Contents
- 1 BKFX Basics
- 2 Our Opinion About BKFX
- 3 Key Benefits
- 4 Advantages of Trading With BKFX
- 5 Regulation And Safety
- 6 Regulation In Kenya
- 7 Client Fund Protection
- 8 BKFX Forex Awards
- 9 BKFX: Legit Or Scam?
- 10 Trading Assets
- 11 Trading Instruments
- 12 Account Types
- 13 Live Accounts
- 14 Leverage
- 15 Commissions & Spreads
- 16 Demo Accounts
- 17 Islamic Swap-Free Accounts
- 18 BKFX Bonuses
- 19 BKFX Any Deposit Bonus
- 20 BKFX Registration – How To Open A Trading Account
- 21 BKFX Registration – How To Verify A Trading Account
- 22 Deposits & Withdrawals
- 23 Trading Platforms
- 24 Trading Tools
- 25 Education And Research
- 26 BKFX Customer Support
- 27 Our Verdict
- 28 BKFX Forex Broker Review FAQ
BKFX Basics
| 🏛️ Based in | Limassol, Cyprus |
|---|---|
| ⚖️ Regulation | FSCA |
| 💰 Minimum Deposit | $5 |
| 💳 Deposit Options | Debit Card, Credit Card, Bank Wire, Neteller, Skrill, Sticpay, LetKnow, Zotapay, Dragonpay, and Payguru. |
| 💳 Withdrawal Options | Debit Card, Credit Card, Bank Wire, Neteller, Skrill, Sticpay, LetKnow, Zotapay, Dragonpay, and Payguru. |
| 📌Open an account | Start Trading with BKFX |
Our Opinion About BKFX
BKFX is a leading online forex broker that provides traders with access to the global foreign exchange market. With over many years of experience in the industry, BKFX has established itself as one of the most reliable and trusted brokers for retail and institutional clients alike.
BKFX offers excellent online trading services. They offer their clients access to competitive spreads on major currency pairs such as EUR/USD, GBP/USD and USD/JPY. They also provide tight spreads on exotic currencies like AUD/CAD or NZD/CHF. When it comes to trading technology, they provide market-leading trading platforms. They also offer many market research and charting tools. This enables you to analyze price movements and make informed decisions about your trades.
Finally, they are committed not only offering great services but also helping their customers. They provide many free educational resources such as webinars, tutorials, eBooks etc. This helps ensure that all users have sufficient knowledge before they start investing their money into this highly volatile markets. They also provide excellent customer support. Their customer service team is available 24/5, via phone or email, should you need any assistance with your account.
Key Benefits
Advantages of Trading With BKFX
BKFX is a reliable and trusted forex broker that offers its clients easy access to the global financial markets. With their advanced trading platforms, competitive spreads, and fast execution speeds, they provide traders with an ideal environment for successful trading. Here are some of the advantages you can expect when trading with BKFX:
- Low Spreads: BKFX offers tight spreads on many major currency pairs so you can reduce your trading costs and maximize your profits from every trade.
- Fast Execution Speeds: You won’t have to worry about slippage or delays in order execution as trades are executed quickly and efficiently at all times.
- Advanced Trading Platform: Their trading platforms come with a wide range of features including charting tools, technical indicators and automated strategies.
- Security & Regulation: Your funds will be safe when using this broker’s services as they operate in line with industry standards relating to client funds protection measures.
Regulation And Safety
Regulation In Kenya
BKFX is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa. It complies with all their regulations and it is a safe, trustworthy forex broker.
Client Fund Protection
At BKFX, they take the security of our clients’ funds and data very seriously. They have implemented a number of measures to ensure that your trading experience is safe and secure. These include:
- Segregated Accounts: All client funds are held in segregated accounts with top-tier banks, ensuring that your money is kept separate from our own operational capital at all times.
- SSL Encryption: Their website uses SSL encryption technology to protect any personal information you provide them with when signing up for or funding an account.
- Firewalls: They use advanced firewalls and other technologies to protect against cyber threats such as malware attacks or unauthorized access attempts on our servers.
- Internal Audits: Their team regularly reviews internal procedures related to customer service, risk management, compliance monitoring etc., so as to maintain the highest security standards.
