GKFX broker review (2021) Review
GKFX was founded in 2003 in Malta. GKFX offers fast trade execution and tight spreads. GKFX provides Forex and CFD trading in over 600 assets from the MT4 trading platform. This broker offers a free demo account.
What can you trade with GKFX?
Once you`re registered and logged in, you can trade FX, metals, shares, indices, energies, raw materials and cryptocurrencies. You can trade from any supported browser without additional software or download.
AKFX Financial Services Ltd (GKFX) is a Category II Investment Services company. It`s regulated by the Malta Financial Services Authority (MFSA). The broker is EU-regulated under MiFID and also fully compliant with ESMA regulations.
Users can practice trading with zero risks. You can trade in USD, GBP, or EUR, and access virtual funds up to 100,000 as soon as you register and log in. The possibility to register with a demo account is on the first page, so you can`t miss it.
Simply click on the “test trading demo” button and fill in a small form.
As I have mentioned before, the demo account is free of charge, you can practice your skills without any risk, you can familiarize yourself with the platform and options. How long you may use it, though, I haven`t found it.
Like with most brokers, spreads and commissions are applied to all trades. That`s the revenue of the broker. GKFX’s spreads start from 0.6 pips on EUR/USD on the Standard account and 0.1 pips on the Premium account.
- Forex – from 0.6 pips on EUR/USD (standard account). Zero commissions are charged when trading forex.
- Spreads start from 0.1 pip (on the premium account). Commissions of € 6 per lot are charged.
Market information can be downloaded from the website giving traders all needed information.
– Swap fees are charged when positions are held for longer than a day.
– No deposit fees.
– I haven`t found information on withdrawal fees on different payment methods.
If you`re not sure what account to open, you can compare all features and conditions in the account comparison table.
To register I didn`t need any extra information. When opening a new live account, every new client must pass a few basic compliances checks as with other brokers.
It took me a few minutes only to register. As soon as I have done so, a message pops up, that invites me to go ahead and choose a demo account or a live account.
A few more questions were asked and then a nice summary appeared. I knew what I had opened, platform name, account name, balance, bank account number and server.
Under the “begin” button you`ll then find the information you need to continue. I found that good to read, while you`re waiting for confirmation or a welcome email etc. What you`ll find there:
- account overview
- deposit button (although it’s on the main page)
- transaction history
- economic calendar
The emails I received were immediate, clear and very helpful.
Trading platforms available with GKFX
MetaTrader 4 (MT4), MetaTrader 5 (MT5) and WebTrader. MT4 is the most favourite platform among traders. You can trade FX, metals, shares, indices, energies, and futures pretty much immediately. GKFX offer mobile apps for Android and iOS. It comes with all the basic analytics tools and a back-testing capability is also included. The WebTrader works with any browser or operating system, while the software does not need to be installed on your device.
Check out the WebTrade:
All the login details I have received in an email, co need to stress out. The little red bell at the bottom is live chat. Very nice addition, I think.
The broker’s website
The broker’s website is very nice, modern, clean and straightforward. The top panel offers you these options:
- Platforms and Tools
Each option is a list of other possibilities for you to visit. For example, the “trading” option, offers pages of what you can trade. The “education” option has video tutorials, webinars divided into beginners, traders and experts.
Social networks and GKFX
You can find Facebook pages, YouTube and Instagram. On Facebook, they post facts and economic news daily. You`ll find the same on Instagram and on YouTube you`ll find weekly webinars.
A final summary of advantages and disadvantages
Overall GKFX is a good choice for beginners and experts. It has webinars available and articles, all divided into beginners, traders and experts. GKFX customer support is contactable via:
- Online contact form
- Telephone hotline
- Live chat
On the other side, I am missing some information on the website, like no mention regarding deposit and withdrawal options, fees and more information about the demo account.
- choice of accounts
- demo account
- live chat
- no extra bonuses
- some fees are not clear
- commission of € 6 per lot is charged on the Premium account
- some information missing
Pros / Cons