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Do you want to know which is the better broker between Saxo and GKFX Prime ?
In the table below, you can compare the features of Saxo , GKFX Prime side by side to determine the best fit for your needs.
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of saxo, gkfx-prime lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Saxo Review Summary in 10 Points | |
Founded | 1992 |
Headquarters | Hellerup, Denmark |
Regulation | ASIC, FCA, FSA, SFC, BDF, CONSOB, FINMA, MAS |
Market Instruments | Forex, stocks, futures, options, bonds, ETFs and CFDs |
Demo Account | Available |
Leverage | 1:100 |
EUR/USD Spread | 0.4 pips |
Trading Platforms | SaxoInvestor, SaxoTraderGO, SaxoTraderPRO |
Minimum deposit | HKD10,000 |
Customer Support | 24/5 phone, email |
Saxo is a Danish investment bank founded in 1992. It provides online trading and investment services in multiple assets, including stocks, bonds, forex, options, futures, and CFDs, through its proprietary trading platforms. The bank operates in over 100 countries and has offices in major financial centers worldwide, including Copenhagen, London, Singapore, and Tokyo. Saxo Bank is regulated by several financial authorities, including the Danish Financial Supervisory Authority, the UK Financial Conduct Authority, and the Monetary Authority of Singapore. The bank also has a banking license and is a member of the Danish guarantee fund for depositors and investors.
Saxo is a multi-asset broker that offers access to a wide range of financial instruments, including forex, stocks, bonds, ETFs, futures, options, and more. The broker provides trading services through its advanced trading platforms and caters to both retail and institutional clients. Saxo operates as a hybrid broker, offering both direct market access (DMA) and market making services.
Saxo is a well-established and reputable broker with a range of trading platforms, instruments, and research tools.
However, the broker's high fees, minimum deposit requirement, and lack of negative balance protection may not be suitable for all traders. Additionally, some users have reported poor customer service experiences.
Pros | Cons |
• Wide range of financial instruments available | • High minimum deposit requirement |
• Access to multiple markets and exchanges | • Fees and commissions may be higher than competitors |
• User-friendly trading platforms | • Inactivity fee for dormant accounts |
• Advanced trading tools and research | • Limited educational resources |
• Regulated by top-tier financial authorities | • Limited customer support options |
Overall, it is important for traders to carefully consider their own needs and preferences before choosing Saxo or any other broker.
There are many alternative brokers to Saxo, each with their own unique features and benefits. Some popular alternatives include:
Interactive Brokers: A well-established broker with a wide range of trading instruments and low commissions.
TD Ameritrade: Offers a powerful trading platform and a variety of educational resources.
E*TRADE: A popular broker with a user-friendly platform and no account minimums.
IG: A global leader in online trading, offering a wide range of markets and advanced trading tools.
Plus500: A broker known for its user-friendly platform and tight spreads.
Ultimately, the best alternative broker for you will depend on your specific trading needs and preferences. It's important to research and compare different brokers to find the one that best fits your individual needs.
Saxo is a legitimate and reputable broker with a long track record of providing reliable trading services. It is regulated by top-tier financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Danish Financial Supervisory Authority (DFSA). Additionally, Saxo is a member of several investor protection funds, such as the Financial Services Compensation Scheme (FSCS) in the UK, which protects clients' funds up to a certain amount in case of the broker's insolvency. Therefore, based on its regulation and investor protection measures, Saxo can be considered a legitimate broker.
Saxo is a regulated broker, with licenses from multiple reputable regulatory authorities and a long-standing history of providing financial services. The broker takes extensive measures to protect client funds, including segregating them from the company's assets and offering negative balance protection.
Additionally, Saxo offers various security features, such as two-factor authentication and encryption, to ensure secure trading.
More details can be found in the table below:
Security Measures | Description |
Regulation | FSA, FINMA, FCA, ASIC, DFSA |
Segregated Accounts | Client funds are held in segregated bank accounts to protect them in case of insolvency. |
Two-Factor Authentication | As an extra layer of security for client accounts |
SSL Encryption | The Saxo website and platform are secured with SSL encryption to protect user data |
Investor Compensation Scheme | A member of the Danish Investor Compensation Scheme, which provides additional protection to clients in case of insolvency |
It's important to note that while these measures provide some level of protection for clients, there is always some level of risk involved in trading financial instruments, and clients should always be aware of the risks before making any trades.
Based on the information available, Saxo appears to be a reliable and trustworthy broker. It is regulated by reputable authorities, has been in operation for several years. However, we also find that some users complain about their bad experience with Saxo. Take care!
