BKEX Fees and Minimum Deposit - TU Expert review
After considering a crypto exchange’s security, examining its fees is the next crucial step. Lower fees translate to higher potential profits. Newcomers to crypto trading may also want to consider the minimum deposit required to start trading, as they might prefer to begin with a smaller investment.
Traders Union analysts have assessed BKEX fees and minimum deposit requirements to help prospective crypto traders make informed decisions.
Short introduction of BKEX
BKEX is a cryptocurrency exchange that offers spot trading with up to x100 leverage and over 1200 assets in the pool. Crypto-crypto and crypto-fiat exchange is available (US dollar is the only available fiat). The trading terminal of the exchange is based on TradingView in a browser; there is a free mobile application with functionality that is completely similar to the main platform. BKEX has some of the most transparent fees, with only fixed taker/maker fees and withdrawal fees. The exchange has a two-tier referral program that offers up to 30% of referral commissions. The main advantage of BKEX is a smart pool with flexible mining and staking. The exchange implements many programs with the ability to customize the investment mechanism according to specific parameters.
👍 Advantages of trading with BKEX:
•1,200 cryptocurrencies for trading, with the optionto buy/sell any asset for US dollars;
•there is a quick purchase with payment by a debit/credit card; all major deposit options are available;
•the platform supports funding in US dollars, euros, British pounds, yen, won and other currencies;
•traders can trade with leverage up to x100, regardless of the chosen asset and trading volume;
•fixed taker/maker fee does not depend on the activity of the trader, the indicator is average for the market;
•easy-to-learn trading platform, several types of charts, all major indicators;
•many investment programs, including staking and mining with flexible conditions.
👎 Disadvantages of BKEX:
•although funds can be deposited in multiple fiat currencies, only the US dollar is available for trading;
•the ticket system on the website is the only way to contact customer support; the exchange does not have a call center or email for communication;
•the company is not regulated, although it is officially registered in the British Virgin Islands.
BKEX Commissions and Fees
The crypto exchange does not charge a deposit fee(however, keep in mind that third-party services may charge it). Trading fees are fixed at 0.15% for the taker and 0.20% for the maker. They do not depend on external factors and do not change under any circumstances. The withdrawal fee is determined by the asset (as well as the limits for the day, month). Examples of withdrawal fees for the respective altcoins are 50 ADA, 0.0001 BCH, 0.1 BNB, 0.01 DASH.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | $2.5 | present |
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Crypto market:
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Spread – the difference between the buy and the sell price of an asset.
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Commission per lot.
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Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
Why is it important to consider the minimum deposit at a cryptocurrency exchange?
Accessibility: The minimum deposit helps traders determine if they can afford to start trading on an exchange.
Risk Management: Exchange-set minimum deposits ensure traders have sufficient funds to cover potential losses and fees, preventing financial overextension.
Platform Suitability: The minimum deposit amount can be an indicator of the exchange’s target audience and trading volume, aiding traders in selecting a platform aligned with their goals.
Cost Considerations: Assessing minimum deposit requirements helps traders account for trading expenses.
Are the fees and minimum deposit requirements at BKEX suitable for beginners?
Analysis of BKEX shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
FAQs
Can the minimum deposit differ depending on the trading account type?
Yes. Brokers often encourage clients to deposit large amounts to the account by offering better trading conditions.
If the fees are low, how does a broker make money?
As a rule, brokers with low fees earn on the fees thanks to high trading volume and also non-trading fees.
Can you cover the fees with bonuses?
Yes, it is possible. Some brokers offer a welcome or deposit bonus that can be used to cover the fees.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.