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GKFX Prime Broker Review

FX Scouts By Jeffrey Cammack Updated: September 12, 2019
Average Score
3 / 5
Min. Deposit USD 5
Max. Leverage 1000:1
Min. Spread 0.0 pips
Regulators B.V.I FSC
Regulator Origin B.V.I FSC
Broker Type Market Maker

Summary

GKFX is a young and distinguished broker on the Asian market winning many of the most respected industry awards - the first coming only a year after their launch.  They offer massive leverage of up to 1:1000, no minimum deposits for new traders and a big focus on integrity and quality service to their clients.

The account types offer traders with everything they could want, without making it too complicated, and the MT4 platform is one that all traders will find comfort in using.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Bonuses 55% Trading Bonus
Beginner Friendly Standard
About our review process

Trading Conditions

Minimum Deposit USD 5
Base currencies USD, EUR, GBP, AUD
Number of FX Pairs 53
Hedging Allowed
Scalping
Swap-Free Accounts

Average Spreads

EUR / USD
GBP / USD 0.4
USD / JPY 0.3

Company Details

Company name GKFX Financial Services Ltd
Founded 2009
Website Visit Website
Type Market Maker
Regulators B.V.I FSC
Office locations China,Malaysia,Indonesia,Thailand,Vietnam,UAE

Deposit & Withdrawal Methods

Supported Platforms for GKFX Prime

GKFX Prime Broker Detailed Review

Is GKFX Prime Safe?

Founded in 2014 this broker has won awards and the respect of the trading community.  Regulated by the FCA (UK) is given permission to provide regulated products and services under this license.

Awards

Awards are easily awarded to the better brokers, and GKFX started winning awards the year after they started taking clients.

  • Best Investment Trading platforms 2015 – AIAIR Awards
  • Best Broker of Mena and Africa 2016 – 12th Mena Forex Award
  • Best Islamic Account Broker 2017 –  IHL
  • Best Broker of Asia in 2017 – Balans DHL
  • Best Forex Trading Platform 2017 – Bergen

Account Types

Fixed spread and variable spread account types are offered to GKFX clients, with an optional swap-free option (detailed below).  GKFX offers three different standard account types to traders.

While there are no minimum deposits on the first two standard accounts above, we always recommend a minimum $200 balance to clients in order to avoid stopping out easily.

Islamic Account

An optional swap-free or Islamic account option is available for all traders who request it.  There are some small differences that separate it from the standard account, but much of the details are the same.

There is no minimum deposit and leverage is still available up to 1:400, but the spreads start at 2.5 pips and a commission of 10 USD per lot per day is charged on all positions that are open for 5 consecutive nights.

The wider spreads are in place to make up for the revenue lost by the broker that would have otherwise have been made by charging interest for holding the positions overnight.

Bonuses

There are two promotions for new accounts in Malaysia. Clients can receive a $55 No deposit bonus and a 55% bonus on their initial deposit. Clients can also receive a $5 rebate on our refer-a-friend promotion.  To register to receive these bonuses, click here.

There are very few brokers who have a no deposit bonus in Malaysia, so this feature is something that should stand out to you if you are comparing brokers.

Trading Platforms

GKFX offers the MT4 trading platform on both mobile and desktop. Clients can also use MT4 Webtrader, which will run in a web browser. Additionally, clients can use Sirix Web Trader and Money managers can use the in-house MAM platform which has a really smooth user interface which is not usual for this kind of software.

GKFX will soon start offering clients the MT5 trading platform.

Deposit & Withdrawal

Payments are accepted via bank transfers, credit card, local banks, and E-wallet. As with all other regulated brokers, customers must provide KYC (know your customer) documents which are in line with anti-money laundering laws.  These documents usually consist of submitting a copy of your passport and a proof of address, such as a recent utility bill.

Withdrawal is by bank transfer & credit/debit card.  Band transfer takes anywhere from 1 to 5 business days, depending on the country, and 3 – 5 business days for credit card transfers.  There are no fees for withdrawing.

Most retail CFD accounts lose money. Your capital is at risk.

Compare Brokers

Overall Rating 3/5 4/5 4/5
Minimum Deposit USD 5 USD 5 USD 5
Regulation
B.V.I FSC B.V.I FSC
CySEC CySEC
FCA FCA
ASIC ASIC
IFSC IFSC
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
Broker Type Market Maker Market Maker ECN/STP
Read Full Review Read Full Review
Trading Conditions 2 / 5 4 / 5 4 / 5
Trading Platforms 3 / 5 4 / 5 3 / 5
Deposit & Withdrawal 4 / 5 4 / 5 4 / 5
% Lose with this broker 80.95% of retail investor accounts lose money when trading CFDs with this provider 69% of retail investor accounts lose money when trading CFDs with this provider 72.83% of retail investor accounts lose money when trading CFDs with this provider
Leverage 1000:1 888:1 1000:1
Spread 0.0 pips 0.6 pips 0.0 pips
Hedging
Scalping
Account Types
  • Mini,Vip
  • Mini,Standard
  • Standard,Mini
Trading Platforms MetaTrader4, WebTrader, Sirix MetaTrader4, MetaTrader5, WebTrader MetaTrader4, WebTrader
Funding Methods Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, Unionpay
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GKFX Prime

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HotForex

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Overall Rating 3 / 5 4 / 5 4 / 5
Min. Deposit USD 5 USD 5 USD 5
Regulation
B.V.I FSC B.V.I FSC
CySEC CySEC
FCA FCA
ASIC ASIC
IFSC IFSC
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
Broker Type Market Maker Market Maker ECN/STP
Read Full Review Read Full Review Read Full Review
Trading Conditions 2 / 5 4 / 5 4 / 5
Trading Platforms 3 / 5 4 / 5 3 / 5
Deposit & Withdrawal 4 / 5 4 / 5 4 / 5
Risk Disclaimer 80.95% of retail investor accounts lose money when trading CFDs with this provider 69% of retail investor accounts lose money when trading CFDs with this provider 72.83% of retail investor accounts lose money when trading CFDs with this provider
Leverage 1000:1 888:1 1000:1
Spread 0.0 pips 0.6 pips 0.0 pips
Hedging Allowed Yes Yes Yes
Scalping Allowed Yes Yes Yes
Platforms MetaTrader4, WebTrader, Sirix MetaTrader4, MetaTrader5, WebTrader MetaTrader4, WebTrader
Funding Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, Unionpay

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Most retail CFD accounts lose money. Your capital is at risk.