GKFX Broker Review 2018: Find Out About GKFX Spread Betting Broker

Last updated & tested: 23.10.2018

Spread betting is a type of short-term trading that traders will grab profits from predicting and taking a bet on a financial asset’s price movement. This splendid kind of trading is really suitable for those who always look to time changes to make money. In order to participate in spread betting, the very first step for traders is to find a trusted spread betting broker that they can trade at in the long-term. GKFX, one of the most reliable brokers headquartered in the United Kingdom, is committed to providing a professional and secure spread betting environment.

Highlights
  • Spread betting is a splendid type of trading for short-term traders.
  • Choosing a good broker is a must before involving in Spread betting.
  • GKFX is one of the most reliable brokers in this field.
  • GKFX brings a professional and secure spread betting environment.
5.
of 9 Spread Betting Broker
GKFX
GKFX Experience
Trader Rating
Go to GKFX opinions
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
Headquarters and regulation

UK (FCA)

Fees and Spread

Spread only

Lever

up to 1:30

Mini contracts tradable

No

Trading platform

MT4, Broker-owned Software

Mobile Trading & Apps

Demo account

Yes, available for 30 days

Underlying assets

273

Minimum deposit

£ 20

Services & additional benefits

Live
Hotline
E-mail
Economic Calendar
E-Book
Videos
Courses/Seminars

1. Trading Offer

1) Spread Betting Offer: A Wide Range of Financial Assets

This GKFX review finds out that there are over 350 underlying assets that can be traded both online and by phone at this broker. GKFX broker offers 53 forex pairs, including major, minor, exotic and cryptocurrency pairs: EUR/USD, AUD/NZD, AUD/USD, USD/ZAR, USD/SGD, GBP/CHF, USD/CAD, USD/JPY, GBP/USD, EUR/RUB, BTC/USD, ETH/USD, AUD/CAD, and many others. Meanwhile, the number of stocks here is more than 300, including UK, US, German and Japanese Shares such as Rolls-Royce Group PLC, Nestle, Admiral Group PLC, United Technologies Corporation, DuPont, Walmart Stores Inc., Old Mutual PLC, Sainsbury’s, Adidas, McDonald’s Corporation, Experian PLC, Zürich Financial Services, Mercedes Benz, CVS, L’Oreal, MasterCard, Glencore PLC, Prudential PLC … GKFX also offers lots of commodities such as Gold, Silver, Brent Crude Oil, WTI Crude Oil, Copper … and popular indices such as DOW, FTSE 100, ESX50, WIG, DAX 30, AUS 200, JPN225, S&P 500, NAS 100, CAC40 …
This is definitely one of the leading brokers that offer traders numerous tradable assets. It means, opportunities are always available when trading at GKFX.

13
Indices
Number
10
Raw materials
Number
250
Stocks
Number
Trader Rating
GKFXreview_summary_group_1_image
  • Over 350 tradable assets.
  • 53 forex pairs, including lots of major, minor, exotic, and cryptocurrency pairs.
  • More than 300 stocks to choose from.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
2. Costs

2) Spread Betting Costs: Spreads, Commissions, Fees, and Leverage

GKFX broker totally charges no commissions on any products; however, overnight charges may be applied to some financial assets. All overnight charges will be stated clearly in the trader’s daily/monthly statements.

GKFX requires a minimum deposit of at least GBP20 to open a spread betting account. It also charges no fees on deposits and withdrawals. Nevertheless, there may be fees charged by the third parties, depending on the transaction methods used. If a withdrawal is made via Wire Transfer, the trader may have to pay a flat fee of USD 25 to USD 30. A transaction via Credit cards or Skrill, meanwhile, may cost a fee of 2% to 3.5%.

1:30
Max Lever
0.9
FTSE spread
£ 20
Minimum deposit
yes
Mini contracts
Tradable

Spreads at GKFX depend on the types of accounts and trading assets. For currency pairs, spreads start from 0.6 pips. For commodities, this broker takes as low as 0.5 PTS. The higher-level the type of account is, the tighter the spreads are.

Leverage at GKFX starts at 1:2, while the maximum leverage is 1:30. However, traders should note that higher leverage means higher risk, therefore, they should choose an appropriate leverage from the start to avoid suffering unexpected losses.