Saxo offers a wide range of trading instruments across multiple asset classes, including
Forex: More than 180 currency pairs, including majors, minors, and exotics.
Stocks: Over 40,000 stocks from 36 global exchanges, including NYSE, NASDAQ, LSE, and more.
Futures: Over 200 futures and options across a variety of asset classes such as commodities, indices, and bonds.
Options: A wide range of options on stocks, indices, and futures.
Bonds: Trade a wide range of government and corporate bonds, including sovereign bonds from developed and emerging markets.
ETFs and CFDs: Access to over 3,000 ETFs and CFDs on indices, commodities, and stocks.
Saxo offers a range of account types designed to suit the different needs of its clients. The account types offered by Saxo are:
Classic Account: A traditional account with minimum funding of HKD10,000, which offers a range of trading tools and resources.
Platinum Account: A premium account for high-net-worth individuals, with a minimum funding requirement of HKD 1,500,000.
VIP Account: An exclusive account for ultra-high-net-worth individuals, with a minimum funding requirement of HKD 8,000,000.
Islamic Account: A Sharia-compliant account for clients who follow Islamic finance principles.
Corporate Account: An account for companies, partnerships, and other legal entities.
Joint Account: An account for two or more individuals who want to trade together.
Each account type has its own unique features and benefits, such as lower pricing, higher leverage, and dedicated account managers. Saxo also offers a free demo account for clients to practice trading before committing to a live account.
It takes only about five minutes and a short online form to open an account. Clients will need to submit the standard verification documents required by KYC and AML rules, but the procedure should be quick and easy, and they will have access to their account in minutes.
Saxo offers leverage up to 1:100 for forex trading. Professional clients are entitled to leverage of 1:40 for the primary index, 1:33 for the secondary index, 1:33 for gold, 1:10 for equities, and 1:25 for commodities. Retail clients are entitled to leverage of 1:20 for the primary index, 1:10 for the secondary index, 1:20 for gold, 1:5 for equities and 1:10 for commodities.
However, the maximum leverage may vary depending on the instrument being traded and the client's location. It is important to note that trading with high leverage carries a higher level of risk, and traders should always exercise caution and use risk management strategies.
Saxo offers variable spreads, which means that the spreads can change depending on market conditions. The typical minimum spreads for popular instruments are as follows:
EUR/USD: 0.4 pips
USD/JPY: 0.6 pips
GBP/USD: 0.9 pips
AUD/USD: 0.6 pips
USD/CHF: 1.2 pips
USD/CAD: 1.5 pips
Saxo also charges commissions on some products, including stocks, ETFs, and futures. The commission fees vary depending on the specific market and the size of the trade. Commissions start at $3 per share for equities, as low as $0.85 per lot for commodities, and $3 per share for ETFs. Futures commissions start as low as $0.85 per lot, bonds commissions start at 0.05%, listed options commissions start as low as $1.25 per lot, and mutual funds commissions are $0 for custody and platform fees.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission per lot |
Saxo | 0.4 pips | $3 |
Interactive Brokers | 0.1 pips | $2 |
TD Ameritrade | 0.7 pips | free |
E*TRADE | 1.0 pips | free |
IG | 0.75 pips | free |
Plus500 | 0.8 pips | free |
Please note that commission rates may vary depending on the specific account type and trading volume. Additionally, some brokers may offer different spreads and commissions for other currency pairs or financial instruments. It's important to do your own research and carefully consider the costs and fees of each broker before making a decision.
Saxo offers its own proprietary trading platform called SaxoTraderGO. It is a web-based platform that can be accessed from any device with an internet connection. In addition to SaxoTraderGO, Saxo also offers SaxoTraderPRO, a desktop-based trading platform that is designed for advanced traders who require additional functionality.
SaxoTraderGO is highly customizable, allowing traders to arrange the interface to suit their preferences. It provides access to a wide range of trading tools and features, including charting tools, technical analysis indicators, and news feeds. The platform also includes a comprehensive range of order types, including market, limit, stop, and trailing stop orders.
SaxoTraderPRO is a professional-grade trading platform that offers advanced trading tools and features. It is designed for active traders and includes a range of tools that allow traders to monitor multiple markets and instruments simultaneously. The platform also includes advanced charting tools and a range of order types, including conditional orders and algorithmic trading capabilities.
