What is GKFX Prime？

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.

What Type of Broker is GKFX Prime？

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.

Pros & Cons

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.

GKFX Prime Alternative Brokers

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.

Is GKFX Prime Safe or Scam？

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.

Market Instruments

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.

Accounts

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.

How to open an account with GKFX Prime？

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.

Leverage

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.

Spreads & Commissions

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:

Note: The above information is subject to change and may vary based on account types and market conditions.

Trading Platforms

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:

Deposits & Withdrawals

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 minimum deposit vs other brokers

GKFX Prime Money Withdrawal

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.

Bonus & Fees

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:

Please note that these fees are subject to change and may vary depending on the country of residence and the payment method used.

Customer Service

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.

Note: These pros and cons are subjective and may vary depending on the individual's experience with GKFX Prime's customer service.

Education

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.

Conclusion

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.

Frequently Asked Questions (FAQs)

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

What is Hirose Financial？

Hirose Financial UK is a FCA regulated Forex trading company offering multiple trading solutions to the FX community basing in the UK. It is founded in 2010, a subsidiary of Hirose Tusyo of Japan. The broker provides online trading services for the foreign exchange market, allowing clients to trade various currency pairs. They offer both major and minor currency pairs, as well as exotic currency pairs.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Hirose Financial Alternative Brokers

There are many alternative brokers to Hirose Financial depending on the specific needs and preferences of the trader. Some popular options include:

• IC Markets - A popular and reputable Forex and CFD broker with competitive pricing and advanced trading platforms.

• Pepperstone- An award-winning Forex and CFD broker with low fees, fast execution speeds, and multiple trading platforms.

• OANDA- A trusted global Forex and CFD broker with an easy-to-use trading platform, competitive pricing, and excellent customer service.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is Hirose Financial Safe or Scam？

Based on the information available, Hirose Financial is authorized and regulated by the Financial Conduct Authority (FCA), which makes it appears to be a reliable and reputable online broker. But it is important to note that experience alone does not guarantee the legitimacy or security of a brokerage firm. Exposure of withdrawal and fraud issues are red flags that should not be ignored as well.

Anyway, as with any investment, there is always some level of risk involved, and it is important for traders to do their own research and carefully consider their options before investing.

Market Instruments

Hirose Financial UK offers a large range of Forex instruments for traders, with a wide selection of over 46 currency pairs to trade.

Forex trading involves the buying and selling of different currencies in pairs, with the aim of profiting from the fluctuations in their exchange rates. Traders can engage in trading major currency pairs such as EUR/USD, GBP/USD, USD/JPY, as well as minor and exotic currency pairs through Hirose Financial.

Accounts

Demo Account: Hirose Financial provides a free demo account that allows you to try out the financial markets without the risk of losing money.

Live Account: Hirose Financial offers the advantage of no minimum deposit requirement to open a live account, allowing traders to start trading without any specific financial commitment while deposit requirements vary depending on the chosen deposit method.

Leverage

When it comes to leverage, Hirose Financial enables its clients to use the maximum trading leverage up to 1:30. Leverage is a mechanism that allows traders to control larger positions in the market with a smaller amount of capital. With a leverage ratio of 1:30, traders can potentially amplify their trading positions by up to 30 times their invested capital. This means that for every $1 of capital, traders can have exposure to $30 worth of assets in the market.

While leverage can magnify potential profits, it's important to note that it also increases the risk of losses. Higher leverage ratios come with increased market exposure and the possibility of larger losses if the trades move against the trader's expectations. Therefore, it's crucial for traders to use leverage judiciously and implement appropriate risk management strategies to protect their capital.

Hirose Financial's provision of leverage up to 1:30 may be suitable for traders who are comfortable with a certain level of risk and have a thorough understanding of the potential implications of trading with leverage. It's important for traders, especially beginners, to educate themselves about leverage, its risks, and how to use it responsibly before engaging in leveraged trading.

Spreads & Commissions

Hirose Financial offers competitive spreads on its trading platforms. For the LION Trader (ActTrader) platform, traders can benefit from spreads starting from as low as 0.7 pips. This means that the difference between the buying and selling prices of currency pairs or other instruments can be as minimal as 0.7 pips, offering potentially tighter pricing for traders.

On the MetaTrader 4 (MT4) platform, Hirose Financial provides spreads starting from 1.9 pips. While slightly higher than the LION Trader platform, it still offers competitive pricing for traders using MT4. Both platforms aim to offer traders access to tight spreads, allowing for more cost-effective trading.

It's worth noting that Hirose Financial does not charge commissions on trades. This indicate that traders can execute their trades without incurring additional fees beyond the spread. This fee structure can be beneficial for traders, as it allows for more transparent and predictable transaction costs.

