GKFX Review

GKFX

  • Name : GKFX
  • Website : gkfx.com
  • Established : 2009
* Ranked #63 of 315 in DailyForex's top broker list

Info

Name : GKFX
Website : gkfx.com
Established : 2009
Country : United Kingdom
U.S. Clients Allowed : No?
Due to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.

Advantages

  • Choice of Accounts
  • Demo Account
  • Host of Trading Tools

Disadvantages

  • Only One Bonus

GKFX Review

GKFX Review

GKFX Financial Services Ltd (trading as GKFX) established in 2009, is an FCA regulated online Forex trading company that offers advanced online FX, CFDs and Commodities brokerage platforms and services to investors globally. Located in London, UK, they have offices in over 20 locations and provide access to a wide range of markets worldwide.

Accounts

The Micro account requires a minimum deposit of $100, the maximum open trades is 50 and traders can receive leverage of 1:400. Only Forex and commodities can be traded from this account.

There are no minimum or maximum deposits for the Standard account and no maximum number of open trades. Leverage is up to 400 and spreads are from 1.5 pips. Forex, CFD’s, indices and commodities can be traded and there is no maximum margin interest.

There is a swap-free trading account for those following Sharia laws which forbid interest on trades held overnight. Only Forex and commodities can be traded and there are no minimum or maximum opening deposits. Rollovers are not allowed and leverage is 400.

All the accounts have a minimum withdrawal amount of $100 for bank transfers; no limits for cards. All Fund withdrawal options are allowed and funding can be done in USD, EUR or GBP.

GKFX offers a MAM (Multi Account Manager) account for money managers and clients looking for professionals to manage their funds. They developed MAM especially for professional traders who operate more than one trading account simultaneously and who utilize the MT4 trading platform.

Some of the benefits of MAM include simultaneous multi account management, 5 allocation modules, a user friendly interface and rapid order response. It allows all ordinary order types and EA’s can be used.

Features

Traders have use of Trading Central analysis, which offers market depth and knowledge from the many years of experience gained on the trading floors of many banking institutions. Trading Central is registered with the U.S. Securities and Exchange Commission (SEC), as an Investment Adviser.

Daily technical analysis is provided as is an economic calendar covering all the news events and releases across the globe. GKFX offers an in-depth explanation of how to use the economic calendar so as to benefit the most.

The Trading Central indicator is an effective multilingual add-on program for MetaTrader 4 to help traders make more informed trading decisions. It shows the most traded financial instruments directly on the MT4 Live charts with their analyses, strategies, forecasts, commentaries and key areas such as supports / resistances / Pivots , etc.

Trading Central
Trading Central

A listing of economic indicators is also provided.

GKFX Autochartist Market Report is provided by GKFX for live account holders. Market Report allows them to get a quick overview of the state of the markets before they start their analysis for the day. Autochartist saves traders time by continuously scanning financial markets and automatically alerting traders to actionable trade opportunities based on chart patterns, horizontal support and resistance levels, and Fibonacci patterns. Reports are generated prior to the market opening in Tokyo, London and New York, in 13 different languages, thereby allowing brokers to communicate effectively with customers around the world.

GKFX Autochartist
GKFX Autochartist

GKFX ‘s new EA Builder lets traders design, create and use their own Expert Advisors with a user friendly interface. EA Builder is an advanced graphic environment where by using just a few clicks, traders can create complex Forex trading strategies and transform them into fully functional expert advisors. No coding, programming or MQL knowledge is required.

Education

GKFX offers a wide selection of educational tools.

Textual tutorials on Forex and CFD trading are provided online and cover all the basics of Forex trading. Videos cover a number of different topics such as Pending Orders, Instant Orders, MT4 review and more. There are also several live webinars offered each month and registering for an account is not necessary to participate in any of them.

Traders can write their own Expert Advisors or use the automated ones offered by GKFX.

In addition, a listing of swap rates and their Market Information Sheet is more than just an asset index, with listings of minimum and maximum lot sizes, trading hours and more for each product available for trading.

Their glossary is short but interesting as it lists some terms that are not usually explained on a broker’s site such as ‘Beige Book’ and ‘Consumer Confidence.”

Customer Support

Traders can contact a GKFX representative via telephone, email and live chat. An online form is also provided. Support is available 24/5. GKFX is supported in Arabic, Chinese, Czech, Danish, English, Farsi, French, German, Hungarian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Swedish, Turkish, Greek, Dutch, Vietnamese, Bulgarian, Indonesian, Romanian, Taiwanese and Finnish.

Deposits/Withdrawals

Deposits to trading accounts can be made via bank transfers, credit cards and the Moneybookers e-wallet.

Withdrawals are made directly to the bank accounts and credit cards from whence the money came.

Bonuses/Promotions

I was disappointed to find that there was only one bonuses or promotion offered by GKFX, albeit a generous one. At the time of this review, a deposit bonus of up to 40% was the only bonus offered.

Conclusion

GKFX stands out in several ways. It is the only broker around which has made the advanced and popular MetaTrader 4 (MT4) platform available for spread betting. Most brokers only provide the MT4 platform for spot forex and CFDs trading. Their list of trading tools such as Alarm Manager and Trade Terminal are unique and useful.

Advantages

  • Choice of Accounts
  • Demo Account
  • Host of Trading Tools

Disadvantages

  • Only One Bonus

Review info: GKFX
Review Date:
Rating : 4
Reviewed By :