BKTrading Binary Broker Review
BKTrading, or Baumann & Krauss Trading to give it its full name, is one of the most professional looking brokerages that we have ever encountered and promises to offer a wide and varied array of trading options to suit many different trading styles and experience levels. In combining educational literature with a comprehensive trading platform and backing it up with round the clock support, the first impressions of the broker were certainly encouraging and we set about finding out exactly what was on offer throughout the entire site as part of our full review, kicking off with some of the most outstanding features.
The BKTrading Education Section
One of the keys to success in trading, especially for more experienced traders that know how to take advantage of them, is a selection of extra features that are by no means a given on any particular platform. Fortunately, you don’t need to be an expert in order to take advantage of what BKTrading has to offer virtually straight away as one of the most important elements of their overall offering is their training and education platform. This includes literature, videos and even image guides to put traders of any experience level firmly on the right track and the assistance offered throughout the site certainly does not end there. Traders can also take advantage of regular webinars, with live question and answer sessions that are simply designed to make them better, more successful investors. There are ebooks too, although the overall training package is far from static, as it discusses not just what to do and when but also the thought processes behind a variety of decisions. This allows traders to take the information given and mould it to their own needs.
This is all backed up by a variety of tools and informational pieces that tie in to strategy nicely, including reviews, trading signals and even regular contact with BKTrading’s own experienced traders, who are more than happy to offer pointers and tips to suit any trading style and experience level.
No Education Section would be complete without the chance to put some of this knowledge into practice without any risk and this is covered by the fact that BKTrading offers a fully functional demo account. It becomes available after creating a real money account and is ideal not just for gaining experience, but also for hands on knowledge of the platform itself which can be valuable even for the most experienced traders out there.
The BKTrading Platform
If you are an experienced trader then you will be pleased to know that you might not need any practice at all on the BKTrading demo account as the brokerage makes use of the ever popular SpotOption platform for all trading requirements. It is the most used platform in the industry and for very good reason, as it includes functionality that matches up to just about anything that any trader would want to achieve.
There is a huge amount of data at the fingertips of anyone that uses the platform and that can then be used to execute all manner of trades from High/Low options to One Touch options, and much more in between. There are plenty of assets on offer within the platform too, comprising stocks, indices, currencies and commodities and they are an eclectic mix of the familiar and the unusual, which once again ensures that traders will always have something worthwhile to look out for.
There are a couple of great extra features within the platform too. Firstly, if you are the kind of trader that enjoys having access to the latest information on your trades, and even the ability to place new ones, without being at your desk, then the mobile functionality of SpotOption is second to none. Only a couple of the potential trading opportunities from the main site are missing and if you mostly concern yourself with the most common types of trades then you’ll be able to do all of that and more using a phone or tablet.
BKTrading also makes use of the ProFollow trading feature, which allows all traders to take a closer look at the activities of the most successful traders on the platform. This could just be related to being nosey, but could also be the key to getting the best results – they are the most successful traders after all!
BKTrading Customer Service
Everything that we had encountered at BKTrading up to this point has been the height of professionalism and so we were more than happy to see that the support services measured up nicely. As noted in the introduction to this review, the support team is available at all hours and can be contacted instantly by live chat, telephone or Skype. For less pressing queries, there is also an email support option and even this, while not instant, usually leads to a response within just a couple of hours. Effectiveness is of course just as important as speed and we were highly satisfied with the responses that we received as part of our review questions.
The support at BKTrading was already pretty much perfect, and then we noticed that this support is also offered not only in English, but Russian and Spanish too. We would imagine that this is a sign of things to come as when you already offer one of the best support platforms in the industry, the only way is up and we can imagine BKTrading being at the pinnacle of options trading customer service for a long time to come.
Managing Your Money
Banking at BKTrading is simple but effective and while the brand does not support as many payment methods as some of the competition, there is certainly something for everyone. As long as you’re comfortable with credit and debit cards or wire transfers then you’ll be well accounted for here. Identity verification is required from all traders, but we’re all completely used to this being the case by now, and the process of adding funds was a smooth one.
Withdrawals are the only real downsides to the overall experience as the minimum withdrawal amount is rather steep in its own right and every withdrawal, regardless of the method used, is subject to a $25 fee.
BKTrading Review in Summary
BKTrading is as professional a brokerage as we have ever encountered and if traders are looking for a safe, reliable service then this one comes highly recommended. The true highlights of the brand are the educational resources and the customer support and the only real black mark preventing this broker from being one of the best is the pair of negatives surrounding withdrawals. For some traders, a $25 fee is not overly significant and if that is the case then we would suggest that everything else that the site has to offer more than makes up for it.