriptionVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ASIC (Australia), ESMA (EU)

Firms licensed by the FCA, CySEC and ASIC must give retail clients negative balance protection as a binding account limit written into the terms. Here it appears as a table entry on a marketing page and nowhere in the four legal documents.

AYA Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 7AYA can debit the account to remove what it calls illicit profit, and no clause caps what it can take back.

Suspicion is enough for AYA Markets to cancel what you earned

Two clauses in the AYA Markets customer agreement reach your profit. One lets AYA annul all profits where it suspects fraud, manipulation or swap arbitrage, at its sole discretion, including on trades already closed. The other defines illicit profit as profit from a breach of any term in the agreement, and lets AYA adjust your balance to remove it.

Profit at risk1 clause flagged

AYA Markets defines Illicit Profit as profit generated from a breach of any of the terms of its agreements. Break one term anywhere in the contract, and the profit you made becomes removable. AYA can then adjust your balance to take it out.

Why this matters

The definition does not separate a serious abuse from a small slip, such as letting someone else see your password. Whatever you earned in that period can be stripped from your balance.

Exhibit 7CriticalRarely seen

"Illicit Profit" shall mean profit which has been generated as a result of an Event of Default, Error Quote or breach of any of the terms of the Operative Agreements.
Clause Interpretation of Terms in Customer Agreement
Read from the broker's site on Open the reference
Our own capture of ayamarkets.com, taken on Sep 15, 2026Any breach of any term turns your profit into illicit profit (clause Interpretation of Terms)Visit this page on the broker's siteDownload the full size image file

Our readingMost contracts tie a profit clawback to a defined list of abusive practices. Defining illicit profit by reference to a breach of any term in the whole agreement makes the trigger as wide as the contract itself.

  • Same clause as Exhibit 1Both give AYA a route to your profit, one through suspicion and the other through the breadth of a definition.

A 0% commission promise with a 3% charge behind it

AYA Markets promises 0% commission on all deposits and withdrawals regardless of method or amount. Its customer agreement reserves 3% of the total withdrawal where you withdraw without trading since your last deposit. The AML policy adds all transfer costs and any currency losses, taken straight out of the withdrawal. AYA can also change any charge without telling you first.

Cost disclosure2 clauses flagged

AYA Markets can vary its commissions, charges and other costs at any time without giving you prior written notice. It posts the new figures on its website, and checking them is left to you.

Why this matters

The pricing you agreed to when you deposited is not the pricing you keep. A cost can rise between your deposit and your withdrawal, and the first you know of it is the smaller number arriving.

Exhibit 9WarningHarder than usual

The Company may vary commissions, charges and other costs from time to time without prior Written Notice to the Client. All changes in commissions, charges and other costs are displayed on the Company's Website.
Clause Commissions, Charges and Costs in Customer Agreement
Read from the broker's site on Open the reference

AYA Markets can charge you for all costs incurred during the deposit and withdrawal process, plus any losses from currency movement. Both come straight out of the withdrawal amount or your remaining funds. This sits in the AML policy, not on the page about withdrawals.

Why this matters

The amount you asked for is not the amount you get, and no clause caps the deduction or makes AYA itemise it. The withdrawal page promising 0% commission mentions neither charge.

Exhibit 10WarningHarder than usual

Furthermore, the customer may be charged for all costs incurred during the deposit and withdrawal process, as well as any losses due to currency fluctuations, which will be deducted directly from the withdrawal amount or the customer's funds.
Clause Payments Policy in AML Policy
Read from the broker's site on Open the reference
Our own capture of ayamarkets.com, taken on Sep 15, 2026The claim, on Partner reward benefits list on the IB Program pageVisit this page on the broker's siteDownload the full size image file
Our own capture of ayamarkets.com, taken on Sep 15, 2026What the contract says, clause Payments PolicyVisit this page on the broker's siteDownload the full size image file

Where it sits: section 30 of 54 in the AML Policy, 56% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must set out the costs of paying money in and out before a retail client commits, including any currency conversion charge. Here the rule is in the AML policy while the withdrawal page shows 0%.

