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.
- Over 350 underlying assets
- Regulated by Financial Conduct Authority
- One of most reliable brokers in this field
- Professional & secure spread betting
- 1. Spread Betting Offer: A Wide Range of Financial Assets
- 2. Spread Betting Costs: Spreads, Commissions, Fees, and Leverage
- 3. Accounts: Spread Betting Fixed
- 4. Spread Betting Platforms and Mobile Trading: Metatrader 4
- 5. Usability of the Website: A Professional Design
- 6. Customer Support: Highly Professional and Dedicated
- 7. Methods of Payment: A Variety of Transaction Methods
- 8. Additional Offers: Up-to-date Alerts and a Warehouse of Rich Educational Materials
- 9. Regulation & Deposit Protection: Trading at GKFX is Totally Safe and Secure
- 10. Awards: An Award-winning Broker
- 11. Conclusion – An ideal place for spread betting
Trader Rating Total
up to 1:30
MT4, Broker-owned Software
Yes, available for 30 days
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.
- Over 350 tradable assets.
- 53 forex pairs, including lots of major, minor, exotic, and cryptocurrency pairs.
- More than 300 stocks to choose from.
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%.
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.
- 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.
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%.
- There is only one spread betting account type: Spread Betting Fixed.
- MT4 trading platforms.
- Spreads start from 0.6 pips.
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.
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.
- 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.
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.
- 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.
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.
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.
- 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.
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.
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.
- 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.
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.
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.
- 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.
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.
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.
- 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.
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 …
- GKFX is an award-winning broker.
- Best Forex Platform in 2017.
- Forex Broker Of The Year in three consecutive years.
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.
- 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
- Only for UK traders
- There is only one type of account: Spread Betting Fixed