For this GKFX review, we have opened a standard account with the broker and deposited over €5,000.

We traded the popular instrument in each market to get the real spreads and placed a total of 15 trades.

We also reached out to customer support to solve the issues we faced.

Finally, we withdrew our funds to see if there are any issues with the withdrawal process.

What is GKFX?

GKFX is a United Kingdom-headquartered forex and contracts for difference (CFDs) broker established in 2010.

The broker group runs three retail brands: GKFX, GKFX Prime, and GKFX Cambodia. It also runs the GKPro brand, which serves only professional traders.

Retail offers in the broker include contracts for differences (CFDs) trading with forex, indices, commodities, stocks, and cryptocurrencies.

GKFX is well-regulated with operating licenses from the financial regulators in the United Kingdom, Malta, the British Virgin Islands, Australia, and Cambodia.

Some of the highlights of GKFX are:

🗺️ Authorised & Regulated inUK, Malta, British Virgin Islands, Cambodia, Australia
🛡️ Is GKFX safeYes
💰 EUR/USD Spread0.67
💳 Minimum depositUS$0 or €200
💰 Withdrawal feeUS$0
🖥️ Trading PlatformMT4, MT5
📈 Markets offeredForex, Indices, Stocks, Commodities, Cryptocurrencies
📉 Number of Products282 (depends on the jurisdiction and account type)

Licenses and Regulations

GKFX holds licenses from regulators in 4 countries.

The broker is regulated in the UK, Malta, British Virgin Islands, and Cambodia. The UK’s FCA is considered as one of the top global financial regulators.

The full list of GKFX licenses is below:

Legal entityRegistered inRegulatorLicense numberAccepting clients fromCompensation scheme amount
GKFX Financial Services LtdUnited KingdomFinancial Conduct Authority (FCA)501320United Kingdom£85,000
AKFX Financial Services LtdMaltaMalta Financial Services Authority (MFSA)C60473European Union€20,000
International Finance House LtdBritish Virgin IslandsB.V.I Financial Services Commission (FSC)BVI SIBA/L/1066GlobalNo compensation scheme
GKFX Cambodia Co LtdCambodiaSecurities and Exchange Commission of Cambodia (SECC)026CambodiaNo compensation scheme
FairMarkets Trading Pty LtdAustraliaAustralian Securities and Investment Commission (ASIC)424122AustraliaNo compensation scheme
Global Kapital Investama BerjangkaIndonesiaCommodity Futures Trading Supervisory Agency (BAPPEBTI)824/BAPPEBTI/SI/11/2005IndonesiaNo compensation scheme

The Malta-regulated entity operates with the tradename GKFX, the British Virgin Islands entity with GKFX Prime, the Cambodian entity with GKFX Cambodia, the Australian entity operates under FairMarkets, and the Indonesian entity operates with GKInvest.

GKFX Financial Services Ltd, which is regulated in the UK, only offers services to professional and institutional clients with the tradename GKPro.

GKFX MFSA License

Is GKFX Safe?

Yes, GKFX is a safe broker from a regulatory perspective.

The broker is well-regulated with a total of 4 licenses. It is also overseen by the UK’s FCA, which is a well-reputed financial market regulator and offers a compensation scheme of £85,000 to protect clients’ funds. Malta’s MFSA also offers a compensation scheme of €20,000.

For our tests, we opened an MT5 Standard account with AKFX Financial Services Ltd, which is regulated by Malta Financial Services Authority (MFSA) in Malta.

Fees and Commissions

Trading fees on GKFX are mostly built into spreads. The broker, however, charges commission on its higher-tier accounts with tight spreads.

Spreads for forex, indices, commodities, and stocks on our trades were much below the average industry benchmark.

Spread Charged in Our Trades

For our tests, we have chosen popular instruments in each market. We placed 3 trades for each instrument to get a picture of the average spread.

Our test is based on GKFX’s Standard account. Spreads for our trades with forex, indices, stocks, and commodities remained stable with minor deflections for all asset classes.

Details of our trades are shown below the table.

MarketsInstruments1st trade2nd trade3rd tradeAvg. spread
ForexEUR/USD0.750.650.60.67
IndicesFTSE 1000.850.850.80.83
StocksApple3.73.73.73.7
CommoditiesGold2222
CryptocurrencyBitcoin38.242546.6136.62

Our testing finds that spreads on forex, indices, commodities, and cryptocurrency CFDs are lower than the industry average. Spreads on share CFDs are, however, on the higher side.