AYA Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

AYA Markets runs deposit bonuses without publishing bonus terms

AYA Markets has offered a 100% deposit bonus up to $10,000, a 50% support credit up to $15,000 and a Black Week 50% bonus. It publishes no bonus terms document, so the only rules are the Trading Benefits clauses in the customer agreement. Those let AYA cancel any scheme at any time without notice, and let any suspicion of bonus abuse nullify every transaction and profit under it.

Promotion terms1 clause flagged

AYA Markets has run a 100% deposit bonus up to $10,000, a 50% support credit up to $15,000 and a Black Week 50% bonus. It publishes no bonus terms document. The only rules sit in the customer agreement, and they let AYA cancel any scheme at any time without notice.

Why this matters

Any suspicion of bonus abuse nullifies every transaction and every profit made under the scheme. AYA takes no liability for a margin call caused by removing the bonus, so your own deposit can be stopped out.

Exhibit 14WarningHarder than usual100%

The Company reserves the right, as it in its sole discretion deems fit, to alter, amend, suspend, cancel or terminate the Trading Benefit Scheme, or any aspect of it, at any time and without any prior notice. Under no circumstances shall the Company be liable for any consequences of any alteration, amendment, suspension, cancelation or termination of the Trading Benefit Scheme.
Clause Trading Benefits in Customer Agreement
Read from the broker's site on Open the reference
  • Worse together with Exhibit 1Suspicion voids the bonus profits under one clause and your ordinary profits under the other.

AYA Markets can suspend your account and rewrite your terms

AYA Markets can suspend a trading account at any time for any good reason, with or without written notice. It can switch an account to Close Only Mode with no notification at all. It can also change the agreement unilaterally at its sole discretion, and a change posted on its website counts as served to you one hour later.

Unilateral control2 clauses flagged

AYA Markets can suspend your trading account at any time for any good reason, and the contract says it may do so with or without written notice to you. It can also switch the account to Close Only Mode without prior notification, which blocks any new position.

Why this matters

You can find yourself unable to open or manage positions with no warning. AYA alone decides what counts as a good reason, and any dispute about it is resolved by AYA at its sole and absolute discretion.

Exhibit 11WarningHarder than usual

The Company has the right to suspend the Client's Trading Account at any time for any good reason (including Abnormal Market Conditions) with or without Written Notice to the Client.
Clause Miscellaneous in Customer Agreement
Read from the broker's site on Open the reference
  • Worse together with Exhibit 4A suspension you were not told about can consume part of the 5 working days you have to complain about it.

AYA Markets can change the terms of your agreement at any time, on its own, at its sole discretion. A change posted on its website counts as delivered to you one hour after it goes up, whether or not you saw it.

Why this matters

You are bound by wording you never read. To keep track you would have to check the website more than once a day.

Exhibit 12WarningHarder than usual1

The Client acknowledges that the Company has the right to unilaterally modify the terms and conditions of the Operative Agreements at any time and at its sole discretion, giving to the Client written notice by email and/or by posting the modification on the Company Website.
Clause Amendment and Termination in Customer Agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must give retail clients advance notice of a contract change, normally in durable form and typically about 30 days ahead. This contract treats a website post as delivered within the hour.

AYA Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Five working days to complain, judged on AYA's own records

AYA Markets gives you 5 working days from the event to lodge a complaint, not from the day you noticed it. AYA claims an absolute right to refuse that complaint and picks the method of resolving the dispute at its sole discretion. Its own server log is the reference, and quotes from any other company are not taken into account.

Complaint window1 clause flagged

In any dispute, AYA Markets treats its own server log as the reliable source. If the log did not record what you are pointing at, the contract says your argument may not be considered. Prices from any other company or information system are not taken into account.

Why this matters

You cannot prove a bad fill using an outside price feed or your own screenshots. The party you are in dispute with owns the only record the contract will look at.

Exhibit 13WarningHarder than usual

If the Server Log‐File has not recorded the relevant information to which the Client refers, the argument based on this reference may not be considered.
Clause The Procedure for Dispute Resolution in Customer Agreement
Read from the broker's site on Open the reference
  • Worse together with Exhibit 17AYA is the counterparty to your trade and also the keeper of the only record that can settle a dispute about it.
  • Same clause as Exhibit 4The same dispute procedure sets the 5 working day window and the evidence rule.