Saxo also offers SaxoInvestor, which is a user-friendly trading platform suitable for beginner investors who are interested in a wide range of asset classes. It provides a simple and intuitive interface with basic research tools and features, making it easy for investors to buy and sell stocks, ETFs, bonds, and mutual funds. However, advanced traders may find the platform's lack of advanced tools and customization options limiting.
Overall, Saxo's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:
Broker | Trading Platform |
Saxo | SaxoTraderGO, SaxoTraderPRO, SaxoInvestor |
Interactive Brokers | Trader Workstation, WebTrader, IBKR Mobile |
TD Ameritrade | Thinkorswim, Web Platform, TD Ameritrade Mobile App |
E*TRADE | Power E*TRADE, E*TRADE Web, E*TRADE Mobile |
IG | IG Trading Platform, IG Web Platform, IG Trading App |
Plus500 | Plus500 WebTrader, Plus500 Mobile App |
Saxo Bank supports several deposit and withdrawal methods, including Visa, MasterCard, Visa Debit, Visa Electron, MasterCard Debit, Maestro (for UK residents), Visa Dankort (for Denmark residents), Carte Bleue (for France residents). The company does not charge any fees for deposits and withdrawals, but if an investor makes a withdrawal request via manual withdrawal, a processing fee of 40 EUR will be charged.
Saxo has different minimum deposit requirements depending on the type of account you open and your country of residence. For example, the minimum deposit for the Classic account is HKD10,000.
However, these amounts can vary depending on your location and the specific account type. It's important to check with Saxo directly or on their website for the most up-to-date information on minimum deposit requirements.
Saxo | Most other | |
Minimum Deposit | HKD10,000 | $100 |
To withdraw funds from your Saxo account, you need to follow these steps:
Step 1: Log in to your Saxo account using your credentials.
Step 2: Click on the “Account” tab located on the top right corner of the screen.
Step 3: Click on “Withdraw Funds” from the account menu options.
Step 4: Select the account you wish to withdraw funds from, enter the amount you want to withdraw, and select the currency you want to withdraw in.
Step 5: Choose the preferred withdrawal method from the available options and provide the necessary details such as bank account information or credit/debit card information.
Step 6: Review the details of your withdrawal request and click on “Submit.”
Note that Saxo may require additional verification or documentation before processing your withdrawal request. The processing time for withdrawals may vary depending on the chosen method and your bank's processing time.
Swap costs, sometimes called overnight fees, are assessed on overnight open positions at Saxo Bank. These are expressed as interest and, depending on the trader's position, might be either charged to or credited to his or her account.
Traders of the Muslim faith, for whom the payment of interest is forbidden, are out of luck with Saxo Bank because they don't have the option of opening an Islamic account. With the wide variety of deposit currencies offered by Saxo Bank, customers will have a decreased chance of incurring conversion fees.
Amounts credited to your account are converted from their original currency at the mid-point FX Spot rate plus/minus the margins and spreads indicated below. This includes both trading fees and profits/losses incurred as a result of your trading activities.
Fees for account inactivity are also a reality for inactive accounts. After the initial six months, the rate increased to $150, which is quite a bit.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
Saxo | Free | Free | $150 after six months of inactivity |
Interactive Brokers | Free | $0-$10 | $20/month if account balance < $2,000 |
TD Ameritrade | Free | Free | Free |
E*TRADE | Free | $0-$25 | Free |
IG | Free | Free | $18/month after 24 months of inactivity |
Plus500 | Free | Free | $10/month after 3 months of inactivity |
Saxo provides customer support through several channels, including phone, email, and social media (Facebook, LinkedIn, Twitter and YouTube). The broker offers 24/5 customer service in multiple languages, including English, Chinese, French, German, Italian, Japanese, Portuguese, and Spanish.
Saxo also provides a comprehensive help center on its website that includes an extensive knowledge base, FAQs, trading guides, and video tutorials. The broker's customer service is generally considered to be of high quality, with knowledgeable representatives who are responsive and helpful.
Pros | Cons |
• 24/5 customer service through multiple channels | • No 24/7 support service |
• Dedicated support for VIP clients | • Phone support may have long wait times |
• Extensive FAQ section on the website | • No dedicated account manager for non-VIP clients |
• Personalized support for complex trading needs | • No local offices in some countries |
• Multilingual support available for non-English users |
Note: These pros and cons are subjective and may vary depending on the individual's experience with Saxo's customer service.
