User Reviews
More
User comment
10
CommentsWrite a review
Score
United Kingdom
5-10 yearsSuspicious Regulatory License
Suspicious Overrun
High potential risk
Influence
Add brokers
Comparison
Quantity 104
Exposure
Score
Regulatory Index0.00
Business Index7.57
Risk Management Index0.00
Software Index4.00
License Index0.00
Single Core
1G
40G
More
Company Name
International Finance House Ltd
Company Abbreviation
GKFX Prime
Platform registered country and region
United Kingdom
Company website
X
YouTube
Company summary
Pyramid scheme complaint
Expose
GKFX Prime Review Summary in 10 Points | |
Founded | 2012 |
Headquarters | UK |
Regulation | FSC |
Market Instruments | Forex, Commodities, Indices, Stocks, Cryptocurrency |
Demo Account | Available |
Leverage | 1:400 |
EUR/USD Spread | 1.8 pips |
Trading Platforms | MT4, MT5 |
Minimum deposit | $0 |
Customer Support | 24/5 Live chat, phone, email |
GKFX Prime is an online forex and CFD broker that was established in 2012. The broker is based in the United Kingdom. GKFX Prime provides traders with a range of trading instruments, including forex, indices, commodities, and cryptocurrencies. They offer various account types and trading platforms, including the popular MetaTrader4 and MetaTrader5 platforms. GKFX Prime also provides educational resources and customer support in multiple languages.
GKFX Prime is a Straight Through Processing (STP) broker that offers clients direct access to interbank markets without the need for a dealing desk or human intervention. This means that trades are executed instantly and efficiently without any conflict of interest between the broker and the client.
GKFX Prime's main advantages are their competitive trading conditions, including tight spreads and low commissions, as well as their extensive range of trading instruments and educational resources.
However, their lack of regulatory oversight in major jurisdictions and too many complaints from users may be a concern for some traders.
Ultimately, it's important for traders to weigh these factors against their own priorities and preferences when choosing a broker.
Pros | Cons |
• Multiple account types and platforms | • No legitimate regulatory licenses |
• Tight spreads and low commissions | • No US clients allowed |
• No deposit or withdrawal fees | • Too many complaints |
• extensive range of trading instruments and educational resources |
Some alternative brokers to GKFX Prime include:
IC Markets: An Australian-based broker that offers ECN trading with tight spreads and low commissions. They also have a wide range of trading instruments and multiple trading platforms.
Admiral Markets: A European-based broker with a strong focus on education and research. They offer a variety of account types and trading platforms, as well as a wide range of trading instruments.
FxPro: A UK-based broker with over 15 years of experience in the industry. They offer a range of trading platforms and account types, including ECN trading with tight spreads.
Pepperstone: An Australian-based broker that offers low spreads, fast execution, and a variety of trading platforms. They also offer a range of educational resources for traders.
XM: A global broker that offers a wide range of trading instruments and multiple account types. They also offer a demo account for traders to practice trading strategies without risking real money.
It is important to thoroughly research and compare different brokers before choosing one that suits your trading needs and preferences.
As GKFX Prime is an unregulated broker, its reliability may be a concern for some traders. While the company has been operating for several years, the lack of regulatory oversight may make it less attractive to traders who prioritize safety and security. The worse is that there are too many complaints from their users.
Also, it's important to note that being unregulated doesn't necessarily mean that a broker is unreliable. However, it does mean that there is no external oversight of the broker's activities and no protection for clients in the event of financial difficulty or fraud. Clients should exercise caution when dealing with unregulated brokers and conduct thorough research before opening an account.
GKFX Prime offers 400+ financial instruments to trade, including forex, commodities, indices, stocks, and cryptocurrencies.
Forex: over 50 currency pairs, including major, minor, and exotic pairs.
Commodities: including gold, silver, oil, and natural gas.
Indices: over 20 global indices, including popular indices like the S&P 500, FTSE 100, and DAX 30.
Stocks: over 300 stocks from companies listed on exchanges in the US, UK, Germany, and France.
