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BKFX - Pros and Cons
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Unproved
Unproved
South Africa
2017 (9 Years)
Last online: No recent activity
Please carefully consider your options and choose the service that best meets your needs.
Avoid
10
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Security Information
1.25
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0.00
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0.00
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Security Information
What are the differences in regulations for each
License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
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Get to know BKFX
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Summarization
BKFX is an online broker that offers trading in the Forex and CFD (Contracts for Difference) markets. Established in 2017 and headquartered in South Africa, the broker supports a wide range of investment products including Forex currency pairs, cryptocurrencies, stocks, commodities and indices.
If you ask if BKFX is good, you should start by considering the registration and license first.The details are as follows:
FINANCIAL SERVICES AUTHORITY St Vincent & The Grenadines (FSA) License No. 701LLC2020 under BKFX LLC.
⚠️Warning:Although the broker is regulated, many users are concerned about the FSA license because it is a Tier D license, which has less strict supervision. This makes users feel uncertain about the supervision under this agency. Therefore, this factor should be reconsidered before investing.
Forex: Trade popular currency pairs like EUR/USD, GBP/USD
Commodities: Trade commodities such as gold, oil.
Indices: Trade major stock market indices.
Stocks: Trade shares of individual companies such as Apple, Tesla, and Amazon.
Cryptocurrencies: Cryptocurrencies can be traded (availability may vary).
The broker uses the MetaTrader 4 (MT4) platform, which is popular among traders all over the world and is available in desktop, web and mobile formats.
Minimum deposit: $5 / €5
Swap Account: Free
Trading currencies: USD, EUR
Spreads: 1.8 pips
Leverage: 1 to 2000
Stop out level: 50% / 20%
Minimum deposit: $100 / €100
Swap Account: Free
Trading currencies: USD, EUR
Spreads: 1.5 pips
Leverage: 1 to 2000
Stop out level: 50% / 20%
Minimum deposit: $1,000 / €1,000
Swap Account: Free
Trading currencies: USD, EUR
Spreads: 1 pips
Leverage: 1 to 2000
Stop out level: 50% / 20%
Minimum deposit: $5,000 / €5,000
Swap Account: Free
Trading currencies: USD, EUR
Spreads: from 0 pips
Leverage: 1 to 2000
Stop out level: custom
The broker supports a wide range of payment methods for deposits and withdrawals, including bank transfers, credit/debit cards, and e-wallets such as:Neteller, Skrill, SticPay, LetKnow Pay (cryptocurrency), Zotapay, Dragonpay, Payguru and VirtualPay with a minimum deposit starting at $5 for Cent accounts.
24/7 Live Chat
Telephone channel +44 20 80 97 62 00
Email [email protected]
BKFX is a Forex broker that offers a wide range of products and services. It offers a variety of account types, ranging from Cent accounts for beginners to those for experienced traders. It also offers leverage of up to 1:2000, which is attractive to traders looking to maximize their profits. However, the broker also has some drawbacks that could be a problem for many traders, especially the transparency of its license, which still raises concerns about security.
Additionally, the lack of clear information on fees and processing times has traders on edge, with some users reporting delayed withdrawals, which has impacted overall sentiment.
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BKFX Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions and more with real user reviews to help you decide which broker suits your needs.
