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Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.
In the fast-paced world of forex trading, choosing the right broker is crucial. Vantage and BKFX are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between Vantage and BKFX across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated Vantage and BKFX, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.
In our comparison:
Based on these findings, Vantage earned a higher trust rating than BKFX.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that Vantage has overall lower trading costs than BKFX.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both BKFX and Vantage offer copy trading.
A broader range of CFD instruments provides more trading opportunities. Vantage offers a greater variety of instruments compared to BKFX:
For those interested in trading cryptocurrencies, BKFX offers 11 cryptocurrencies, while Vantage offers 0 cryptocurrencies. Therefore, BKFX is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that neither BKFX nor Vantage charges a withdrawal fee. Overall, BKFX has better deposit and withdrawal processes than Vantage.Â
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.Â
Vantage has better educational support than BKFX. Both BKFX and Vantage offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that Vantage offers better research analysis than BKFX and that both BKFX and Vantage offer frequent webinars.
Vantage will appeal to traders who value low trading costs and use indicators to make trading decisions. Be aware that Vantage's financial instruments are somewhat limited compared to other similar brokers.Â
An STP/ECN broker, Vantage offers three accounts with minimum deposits linked to tighter spreads and lower trading costs. The commission-free Standard Account requires a minimum deposit of 200 USD but spreads start at 1.0 pip on the EUR/USD. Trading conditions improve significantly on its Raw ECN and Pro Accounts, which have 0 pip spreads and reasonable commissions, but minimum deposits of 500 USD and 20,000 USD, respectively.
CFD's available at Vantage include Forex, indices, energies, metals, shares, and cryptocurrencies, but there are a limited number of assets per class which may leave more experienced traders dissatisfied. Vantage is great for trading platform choice though, with MetaTrader 4, MetaTrader 5, and the Vantage app in addition to three social trading platforms.
WARNING: As of 06/09/2022 BKFX has ceased operations and is no longer accepting new clients
Founded in South Africa in 2017, BKFX is an FSCA-regulated broker offering trading on a range of financial instruments, including 40 Forex pairs, 7 indices, 5 commodities, 12 cryptocurrencies and 39 share CFDs.Â
BKFX offers four live accounts with a range of minimum deposit requirements to suit traders of all experience levels. Trading costs are higher than other STP/ECN brokers, with spreads starting at 1.8 pips (EUR/USD) on its Cent Account but improve to 1 pip (EUR/USD) on the Premium Account, in exchange for a high minimum deposit of 1,000 USD. However, BKFX does not charge any deposit, withdrawal or inactivity fees and provides negative balance protection for all traders.
Unlike other brokers who offer several trading platforms, BKFX only offers support for MT4, but it does allow hedging, scalping and algorithmic trading. It also offers a VPS service at an additional cost and a PAMM Investor service for those interested in copy trading. BKFX’s educational and market analysis materials are relatively limited compared to other brokers, making it a poor choice for beginner traders
For more detailed reviews, please read our comprehensive assessments of Vantage and BKFX.
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Broker | Countries Regulated | Minimum Spread EUR/USD | Minimum Deposit | Trading cost/lot EURUSD Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission. | Broker Score | Broker Website | Select and Compare |
|---|---|---|---|---|---|---|---|
 | | 0 pips | AUD 0 | USD 4.50 | |||
 |      | 0.10 pips | USD 3 | USD 7 | |||
 |     | 0 pips | USD 0 | USD 10 | |||
 | | 0.10 pips | USD 200 | USD 8 | |||
 |  | 0.70 pips | USD 10 | USD 17 | |||
 |    | 0.90 pips | USD 100 | USD 9 | |||
|  | 0.60 pips | USD 5 | USD 6 | |||
 | | 0 pips | USD 0 | USD 10 | |||
 | | 0.70 pips | USD 5 | USD 7 | |||
 | | 0 pips | USD 100 | USD 6 |
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