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4.13
/ 5
Accepts UK Clients. Average spread EUR/USD 1.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. GKFX is regulated by the MFSA, FCA and B.V.I FSC. 80.95% of traders lose money with this provider.
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GKFX Prime will appeal to traders looking for a regulated MetaTrader broker with VPS hosting services and a good selection of analysis tools. GKFX Prime also offers two live accounts with average trading costs compared to other similar brokers.
Founded in 2012, GKFX Prime is a well-regulated market maker with two live accounts on the MT4 and MT5 platforms. GKFX offers the MT4/MT5 Boost, a plugin that provides additional functionality to the trading platforms. It also offers Autochartist and Trading Central for free, two of the best technical analysis tools in the industry. A free VPS service is also provided to traders who deposit 2,000 EUR or more.
With two live accounts, trading costs are around the industry average. GKFX Prime’s commission-free Standard Account requires a minimum deposit of 200 EUR, and spreads that start at 1.1 pips on the EUR/USD, which is wider than other similar brokers. Trading costs improve on its Premium Account with spreads that start at 0.1 pips (EUR/USD) in combination with a commission of 6 EUR in exchange for a minimum deposit of 25,000 EUR, which may appeal to more experienced traders.
While GKFX Prime’s educational and market analysis materials are not as comprehensive or in-depth as some of the larger international brokers, it will still be useful for both beginners and more experienced traders.
| 🏦 Min. Deposit | EUR 200 |
| 🛡️ Regulated By | MFSA, B.V.I FSC, SECC |
| 💵 Trading Cost | USD 11 |
| ⚖️ Max. Leverage | 30:1 |
| 💹 Copy Trading | Yes |
| 🖥️ Platforms | MT4, MT5 |
| 💱 Instruments | Forex, Stock CFDs, Indices, Commodities, Cryptocurrencies |
Yes, GKFX Prime is a safe broker to trade with. It maintains regulation from some of the top regulators, including Malta’s FSA, BaFin of Germany, the CNMV of Spain and is registered in the British Virgin Islands.
Founded in 2012 and headquartered in the British Virgin Islands, GKFX Prime is regulated by the Financial Services Authority (FSA) of Malta, the Securities and Exchange Commission of Cambodia (SECC), BaFin of Germany, Spain’s CNMV, and the Financial Services Commission of the British Virgin Islands (FSC BVI). See below for details on GKFX Prime’s subsidiaries:
UK residents will be trading under the subsidiary, AKFX Financial Services Limited, part of the Global Capital Group. AKFX Financial Services Limited is authorized and regulated by the Malta Financial Services Authority (MFSA). AKFX Financial Services Limited provides its services outside Malta under the EU MiFID II Directive. As such, it seeks to protect traders by enforcing leverage restrictions (up to 30:1), ensures that brokers segregate client money from their operating capital and that they provide their clients with negative balance protection.
In line with these regulatory requirements, GKFX does not offer its traders bonuses or promotions and participates in a client protection program, namely the Investor Compensation Scheme (ICS). The ICS safeguards traders against financial failure or insolvency cases and provides up to 20,000 EUR per trader should the company be liquidated.
Awards
GKFX Prime has won numerous awards since its inception, including:
Overall, considering its history of responsible behaviour, strong international regulation, and wide industry acclaim, GKFX Prime is a safe broker to trade with.
GKFX Prime’s trading fees are higher than other similar brokers.
GKFX Prime offers three commission-free accounts and an ECN account with tighter spreads and a commission per lot. There are no minimum deposit requirements on three of its accounts, but to open a VIP Variable Account, traders need to make a deposit of at least 5,000 USD (for more on GKFX’s accounts, click here).
GKFX Prime’s accounts were assessed to compare the costs to those of other brokers. When making this calculation, we use one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread. In a welcome show of transparency, GKFX Prime publishes its average spreads alongside each financial instrument for all of its account types.
