GKFX Review

Forex Broker with Spread Betting
Editor’s Rating: 88

Very Good

Average User Rating:

Very Good

Introduction

GKFX is an online forex brokerage that is licensed by the Financial Conduct Authority (FCA) in the UK. What makes them different from the rest is that they offer an online trading platform not only for spot forex and CFDs but also for spread betting services. They also provide different types of accounts that have benefits and perks to suit the needs of different types of traders. How does their service and features compare to other online brokerages? Continue reading this review to know the answers.

Account Features

Demo Account: Practice with live trading conditions

A demo account is available and the great thing about it is that you can practice forex trading risk-free while still enjoying live prices with live spreads. Do take note that you need to use it on a regular basis of the account will expire after 30 days.

Bonuses: Depends on your account type or agreement

They don’t typically offer promotions and this usually depends on your account type and the agreement that you had with your account manager.

Trading Details

Platform: Dynamic choices

To match the offerings of other brokerages, GKFX also has the MT4 which the highly regarded trading platform for forex trading. They have the MetaTrader 4, the MT4 Web, the WebTrader and the Multi Terminal. All of these platforms are capable of fast trade executions and come with the latest financial news, technical analysis and charting tools.
gkfx platform

Mobile Trading: Flexibility for those on the move

If you’re an on-the-go trader then you can take advantage of their mobile apps and web-based online platform which can give you the flexibility to do all of your trading activities straight from your mobile device.

Minimum Lot Size: Trade with micro lots

You can trade with micro lots with position sizes as low as 0.01. This is an advantage if you’re a newbie trader who usually wants to keep a small exposure for your account.

gkfx lot size

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Maximum Leverage: Up to 1:400

You can trade with a higher leverage and this can be set up to 1:400 which greatly increases your earning potential. However, it is important for you to remember that your trading capital is also at risk.

Spreads: Variable and fixed

With a variable spread, the EUR/USD pair can be traded with just 0.6 pips while fixed spread trading for the same pair is a little higher at 1.2 pips.

Tradable Instruments: More than 300 picks

You can trade on over 300 instruments from their platforms. Aside from the common currency pairs, you can also trade on a selection of CFDs, commodities, oil, metals and stock indices.
gkfx instrument

Deposit & Withdrawal/Support

Minimum Deposit: Start with any amount

You can open an account and make an initial deposit of any amount that you wish. This gives you the liberty to effectively manage your capital since you can initially transfer and amount that you can afford to place.

Deposit Methods: Common payment options

Making a deposit to your account can be done using credit and debit cards, e –Wallet and Bank Transfers which are the most common payment methods.

gkfx deposit

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Withdrawal Processing Time: Same business day or the next

Withdrawal requests that are received before 2pm (UK time) are processed on the same business day. Otherwise, this will be processed on the next business day.

Support

Channels: Variety of contact types

You can get in touch with their account representatives by phone, e-mail or live chat.

Availability: Local working hours

Their lines are open only on local working hours and this is from 7am to 6pm UK time.

Supported Languages: More than 10 choices

They support clients who speak English, Czech, German, Spanish, French, Italian, Polish, Slovenian, Arabic, Russian and Chinese.

gkfx support

User Reviews

Average User Rating: 8.6

This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
gkfx reputation
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Editor’s Opinion

Platform Design: Simple but fluid

The overall platform is very straightforward but when it comes to trade execution, the response is fast and fluid.

Support: Well-trained to handle any issues

Aside from providing a variety of contact types, their account representatives are well-trained to offer help and assistance to their clients. This is noticeable as they are able to answer to almost any question in an instant.

Reputation: A forex and CFD brokerage with spread betting services

Most brokerages nowadays mainly provide the MT4 platform for trading spot forex and CFDs but with GKFX, the same platform is also available for spread betting and this is one of their strongest advantages over their competitors particularly in the UK market.

Conclusion

Editor’s Rating: 88

GKFX has diverted from the industry’s norm by providing a standard platform for trading not only forex and CFDs but also for spread betting. Nowadays, it is rare to find a brokerage that offers such services and with their active license from the FCA, you’ll have peace of mind knowing that they can be trusted.

 

Is This The Right Broker For You?

Yes
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No
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13 comments

    • Elwood Stanford

      You just need a valid email address to register for a demo account with this broker. And they don’t require any cash deposit for you to try the risk-free trades.

      • Dante Carey

        Yes I agree with you mister. Most online forex brokers does not require an initial deposit for the practice account. They will only require you if you are willing to go on a real money account with them, and that is the only time they will require of you valid id’s and documents.

  1. Elwood Stanford

    |Author

    You just need a valid email address to register for a demo account with this broker. And they don’t require any cash deposit for you to try the risk-free trades.

    • Dante Carey

      |Author

      Yes I agree with you mister. Most online forex brokers does not require an initial deposit for the practice account. They will only require you if you are willing to go on a real money account with them, and that is the only time they will require of you valid id’s and documents.

  2. Dorian Beattie

    I installed that apps on my iPhone 6 and so far it is flawless and I have traded as much as I can with gkfx. The only thing I complained about it is that I am not used to a very small screen when trading, though it is adjustable still I want a bigger frame.

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