In this article, we will do a complete review of the GKFX Broker. We will also answer the question, is GKFX broker a legit broker?
GKFX was started in 2012 and become an award-winning broker. They have processed over 300 million client transactions. They are known for their good customer service which is available 24/7 and in 12 different languages. They also provide you with a range of asset classes that you can trade with.
GKFX is in fact a legit broker who is regulated by two financial regulators but it is not our recommended broker, keep reading the article to find out more. Below is the Summary of the GKFX Broker.
Summary
| Assets Available | 6 Asset Classes Available – Forex, Commodities, Indices, Stocks, Thematic Invest, Cryptocurrency |
| Regulated By | FSC BVI and SECC |
| No. of Trading Platforms | 2 Main Trading Platform – Metatrader 4 & Metatrader 5 ( Works on Mobile, Web, PC, and Mac) |
| Leverage | Up to 1000:1 |
| GKFX Broker Minimum Deposit | No minimum Deposit is Required for most account types |
| Spreads | Spreads start at 0 pips depending on the account types |
| Education Provided | Basic trading education provided |
| Methods of Payment | Credit Cards, Neteller, Skrill, and Bank Wire Transfers. |
Trading Platforms
There are 2 main trading platforms provided by the GKFX Broker which are the MetaTrader 4 and 5 platforms. They also provide two social trading platforms. These are Autotrade and ZuluTrade social trading platforms.
MetaTrader 4 Platform
Metatrader 4 trading platform is one of the best trading platforms out there. It has all the features required for you to do technical analysis. This platform also supports automated trading as well.
MetaTrader 5 Platform
Metatrader 5 trading platform is rising in popularity. It is the successor of the MetaTrader 4 platform. It has all the features of the MetaTrader 4 platform and more. These include more technical indicators and better features.
ZuluTrade Social Platform
Zulutrade is one of the most popular social trading platforms out there. With this platform, you will be able to copy trades from top traders on the platform. Copy trading is not the recommended method of trading, but if you are interested in copy trading then the GKFX trading platform will support it.
Account Types
There are 4 account types provided by GKFX Broker. These are the standard fixed, standard variable, VIP variable, and ECN zero accounts.
Standard Fixed
With the standard fixed account type, you are provided with 43 currency pairs that you can trade with. You are provided with MT4 and MT5 trading platforms to choose from. With this account type, the spread starts from 1.8. There are 3 types of base currencies that you can choose from. These are EUR, GBP, and USD. With this type of account, you can have a very high leverage of 1:1000 but it is not recommended. The maximum volume with the standard fixed account is 50 Lots. Also, the great thing about this account is that there is no commission charged but then again the spreads are not low.
Standard Variable
The standard variable account is quite similar to that of the Standard fixed account. The main difference is that the standard variable account provides 47 Fx pairs that you can trade with. Also, the spread starts from 1.2 which is lower than the standard fixed account. But the spreads are variable which means it changes depending on the market conditions. The number of lots, the leverage, and the base currencies that you can choose from are the same as the standard fixed account.
VIP Variable
The Vip variable account is not for beginner trades or trades without much capital to invest in trading. With the VIP variable account, they require you to deposit at least $5000 in your account. The maximum and minimum volume you can trade with this type of account is the same as the standard fixed and variable accounts. With this type of account, the spread starts from 0.6. There is no commission charged for this account as well.
ECN Zero
For the ECN zero account. The spread starts from 0.0 but there is a commission the broker takes which is $10/Lot. For the ECN zero account, there is no minimum deposit required similar to that of the standard fixed and standard variable accounts.
Instruments Available for Trading
There are 6 different financial instruments that you can trade with this broker.
Forex
GKFX broker provides you with more than 40 forex currency pairs that you can trade with. These include all the major currency pairs, a range of minor currency pairs, and exotic currency pairs. With an ECN account, you will be able to trade starting with 0.0 pips spreads.
Commodities
There are two types of commodities available to be traded with GKFX. These are energy and metal. The oils provided to trade are Brent oil and Natural Gas. The metals available to trade with this broker are Gold, Silver, and palladium.
Indices
There are several indices that you can trade with this broker. These include the German Dax index or NAS100.
Stocks
There is a range of stocks that you can trade with the GKFX broker. These include top shares from US, UK, and European Companies.
Cryptocurrency
GKFX broker offers you a range of cryptocurrencies that you can trade with, these include the top cryptocurrencies like bitcoin and Ethereum.
Thematic Investments
With GKFX you can invest or trade shares in different sectors. These include healthcare, travel & leisure, IoT, cloud computing, ThermaticInvest5G, semiconductor, cybersecurity, e-sports, fintech, clean energy, ESG store, financial and banking, metaverse, and NFT.
Commissions and Spreads
The spreads and commissions depend on the type of account that you create with this broker. The spreads start from 0.0 pips for the ECN account. For standard fixed accounts the spreads start from 1.8. For standard variable accounts, the spread starts from 1.2. For the VIP variable account, the spread starts from 0.6. There is no commission charged for standard fixed, standard variable, and VIP variable accounts. There is a commission of $10/lot for ECN trading accounts.
Leverage Provided
This broker provides a leverage of up to 1000:1, which is very high leverage. It is not recommended to trade with this much leverage. But if you want high leverage this broker is one of the brokers who provide this much high leverage.
Education Provided
Provides basic forex trading education. These include how to open trades, how to do basic technical analysis & fundamental analysis, and other basic trading education. If you are interested in more advanced forex trading education check out our free forex guide. They also host webinars and seminars as well.
Demo Accounts
Yes, this broker does provide you with demo accounts like most brokers out there. Demo accounts are a great way to practice trading with virtual currency. You can select up to $100,000 in virtual currency to trade with the demo account. But as we recommend, choose the amount of money similar to what you are able to deposit in a real account. If you only have $1000 in real cash to trade with, do not open a demo account with more than $1000.
Awards
This broker has won several awards. These include Most Transparent Forex Broker – Asia 2022 (Global Forex Awards 2022), Best Forex Trading Support – Mena 2022 (Global Forex Awards 2022), Best Forex Broker Asia 2022 (Global Forex Awards 2022), Best Forex Broker 2021 (Finance Review) and several more.
Methods of Payments
There is a range of payment methods provided by GKFX Broker. These are bank wire transfers, credit cards, Neteller, and Skrill. These methods work with both withdrawals and deposits.
Customer Support
Provides you with great customer support which is open 24/7. You can call, email, or chat with them 24/7. This is one of the strong points of this broker.
Regulations – Is GKFX Broker Regulated
This broker is regulated by the Financial Services Commission (FSC BVI) and the Securities and Exchange Commission of Cambodia (SECC). Something to note is that these regulators are not the top forex regulators but it is better to choose a broker with regulations than not.
Is GKFX a legit Broker?
Yes, the GKFX broker is a legit broker with great customer support. This broker is regulated by 2 regulatory firms. GKFX also provides a range of platforms, including a social trading platform to trade with. But GKFX is not the broker that we recommend. Check out below for recommended forex brokers.
Top Forex Brokers
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