BKFX Forex Awards
BKFX has not won any forex industry awards for its services recently. However, they are still a well-known and reputable online trading service provider.
BKFX: Legit Or Scam?
BKFX is a legit forex broker. They are a reliable, regulated forex provider based in South Africa. They offer excellent trading conditions, great account options, and a safe trading environment. They also offer detailed market analysis, advanced trading tools, and great customer support.
Trading Assets
BKFX offers 100+ trading instruments from five major asset classes including forex, crypto, shares, commodities, and indices.
Trading Instruments
- Forex: They offer trading on 30+ forex instruments including many major, minor, and exotic currency pairs. They have EUR/USD, GBP/USD and USD/JPY.
- Shares: BKFX also offers a great range of CFD shares including popular brands such as Alibaba, Amazon, Apple, Coca Cola, eBay, Boeing, and more.
- Cryptocurrencies: They offer trading on 10+ crypto trading instruments including Bitcoin, Litecoin, Ripple, Ethereum, and Dash.
- Commodities: BKFX also offers trading on a small selection of CFD commodities including UK oil, US oil, gold, platinum, and silver.
- Indices: They offer trading on many major CFD 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: the Cent Account, the Standard Account, the Premium Account, and the Raw Spread Account. All of their account types come with great trading conditions including deep liquidity, fast trade execution, and low slippage rates. They also come with competitive pricing including low minimum deposits, low spreads, and zero commissions.
| Type | Spreads | Min. Deposit | Max. Leverage | Commission |
|---|---|---|---|---|
| Cent | From 1.8 pips | $5 | 1:2000 | $0 |
| Standard | From 1.5 pips | $100 | 1:2000 | $0 |
| Premium | From 1.0 pips | $1,000 | 1:2000 | $0 |
| Raw Spread | From 0.0 pips | $5,000 | 1:2000 | $0 |
Live Accounts
As part of our BKFX broker review, we checked their live trading accounts. In our opinion, their best trading account is the Standard Accounts. This is their main trading account and great choice for new forex traders in Kenya. The spreads start from 1.5 pips and there are no commissions. It also comes with leverage of up to 1:2000. It gives you access to 100+ trading instruments. The BKFX minimum deposit is $100 and the best available base currency is USD.
Leverage
The BKFX broker has variable leverage options ranging from 1:1 to 1:2000.
Commissions & Spreads
When it comes to trading forex, broker fees can have a significant impact on your trading costs and your overall profitability. As such, it is important to understand how broker fees work, what the BKFX broker fee structure looks like, and roughly how much you will need to pay.
BKFX does not charge any fixed-rate commissions for forex trades; instead they make their money from spread-based commissions. This means that they earn money from the spread between the bid/ask prices of each currency pair. BKFX has fairly low spreads which means that your overall trading costs should be fairly low too. However, the spreads are variable, and change depending on your account type and on general market conditions.
Demo Accounts
The BKFX demo account is a great trading tool and a very helpful resource for new forex traders. Their demo account lets you trade with virtual money – instead of real money – so there is no risk involved. It allows you to practise your trading skills in a safe environment and learn how to trade forex properly before moving on to a live trading account.
Islamic Swap-Free Accounts
All of the BKFX accounts are available as Islamic swap-free accounts.
BKFX Bonuses
If you’re looking for forex bonuses, BKFX often has special offers. Their forex promotions typically include no deposit bonuses, welcome bonuses, deposit bonuses, and refer-a-friend bonuses. They updated their bonuses regularly and they frequently add new ones to their website.
BKFX Any Deposit Bonus
BKFX is currently offering a forex deposit bonus to new traders. It is worth up to 30% of your deposit. To access the BKFX bonus, you will need to open a trading account, add your first deposit, and start trading forex. It’s worth noting that there are other bonus terms and conditions that apply, and you should check their website for more details. Here are a few things to keep in mind:
- The Bonus is credited instantly and automatically on each deposit.
- The Maximum Bonus awarded is $5,000.
- The Trading Profit created from the Bonus is withdrawable.
- The promotion is allowed for only one Trading Account per client.
- The Maximum Leverage is 1:2000.
- The Bonus is removed upon margin call (50%) and upon negative balance.
- The Bonus is removed proportionately on any withdrawal.
