BKForexAdvisor.com, BKTraderFX.com Review

3.749 • 74 REVIEWS
Out of business Boris Schlossberg and Kathy Lien
Updated: May 23, 2022
Websites are down.  Company seems to be out of business.
BKForexAdvisor.com, BKTraderFX.com
Out of business
3.749 • 74 REVIEWS

Recent User Reviews of BKForexAdvisor.com, BKTraderFX.com

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Peter
Melbourne, Australia,
Apr 14, 2022,
Guest

Boris uses his EAs and Bounce to trap traders into long term memberships.

Service use: Live Length of use: 6-12 Months
Boris and Kathy use their names and reputation to trap people into fx training courses that are just repeats of the last one. A so called new one arrives in your email every day. Boris uses his so called bounce to extort money out of people by forcing them into up front yearly or lifetime memberships, he promises one thing and then changes the goal posts. Kathy makes so many trades that a fortune is spent in trading fees, same with Boris. Boris has an EA with indices that makes such miniscule profits ,if any. I f you take the costs of their courses into consideration you can not possibly come out on top. They advertise that you only need to trade one hr. per day. Boris supposedly 18 hrs. figure that one out. Most of that time his is working on new ways to take your money. SCAMERS AND DOING VERRY WELL OUT OF IT.
1 trader has found this review helpful
H
HonestStraightforwar
Singapore, Singapore,
Jul 28, 2021,
Registered user

BKForex is only for the gullible

Service use: Live Length of use: over 1 Year
unprofessional. can make promises without conscience of delivering accordingly.

i sent them emails and replies are inconsistent and moody.

i realized that if they were truly that consistent in making money, why would they still need to provide this service? it doesnt make sense. i figured, they needed this money to fund their loses.
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Dan
florida, USA,
Jun 2, 2018,
Guest

BK-Not for you

BK Forex are good at explaining the technical aspects of currencies but, if your looking to make a good living BK signals are not the way. Signals are not consistent and over stated in their marketing. The Trade Copy system in my opinion is not worth the time. You will lose money between the broker fees and the computer latency. I stopped using the trade copy after the first week after I reviewed their results and my actual results which were less than half what BK stated. When questioned they said talk to my broker. The webinars are not professional and you will not learn from them. I wont get into the scalping except that 5-10pips will not get you anywhere after broker.
I am sorry for this review but, it is hard enough to make money in this business and you must learn and not rely on someone else. Training-Training-Training
2 traders have found this review helpful
D
DubaiFX
Dubai, United Arab Emirates,
Dec 17, 2017,
Registered user

Expensive Scrap

I have been with them for more than 6months. Initially I had high expecations, due to their marketting hype. For example there was a thread called "Kathy's Big Trades" finally they closed that thread and opened a new thread called "Kathy's Day Trade Ideas". They simpley dont have idea about trading. During NFP Boris will do a trade for 1-2pips, and talk for 1hour about how wonderful his strategy is.
Thereare some guys hanging around there because they have already bought 1year signal service.
So far they have fished about 600-700 people, but so many are now abandoned it even after paying. On top of that they will try to upsell so many expensive scaps.
When compared to other products in the market thier services are too expensive so be careful.

Many of you, will be tempted to enrol; just like i did, my simple advice is just go slow, before you buy whole lot of things, just try smallest possible thing if you get value commit yourself. Dont waste your hard earned money!!!!!!!
Good Luck
2 traders have found this review helpful
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Pacv
KANSAS CITY, USA,
Nov 3, 2017,
Guest

May not be worth membership fee

I've been with BK Trader for two years and have lost quite a bit of money following their trades. They have a copier trade system where their trades can be automatically copied into your account. There are several trade copying that you can choose from and I have tracked all of them. At the best they may break even or be up every so often but given a longer time frame they seem to lose big and it takes a very long time to make it back.

Boris has good insight and his strategies are okay. He makes changes to his strategy very often which is not a bad thing but to follow and learn all the changes and apply them is very time consuming. It also makes it hard to backtest when strategies keep changing. I would trade his strategy and keep records of my wins/losses and then the strategy would be modified and I would then have to rerecord my wins/losses and in the end I couldn't figure out what really worked and what didn't. Their Profit to Stop Loss ratio tend to be very high (win 10 pips but lose 100 pips) but they say their strategy has such a high win rate (over 70%) that you don't get stopped out that often. I found the opposite to be true. There were times when trades would get stopped out a couple times a week on trades that are done only once a day. I'm not convinced by the time you pay the yearly membership and follow their strategies that you will make money by the end of the year. My instinct is that if you used free strategies that are all over the internet you may not be too far off from BK's returns by the time you took into account the membership fees.
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rusintheus
California, USA,
Jul 21, 2017,
Guest

Very poor results after two weeks of using their service.

