Is GKFX scam or trustworthy broker? What are GKFX trading platorms and instruments? FinTech Events Center GKFX review intends to deliver an honest and unbiased 360 degree outlook on FCA UK authorized Forex and Spread betting provider – GKFX.
We have based our GKFX review on the following categories:
Regulation: GKFX regulation
Platform: Which trading platform does GKFX offer?
Customer care: GKFX customer care review
Services:Trading accounts, spread, trader feedback, deposit and withdrawal speed
GKFX Company overview
GKFX is a global online trading platform with an FCA license. With a strong regulation and sound team behind, GKFX is a reliable Forex broker in Global FX market.
GKFX clients can safely trade on indices, commodities, currencies, CFDs and cryptocurrency CFDs.
The company provides 24/5 customer support and multiple payment methods where clients can withdraw money instantly and can deposit with zero commission.
GKFX trading platform review
Like many other Forex and CFDs providers, GKFX offer the most used trading platform of the Forex industry – Metatrader 4 also known as MT4.
We tested GKFX trading platform for two months. During this test period, the platform operated ultra fast. Furthermore, the team behind GKFX acted responsibly. In every case, they replied back promptly.
Here is a brief GKFX trading platform review:
Fast news feed
Traditional MT4 technical analysis capability
Fast, reliable, comprehensive charting capabilities (But still lacking the professional charting in it – this is valid for every MT4 platform globally)
Multilingual trading experience
Dedicated client service while the markets are open
Monitor and manage open positions, equity and exposure online
Strong liquidity background
GKFX Account types
As a trader, you will have variety of options with GKFX account types. The broker offers a wide range of account types aiming to meet traders’ individual needs.
Here are some of the factors you should consider while choosing your GKFX account type:
Initial investment size
Trading frequency (How many trades will you trade per day)
GKFX provides its clients with multiple options of accounts with competitive spreads. All the account types provides the client with MT4 and Webtrader facility and no maximum open trade limit. The account types are classified as follows –
Fixed Spread Betting: This account has no minimum deposit limit and provides fixed spreads starting from 1.5. Clients can trade with minimum lot size of 0.1 and can trade more by using leverage up to 1:400.
Fixed and Variable CFD account: This account type is also quite same as the Fixed Spread account and has no minimum deposit limit but provides variable spreads starting from 1.2. Clients can trade with minimum lot size of 0.1 and can trade more by using leverage up to 1:400.
VIP Accounts: The account has minimum deposit limit of $25,000 where the variable spreads starts from 0.6. Minimum trading lot size is 1.0 lot and the leverage can be used up to 1:100.
Corporate Accounts: The account has minimum deposit limit of $25,000, variable spreads starting from 0.6 and minimum trading lot size is 1.0 lot as like VIP Accounts but the leverage provided in this account type is up to 1:400.
CryptoCurrency Trading Facility
CryptoCurrency is the world’s one of the most high volatile market, You can trade CryptoCurrency CFD’s in GKFX with competitive rates.
GKFX has a number of advantages to trade with. The advantages are provided as follows –
GKFX headquarter is in London and regulated with one of the most reputed regulatory body: FCA UK
24/5 Customer Support service to serve the customers whenever it is needed
No Hidden cost in trading other than the spreads
No minimum deposit amount required which makes it accessible for small capital based traders
Tier 1 Banks liquidity service
Multiple platform trading facility which lets the customer to trade from PC, Tablets and Mobiles
Trading support services like detailed Educational Materials, MT4 Booster, Trading Central and Free VPS.
As of FinTech Events Center’s review on GKFX we have found some disadvantages of GKFX.
Not accepting US clients to register and trade with GKFX, as the broker is not licensed to provide their services to US clients.
Not Allowing Scalping trading style
As per FinTech Events Center analysis, GKFX has been reviewed as of the most reliable financial broker to trade with. GKFX has been providing competitive spreads, varieties of accounts types and dedicated customer support. Having FCA UK regulation and conducting strong management in every process, GKFX can be concluded as a reliable broker to trade with.
As of 13.11.2017, GKFX forbids to trade scalping in their trading platform.
GKFX Complaint procedures
The following is the GKFX Complaint procedures extract from the company website:
GKFX Financial Services Ltd is authorised and regulated in the United Kingdom by the Financial Services Authority (FCA). GKFX is required to establish complaint-handling procedures for handling expressions of dissatisfaction received from eligible complainants about GKFX services.
GKFX endeavours to offer its customers the highest standards of service in all aspects of its business, however there may be elements of our service that do not meet your satisfaction. The Compliance Officer (or an independent director) will record any customer complaints or expressions of dissatisfaction in the firm’s Complaints Register.
In the first instance, you should try to resolve your dissatisfaction or grievance with your normal GKFX contact.
If that person is unable to resolve your dispute to your satisfaction, you should direct your complaint or grievance either verbally or in writing to GKFX’s Compliance Officer.
GKFX will send a written acknowledgement of your complaint to you within five business days of receipt. This letter will contain the name or job title of the individual(s) handling the complaint, together with a copy GKFX own internal complaint handling procedure.
Within four weeks of receiving a complaint, GKFX will send you, either:
A final response letter; or
A written response, explaining why it is not currently possible to resolve the complaint and indicating to you when the Firm will make further contact (this should be within eight weeks of receipt of your complaint).
If the complaint remains unresolved longer than eight weeks from receipt of your complaint, GKFX will either send you:
A final response; or
A written explanation why the firm is still unable to make a final response to you. It shall provide you with reasons for the delay and an indication when it expects to be able to provide you with a final response.
If you are dissatisfied with GKFX final response (or if GKFX fail to resolve your complaint within 8 weeks of it being made) you may have the right to refer it to the Financial Ombudsman Service, but you must do so within six months. Unless you have already received a copy of the Financial Ombudsman Service’s explanatory leaflet, it will be supplied to you at the same time as GKFX final response.
The Financial Ombudsman Service can be contacted at:
Financial Ombudsman Service Exchange Tower, Harbour Exchange Square London E14 9GE
There are 9 additional MT4 applications which is designed to boost the trading techniques and help to achieve the trading goals. The toolkit will be available to the clients who deposit more than $2500 in their trading account. The MT4 Booster includes the following facilities for the clients:
FREE VPS for 24/7 uninterrupted trading experience
Virtual Private Server is a reserved private area on a hardware server. The benefits of using the Free VPS provided by GKFX are:
Opportunity to become active 24/7 regardless of the internet connection
Faster Order processing
Run Automated Trading systems
Access from any PC
No Maintenance Cost
Pre-Installed Trading platform
Trading Central is a leading provider of real time investment research facility based on Technical Analysis from a consortium of investment banks and asset managers. It has MT4 version of the software which is easy to use and install in the MT4. The Key features of the Trading Central are:
Back Tested Indicators
Constant Coverage of the market
Integrated into your My FXBank
Coverage includes: Forex, S&P, DJI30, Nasdaq, Gold and Oil.