Forex
CFD
80/100
Rating
Go to bkfx Forex
Highlights
  • 40 different currency pairs to trade
  • High leverage of 1:500
  • VPS allows you to trade Forex in a more efficient environment
80/100
Rating
Go to bkfx CFD
Highlights
  • Crypto CFD trading options available
  • Access to a variety of international commodity CFDs
  • Low spreads on share CFDs

BKFX Review South Africa 2021

Is BKFX Safe & Legit?

BKFX is a multi-faceted online broker serving clients from all over the globe. With multiple trading platforms and a rewarding new customer offer, there’s certainly plenty to write home about in our BKFX review.

This online broker has continuously expanded its current offering and now boasts a comprehensive platform with a large variety of instruments as well as trade accounts that cater to all client requirements. Keep reading our latest BKFX reviews to find out more.

Company
Company-
Headquarter
Year of Founding-
CEO-
Web Sitebkfx.io
Available Languages-
Customer Support
Email[email protected]
Phone+44 20 80 97 62 00
Licence
FSCA - South African Financial Sector Conduct Authority
Verified by-
Payment Methods
Skrill
Neteller
STICPAY
LetKnow
PayRetailers
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Offers and New Customer Experience - Instant deposit bonus

You are entitled to claim a generous initial deposit bonus as a new customer with BKFX. All that you will be required to do is create a valid account and make a deposit. Once you have deposited real money funds, you’ll be eligible for the 30% deposit bonus. The maximum bonus amount that you can receive is capped at $5,000. Your account will be credited with the bonus amount instantly.

Bear in mind that maximum leverage is 1:1000 while bonus funds will be removed from your account proportionately to any withdrawal made during this time. A negative balance and a margin call of 50% will trigger bonus removal, too. Claiming the actual bonus is simple and will boost your trading funds immediately.

Usability - What is BKFX?

It’s always important to find out whether an online broker has an intuitive and easy-to-use trading platform. It’s the cornerstone of a user-friendly experience and will certainly have you coming back more often than not. The actual BKFX website has a simple design which allows you to navigate across the platform with ease. It also enables potential customers to find out all they need to know about the services and features on hand.

It’s no wonder BKFX reviews are so promising in terms of overall design and user-functionality. The platforms at hand, including the mobile app for iOS and Android, is highly-responsive and enables you to capitalize on trading sessions throughout the week without any hindrance or delay.

Accounts - several types to choose from

There are four different account types that come up in our latest BKFX review. You will find that the latest Coinbase review also includes more than one account type, allowing a variety of different customers to get involved. You can choose between the Cent, Standard, Premium, and Tailor Made Account. The available account base currencies for all accounts are either USD or EUR. All four accounts have max leverage of 1:500 while minimum deposits increase exponentially from the Cent Account upwards to the Tailor Made Account.

The Cent Account does not have personal customer service and only includes 50+ symbols as opposed to the 100+ symbols for all other account types. In addition, the Cent Account has fees attached to deposits and withdrawals. All account types permit an unlimited number of positions and provide you with access to basic educational material. It’s important to note that you can open an account at all hours of the day. Plus, no inactivity fees are charged!

Trading Platforms - Find the right interface for your trading needs

Our BKFX review, as you may have seen in our latest eToro review, assessed the different trading platforms at hand. You’ll be able to utilize the MT4 Client Desktop, MT4 WebTrader, the MT4 iPhone and iPad, or MT4 Android platform. Thus, there is something for everyone. The MT4 Client Desktop platform is a third-party interface which can be downloaded directly to your device. This provides you with a platform which has automated trading capabilities, advanced charting tools, and much more.

Of course, the two mobile trading platforms can be downloaded from the respective app store. The app is flexible and gives you direct access to your account without having to visit your web browser. The MT4 WebTrader is a great fit for those who do not wish to download any software. It’s fully web-based but still uses trading robots with built-in analysis tools and a variety of trading features.

Trading Payments - Use a secure option online

It’s pertinent that online brokers take the time to ensure customers have a number of secure online payment methods available to use. Our BKFX review has found that you can make a deposit using one of several options. You can link your bank account in order to make bank transfers. You’ll also be able to deposit using Skrill, Neteller, an online credit card or prepaid card, Zotapay, Help2Pay, Payguru, and PayTrust88. Bear in mind that minimum deposit amounts depend on your account type:

  • Cent: $5
  • Standard: $100
  • Premium: $1,000
  • Tailor Made: $10,000

You’ll need to visit the ‘Funds’ section of your account and click on ‘Withdraw Funds’ to find out which payment methods are available to you. You need to have a fully-verified account in order to do so. In addition, make sure you have made a deposit before trying to withdraw any funds from your account.

