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GKFX Prime , Interactive Brokers Broker Comparison

Do you want to know which is the better broker between GKFX Prime and Interactive Brokers ?

In the table below, you can compare the features of GKFX Prime , Interactive Brokers side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2  brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Official website
Basic Information
Established(years)
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed(ms)
The highest transaction speed(ms)
The highest speed of opening positions(ms)
The highest speed of closing position(ms)
Slowest transaction speed(ms)
The lowest speed of opening positions (ms)
The lowest speed of closing position(ms)
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost (USD/Lot)
Rollover Cost
Rollover cost rating
  • Average Rollover Cost (USD/Lot)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time(ms)
Account Information
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
1.59
Suspicious Clone
No guarantee
5-10 years
MFSA,BaFin,FSC,CNMV,CNB,CNMV,SERC
Supported
Supported
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Forex, Metals, Indices, Energies etc.
200$/£/€/
1:1000
as low as 0.0
20.00
Floating
0.01
--
1.44
Suspicious Clone
No guarantee
2-5 years
ASIC,FCA,CBI,MAS
Not supported
Not supported
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Score
Regulatory Status
Suspicious Clone
Suspicious Clone

GKFX Prime 、 Interactive Brokers BrokerRelevant information

GKFX Prime 、 Interactive Brokers BrokerRelevant exposure

Which broker is more reliable?

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 gkfx-prime, interactive-brokers 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:

Forex broker introduction

gkfx-prime
GKFX Prime Review Summary in 10 Points
Founded2012
HeadquartersUK
RegulationFSC
Market InstrumentsForex, Commodities, Indices, Stocks, Cryptocurrency
Demo AccountAvailable
Leverage1:400
EUR/USD Spread1.8 pips
Trading PlatformsMT4, MT5
Minimum deposit$0
Customer Support24/5 Live chat, phone, email

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.

GKFX Prime's website

Pros & Cons

ProsCons
• 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

Is GKFX Prime Safe or Scam?

As GKFX Prime is an unregulated broker, its reliability may be a concern for some traders.

Heres the revised table without the last column:

Regulatory AuthorityClaimed License TypeJurisdictionStatus
MFSA (Malta Financial Services Authority)Market Making (MM)MaltaSuspicious Clone
BaFin (Federal Financial Supervisory Authority)Retail Forex LicenseGermanySuspicious Clone
FSC (Financial Services Commission)Retail Forex LicenseUnspecifiedSuspicious Clone
CNMV (National Securities Market Commission)Retail Forex LicenseSpainSuspicious Clone
CNB (Czech National Bank)Retail Forex LicenseCzech RepublicSuspicious Clone
SERC (Securities and Exchange Regulator of Cambodia)General Financial LicenseCambodiaSuspicious Clone

Notes:

  • The “Suspicious Clone” status indicates that the claimed licenses might not be authentic and could be falsified.
  • Traders are strongly advised to independently verify these claims with the respective regulatory authorities.

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.

asset classes

Account Types

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.

Account Types

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:

BrokerEUR/USD SpreadCommission
GKFX Prime1.8 pipsNo (except for ECN Zero account)
IC Markets0.1 pips$7 per standard lot
Admiral Markets0.5 pipsNo (except for Zero.MT4)
FxPro1.4 pipsNo
Pepperstone0.16 pipsNo (except for Razor account)
XM0.8 pipsNo

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.

MT4 VS MT5

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.

payment methods

GKFX Prime minimum deposit vs other brokers

GKFX PrimeMost other
Minimum Deposit0$100

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:

BrokerDeposit FeeWithdrawal FeeInactivity Fee
GKFX PrimeFreeFreeNo
IC MarketsFree$0-$20 depending on methodAUD$10 per month after 6 months of inactivity
Admiral MarketsFreeFree€10 per month after 24 months of inactivity
FxProFreeFree$5 per month after 12 months of inactivity
PepperstoneFreeFreeAUD$15 per month after 12 months of inactivity
XMFree (may vary depending on method and country)Free (may vary depending on method and country)$5 per month after 90 days of inactivity

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.

Customer Service

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.