The costs were evaluated based on the trading fees on one lot (100 000 USD) on the EUR/USD, including the spread and commission:
Spread x Trade Size + Commission = Total Trading Cost (USD):
As you can see from the table above, the trading costs on the Premium Account are lower than the costs on the Standard Account. However, Premium account-holders need to maintain a minimum account balance of 25,000 EUR, which puts it only within the reach of serious beginners or more experienced traders. Additionally, the trading costs on the Premium Account are slightly below the industry average (which tends to be 9 USD per lot of EUR/USD), while the costs on the Standard Account are slightly above the industry average.
Swap Fees
The other trading costs to consider are the swap fees for positions held overnight. The swap/rollover fee is the interest rate differential between two currencies of the Forex pair you are trading. Clients pay and earn interest for both currencies (for borrowing one and lending the other). You are subject to overnight financing only if your positions are open past 10 pm UK time (GMT 22:00).
Depending on the pair, volume, and the order type (long or short), your accounts will be charged or credited at rollover time automatically. Please note that accounts are charged/credited for 3 days at spot value on Wednesdays or Fridays, depending on the product. GKFX Prime publishes all swap fees alongside each instrument on its website. For example, the swap rates on 1 lot of EUR/USD are -5.40 for a long position and +0.35 for a short position.
Overall, GKFX Prime’s trading fees are higher than average on its Standard Account and lower than average on its Premium Account, but this requires a minimum deposit of 25,000 EUR.
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.
GKFX Prime’s non-trading fees are lower than those charged by other similar brokers.
Some of the most overlooked trading costs are the non-trading fees that are charged by brokers. These fees can significantly affect your profitability and so should be carefully scrutinised.
However, at GKFX Prime no fees are charged for deposits or withdrawals, and GKFX Prime does not charge inactivity fees on dormant accounts. This is a welcome development in an industry that charges fees on most transactions.
GKFX Prime has a fast and hassle-free account opening process, with quick verification.
British traders are eligible to open an account at GKFX Prime, but have to meet the following minimum deposit requirements to do so:
GKFX Prime offers both corporate and individual accounts, but we will outline the four-step process for opening an individual account:
We suggest you read GKFX Primes risk disclosure, customer agreement, and terms of business before you start trading.
Overall, GKFX Prime’s account-opening process is quick, efficient, and accounts are generally ready for trading within a matter of hours.
GKFX Prime offers two live accounts and a demo account, which is average compared to other brokers, and the accounts are suited to both beginners and more experienced traders.
GKFX Prime offers trading on five different instruments, including Forex, commodities, indices, stocks, and cryptocurrencies (click here for more on GKFX Prime’s tradable instruments). GKFX Prime offers two live accounts and a demo account.
The reasonable minimum deposit of 200 EUR makes the Standard Account accessible to beginner traders. We define beginner traders as inexperienced traders who have never traded before or have been trading for less than a year. Beginners often do not want to risk trading large sums of money, and will generally not be able to trade full-time during the workweek.
However, experienced traders generally prefer paying higher minimum deposits in exchange for tighter spreads. GKFX Prime’s Premium Account has an extremely tight spread, averaging at 0.1 pips on the EUR/USD in addition to a commission of 6 EUR. However, this is in exchange for a minimum deposit of 25,000 EUR, making it only accessible to more experienced traders.
Traders can choose between the MetaTrader 4 and MetaTrader 5 platforms and GKFX Prime allows all trading strategies, including hedging, scalping, and copytrading. It also offers swap-free accounts. See below for account details:
Standard Account
A commission-free trading account, fixed spreads start at 1.80 pips on the EUR/USD, which is marginally wider than other similar brokers. The minimum deposit on this account is 200 EUR and leverage is up to 30:1. Trading is available on over 42 FX pairs and the maximum trading volume is up to 100 lots.
Premium Account
GKFX Prime’s only ECN account, variable spreads start at 0.0 pips on the EUR/USD, maximum trading volume is 100 lots, and leverage is up to 30:1. The account offers trading on 42 FX pairs, and a commission of 6 USD round turn per lot is charged, but this is in exchange for a minimum deposit of 25,000 EUR.