Trader Rating
GKFXreview_summary_group_2_image
  • No commissions charged on any products.
  • No fees charged on deposits and withdrawals.
  • Spreads depend on the types of accounts and trading assets, starting from 0.6 pips.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
3. Account

3) Accounts: Spread Betting Fixed

GKFX offers 5 account types that are designed to satisfy traders’ needs. However, for spread betting, there is only one type of account: Spread Betting Fixed. Spreads of these accounts start from 0.6 pips. Maximum trade size is 100, while minimum trade size is just 0.10. Its leverage is up to 1:30. Base Currency is GBP. Spread Betting Fixed traders can trade on MT4 trading platforms. There are 53 currency pairs, 10 commodities, 13 indices and +250 shares that can be traded. The stop-out level is 10%.

The other four types of accounts at GKFX include:

  • Fixed: Spreads of these accounts are fixed and start from 0.6 pips. Leverage is up to 1:30. Available trading platforms include MT4 and Webtrader. The Stop-out level is 10%.
  • Variable: Variable account holders will have spreads start from 1.0 pip. Leverage, stop-out level, and available trading platforms are the same as the Fixed account type’s platforms.
  • VIP: Leverage of VIP accounts is variable with the stop-out level at 20%. A minimum deposit of $25,000 is required to open a VIP account.
  • Corporate: these accounts are for those looking for professionals to manage their funds. Spreads here are as low as 0.3 pips. Leverage is variable. The Stop-out level is 10-20%.
Trader Rating
GKFXreview_summary_group_3_image
  • There is only one spread betting account type: Spread Betting Fixed.
  • MT4 trading platforms.
  • Spreads start from 0.6 pips.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
4. Platform

4) Spread Betting Platforms and Mobile Trading: Metatrader 4

GKFX broker provides traders with lots of trading platforms that can be used on PCs and mobile devices, including MT4, WebTrader, Sirix, and TradAir. However, spread betting traders can use MT4 platforms only. There are two versions of MT4: Desktop and Mobile, allowing traders to enter the market at anytime and from anywhere.

Metatrader4 is a very prevalent trading platform that is too familiar with any financial traders. There are lots of assets that can be traded on MT4, including forex pairs, CFDs, digital currencies, indices, stocks, and precious metals. This platform is currently available in 30 languages.

MT4
metatrader
MT5
metatrader
IOS
Android
Broker owned Software

Expert Advisors (EAs) can be applied here for trade automation, and GKFX totally has no restrictions on EAs.

What makes GKFX’s MT4 platforms preferable is that they have excellent trading conditions: easy-to-use, containing various technical indicators, executing order fast … Charts can be observed in various time frames and through multiple types.

Traders who love to trade on their phones can use GKFX’s MT4 Mobile Platform, which is compatible with iOS and Android devices. This makes trading at GKFX easier and more convenient.

Trader Rating
GKFXreview_summary_group_4_image
  • Two trading platforms for Spread Betting traders – MT4 Desktop and Mobile.
  • MT4 is a comprehensive and innovative platform.
  • GKFX has no restrictions on EAs.
  • Trading can be involved on Mobile devices.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
5. Usability

5) Usability of the Website: A Professional Design

GKFX’s main website for spread betting participants is available in 7 languages: English, Arabic, Slovak, Italian, German, Czech, and Spanish.

The website’s interface is eye-catching and designed very professionally with its products and information easily to be found. The details about main products that GKFX offers, including Cryptocurrency, Spread Betting, FX, equities, indices, and commodities can be found in the “Trading & Products” tab at the top left-hand corner of the homepage. Information about GKFX’s platforms, education, research and tools, payment methods and company profile can also be quickly found out.

GKFX’s platforms with their features are introduced on the homepage, allowing traders to easily consider what system is the most suitable for them. This broker also offers the Autochartist web portal which brings automatic intra-day alerts in real time along with lots of user-friendly technical analysis tools.

Trading with GKFX’s MT4 platforms is also easy, with back testing, social trading, expert advisor and a series of custom indicators available. Colors of charts, indicators, and candles can be changed discretionarily.

