It has come to our attention that BKTrading is a SCAM that falsely told us that they accept US traders. The review below has been kept intact for archival purposes, but we have added BKTrading SCAM warnings everywhere. Please revert to Nadex at this time.
Full disclosure: We get paid a commission fee if you sign up using any of the links on this site.
BKTrading SCAM which is also known as Baumann & Kraus Trading SCAM, is a new binary options broker with German roots giving them 20 years of experience in the market. This means that even though they are a relatively new binary options broker, they only launched their platform in 2015, they have lots of experience to draw on.
The processing for BKTrading SCAM is provided by Actiserver Advertising S.L., with registered address at Passeig de Sant Joan, 160, 08037,Barcelona (Spain, ), NIF nº: B63293849. Their US phone number is: +1 347 410 8503
Recent changes related to the SpotOption based platform, and their quest for CFTC regulation has caused them to temporarily halt taking on new US based traders. Due to the gap this has left in the market, we have started to receive questions about alternative brokers that accept USA traders, one of these being BKTrading SCAM, so let’s take a more in-depth view at what they have to offer.
How To Trade Binary Options on BKTrading – SCAM
Watch the video below to get a quick introduction on how to trade using the BKTrading SCAM platform.
- $10 Minimum Deposit (Not a typo)
- $1 Minimum Trade (Not a typo)
- $100 Minimum Withdrawal
- Live Chat Support Available
- Up to 85% Returns
- $1000 Maximum Per Trade
- Withdrawals Processed Within 3 Business Days
- Established in 2015
- Accepts US Binary Options Traders (UPDATE: DOES NOT ACCEPT US TRADERS)
BKTrading – Scam or Not?
UPDATE: We are blacklisting BKTrading, they have been reported by a very reliable source in the binary options industry as an unreliable broker. They also do not accept US traders, even though we were told that they do.
We haven’t signed up with BKTrading ourselves yet, but checking on forums and other insider resources, we have not picked up on any negative reviews. At the moment we have no reason to believe that BKTrading is a scam. BKTrading along with TradeThunder, will be our primary suggested brokers for US-based traders that do not want to use Nadex, which is the only fully CFTC regulated US binary options exchange. We will of course continue to monitor their performance, and if we hear of any problems, we will immediately post our findings here, so as always, we encourage you to sign up to our blog to receive updates.
They have a relative wide set of trading assets, although they only provide the top 12 currencies, such as: EUR/USD, GBP/USD, USD/JPY, USD/CAD, EUR/GBP and EUR/JPY.
The interesting part of their offering is that they have one of the largest sets of indices and stocks that I have come across for binary options brokers. They offer 19 stocks, including companies such as Apple, Nike, Microsoft and Reuters. Their options for indices cover 20 indices, which covers basically all of the well-known indices that you would consider trading, as well as a few interesting ones that might be a bit more exotic.
Clicking on one of the assets gives you a very handy quick overview, as well as the trading times for the asset. Here’s an example showing the NASDAQ:
Support is provided primarily in English, but also in Spanish, Portuguese and Russian. They provide telephonic support, as well as an online chat which is available during regular market times. When live chat is not available, for example over weekends, you are still able to leave a message and they will respond as soon as the markets open. I’ve found their support to be good and very responsive.
In order to protect you and to comply with regulations, all brokers will ask you for a form of visual identification, such as a driver’s license, as well as the last 4 digits of your credit card and proof of residency. This is normal and you should expect to be asked for this type of documentation. However, it is important to note that they should allow you to blur or block out your driver’s license number and the first digits of your credit card.
Please share your views with us below, and thank you for taking the time to read this review, we hope that it helps you to make an informed decision.