Saxo Bank provides excellent market research in addition to a wealth of instructional resources like video courses, webinars, and events. Saxo Bank's SaxoStrats Experts group consists of eight analysts and strategists who are tasked with providing coverage of the various asset classes available to customers. It's apparent that this broker places a high value on its research team and recognizes the significance of this service, both for its clients and as a global investment bank. The classes are a wonderful way for newcomers to get their feet wet and become acquainted with the resources that are at their disposal. Videos are easy to follow and understand, helping novice traders quickly get up to speed and lay a solid groundwork from which to expand their knowledge. Saxo Bank specialists will be hosting webinars.
In conclusion, Saxo is a well-established broker. The broker offers a wide range of trading instruments, including forex, stocks, options, futures, and CFDs, and provides access to various markets worldwide. Saxo also offers an advanced trading platform and a user-friendly mobile app, making it easy for traders to access the markets on the go.
While Saxo has some of the highest fees in the industry, the broker's competitive spreads and tight execution make it a popular choice for traders. Additionally, Saxo's robust educational resources and customer support make it an ideal choice for traders of all skill levels who want to improve their knowledge and skills in trading.
Overall, Saxo is a multi-asset broker that offers a comprehensive suite of trading tools and services to help traders achieve their investment goals. However, potential clients should carefully consider the fees and minimum deposit requirements before opening an account. Also, dont forget check their user reviews on the Internet.
Q 1: | Is Saxo regulated? |
A 1: | Yes. It is regulated by ASIC, FCA, FSA, SFC, BDF, CONSOB, FINMA, MAS. |
Q 2: | Does Saxo offer demo accounts? |
A 2: | Yes. |
Q 3: | Does Saxo offer the industry-standard MT4 & MT5? |
A 3: | No. Instead, it offers SaxoInvestor, SaxoTraderGO, and SaxoTraderPRO. |
Q 4: | What is the minimum deposit for Saxo? |
A 4: | The minimum initial deposit to open an account isHKD10,000. |
Q 5: | Is Saxo a good broker for beginners? |
A 5: | Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
GKFX Prime Review Summary in 10 Points | |
Founded | 2012 |
Headquarters | UK |
Regulation | FSC |
Market Instruments | Forex, Commodities, Indices, Stocks, Cryptocurrency |
Demo Account | Available |
Leverage | 1:400 |
EUR/USD Spread | 1.8 pips |
Trading Platforms | MT4, MT5 |
Minimum deposit | $0 |
Customer Support | 24/5 Live chat, phone, email |
GKFX Prime is an online forex and CFD broker that was established in 2012. The broker is based in the United Kingdom. GKFX Prime provides traders with a range of trading instruments, including forex, indices, commodities, and cryptocurrencies. They offer various account types and trading platforms, including the popular MetaTrader4 and MetaTrader5 platforms. GKFX Prime also provides educational resources and customer support in multiple languages.
GKFX Prime is a Straight Through Processing (STP) broker that offers clients direct access to interbank markets without the need for a dealing desk or human intervention. This means that trades are executed instantly and efficiently without any conflict of interest between the broker and the client.
GKFX Prime's main advantages are their competitive trading conditions, including tight spreads and low commissions, as well as their extensive range of trading instruments and educational resources.
However, their lack of regulatory oversight in major jurisdictions and too many complaints from users may be a concern for some traders.
Ultimately, it's important for traders to weigh these factors against their own priorities and preferences when choosing a broker.
Pros | Cons |
• Multiple account types and platforms | • No legitimate regulatory licenses |
• Tight spreads and low commissions | • No US clients allowed |
• No deposit or withdrawal fees | • Too many complaints |
• extensive range of trading instruments and educational resources |
Some alternative brokers to GKFX Prime include:
IC Markets: An Australian-based broker that offers ECN trading with tight spreads and low commissions. They also have a wide range of trading instruments and multiple trading platforms.
Admiral Markets: A European-based broker with a strong focus on education and research. They offer a variety of account types and trading platforms, as well as a wide range of trading instruments.
FxPro: A UK-based broker with over 15 years of experience in the industry. They offer a range of trading platforms and account types, including ECN trading with tight spreads.
Pepperstone: An Australian-based broker that offers low spreads, fast execution, and a variety of trading platforms. They also offer a range of educational resources for traders.
XM: A global broker that offers a wide range of trading instruments and multiple account types. They also offer a demo account for traders to practice trading strategies without risking real money.
It is important to thoroughly research and compare different brokers before choosing one that suits your trading needs and preferences.
