GKFX Prime Broker Review

Is GKFX Prime Safe?

Founded in 2014 this broker has won awards and the respect of the trading community.  Regulated by the FCA (UK) is given permission to provide regulated products and services under this license.

Awards

Awards are easily awarded to the better brokers, and GKFX started winning awards the year after they started taking clients.

• Best Investment Trading platforms 2015 – AIAIR Awards
• Best Broker of Mena and Africa 2016 – 12^th Mena Forex Award
• Best Islamic Account Broker 2017 –  IHL
• Best Broker of Asia in 2017 – Balans DHL
• Best Forex Trading Platform 2017 – Bergen

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Account Types

Fixed spread and variable spread account types are offered to GKFX clients, with an optional swap-free option (detailed below).  GKFX offers three different standard account types to traders.

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While there are no minimum deposits on the first two standard accounts above, we always recommend a minimum $200 balance to clients in order to avoid stopping out easily.

Islamic Account

An optional swap-free or Islamic account option is available for all traders who request it.  There are some small differences that separate it from the standard account, but much of the details are the same.

There is no minimum deposit and leverage is still available up to 1:400, but the spreads start at 2.5 pips and a commission of 10 USD per lot per day is charged on all positions that are open for 5 consecutive nights.

The wider spreads are in place to make up for the revenue lost by the broker that would have otherwise have been made by charging interest for holding the positions overnight.

Bonuses

There are two promotions for new accounts in Malaysia. Clients can receive a $55 No deposit bonus and a 55% bonus on their initial deposit. Clients can also receive a $5 rebate on our refer-a-friend promotion.  To register to receive these bonuses, click here.

There are very few brokers who have a no deposit bonus in Malaysia, so this feature is something that should stand out to you if you are comparing brokers.

Trading Platforms

GKFX offers the MT4 trading platform on both mobile and desktop. Clients can also use MT4 Webtrader, which will run in a web browser. Additionally, clients can use Sirix Web Trader and Money managers can use the in-house MAM platform which has a really smooth user interface which is not usual for this kind of software.

GKFX will soon start offering clients the MT5 trading platform.

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Broker

Platform Choice

Copy Trading

Platforms

GKFX Prime

4.5/ 5

Yes

MT4

MT5

eToro

4/ 5

Yes

etoro

CM Trading

4/ 5

Yes

MT4

WebTrader

Deposit & Withdrawal

Payments are accepted via bank transfers, credit card, local banks, and E-wallet. As with all other regulated brokers, customers must provide KYC (know your customer) documents which are in line with anti-money laundering laws.  These documents usually consist of submitting a copy of your passport and a proof of address, such as a recent utility bill.

Withdrawal is by bank transfer & credit/debit card.  Band transfer takes anywhere from 1 to 5 business days, depending on the country, and 3 – 5 business days for credit card transfers.  There are no fees for withdrawing.

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She is the Senior Editor for FXScouts.  She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.