GKFX Review 2024 with Rankings By Dumb Little Man

By Wilbert S

January 10, 2024   •   Fact checked by Dumb Little Man

Overall Rating

Overall Ranking

Trading Terminals

2.0

75th

AdvantagesDisadvantages
Prompt responses from the support team

Informative and helpful support representatives

Multilingual support for global clients
Not available 24/7

GKFX Review

In the world of online trading, Forex brokers and CFD providers are the essential gateways. These platforms offer traders access to a wide array of financial markets. Among these providers, GKFX Prime stands out as a significant player. The broker is celebrated for its extensive range of over 400 trading instruments, competitive pricing, and precise execution.

A noteworthy feature of GKFX is its commitment to robust regulation. This adherence ensures the safety and security of trader investments. The review that follows aims to offer a detailed and comprehensive evaluation of GKFX. It highlights both the unique selling propositions and the potential limitations of the broker.

You can expect a thorough rundown of various facets of the GKFX service. These include account options, deposit and withdrawal processes, as well as commission structures. The goal of this review is to equip you with essential information, combining both expert analysis and actual trader experiences. This balanced perspective will help you make an informed decision on considering GKFX as your preferred brokerage service provider.

What is GKFX?

GKFX Prime was established in 2012 and quickly rose to prominence as a leading brokerage firm. Known for its innovation and world-class customer service, the broker operates under the brand name of AKFX Financial Services Ltd. Importantly, it falls under the regulation of the Malta Financial Services Authority (MFSA), adding an extra layer of security for traders.

The firm has a global footprint, serving clients in 20 countries and offering services in 12 languages. This international reach makes it a versatile option for traders from various backgrounds. Its product portfolio is diverse, offering a range of trading instruments that include Forex, Stocks, Indices, Commodities, and Cryptocurrencies.

GKFX Prime has seen some modifications throughout the years, including a name change. It has gone by several names, including GKFX and GKFX Pro. As of the latest available information, GKFX does not operate in the UK but maintains its regulation in Malta. This detail could be important for traders specifically looking for a UK-regulated broker.

Safety and Security of GKFX

One crucial aspect to consider when choosing a broker is safety and security. Information gathered from thorough research by Dumb Little Man shows that GKFX Prime is located in the British Virgin Islands. It falls under the regulatory umbrella of the Financial Services Commission (FSC) of the BVI. This regulation is a vital component in establishing the credibility and safety of the broker.

Regulation by the Financial Services Commission (FSC) isn’t exclusive to GKFX Prime. All Forex companies in the BVI are regulated by the FSC, ensuring consistent enforcement of rules. However, it’s worth noting that brokers located in tax havens often get mixed reviews. This skepticism is due to scams originating from relatively unknown jurisdictions.

Despite widespread skepticism about tax havens, the British Virgin Islands is a reliable investment destination. It has a strong economy and a stable financial regulatory system. GKFX Prime, as part of the Global Kapital Group, goes above and beyond in terms of security. It follows regulations established by a number of reputable organizations, including BaFin, CONSOB, CNB, and the AMF. This multi-tiered regulatory strategy emphasizes the broker’s commitment to operational integrity.

>> Also Read: Top Forex Scams: How to Spot and Avoid Them

Sign-Up Bonus of GKFX

One of the incentives that GKFX Prime offers to attract new traders is a 100% Welcome Deposit Booster. This bonus is not limited to any specific type of trader; both new and Introducing Broker (IB) clients can take advantage of it. Importantly, the bonus can go up to a substantial amount of $10,000, making it a lucrative option for those looking to start trading with additional capital.

Not just for new sign-ups, GKFX Prime also offers something for its existing clientele. A 50% Re-Deposit Booster is available for all current clients of the brokerage. Similar to the welcome bonus, this re-deposit bonus also has an upper limit of $10,000, ensuring that ongoing clients also have an opportunity to boost their trading funds.

Both the Welcome and Re-Deposit bonuses are designed to be straightforward and accessible. They are available to both retail and IB clients, making the offers versatile. Moreover, these bonuses are not indefinite; they come with a validity period of two months. This time frame gives traders a specific window to maximize the additional capital.

Minimum Deposit of GKFX

A vital aspect to consider when selecting a broker is the minimum deposit requirement. GKFX Prime stands out for its flexible approach in this area. For most account types, the broker imposes no minimum deposit, making it easier for traders with various budgets to start trading.

