AKFX Financial Services Limited is authorized and regulated by the Malta Financial Services Authority (“MFSA”) under a CRES license with registration C60473. AKFX Financial Services Limited provides its services outside Malta under the EU MiFID II Directive. The Autochartist web portal and plug-in that provides a range of technical analysis top 10 most traded currencies worldwide tools, automatic intra-day alerts, and reports showing key price levels and the formation of influential chart patterns. These prevent brokers from directly or indirectly provide the retail client with certain benefits in relation to the marketing, distribution, or sale of a CFD, other than the realized profits on any CFD provided.
GKFX offers video tutorials and articles, broken down into beginner, trader and expert categories. A good start has been made in the area of education, but the depth of materials is thin compared to the industry average. In the table below, we cover the key features of the 3 different account types. An index is a basket of trading instruments that is used to gauge a market sector, stocks within an exchange or the economy of a country. The MetaTrader Web Platform is a slightly stripped down version of the desktop platform. It allows you to trade without any additional software, only an internet connection is required.
This is a responsible move in an industry often accused of an irresponsible approach to consumer protection. As with currency exchange markets, commodity markets offer different investment opportunities for traders. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of inflation or economic uncertainty. The broker also offers AutoChartist which is a powerful and user-friendly technical market analysis tool. It offers traders automated market scanning and real-time alerts to notify them about trade opportunities. CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument.
When you are ready to place a trade, there are handy instant buy and sell buttons to open positions directly from real-time charts. This makes it quick and easy to trade online with minimal fuss. GKFX offers over 600 assets across five classes and continues to grow this base.
For each, the broker has set rules like the accepted currencies, transfer limits, transaction time, and transfer costs. This type of trading account can be used by both novices and experienced traders and it is free. Now I am passionate about reviewing and comparing forex brokers. Account opening, deposits, and withdrawals are also smooth and fast on the broker. Our experience with customer support was again excellent as the responses were fast, clear, and detailed. The retail account types offered by GKFX vary with each regulated entity.
The User Agreement document is available in the Legal Documents section. An About Us page provides an overview of the company and its history. GKFX scored well in the area of research, as the broker has good research materials which may be appealing to beginners. With competitive spreads and no inactivity charge GKFX also did better than average in the category of fees. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits.
The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move. The first requires the completion of an online registration form with all your personal details. Next, swing trading indicators you need to give some financial information as well as what your knowledge and experience entail. Provides signals based on components including price lines, indicators and oscillators. Weekly videos from GKFX are presented by Rich, their in-house analyst.
The support team of GKFX is available from Sunday 10 pm through Friday 10 pm and can be reached via phone, e-mail or message directly from their website. A live chat function is listed, but it was not available during standard business hours which is when this review was conducted. At a well-functioning brokerage, clients rarely obtain the need to contact customer support and it appears that at GKFX it will be equally unlikely. We review all brokers to astrict and unique methodology, to ensure that we only promote high quality brands that you can trust.
GKFX Prime offers a daily selection of major news and articles that explain the current market sentiment. These articles are curated by the GKFX Prime in-house research team, and although the articles are brief, the information is relevant and insightful. GKFX provides a comprehensive and well-structured selection of educational materials.
GKFX Primes Account Types
Let other traders know if this service is worth checking or should be avoided. The netizen I met on the Internet said he wanted to make money with me. The first time I got the money, but the second time it didn’t allow withdraw.
The MT4 platform is very popular, used by millions of forex and CFD traders worldwide. It is known for its speed, intuitive interface and comes with professional features to suit the needs of a wide variety of traders. The MT4 platform supports over 35 languages and it is available on web, desktop and mobile.
The ICS safeguards traders against financial failure or insolvency cases and provides up to 20,000 EUR per trader should the company be liquidated. GKFX Prime offers a fair trading environment for all types of traders. GKFX Prime warns all potential traders that Forex and CFDs trading always carries a high level of risk and may not be suitable for all investors. Forex broker services are also provided for institutional clients and large companies such as investment banks. On the website, traders have access to educational videos, an economic glossary, and e-Books.
Forex brokers tend to lure new traders with offers of attractive deposit bonuses. This can be useful, but it is essential to discern what a proper bonus is. Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size of the position, and the leverage applied to your trading account. GKFX Prime offers a range of account types, all of which are designed to allow customers to trade according to their individual needs. GKFX is a Forex and CFD global online trading broker providing services to both private and institutional clients.
GKFX Spread Charged in Our Trades
However, we rated the depth of instruments under forex, commodities and stocks as medium because industry leaders offer a larger variety. To conclude, the MetaTrader 4 desktop platform is one of the most feature-rich and popular trading platforms in the world. It does not have the most beautiful interface and it does require some time and effort to learn, but that is typical of advanced platforms. GKFX offers relatively low trading and non-trading related fees. With competitive spreads in some popular trading instruments and the absence of an inactivity fee GKFX performed better than average in this category.
He said that if he couldn’t get the money, he would not do it for so long. I doubted it at first, but he kept giving me promise that he would not cheat me. If there was no money, they would keep asking you to borrow money to deposit. Deceived to deposit on a fake platform and required to pay the authentication fee for withdrawal. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information.