Below is a comparison table about spreads and commissions charged by different brokers:

Please keep in mind that spread values can vary depending on market conditions, account type, and other factors. Commission structures may also differ based on the broker's pricing model and the type of account being used. It's important to review the official websites or contact the brokers directly for the most accurate and up-to-date information on spreads and commissions.

Trading Platforms

Hirose Financial UK offers its clients the flexibility to trade on multiple devices through their supported platforms. Traders can access the popular MetaTrader 4 (MT4) platform on various devices, including PC, iPad, iPhone, and Android devices. This allows for seamless trading experiences across different operating systems and devices, catering to the diverse needs of traders.

Additionally, Hirose Financial provides the Lion Trader platform, which is available on PC, iPhone, iPad and Android devices. The Lion Trader platform offers a user-friendly interface and features specifically designed to enhance the trading experience. Traders can conveniently access their trading accounts, monitor market movements, execute trades, and manage their positions from their preferred devices.

Overall, Hirose Financial'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:

Deposits & Withdrawals

Hirose Financial offers convenient options for depositing and withdrawing funds.

Deposits: Traders can make deposits using Neteller, a popular electronic payment method, or through wire transfers. Additionally, Hirose Financial allows for account balance transfers between accounts without any extra fees.

Withdrawals: When it comes to withdrawals, traders have the choice of using Neteller, local wire transfer, or international wire transfer. Neteller offers a seamless and quick withdrawal process. Local wire transfers are available for withdrawals in GBP, EUR, and USD, with specific handling fees applicable. For international wire transfers, fees vary based on the currency, and additional fees may apply when funds are returned to the beneficiary bank.

Fees

There are no extra fees when making deposit within Hirose Financial, while for withdrawals, theres different thresholds and handling fees:

Neteller: with Neteller withdrawals, there are no fees involved, and the minimum withdrawal amount is 20 GBP, 20 USD, or 20 EUR, maximum withdrawal limit is 5,000 USD per transaction.

Local wire transfers: Clients can expect a fee of £6.00 for GBP, £8.50 for EUR, and £8.50 for USD, along with a minimum withdrawal amount of 20 GBP, 20 USD, or 20 EUR by this method.

International wire transfers: there will be £5.00 for EUR and £8.50 for USD and GBP via this method, with a minimum withdrawal amount of 50 GBP, 50 USD, or 50 EUR.

It's important to note that additional fees may apply for certain transactions, such as when returning international wire transfers to the beneficiary bank. Clients should consult their own banks for specific details regarding any additional fees.

User Exposure on WikiFX

On our website, you can see that a report of unable to withdraw. Traders are encouraged to carefully review the available information. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Customer Service

Hirose Financial provides multiple customer service options to assist its clients. Customers can reach out to Hirose Financial through various channels to address their queries and concerns as below:

Phone: +44 (0)20 3089 3880

Customer support email: info@hiroseuk.com.

Additionally, Hirose Financial offers a Contact Us form on their website. Customers can fill out this form with their queries, providing details about their specific needs or concerns.

Live chat support is also available for immediate assistance.

Additionally, Hirose Financial offers screen sharing functionality through Skype.

Besides of this, you can also get in touch with this broker on some social networks such as Twitter, Facebook and YouTube while their FAQ section is a valuable resource for finding quick answers to common queries as well.

Overall, Hirose Financial's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Note: These pros and cons are subjective and may vary depending on the individual's experience with Hirose Financial's customer service.

Education

Hirose Financial offers a comprehensive educational package to support traders in their journey.

The educational resources include a forex guide, trading manual, and glossary, providing valuable insights and knowledge about the foreign exchange market. These resources aim to enhance traders' understanding of forex trading concepts, strategies, and terminology.

In addition to the foundational materials, Hirose Financial also offers educational resources on technical analysis and economic indicators. Technical analysis equips traders with tools and techniques to analyze price charts, identify trends, and make informed trading decisions. Economic indicators provide valuable information about the overall economic health which can impact currency markets. By understanding and interpreting these indicators, traders can better anticipate market movements and adjust their strategies accordingly.

Whether traders are beginners or experienced, these educational materials can serve as valuable references to improve their trading abilities and make more informed decisions in the forex market.

Conclusion

According to available information, Hirose Financial is a regulated UK-based brokerage firm. While the firm has significant experience in the industry and offers a professional Forex trading and receives a lot of good reviews from their clients, it is important to consider certain factors such as reports of unable to withdraw that may raise concerns. It is critical that potential clients exercise caution, conduct thorough research and seek up-to-date information directly from Hirose Financial before making any investment decisions.

Frequently Asked Questions (FAQs)