Search
Close this search box.

GKFX Review 2024

GKFX is a global online trading provider established in 2010, offering its clients a wide range of trading products. GKFX might be mistaken for the name “JKFX broker” which isn’t the right name held by the broker GKFX in the market.

GKFX is a registered trademark of GKFX Financial Services Limited. GKFX Financial Services Ltd is located in Bevis Marks House, 24 Bevis Marks, London, EC3A 7JB

GKFX has also offices in GKFX Frankfurt, Madrid, and Dubai. GKFX is represented all over the world.

International award-winning broker over the years including the best forex broker in Europe 2021, best retail CFD broker in Europe 2021, and more, GKFX is making sure to prove its place in the forex market through its continuous developments.

GKFX has one of the most trusted and dependable customer services as well as providing that service 24/5 in 5 different languages which include English, Deutsch, Spanish and more.

5,8
EXPERT SCORE
Average
I reviewed GKFX based on the following criteria.
COMMISSIONS AND FEES
65%
TRUST
51%
TRADABLE INSTRUMENTSS
60%
PLATFORMS & TOOLS
55%
CUSTOMER SERVICE
60%
PROS
CONS

Let’s take a look at what questions I answered in this GKFX review 2024: Is GKFX scam or not? What are the account types offered by GKFX? What are the trading conditions such as spreads, minimum deposit, and leverage? Is GKFX regulated?

Regulation of GKFX

The ground basis of any broker in the forex industry is the regulation, considering the great importance the license holds in providing reliability and trust between the broker and the trader. And so, it’s only natural to have the start of this GKFX review dedicated to my explanation of the licenses held by GKFX.

Regulatory organizations require special requirements to be met in order to give their license to any broker, those requirements and rules undergo continuous updates and the brokers must adhere to them otherwise the license is withdrawn. In other words, it’s not a walk in the park to get one of the financial regulatory organizations’ licenses.

GKFX here has one of the major regulatory organizations’ licenses and that in itself is a great sign of the level of trust GKFX is worthy of.

GKFX is authorized and regulated by the Financial Conduct Authority (FCA) with FCA Register number 501320 and company number 6837942. You can check the license in the picture below.

Therefore GKFX is required to adhere to the regulator’s rules and obligations. The FCA performs frequent checks to ensure businesses are fully compliant.

To get this license from the FCA, UK-based brokerages must hold a minimum of €730 000 net tangible assets to prove their financial stability.

Under FCA client money rules, GKFX is required to segregate all its retail clients’ funds from its own funds. All the client funds are held in separate bank accounts with the world’s top tier-one banks including Barclays and BNP.

Moreover, in the unlikely case GKFX cannot uphold its financial obligations, you as a retail client can submit a claim to the Financial Services Compensation Scheme (FSCS) which was set up under the Financial Services & Markets Act 2000.

Besides, this compensation scheme allows all retail clients to claim up to £50,000 should GKFX have any financial difficulties and is not able to repay what it owes to clients.

Also, GKFX is registered with a number of EU regulators, including Bafin, CNB, Národná Banka Slovenska, and CNMV.

Account Types and Spreads

GKFX presents 3 account types with different features to match the different trading styles of different traders and investors. This part of the GKFX review is where I’ll walk you through, step by step, the breakdown of each account type and the trading conditions offered by each account type to make sure you’ll make the right decision in choosing the right account type for you.

These account types are :

Classic account: spreads here stars from 0.7 pips. You can trade with the classic account on MT4 and MT5 via phone or web or desktop. There is no minimum deposit required nor any commission applied. Here you can trade indices as low as 10 cents per point. For beginners in the forex and CFDs market, this seems to be the favourite account to trade with.

Prime account: here the spreads start from 0.5 pips and you can trade with the base currency which is the Euro. The minimum deposit for the prime account is €2500. Considering the average minimum deposit in the forex market is $100. The amount is considered a bit extra. No commission is added when trading with prime accounts and you can trade the DAX from as little as 0.5 points. As well as the inclusion of trading and analysis tools. The prime account is more suitable for frequent traders

Prime PLUS account: this account is having low spreads that can reach as low as 0.1 pips. €5 as a commission per lot is applied. The minimum deposit in the prime PLUS account is quite high reaching €15.000. Trading tools & analysis tools are also included, In addition, this account is more directed to professional forex investors. You can trade with a mini lot here as the minimum trading volume.

Both the classic and the Prime accounts have a minimum trading volume of 0.01 which means a micro lot can be traded.

All accounts have the same maximum leverage offered of 1:30. Along with having the same level of stop out which is 50% on all accounts.

Trading Platforms

Trading platforms represent great importance to any trader, and so this area of the GKFX review is all about discussing the offered platforms you can use when trading with GKFX. Make sure you have some background about the functions of any trading platform before you start trading.

GKFX offers the most popular trading platform MetaTrader 4 in addition to the next-gen platform that originated from the same baseline, that’s called MT5. Furthermore, GKFXtrader and GKFX Webtrader are also options.

