Founded in 2012, GKFX Prime is a well-regulated market maker with four live accounts on the MT4 and MT5 platforms. GKFX offers the MT4/MT5 Boost, a plugin that provides additional functionality to the trading platforms. It also offers Autochartist and Trading Central for free, two of the best technical analysis tools in the industry. A free VPS service is provided to traders who deposit 4,000 USD or more, and for traders interested in copy trading, GKFX Prime offers Zulutrade and Myfxbook Autotrade. Founded in 2012, GKFX Prime is a well-regulated market maker with two live accounts on the MT4 and MT5 platforms.
While most UK residents will want to have their trading accounts denominated in GBP, some traders may want to have multiple accounts with different base currencies so as not to pay conversion fees when trading. Conversion fees can make trading expensive, and are usually not presented on the fee report, but affect profitability. 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. With this diversified portfolio of markets, GKFX Prime caters to the preferences and strategies of traders, offering a wealth of trading opportunities across a broad spectrum of instruments. GKFX offers a free demo account where users can practice trading on MT4 with zero risks.
Please note, some markets may only be available via CFDs or other derivatives. The broker provides margin requirements on their Market Information Sheet (MIS). Cryptocurrencies require a 50% margin, whilst forex margins are set between 3.33% up to 8%, depending on the currency pair. Spreads start at around 0.6 pips for EUR/USD, 0.7 for GBP/USD, and 1.4 for EUR/GBP. Target spreads for major indices such as the FTSE 100 are around 1 and go as low as 0.4 points for the SP500. For cryptocurrencies, target spreads for Ripple vs USD start from 0.1.
As you can see from the table above, the trading costs on the VIP Variable Account are lower than the costs on the other three accounts and are lower than those charged by other brokers on similar accounts. However, traders need to maintain a minimum account balance of 5,000 USD, which puts it only within the reach of serious beginners or more experienced traders. We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the GKFX Prime product offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review.
Overall, GKFX Prime offers fewer trading account currencies than most other large international brokers and doesn’t offer accounts denominated in INR. Deposits and withdrawals are accepted via bank transfers, credit cards, local banks, and e-wallets. Withdrawals by bank transfer take anywhere from 1 to 5 business days, depending on the country, and 3 – 5 business days for credit card transfers. Credit card deposits may cause minor additional charges due to exchange rate differences. While there are no minimum deposit requirements on three of its accounts, traders must maintain a balance of 5,000 USD to open a VIP Variable Account.
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Established in 2013, GKFX is based in Malta, operating under AKFX Financial Services Ltd. AKFX is a Category II Investment Services company and is regulated by the Malta Financial Services Authority (MFSA). On the negative side, GKFX does not allow traders to run hedging and scalping. The support staff on both live chat and email was quick enough to answer our query accurately and in detail. Both these platforms are available on the web, desktop, and mobile. Our overall account opening experience was smooth and without any issues from registration to verification.
- Trade CFDs on hard or soft commodity prices for exciting opportunities.
- GKFX Prime is a global CFD (Contracts for Difference) and Forex broker.
- We are working hard to shape the future of financial technologies industry.
- As a result, the broker receives a high trust rating among customer reviews.
- Established in 2012, GKFX Prime stands as a global forex and CFD broker with a notable pedigree.
EURO / U.S. DOLLAR
Most of the required third-party add-ons need to be purchased, and it would have been considerate of GKFX to offer some of the more crucial ones, free of charge with each account. This is another example of this broker being youthful and without the proper experience, but it may include products in the future and as part of its maturing process. GKFX has already partnered with Premier League club Arsenal, a sign that this broker is looking to get noticed.
FCA Brokers
It also provides a daily news update and weekly market analysis videos. Educational materials are presented in both written and video formats. GKFX Prime offers four base currencies, which is limited compared to other brokers. Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews.
Additional Features
By subjecting itself to the oversight of these regulatory authorities, GKFX Prime underscores its commitment to establishing a secure and transparent trading environment for its clientele. The brokerage’s commitment to delivering a comprehensive trading experience is evident in its extensive portfolio of over 400 trading instruments. Clients can traverse the dynamic landscapes of forex, indices, stocks, commodities, and cryptocurrencies, gaining access to a rich tapestry of global markets.
UK regulated broker GKFX Financial Services Ltd only offers services to professional and institutional clients with the tradename GKPro. It does come with all the basic analytics tools and one of the premier features is full support for automated trading solutions. A back-testing capability is also included and can help new traders test their strategies. As more portfolios are operated via automated solutions, the MT4 trading platform fully supports it; this explains the ongoing investment into innovative products for it. GKFX offers the full suite of the MT4 trading platform which consists of the downloadable version, the mobile version, and the web version.
Customer Service
The MT4 platform is also available as a web-based online terminal, allowing live account holders to trade from any supported browser with no additional software or download required. The platform is regularly updated so users have access to the same features as the desktop platform. Our testing finds that spreads on forex, indices, commodities, and cryptocurrency CFDs are lower than the industry average.
Trading Central is a tool that provides a technical market analysis from third-party industry experts. Trading Central’s top-notch indicators help guide client trades through an easy-to-access platform. It is intuitive, scans the market for opportunities 24/7, and provides comprehensive analysis and a constant notification alert system. Autochartist is one of the best fxprimus review technical analysis tools on the market, and GKFX Prime does well to offer this tool to its clients.
Spreads for forex, indices, commodities, and stocks on our trades were much below the average industry benchmark. For this GKFX review, we have opened a standard account with the broker and deposited over €5,000. GKFX offers its educational section delivered primarily through video lessons. This broker offers quite an extensive selection of educational videos, but not all are available for viewing which was rather disappointing.
GKFX also offers a large library of educational resources for free on its website. This includes free ebooks, webinars on various topics related to trading, a complete video tutorial on how to use the MT4 trading platform, as dowmarkets well as a basic forex trading tutorial. In addition, the team also hosts live webinars from time to time on interesting topics like trading strategy development and trading psychology. While we were happy to find during our GKFX review that the company offers a VPS service, the requirements and charges are on the high end of the spectrum.