Cryptocurrency: including Bitcoin, Ethereum, and Litecoin.
Apart from free demo accounts, there is a large variety of live trading accounts available at GKFX Prime, and each one is tailored to the specific requirements of the clients.
A trader's risk appetite, the quantity of their initial investment, and the amount of free time they have daily to devote to trading the Forex market are all important considerations when deciding which account type will best suit their needs.
The account types include the following: Standard Fixed, Standard Variable, VIP Variable and ECN Zero. Additionally, Islamic accounts are available for clients who follow Sharia laws. There is no minimum deposit requirement for Standard Fixed, Standard Variable and ECN Zero accounts, while $5,000 for VIP Variable accounts.
To open a new forex trading account with GKFX Prime, you must first pass a simple “know your customer” test. Because of this, GKFX Prime can verify your identity, your account information, and the security of your cash.
Login information for the trading platform that is best suited to the type of account you opened will typically be emailed to you after the initial registration.
Step 1 – Register an account
Open your Live Trading Account.
Step 2 – Fill out the 5-page form
Supply personal detail, financial information, trade knowledge and experience, etc.
The maximum leverage offered by GKFX Prime is 1:400. However, the leverage available to you may vary depending on your location and the regulatory restrictions in place.
Different account types have different trading conditions. Specifically, Standard Fixed accounts have spread from 1.8 pips and no commissions; Standard Variable accounts have spread from 1.2 pips and no commissions; VIP Variable accounts have spread from 0.6 pips and no commissions; ECN Zero accounts have spread as low as 0.0 pips but have to pay a commission of 10/lot.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
GKFX Prime | 1.8 pips | No (except for ECN Zero account) |
IC Markets | 0.1 pips | $7 per standard lot |
Admiral Markets | 0.5 pips | No (except for Zero.MT4) |
FxPro | 1.4 pips | No |
Pepperstone | 0.16 pips | No (except for Razor account) |
XM | 0.8 pips | No |
Note: The above information is subject to change and may vary based on account types and market conditions.
GKFX Prime offers the MetaTrader4 (MT4) and MetaTrader5 (MT5) trading platforms, which are popular and widely used platforms among traders. They provide access to a range of tools and features, including advanced charting, technical analysis tools, automated trading capabilities, and the ability to customize and use third-party indicators and trading algorithms.
They are both available for desktop, web, and mobile devices, making it convenient for traders to access their accounts and trade from anywhere at any time. Additionally, GKFX Prime offers a VPS (Virtual Private Server) service to clients who require faster and more reliable connection to the MT4 and MT5 platforms.
Overall, GKFX Prime's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:
Broker | Trading Platforms |
GKFX Prime | MT4, MT5 |
IC Markets | MT4, MT5, cTrader |
Admiral Markets | MT4, MT5 |
FxPro | MT4, MT5, cTrader |
Pepperstone | MT4, MT5, cTrader |
XM | MT4, MT5, WebTrader |
While there is no minimum deposit requirement with GKFX Prime, we advise putting up at least five dollars so that you have more flexibility and a higher chance of building positions large enough to make a difference in the markets. The company offers quick deposit and withdrawal alternatives to GKFX Prime traders so that regular traders can have more faith in the platform and gain more market access.
Credit cards (Visa, MasterCard and Maestro), bank transfers and e-wallets such as Neteller and Skrill are all acceptable methods of payment, so long as the buyer has provided the necessary “know your customer” papers to comply with AML regulations. The most common of them is a photocopy of your passport and some form of the recent bill showing your current address.
Credit cards and bank transfers are both acceptable withdrawal methods. Transfers made with a credit card take three to five business days to process, while wire transfers can take anywhere from one to five days. Withdrawal is free of charge.
Please note that some deposit and withdrawal methods may not be available in certain regions/countries, and fees and processing times may vary depending on the chosen method.
GKFX Prime | Most other | |
Minimum Deposit | 0 | $100 |
To withdraw funds, clients need to log in to their account, go to the “Withdrawal” section, select the preferred withdrawal method, and follow the instructions provided. It's worth noting that GKFX Prime may require additional documentation for verification purposes before processing the withdrawal request.