However, there is an exception to this rule. For those interested in the VIP Variable Account, a minimum deposit of $5,000 USD is mandatory. This requirement targets more experienced traders who are willing to invest a significant amount for premium features and services.

GKFX Account Types

When it comes to accommodating different trading needs, GKFX Prime offers a variety of account types. Our team of experts at Dumb Little Man has tested these accounts and verified the following information through thorough research:

  • Standard Fixed: This account is ideal for beginners. It provides quick access to top markets, low pricing, and fixed spreads for popular CFDs. Additionally, there are no commissions or extra fees.
  • Standard Variable: Also aimed at beginners, this account offers variable spreads, quick market access, and low pricing for CFDs. Like the Standard Fixed account, there are no additional fees or commissions.
  • VIP Variable: Targeted at high-net-worth individuals, this account offers competitive pricing and access to premium tools and charts. Special features include free access to VPS. Note that a minimum deposit of $5,000 USD is required for this account.
  • ECN Zero: This account is specifically designed for currency trading. It offers extremely low spreads, as low as 0.0 on major currency pairs. A $10 commission per round lot is applicable.

Each account type is tailored to meet specific trading needs and preferences, making GKFX Prime a versatile choice for traders at all levels.

GKFX Customer Reviews

Customer reviews of GKFX Prime offer a mixed bag of opinions. Many traders appreciate the platform for its fast deposit and withdrawal processes, as well as its supportive customer service. Some even commended the additional tools like Traders Central and Autochartist that are provided for free. 

However, there are criticisms as well. The most common issue mentioned is the relatively high spread in standard accounts. Additionally, some users have raised concerns about profit removal, citing it as a warning sign of possible unethical practices. Therefore, while many find the platform reliable for trading, there are aspects that potential users should be cautious about.

GKFX Fees, Spreads, and Commissions

When it comes to fees, spreads, and commissions, GKFX Prime aims to be competitive. The broker offers tight spreads across all markets, providing traders flexibility with the choice between fixed and variable spreads. For instance, the typical spread for trading the EUR/USD currency pair is as low as 1.2 pips.

Another key feature is the absence of commissions for most account types, except for the ECN Zero account. This makes the broker’s pricing model highly competitive, offering an economical trading experience across various instruments.

Deposit and Withdrawal

We at Dumb Little Man tested GKFX Prime’s deposit and withdrawal features and found them to be highly user-friendly. The broker does not charge internal fees for either deposits or withdrawals. This adds an extra layer of convenience, allowing traders to manage their finances more efficiently.

The broker also offers a variety of withdrawal methods, including Bank Wire, VISA, MasterCard, American Express, FasaPay, Jeton, Maestro, Neteller, SOFORT, UnionPay, and WebMoney. However, it’s advisable to double-check the availability of these methods in accordance with the broker’s specific regulations. This ensures that traders can effortlessly access their funds when they wish to.

How to Open a GKFX Account

  1. Visit the GKFX website and locate the Open Account page.
  2. Fill in the mandatory personal information like name, email, and phone number.
  3. Upload required documentation for identity and residence verification.
  4. Wait for the broker to verify your data.
  5. Receive an account activation notification.
  6. Deposit funds into your new account.
  7. Choose your preferred trading platform.
  8. Start trading by selecting your preferred instruments.
  9. Review and adjust account settings as needed for an optimized trading experience.

GKFX Affiliate Program

Based on the experience of Dumb Little Man, GKFX Prime places a strong emphasis on customer support as a crucial part of the trading experience. The support team is available 24/5, and well-equipped to address any queries or concerns traders may have.

Customer support can be reached through email and phone and offers services in 10 different languages. This multilingual approach highlights GKFX Prime’s dedication to effectively serving its diverse, global clientele, ensuring that language is not a barrier to resolving issues.

In addition to its reactive support, the broker offers proactive assistance through a detailed FAQ section on its website. This section covers a broad spectrum of topics, from account opening to deposit and withdrawal processes, aiming to provide users with a seamless trading experience.

GKFX Customer Support

Based on the experience of Dumb Little Man, GKFX Prime places a strong emphasis on customer support as a crucial part of the trading experience. The support team is available 24/5, and well-equipped to address any queries or concerns traders may have.

Customer support can be reached through email and phone and offers services in 10 different languages. This multilingual approach highlights GKFX Prime’s dedication to effectively serving its diverse, global clientele, ensuring that language is not a barrier to resolving issues.