MarketsInstrumentsAvg. spread charged in our tradesIndustry avg. spread
ForexEUR/USD0.671.6
IndicesFTSE 1000.831.5
StocksApple3.71.5
CommoditiesGold23.8
CryptocurrencyBitcoin36.6245

Other Fees

GKFX does not have any prominent non-trading fees. The broker does not charge any deposit or withdrawal fees, and there are no maintenance or inactivity fees either.

Account Types

The retail account types offered by GKFX vary with each regulated entity.

Details of all account types under AKFX Financial Services Ltd (regulated in Malta) are:

Standard AccountPremium Account
Trading PlatformsMetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5
Account CurrencyUSD, GBP, EURUSD, GBP, EUR
Minimum deposit€200€25,000
CommissionNone€6/lot
Order executionInstant ExecutionInstant Execution
SpreadFrom 0.6From 0.1

Details of all account types under International Finance House Ltd (regulated in the British Virgin Islands) are:

Standard Fixed AccountStandard Variable AccountVIP Variable AccountECN Zero Account
Trading PlatformsMetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5
Account CurrencyUSD, GBP, EURUSD, GBP, EURUSD, GBP, EURUSD, GBP, EUR
Minimum depositNoneNone$5,000None
CommissionNoneNoneNone$10/lot
Order executionInstant ExecutionInstant ExecutionInstant ExecutionInstant Execution
SpreadFrom 1.8From 1.2From 0.6From 0

Details of all account types under GKFX Cambodia Co Ltd (regulated in Cambodia) are:

Standard AccountECN Zero AccountVIP Variable Account
Trading PlatformsMetaTrader 4MetaTrader 4MetaTrader 4
Account CurrencyUSDUSDUSD
CommissionNone$15 per round lotNone
Order executionInstant ExecutionInstant ExecutionInstant Execution
SpreadFrom 1.2From 0From 0.6

FairMarkets Trading Pty Ltd (regulated in Australia) offers only one account type:

Real Account
Trading PlatformsMetaTrader 5
Account CurrencyUSD, AUD
CommissionNone
Order executionInstant Execution
SpreadFrom 1.2

Details of account types offered by Global Kapital Investama Berjangka (regulated in Indonesia):

Standard Fixed AccountSilver Fixed AccountGold Fixed AccountPlatinum Fixed AccountStandard Variable AccountECN Zero Account
Trading PlatformsMetaTrader 5MetaTrader 5MetaTrader 5MetaTrader 5MetaTrader 5MetaTrader 5
Account CurrencyUSD, IDRUSD, IDRUSD, IDRUSD, IDRUSD, IDRUSD, IDR
Commission$2 per lot$2 per lot$2 per lot$2 per lot$2 per lot$10 per lot
Order executionInstant ExecutionInstant ExecutionInstant ExecutionInstant ExecutionInstant ExecutionInstant Execution
Spread1.61.210.8From 1.2From 0

The Indonesian entity also offers a Multilateral account for commodities trading.

Account Opening

Our overall experience of opening a new account with GKFX was smooth and fast.

We opened a MetaTrader 5 Standard account for our tests under the Malta-regulated entity.

The process of registration of a new GKFX account:

  1. Enter personal details like the first name, last name, country of residence, phone number, email, and declaration of non-US nationality.
  2. Prove more personal details like date of birth, place of birth, residential address, nationality, and passport number.
  3. Provide professional and financial information: employment status, annual income, total assets, liquid assets, source of assets, expected annual deposit amount and expected trading frequency.
  4. Answer some questionnaires on trading knowledge and experience.

We submitted the following documents to verify our GKFX account:

  1. Copy of national identification (both front and back)
  2. Copy of our bank statement

The registration process took around 12 minutesOur account was verified in 1 working day.

Our account was registered on March 26, 2021, and approved on March 29, 2021.

Our overall account opening experience was smooth and without any issues from registration to verification.

GKFX Account Opening

Deposit and Withdrawal

Both deposits and withdrawals on GKFX are easy and fast. All our funding and withdrawal requests were completed without any issues.

The broker does not charge any fees for deposits and withdrawals.

Minimum Deposit

The minimum deposit on GKFX varies with the account types.

For Malta-registered entity operating as GKFX:

  • Standard account: €200
  • Premium account: €25,000

For the British Virgin Islands-registered GKFX Prime:

  • Standard Fixed account: $0
  • Standard Variable account: $0
  • VIP Variable account: $5,000
  • ECN Zero account: $0

Traders only need to maintain the minimum deposit balance on their accounts.

Deposit

GKFX supports deposits with bank transferscredit and debit cards, two online wallets, Neteller and Skrill. There are no deposit fees.