Every claim against AYA Markets goes to the Island of Mohéli

AYA Markets sets the law and the exclusive courts of the Comoros Union, Island of Mohéli. You agree in advance not to argue the forum is inconvenient. You also waive all immunity from suit, from attachment of your assets and from enforcement of any judgment, which is a device drawn from cross border commercial lending.

Where you can sue1 clause flagged

Any claim against AYA Markets goes to the courts of the Comoros Union, Island of Mohéli, and nowhere else. You agree in advance not to argue that this is an inconvenient forum. You also waive all immunity, including from having your assets attached.

Why this matters

Suing AYA means hiring lawyers on a small island in the Indian Ocean, under a law you cannot look up. The immunity waiver runs against your own revenues and assets.

Exhibit 15WarningRarely seen

This Agreement shall be governed by and construed in accordance with the laws of the Comoros Union, Island of Mohéli.
Clause Governing Law and Jurisdiction in Customer Agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must let a retail client bring a claim in their home courts or through an independent ombudsman. This contract sends every dispute to Mohéli and removes the forum objection.

AYA Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingAn exclusive offshore forum is normal for a Comoros licensed broker. A blanket waiver of all immunity from suit, from attachment of assets and from enforcement of judgments is a device from cross border commercial lending, and in a retail trading contract it hands the firm enforcement routes the client has no equivalent of.

Card photographs in, and a fee to get your own data out

AYA Markets requires photographs of the front and back of your payment card, including your signature. Refusing any requested document means AYA will consider closing the account. Its privacy policy sets out your right to a copy of your data under Article 15, while the customer agreement makes that copy conditional on paying a fee.

Document demands1 clause flagged

Paying by card means sending AYA Markets photographs of the front and back of it, including your signature. Refusing any document it asks for means AYA will consider closing your account. Asking for a copy of the data it holds on you costs a fee.

Why this matters

You hand over card images and identity papers to a Comoros company, and getting sight of what it holds is charged for. The document list is open ended, so a request can arrive when you try to withdraw.

Exhibit 16WarningHarder than usual

If the Client is an individual, the Company is obliged to supply the Client, on request, with a copy of personal data which it holds about the Client (if any), provided that the Client pays a fee.
Clause Personal Data in Customer Agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must give a client a copy of their personal data without charging for the first request. AYA's privacy policy describes that right under Article 15, and its customer agreement makes it conditional on paying a fee.

AYA Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 3A document request at withdrawal time is what turns the 24 hour promise into the 30 day verification hold.

AYA Markets trades against you and keeps the only price record

AYA Markets deals principal to principal, so it is the counterparty to your trade rather than your agent. It states the relationship is execution only and that it may execute a trade even where it is not suitable for you. Its own server is the only source of quotes the contract accepts, and no conflict of interest policy appears among its four documents.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Who is on the other side1 clause flagged

AYA Markets deals with you on a principal to principal basis, which means it is the other side of your trade rather than your agent. Its own server is the only source of prices the contract accepts. It publishes no conflict of interest policy.

Why this matters

When you lose on a trade, the company on the other side of it is AYA. It also sets the price, keeps the record, and decides any dispute about both.

Exhibit 17WarningStandard wording

In relation to any Client transaction, the Company acts on a principal-to-principal basis and not as the agent on the Client's behalf.
Clause Introduction in Customer Agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must publish a conflicts of interest policy and tell retail clients when they deal as principal. AYA discloses the principal relationship in the contract and publishes no conflicts policy.

AYA Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Six months without a trade starts a five dollar monthly charge

AYA Markets can treat an account as dormant after six consecutive months with no trading. It can then charge $5 a month at its absolute discretion, or close the account instead. Where the balance is zero no fee applies and AYA keeps the right to close the account. It can also waive the fees where a client makes a genuine attempt to resolve the balance.

In plain words

Dormancy means an account left unused.

Dormancy1 clause flagged

Stop trading for six straight months and AYA Markets can treat the account as dormant. It can then take $5 a month from your balance, at what it calls its absolute discretion. It can also close the account instead.

