General Information & Regulation
GKFX (AKFX Financial Services LTD) is a Malta based securities brokerage company, licensed to offer financial services in the EU. AKFX Financial Services Ltd. was established in 2013 and acquired by Global Kapital Group in 2018. The group has been in the Forex and CFD brokerage business since 2010 with extensive experience in the industry. GKFX holds Category II Investment Services License (ID#: C60473) authorized by the Malta Financial Services Authority (MFSA).
Markets Instruments
GKFX offers over 600 assets across five classes and continues to grow this base. Traders have access to the Forex and cryptocurrency markets, equity and index trading as well as commodity trading.
Minimum Deposit
GKFX offers three different account options: Standard, Premium, and Corporate. Most traders will be drawn to the Standard account given that the minimum deposit amount is €100. Users would need at least €20,000 to open a Premium or Corporate account.
Leverage
The maximum leverage is 1:30 for forex trading.GKFX is expanding into the cryptocurrency sector and currently offers five cryptocurrency pairs with a maximum leverage of 1:2 while maximum trading limits are additionally in place.Since equity CFDs are offered, it is reasonable to extend this to index CFDs where majors can be traded with a maximum leverage of 1:20 and minors with 1:10.
Spreads & Commissions
Spreads start at around 0.6 pips for EUR/USD, 0.7 for GBP/USD, and 1.4 for EUR/GBP. Target spreads for major indices such as the FTSE 100 are around 1 and go as low as 0.4 points for the SP500. Spot gold spreads are 0.3 pips and 0.026 for silver. Crude oil spreads start from 0.03 pips. For cryptocurrencies, target spreads for Ripple vs USD start from 0.1.
Trading Platform Available
GKFX offers the full suite of the MT4 trading platform which consists of the downloadable version, the mobile version, and the web version. While MT4 remains the most popular trading platform, out-of-the-box it is an incomplete platform; this is particularly accurate for more advanced traders. Hundreds of millions have been invested in products and services created in the MT4 infrastructure which can transform it into a dominant trading platform.
Deposit& Withdrawal
Deposits
Clients can fund their accounts using:
Bank wire transfer – Swift transfer cost. 2-5 days
Debit/credit cards – 2.5% fee. Instant
Neteller – 1% fee. Instant
Skrill – 1% fee. Instant
Bitcoin – 1.5% fee. Up to one hour
WebMoney – 3%. Instant
QIWI Wallet – 5%. Instant
Russian Post – free. Up to 72 hours
Withdrawals
Clients can withdraw profits using:
Bank wire transfer – 0.5% fee (minimum $30). Up to 10 days
Debit/credit cards – 2.5% + $7.5. Up to 6 days
Neteller – 1.5% fee. Up to one day
Skrill – 1% fee. Up to one day
Bitcoin – 1.5% fee. Up to one day
WebMoney – 1.5%. Up to one day
QIWI Wallet – 1.5%. Instant. Up to one day
Customer Support
The support team of GKFX is available from Sunday 10 pm through Friday 10 pm and can be reached via phone, e-mail or message directly from their website. A live chat function is listed, but it was not available during standard business hours which is when this review was conducted.
Trading Hour
Online forex trading sessions vary and some time zones will overlap, attracting the highest volume of traders. GKFXs opening hours for forex, commodities, and indices run from Sunday at 10:02 pm to Friday at 09:58 pm UK time. For equities, the market opens on Monday at 16:35 and closes on Friday at 22:50.