GKFX MT4 is fast and reliable. It has comprehensive charting and sophisticated technical analysis capabilities. GKFX MT4 also offers a multilingual trading experience to its users and that’s how it ended up being all the trader needs when trading and ultimately became the most known and popular used trading platform in the forex and CFDs trading market.

With an automated trading system, Expert Advisors (EA) analyze the market and automate your trade so you wouldn’t have to worry about extra analysis when trading on the GKFX MT4 platform. Signals for trading are also features where you get signals from experienced traders about new investment ideas. GKFX MT4 can be used on desktops, smartphones and web browsers.

MT5 is all the good things present in MT4 and more. With even better features and functions. MT5 can handle 7 platforms simultaneously! You don’t need a multi-terminal version anymore.

GKFX trader is an offered platform developed by GKFX themselves to provide more options and choices along with trading tools for the trades with the option of being customizable as well as being easy to track, keeping all your traded products in one place. You can download it on your phone for free from both google play and the app store.

Trading Instruments

GKFX offers a variable collection of trading instruments and products to make sure the traders are having different types of tools in their trading portfolios and that a changeable amount of products is making profits for them not just currency pairs. This section of the GKFX prime review is here to tell you all about these instruments and the conditions of each one to make a profit for you.

These Instruments include:

Forex: you can trade over 40 forex currency pairs with GKFX, with deep liquidity, instant orders, and expert customer service with a global broker, you can make sure the experience in trading forex with GKFX is one of a kind. You can also trade major, minor or exotic pairs on GKFX‘s platform where you can have spreads as low as 0.1 pips and fast order execution that make the trading procedure worthwhile.

Indices: Dow Jones Index in the US or DAX30 in Germany are examples of the indices you can trade with GKFX. you can trade short or long in the market when trading indices. Shares from large companies are usually the ones with the highest impact on the market movement.

Stocks: here you can trade the shares and stocks of the world’s biggest companies in different sectors. Companies like Apple, Google, and Facebook are available for stock investment with GKFX.

Commodities: a brilliant way to diversify your investments are commodity trading where you get different products to choose from to trade in included within the commodity sector. Metals like gold and silver to be traded with leverage are examples of precious metals you can trade with GKFX. Additionally, you can get into trading Oil and gas in which their prices have significant impacts on the global economy. They are closely related to currency values as well. Even states shape their foreign policies around energy markets. By energy trading, you can trade with Brent oil and natural gas which guarantees competitive rates, and top products offered.

Cryptocurrency: with the well know high volatility and deep liquidity of the cryptocurrency market, make trading cryptos with GKFX much more advantageous. GKFX offers benefits when trading with cryptocurrencies as like benefiting from the increase and the decrease of the price of coins. Crypto prices change dramatically and provide opportunities for traders both going long and short. GKFX offers Bitcoin, Ethereum, Litecoin, and more for cryptocurrency trading.

Payment Methods

It goes without saying that funding channels represent great importance to any forex broker since they need to deposit their account as well as withdraw their profits. This area of the GKFX review is where I’ll present you with all the available funding and withdrawal methods you can use when dealing with GKFX.

If you are a client of GKFX, you can make deposits to your account via bank wire and debit/credit card (Visa, Maestro, Solo and MasterCard) and Skrill, Sofort, and Neteller.

The quickest and easiest way to deposit funds with GKFX is to use a credit/debit card or E-wallet card. Payments that are successfully authorized will be credited to your account instantly.

With the options to deposit, the options for withdrawal seem to consider in only credit and debit cards and bank transfers. Where Credit cards are still the most convenient method. An alternate channel for withdrawing your funds is to use a bank transfer.

What I like most about GKFX is that it doesn’t take any commission when you want to withdraw money. So, there is no transfer cost and it won my heart. The accepted currencies are USD, EUR, and GBP.

Conclusion

This GKFX review discussed the regulation of GKFX that ended up with a positive outcome knowing now that GKFX is regulated by one of the best in the market which is the FCA which means trading with GKFX isn’t only trustable but only protected and secured through the compensation scheme covered by the watchdog.

Trading conditions are well. The minimum deposit is low but the leverage is also low this is a disadvantage for GKFX. Here, in this GKFX review 2024, I explained the 3 different account types and variable spreads according to each account to allow you to choose the right one for your trading style. Variable trading instruments. An award-winning broker to prove that they are worthy of the trust given to them by their traders.

Different channels for funding the account and means of withdrawal are the easiest and the most used in the market. GKFX also offers the best and the most used trading platforms including GKFX MT4, MT5, GKFX trader, and GKFX Webtrader.

Customer support is available 24/5 in 5 different languages to adhere to client needs from all over the world.

Nonetheless, if you didn’t like GKFX, you can check my top forex brokers list and find a better forex broker.

Facebook
WhatsApp
LinkedIn
Reddit
Telegram
Gkfx review
Rating: 5,8