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Contract reading

What KAMA Capital legally published, but does not want you to read

Every clause below is published by KAMA Capital 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: Kama Capital LLC

bonus lockeligibilitymarketing gapcashbackclient moneyconflict of interestdata rightsdeemed acceptanceentity opacityforum waiver

Kama Capital publishes three legal pages and no client agreement. Nothing in writing says how you withdraw, what you pay, or when your account can be closed. Its risk disclosure states that client money is not kept separate from the firm's own funds. The 100% bonus it calls non losable stays whole by spending your deposit first.

Back to KAMA Capital

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.
5
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
14
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
14
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
9

How the 14 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.

Critical5
Warning6
Notice3

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.

Critical100%Bonus requirement. Jump to the clause this comes from.Your deposit absorbs the losses, not the bonusCritical3In the contract. Jump to the clause this comes from.Three companies, and none is named as yoursCritical30 daysTime to complain. Jump to the clause this comes from.Complaints mean 30 days of talks, then a Caribbean court1.5%Fee you were not shown. Jump to the clause this comes from.Up to 1.50% of your interest stays with the broker

What the documents say

14 clauses worth knowing about, worst first, each quoted from KAMA Capital's own files

01

Kama Capital calls its 100% matching bonus non losable, and clause 3 explains how. Every trading loss comes out of your own deposited money first. The bonus is the part that stays protected.

Why this matters

You can lose all of your own money while the bonus sits untouched beside it. The bonus only starts taking losses once your deposit is gone, when there is nothing of yours left to protect.

Exhibit 1CriticalHarder than usual100%

The Bonus does not cover any trading losses. All losses resulting from trading activities will be deducted solely from the client's original deposited funds, and the Bonus remains protected from deduction as long as there is remaining original balance.
Clause 3 in 100% Non-Losable Bonus
Read from the broker's site on Open the reference
Our own capture of kama-capital.com, taken on Sep 2, 2026The claim, on English bonus landing page, Non Losable benefit block, above the collapsed termsVisit this page on the broker's siteDownload the full size image file
Our own capture of kama-capital.com, taken on Sep 2, 2026What the contract says, clause 3This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of kama-capital.com, taken on Sep 2, 2026Your deposit absorbs the losses, not the bonus (clause 3)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

What it costsDeposit $1,000 and the bonus takes your buying power to $2,000. A $1,000 loss takes your whole $1,000 and leaves the $1,000 bonus in place.

  • Worse together with Exhibit 2Your money funds the losses, and Kama Capital can still cancel the bonus and its profits if it decides the trading was not normal.
02

Kama Capital states in its own risk disclosure that it does not offer segregated client accounts. Your deposit sits alongside the company's own money instead of in an account kept apart from it.

Why this matters

If Kama Capital fails, your balance is not fenced off from the company's own creditors. No compensation scheme is named in any of its documents.

Exhibit 3CriticalRarely seenNew

Kama Capital does not offer segregated client accounts. Client funds are held in accordance with applicable regulatory requirements, but are not held in segregated accounts separate from the firm's own funds.
Clause 8 in Risk Disclosure
Read from the broker's site on Open the reference
Our own capture of kama-capital.com, taken on Sep 2, 2026Client money is not held separately from the firm's (clause 8)Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ASIC (Australia)

Firms licensed by the FCA, CySEC or ASIC must hold retail client money in segregated accounts, apart from the firm's own funds. This risk disclosure says Kama Capital does not.

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

Our readingSegregation is the mechanism that stops a broker's own failure from reaching client balances. A firm that states in writing that it does not segregate has removed that separation, so client funds form part of the company's own pool.

03

Kama Capital can cancel your bonus and any profit made with it if it decides the bonus was used in a way inconsistent with normal trading. The cashback terms go further. On suspicion alone it can reclaim credits already paid, cancel the trades behind them and close your account.

Why this matters

You can lose profit you have already made, on a decision the terms call final, binding and not subject to appeal. The listed triggers are real abuse, including wash trading and bot exploitation. Neither page defines the normal trading you are judged against.

Exhibit 2CriticalHarder than usual

If the Company suspects any violation, it reserves the right to take immediate action including withholding credits, reclaiming previously paid credits, cancelling associated trades, and permanently suspending or closing the trading account. The Company's decisions in this regard shall be final, binding, and not subject to appeal.
Clause 4 in Cashback Program
Read from the broker's site on Open the reference
Our own capture of kama-capital.com, taken on Sep 2, 2026Credits, trades and profits cancellable on suspicion (clause 4)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
  • Worse together with Exhibit 5The decision is final and not subject to appeal, and the only forum named anywhere is a court in St Vincent and the Grenadines.
04

Kama Capital runs one brand across three companies. One holds the UAE licence, one holds the Mauritius licence, and Kama Capital LLC is registered in St Vincent and the Grenadines. Nothing tells you which one will hold your account.

