GKFX Review

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GKFX is a modern CFD broker with its headquarters in the UK. Its regulation by the Financial Conduct Authority raises confidence of traders due to a 100% deposit insurance of £50,000. GKFX is the sole broker in the world to offer trading in spread betting form and also on the MetaTrader 4 platform. A wide range of support tools help clients to achieve profitable trades, making GKFX a promising broker.

Trading

GKFX is a broker characterised by a relatively wide range of CFD trading instruments and with perfect analytical tools such as Trade Central, AutoChartist and Strategy Builder.

Thanks to a variable spread you can get 0.6 pips at the EUR/USD pair and 1.2 pips with fixed spread trading. Besides the traditional forex pairs, including various exotic pairs at GKFX there is also a possibility of trading CFDs, commodities, metals, oil and stock indices. All of the instruments can be traded both in classic mode and in spread betting mode.

Trading platforms

The main trading platform at GKFX is the legendary MetaTrader 4, which is very well known by experienced traders. The advantage of MT4 is its high speed order processing and extensive scalability of the platform. The software also contains a section where you can download additional technical indicators and trading robots, some free of charge, others chargeable. More experienced traders can create their own individual indicators or trading robots within the development environment of MT4. The icing on the cake is the ability to copy other traders, and for a fee paid from the generated profit, achieve the same results as they do.

Clients who deposit at least $2,000 to their account receive an upgrade to MT4 Boost, whose Metal Trader functionality reaches a new level. More than 10 new expansions are introduced, for example Correlation Matrix and Sentiment Trader, through which the mood of the markets can be captured and trading orders adjusted accordingly.

The second trading platform, intended mainly for new traders, is Sirix Trader, which is very popular due to its capability of copying the trades of other traders with ease. Sirix, in contrast to the MetaTrader, runs in a web browser.

Trading Central and AutoChartist

A number of traders nowadays base their decisions on the results of analytical software, but it is often relatively expensive. GKFX is one of the few global brokers to provide their clients with access to two analytical services free of charge: Trading Central and AutoChartist.

Both analytical applications automatically search for price chart formations, which they use to determine further market development. The analytical software also includes a historical database from which it can be determined that some of the formations are reaching a success rate of over 80%. Clients with a deposit of $2,000 and over receive complimentary access to both analytical services.

Account Types

The basic account type in GKFX is Standard with the spread from 1.2 pips on EUR/USD, with a minimum deposit requirement of $10 and a minimum lot size position of 0.1. Smaller positions of 0.01 lots can be opened with a Micro Account, where the spread is 1.5 pips on EUR/USD.

VIP clients with deposits of € 25,000 and over gain a spread of 0.6 pips with minimum position size of 1 lot. Accounts can be opened in a floating spread mode, so even a standard account can be below 1 pip during business hours.

Bonuses

GKFX rewards new customers with a 40% deposit bonus, which can be as high as a respectable €8,000 ($8,800). Such a large bonus can be used as a perfect capital reserve to help overcome unfavourable periods. The minimum deposit required to receive the bonus is €1,000 ($1,100), which will lead to a bonus of €400 ($440). To credit the bonus to the account, it is required to contact customer support within two days of the deposit.

Education

GKFX is committed to educating its clients, regularly organising webinars about various trading sector topics. Webinars can be viewed on YouTube and Vimeo, where the broker has published over 300 educational videos.

Deposits and withdrawals

GKFX accepts almost of all major credit cards including MasterCard, Visa, JCB,  Discover, Laser, Carte Bleue and Dankort. An equally quick and easy method of deposit is by web wallets through Skrill, iDEAL and Sofort. Deposits from credit cards and web wallets work well, the money transferred to your account can be accessed immediately. Larger deposits can be sent using a standard bank transfer. Payments are sent within the European Union under the SEPA payment method, so that the money arrives in the account usually within three working days.

It is necessary to have a verified account for withdrawals, as with any licensed broker. The broker processes the withdrawal within one working day and in the next two to three working days you can expect the money to be accessible in your bank account. In the case of withdrawal by the electronic wallet, the money can be expected within 24 hours.

License and security

The company address of GKFX Financial Services Ltd is 30 Charles II Street, London, SW1Y 4AE, the operation is supervised by the Financial Conduct Authority under license number 501320. Together the presence of a London office and regulation by the FCA represents prestige and high credibility.

Every GKFX client has their deposits insured up to £50,000 and since the beginning of 2016 the FCA has increased this insurance limit to £70,000. In addition, client funds are kept separate from the company's operating capital in large European banks.

GKFX.com vs GKFX-ecn.com

There has been confusion about brand GKFX-ecn.com and its connection to GKFX.com, are they the same company or is some one just using GKFX brand etc? Truth is, GKFX-ecn.com is a Russian based company that just uses the name of GKFX. They are kind of sisters company, so not entirely different subject, but they are much more separated than just Russian branch.

Biggest difference is not in type of dealing desk whether Market maker or ECN or STP etc. Biggest difference is in licenses. Whereas GKFX.com and GKFX.co.uk are very well licensed by FCA, GKFX-ecn.com is basically unregulated and is mostly focused on Russian traders.

Not having a license doesnt mean GKFX-ecn.com is a scam, but having your money on fully licensed branch of GKFX.com or GKFX,co,uk is way better choice.

Review summary

GKFX is an appropriate broker for anyone who is looking for a strong and safe partner for their trading. Advanced trading options through extended MetaTrader Boost and AutoChartist analytic software or Trade Central gives traders a powerful arsenal for the execution of profitable trades.

The best way to see the quality of the broker is to open a free demo account and experience trading and the level of customer service. Those who continue trading with GKFX can take advantage of the 40% deposit bonus and start live trading with a significantly boosted capital.

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