Trader Rating
GKFXreview_summary_group_5_image
  • Multilingual website with support for 7 languages.
  • The website’s interface is designed very professionally.
  • Necessary information can be found easily.
  • GKFX’s platforms with their features are introduced clearly on the homepage.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
6. Support

6) Customer Support: Highly Professional and Dedicated

GKFX’s customer care service is highly professional and dedicated. Specialists can be reached through email, live chat, and free-phone/toll-free numbers in 7 languages. This GKFX review found out that the most convenient way to get questions answered is via Live Chat, which can easily be seen on the left side of the homepage. Once clients have filled necessary information, a representative will be available after seconds and helps them solve problems and questions. If clients prefer to communicating via telephone, there will quickly be a specialist contacting them directly.

E-Mail
Telephone
Live-Chat
On the spot

Support through social media sites such as Google Plus, Facebook, LinkedIn, and Twitter is also available, making reach out much easier. Customer care is available 24 hours on 5 business days.

GKFX’s Help Centre, in fact, has given customers the most complete answers. The Frequently Asked Questions (FAQ) at GKFX is separated into 6 portions: General, Technical, Trading, Account, Research Tools, and Orders, enabling clients to quickly find the relevant answers for their questions. They can also use the FAQ Search to find what they need faster.

Trader Rating
GKFXreview_summary_group_6_image
  • Specialists can be reached through email, live chat, and free-phone/toll-free numbers.
  • Support through social media sites is also available.
  • Clients can also get questions answered by searching in GKFX’s Help Centre.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
7. Payment

7) Methods of Payment: A Variety of Transaction Methods

Deposits to GKFX can be done using various online payment methods, including Bank Transfer, Credit/Debit Card, and popular e-wallets such as Skrill, Neteller, and Sofort. Neteller and Skrill are electronic wallet services remaining under FCA e-money regulation, while Sofort is a real-time transaction method working on the basis of online banking. Deposits made via these e-wallets usually appear in clients’ accounts within seconds.

  • banktransfer
  • creditcard
  • paypal
  • neteller
  • skrill

GKFX totally charges no fees on deposits and withdrawals for any types of accounts.

Minimum deposit amount that spread betting traders have to make is GBP20. Meanwhile, minimum withdrawal amount is GBP50. For UK traders, making payments via e-wallets is the best as deposits will be processed instantly, while transaction time for withdrawals is just from 1 to 3 business days. Withdrawals are made in the same manner as deposits. Completing identity verification is a must before making withdrawals. GKFX requires all clients to verify their identity before they are able to make withdrawals.

Trader Rating
GKFXreview_summary_group_7_image
  • Funding to GKFX can be done via a variety of modern payment methods.
  • GKFX doesn’t charge any fees on deposits and withdrawals for any types of accounts.
  • Minimum deposit is GBP20. Minimum withdrawal is GBP50.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
8. Offers

8) Additional Offers: Up-to-date Alerts and a Warehouse of Rich Educational Materials

Besides main analytical tools, supportive trading tools like economic news and alerts are also important. Understanding this, GKFX focuses on providing their clients with up-to-date economic events and automatic intra-day alerts through two platforms Trading Central and Autochartist. The fundamentals and technicals are updated second-by-second, allowing clients to always stay ahead of important market changes.

E-Mail
Economic calendar
E-Book
Videos
Courses or Seminars
Demo Account

In order to help their customers better in learning to trade, GKFX broker also offers plenty of rich educational materials, which can be found in the “Education” page. They include trading courses, webinars, videos, selective e-books, and tutorials. There is also a separate page explaining significant economic indicators in detail, which is profoundly useful to those looking to fundamental trading methods. Economic docket, market sentiment measurer, and weekly analysis are also included, contributing an important part in helping traders prepare better for their trading decisions.

Trader Rating
GKFXreview_summary_group_8_image
  • GKFX provides clients with up-to-date economic events and automatic intra-day alerts.
  • The fundamentals and technicals are updated second-by-second here. There is also a warehouse of rich educational materials for traders.
  • Trading courses, webinars, videos, glossaries of key trading terms, selective e-books, and tutorials at GKFX are at clients’ disposal.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
9. Regulation

9) Regulation & Deposit Protection: Trading at GKFX is Totally Safe and Secure

This broker is fully regulated by Financial Conduct Authority (Registration number: 501320), a financial regulatory body in the UK. Hence, clients’ funds at GKFX are entirely safe and secure since all the risks are guaranteed in accordance with the current laws.