The deposit methods also depend on the account jurisdiction.

We tested the deposit process on GKFX using a credit card, Neteller, and Skrill.

Details of our fund deposits are shown in the below table.

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Credit card2021-04-062021-04-06Instant0
Neteller2021-04-062021-04-06Instant0
Skrill2021-04-062021-04-06Instant0
GKFX Deposits and Withdrawals

Withdrawal

GKFX allows withdrawals with bank transfers, credit and debit cards, and online wallets like Neteller and Skrill. It does not charge any withdrawal fee.

Overall, our experience with the GKFX withdrawal process was positive.

Details of our withdrawal requests are in the table below.

Payment MethodSubmitted DateFund Released DateFund Arrived DateWithdrawal TimeFee
Credit card2021-04-062021-04-072021-04-082 working day0
Neteller2021-04-062021-04-072021-04-071 working day0
Skrill2021-04-062021-04-072021-04-071 working day0

Markets and Products

GKFX offers CFDs trading services with forex, indices, stocks, commodities, and cryptocurrencies instruments.

The complete list of GKFX’s offerings are:

MarketsInstruments
Forex47
Indices20
Stocks and ETFs198
Commodities14
Cryptocurrency3

The markets and the number of offered instruments will depend on the account jurisdiction and also the type of account.

Trading Conditions

Trading conditions on GKFX are bad. The broker does not allow hedging and scalping strategies. Retail traders cannot even change leverage levels.

Only professional traders can change legerage levels.

Trading MethodAllowed
HedgingNo
ScalpingNo
Change LeverageNo (only professional clients can change leverage levels)

Leverage

Leverages offered by the various entities of GKFX are detailed below:

MarketsGKFX Financial Services LtdInternational Finance House LtdAKFX Financial Services LtdGKFX Cambodia Co LtdFairMarkets Trading Pty LtdGlobal Kapital Investama Berjangka
Major Currency Pairs30:1400:130:1400:130:1400:1
Non-Major Currency Pairs20:1400:130:1400:120:1400:1
Gold20:1200:120:1400:120:1400:1
Other Commodities (except Gold)10:150:120:1400:110:1100:1
Indices5:1200:120:1NA20:1100:1
Stocks5:110:120:1NANANA
CryptocurrenciesNA20:12:1NA2:1NA

Copy Trading

The British Virgin Islands-registered GKFX Prime offers copy trading services with two third party platforms:

GKFX Copy Trading

Trading Platform

GKFX offers trading services on MetaTrader 4 and MetaTrader 5 platforms. These are industry standard third-party platforms developed by the company MetaQuotes Software.

Both these platforms are available on the web, desktop, and mobile.

GKFX Trading Platforms

We executed all our trades on MetaTrader 5 platform.

Research and Tools

GKFX offers excellent market research and analysis tools.

Tools offered by the broker include:

  • Good charting tools
  • Trading signals using Autochartist and Trading Central
  • Economic calendar
  • Forex VPS
  • Trading automation with Tradeworks
  • Market research articles and weekly videos
  • Newsfeed
GKFX Trading Tools

Education

GKFX offers good educational resources.

The broker’s educational materials include:

  • Video tutorials for both beginner and expert traders
  • Details guides on trading and platforms
  • Ebooks
  • Webinars
  • Demo account
GKFX Webinar

Customer Service

GKFX has good customer support.

Traders can contact the broker via:

  • Live chat 
  • email
  • Phone

The support staff is available only on weekdays and takes questions in 14 languages.

Our experience with GKFX customer support was very good.

The support staff on both live chat and email was quick enough to answer our query accurately and in detail.

QuestionResponse TimeQuality of reply
Live ChatAsked questions on hedging and scalping1 minuteClear and accurate
EmailAsked about the number of trading instruments30 minutesClear and accurate
EmailAsked about releasing our withdrawal fund8 hoursClear and direct instructions
GKFX Customer Support

The broker also has a detailed FAQ section for frequently faced issues.

Conclusion

Our overall experience with GKFX was decent.

The broker offers attractive spreads on forex with fast execution. Commodity spreads also remained stable.

Account opening, deposits, and withdrawals are also smooth and fast on the broker. Our experience with customer support was again excellent as the responses were fast, clear, and detailed.

On the negative side, GKFX does not allow traders to run hedging and scalping.

We recommend GKFX to forex traders who run EA.


Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.

Now I am passionate about reviewing and comparing forex brokers.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Leave a Reply

Your email address will not be published. Required fields are marked *