GKFX

The Company

Though it was a new business founded in 2010 GKFX has seen rapid growth and has expanded its offerings to a variety of products, including FX, CFDs, Commodities, Equities and Indices, and spread bets (for UK residents).

GKFX is a brand owned by GKFX Financial Services Ltd., a subsidiary of London-based GKFX Financial Services Ltd. It is a member of the Global GKFX Group with offices in Beijing, Bratislava, Brno, Cairo, Dubai, Frankfurt, Hong Kong, Jakarta, Johannesburg, Madrid, Milan, Paris, Prague, Shanghai and Warsaw.

The company also has it’s own Australian affiliate, GKFX Financial Services Australia Pty Ltd. It is a holder of the ASIC license.

We also want to highlight the fact that GKFX can be proud of its status as a world-class market maker as well as the official partner of Italian soccer club AC Milan.

Security of Funds

GKFX Financial Services Ltd. is regulated and authorized through the Financial Conduct Authority (FCA) and is held to strict ethical, security, and standards of transparency. To obtain a license from the FCA, UK-based brokerages must possess at least EUR730 000 in net tangible assets to demonstrate their financial stability and ensure that clients’ funds are kept in separate bank accounts.

Regulations by FCA additionally provides protection for the funds of clients as they are covered in the Financial Services Compensation Scheme (FSCS) in which the maximum amount of compensation is PS50,000 per individual in the case of a broker being insolvent.

Additionally, GKFX is also registered with several EU regulators, like Bafin, CONSOB, Czech CNB and many more.

Regarding its Australian branch GKFX Financial Services Australia, Pty. Ltd. It is authorized from The Australian Securities and Investment Commission (ASIC).

Trading Conditions

Minimum Initial Deposit

There is no minimum amount to open or maintain an account for trading with GKFX this is very appealing considering that many brokers require a minimum amount to get started. For comparison, Forex.com, require $250 as well as FxPro is $500. However, you must have money in your account to start an exchange.

Average Spreads & Commissions

Trading accounts are available that have floating and fixed spreads that are part of the product portfolio of the broker. The average spreads for variable spreads on EUR/USD provided by this broker range from to 1.5 pip, which is at the top of the average. Fixed spreads offered by GKFX also come to 1.5 pip on EUR/USD. The broker does not charge commission charges, since it earns its commission through the spread of price.

Comparatively, Trading212 (also FCA-regulated) offers variable spreads of up to 0,9 pips for EUR/USD on commission-free accounts. If you require more information You can look up the real-time spreads for the top 15 brokers here..

Maximum Leverage

GKFX gives its customers a maximum leverage of 1:400. which is a high percentage however, most brokers offer similar leverage levels, except there is a limit set by the regulator. Hy Markets is one example provides the highest leverage ratio, which is 1300, and FxPro, with a maximum leverage ratio of 1:500. Additional forex brokers with leverage that is equal to or higher than 1:500 can be found here.

Pleasebe aware that margin trading that has high leverage levels can result in massive losses that can exceed the initial investment.

Trading Platforms

The platforms for trading you can select from using GKFX include MetaTrader 4 (MT4) and WebTrader.

MT4 comes as mobile, desktop and web-based versions. The platform is widely acclaimed because of its unique mobile trading capability, its advanced charts features, automated trading options using Expert Advisor methods (EA) as well as a vast back-testing capabilities. Furthermore, MT4 has an additional element, MultiTerminal it is an option for traders with multiple accounts simultaneously which makes it an efficient platform for account managers.

Additionally, GKFX is one of the few brokers who have made MT4 spread betting platform available to spread bets.

WebTrader On the contrary is an HTML 5 web-based trading platform, accessible to all browsers that support HTML5. GKFX Web uses a shared wallet that is integrated with the trading platform MT4. It is also accessible all hours of the day and is accessible via Windows or Mac running systems.

Methods of Payment

GKFX clients GKFX can deposit funds into their accounts through debit/credit card and bank wire (Visa, Maestro, Solo and MasterCard) as well as Skrill, Deal and Sofort Moneybookers e-wallets, ideal & Sofort. For withdrawals, they can use debit/credit card and bank wire.

The currencies accepted can be found in USD, EUR, GBP.

Conclusion

GKFX is a regulated market maker that has typical international presence and trading conditions.