In addition to its reactive support, the broker offers proactive assistance through a detailed FAQ section on its website. This section covers a broad spectrum of topics, from account opening to deposit and withdrawal processes, aiming to provide users with a seamless trading experience.

Advantages and Disadvantages of GKFX Customer Support

AdvantagesDisadvantages
Prompt responses from the support team

Informative and helpful support representatives

Multilingual support for global clients
Not available 24/7

GKFX vs Other Brokers

#1. GKFX vs AvaTrade

AvaTrade is a seasoned broker with a global presence and a large array of financial instruments. It is highly regulated and caters to a massive clientele. GKFX, on the other hand, offers competitive spreads and various account types. 

Verdict: AvaTrade is better for traders looking for a highly regulated platform with an extensive range of financial instruments.

#2. GKFX vs RoboForex

RoboForex stands out for its wide selection of trading platforms and options, making it versatile for different trading styles. GKFX offers fixed and variable spreads but lacks the platform variety offered by RoboForex. 

Verdict: RoboForex is preferable for those seeking a wide variety of trading platforms and asset classes.

#3. GKFX vs FXChoice

FXChoice is targeted more towards experienced traders and offers a limited 90-day demo account. It doesn’t cater to beginners. GKFX offers accounts suitable for both beginners and experienced traders, along with attractive sign-up bonuses.

Verdict: GKFX is the better option for a broader range of traders, especially those who are new to the trading scene.

Choose Asia Forex Mentor for Your Forex Trading Success

Endorsed by the trading experts at Dumb Little Man, Asia Forex Mentor stands out as a premier choice for succeeding in forex, stock, and crypto markets. Founded by Ezekiel Chew, a seasoned expert with a record of seven-figure trades, the platform’s educational content is both reliable and impactful.

A key advantage is the Comprehensive Curriculum. It doesn’t just cover the basics; it provides a deep understanding of forex, stock, and crypto trading, equipping learners to excel across various financial landscapes.

The platform also boasts a Proven Track Record. Asia Forex Mentor has consistently turned novices into professionals who generate steady profits, showcasing the effectiveness of their training and mentorship.

With Ezekiel as the Expert Mentor, students receive targeted guidance. This personalized approach demystifies the intricacies of various trading markets. The learning experience is further enriched by a Supportive Community, which facilitates peer learning and collaboration.

Another focus area is Discipline and Psychology. The platform offers specialized training to help you manage stress and make balanced trading decisions, essential traits for long-term success.

The Constant Updates and Resources ensure that you remain updated in the ever-evolving financial markets. Numerous Success Stories validate the program’s efficacy, with some students even achieving financial freedom.

In conclusion, Asia Forex Mentor offers a well-rounded, effective trading education. With a diverse curriculum, expert mentorship, and an encouraging community, it provides all the necessary tools for trading success.

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Conclusion: GKFX Review

Based on the analysis by our team of trading experts at Dumb Little Man, GKFX presents a range of attractive features. The broker offers competitive spreads and a variety of account types, catering to both novice and seasoned traders. These features make it a strong contender in the trading landscape.

However, it’s essential to consider the downsides. While their customer support is generally good, it’s not available 24/7. This limitation could be a potential drawback for traders operating in different time zones.

In summary, GKFX provides a robust trading platform with plenty of upsides. However, be aware of the few limitations before diving in. The broker serves as a solid choice for many, but make sure it aligns with your specific needs.

>> Also Read: Skilling Review 2024 with Rankings By Dumb Little Man

GKFX Review FAQs

What is the minimum deposit for a GKFX account?

There is no minimum deposit for most GKFX accounts. However, the VIP Variable Account requires a minimum deposit of $5,000 USD.

Is GKFX customer support available 24/7?

No, customer support is available 24/5. Make sure to plan your trading activities accordingly.

Does GKFX offer a demo account?

Yes, GKFX offers a demo account. This is a great feature for traders who want to get a feel for the platform before committing to real funds.

Dumb Little Man Recommends – Top 3 Best Forex Brokers in 2024

Wilbert S

Wilbert is an avid researcher and is deeply passionate about finance and health. When he's not working, he writes research and review articles by doing a thorough analysis on the products based on personal experience, user reviews and feedbacks from forums, quora, reddit, trustpilot amongst others.

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