Bika (bikait.com) has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.bikait.com.
After since I opened my account last year with Bika (bikait.com) I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: No hidden fees|Dividend tracking|Multi-device support|Comprehensive tools
Cons: Could offer more webinars|Wish they had more educational resources
The hidden fees at Bika (bikait.com) are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Helpful community forum|Risk management tools
Cons: Account statements could be more detailed|Help articles are sometimes vague
Bika (bikait.com) had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Market news feed|Clean UI
Cons: Live chat only during business hours
The only good thing about Bika (bikait.com) is that they remind you why regulation matters. I found them after my brother mentioned them. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Reliable uptime|Risk management tools|Multiple order types
Cons: Limited social trading features|Nothing significant
Bika (bikait.com) seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Tax reports included|Educational resources|Regular updates|Comprehensive tools
Cons: Could offer more webinars|Would like more payment methods
The spread at Bika (bikait.com) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them when my bank disappointed me and I searched for alternatives and initially thought the platform was good - until I started trading seriously.
Pros: Two-factor authentication|Real-time alerts|Clean UI
Cons: Some tools only available on higher tiers|Mobile app could be improved