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GKFX Prime Broker Review

FX Author By Jeffrey Cammack Author Information Updated: July 4, 2020
Overall Rating
3.53 3.53 / 5
Min. DepositUSD 5
Max. Leverage1000:1
Min. Spread0.0 pips
Regulators FCA,B.V.I FSC
Regulator Origin FCA B.V.I FSC
Trading Desk Type

Summary

GKFX is a new and popular broker on the Asian market, winning many of the most industry's most respected awards - the first coming only a year after their launch in 2012.  It offers massive leverage of up to 1:1000, no minimum deposits for new traders, Islamic versions on all accounts and a strong focus on integrity and quality service for its clients.

A number of useful tools are also available, including AutoChartist and Trading Central - alongside ZuluTrade and Autotrade for those who prefer social trading - and the MT4 platform is fully supported, with hedging and scalping allowed.

Reviews

Regulation 11110
Trading Conditions 11100
Trading Platforms 11110.5
Deposit & Withdrawal 10000
Education & Research 11100
Assets Available 11110.5
Customer Service 11110
Beginner Friendly Standard
Bonuses 55% Trading Bonus
Our Review Process

Trading Conditions

Minimum DepositUSD 5
Base currenciesUSD, EUR, GBP, AUD
Number of FX Pairs53
Hedging Allowed Yes
Scalping Yes
Islamic Account Yes

Average Spreads

EUR / USD
GBP / USD0.4
USD / JPY0.3

Company Details

Company nameGKFX Financial Services Ltd
Founded2009
Website www.gkfxprime.com
Type Market Maker
Regulators FCA,B.V.I FSC
Office locations China, Malaysia, Indonesia, Thailand, Vietnam, United Arab Emirates

Deposit & Withdrawal Methods

Supported Platforms for GKFX Prime

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.

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

Compare CFD Brokers

Overall Rating 1110.50 3.53 / 5 11110.5 4.58 / 5 11110.5 4.49 / 5
Minimum DepositUSD 5USD 5USD 5
Regulation
FCA FCA
B.V.I FSC B.V.I FSC
CySEC CySEC
ASIC ASIC
IFSC IFSC
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
Trading Desk Type
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Spread BettingCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, EnergiesCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies, Bonds
Forex Pairs535751
Crypto Pairs54
Pros
  • Innovative trading tools
  • Wide range of assets
  • Low minimum deposit
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Expensive withdrawals
  • Limited education
  • Dealing desk
  • Limited base currencies
Read Full Review Read Full Review
Regulation 11110 4 / 5 11111 5 / 5 11111 5 / 5
Trading Conditions 11100 3 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Trading Platforms 11110.5 4.5 / 5 11110.5 4.5 / 5 11110 4 / 5
Deposit & Withdrawal 10000 1 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Education & Research 11100 3 / 5 11111 5 / 5 11110.5 4.5 / 5
Assets Available 11110.5 4.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Customer Service 11110 4 / 5 11110 4 / 5 11110.5 4.5 / 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
Leverage1000:1888:11000:1
Spread0.0 pips0.6 pips0.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • VIP Variable (Vip)
  • XM Zero (Standard)
  • Zero (Standard)
Islamic Account Yes Yes Yes
Trading Platforms MT4 , Sirix MT4 , MT5 MT4 , MT5
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, VLOAD, Unionpay
Trading Commission Fees Included in Spread 7 USD / lot - XM Zero Account 6 USD / lot - Zero Account
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Overall Rating 1110.50 3.53 / 5 11110.5 4.58 / 5 11110.5 4.49 / 5
Minimum DepositUSD 5USD 5USD 5
Regulation
FCA FCA
B.V.I FSC B.V.I FSC
CySEC CySEC
ASIC ASIC
IFSC IFSC
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
Trading Desk Type
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Spread BettingCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, EnergiesCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies, Bonds
Forex Pairs535751
Crypto Pairs54
Pros
  • Innovative trading tools
  • Wide range of assets
  • Low minimum deposit
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Expensive withdrawals
  • Limited education
  • Dealing desk
  • Limited base currencies
Read Full Review Read Full Review
Regulation 11110 4 / 5 11111 5 / 5 11111 5 / 5
Trading Conditions 11100 3 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Trading Platforms 11110.5 4.5 / 5 11110.5 4.5 / 5 11110 4 / 5
Deposit & Withdrawal 10000 1 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Education & Research 11100 3 / 5 11111 5 / 5 11110.5 4.5 / 5
Assets Available 11110.5 4.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Customer Service 11110 4 / 5 11110 4 / 5 11110.5 4.5 / 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
Leverage1000:1888:11000:1
Spread0.0 pips0.6 pips0.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • VIP Variable (Vip)
  • XM Zero (Standard)
  • Zero (Standard)
Islamic Account Yes Yes Yes
Trading Platforms MT4 , Sirix MT4 , MT5 MT4 , MT5
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, VLOAD, Unionpay
Trading Commission Fees Included in Spread 7 USD / lot - XM Zero Account 6 USD / lot - Zero Account

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

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