As GKFX Prime is an unregulated broker, its reliability may be a concern for some traders. While the company has been operating for several years, the lack of regulatory oversight may make it less attractive to traders who prioritize safety and security. The worse is that there are too many complaints from their users.
Also, it's important to note that being unregulated doesn't necessarily mean that a broker is unreliable. However, it does mean that there is no external oversight of the broker's activities and no protection for clients in the event of financial difficulty or fraud. Clients should exercise caution when dealing with unregulated brokers and conduct thorough research before opening an account.
GKFX Prime offers 400+ financial instruments to trade, including forex, commodities, indices, stocks, and cryptocurrencies.
Forex: over 50 currency pairs, including major, minor, and exotic pairs.
Commodities: including gold, silver, oil, and natural gas.
Indices: over 20 global indices, including popular indices like the S&P 500, FTSE 100, and DAX 30.
Stocks: over 300 stocks from companies listed on exchanges in the US, UK, Germany, and France.
Cryptocurrency: including Bitcoin, Ethereum, and Litecoin.
Apart from free demo accounts, there is a large variety of live trading accounts available at GKFX Prime, and each one is tailored to the specific requirements of the clients.
A trader's risk appetite, the quantity of their initial investment, and the amount of free time they have daily to devote to trading the Forex market are all important considerations when deciding which account type will best suit their needs.
The account types include the following: Standard Fixed, Standard Variable, VIP Variable and ECN Zero. Additionally, Islamic accounts are available for clients who follow Sharia laws. There is no minimum deposit requirement for Standard Fixed, Standard Variable and ECN Zero accounts, while $5,000 for VIP Variable accounts.
To open a new forex trading account with GKFX Prime, you must first pass a simple “know your customer” test. Because of this, GKFX Prime can verify your identity, your account information, and the security of your cash.
Login information for the trading platform that is best suited to the type of account you opened will typically be emailed to you after the initial registration.
Step 1 – Register an account
Open your Live Trading Account.
Step 2 – Fill out the 5-page form
Supply personal detail, financial information, trade knowledge and experience, etc.
The maximum leverage offered by GKFX Prime is 1:400. However, the leverage available to you may vary depending on your location and the regulatory restrictions in place.
Different account types have different trading conditions. Specifically, Standard Fixed accounts have spread from 1.8 pips and no commissions; Standard Variable accounts have spread from 1.2 pips and no commissions; VIP Variable accounts have spread from 0.6 pips and no commissions; ECN Zero accounts have spread as low as 0.0 pips but have to pay a commission of 10/lot.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
GKFX Prime | 1.8 pips | No (except for ECN Zero account) |
IC Markets | 0.1 pips | $7 per standard lot |
Admiral Markets | 0.5 pips | No (except for Zero.MT4) |
FxPro | 1.4 pips | No |
Pepperstone | 0.16 pips | No (except for Razor account) |
XM | 0.8 pips | No |
Note: The above information is subject to change and may vary based on account types and market conditions.
GKFX Prime offers the MetaTrader4 (MT4) and MetaTrader5 (MT5) trading platforms, which are popular and widely used platforms among traders. They provide access to a range of tools and features, including advanced charting, technical analysis tools, automated trading capabilities, and the ability to customize and use third-party indicators and trading algorithms.
They are both available for desktop, web, and mobile devices, making it convenient for traders to access their accounts and trade from anywhere at any time. Additionally, GKFX Prime offers a VPS (Virtual Private Server) service to clients who require faster and more reliable connection to the MT4 and MT5 platforms.
Overall, GKFX Prime's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:
Broker | Trading Platforms |
GKFX Prime | MT4, MT5 |
IC Markets | MT4, MT5, cTrader |
Admiral Markets | MT4, MT5 |
FxPro | MT4, MT5, cTrader |
Pepperstone | MT4, MT5, cTrader |
XM | MT4, MT5, WebTrader |
While there is no minimum deposit requirement with GKFX Prime, we advise putting up at least five dollars so that you have more flexibility and a higher chance of building positions large enough to make a difference in the markets. The company offers quick deposit and withdrawal alternatives to GKFX Prime traders so that regular traders can have more faith in the platform and gain more market access.
Credit cards (Visa, MasterCard and Maestro), bank transfers and e-wallets such as Neteller and Skrill are all acceptable methods of payment, so long as the buyer has provided the necessary “know your customer” papers to comply with AML regulations. The most common of them is a photocopy of your passport and some form of the recent bill showing your current address.
Credit cards and bank transfers are both acceptable withdrawal methods. Transfers made with a credit card take three to five business days to process, while wire transfers can take anywhere from one to five days. Withdrawal is free of charge.
