WikiFX Review: Is BKYHYO LTD safe broker?

Actually, we received more than 25 requests from investors for help from WikiFX, they complaint that BKYHYO LTD is a totally fraud while some of investors doubt if it‘s reliable and convincible. Is New Zealand Visions Build safe broker？ Let’s do some research before we comment.

BKYHYO LTD has allegedly been offering high-quality dedicated Forex services for a long time, and they also claim to be one of the most effective brokers in the world. They are bold, but overconfident. BKYHYO LTD seems to be a UK based Forex dealer. As a leading British financial regulator, the FCA（Financial Conduct Authority）is accountable to the UK Treasury and aims to ensure honest and fair markets by protecting investors, protecting financial markets and promoting competition. The core work is to regulate the market behavior of financial companies, investigate misconduct, supervise financial products, and ensure that financial services meet basic requirements or standards.

We can see from the screenshot that the search results are irrelevant company information, which makes it clear that the company is not regulated by the FCA.

Then what about the NFA？ Being the one of the strictest and more well-respected financial regulator in the world, the NFA shows more convincing results.

As expected, the NFA register shows that although there is a company called BKYHYO LTD it is not a member of the NFA and is not subject to NFA oversight. This company is only registered with exemptions for commodity pool operator and commodity trading advisor, which prevents it from providing financial services in the U.S. This is a way of simulating credibility used by many fraudsters.

All this just shows that BKYHYO LTD has a high risk of trading, and it is illegal to engage in any financial activity that is not regulated by the FCA and NFA.WikiFX also paid a visit to the brokers official website to learn more.

Surprisingly, BKYHYO LTD trading software is good. They provide MT5, which are considered the best platforms for retail Forex trading.

However, the trading risks can be high as leverage is up to 1:200. Regulated brokers do not offer such levels to retail traders as trading with high leverage carries risks of sudden and excessive losses. A maximum leverage of 1:30 is allowed in the European Union and the United Kingdom and 1:50 in the United States.

The ratio has significant profit potential, but the dangers are overwhelming, so 1:200 should always be used cautiously!

Now let's search “BKYHYO LTD” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/1597894698.html), BKYHYO LTD has no valid regulatory license and the score is rather negative - only 1.28/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Given what has been discussed above, it can be concluded that BKYHYO LTD has a high risk of trading,. Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not.

All traders should be vigilant when investing in a broker. WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFX's official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!