4.13
Accepts UK Clients. Average spread EUR/USD 1.80 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 & MT5 platforms supported. GKFX is regulated by the FCA and B.V.I FSC. 80.95% of traders lose money with this provider.
Pros
- Innovative trading tools
- Wide range of assets
- Low minimum deposit
Cons
- Expensive withdrawals
- Limited education
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.
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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
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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.
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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.
