BKYHYO emerges as a dubious brokerage, marked by an enigmatic name and a reluctance to disclose pertinent information about its operations or trading terms. In fact, the scant noteworthy details we did uncover appeared to be deceptive, leaving us with no alternative but to categorize BKYHYO among the suspected fraudulent entities. This BKYHYO review delves into comprehensive details concerning this broker – encompassing its offerings and the inherent risks tied to trading with it.
Website – https://www.bkyhyoltd.com/
Website Availability – No
Address – 212 Avenue Drive Glasgow Scotland G40 2NS
Warned By – Not recommended by review websites like Scam Bitcoin
Regulated – Unregulated
Domain Age –
|Date Registered||June 17, 2021|
|Domain Age||2 years, 1 month, 22 days, 16 hours, 40 minutes, 50 seconds|
BKYHYO Review: Regulation
BKYHYO LTD is a forex broker, with registration in the United Kingdom, extending an array of trading instruments to its clientele. But the lack of credible licenses raises concerns about BKYHYO legitimacy as a broker, as it might lack the essential authorizations to operate. Furthermore, a series of grievances have been lodged against BKYHYO within recent months, underscoring potential risks and indicating a plausible scam scenario.
BKYHYO presents itself as regulated by the National Futures Association (NFA), but there is a notable absence of a provided physical address or contact number for the broker. Our examination of the NFA Basic registry system yielded predictable results – BKYHYO is not listed as a member of the NFA.
BKYHYO employs deliberate tactics to deceive customers, fostering a deceptive illusion of safety. This very behavior stands as compelling proof that those overseeing the BKYHYO brand and its website are indeed individuals engaged in fraudulent activities.
The broker provides its clients with the MetaTrader 5 (MT5) platform, which is a commendable selection. Nonetheless, it’s important to keep in mind that BKYHYO displays all the characteristics of a fraudulent operation. Consequently, it’s advisable to steer clear of this broker.
BKYHYO Review: Trading Conditions
Their MT5 demo account exhibited an impressively tight spread of 0.1 pips on EUR/USD, without any accompanying commission charges. Such favorable pricing, though, often raises skepticism when associated with a legitimate broker. Moreover, the broker provides leverage of up to 1:1000, a level of risk that could be excessively hazardous for traders.
Deposit and Withdrawal Methods
We were unsuccessful in locating any related information. Nevertheless, the majority of brokerages typically facilitate transactions through bank wire, debit, or credit cards (Visa, MasterCard, Maestro), as well as various e-wallets like PayPal or Skrill. The broker’s website doesn’t provide any insight into their minimum deposit. Nonetheless, it’s important to be aware that opening a standard forex trading account should not require an initial investment exceeding $250.
Is it safe to invest with BKYHYO?
Absolutely not! Generating profits with a broker such as BKYHYO, which openly presents false information on its website, is highly improbable.
Initially, the individual comes across the fraudulent website operated by the scammers. At this stage, they are prompted to establish an account and provide their mobile number. Regrettably, scammers exploit this avenue of communication by incessantly calling to demand deposits. They relentlessly extract funds from their victim until the individual either realizes the deception or depletes their funds. At that juncture, the fraudsters cut ties and proceed to target fresh victims.
BKYHYO Review: Conclusion
BKYHYO cannot be considered a trustworthy broker for traders, despite the enticing offers it presents. The reality is that BKYHYO LTD lacks regulatory oversight. Funds invested with this broker are exposed to risks and are not safeguarded by any legal measures.
If you’ve fallen victim to the BKYHYO scam or any other form of deceitful scheme, there’s a route available to seek help and resolution. Our Scam Bitcoin platform provides a solution – we’ve provide a complaint form tailored to tackle concerns related to fraudulent brokers. By using this form to submit your complaint, you gain access to a free consultation with our team of experts, dedicated to guiding you through your situation.
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