YOUR GLOBAL TRADING PARTNER
Accounts specialized to different trader profiles, low fees and a solid offering of research materials distinguish this broker. Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services. Cost and/or fees may be charged at the time of the initial purchase of the investment and such costs/fees may be deducted thus lowering the size of your investment and/or return. The performance figures quoted refer to the past and past performances is not a guarantee of or a reliable guide to future performance.
So be careful when you make friends online, and don’t trust people you haven’t met. For card payments there is a minimum deposit of 20 GBP/EUR/USD, while Bank Transfer is set to a minimum of 50$. On the negative points proposal is different in each entity, there is no 24/7 support, spreads might be higher for some instruments.
When making this calculation, we use one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread. In a welcome show of transparency, GKFX Prime publishes its average spreads alongside each financial instrument for all of its account types. Potential traders need to do as much as possible research about speculative trading before commencing to do it and while trading. Trading successfully relies heavily on knowledge and understanding of the markets, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with. This website includes information about cryptocurrencies, contracts for difference and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money.
GKFX offers the MetaTrader platform across web, desktop and mobile. One of the most popular platforms in the world, MetaTrader offers robust charting, a broad range of order types and a range of advanced functions. Wouldn’t let me open an account because apparently ‘I’m not suited’ to their products..
This is because I would always prefer to trade online with a regulated broker is it gives me confidence that they can be trusted with my funds. Regulated brokers must comply with rules questrade forex review and procedures that have been put in place to protect investors interests. I was pleased to see that GKFX is authorized and regulated by the Malta Financial Services Authority .
Why Should You Choose GKFX Prime Accounts For Forex Trading?
AutoChartist relies on chart analysis as well as support and resistance levels to suggest emerging trends and options for trade. Once integrated into your platform, it will constantly provide full benefits of market analysis and keep you up to date about major economic developments. It provides analysis on both fundamental and technical insights on forex and other asset classes. With GKFX MT4 platform for mobile and tablet devices, you have access to all the standard functions of the industry’s most popular desktop trading platform whilst on the go. Forex brokers often lure new traders with offers of deposit bonuses. This can be useful, but it is essential to discern what the conditions are to really benefit from a bonus.
GKFX does publish an order execution policy, but the execution model was not mentioned. Discover a broker you can trust by reading our in-depth and honest reviews, created by industry experts. As a trading platform, GKFX has a plan in place to help out novice as well as established traders. The platform avails some learning materials like videos, economic glossaries, e-Books, webinars, and other tutorials related to online trading.
GKFX Prime offers trading in four cryptocurrencies as well as 262 share CFDs from the USA, Germany, France Netherland, and Spain. The trading of gold and other precious metals involves hard commodities that are contract-based tradable goods. The decision about which platform to choose will depend on what a client would like to trade, therefore it will be one of the criteria when choosing a broker too. A re-deposit bonus is also available for all new direct clients. In cryptocurrency, the term “trading pairs” describes trade between one type of cryptocurrency and another. Traders will receive three reports every day with an overview of popular markets, hot opportunities, and expected reactions to upcoming economic events.
These demo accounts are free to open and can be used by traders for a period of 30 days. It gives traders the opportunity to trade risk-free using the broker’s platforms and an account type. Prime and Prime Plus account types offer more competitive spreads than those in the Classic account.
GKFX offers tight spreads starting from 0.6 pips with zero commissions on the standard or corporate accounts. Execution-only brokers, which do not involve in personal investment advice and give traders complete control over how they trade the markets, usually charge lower commissions. A forex account is a trading account held by a trader with a company like GKFX, that is issued with the primary purpose of trading through its platforms.
Hundreds of millions have been invested in products and services created in the MT4 infrastructure which can transform it into a dominant trading platform. While the GK Group seems to be an interesting financial firm, this review will focus solely on GKFX which provides Forex and CFD trading in over 600 assets from the MT4 trading platform. While this broker serves clients from most countries, it appears that the explicit focus is Europe and Asia as judged by office locations of the GK Group.
Using a higher than necessary leverage can work against a trader as well as for him. It is always possible that you could sustain a loss of some or all of your initial investment. Messaging and alerts – Market Snapshot e-mails sent out three times a day provide an outlook of the markets for the next hours. Also, as a brand of London-based GKFX Financial Services Ltd., it is authorized and regulated by the Financial Conduct Authority , which means it is held to high ethical, security, and transparency standards. Ripple is popular among big banks with the Ripple network a next-generation real-time gross settlement system.
There are popular indices such as Dow Jones Index in U.S or DAX40 in Germany with deep liquidity. A simpler trade terminal… Focus on a specific market and control your trades directly from a small pop-up window. Set T/P, S/L and trailing stops in pips and get live price updates.
The account opening process is conducted online, the standard procedure with all brokers. GKFX has a five-step process that covers the basics, but new clients are required to submit a copy of their ID and proof of residency document as required by the regulator. It is refreshing to see a list of key documents to read listed on the account opening page. All things considered, this process should be completed in a matter of minutes without any complications.