Opinion about BKTrading

IMPORTANT: For security reasons we cannot recommend this broker. However, in our domain you will find an entry with the best online brokers of 2021 to help you choose a portal that suits your needs while ensuring secure transactions and operations.

BKTrading offers the possibility of investing in binary options through its platform. If you want to know everything about this broker, we invite you to read this review where we will analyze the security of its services as well as many more things.

As a summary, we can tell you that we are not dealing with a company that has a dollarpea license to offer financial services. Therefore, whenever you are going to interact with her, we recommend that you do it very carefully and with small amounts of money. If, on the other hand, you prefer to work with a more secure broker, be sure to check our page about online brokers , where we offer you some of the best possibilities on the market at the moment.

Our experience with BKTrading

In this case, the experience is somewhat confusing, because uncertainty surrounds the information they offer about their services and terms and conditions. Among the little that can be specified, there is the fact that the company does not have a license and, therefore, has no obligation to follow the precepts of MiFID, nor other security measures advisable for investment institutions. So is BKTrading a scam? The truth is that it is not, or at least, we are not aware that it is, but this does not mean that we should not be careful when depositing our hard-earned money in the possession of a company that does not offer us security guarantees.

Is BKTrading a scam?

We have no evidence that BKTrading is a scam and, therefore, we do not believe that it is. From there, a user could decide to open an account at this broker, but we believe that he would fall into unnecessary risks.

One detail that we do not like at all is that on the broker's homepage it is implied that the company with which we are going to operate is called Actiserver Advertising S.L and has its headquarters in Barcelona, specifically in Passeig de Sant Joan street, 160, 08037. However, if we look closely, before this address, in the text it says "processed by" and indeed when we check the terms and conditions, we can see that the company that manages the broker is not the one we have just mentioned, but B&K Investment based in Oualie Ln N 459 Federation of Saint Kitts and Nevis. An address, which on the other hand does not appear anywhere in the English version of the terms and conditions.

We do not know exactly what BKTrading's relationship with the Barcelona company consists of, but we do know that the Catalan company is dedicated to online marketing and SEO, so even if they were the managers of BKTrading, which in principle does not seem to be the case, it would not offer us the necessary confidence as an investment broker since this is not their business activity. In addition, even accepting that the investment company does not lie to its users, because it catalogs the New Zealand company as a processing provider, making it clear that it is not the company that manages the investments, everything seems to us a double game that contributes nothing to transparency.

Something that confirms our assumption that the Catalan company is a simple provider of online marketing services for this broker that concerns us, is the fact that the customer service phones that we can see on the web are from the USA, Mexico and Argentina, but not from New Zealand, so we assume that the New Zealand company, has nothing to do.

Investment offer

The investment offer of the platform should be very good to justify our concerns regarding security. Naturally, this is not the case, but quite the opposite. Here you can invest in binary options and little else. They do not have an educational content section, nor do they offer anything especially relevant that is worthy of mention in our article. From the looks of it the service is limited to binary options and absolutely nothing else.

Depending on the income you make, you will be categorized into one type of account or another. The most basic type is the broker Account from $ 250 with which they advertise a 10% return but do not explain well how. The second type is the signals Account, starting from $ 2000 with which they advertise a 300% return. Finally there is the autotrading Account, starting from $5000, associated with a 450% profitability. Let's not kid ourselves, our opinion is that these returns are more a reason to doubt the broker than to open an account.

Binary options trading

The supply of underlying assets of BKTrading is very limited. Specifically the following: 2 commodities, which are the most common: gold and silver, and the cross they assume with each other, gold/silver, and 20 currency pairs. Nothing more. Our visits were on business days and with stock market trading and at that time they did not offer a single stock or a single stock market index. Given this fact, we can only say that the supply of underlying assets is quite poor.

The same does not happen with the types of binary options where they do offer some diversity: classic, short-term, long-term and ladder. At the moment, what they do not offer is the one touch option type, a minor loss, if we compare it with the fact that you cannot trade with company shares.

