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GKFX Review
GKFX is a broker that offers forex, CFDs, and spread betting. They provide traders with access to key markets such as currencies, indexes, commodities, and stocks. GKFX is one of the few brokers that offers cryptocurrency CFDs to traders interested in cryptocurrencies such as Bitcoin.
Pros
- Segregates client funds
- Established in 2010
- Regulated by MFSA
- Min. deposit from $20
Cons
- Not ASIC Regulated (See alternatives)
- Not FCA Regulated (See alternatives)
A minimum deposit of $20 is required to establish a live account. Alternatively, GKFX provides a demo account that you may use to exercise and become acquainted with their platform.
Authorized and regulated by the Malta Financial Services Authority (“MFSA”), GKFX keeps all customer funds in a separate bank account and works with tier-1 institutions to do so. GKFX has been in business since 2010 and has a head office in the UK.
Before we get into the specifics of GKFX’s spreads, fees, platforms, and trading tools, you may want to open their website in a new tab by clicking the button below to get the most up-to-date information straight from them.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
What are GKFX’s spreads & fees?
GKFX, like most brokers, charges a commission on the spread, which is the difference between the buy and sell prices of an asset.
The commissions and spreads shown here are based on the GKFX website’s minimum spreads.
| Forex | GKFX | City Index | XTB |
| EUR/USD(Average: 0.7 pips) | 1.5 pips | 0.7 pips | 0.1 pips |
| GBP/USD(Average: 1.1 pips) | 2.0 pips | 1.7 pips | 0.1 pips |
| USD/JPY(Average: 1.1 pips) | 2.0 pips | 0.6 pips | 0.1 pips |
| AUD/USD(Average: 0.8 pips) | 3.3 pips | 0.6 pips | 0.2 pips |
| USD/CHF(Average: 2.3 pips) | 3.0 pips | 2.3 pips | 0.2 pips |
| USD/CAD(Average: 2.9 pips) | 4.0 pips | 0.5 pips | 0.3 pips |
| NZD/USD(Average: 3.6 pips) | 3.0 pips | 2.8 pips | 0.3 pips |
| EUR/GBP(Average: 2.4 pips) | 2.0 pips | 0.5 pips | 0.1 pips |
Spreads are dynamic and are for informational purposes only.
As you can see, GKFX’s minimum spread for trading EUR/USD is 1.5 pips – a very large spread when compared to the average EUR/USD spread of 0.70 pips. The table below compares the costs of trading one lot of EUR/USD with GKFX to similar brokers.
How much does GKFX charge to trade 1 lot of EUR/USD?
If you bought one standard lot of EUR/USD (100,000 units) with GKFX at an exchange rate of 1.1719 and sold it the next day at the same price, you would most likely pay $12. Here is a general breakdown of the fees and how they compare to IG and XTB.
| GKFX | IG | XTB | |
| Spread from: | $ 15.00 | $ 6.00 | $ 2.00 |
| Commission: | $0.00 | $0.00 | $0.00 |
| Total cost of a 100k trade: | $ 15.00 | $ 6.00 | $ 2.00 |
| $9 less | $13 less | ||
| VISIT GKFX | VISIT IG | VISIT XTB |
All fees/prices are for informational purposes and are subject to change.
What can you trade with GKFX?
GKFX provides over 386 different trading products, including over 53 currency pairings. We’ve summarised all of the different types of instruments supplied by GKFX below, along with comparative instruments from IG and XTB.
| FX / Currencies | GKFX | IG | XTB |
| # of forex pairs offered | 53 | 90 | 48 |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes |
| Cryptocurrencies* | Yes | Yes | Yes |
| Commodity CFDs | GKFX | IG | XTB |
| # of commodities offered | 0 | 34 | 21 |
| Metals | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes |
| Agricultural | Yes | Yes | Yes |
| Index & Stock CFDs | GKFX | IG | XTB |
| # of stocks offered | 300 | 8000 | 1606 |
| UK shares | Yes | Yes | Yes |
| US shares | Yes | Yes | Yes |
| German shares | Yes | Yes | Yes |
| Japanese shares | Yes | Yes | Yes |
| SEE GKFX’S INSTRUMENTS | SEE IG’S INSTRUMENTS | SEE XTB’S INSTRUMENTS |
What’s the GKFX trading experience like?
1) Platforms and apps
GKFX is among the few brokers that provides both the MetaTrader 4 and MetaTrader 5 platforms. To discover how the two systems differ, check out our MT4 versus MT5 comparison. Traders may trade with their preferred device thanks to the mix of downloading platforms for both Mac and Windows.
They now provide mobile apps for Android and iOS, making it simpler to monitor and execute transactions while on the go.
Still not sure?
Open a practice account & learn to trade
2) Executing Trades
GKFX allows you to trade with as little as 0.01 Lot. This may differ based on the type of account you establish. The maximum trading requirements differ based on the trader and the instrument. Because GKFX provides STP execution, you may anticipate narrower spreads and greater transparency in the price you pay to execute your transactions.
GKFX may offer lower entry criteria as a market maker than an ECN broker, which benefits from a higher volume of transactions and usually has higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.
Margin requirements, like those of other brokers, vary based on the trader, account, instruments. You can see the latest margin requirements on their website.
Finally, we’ve listed some of the popular funding methods that GKFX offers its traders below.
Trading Features:
- Allows scalping
- Allows hedging
- Offers STP
- Low min deposit
Accounts offered:
- Demo account
- Micro account
- Mini account
- Standard account
- Islamic account
Funding methods:
- Credit cards
- Bank Transfer
- Payoneer
3) Client support
GKFX supports a limited number of languages including English.
4) What you’ll need to open an account with GKFX
Because GKFX is regulated by the Financial Conduct Authority, every new customer must pass a few simple compliance tests to verify that you understand the risks of trading and that you are permitted to trade. When you establish an account, you will most likely be asked for the following information, so have it handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to answer a few basic compliance questions to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to browse their site immediately, it is essential to note that you will not be allowed to execute any transactions until you pass compliance, which can take several days depending on your situation.
To start the process of opening an account with GKFX you can visit their website here.
81.75% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
