BKEX Review: A Scam Broker That Is Not Reliable

Is BKEX Legit or Scam?

The answer is not clear-cut. While BKEX offers numerous trading features and a mobile app, several factors raise red flags:

• Unregulated: Operating from the British Virgin Islands, a region known for lax financial regulations, BKEX lacks crucial licenses from established authorities, raising concerns about consumer protection and potential manipulation.
• Negative Reviews: A significant portion of online reviews (nearly 40% on Trustpilot) express negative experiences, including withdrawal issues and unresponsive customer support.
• Opaque Ownership: The platform’s ownership structure remains unclear, further hindering trust and transparency.

Company Overview:

BKEX, a cryptocurrency exchange founded in 2018, claims to offer a diverse range of trading options. However, before entrusting your hard-earned money, it’s crucial to understand the platform’s potential risks and red flags. This review aims to provide an unbiased and comprehensive analysis of BKEX, highlighting concerns and potential pitfalls.

Services or Products:

BKEX offers spot trading, contract trading, staking, mining, and a referral program. However, their educational resources are limited, and they primarily focus on news updates.

If you have lost money to companies like StargazeCapital, or EminiFX Financial; please report it to us on our report a scam form.

Trading Platform & Leverages:

BKEX utilizes a proprietary platform with features like spot and contract trading, staking, and mining pools. They also offer leveraged trading with a maximum ratio of 1:100, which can amplify both profits and losses and is not suitable for all traders.

Spreads and Cost of Trading:

BKEX provides transparent fee structures. Maker fees start at 0.15%, taker fees are 0.2%, with VIP accounts offering discounts. However, withdrawal fees vary per cryptocurrency, and they don’t support fiat (traditional currency) withdrawals.

License and Regulations:

The lack of regulatory oversight from established authorities is a major concern. This absence of checks and balances increases the risk of manipulation, fraud, and potential loss of funds.

Legal Warning Against BKEX:

While not explicitly stated as a legal warning, the platform’s lack of regulation and negative user experiences serve as a strong cautionary message for potential users.

Deposit and Withdrawal Methods:

BKEX only allows deposits and withdrawals in cryptocurrency. Their withdrawal fees can be substantial, and concerning reports of withdrawal difficulties raise further red flags.

BKEX Pros and Cons:

Why Dealing With An Unlicensed Broker Is Risky:

Unlicensed brokers operate outside the stringent regulations and oversight of established financial authorities. This lack of oversight increases the risk of:

• Fraud: Without proper safeguards, investors are more vulnerable to fraudulent activities and scams.
• Manipulation: Unregulated platforms can manipulate markets in their favor, leading to unfair losses for traders.
• Fund Loss: In case of disputes or platform closure, recovering funds can be difficult, if not impossible.

Client Feedback:

Numerous online reviews, while not the sole basis for judgment, raise concerns about BKEX’s customer service. Many users report difficulties with withdrawals, unresponsive support, and other issues.

How Can “ReviewsAdvice” Help You If You Get Scammed?

While recovering funds lost to scams can be challenging, “ReviewsAdvice” offers resources and guidance to help users navigate the process. This may include assistance with:

• Gathering evidence: Documenting interactions with the platform and any proof of lost funds.
• Reporting the scam: Filing complaints with relevant authorities and regulatory bodies.
• Exploring legal options: Depending on the nature of the scam and the jurisdiction, legal action might be possible.

We will provide you recovery service recommendations, which will help you in recovering the lost funds or you can report to us today by the below form.