BKTrading (Baumann & Krauss Trading) is a new binary options broker, started operating in early 2015. They use the familiar spotoption platform, used by other established companies. However, BKTrading is not regulated by CySec or any other authority and is not MiFID compliant. Because they are not covered by the MiFID guidelines, they are able to offer trading to US-based traders.
BKTrading’s main focus is on the trader’s experience, but what currently sets them apart from other brokers is the very low minimum deposit, just £10. Plus a 10% cashback on out-of-pocket (lost trades) options.
Here are some other important details about the BKTrading brand;
- Demo Account – No
- Minimum deposit – £10
- Minimum trade – £5
- Signal Service – No.
- Bonus Details – 100%.
- Mobile app – No.
Platform Features
BKTrading offers a familiar looking trading platform, based on the Spotoption model.
Option type is the first decision for traders (more details on each option type below). Traders can then select the asset type they are interested in. To the right of this asset type are four icons that allow the trader to configure the trade area according to their own preferences -. Ranging from a single trading window with full details, up to a set of rows, allowing access to multiple assets at once.
Beneath the asset classes is a specific asset selection, along with an expiry time and a trade amount (minimum trade with BKTrading is just £5). Both can be changed as needed. Following the trading parameters is the price chart for the asset. The timeframe can be modified to make it easier to identify the trend. Along the bottom is a ‘ trader’s choice bar, illustrating the direction in which trading sentiment is currently tilted. On the price chart is a ‘Strategy Advisor’ – this section covers some popular technical analysis tools against current price charts and gives trading advice based on the results.
To the right of the price chart are the trading buttons. The potential payout is displayed directly below the amount and will automatically update if the amount field is changed. Below that is the ‘protected’ payout and amount – this will show up when applicable. Just to the right of the payout information are the trading buttons. Like everything else, they are well defined, the Call and Put buttons include the relevant arrows and the strike price is placed between them – this changes color to reflect the most recent price change , up (green) or down (red).
Selecting one of the two trade buttons brings up the ‘transaction approval’ window, which is an opportunity for the trader to check the transaction details. The approval confirmation will trigger the trade and it will then appear in the ‘Open Positions’ window of the trading area.
The Open Position / Expired Positions window is located below the trading window and allows traders to keep track of all their open and closed trades. They are grouped into transaction types with all relevant details for each transaction listed below.
Trade options
BKTrading offers options on forex, commodities, stocks and indices. Their property list is pretty comprehensive. The index is the largest list. Coupled with the largest range of trading options of any broker, it means that traders using BKTrading will have no shortage of options.
They offer seven types of options:
Binary Options – Basic Binary Options. Will the property increase in value, or decrease?
Pairs – How will the two assets perform against each other? Generally, pairs are made up of two related stocks (e.g. BMW vs Daimler), but can also be offered against commodities (e.g. Gold vs Silver) or indices.
Long Term – Like a traditional binary option, but with a much longer expiration time, usually weeks or months.
Short Term – As the name suggests, binary options are very short term with very short expiry times. BKTrading caters for 60,90,120,180 and 300 expiry times.
One Touch – Will the asset price ‘touch’ a specific value at least once before expiration? At BKTrading, there is only ‘touch’ option (no ‘no touch’ option). The target price is usually a distance from the strike price – so the payouts can be huge – up to 1000% – which some traders may find useful during periods of volatility.
Ladder – Ladder offers a wide range of prices that can be traded in either direction. As the gain rises or falls from the strike price, the payouts can be larger if a large price movement is required for the trade to end in the money.
Forex – This is an option offered by very few brokers, so it is a great addition to BKTrading. 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 genuine Forex trading than binary options phân đơn giản hơn.
Mobile
BKTrading has not yet developed a mobile trading application.
Payout
Payouts at BKTrading are very competitive. The most traded assets see payouts of around 77%. As always, payouts will vary based on expiration time and chosen asset. Higher payouts are available with different trading options too. For example, the ladder or one touch options will provide substantial payouts for larger price moves. Forex also works ‘per pip’, so can generate higher payouts if desired.
Deposit and Withdrawal Options
Deposits to BKTrading can be made via credit cards (Visa, Mastercard, Diners and American Express). Wire transfers are possible, but carry a $500 minimum transaction – plus a £25 fee. Transfers may also be delayed, meaning funds may not be available for immediate transaction. The minimum deposit via credit card is just £10 – The initial deposit dictates the type of account a trader moves into (see table). Win $10 into ‘ Basic ‘ account, £1,000 ‘ Standard ‘, etc. – up to the ‘ VIP ‘ account – which sees traders who have paid 3% more on all trades;
Withdrawals are also processed based on account type, with VIP accounts having instant withdrawals.
Withdrawals are available through the same processes as a deposit – but with a £100 minimum. Traders must provide certain documents before withdrawals can be processed, these are the rules set forth by BKTrading;
1. Photo ID: This can be any public document such as a passport or driver’s license.
2. Proof of address, like receipts from the last 6 months of a utility bill.
3. A copy of the credit card must be submitted for investment. For your own security, please cover your card number on the front of the card, leaving only the last 4 digits, and also cover the CVV number on the back of the card, leaving the signature visible.
Withdrawal process is slower than other binary options brokers but there will definitely be big improvements as the company matures.
Other Features
BKTrading offers their clients the following features and benefits:
- TA Wizard – Technical analysis tool, available on price charts.
- Scope of educational materials – Includes seminars, books, financial reports and even 1-1 training
- 24/7 support