Why this matters

The risk disclosure says clients taken on by the St Vincent entity may get fewer protections, and that is where a non UAE resident is sent at signup. You cannot check a licence, a regulator or a complaints route without knowing which company you signed with.

Exhibit 4CriticalHarder than usual3

The level of regulatory protection varies between jurisdictions. Clients onboarded under the FSA SVG entity may have fewer regulatory protections than those onboarded under the UAE CMA or FSC Mauritius entities.
Clause 7 in Risk Disclosure
Read from the broker's site on Open the reference
Our own capture of kama-capital.com, taken on Sep 2, 2026The claim, on English partner programme page, Globally Regulated Partner blockVisit this page on the broker's siteDownload the full size image file
Our own capture of kama-capital.com, taken on Sep 2, 2026What the contract says, clause 7Visit this page on the broker's siteDownload the full size image file
Our own capture of kama-capital.com, taken on Sep 2, 2026The claim, on English footer disclaimer, on every page of the main siteVisit this page on the broker's siteDownload the full size image file
Our own capture of account.kama-capital.com, taken on Sep 2, 2026What the contract saysVisit this page on the broker's siteDownload the full size image file
Our own capture of kama-capital.com, taken on Sep 2, 2026Three companies, and none is named as yours (clause 7)Visit this page on the broker's siteDownload the full size image file
  • Worse together with Exhibit 3Money that is not segregated sits with a company whose name you were never given.
05

Before you can take Kama Capital to court, its terms require 30 days of talks with its own customer service. The only court named is in St Vincent and the Grenadines. That rule sits in the cashback and idle equity terms, not in the Terms of Use.

Why this matters

You would have to sue in the Caribbean, wherever you live. No published document names a complaints procedure, an ombudsman or a compensation scheme.

Exhibit 5CriticalHarder than usual30 days

In the event of any dispute, the Client must first contact the Company's Customer Service department to attempt an amicable resolution within thirty (30) days before resorting to the competent courts of St. Vincent and the Grenadines.
Clause 7 in Cashback Program
Read from the broker's site on Open the reference
Our own capture of kama-capital.com, taken on Sep 2, 2026Complaints mean 30 days of talks, then a Caribbean court (clause 7)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.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 or CySEC must publish a complaints procedure and give a retail client access to an independent ombudsman after an internal decision. These terms name neither, and one clause calls the firm's decision final and not subject to appeal.

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

06

Kama Capital publishes three legal pages: a Terms of Use about the website, a short privacy policy, and a risk disclosure. None of them is an account contract. Nothing in writing sets out how you withdraw, what it costs, or when the account can be closed.

Why this matters

You cannot read what you are agreeing to before you deposit, because it is not published. The one clause that mentions withdrawals points at standard terms and conditions that appear nowhere on the site.

Exhibit 6WarningRarely seen3

Your Cashback reward will be rebated to your trading account balance and any withdrawals will follow the standard terms and conditions governing your account.
Clause 5 in Cashback Program
Read from the broker's site on Open the reference
Our own capture of kama-capital.com, taken on Sep 2, 2026The claim, on English homepage hero, second of three promisesThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of kama-capital.com, taken on Sep 2, 2026What the contract says, clause 5This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.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 or CySEC must give a retail client the terms of business in writing before providing services, and must disclose costs and charges before the client trades. Kama Capital publishes no account terms and no fee schedule.

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

Our readingA retail broker normally publishes a client agreement, the document that creates the account relationship and fixes the withdrawal, fee and closure rules. Kama Capital publishes none, so the only written terms touching your money are the ones inside its promotions.

  • Worse together with Exhibit 12Terms you cannot read can also be changed at any time without notice.

The cashback pays per lot and is advertised per trade

Clause 3 of Kama Capital's cashback terms pays $1 for each lot traded, while its English and Arabic homepages both advertise $1 for every completed trade. The same pages call the program open to all account types, and clause 1 excludes institutional accounts. Both clauses sit behind collapsed headings on the offer page.

Units and eligibility2 clauses flagged

Kama Capital's cashback terms pay you $1 for each lot traded. Its English and Arabic homepages both advertise $1 for every completed trade, which is not the same thing.

Why this matters

A small trade earns a fraction of a dollar, not a dollar. On the smallest trade Kama Capital allows, the credit is one cent.

