This is because when trading a USD quoted currency pair with a GBP account, there will be a small conversion fee for every trade made. Overall, GKFX Prime’s trading fees are higher than average on its Standard Account and lower than average on its Premium Account, but this requires a minimum deposit of 25,000 EUR. In line with these regulatory requirements, GKFX does not offer its traders bonuses or promotions and participates in a client protection program, namely the Investor Compensation Scheme . The ICS safeguards traders against financial failure or insolvency cases and provides up to 20,000 EUR per trader should the company be liquidated. GKFX is the largest international company offering advanced financial markets services.
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Virtual funds of up to 100,000 USD/EUR/GBP are loaded onto the demo accounts. GKFX offering various types of accounts for both retail and corporate clients to suit trading needs and accomplishments, along with the slight differences according to the regulatory entity of the broker. A successful choice of the appropriate account is depended by many factors, risks, size of the investment and your personal time availability to trade Forex. The international company GKFX, which was recently rebranded to GKPro providing global traders with access to the world financial markets since 2010.
Education is provided primarily through video lessons, but not all videos are playable and this section showed an overall sloppy approach. GKFX actually take the education of their clients very seriously, which is always a positive thing. From the very basics right up to understanding economic indicators and more. All our funding and withdrawal requests were completed without any issues. The broker isregulated in the UK, Malta, British Virgin Islands, and Cambodia.The UK’s FCA is considered as one of the top global financial regulators. To start trading on GKFX, you first need to click on LIVE ACCOUNT button on the website to start the process of creating a GKFX account.
MarketInsight keeps traders informed with the latest market news. Trading Central provides analysis of the markets from Forex experts. And an Economic Calendar ensures traders never miss out on important events. GKFX Prime is a broker in its prime, and the company understands the significance of offering an excellent customer service experience to build up a good reputation.
We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated. Then keep on reading as we have battle-tested all of the features and services provided by GKFX and outline our findings in detail below. Accounts specialized to different trader profiles, low fees and a solid offering of research materials distinguish this broker.
GKFX is a registered trading symbol of AKFX Financial Services Limited, part of the Global Capital Group. AKFX Financial Services Limited is authorized and regulated by the Malta Financial Services Authority (“MFSA”) under a CRES license with registration C60473. AKFX Financial Services Limited provides its services outside Malta under the EU MiFID II Directive. However, we shouldn’t ignore negative feedback from users about the broker.
Today, GKFX offers traders 600+ financial instruments including indices, commodities, equities, CFDs and currency pairs. The client-focused approach at GKFX is one of the hallmarks of this brokerage. Don’t expect a GKFX Prime bonus for any deposit, as the company follows a no promotions policy for its clients. However, when it comes to GKFX Prime platforms, the broker offers the MT4 terminal as well as a WebTrader for trading the swissquote review wide array of financial instruments that include Forex, indices, commodities, and shares. The MT4 terminal is available for both desktops as well as mobile devices, which should allow GKFX mobile traders to access their accounts on the go. Traders can also make use of the excellent WebTrader platform on both desktops as well as on their smartphones or tablets if they do not want to install a dedicated platform for trading.
The platform keeps all the good stuff MT4 had and even goes beyond! You will notice that you can now open 100 charts at once with 21-time frames and many more indicators to choose from. MT5 is just as customizable as MT4 with a smooth user interface can be fully shaped to your taste so you can trade and analyse the way you want. Corporate Accounts – the spreads are as low as 0.6 pips with a minimum lot size of 0.01 and no minimum opening deposit. The strangest fact uncovered during this GKFX review is that no mention of deposit or withdrawal options is made anywhere on the website. The FAQ section makes no mention of it either, and while there is a Payment Methods section listed in the help section, clicking on it only reloads the page.
AKFX Financial Services Ltd. is a Category II Investment Services company authorised by the Malta Financial Services Authority. Visit our methodology page to learn more about our review and rating process. Discover who our writers are and how our reviews are conducted. While we adhere to strict editorial integrity, this page may refer to our partners’ products.
While this broker serves clients from most countries, it appears that the explicit focus is Europe and Asia as judged by office locations of the GK Group. While we were impressed with many aspects of this company, traders opting to invest with such a young company should be aware that youth may breed inexperience in some aspects. GKFX is an online Forex broker based in Malta and founded in 2013.
They could perhaps improve in this area by adding support for crypto funding. If that is something you are looking for, then you could take a look at Hugo’s Way. The broker has a quite generous amount of over 500+ financial instruments available for trading online. Besides Forex, you can trade CFDs for Stocks, Indices, Commodities and Cryptocurrencies with them. If the price of the instrument changes according to your prediction, you profit.
