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Trade Forex Review: GKFX – Your Gateway to Forex and CFD Trading
Introduction to GKFX
GKFX, operating under the brand name AKFX Financial Services Ltd., has been a prominent player in the financial markets since its founding in 2010. In 2018, it joined forces with the Global Kapital Group, further solidifying its position in the industry. This review delves into the key aspects of GKFX, including its regulation, account types, trading platforms, available instruments, and more.
Regulation and Geographic Restrictions
GKFX operates as a regulated Forex and CFD broker, providing clients with a sense of security in their trading endeavors. It consists of five distinct entities, each regulated in its respective jurisdiction:
- GKFX UK: Regulated by the Financial Conduct Authority (FCA) in the United Kingdom.
- GKFX DE: Regulated by BaFin in Germany.
- GKFX ES: Regulated by CNMV in Spain.
- GKFX MT: Regulated by MFSA in Malta.
- GKFX BVI: Regulated by BVIFSC in the British Virgin Islands.
GKFX ensures the segregation of customer funds from the company’s capital, complying with MiFID II and local regulatory authorities’ regulations. European traders are also granted insurance coverage for their funds, with protection of up to 20,000 euros in the event of the company’s bankruptcy.
Awards and Recognitions
Over the years, GKFX has amassed a collection of prestigious awards, reflecting its commitment to excellence in the industry. Some noteworthy accolades include the “Best Trading Education” award in 2018 from the Shares Awards and the “Best Customer Service in the Forex Market” award in 2016 from the UK Forex Awards.
Leverage and Trading Conditions
While European brokerage firms are subject to trading restrictions imposed by ESMA, GKFX BVI offers more flexible trading conditions. In the EU, leverage is capped at 1:30 for major currency pairs. In contrast, GKFX BVI provides a maximum leverage of 1:1000, catering to traders seeking higher leverage opportunities.
Account Types
GKFX offers two distinct types of trading accounts to accommodate the diverse needs of traders:
- Standard Account: Designed for novice traders with a minimum deposit requirement of 200 euros. This account features an average spread of 0.6 points without any commission.
- Premium Account: Geared towards experienced traders, the Premium account necessitates a minimum deposit of 25,000 euros. It boasts a tight spread of 0.1 points and charges a commission of 6 euros per lot.
It’s important to note that account conditions may vary depending on the specific jurisdiction you choose when opening your account with GKFX.
Trading Platforms
GKFX provides access to two of the most popular trading platforms in the industry: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are available for download, through web browsers, and on mobile devices, ensuring flexibility and convenience for traders.
Available Instruments
GKFX offers an extensive array of trading instruments, including:
- Over 40 currency pairs
- Popular cryptocurrencies
- CFDs on more than 300 stocks
- Major stock indices
- Precious metals
- Commodities such as oil, coffee, and cocoa
This diverse range of assets allows traders to create diversified portfolios that suit their preferences and strategies.
Minimum Deposit
The minimum deposit requirement for opening an account with GKFX is 200 euros. Funding your account is made easy through options like bank transfers, payment cards, and popular e-wallet services like Skrill and Neteller.
Conclusion
GKFX stands out as a regulated and reputable broker with a history dating back to 2010. With offices in the UK, Germany, Spain, Malta, and the British Virgin Islands, it offers a comprehensive suite of services to traders. This includes VPS, educational resources, e-books, webinars, and round-the-clock technical support, ensuring traders have everything they need for a comfortable trading experience.
Before making your decision, we recommend reading reviews of GKFX and consulting our rating of Forex brokers to make an informed choice.
General Information about GKFX:
- Broker’s Name: GKFX
- Year of Foundation: 2010
- Headquarters: Great Britain
- Regulation: FCA, BaFin, CNMV, MFSA, BVIFSC
- Trading Platforms: MT4, MT5
- EURUSD Spread: 0.6 pips
- Demo Account: Available
- Minimum Deposit: 200$
- Base Currencies: USD, GBP, EUR
- Maximum Leverage: 1:1000
- Assets: Currency pairs, metals, indices, stocks
- Deposit Replenishment: Bank Transfer, Visa/MasterCard, Skrill, Neteller
- Withdrawal Fee: N/A
- Payment for Inaction: N/A
- Islamic Accounts: Available
- Segregated Accounts: Yes
- PAMM Accounts: Not available
- Partner Account: Available
- Scalping: Allowed
- Automatic Trading: Supported
- Mobile Trading: Available
- Web Terminal: Available
- Social Trading: Not available
- Signals: Not available
- VPS: Available
- Deposit Bonuses: Not available
- Contests: Not available
- Support 24/5: Yes
Incorporating all these elements, GKFX emerges as a versatile and reliable option for both beginner and experienced traders in the Forex and CFD markets.