Exhibit 7WarningHarder than usual$1

Under this Program, Eligible Clients shall receive a fixed credit amount of USD 1 (one United States Dollar) for each lot traded.
Clause 3 in Cashback Program
Read from the broker's site on Open the reference
Our own capture of kama-capital.com, taken on Sep 2, 2026The claim, on English homepage, Cashback Program offer cardVisit this page on the broker's siteDownload the full size image file
Our own capture of kama-capital.com, taken on Sep 2, 2026What the contract says, clause 3This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

What it costsThe minimum trade size is 0.01 lots on every account type. At $1 per lot, that trade pays $0.01, and you would need 100 of them to earn one dollar.

Kama Capital's Arabic and English homepages both say the cashback is open to all account types. Clause 1 of the cashback terms excludes institutional accounts.

Why this matters

If you fund an institutional account, the minimum is $50,000 and the cashback you were shown does not reach you. Neither homepage says so.

Exhibit 8NoticeStandard wording$50000

Institutional accounts are not eligible for this Program.
Clause 1 in Cashback Program
Read from the broker's site on Open the reference
Our own capture of kama-capital.com, taken on Sep 2, 2026The claim, on Arabic homepage, cashback slide, third bulletVisit this page on the broker's siteDownload the full size image file
Our own capture of kama-capital.com, taken on Sep 2, 2026What the contract says, clause 1Visit this page on the broker's siteDownload the full size image file

Up to 1.50% of your interest stays with the broker

Tier 1 of Kama Capital's Idle Equity Program pays the official USD rate minus 1.50% a year on balances of $5,000 to $9,999, and the deduction is never called a fee. The rate resets monthly with no notification, and clause 5 makes monitoring it the client's job. Kama Capital publishes no fee schedule of any kind.

Cost disclosure1 clause flagged

On your idle cash of $5,000 to $9,999, Kama Capital pays the official USD rate minus 1.50% a year. The gap is the company's cut, and no document calls it a fee.

Why this matters

You earn less than the rate the page advertises, and the rate resets every month with no message to you. Clause 5 makes watching it your job.

Exhibit 10WarningHarder than usual1.5%

Tier 1 — USD 5,000 to USD 9,999: Official USD Rate − 1.50%.
Clause 3 in Idle Equity Program
Read from the broker's site on Open the reference

What it costsOn $5,000 of idle margin, 1.50% a year is $75 you do not receive. At the top tier of $100,000 the deduction stops and you get the full rate.

Kama Capital can change the terms at any time without notice

The Terms of Use lets Kama Capital update its products, risk disclosures and terms at any time without prior notice, and the bonus terms treat continued participation as acceptance of the new wording. Only one offer may run on an account at a time, though three are promoted together. Retail leverage runs to 1:1000.

Changing the deal3 clauses flagged

Kama Capital can change its terms, its products and its risk disclosures at any time without telling you first. On the bonus, carrying on in the program counts as accepting the new terms.

Why this matters

You are bound by wording you have never seen. There is no notice, no version history, and nothing obliging Kama Capital to say what changed.

Exhibit 12WarningHarder than usual

Kama Capital may update website content, products, risk disclosures, and these terms at any time without prior notice.
Quoted in Terms of Use
Read from the broker's site on Open the reference

Kama Capital promotes three programs together: cashback, the 100% bonus, and interest on idle cash. Each program's own terms allow only one offer per account at a time.

Why this matters

You cannot collect cashback and the bonus at once, whatever the offers page suggests. A switch takes up to three business days, and accruals stop on the day you cancel.

Exhibit 11NoticeStandard wording1

Only one offer may be active per account at any given time.
Clause 9 in 100% Non-Losable Bonus
Read from the broker's site on Open the reference

Kama Capital offers retail clients leverage up to 1:1000, which its pages call the highest in the market. Negative balance protection, the cap that stops an account going below zero, covers retail accounts only.

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

A very small move against you can close your position out. If you accept professional or institutional status, you can lose more than you deposited.

Exhibit 14NoticeHarder than usual1000

Kama Capital offers leverage of up to 1:1000 on certain instruments for retail clients. Higher leverage increases both potential profit and potential loss.
Clause 3 in Risk Disclosure
Read from the broker's site on Open the reference

What it costsAt 1:1000, $100 of margin controls $100,000 of position. A 0.1% move against you is $100, which is the whole margin.

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

Firms under FCA, ESMA or ASIC rules cap retail leverage at 30:1 on major currency pairs and 20:1 on gold, and must give every retail client negative balance protection. This document offers 1:1000 and limits the protection to retail accounts.

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

The privacy policy no longer grants any client rights

Kama Capital's privacy policy runs to five sentences and grants no right of access, correction or deletion. The 2024 version had all three, plus a five year retention period. The current page says it may share client information with group entities, payment providers and compliance partners.