Skrill
Neteller
STICPAY
LetKnow
PayRetailers

Fees – Dependent on account type and trading preference

It’s always vital to gauge the standard pricing policies of an online broker before you get started. This allows you to avoid any unnecessary fees and ensures that you aren’t exploited. Our BKFX review has noted that the Cent Account, which is the most basic account type, comes with a base fee for payments. You will be charged a small fee when making deposits and/or withdrawals. The fee is dependent on the amount you wish to transfer. Be sure to double-check this before confirming a transaction.

Trading fees are not clearly outlined on the site and will hopefully be added to the website in due time. Additional fees, over and above trading fees, are extremely low. This makes the BKFX site very appealing to traders who wish to break into the world of online trading.

Customer Service - Any BKFX scams?

Time and time again, we find that the best online trading platforms are committed to quality support across the board. Without it, customers find themselves unable to rectify any pressing issues that may present themselves. Fortunately, our BKFX review delved into the support capabilities of the platform and came back with good news. The site offers a live chat feature with response times of less than one minute. You’ll be able to communicate with an agent on the go.

Alternatively, you can submit an online form to the multi-lingual team or call them on their domestic, or international, line. Support is available 24/7 and this certainly bolsters our latest rating of BKFX.

Regulation and Deposit Insurance - Is BKFX safe?

The latest BKFX review would be remiss not to highlight the regulatory oversight of the platform at hand. BKFX is authorized and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. Thus, this online broker is permitted to provide trading services to the general public. It must adhere to all regulatory guidelines and ensure a consistent standard of trading services throughout its existence.

Our BKFX review also noted that the broker is authorized and regulated by the Saint Vincent and the Grenadines Financial Services Authority. BKFX has segregated all client funds in reputable banks. Safety of client funds is non-negotiable and we’re happy to find that deposit protection is implemented for all customers.

Additional Features - Boost your knowledge with extensive educational resources

There are a few noteworthy features that come with this online trading site. Our BKFX review has found that it’s possible to get started by using a demo account. It’s a feature that doesn’t come with all online brokers and is certainly a great idea for those who are yet to have engaged in online trading. It’ll help you find your feet and provide you with the much needed impetus to get your fledgling trading career off to the right start. The demo account allows you to get the hang of the latest tools and features without having to spend any real currency.

Secondly, we must commend BKFX on the catalogue of educational resources. From video tutorials to ebooks and audiobooks – it’s a great platform to enhance your overall trading knowledge and acumen. It’s also clear that this trading platform is committed to ensuring your safety as two-step authentication is on offer. This will give you full oversight over your account and mitigates the chances of unauthorized entities accessing your account and funneling your trade funds out of your account.

You’ll also be privy to a daily news video that streams effortlessly from your account. This will put you at the forefront of any changes and keeps you up-to-date with market sentiment and movements. Be sure to use this feature to your advantage as you’ll gain new insights and tips.

bkfx Forex

Trade Offer - Over 40 forex pairs

You will come to find that there are 40 different forex pairs on offer. Our BKFX review has found that there are a number of major pairs as well as minor and exotic pairs. You can trade pairs such as AUDCAD, USDZAR, GBPUSD, and much more. You will be able to trade 24/5 and have the ability to swap long or short.

Trading Costs - Varied prices

The latest costs involved with trading forex is rather unclear. If you find yourself using the Cent Account, then you’ll be paying a fee on deposits even before you start trading. From here, it’s important to get to know what other fees may affect your balance before placing trades. We’ll be sure to update our BKFX review if a pricing policy is made more evident in the future.

Trading Conditions - Depends on your chosen pair

Naturally, you’ll find that the trading conditions depend on the forex pair in question. For example, the pip value per lot for USDZAR is R10 while the typical spread is 1,000. A standard lot size is $100,000 – the average lot size you’ll familiarize yourself with on trading sites.

Product Summary - Great for forex trading

There are a fair number of forex pairs for you to trade with. The platform is geared toward those looking to forex online. Real-time updates and access to a variety of different pairs makes it a comprehensive trading experience. Plus, you can implement dynamic leverage and even utilize copy trading strategies to enhance your exposure and overall approach.