As well as the educational offering there is also a section dedicated to customer support. The company also operates other subsidiaries in the financial sector, including the GKFX Financial Services Ltd. Their educational materials including E-book, tutorials, video, webinar and Glossary in addition to market analysis and news improve their clients’ skills and knowledge. Their customer support team provides innovative and reliable assistance on every issue and trading problem their clients face. Thebroker offers attractive spreads on forex with fast execution. MarketsInstrumentsForex47Indices20Stocks and ETFs198Commodities14Cryptocurrency3The markets and the number of offered instruments will depend on the account jurisdiction and also the type of account.
With competitive spreads in some popular trading instruments and the absence of an inactivity fee GKFX performed better than average in this category. These trading platforms are offered in several languages which include English, Spanish, Italian, German, and Arabic. GKFX offers the global renowned MetaTrader4 together with the MetaTrader WebTrader as trading platforms.
GKFX was established back in 2014 and is headquartered in London. The company also has presence in 14 countries across the world. Its main financial hubs are situated in Frankfurt , London , Shanghai , and Paris . Potential traders need to do as much as possible research about speculative trading before commencing to do it and while trading. Trading successfully relies heavily on knowledge and understanding of the markets, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with. GKFX Prime offers a free unlimited demo account where users can practice trading on MT4/MT5 platforms with zero risks.
GKFX Prime is regulated by Financial Services Committee, BVI SIBA/L/1066 and registered address at Craigmuir Chambers P.O Box 71, Road Town, Tortola, BVI. They are swap-free and therefore comply with Sharia law which makes GKFX a Muslim friendly broker. This is something I would expect from most brokers nowadays but is always reassuring. See the overall market mood and directions of all your instruments, including sentiment history.
GKFX is among the few brokers that provides both the MetaTrader 4 and MetaTrader 5 platforms. To discover how the two systems differ, check out our MT4 versus MT5 comparison. Traders may trade with their preferred device thanks to the mix of downloading platforms for both Mac and Windows.
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We aim to help you find the best broker according to your own needs. Choose from a list of global share baskets of industry-leading companies. You can trade CFDs for underlying prices of popular index selections. There are popular indices such as Dow Jones Index in U.S or DAX40 in Germany with deep liquidity.
In the last step, traders are required to fill out a suitability test. Traders that pass the suitability test will be able to open a live account, and GKFX will recommend that those with limited trading experience open a demo account. This is a responsible move in an industry often how forex leverage works accused of an irresponsible approach to consumer protection. While GKFX Prime’s educational and market analysis materials are not as comprehensive or in-depth as some of the larger international brokers, it will still be useful for both beginners and more experienced traders.
How much does GKFX charge to trade 1 lot of EUR
The ECN comes up with the most modern technologies used in the financial markets industry. It makes trading transparent and efficient due to the innovative logic of working with liquidity providers. All electronic trading platforms occasionally suffer from a glitch. This may be a price freeze or an incorrect price which could traders way broker review be to the benefit or detriment of a client. If someone deliberately and consistently tries to take advantage of such an occurrence then I am afraid this will not be tolerated and they will be warned or their account will be closed. GKFX allows Expert Advisors automated forex trading on their metatrader4 trading platform.
GKFX scams me by illegaly confiscating my bonus
The trading costs on its Standard Account are around the industry average, and the minimum deposit requirement of 200 EUR makes it accessible to beginner traders. Trading costs improve in its Premium Account, but this is in exchange for a high minimum deposit requirement of 25,000 EUR. GKFX offers several accounts with various trading conditions, designed to meet your needs perfectly.
The MT4 platform has the ‘market’ tab where traders can get free or paid add-on apps like indicators, EAs, scripts, trading signals, etc. Entering positions is fast and easy with market orders, pending orders and risk management tools including stop loss and take profit. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence.
The support team of GKFX is available from Sunday 10 pm through Friday 10 pm and can be reached via phone, e-mail or message directly from their website. A live chat function is listed, but it was not available during standard business hours which is when this review was conducted. At a well-functioning brokerage, clients rarely obtain the need to contact customer support and it appears that at GKFX it will be equally unlikely. Through a partnership with Trading Central, GKFX clients gain access to 10 daily research reports from one of the market leaders in independent research based on technical analysis.
The weekly videos are created by a team of analysts that explain the highlights of the past week and financial market expectations of the upcoming week. The Expert section delves into deeper topics such as market sentiment and strategy building. The Beginner section covers the core elements of Forex trading. GKFX Prime has a fast and hassle-free account opening process, with quick verification. We may receive compensation when you click on links to products we review.
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Sign up to our newsletter in order to receive our exclusive bonus offers and regular updates via email. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. Our overall account opening experience was smooth and without any issues from registration to verification. Our overall experience of opening a new account with GKFX was smooth and fast.
The fees charged are reflected in a daily or monthly statement according to the customer’s preference. Ortunately, GKFX’s interface looks cluttered, making it very hard to access specific important information like account types products available. Like everything else, trading on GKFX has its advantages and disadvantages. Also, it’s perfectly prudent to note that we’re providing this true information to help you, as a trader and our reader, to make the right decision in choosing the most suitable trading platform.