Your data1 clause flagged

Kama Capital's privacy policy is now five sentences long. The 2024 version gave you access to your data, a route to request deletion, and a stated retention period of five years. None of that survives.

Why this matters

You have no written way to see, correct or delete what Kama Capital holds on you. The page says it may share your information with group entities, payment providers and compliance partners, and stops there.

Exhibit 13WarningHarder than usual

We may share information with regulated group entities, service providers, payment providers, compliance partners, and authorities where required by law or regulation.
Quoted in Privacy Policy
Read from the broker's site on Open the reference

Kama Capital may be the counterparty to your trade

Section 4 of Kama Capital's risk disclosure says it acts as a market maker on certain instruments and may be the counterparty to a client's trades. The homepage advertises execution with no dealing desk intervention. No conflicts of interest policy is published.

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 you trade against1 clause flagged

The risk disclosure says Kama Capital acts as a market maker on some instruments and may be the counterparty to your trades. Its homepage advertises execution with no dealing desk intervention.

Why this matters

When the broker is your counterparty, it gains on that trade when you lose. Kama Capital says it manages this through its regulatory obligations and internal policies, and it publishes no conflicts policy for you to read.

Exhibit 9WarningStandard wording

Kama Capital acts as a market maker for certain instruments, meaning it may be the counterparty to your trades. In such cases, there is an inherent conflict of interest, which Kama Capital manages through its regulatory obligations and internal policies.
Clause 4 in Risk Disclosure
Read from the broker's site on Open the reference
Our own capture of kama-capital.com, taken on Sep 2, 2026The claim, on English homepage, Ultra-Fast Execution blockVisit this page on the broker's siteDownload the full size image file
Our own capture of kama-capital.com, taken on Sep 2, 2026What the contract says, clause 4Visit 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 or CySEC must identify conflicts of interest, disclose them and keep a published conflicts policy. Kama Capital discloses the market maker conflict in its risk disclosure and publishes no policy.

KAMA Capital 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 says the bonus shields your capital. Clause 3 spends your capital first and shields the bonus.

Said in public, in English

The bonus itself cannot be lost through trading. It acts as a buffer protecting your own capital first.

English bonus landing page, Non Losable benefit block, above the collapsed terms

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of kama-capital.com

In the contract · clause 3

All losses resulting from trading activities will be deducted solely from the client's original deposited funds, and the Bonus remains protected from deduction as long as there is remaining original balance.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of kama-capital.com

02

Introducers are told every client trades with a fully regulated entity, while the risk disclosure warns that St Vincent clients may get fewer protections.

Said in public, in English

Your clients trade with a fully regulated entity, building trust and reducing compliance risk.

English partner programme page, Globally Regulated Partner block

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of kama-capital.com

In the contract · clause 7

Clients onboarded under the FSA SVG entity may have fewer regulatory protections than those onboarded under the UAE CMA or FSC Mauritius entities.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of kama-capital.com

03

The footer calls St Vincent a licence. The account opening page calls it a company registration and names no regulator there.

Said in public, in English

Disclaimer: Kama Capital is licensed by the UAE Capital Market Authority (CMA), Financial Services Authority (FSA) of St. Vincent and the Grenadines, and the Financial Services Commission (FSC) of Mauritius, where applicable.

English footer disclaimer, on every page of the main site

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of kama-capital.com

In the contract

KAMA Capital is incorporated and registered in St. Vincent and Grenadines with company number 2049 LLC 2022.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of account.kama-capital.com

04

Withdrawals are promised as frictionless and governed by standard terms the site never publishes.

Said in public, in English

Withdraw fast, without friction

English homepage hero, second of three promises

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of kama-capital.com

In the contract · clause 5

Your Cashback reward will be rebated to your trading account balance and any withdrawals will follow the standard terms and conditions governing your account.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of kama-capital.com

05

The homepage pays per completed trade, the terms pay per lot, and the two differ on every trade that is not exactly one lot.

Said in public, in English

$1 per completed trade — no minimums

English homepage, Cashback Program offer card

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of kama-capital.com

In the contract · clause 3

Under this Program, Eligible Clients shall receive a fixed credit amount of USD 1 (one United States Dollar) for each lot traded.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of kama-capital.com

06

The Arabic page also promises a dollar per completed trade, while the English terms pay a dollar per lot.

Said in public, in Arabic

$1 لكل صفقة مكتملة — بدون شرائح

Word for word in English: $1 for every completed trade, no tiers

Arabic homepage, cashback offer card

In the contract · clause 3

Under this Program, Eligible Clients shall receive a fixed credit amount of USD 1 (one United States Dollar) for each lot traded.