Welcome bonus

Although they do not currently offer a generalized welcome bonus to all their users, the terms and conditions do include a section for the bonus. It stipulates that any bonus received entails the obligation to have to trade a volume of 30 times the value of the bonus received. If it is a question of withdrawing the money without having fulfilled this condition, the withdrawal order will be canceled and the money will disappear from the account. Therefore, a lot of caution.

BKTrading payment methods

The entry and withdrawal process is very similar to usual. They accept both credit cards and bank transfers, but when you are going to choose your method you should keep in mind that the withdrawal method must be the same.

It is important to be aware of some particularities of the costs of this service. Withdrawals by credit card are free, but for bank transfers there is an associated cost of $25. To withdraw your money, depending on the type of account you have, you will have to make 15 trades if your account is a Broker, 10 if it is Signals and 5 if it is Autotrading. If you do not do them, they simply will not allow you to take out the money. The minimum amount of these operations is $ 25. In addition, if you want to close the account there are also important fees that amount to $ 50 for the broker Account, $ 150 for the signals Account and $500 for the Autotrading Account.

BKTrading security and regulations

The security of BKTrading leaves much to be desired. As we said in the previous section about the possibility that the company is a scam, we do not believe that we are talking about a company that is a fraud. However, we would not put our money on it either.

First of all in this company we have no guarantees about where they keep our money while it is in their possession. There is no mention of segregated accounts or anything that shows that they have them, from which it follows that in case of insolvency of the organization, customers would be left without their money. To top off the problems in this same case, the company is also not part of any type of investor compensation fund.

We also don't like the certainty with which they announce the profits. Although many brokers sell a little smoke, in this case the benefits are talked about as if they were a fact. In addition, it is stated that the company's profits come from the margin difference that there is between 75% -80% of profits of a client who hits a trade, up to 100% of it, but the operation of binary options is not like that and it is well known that companies win when their users lose. Therefore, we strongly recommend anyone who is thinking of opening an account at this broker not to follow the investment instructions of the broker or its agents, as the conflict of interest is prominent and the company does not carry out any procedures to avoid it.

Other negative details are that as you will see in the next section there is not enough information about the customer service and that we have not detected the use of SSL technology to encrypt the information that is exchanged between your computer and the web, so that when logging in, you could be compromising your username and password, not to mention when you make money income.

Customer service

About customer service there is practically no information, so we can practically not have an opinion. We can see several phones on the web for the USA, Argentina and Mexico, but there is no phone on Dollarpa nor is there a contact form, a live chat or a sad email address offered. Needless to say, there is also no information about their schedules or availability.

Functionality of the website

In this section we have nothing negative to say. The website is perfectly operational and it is easy to navigate through it. The only but that we can put is that it does not have extra sections as it happens in most other brokers, such as an educational section and a frequently asked questions section. But in short, the objective of the web is to invest, not to train, and it is something that can be done with a classic interface in which all the information about the investment is sufficiently clear: price, expiration date, underlying asset, etc.

Mobile application

At the moment, there is no possibility to invest through any type of mobile app. Therefore, if you want to invest from your mobile, the most practical option would be to enter the browser that you usually use for the internet from your mobile and use the mobile version of the web. It is not ideal, because you will have to play with the zooms to see the full screen or be able to read the texts, but at least it will help you to do the operations that are necessary in case of emergency.

Finding

BKTrading is not a scam, but it is a broker that has not convinced us at all. Security guarantees are non-existent and there is even some ambiguity about the location of the company's headquarters. It does not have a license and, therefore, if an insolvency occurs, the client's deposits would be absolutely lost since they would not be separated from the organization's treasury in any way. The customer service is conspicuous by its absence or at least, the information related to it. As for the investment offer, the software itself is good, but the offer of underlying assets is clearly insufficient, since it only amounts to 22 and ignores the possibility of investing in stocks and economic indices. Therefore, in our opinion, the offer could only be interesting for someone who focuses on the forex market, gold and silver.

Our recommendation is that you visit our list with the best binary options brokers and choose one from there, since you will be able to sleep much calmer at night, at least when it comes to thinking about the treatment they give to your money.