BKFX Registration – How To Open A Trading Account
As part of our BKFX broker review, we checked their online registration process. If you live in Kenya, then you are eligible to open a BKFX trading account. Signing up for a trading account is easy. To get started, you simply need to go to their website, complete the online registration form, and select your preferred login details. This is so that they can gather a few details and start creating your account. Next, you need to take a quick online trading test. This is so that they can see how much you know about forex trading, and decide if you have enough trading knowledge to safely use their services. Lastly, you need to complete the account verification process, submit copies of the requested documents, and fund your trading account.
BKFX Registration – How To Verify A Trading Account
As part of our BKFX broker review, we also checked their account verification process. It involves sending BKFX copies of certain documents. This is so that they can complete their regulatory checks and approve your online trading account. 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. Once you have provided the correct documentation, they will activate your account, so you can add funds and start trading!
Deposits & Withdrawals
BKFX has a wide range of payment methods including Neteller, Skrill, Sticpay, LetKnow, Zotapay, Dragonpay, and Payguru. There are no deposit or withdrawal fees.
Trading Platforms
When it comes to choosing a broker, it is important to check what trading platforms they have to offer. BKFX has one of the most popular and reliable trading platforms in the industry – MetaTrader 4. This platform is available for both desktop and mobile devices, allowing you to trade on-the-go from anywhere in world with an internet connection. The BKFX MT4 platform also provides advanced charting capabilities, automated trading systems (EAs), custom indicators and more – making it ideal for traders who want full control over their trades.
Trading Tools
BKFX has a nice selection of trading tools. You can get access to free economic calendars, technical analysis, and market news. You can also get access to:
- ZuluTrade: ZuluTrade is the world’s largest social trading platform. BKFX gets you free access to a ZuluTrade account, enabling you to access a pool of professional traders and their trading systems. You can use these tools to find expert traders and copy their trading strategies.
- Expert Advisors (EAs): EAs are programmes, which when implemented into the trading platform enable you to perform automated trading. Each EA is unique and can be set up according to the needs of the trader.
- VPS 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.
Education And Research
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.
BKFX Customer Support
At BKFX, they understand that customer support is an essential part of any successful forex trading experience. That’s why they provide their clients with a comprehensive range of customer service options to ensure their needs are met in the most efficient and effective manner possible. Their team of experienced professionals is available 24/7 via phone, email or live chat to answer any questions you may have about their services or your trading account.
Our Verdict
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.
BKFX Forex Broker Review FAQ
Yes, BKFX in Kenya is a good broker. They have a nice selection of trading accounts and trading instruments. You can choose from 100+ trading instruments including forex, cryptos, stocks, indices, and commodities. They also offer high leverage, low trading costs, and fast execution. In our opinion, they are a good broker and a good choice for Kenyan traders.
Yes, BKFX is a legit broker. They are a reliable forex provider as they are regulated by the FSCA in South Africa. This ensures fair trading practices from them along with other security measures like encryption technology for data protection and secure payment processing systems for deposits/withdrawals. In our opinion, BKFX is a legit broker and a good choice for Kenyan traders.
Yes, BKFX is a regulated broker. 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.
Yes! Your funds will be securely stored in segregated accounts held by top-tier banks which ensures they remain separate from our own operational capital at all times.
The BKFX Standard Account. This is their main trading account. It is a great choice for new forex traders in Kenya who are looking for low-cost trading accounts. The spreads start from 1.5 pips and there are no commissions. It comes with leverage of up to 1:2000. It gives you access to 100+ trading instruments. And the minimum deposit is only $100.
Yes! BKFX provides its clients with an array of powerful trading tools such as automated trading systems (EAs), charting packages, market analysis software and more that can help you make informed decisions when it comes time to trade in the markets.
Yes! Customer service at BKFX is top notch. They have dedicated teams available 24 hours a day via phone call or live chat so that you get help when needed quickly and efficiently no matter where in world you may be located!
BKFX is a great forex broker. They have a great choice of account types, including both cent accounts, and low-cost standard accounts. They also have excellent trading conditions, cutting-edge trading platforms, and useful trading tools. However, if you want to consider other options, there are also many other great forex brokers. We recommend looking at HotForex, FXTM, FXPesa, Exinity, and Instaforex.
Ready to sign up? Register for an online trading account with BKFX here.