Demo Account
GKFX Prime offers a free unlimited demo account where users can practice trading on MT4/MT5 platforms with zero risks. Virtual funds of up to 100,000 USD/EUR/GBP are loaded onto the demo accounts.
Islamic Account
An optional swap-free or Islamic account option is available for all traders by request. Some small differences 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 spreads start at 2.5 pips on this account, and a commission of 10 USD/lot per day is charged on all positions that are open for more than five consecutive nights.
The wider spreads are in place to make up for the revenue lost by the broker that would have been gained by charging interest for holding the positions overnight.
GKFX offers an average number of deposit and withdrawal methods, and no commissions are charged.
A well-regulated broker, GKFX Prime does not process payments to third parties. All withdrawal requests from a trading account must go to a bank account or a source in the trader’s name.
Deposits and withdrawals are accepted via bank transfers, credit cards, local banks, and e-wallets. No deposit or withdrawal fees are charged. Most deposit methods are instant.
Withdrawals by bank transfer take anywhere from 1 to 5 business days, depending on the country, and 3 – 5 business days for credit card transfers. Credit card deposits may cause minor additional charges due to exchange rate differences.
GKFX Prime offers four base currencies, which is limited compared to other brokers.
At GKFX, traders can only choose from four base currencies: USD, GBP, EUR, and JPY. This is limited compared to most other international brokers, who usually allow accounts to be denominated in between 5 – 10 base currencies.
While most UK residents will want to have their trading accounts denominated in GBP, some traders may want to have multiple accounts with different base currencies so as not to pay conversion fees when trading. Conversion fees can make trading expensive, and are usually not presented on the fee report, but affect profitability.
For traders that trade in large volumes (more than 10 lots a month), it is better to open an account denominated in USD at a digital currency bank, especially for trading on assets such as the EUR/USD. This is because when trading a USD quoted currency pair with a GBP account, there will be a small conversion fee for every trade made.
Overall, GKFX Prime offers fewer trading account currencies than most other large international brokers, but it offers accounts denominated in GBP.
GKFX Prime offers two trading platforms, which is average compared to other similar brokers.
GKFX Prime offers trading on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. While MT4 and MT5 are both excellent trading platforms, many other CFD brokers also offer their own web-based platforms, which tend to be easier to use for beginner traders. On the other hand, the benefit of GKFX Prime offering third-party platforms such as MT4 and MT5 is that traders can take their own customised version of the platform with them should they choose to migrate to another broker. Additionally, there are thousands of plugins and tools available for the MetaTrader platforms.
MetaTrader 4
MT4 has established itself as the industry standard, and is widely recognised for its fast execution speeds, range of charting tools, algorithmic trading, and customisability. Other features of GKFX Prime’s MT4 include:
MetaTrader 5
Continuing its predecessor’s reputation, the MT5 platform provides traders with everything they need to trade the financial markets. It incorporates all of the key features of MT4 and an optimised environment for EA trading. Features include:
Overall, although GKFX Prime only offers the Metatrader suite of platforms, which are not as beginner-friendly as the proprietary platforms offered at other brokers, MT4 and MT5 are considered some of the best third-party platforms in the industry.
GKFX Prime’s mobile trading platforms are average compared to other similar brokers.
GKFX Prime offers support for MT4 and MT5 mobile trading apps for Android and iOS. Traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts.
GKFX Prime’s trading tools are excellent compared to other similar brokers.
GKFX offers a number of useful trading tools, including Autochartist, Trading Central, a VPS service, the MT4/MT5 Booster tools, in addition to the Autotrade and Zulutrade Apps for social trading. It also offers the PAMM account management system.
Autochartist
Autochartist is an award-winning automated technical analysis tool that works with MT4 and identifies trading opportunities across hundreds of financial instruments. Autochartist is free to all GKFX Prime clients.
Autochartist’s advanced recognition engine identifies the strongest potential trading opportunities and predicts future price movements. Some of Autochartist’s key features are:
Autochartist is one of the best technical analysis tools on the markets, and GKFX Prime does well to offer this tool to its clients.
