June 5, 2020

GKFX Review 2020 – Is GKFX Scam Or Good?

gkfx review

Regulators: FCA

Cryptocurrencies: YES

Minimum Deposit: $20

Maximum Leverage: 1:30

Spreads: Low

My Score: 5.8

Hi everyone, Valentin will be here now using the GKFX review. GKFX is just an international online trading provider based this season, offering its customers a vast assortment of trading solutions.

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

The broker has also offices in Frankfurt, Madrid, along with Dubai. GKFX is reflected all around the entire world. I might also want to say that GKFX is pleased for an international marketplace manufacturer and official host of Italian soccer team AC Milan.

Let’s look at what questions I replied in this review: Is GKFX scam or not? what are the accounts types supplied by this broker? What are the trading requirements such as spreads, minimum deposit leverage? Can it be GKFX regulated?

Regulation of GKFX

GKFX Allows You to create your investments securely. GKFX guarantees that your security under legal stipulations. The broker is regulated by a few of the significant regulators.

GKFX is licensed and governed by the Financial Conduct Authority (FCA) using FCA Register number 501320 and the organization number 6837942. It’s possible to assess the permit while in the picture underneath.

Therefore that the broker must stick to this regulator’s rules and duties. The FCA implements periodic evaluations to ensure organizations are wholly compliant.

To obtain this permit by the FCA, UK-based brokerages must hold no less than 730 000 net tangible shares to show their financial equilibrium.

Under FCA client money rules, GKFX is needed to segregate all of its retail customers ‘ 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, Nrodn Banka Slovenska, and CNMV.

Account Types and Spreads

GKFX offers a wide range of account types, all of which have been designed to allow its clients to trade according to their individual needs.

There are four account types offered by GKFX. These are Spread Betting Fixed, Fixed, Variable, and Corporate Account.

Spread betting fixed account is commission-free and spreads are fixed from 0.6 pips. The minimum deposit with a credit or debit card is 20 EUR/GBP/USD. The maximum leverage is up to 1:30.

The fixed account is also a commission-free account type and spreads are fixed from 0.6 pips. The minimum deposit amount is equal. Account base currencies are EUR, USD, GBP. The max. leverage is 1:30.

The variable account is another commission-free account. Spreads are from 1.0 pips but variable. The maximum leverage is 1:30. The minimum trade size is 0.01 (Number of standard lots per one single trade).

The last one is the corporate account. Spreads are from 0.3 pips and variable. The leverage is 1:30. The minimum trade size is 0.01.

If I summarize, there are trading accounts with both fixed and floating spreads in the broker’s trading accounts. Spreads are competitive. But there should be more information about the minimum deposit.

Trading Platforms

GKFX offers the most popular trading platform MetaTrader 4. There is also a Sirix webtrader. Also, a Multi-Terminal option is available for traders working with multiple accounts simultaneously.

MT4 is fast and reliable, it has comprehensive charting capabilities and sophisticated technical analysis capabilities. The platform offers its users a multilingual trading experience.

In addition, Traders can use MT4 on desktop, smartphones and web browsers. The platform has automated trade options with Expert Advisor strategies (EA) and extensive back-testing environment. Because of all these features, this platform is globally popular.

Trading Instruments

GKFX provides trading with Cryptocurrency, FX, equities, indices, commodities, and CFDs. There are over 50 FX pairs, commodity trading services including oil, gold and silver.

GKFX offers Bitcoin, Ethereum, Litecoin, Dash and Ripple quoted against the US Dollar. I can say that the broker is successful in product variety.

Payment Methods

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 profitably authorized will be credited to your account instantly.

What I like most about the broker is that it doesn’t require any commission once you desire to draw money. Therefore, there’s not any transfer cost plus it also won my heart. The currencies that are accepted are USD, EUR, and GBP.

Conclusion

GKFX is a professionally regulated international forex broker. The broker is governed by FCA (perhaps one of their very regarded brokers on the planet ).

Trading requirements also. The deposit is low however, the leverage is too low that this really is a disadvantage with this particular broker.

Nonetheless, in the event you didn’t like this broker, you can check my top forex brokers list and find a better forex broker.

GKFX

5.5

Trust

6.0/10

Commissions and charges

5.0/10

Customer Service

5.5/10

Platform & Tools

6.0/10

Product Portfolio

5.0/10

Pros

  • Regulated by FCA
  • MT4 endorsed

Cons

  • Low leverage