BKFX Review & Rating 2023Visit Bkfx
The online broker also provides you access to lots of trading options like the forex, crypto, and many other assets. The trade action is quick and can be done in no time. The financial instruments are placed rightly for making your investment afford simpler.
If you are planning to enter the trading world, then you are in the right place. I will try to keep the article transparent like the way BKFX does on 24/7 trade. The biggest advantages and what they are good at will also be shared in full.
Even a new investor will find the platform dynamic and easy to work on. The market's reliable broker has many learning goods for you to improve your trading skills. You just need to spend some time here and get to know more about the BKFX trading facilities. It's going to be an unbiased review. AtoZ Markets is in no way responsible for any opinions given by the writer.
About BKFX Company
BKFX was founded in the year 2017. They use the MetaTrader 4 cost-free platform on the web. It has two different bodies in function. The first one is located in South Africa and is known as the BKFX SA. This group is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa. The second group of BKFX is registered on Saint Vincent and the Grenadines. It is known as the BKFX SVG and no regulation body is in use.
The main offices of the trading platform are located in two different places. In Saint Vincent and the Grenadines, the main office is located in the capital city Kingstown. On the other hand, the South Africa BKFX office is located in Umhlanga.
The minimum investment: You can start with just $5.
Max Leverage: 1:2000
Broker Type: Straight-through Processing (STP), the automatic system uses electronic end-to-end transactions for your buying and selling orders.
Investment options: Currencies, Crypto, Energies, Indices, Metals, and Stocks
Official website: https://bkfx.io
Products Details of BKFX
In this BKFX review, we will explore their products. It is a trading platform where you get access to a financial asset to trade as you like. The Forex and Crypto broker management can be started with just an account sign-up. The information provided on the sign-up form will not be shared with any third-party bodies.
You can invest in Six Different commodities
Currencies: You can invest in the world currencies of almost all countries.
Crypto: Bitcoin and other top altcoins are also available for you to put your bet on.
Energies: You can invest in the energy sector and get profitable.
Indices: You can work with a benchmark index and get a passive income.
Metals: Large range of metal investment facilities is also available on the platform.
Stocks: Top share exchanger's stocks are listed for you to buy and sell as per your investment signal.
Pros and Cons of BKFX
During our research for writing this BKFX review, we found that it has a good reputation on the market. The investment platform offers lots of quality and that leads to client praise on a constant basis. But sometimes things also go the other way around. Some disadvantages of the platform will also be shared in this section. We will try to show you the true picture of what they are really good and bad at.
- BKFX gives access to financial assets to remote places where it is hard to find any kind of bank. They are tackling unique challenges that we often face with financial physical bodies.
- Low marketing fees and higher leverage guarantees make them a well-known name on the market. You can work with 1:2000 leverages on the platform.
- Your first test run can be started with just $5. Besides, acquiring an account will also cost you less than five minutes. Altogether, you will have a quick and sound experience on BKFX.
- The client's fund security is provided by maximum transparency and allocation of amounts in separate trustworthy banks.
- There is no withdrawal-free and the transaction happens in no time.
- MetaTrader 4 has many negative aspects of use. Historical data reach backtesting canâ€™t be done on the platform.
- BKFX platform does not offer any ZAR account for your trading function. It is not an appreciable approach for any global trading platform.
- Wide spreads sometimes make the trading work more difficult for the investors. Getting in and out of the market seems harder at every single call.
Is BKFX Good for You?
It depends on the things that you are planning for your trading period. If you are in a remote location and want to get access to a world-class trading asset then BKFX can be a great help for you. The starting term will not demand much of a fund. Besides, transparency and financial security are also great on the platform.
One month membership on BKFX academy is going to cost you $10 for a month. You will get access to their education courses through which you can learn more about the trading world. There are no hidden costs on the platform as they are promised to keep the transparency.
You can search for the bkfxacademy and sign up for the courses. Things like live sessions, trading lessons, and e-books will be beneficial for your trading drafts. Besides, the advanced trading calculator is provided to calculate your daily pnl.
BKFX VPS offers you a data center facility with their virtual private server platform. You can get online with your business using the platform for ISP connection. You can trust them for a 24 hours active hosting facility without any lagging.
VPS will allocate you memory, CPU cores, and disk space. It is going to cost you around $250 for a yearly subscription. You can also mark for the monthly deal which
will be around $25. But that will be more costly than the annual deal on hand.
Is BKFX Trustable?
Can you rely on BKFX as your trading platform? Or is it a Scam? These are the common questions that we often see among the new investors who are planning to enter the trading world. Well, I can assure you that BKFX is a 24/7 open and transparent platform. They are eager to help you with your trading needs and have excellent customer service.
Your funds will be secured in separate reliable banks. BKFX also gives you access to different trading tools and makes your investment work simpler for you. If you are looking for a safe investment option then this broker can be a great candidate for your needs. They are regulated by the FSCA and that ensures the safety of your funds.
BKFX Review: Trading Platforms
BKFX uses the MT4 platform for Forex trading using financial instruments. CFD, stocks, stocks indices, crypto, etc. are also available for your asset management. There are four different trading platforms that you can take into use. The single-threaded MT4 client desktop platform is compatible with both 32-bit and 64-bit operating systems.
Android users can work on their official application, MT4 Android Trader. They also have recently launched the IOS platform for Apple users. The platforms are known as MT4 iPhone and iPad Trader. Besides, you can also use their web-based trading platform which is called the MT4 WebTrader.
