BK-Coin Review

• Company name: 

BK-Coin

• Registration Address/ License:

London, UK. Offshore License, No Regulation. 

BK-Coin claims its leading position in online trading and crypto-currencies offering, through a transparent and enjoyable way, with millions of clients in more than 50 countries around the world. The stated address and location of the firm in London, UK, as well as mentioned full regulation and operation under European regulators with numerous received awards for successful operation.

However, let us check on the above states and reveal the true facts. Unfortunately, they say an opposite situation, while the firm is authorized by none of the regulators and is not secured firm, important to mention that being a UK financial service firm the company license by FCA is mandatory. Therefore, the colorful and bright side of a BK-Coin broker is absolutely false information. 

In addition, the broker received a warning from a Belgium authority FMSA explaining how frauds work and why traders should be very careful while trusting or planning to engage in Crypto trading. 

“Once the fraudsters have your contact details, they offer you an investment they claim is secure, easy and very lucrative. They try to inspire confidence by assuring you that you don’t need to be an expert in cryptocurrencies in order to invest in them. They claim to have specialists who will manage your investments for you.”

FMSA, Belgium. October 2018.

In order to avoid such swindles, the potential trader advised to always verify the identity of the company, its legal and regulatory status and to be wary of companies that just claim authorization. In an instance, FCA Regulated Brokers are listed in the official regulatory website, so you can always check if the statement is true. In case a company cannot be clearly identified, it should not be trusted and avoided by any mean.