GKFX Prime claims to offer a 100% welcome bonus and a 50% re-deposit bonus. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task.
Apart from commission fees on the ECN Zero account, there are no other fees charged.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
GKFX Prime | Free | Free | No |
IC Markets | Free | $0-$20 depending on method | AUD$10 per month after 6 months of inactivity |
Admiral Markets | Free | Free | €10 per month after 24 months of inactivity |
FxPro | Free | Free | $5 per month after 12 months of inactivity |
Pepperstone | Free | Free | AUD$15 per month after 12 months of inactivity |
XM | Free (may vary depending on method and country) | Free (may vary depending on method and country) | $5 per month after 90 days of inactivity |
Please note that these fees are subject to change and may vary depending on the country of residence and the payment method used.
GKFX Prime offers customer support in multiple languages through various channels including live chat, phone, and email. Their customer support is available 24/5, which means that traders can get assistance during the trading week. Additionally, GKFX Prime provides support through social media platforms such as Facebook, Twitter, LinkedIn, Instagram and YouTube.
The broker also provides an FAQ section and educational resources on its website to assist traders. Overall, GKFX Prime has a good reputation for customer support.
Pros | Cons |
• Multiple channels for customer support including email, phone, and live chat | • No 24/7 customer support available |
• Dedicated account manager for VIP clients | |
• Multilingual customer support | |
• Quick response time to customer inquiries | |
• Availability of customer support during market hours |
Note: These pros and cons are subjective and may vary depending on the individual's experience with GKFX Prime's customer service.
Those interested in opening an account with GKFX Prime should familiarize themselves thoroughly with the ins and outs of forex and commodity trading before placing any trades. If a trader needs more information than is available on the GKFX Prime website, they should look elsewhere.
GKFX Prime offers a range of educational resources for traders of all levels, including video tutorials, articles, ebooks, webinars, seminars.
Webinars: GKFX Prime provides free webinars to its clients, covering various trading topics, such as market analysis, risk management, and trading strategies.
Video tutorials: The broker offers a collection of video tutorials covering a range of trading topics, including technical analysis, trading psychology, and risk management.
Based on the information provided, GKFX Prime is an unregulated broker with a wide range of trading instruments and account types. While their trading conditions are relatively competitive, the lack of regulation raises concerns about the safety of client funds. Their customer support and educational resources are adequate but not exceptional. Overall, traders should approach GKFX Prime with caution and consider alternative brokers that are regulated and offer more comprehensive services.
Q 1: | Is GKFX Prime regulated? |
A 1: | Yes. It is regulated by FSC. |
Q 2: | At GKFX Prime, are there any regional restrictions for traders? |
A 2: | Yes. GKFX Prime does not provide services for the residents of certain countries, such as the United States of America, Canada, Japan, Indonesia, Turkey, Israel and the Islamic Republic of Iran. |
Q 3: | Does GKFX Prime offer demo accounts? |
A 3: | Yes. |
Q 4: | Does GKFX Prime offer the industry-standard MT4 & MT5? |
A 4: | Yes. Both MT4 and MT5 are available. |
Q 5: | What is the minimum deposit for GKFX Prime? |
A 5: | There is no minimum initial deposit requirement. |
Q 6: | Is GKFX Prime a good broker for beginners? |
A 6: | Yes. GKFX Prime is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
The first week of 2023 has already passed. However, the forex market still remains active. Let’s see what happened during the first week of the new year.
According to the report, many investors feel irritated by GKFX Prime. In this article, we will commit to exploring the truth behind this broker.
GKFX Financial Services Limited, Global Kapital Group's UK-based subsidiary, has released its financial results for the fiscal year 2021, which ended on December 31, 2018. Although the broker's yearly turnover from its trading company decreased, it dramatically reduced its losses.
Let's look at the quote below: “Why do we fall sir? So that we can learn to pick ourselves up.” – Alfred
More
User comment
10
CommentsWrite a review