GKFX Prime Review

Author By Jeffrey Cammack Author Information Updated: November 7, 2020
Overall Rating
3.53 3.53 / 5
Rated #42 of 49 Recommended Brokers
Min. Deposit
USD 5
Regulators
Trading Desk
Trading CostTrading Cost Information
USD 18
Website Language
English
Support Language
English
AlertAccepts Australian 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.

Summary

GKFX Prime was founded by GKG, a Malta-based Fintech company, in 2012 and is regulated by the BVI’s Financial Services Committee. With, no required minimum deposit, a good range of account types – including fixed spread, variable spread and commission-based ECN – and a decent education section, GXFX Prime are a good choice for new traders.

A number of useful tools are also available, including AutoChartist and Trading Central – alongside ZuluTrade and Autotrade for those who prefer social trading – though support is only offered for MT4.

Reviews

Regulation
111104/ 5
Trading Conditions
111003/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
100001/ 5
Education & Research
111003/ 5
Assets Available
11110.54.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Standard
Bonuses
55% Trading Bonus

Account Information

Base Currencies
EUR, USD, GBP
Number of FX Pairs
47
Copy Trading
Yes
Hedging Allowed
Yes
Scalping Allowed
Yes
Islamic Account
Yes

Trading Conditions

Min. Spread
0 pips
Commission
Fees Included in Spread
EUR/USD
0.9
GBP/USD
1.3
USD/JPY
1.7
Max. Leverage
1000:1

Company Details

Company Name
GKFX Financial Services Ltd
Founded
2009
Office Locations
China, Malaysia, Indonesia, Thailand, Vietnam, United Arab Emirates

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.

Scroll for more detailsPreviousNext
Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
ECN Zero Account
USD 5
1000:1
0.0
$10.00
Account Details
Standard Fixed
USD 5
1000:1
1.8
None
Account Details
Standard Variable
USD 5
1000:1
1.3
None
Account Details
VIP Variable
USD 5000
400:1
0.6
None
Account Details

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.

AlertAccepts Australian 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.
Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.53/ 5
USD 5
Market Maker
Commodities, Cryptocurrencies, Forex, Equities
47
5
  • Innovative trading tools
  • Wide range of assets
  • Low minimum deposit
  • Expensive withdrawals
  • Limited education
111104/ 5
111003/ 5
11110.54.5/ 5
100001/ 5
111003/ 5
11110.54.5/ 5
111104/ 5
80.95% of retail investor accounts lose money when trading CFDs with this provider
1000:1
0 pips
Yes
Yes
ECN Zero Account, Standard Fixed, Standard Variable, VIP Variable
Yes
MT4, MT5
Bank Transfer, Mastercard, Maestro, Neteller
Fees Included in Spread
1110.503.33/ 5
AUD 50
Market Maker
Commodities, Cryptocurrencies, Forex, Equities
47
16
  • Well regulated
  • Good for beginners
  • Innovative trading tools
  • Limited education
  • Wide spreads
11110.54.5/ 5
110.5002.5/ 5
111104/ 5
110002/ 5
10.50001.5/ 5
111104/ 5
111104/ 5
71% of retail investor accounts lose money when trading CFDs with this provider
400:1
1 pips
Yes
Yes
Professional, Standard
Yes
etoro
Bank Transfer, Skrill, Paypal
Fees Included in Spread
1110.503.73/ 5
AUD 500
Market Maker
Commodities, Forex, Equities, ETFs
48
0
  • Good range of accounts
  • Wide range of assets
  • Wide spreads
  • Limited education
  • Limited market analysis
  • High minimum deposit
111104/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
10.50001.5/ 5
11110.54.5/ 5
111003/ 5
69.7% of retail investor accounts lose money when trading CFDs with this provider
400:1
3 pips
Yes
Yes
Gold, Islamic, Mini, Platinum
Yes
MT5, Sirix
Bank Transfer
Fees Included in Spread
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