I signed up with BK following Kathy's analysis on investing.com. She seemed knowledgeable and inspirational. I have checked BK asset mgmt website and decided to join for a month to test their signal service.

Two stars to BK for setting up alert e-mails, a dashboard, running several chat rooms on Slack, and live trading sessions.

My complaints are:

1. Kathy does not like to post negative pips which amount to about 50% of my two-week experience of her daily scalping trades on "Kathy's_day_trades" channel. The other channel, "easy_to_follow_trades" had amassed about 600 (!!!) negative pips in just a couple of weeks. The wins were in a range of a 100 pips or somewhere in that category. She keeps on chasing losses, it seems. Kathy likes to trade in exotic currencies, such as NZDCAD and AUDNZD, without truly understanding the minute dynamic of developments of these respectful economies which are treacherous. She closes trades with "out of NZDCAD," without stating that it's a -190 or -275 pip loss. No amount of MM will be able to handle these massive losses. When I appealed to Boris, all that he said was, use smart MM - trade such that it does not impact my account. This argument can go the other way - winning, even a lot of wins, wouldn't impact it either which then discredits the entire reason to enter Forex trading market.

2. She deletes negative responses posted in chat rooms regarding her losses.

3. She exaggerates wins by rounding up wins in her favor. For some reason, I have gotten twice less profits on a few occasions when her trades were accurate.

4. Her live trading sessions are hard to follow - she vocalizes what trades she posts in between Boris trying to advertise his robot. At least that was my impression.
1 trader has found this review helpful
O
oraclesoon
Singapore,
Feb 3, 2017,
Registered user

Not worth subscribing

Despite celebrities Kathy and Boris have written several books and are popular on TV and seminars, I think their real trading skill is quite naive.

1. They don't publish their real trading result online. This is already fishy. As a user of MetaTrader and some Auto trading websites, we know it is very easy to publish trading result online to stand up for examination.

2. Subscriber will receive the alert email. The email is simply entry price, take profit and stop lose. No reason and no education.

3. The signal is not much better. Sometimes win, sometimes lose. Their average Profit is less than 5 pips (I couldn't believe), average Lose is more than 10~30 pips. A few Lose will wipe out many small Wins. Sounds familiar?

4. Kathy will post many financial news as if she is expert. In reality, price action doesn't go in sync with financial news. And she has no idea.

5. In their live trade GotoWebinar, their chart screen is clean! They don't draw any indicator! Boris just anyhow chased after the price and placed order. No wonder his trading result is so unstable.

6. With 3, 4, 5, now I understand why they can't publish their trading result online.
1 trader has found this review helpful
J
jonathan Weaver
Texas, USA,
Mar 26, 2013,
Guest

I think its like anyone and anything, you win some, you loose some. I was with them the first month and most of the signals they gave went the wrong way, but I confirmed their signals with what I was seeing. I still lost about 45% of my account. I wouldn't put this on them though because I joined another service and noticed they were not any better. I think over all if youe have a large enough account to suffer some loss, in the long run you will come out ahead.
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Pavel Ashkenazi
Bulgaria,
Mar 28, 2011,
Guest

After having 1 year annual service, I wrote to them that I don't want to renew it. They didn't put attention and subscribed me for 1 more year with payments on quarterly basis, just after my complaint they canceled it. Not a conduct of a fair company. BEWARE
D
DEAN H ANDERSON
CHICAGO, IL,
Apr 4, 2010,
Guest

I have traded with BKT for approximately 1.5 years, and have had success with their signals. The last two months have been extraordinary, with one losing trade out of the last ten or so...

I find the service to be reliable, prompt in their communication to subscribers, and extremely helpful in explaining techniques and approaches to trading FOREX.

Since there is always a 'downside', let me say that I find that BKT is far more successful in a bullish economic environment than in a bearish one. BKT rarely signals SHORT sells, but rather BUYS most of the time. When economic news is GOOD, BKT does well. When economic news is BAD, I feel that BKT isn't as responsive to short sell opportunities.

Having said that, I'm renewing my subscription. I've booked profit with BKT, and once subscibers are in a 'winning' trade, BKT typically manages that trade extremely well - milking it for every last PIP to be had.

Watch out, though, when the market turns bearish. BKT tends to stick with long trades even when the market seems to call for shorting, and if there is a weakness in their approach, it's being "optimistic" when the market calls for pessimism.