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BKFX – Forex Broker Review 2022

About BKFX

BKFX is a regulated broker based in South Africa. They have great account options, excellent trading conditions, and powerful trading platforms. BKFX offers many helpful resources including educational materials, video tutorials, and demo accounts. It also offers detailed market analysis, advanced trading tools, and access to high leverage.

Key Benefits

Regulation

BKFX is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa with License no. 49288. Therefore, the company complies with all local regulations and can be considered a trustworthy provider.

Fund Safety

BKFX has many measures in place to protect client funds. It keeps client funds in segregated bank accounts. This guarantees that client funds are not used for any activities related to BKFX. It also has automated negative balance protection. This means that client balances never drop below the level of the original amount deposited. Finally, it ensures all of its trading systems are fully encrypted with SSL (Secure Sockets Layer). This means it uses a standard security protocol that enables maximum protection against fraudulent activities.

Trading Platforms

BKFX uses one of the industry’s most popular and most reputable platforms – Metatrader4. The company offers several different versions of the platform. You simply choose which version you want to download based on your preferred device.

MetaTrader4

MetaTrader4 (MT4) is great for new forex traders. It is a user-friendly platform that comes with many handy, built-in trading tools. You can use it to trade all of the most popular trading instruments including forex, stocks, and indices. The MT4 trading platform has helpful charting tools, 4 order execution types, 30 technical indicators, and 23 analytical objects. You can use these trading tools to work on your market analysis and create your own trading strategies.

Trading Instruments

BKFX offers 100+ trading instruments from five major asset classes including forex, crypto, shares, commodities, and indices.

  • Forex: You can choose from 30+ forex trading instruments including major, minor, and exotic currency pairs.
  • Shares: BKFX also offers more a great range of shares including Alibaba, Amazon, Apple, Coca Cola, eBay, Boeing, and more.
  • Crypto: You can trade 10+ crypto trading instruments including Bitcoin, Litecoin, Ripple, Ethereum, and Dash.
  • Commodities: BKFX also offers trading on a small range of commodities including UK oil, US oil, gold, platinum, and silver.
  • Indices: You can trade many major indices across the US, UK, and EU markets. They have the S&P 500, the FTSE 100, and the DAX 30.

Account Types

BKFX has four main account types. These are the Cent Account, the Standard Account, the Premium Account, and the Tailor Made Account. Each account type comes with different trading conditions. Moreover, each account type also has a swap-free Islamic account option.


Spreads

Instruments

Minimum Deposit

Max. Leverage

Commission

Cent

From 1.8 pips

50+

$5

1:500

N/A

Standard

From 1.5 pips

100+

$100

1:500

N/A

Premium

From 1 pip

100+

$1000

1:500

N/A

Tailor Made

From 0 pip

100+

$10 000

1:500

N/A

Deposits & Withdrawals

BKFX offers a great selection of payment methods. The main options are Neteller, Skrill, Sticpay, LetKnow, Zotapay, Dragonpay, and Payguru. There are no deposit or withdrawal fees.

Education

BKFX offers a wide range of educational materials including video tutorials, eBooks, audio books, and a forex glossary. Their content is suitable for new traders who need to get a better understanding of how forex trading works and how to use a trading platform. It is suitable for more experienced traders who would like to improve their technical analysis skills. However, it is worth noting that although the content is free, you need to register for an account in order to access most of the educational materials.

Extra Trading Services

BKFX also offers VPS services. With these services, you can benefit from lower latency, better connectivity, and faster trade execution. This is helpful if you want to trade using expert advisors or using more advanced trading strategies.

Documents

Opening an account is easy. You only need to provide BKFX with proof of ID and proof of address. For example, the proof of ID could be a copy of a valid passport, a driver’s license or another government-issued identity card. Whereas, the proof of address could be a copy of a recent utility bill or bank account statement.

Support

It is easy to get in touch with the BKFX Support team. You can contact them via live chat, as well as by phone. In addition, you can email them directly at [email protected]

Conclusion

BKFX is a reliable, regulated broker. The company prides itself on its transparency, its trustworthiness, and its ability to offer a great online trading experience. It also prides itself on its excellent trading conditions, innovative technology, and excellent customer support. As a broker, therefore, it offers a great service suitable for all traders.

Ready to sign up? Register for an online trading account with BKFX here.