Please note that some deposit and withdrawal methods may not be available in certain regions/countries, and fees and processing times may vary depending on the chosen method.
GKFX Prime | Most other | |
Minimum Deposit | 0 | $100 |
To withdraw funds, clients need to log in to their account, go to the “Withdrawal” section, select the preferred withdrawal method, and follow the instructions provided. It's worth noting that GKFX Prime may require additional documentation for verification purposes before processing the withdrawal request.
GKFX Prime claims to offer a 100% welcome bonus and a 50% re-deposit bonus. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task.
Apart from commission fees on the ECN Zero account, there are no other fees charged.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
GKFX Prime | Free | Free | No |
IC Markets | Free | $0-$20 depending on method | AUD$10 per month after 6 months of inactivity |
Admiral Markets | Free | Free | €10 per month after 24 months of inactivity |
FxPro | Free | Free | $5 per month after 12 months of inactivity |
Pepperstone | Free | Free | AUD$15 per month after 12 months of inactivity |
XM | Free (may vary depending on method and country) | Free (may vary depending on method and country) | $5 per month after 90 days of inactivity |
Please note that these fees are subject to change and may vary depending on the country of residence and the payment method used.
GKFX Prime offers customer support in multiple languages through various channels including live chat, phone, and email. Their customer support is available 24/5, which means that traders can get assistance during the trading week. Additionally, GKFX Prime provides support through social media platforms such as Facebook, Twitter, LinkedIn, Instagram and YouTube.
The broker also provides an FAQ section and educational resources on its website to assist traders. Overall, GKFX Prime has a good reputation for customer support.
Pros | Cons |
• Multiple channels for customer support including email, phone, and live chat | • No 24/7 customer support available |
• Dedicated account manager for VIP clients | |
• Multilingual customer support | |
• Quick response time to customer inquiries | |
• Availability of customer support during market hours |
Note: These pros and cons are subjective and may vary depending on the individual's experience with GKFX Prime's customer service.
Those interested in opening an account with GKFX Prime should familiarize themselves thoroughly with the ins and outs of forex and commodity trading before placing any trades. If a trader needs more information than is available on the GKFX Prime website, they should look elsewhere.
GKFX Prime offers a range of educational resources for traders of all levels, including video tutorials, articles, ebooks, webinars, seminars.
Webinars: GKFX Prime provides free webinars to its clients, covering various trading topics, such as market analysis, risk management, and trading strategies.
Video tutorials: The broker offers a collection of video tutorials covering a range of trading topics, including technical analysis, trading psychology, and risk management.
Based on the information provided, GKFX Prime is an unregulated broker with a wide range of trading instruments and account types. While their trading conditions are relatively competitive, the lack of regulation raises concerns about the safety of client funds. Their customer support and educational resources are adequate but not exceptional. Overall, traders should approach GKFX Prime with caution and consider alternative brokers that are regulated and offer more comprehensive services.
Q 1: | Is GKFX Prime regulated? |
A 1: | Yes. It is regulated by FSC. |
Q 2: | At GKFX Prime, are there any regional restrictions for traders? |
A 2: | Yes. GKFX Prime does not provide services for the residents of certain countries, such as the United States of America, Canada, Japan, Indonesia, Turkey, Israel and the Islamic Republic of Iran. |
Q 3: | Does GKFX Prime offer demo accounts? |
A 3: | Yes. |
Q 4: | Does GKFX Prime offer the industry-standard MT4 & MT5? |
A 4: | Yes. Both MT4 and MT5 are available. |
Q 5: | What is the minimum deposit for GKFX Prime? |
A 5: | There is no minimum initial deposit requirement. |
Q 6: | Is GKFX Prime a good broker for beginners? |
A 6: | Yes. GKFX Prime is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive saxo and gkfx-prime are, we first considered common fees for standard accounts. On saxo, the average spread for the EUR/USD currency pair is -- pips, while on gkfx-prime the spread is as low as 0.0.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
saxo is regulated by ASIC,FCA,FSA,SFC,AMF,CONSOB,FINMA,MAS,AMF,DFSA,ASIC. gkfx-prime is regulated by FSC,MFSA,BaFin,CNMV,CNB,CNMV,SERC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
saxo provides trading platform including VIP account,Classic account,Platinum account and trading variety including --. gkfx-prime provides trading platform including ECN 0,STANDARD,VIP and trading variety including Forex, Metals, Indices, Energies etc..