BKTrading (Baumann & Krauss Trading) is a new binary options broker that started operating in early 2015. They use the familiar spot options platform used by other companies. Yet BKTrading is not regulated by CySec or any other body and is not MiFID compliant. Because it is not covered by the MiFID guidelines, it can offer trading to US-based traders.
BKTrading’s main focus is on the trader experience, but what sets them apart from other brokers right now is their minimum deposit of only £10. 10% refund on options that end in the money (loss of trade).
Other key details about the BKTrading brand include:
- Demo account – No
- Minimum deposit – $10
- Minimum transaction – $5
- Signal service – no.
- Bonus information – 100%.
- Mobile App – No.
Platform features
BKTrading offers a familiar looking trading platform based on the Spotoption model.
The option type is the first decision for traders (see more about each option type below). Traders can then select the asset category they are interested in. To the right of the asset categories are four icons that allow traders to configure the trading area according to their preferences. A set of rows to access numerous assets at once.
Below the asset categories is the expiration time and trade amount, along with the specific asset selection (minimum trade with BKTrading is £5). You can change both according to your needs. Below the trading parameters is a graph of the asset’s price. Time ranges can be modified to make it easier to identify trends. At the bottom, there is a ‘Trader Selection’ bar that shows you which direction trader sentiment is currently leaning. The price graph has a ‘Strategy Advisor’, which overlays common technical analysis tools on the current price graph and provides trading advice based on the results.
To the right of the price graph is the Trade button. The payout amount is displayed directly below the amount and automatically updates when the corresponding amount field changes. Below that you will find Payouts and ‘Protected’ amounts. Displayed where applicable. To the right of the payout information is the Trade button. Like everything else, it is clearly identified, the call and put buttons include associated arrows, and the strike price is placed in between. It changes color (green) or down (red) to reflect the most recent price movement.
Selecting one of the trade buttons will bring up the ‘Accept Trade’ window. This is an opportunity for traders to double-check their trade details. Upon confirmation of your approval, your trade will start and appear in the ‘Open Positions’ window in your trading area.
The ‘Open Positions/Expired Positions’ window is located below the trade window and allows traders to track all open and closed trades. These are grouped by transaction type and we have all relevant details for each transaction listed below.
Choose a deal
BKTrading offers options on Forex, Commodities, Stocks and Indices. Their list of assets is very comprehensive. The index is the largest list. With a wide range of trading options from every broker, traders using BKTrading are spoiled for choice.
They offer 7 options:
Binary Options – Basic binary options. Are asset values rising or falling?
Pair – How do two assets perform against each other? Usually pairs consist of two related stocks (e.g. BMW vs Daimler) but can also be offered for commodities (e.g. gold vs silver) or indices.
Long term – Same as traditional binary options, but with much longer expiry times, usually weeks or months.
Short Term – As the name suggests, very short term binary options with very short expiry times. BKTrading accepts expiry times of 60,90,120,180 and 300 seconds.
One Touch – Can the price of an asset ‘touch’ a certain value at least once before its expiry time? Only ‘touch’ option is available in BKTrading (there is no ‘no touch’ option). Because the target price is often far from the strike price, payouts can be very large, up to 1000%.
Ladder – A ladder provides a set of price levels that can be traded in both directions. As the price rises or falls relative to the strike price, the payout can be larger if a large price movement is required for the trade to end in the money.
Forex – This is a great addition to BKTrading as this is an option offered by very few brokers. It allows traders to trade currency pairs ‘per pip’, setting a stop loss and a target price. It is an innovation that brings traders closer to true forex trading than the simple form of binary options.
mutable
BKTrading has not yet developed a mobile trading app.
Payout
BKTrading’s payouts are very competitive. The most traded asset pays out about 77 %. The payout will depend on the expiry time and the asset selected. More payouts are available with other trading options. For example, ladder or one touch options offer substantial payouts for larger price movements. Forex also works on a ‘per pip’ basis, so you can generate larger payouts if you wish.
Withdrawal and deposit options
BKTrading deposits can be made via credit cards (Visa, Mastercard, Diners and American Express). Bank transfers are accepted but there is a minimum transaction of s500 and a fee of £25. Transfers may also be delayed. This means that your funds cannot be transacted immediately. The minimum deposit via credit card is just s 10 – the initial deposit will vary from the trader’s transfer to the account entered (see table). s 10 in ‘Basic’ account, £1,000, ‘Standard’ and more – up to VIP’ account – an extra 3% on all transactions to see what you paid for.
Withdrawals are processed according to account type, VIP accounts are processed instantly.
Withdrawals can be made through the same process as deposits, but there is a minimum of 100 s. Traders are required to provide certain documents before processing withdrawals. Here are the regulations stipulated by BKTrading.
1. Identification: This can be a public document such as a passport or driver’s license.
2. Proof of address, such as a receipt received within the last 6 months of a utility bill.
3. You must send a copy of the credit card used for the investment. For security, please show your card number on the front of the card, only the last 4 digits, and also the CVV number on the back of the card to show your signature.
The withdrawal process lags behind other binary options brokers, but will improve significantly as the company matures.
other features
BKTrading offers its clients the following features and benefits:
- TA Wizard – a technical analysis tool available on price charts.
- Various training materials – including seminars, books, financial reports and one-on-one training
- 24/7 support