Everything that you might need to start your first investment will be right here. Track your progress and allocate your funds in different stocks in no time. MQL4 language is used which is well-known for the trading system program. BKFX offers you the facility to invest in large companies from any place in the world.
BKFX Types of Account
There are two types of accounts that you can work with, Individual and corporate clients.
A single person who has the desire to trade on cryptocurrencies and Forex stocks can sign up for the account. The financial control will be on a single hand and grow on your individual trading skill. Your nationality will not be of any concern as BKFX accepts clients from all around the world.
You can choose the asset that you want to invest in. The transaction has ultra-low latency compared to other platforms and that will give great benefit during your trading periods. The leverage margin will also be the same as the corporate level basic option.
BKFX corporate clients are the company investors on the platform. They usually work with a larger fund in comparison to individual accounts. Separate funding security on different trustworthy banks is ensured by the BKFX platform.
As a company, the trading platform is aware of the bigger client space and gives additional facilities to keep them on board. Many big companies are their main investors and that is vastly helping them to expand their working fields.
BKFX allows you to work with different account types. The individual accounts work with a single entity and on the other hand, corporate investors are large business groups or some sort of company. You can create four different types of accounts on BKFX.
A Cent account can be a significant option for beginners. You can start your forex and crypto trading journey with only 5 USD/EUR. People who just desire to know more about online trading can call for the account type on BKFX
The minimum deposit amount on a BKFX standard account is about $100. The intermediate level traders often start with a simple 100 dollars when they are entering a new platform. The margin of the account ends on the $1000 cycle.
Expert traders always look for more on their investment scale. The premium account of BKFX's initial account minimum deposit is $1000 and the max limit ends on the $5000 margin. You will have some additional cost-cut features on the account type.
Raw Spread Account
Raw spread accounts are specially designed for corporate investment. They will have lower fees on their buy and sell trades. The account type requires an investment of at least $5000. Anything above that will also fall in the same class.
Security arrangement is the same for all the account types and also gets access to the same asset class. The trading plans can start with just $5. Besides, you can also get a premium membership to unlock additional features which will help you to earn more from the trading platform.
Fees and Commission
Your wealth management needs to be top-notch when you have goals in life. Entering the trading world is easy but bagging some profit from here needs additional skills. The first step is to take a look at the fees that you will have to pay on the platform, for every transaction.
We will try to have a look at what kind of fee is charged by the BKFX platform for trading. You will be glad to hear that BKFX makes things free for deposit and withdrawal. Besides, there is no inactivity fee but you will get negative balance protection from the platform.
But the trading cost is a little higher in comparison to other trading platforms. But the charge can be cut down with a higher deposit of $1000. It will turn you into a premium trader on BKFX and charge you 1 pip (EUR/USD) only.
As you can see, BKFX is offering a decent deal to the traders. You are not going to lose lots of money on the trading fees. A Relatively small investment might ask for higher fees but the minimum threshold of $1000 will cut the fee by half or more.
Deposit and Withdrawal Facility of BKFX
- You can invest in the BKFX account using your Cards or electric transfer. Financial institutes can also work with bank checks.
- Money can be withdrawn 24/7. You can follow the same process that you have followed for the deposit function. Same transaction tools are available for funds withdrawal.
- BKFX will not charge you any fee for the withdrawal and deposit function. You can start with just $5.
- Sometimes the withdrawn amount will take time to arrive because of the holidays or any big events. You should try to avoid them if you are in a hurry.
Do you have more queries on the deposit and withdrawal of the BKFX fund? You can contact their helpline or simply email us for more information. We will be happy to help you with your needs.
BKFX Review: Customer Support
BKFX is vastly known for its quality customer support. You can visit their official website and chat with an AI person who can solve all your problems. Besides, if you donâ€™t find the right answer here, you can always email them for assistance.
Online chatting can also be done with a real person if needed. You just need to ask the chatbot to give you real human assistance and that will place you in a queue. Sometimes, you will need to wait a few minutes as there will be lots of other clients in demand of assistance.
BKFX has a separate website dedicated to the trading resource courses. It is known as the BKFX Academy and has vast video resources and articles for you to work with. Overall, BKFX has no complaints when it comes to customer support. They are eager to solve every single problem. You just need to be patient sometimes and allow them to prepare a knowledgeable reply for your needs.
Is BKFX Regulated?
BKFX's main offices are located in two different places. The first office is registered in Umhlanga, South Africa. The name of the office is BKFX SA and is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa.
FSCA makes sure that the investment coming in is safe and no criminal activity is happening. It allows the broker to gain more trust among the investors. The second office is located in Kingstown, Saint Vincent, and the Grenadines.
It does not have any regulatory body and is known as the BKFX SVG. As an investor, you need to have trust in a platform before investing a large sum of money. The regulatory body of South Africa is in control of the financial broker online platform.
So far, we have not seen any big complaints about BKFX from the investors. That gives it a good meaning on why BKFX is not a scam. You can rely on them to trade on different assets and follow with a good profit margin.
BKFX is a trading platform with zero withdrawal and deposit fees. The beginning of your trading journey can be started with just $5. You can also seek in their BKFX academy for trading knowledge and that will help you to grow as a trader in the long run.
The quick and secure platform is open 24/7 with available assets from different zones. FSCA is the regular body that keeps the agency's financial terms in check. If you are looking for a platform for regular trading then BKFX can be a great candidate for it. But remember trading means risks involved in it.