BKYHYO

BKYHYO Information

BKYHYO is a brokerage from China, which mainly provides traders with trading instruments such as Forex, Commodities, Indices and Cryptocurrencies, and has 3 kinds of accounts for traders to choose from. But it is now an unregulated brokerage with minimal safety.

Pros and Cons

Is BKYHYO Legit?

BKYHYO is currently unregulated and operates outside the law. It carries a lot of risk.

What Can I Trade on BKYHYO?

BKYHYO says it offers traders a variety of trading instruments including forex, cryptocurrencies, commodities and indices.

Specifically, traders can choose from a variety of forex trading pairs such as EUR/USD, USD/JPY and GBP/USD to trade. There are also multiple cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Commodities such as oil, gold, silver and copper can also be included in the investment plan. In addition, many indexes such as the S&P 500, FTSE 100 and Nikkei 225 are also waiting for traders to arrive.

Account Types

BKYHYO offers three types of accounts - Standard account, Premium account and VIP account.

Of the three accounts, the minimum deposit requirement is $100 and the maximum deposit can be $25,000. The spread is inversely proportional to the account level.

In addition, both the Standard account and Premium account have a spread of 1:100, while the VIP account has leverage as high as 1:500/1:1000. As can be seen, BKYHYO's account audience is a variety of different types or levels of traders.

BKYHYO Fees

BKYHYO Spreads

BKYHYO provides three accounts with the spread of EUR/USD, GBP/USD, USD/JPY, Gold and Crude Oil.

Among them, the spread of EUR/USD for the three accounts remains between 1.0 and 1.5pips, which is relatively moderate. In general, the higher the account level, the smaller the spread for trading various instruments.

Non-Trading Fees

Trading Platform

BKYHYO supports three different trading platforms. They are MetaTrader 4(MT4), MetaTrader5(MT5) and MetaTrader WebTrader.

Deposit and Withdrawal

A total of 5 Debit and debit methods are provided by this broker, namely Bank Transfer (Domestic), Bank Transfer (International), Credit/Debit Card, E-Wallet(Skrill/Neteller) and Cryptocurrency (Bitcoin, Ethereum).

Except for the minimum deposit of $500 required by Bank Transfer (International), all other methods are $100. The minimum withdrawal for these methods varies from $10 to $250.

Customer Service

BKYHYO does not support 24/7 online services, it only publishes emails for traders to access customer service.

The Bottom Line

To be honest, the saving grace of BKYHYO is that it offers three trading platforms to traders, including MT4 and MT5. However, this does not obscure the defects, there are more problems and drawbacks, customer service only a way of email, and not regulated, these problems combined like a bomb, hidden dangers are very big.

FAQs

Are there any common instruments not included in BKYHYO's trading instruments?

Stocks, bonds and ETFs are not tradable on BKYHYO.

Is BKYHYO suitable for day trading?

No, it doesn't fit. The leverage and spreads offered by BKYHYO may be suitable for day trading, but regulation is lacking and it should be avoided.

How safe is BKYHYO?

BKYHYO is not regulated and is not safe.