80/100
Rating
bkfx Highlights
  • 40 different currency pairs to trade
  • High leverage of 1:500
  • VPS allows you to trade Forex in a more efficient environment
Go to bkfx
bkfx CFD

Trade Offer - Over 39 share CFDs, and more to trade

You’ll be able to trade CFDs on indices, commodities, shares, and cryptocurrency. This is exciting as you needn’t purchase the underlying asset but can simply speculate in price changes. Our BKFX review found that there are 39 share CFDs which are slightly limited in scope. However, you can also trade 7 CFD indices, 5 CFD commodities, and 11 cryptocurrencies against mainly the dollar. It’s also possible to trade BTC/EUR on this platform.

Trading Costs - Zero fees on most account types

Once again, trading costs are rather difficult to nail down. As we’ve outlined before, all accounts except the Cent account, have zero fees on deposits and withdrawals. However, you’ll need to pay account management fees for the Tailor Made account type.

Trading Conditions - From $0.01 - $10 per lot

The pip value per lot for crypto CFDs range from 1 cent for BTCUSD and such, to $1 for EOSUSD, IOTAUSD, and XRPUSD, to $10 for TRXUSD. The standard lot size for share CFDs is 100 shares while typical spreads hover around 16-17. Pip value per lot for commodity CFDs is $1 except for XAGUSD which is $5.

Product Summary - A small amount of CFDs to trade

Truth be told, there is a rather limited number of instruments to trade. Our BKFX review has found that the CFD options are far less than on other prominent trading platforms. However, it does allow you to focus on a more focused approach. There are a decent number of crypto CFDs which can be traded against the dollar and, in one instance, the euro. Fortunately, the trading platforms will make up for the lack of variety as it provides you with a seamless experience with high-end trading tools at your disposal.

80/100
Rating
bkfx Highlights
  • Crypto CFD trading options available
  • Access to a variety of international commodity CFDs
  • Low spreads on share CFDs
Go to bkfx

BKFX Review FAQ

❓Is BKFX reliable?

It’s vital that you take the time to find an online trading platform that is reliable and secure. It’s extremely risky to use an online broker that does not tick these two aforementioned boxes. As you’ll note in our latest IronFX review, we analyze each component of the trading platform in question to ensure that you are in good hands.

🔎What instruments does BKFX offer?

One of the most important aspects to find out about when assessing an online trading platform are the instruments that you will have access to. In our latest BKFX reviews we’ll be sure to outline precisely which instruments are on offer and how you can go about getting involved.

📲Can I use a BKFX mobile trading app?

You will come to find that there are a number of online brokers which have invested the necessary time and effort so as to ensure that you can access your account via a comprehensive app. This streamlines the entire process. Take a look at our latest BKFX review to find out more.

🔮Can I trade BKFX crypto online?

There are always multiple trading products on hand with the best online broker sites. One of the most popular in this day and age is cryptocurrency. Whether you are reading our latest Plus500 review or the BKFX reviews, we’ll be sure to bring your attention to any crypto trading options.

👉What’s the latest BKFX experience and rating?

The best online trading sites will provide you with a quality experience; regardless of whether you are a novice trader or experienced online trader. However, it is important to read our latest reviews at TraderBest.com. This will help you pinpoint the right platform for you. Take a look at our latest BKFX review to find out what the BKFX experience and rating is.

Overall Conclusion - Our latest BKFX review

Our latest BKFX review has come to an end. You will find that there are several reasons to rejoice at the fact that BKFX is in business. Flexible account types with low additional fees allow you to find the right account and trading platform for your trading approach and budget. 24/7 support enables you to seek help in the event that you require it. Plus, there are a number of instruments that can be traded when using the BKFX platform.

The multi-asset broker, with low spreads and an exciting new customer bonus, should certainly be considered as a viable broker to sign up with. If you have not taken to this platform as you may have hoped, you can always check in with TradersBest.com. Take a peek at our latest Forex.com review or find out more about an array of competitors – there is bound to be an online broker that ticks all the right boxes for you.

80/100
Rating
bkfx Forex
*****
Go to bkfx Forex
Highlights
  • 40 different currency pairs to trade
  • High leverage of 1:500
  • VPS allows you to trade Forex in a more efficient environment

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