Why this matters

A small balance you left behind drains at $5 a month while you are not looking. If the balance is zero, AYA charges nothing and closes the account.

Exhibit 8WarningStandard wording$5

"Dormant and/or Inactive Account Fee" shall mean a handling fee of 5 USD or the equivalent to USD per account per month that the Company may charge at its sole discretion and/or paid by a Client for his/her dormant account(s) held by the Company, as this may be amended from time to time by the Company.
Clause Interpretation of Terms in Customer Agreement
Read from the broker's site on Open the reference

What it costsA $60 balance left idle from month seven is charged $5 a month. Twelve months later it is gone.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Six months idleAYA can treat the account as dormant after six straight months with no trading.Interpretation of Terms
Positive balanceA $5 monthly handling fee can start, charged at AYA's absolute discretion.Miscellaneous
Zero balanceNo fee is charged, and AYA can close the account instead.Miscellaneous
Genuine attempt to resolveAYA can waive the fees, again at its own discretion.Miscellaneous
  • Worse together with Exhibit 9The $5 figure can be amended from time to time by AYA, and fee changes need no notice to you.

One Comoros licence and a four document shelf

You contract with AYA Markets (Comoros) Ltd, registration HY00423002, licensed by the Mwali International Services Authority under number T2023263. That is the only licence named in any of its documents. It publishes four legal documents in total, with no payment terms, no bonus terms, no conflicts policy and no complaints procedure. Its About page says funds sit in segregated accounts at top tier banks, while the contract describes accounts opened in AYA's own name.

Who you contract with2 clauses flagged

AYA Markets (Comoros) Ltd holds one licence, from the Mwali International Services Authority on the Island of Mohéli, number T2023263. That is the only licence named in any of its documents. It publishes four legal documents and no others.

Why this matters

There are no bonus terms for the deposit bonuses it has run, no payment terms for the fees, no conflicts policy and no complaints procedure. The rules that govern your money are spread through a customer agreement and an AML policy instead.

Exhibit 18NoticeStandard wording4

"Company" shall mean AYA Markets (Comoros) Ltd, licensed by the Mwali International Services Authority, Island of Mohéli as an International Brokerage and Clearing House under License number T2023263.
Clause Interpretation of Terms in Customer Agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must publish a client categorisation policy, a best execution policy, a conflicts of interest policy and a complaints procedure. AYA publishes a customer agreement, an AML policy, a risk disclosure and a privacy policy.

AYA Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

The About page tells you client funds are held in segregated accounts at top tier banks. The customer agreement says your funds are held on AYA's own accounts, including segregated ones, opened in AYA's name. No bank is named and no compensation scheme is mentioned anywhere.

Why this matters

Segregation in the broker's own name is weaker than a trust account at a named bank. If AYA failed, no scheme in its four documents would pay you back.

Exhibit 19NoticeStandard wording

Client's funds are held on the Company's accounts including segregated accounts opened in the Company's name for holding Client funds separate from the Company's funds.
Clause Commissions, Charges and Costs in Customer Agreement
Read from the broker's site on Open the reference
Our own capture of ayamarkets.com, taken on Sep 15, 2026The claim, on Security First card on the About AYA Markets pageVisit this page on the broker's siteDownload the full size image file
Our own capture of ayamarkets.com, taken on Sep 15, 2026What the contract says, clause Commissions, Charges and CostsVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must hold retail client money in trust at approved banks and belong to a compensation scheme. This contract describes accounts in the company's own name and names no scheme.

AYA Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The page promises no commission regardless of amount, while the contract reserves 3% of the total withdrawal.

Said in public, in English

0% Commission Promise: All deposits & withdrawals are free of commission, regardless of the method or the amount.

Lead paragraph under the Deposit & Withdrawal page heading

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In the contract · clause Commissions, Charges and Costs

In case the Client performs a withdrawal request without any trading activity from the last deposit made or if any other form of abuse is found the Company reserves the right to:

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02

A 24 hour promise on the withdrawal page against a 30 day suspension power kept in the AML policy.

Said in public, in English

Withdrawal requests are processed within 24 hours on business days.