ProsCons
• 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

Frequently Asked Questions (FAQs)

Q 1:Is GKFX Prime regulated?
A 1:No,its current status is suspicious clone.
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.
interactive-brokers
Aspect Information
Company Name Interactive Brokers
Registered Country/Area United States
Founded year 1978
Regulation Suspicious Clone under ASIC, FCA, CBI, MAS
Market Instruments Stocks, ETFs, forex, bonds, options, futures, CFDs, cryptocurrencies, warrants, structured products
Minimum Deposit $0
Customer Support Social media (Twitter, Facebook, Instagram, YouTube, LinkedIn)

Overview of Interactive Brokers

Interactive Brokers, founded in the United States, offers a wide array of trading assets including stocks, ETFs, forex, bonds, options, and futures, providing traders with various opportunities across global markets.

However, risks have been raised about its legitimacy, with reports of the platform being identified as a suspicious clone. Traders are directly impacted by the platform's regulatory status, influencing oversight, transparency, and legal protections. Adherence to regulatory standards instills confidence among traders regarding the platform's reliability and security, while any suspicion or regulatory ambiguity may undermine trust and deter participation, emphasizing the importance of due diligence.

Overview of Interactive Brokers

Is Interactive Brokers legit or a scam?

Interactive Brokers is identified as Suspicious Clone under various regulatory bodies such as the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA) in the United Kingdom, the Central Bank of Ireland (CBI), and the Monetary Authority of Singapore (MAS).

However, the presence of “Suspicious Clone” designations in some regions suggests potential regulatory risks. Traders on the platform are directly impacted by the regulatory status, as it influences the level of oversight, transparency, and legal protections afforded to their investments.

Adherence to regulatory standards instills confidence among traders regarding the platform's reliability and security, while any suspicion or regulatory ambiguity may undermine trust and deter participation. Thus, traders are likely to favor jurisdictions where Interactive Brokers maintains clear and reputable regulatory standing, ensuring a safer trading environment.

Is Interactive Brokers legit or a scam?
Is Interactive Brokers legit or a scam?
Is Interactive Brokers legit or a scam?
Is Interactive Brokers legit or a scam?

What are Clone Brokers?

The prevalence of clone brokers is increasingly alarming, as deceptive entities exploit the names of reputable firms to lure unsuspecting clients into believing they are trading with regulated forex firms.

These fraudulent companies go to great lengths, even utilizing the license numbers of legitimate brokers, to deceive traders into opening accounts with them. Remaining vigilant is paramount to avoid falling prey to such scams. Additionally, these unscrupulous entities resort to aggressive tactics, akin to boiler room operations, pressuring clients into opening accounts or increasing their deposits.

It's crucial to heed the adage: if something sounds too good to be true, it likely is. Traders must exercise caution and conduct thorough research before engaging with any brokerage firm to safeguard their investments and financial security.

Pros and Cons

Pros Cons
Wide range of tradable assets Identify as Suspicious Clone
Access to global markets Limited customer support options
Potential for technical glitches
Risk of exposure to scams

Pros:

  • Wide range of tradable assets: Interactive Brokers offers an extensive selection of tradable assets, including stocks, ETFs, forex, bonds, options, and futures. This diversity provides traders with ample opportunities to diversify their portfolios and explore various investment strategies, catering to different risk appetites and objectives.

  • Access to global markets: The platform grants users access to a broad range of global markets, enabling them to trade securities and currencies from around the world. This global reach allows traders to capitalize on international market trends, economic developments, and geopolitical events, enhancing their trading flexibility and potential for profit.

Cons:

  • Identified as Suspicious Clone: Some users have reported instances where Interactive Brokers was identified as a suspicious clone, potentially raising risks about the platform's legitimacy and trustworthiness. Such allegations can undermine user confidence and deter participation in trading activities.

  • Limited customer support options: Interactive Brokers may offer limited options for customer support, which can lead to delays in addressing user inquiries, resolving issues, or providing assistance when needed. This lack of robust support channels may frustrate users and hinder their overall trading experience.

