BKS Fintech is a Contract for Difference (CFD) broker established in Canada, registered on March 24, 2021. This broker primarily offers a multitude of trading markets through the MT5 trading platform, including forex, commodities, indices, bonds, digital currencies, stocks, futures, and more.
Company Registration Information and Regulatory Status:
Public information on the BKS Fintech official website reveals that the broker has multiple corporate entities, each regulated by different regulatory bodies.
The broker's business entity registered in Australia is BKS MARKETS PTY LTD, which holds an AR license from the Australian Securities and Investments Commission (ASIC), with license number 001304072. BKS Fintech's entity registered in Canada is BKS FINTECH CO LTD, with a business registration number of 1286155-1, regulated and authorized by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), and also registered with the National Futures Association (NFA) in the United States, NFA ID: 0466949. The broker's entity registered in Saint Vincent and the Grenadines is BKS FINTECH LLC, regulated and authorized by the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA), with license number 3040 LLC 2023.
Upon verification, the AR license held by BKS MARKETS PTY LTD in Australia expired on August 21, 2023, and subsequently, it has not obtained a license issued by the Australian Securities and Investments Commission (ASIC). Furthermore, both the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) do not regulate normal financial derivative trading. Additionally, BKS FINTECH CO LTD is registered as a non-member entity with the National Futures Association (NFA) in the United States, which does not regulate it.
Therefore, BKS Fintech essentially has not obtained any effective regulation.
Account Opening:
To open an account with BKS Fintech: visit the broker's official website homepage, click on “Create Real Account” to enter the account registration page, fill in the personal registration information as required, and submit. Once submitted, the account will be successfully registered.
Trading Accounts:
BKS Fintech offers a demo trading account and two different types of real trading accounts: ECN Account and Standard Account.
ECN Account:
- Trading platform: Meta Trader
- Trading commission (per side per lot): 7.0 USD
- Spreads from: 0.1 pips
Standard Account:
- Trading platform: Meta Trader
- Trading commission (per side per lot): 0 USD
- Spreads from: 1.0 pips
Trading Platform:
The BKS Fintech official website claims to offer the MT5 trading platform, but only the Chinese version of related pages can be accessed.
Deposits and Withdrawals:
BKS Fintech supports deposits and withdrawals using credit/debit cards, e-wallets, and other methods.
Conclusion:
Traderknows reminds investors that BKS Fintech is actually an unregulated scam website. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation for their investment and trading activities to avoid unnecessary financial losses.
Currently, this broker is marked as "suspected fraud" on Traderknows.