Fast Withdrawals feature card on the Deposit & Withdrawal page

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In the contract · clause Payments Policy

Otherwise, the Company reserves the right to suspend withdrawals for up to 30 days from the date of the withdrawal request for verification purposes.

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03

Every account is marked as having negative balance protection while the risk disclosure says you can lose more than you deposited.

Said in public, in English

Negative Balance Protection

Account comparison table row, marked Yes for all three accounts: AYA Zero, AYA Pro and AYA Raw

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In the contract · clause General Risk Description

The possibility exists that you could sustain a loss even more than your initial investment.

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04

AYA sells a Persian speaking advisory team while the contract says anything not in English does not bind it.

Said in public, in English

Personal contact with the ATT Persian Trading Team, 5 days a week (Mon–Fri)

Gold and Platinum tier service list on the AYA Membership page

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In the contract · clause Miscellaneous

Translation or information provided in languages other than English in the Company's local websites is for informational purposes only and do not bind the Company or have any legal effect whatsoever, the Company having no responsibility or liability regarding the correctness of the information therein.

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05

Top tier banks on the About page, and accounts in the company's own name in the contract.

Said in public, in English

Client funds are held in segregated accounts at top-tier banks. We prioritize the safety and security of your investments.

Security First card on the About AYA Markets page

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In the contract · clause Commissions, Charges and Costs

Client's funds are held on the Company's accounts including segregated accounts opened in the Company's name for holding Client funds separate from the Company's funds.

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06

Partner rewards are advertised as withdrawable without any restrictions while the AML policy reserves the right to restrict withdrawal requests.

Said in public, in English

Your rewards are paid in U.S dollars and can immediately be withdrawn without any restrictions

Partner reward benefits list on the IB Program page

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In the contract · clause Payments Policy

The Company shall have the right to set restrictions on the maximum number of withdrawal requests and internal funds transfer requests that can be submitted within a certain timeframe.

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The documents this reading is based on

4 files, all published by AYA Markets. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording AYA Markets publishes.

How this reading was done

Every clause above was read out of a document AYA Markets publishes itself

This reading was published on .

Documents
4 of 4downloaded from the broker's site, and 4 read in full
Pages opened
25pages walked to find those documents, footer links included
Marketing pages
9public pages set against what the contract says
Position measured
2clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

AYA Markets (Comoros) Ltd

You contract with AYA Markets (Comoros) Ltd, registered number HY00423002, at Bonovo Road, Fomboni, Island of Mohéli, Comoros Union. The customer agreement defines it as licensed by the Mwali International Services Authority under licence T2023263, and that is the only licence named in any of the four documents. No UK, Australian, Cypriot or Caribbean entity appears in any of them. The privacy policy names a slightly different company, "AYA Markets Ltd", at the same address, and that is the company listed as responsible for your personal data. Governing law and exclusive jurisdiction are the courts of the Comoros Union, Island of Mohéli.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

AYA Markets publishes its inactivity fee where a client will actually see it. The account types page states "$5 per month from the 7th month of inactivity", and that matches the customer agreement instead of quietly exceeding it. Most brokers leave this figure in the contract only. The deposit page carries a full method by method table with the minimum and the commission for each option. The risk disclosure says in its third paragraph, not its last, that you could lose more than your initial investment. The dormancy clause also lets AYA waive the fees where a client makes a genuine attempt to resolve the balance. Every page footer names the legal entity, the registration number, the licence number and the registered address.

AYA Markets publishes four legal documents, and this review covers all four in full. The customer agreement is long, and its closing part, including the governing law section and the immunity waiver, comes from AYA Markets' own page at ayamarkets.com/customer-agreement. No earlier version of any of the four exists for comparison. There are no bonus terms, no payment terms, no conflict of interest policy, no complaints procedure and no copy trading terms, so every clause quoted here on those subjects comes from the customer agreement or the AML policy. The site has no version in any language other than English, although the membership page sells a Persian speaking team. Every quoted marketing claim comes from the broker's own pages.

How to check any of this yourself

Every quote above links to the AYA Markets file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document AYA Markets publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge AYA Markets on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Sep 15, 2026.

If you represent AYA Markets and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on AYA Markets. Whether its licence is real and current is a separate check on the broker profile.

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