Bakkt Market is a CFD broker with its official domain registered on August 10, 2024, primarily offering retail and institutional clients trading services for financial derivatives such as forex, precious metals, crude oil, indices, and cryptocurrencies. This broker does not provide services to jurisdictions where it may violate local laws or regulations.
Company Registration Information and Regulatory Status
Public information on Bakkt Market's website(bakktmarket.com) shows that its headquarters are located in Denver, USA, and that it is one of the top 50 financial services companies in the U.S. Additionally, the broker claims to be regulated by the U.S. Financial Crimes Enforcement Network (FinCEN) and the National Futures Association (NFA) with MSB ID: 31000263262302 and NFA ID: 0561418.
Upon verification, the FinCEN website shows that MSB ID: 31000263262302 corresponds to "SMART GLOBAL." The NFA did not list any company with NFA ID: 0561418.
Moreover, the website design and content of Bakkt Market are strikingly similar to fraudulent broker sites like multgroup.com, concepmarkets.com, fdglobalfx, aocfxs, gomarketsforex.com, and ABASTR.
Therefore, Bakkt Market is actually a fraudulent broker website with no actual company entity or regulation.
Trading Instruments
Bakkt Market offers financial derivative tools such as forex, precious metals, crude oil, indices, and cryptocurrencies.
- Forex: Offers dozens of major currency pairs including EUR/USD, USD/CAD, GBP/USD, USD/JPY, etc.
- Precious Metals: Provides spot trading for various metals such as gold (XAUUSD) and silver (XAGUSD).
- Crude Oil: Offers trading for U.S. crude oil (UsOIL).
- Indices: Includes Nikkei (N225), DAX (GER30), and S&P 500 (US500).
- Cryptocurrencies: Offers dozens of major digital currency pairs including Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD), and others.
Account Opening Process
Bakkt Market Account Opening: To open a trading account, visit the broker's website, click on "Open Account" at the top right corner to enter the registration page, fill in your name, email address, phone number, and set up a password. After submitting the application form, the account will be successfully registered.
Account Information
Bakkt Market's website only lists information on spreads, leverage, and contract sizes, but does not disclose details about account types, trading commissions, minimum/maximum trading volume, maximum position/order volume, margin call/stop-out levels, or minimum price increments.
- Base Currency: USD
- Spreads: Floating spreads starting from 1 pip
- Leverage: 1:100
- Contract Size: 1 lot = 100,000 units of the base currency
Trading Platform
Bakkt Market claims to offer the Tradingweb platform for both desktop and mobile users, but the provided download link for the mobile version does not function properly.
Deposits and Withdrawals
Bakkt Market does not clearly state its supported deposit and withdrawal methods, associated fees, or minimum deposit/withdrawal amounts on its website.
Conclusion
Traderknows reminds investors that Bakkt Market is actually a scam broker website with no company entity or regulatory oversight. Additionally, the only contact method provided is through email. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