Trading Central
A tool that provides a technical market analysis from third-party industry experts. Trading Central’s top-notch indicators can help guide client trades through an easy-to-access platform. It is intuitive, scans the market for opportunities 24/7, and provides a comprehensive analysis and constant notification alert system.
VPS (Virtual Private Server) Hosting
According to its website, GKFX has developed its own VPS hosting service – a private platform, reserved for select clients, who can access it remotely. The server works day and night, executing orders and running automated strategy robots.
There are three different VPS packages available at GKFX Prime:
VPS services ensure trades are never disrupted by technological or connectivity issues, such as load-shedding or internet service failure, which is a benefit to algorithmic traders who need to be connected to a server 24/7 to maximise uptime.
MT4/MT5 Booster
Designed to enhance the MT4 and MT5 platforms, the Booster comes with 9 add-ons, including new charts, indicators, and UI options to optimize trading performance. The package is available for all retail clients who deposit at least 2,500 USD. A few of the tools are highlighted below:
PAMM
GKFX Prime’s PAMM service allows traders to invest in proven strategies executed by expert traders and take a share of the profit. Benefits of using the PAMM system include:
GKFX Prime offers a limited range of tradable assets compared to other large international brokers.
GKFX Prime’s range of financial instruments for CFD trading (click here for more details on CFD trading), includes Forex, share CFDs, commodities, cryptocurrencies, and indices.
Overall, GKFX Prime offers a limited range of tradable instruments on MT4 and MT5, which may leave more experienced traders dissatisfied.
GKFX provides a comprehensive and well-structured selection of educational materials. It also provides a daily news update and weekly market analysis videos. Educational materials are presented in both written and video formats.
GKFX Prime’s educational videos and articles are organised into beginner, trader, and expert categories:
GKFX Prime also offers a free downloadable e-book and regular webinars and seminars. Webinars and seminars are educational in nature and also allow traders to expand their professional networks.
While GKFX Prime’s educational content is not as broad or in-depth as the best trading educators, like BDSwiss or IG Markets, it is still better than most market maker brokers and will be useful for both beginners and experienced traders.
While GKFX Prime’s educational content is not as broad or in-depth as the best trading educators, like BDSwiss or IG Markets, it is still better than most market maker brokers and will be useful for both beginners and experienced traders.
The market analysis materials available at GKFX Prime are limited compared to other brokers.
GKFX Prime offers a daily selection of major news and articles that explain the current market sentiment. These articles are curated by the GKFX Prime in-house research team, and although the articles are brief, the information is relevant and insightful.
The weekly videos are created by a team of analysts that explain the highlights of the past week and financial market expectations of the upcoming week.
GKFX Prime’s customer support is available via email, inline contact form, telephone, and live chat. Support is available 24 hours a day, from 10 pm Sunday – 10 pm Friday. The website is available in nine languages.
We found the customer support largely unresponsive – we could not get answers to our questions via email, and the live chat feature was not functional.
We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the GKFX Prime product offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.
Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. GKFX Prime would like you to know that: All financial products traded on margin carry a high degree of risk to your capital. They are not suited to all investors, and you can lose more than your initial deposit. Please ensure that you fully understand the risks involved and seek independent advice if necessary.
GKFX Prime is a well-regulated market maker broker offering multi-asset trading on two live accounts on the top industry platforms. The trading costs on its Standard Account are around the industry average, and the minimum deposit requirement of 200 EUR makes it accessible to beginner traders. Trading costs improve in its Premium Account, but this is in exchange for a high minimum deposit requirement of 25,000 EUR.
The educational materials are comprehensive, though not as good as the best brokers in this space, and its market analysis materials are lacking. However, traders can access a range of useful trading tools, including Autochartist, Trading Central, a VPS service, and various copy trading platforms, some of which are available at an extra cost.
Accepts UK Clients. Average spread EUR/USD 1.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. GKFX is regulated by the MFSA, FCA and B.V.I FSC. 80.95% of traders lose money with this provider.
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