07

Arabic readers are told the cashback covers all account types, and clause 1 excludes institutional accounts.

Said in public, in Arabic

قابل للسحب بالكامل، جميع أنواع الحسابات

Word for word in English: Fully withdrawable, all account types

Arabic homepage, cashback slide, third bullet

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of kama-capital.com

In the contract · clause 1

Institutional accounts are not eligible for this Program.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of kama-capital.com

08

The homepage promises no dealing desk, and the risk disclosure says the firm may be the counterparty to your trade.

Said in public, in English

Order execution under 15ms with no requotes and no dealing desk intervention.

English homepage, Ultra-Fast Execution block

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of kama-capital.com

In the contract · clause 4

Kama Capital acts as a market maker for certain instruments, meaning it may be the counterparty to your trades.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of kama-capital.com

09

The page promises no discretionary changes, and clause 6 keeps an absolute right to change or end the program at any time.

Said in public, in English

Rates are tied to the official Federal Reserve USD Interest Rate — publicly available, no discretionary changes.

English idle equity page, Transparent Rate benefit block

In the contract · clause 6

The Company reserves the absolute right to amend, suspend, or terminate the Program, or any of its Terms & Conditions, at any time.

What changed quietly

First reading of Kama Capital, so there is nothing yet to compare it with.

  • ADDEDClause 8 · 2023-03-21 to April 2026

    The current risk disclosure states that client accounts are not segregated. The 2023 version made no such statement.

    Kama Capital does not offer segregated client accounts. Client funds are held in accordance with applicable regulatory requirements, but are not held in segregated accounts separate from the firm's own funds.

  • REMOVEDClause 3.2 · 2023-03-21 to April 2026

    The 2023 version explained that client money could sit in an omnibus account held by a third party. That explanation is gone.

  • REWRITTENClause 7 · 2023-03-21 to April 2026

    The 2023 disclosure was written to Vanuatu's VFSC standard. The current one names three licences elsewhere and describes St Vincent as operational flexibility.

    • Financial Services Authority (FSA), St. Vincent and the Grenadines: Providing international operational flexibility.

  • REMOVEDClause 7 · 2024-05-18 to no version stated

    The 2024 policy gave clients access to their data and a route to ask for deletion. The current policy has no rights section at all.

  • REMOVEDClause 2 · 2024-05-18 to no version stated

    The five year retention period disappeared, so the current policy states no retention period.

The documents this reading is based on

14 files, all published by KAMA Capital. 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 KAMA Capital publishes.

How this reading was done

Every clause above was read out of a document KAMA Capital publishes itself

This reading was published on .

Documents
13 of 14downloaded from the broker's site, and 13 read in full
Pages opened
24pages walked to find those documents, footer links included
Older copies
4earlier versions downloaded
Marketing pages
4public pages set against what the contract says
Languages
AR vs ENthe language it advertises in, against the language it contracts in

Who the contract is with

Kama Capital LLC

Kama Capital LLC is the company named in the offer terms and in the title of the account opening page a non UAE resident reaches. That page calls St Vincent and the Grenadines an incorporation, company number 2049 LLC 2022, and names no regulator there. The UAE licence belongs to a different company, Kama Capital Securities Broker LLC, and a UAE resident is routed to that one instead. The Mauritius licence belongs to a third, KAMA Capital Ltd. No published document tells you which company holds your account.

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

The Arabic pages are a real translation, not a softened one. The Arabic risk disclosure carries the same admission that client accounts are not segregated, and the same warning that clients taken on by the St Vincent company may get fewer protections. Kama Capital also puts its market maker conflict in writing, states the 20% stop out level, and gives the Idle Equity Program a religious opt out with no penalty that lets you keep interest already credited.

Kama Capital publishes no client agreement, no payment terms and no complaints procedure, so there was nothing to read on withdrawal timings, fees, dormancy or account closure. The terms on the cashback, bonus and idle equity pages appear only when each numbered heading is opened, so we read them on the broker's own pages, and every quotation credited to those three pages comes from there. We did not read the Claim Offer page or the archived copy of the forex page, because both came back empty, and the archived homepage copy was unreadable. We did not publish how deep in a page each clause sits: the offer clauses are absent from the page text as served, so any position would misstate them. The Internet Archive holds no earlier copy of the Terms of Use or of the three offer pages.

How to check any of this yourself

Every quote above links to the KAMA Capital 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 KAMA Capital 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 KAMA Capital 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 2, 2026.

If you represent KAMA Capital 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 KAMA Capital. Whether its licence is real and current is a separate check on the broker profile.

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