Besides the FCA, this review also found some co-regulators of GKFX, including Bafin, CNB, Národná Banka, and CNMV. Bafin is the regulator of the GKFX Financial Services Ltd. Frankfurt Branch. CNB is the supervisor of the Czech financial market. Národná Banka Slovenska is the Slovak Republic’s central bank. Finally, CNMV is the Spanish government agency in charge of supervising the securities markets in Spain. With such a lot of regulators, international traders can be assured of trading at this broker.

FCA
Regulatory Authority
MIFID II
Yes
50000
Dep. Protection

As stipulated by the FCA rules, client funds at GKFX are held in segregated accounts with the world’s most reliable banks. More safely, if this broker has financial difficulties, retail customers can request a compensation of up to £50,000 with Financial Services Compensation Scheme (FSCS). GKFX also remains under MiFID, a European Union law providing regulation for investment services across the countries in Euro-zone.

Trader Rating
GKFXreview_summary_group_9_image
  • GKFX is regulated by Financial Conduct Authority (FCA).
  • Other regulators are Bafin, CNB, Národná Banka, and CNMV.
  • Traders can claim up to £50,000 compensation in case GKFX has any financial difficulties.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
10. Awards

10) Awards: An Award-winning Broker

Over the last eight years, GKFX has won plenty of prestigious awards from multiple organizations. Some of the most prominent awards include:

  • Best Forex Platform of 2017 (at the ADVFN International Financial Awards 2017).
  • Best Customer Service & Best Mobile/Tablet Trading App (UK Forex Awards 2016), voted by the private investment community and Forex traders.
  • Finalist Best FX Broker (at The Shares Awards 2015), appraised by the general public.
  • Best FX Pricing at the Stay Connected FX Awards (2015).
  • Broker-Wahl, from 2013 to 2015: this broker had been awarded Forex Broker Of The Year in three consecutive years. 2015 marked a highly successful year for GKFX since the broker anew outperformed strong competitors.
  • Best CFD Broker 2015, with around 10,000 visitors using the platform every month.
  • Top Grade Price-Performance Ratio & Client Support: GKFX was rated 5/5 stars in an online survey among customers of CFD brokers, conducted by The German Customers Institute (DKI).

This broker also has some other reputable awards such as Best Chinese Forex Broker, Most Popular CFD-Broker, Winner Best Forex Promotion 2013 …

Trader Rating
GKFXreview_summary_group_10_image
  • GKFX is an award-winning broker.
  • Best Forex Platform in 2017.
  • Forex Broker Of The Year in three consecutive years.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.

Conclusion – An ideal place for spread betting

GKFX has shown itself to be an ideal place for spread betting traders with a friendly, professional, and secure trading environment. GKFX’s clients can trade a wide range of financial assets, including forex pairs, commodities, equities, and indices. This broker totally charges no commissions on any products, and no fees on deposits/withdrawals.

Spread Betting service is only available for UK traders. Spread Betting traders can only open Fixed accounts, with leverage up to 1:30and a 10% stop-out level. The trading platforms available for Spread Betting traders are MT4 Desktop and Mobile. Funding can be done via various modern payment methods.
GKFX’s website is designed very professionally with needed information easily to be found. This broker’s customer support team working 24/5 is multilingual and always satisfies clients with professional communication, transparency, and integrity.

Trading at GKFX is totally safe and secure since it’s fully regulated by FCA and many other famous regulators. Client funds at GKFX are held in separate bank accounts. In case of company bankruptcy, clients can claim up to £50,000 compensation. This broker has won many prestigious awards from many organizations around the world.

Visit out broker comparison page to see the best Spread Betting brokers.

Strengths

  • a wide range of financial assets
  • charges no commissions on any products
  • no fees on deposits/withdrawals
  • Funding can be done via various modern payment methods.
  • fully regulated by FCA

Weaknesses

  • Only for UK traders
  • There is only one type of account: Spread Betting Fixed
Test result
Total

Ratings
0
Broker
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
GKFX
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.

Become part of the Asktraders Community and share your experiences!

Your Rating
Your opinion

Currently, there are no reviews.