  • Potential for technical glitches: Like any online platform, Interactive Brokers is susceptible to technical glitches or system failures, which can disrupt trading activities, cause delays in order execution, or lead to inaccuracies in account information. These technical issues may impede users' ability to trade effectively and impact their overall experience on the platform.

  • Risk of exposure to scams: Users may face the risk of exposure to scams or fraudulent activities associated with Interactive Brokers, such as clone brokers attempting to deceive traders. Falling victim to such schemes can result in financial losses and damage to one's reputation, highlighting the importance of vigilance and due diligence when engaging with the platform.

Market Instruments

Interactive Brokers offers a wide range of tradable financial instruments on its platform.

Traders can access a variety of assets including Stocks, ETFs, Forex, Funds, Bonds, Options, Futures, CFDs, Cryptocurrencies, Warrants, and Structured Products.

This extensive selection provides traders with opportunities to diversify their investment portfolios and pursue different trading strategies across global markets.

With access to such a broad array of instruments, traders have the flexibility to capitalize on market opportunities and manage risk effectively.

Deposit & Withdrawal

Interactive Brokers offers a variety of payment methods to fund your account:

  • Bank wire transfer: This is the most common and preferred method. It's free for most currencies.

  • ACH transfer: This is another electronic transfer option available for US accounts. It's also free.

  • Check: You can mail a check to Interactive Brokers. However, there may be processing fees and delays associated with this method.

  • Wire transfer from another brokerage: You can transfer funds from another brokerage account to your Interactive Brokers account. This may be subject to fees from both brokers.

  • Bill pay: This option is available for US accounts only. It allows you to pay your Interactive Brokers account from your bank's online bill pay service.

  • Third-party deposits: Interactive Brokers generally discourages and rejects third-party deposits due to potential fraud and money laundering risks.

There is no minimum deposit required to open an Interactive Brokers account. This makes it a good option for beginners who want to start with a small amount of money.

Customer Support

Interactive Brokers provides the following contact information for customer support:

  1. Twitter: @IBKR

  2. Facebook: Interactive Brokers

  3. Instagram: Interactive Brokers

  4. YouTube: Interactive Brokers

  5. LinkedIn: Interactive Brokers

These social media platforms serve as channels for reaching out to Interactive Brokers for support and assistance. However, Interactive Brokers' customer support lacks efficiency and responsiveness. Traders often encounter significant delays in receiving assistance, with support tickets remaining unresolved for extended periods. Communication channels such as Twitter, Facebook, Instagram, YouTube, and LinkedIn are available, but their effectiveness in addressing customer risks is questionable.

Customer Support

Exposure

Users have reported a single instance of exposure related to a pyramid scheme complaint, which unveiled a potential scam on the Interactive Brokers platform.

The complaint alleges that the platform induced clients to participate in activities, promising withdrawal options upon event completion. However, upon attempting to withdraw profits, users encountered obstacles, including unexpected tax requirements not deducted from the platform. The inability to access funds and unresponsive customer service exacerbates the situation for affected users. Such exposure to fraudulent activities undermines trust and confidence in the platform, potentially dissuading traders from engaging in further transactions.

Exposure

Conclusion

This instance of Interactive Brokers is suspected to be a clone operated by a company known as Interactive Brokers Group, Inc. Notably, this particular iteration of Interactive Brokers lacks regulation, posing potential risks for traders. Therefore, it is advisable for traders to refrain from engaging with this broker.

Are the transaction costs and expenses of gkfx-prime, interactive-brokers lower?

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 gkfx-prime and interactive-brokers are, we first considered common fees for standard accounts. On gkfx-prime, the average spread for the EUR/USD currency pair is as low as 0.0 pips, while on interactive-brokers the spread is --.

Which broker between gkfx-prime, interactive-brokers is safer?

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.

gkfx-prime is regulated by MFSA,BaFin,FSC,CNMV,CNB,CNMV,SERC. interactive-brokers is regulated by ASIC,FCA,CBI,MAS.

Which broker between gkfx-prime, interactive-brokers provides better trading platform?

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.

gkfx-prime provides trading platform including ECN 0,STANDARD,VIP and trading variety including Forex, Metals, Indices, Energies etc.. interactive-brokers provides trading platform including -- and trading variety including --.

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