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Do you want to know which is the better broker between GKFX Prime and ZFX ?
In the table below, you can compare the features of GKFX Prime , ZFX side by side to determine the best fit for your needs.
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EURUSD:-28.4
EURUSD:-0.8
EURUSD:13.42
XAUUSD:32.79
EURUSD: -6.23 ~ 2.32
XAUUSD: -33.47 ~ 15.94
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, zfx 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:
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.
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 |
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 Authority | Claimed License Type | Jurisdiction | Status |
---|---|---|---|
MFSA (Malta Financial Services Authority) | Market Making (MM) | Malta | Suspicious Clone |
BaFin (Federal Financial Supervisory Authority) | Retail Forex License | Germany | Suspicious Clone |
FSC (Financial Services Commission) | Retail Forex License | Unspecified | Suspicious Clone |
CNMV (National Securities Market Commission) | Retail Forex License | Spain | Suspicious Clone |
CNB (Czech National Bank) | Retail Forex License | Czech Republic | Suspicious Clone |
SERC (Securities and Exchange Regulator of Cambodia) | General Financial License | Cambodia | Suspicious Clone |
Notes:
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.
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 |
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.
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.
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 |
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 |
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. |
Company Name | ZFX |
Registered Country/Region | London, UK |
Founded in | 2010 |
Regulation | FCA, FSA (Offshore) |
Tradable Assets | Forex, stocks, indices, commodities, cryptocurrencies |
Demo Account | Available |
Max. Leverage | 1:2000 |
Spread | From 1.3 pips (Standard account) |
Trading Platforms | ZFX mobile app, MT4 Web Trader, MT4 for Windows, Mac and Android & ios |
Minimum Deposit | $50 |
Customer Support | Mon - Fri: 24 hours, Sat - Sun: 07:30 AM to the next day 02:00 A |
Online chat, contact form | |
Phone: 400-8424-611 | |
Email: cs@zfx.com | |
Social media: Facebook, Instagram, LinkedIn, Twitter | |
Regional Restrictions | Residents of the United States of America, Brazil, Canada, Egypt, Iran, North Korea (Democratic People's Republic of Korea), and EU countries are not allowed. |
Zeal Group of Companies, often referred to collectively as the Zeal Group, is a conglomerate of fintech corporations and regulated financial institutions that trade under the name ZFX. The group specializes in providing liquidity solutions for various types of assets in regulated markets and is backed by exclusive technology. Furthermore, the Zeal Group operates globally, combining with their multi-asset specializations and regulatory frameworks, solidifies their position as a competitive player in the financial industry.
ZFX is a broker that offers several advantages and disadvantages to traders.
Pros | Cons |
• Regulated by the FCA | • No MT5 platform available |
• Multiple account types available | • No Islamic account option for Muslim traders |
• Demo accounts available | • Lack of info on deposits and withdrawals |
• Low minimum deposit requirement for the Mini Trading Account | • Regional restrictions |
• Wide range of funding options | |
• MT4 and proprietary trading platform supported | |
• Copy trading available | |
• Multi-channel support |
On the positive side, ZFX is a regulated broker, providing traders with demo accounts option, which is beneficial for beginner traders who want to practice their trading strategies before trading with real money. In addition, ZFX offers competitive trading conditions and low minimum deposit requirement through the popular MetaTrader4 trading platform.
On the negative side, no MT5 platform and no Islamic account option for Muslim traders. And ZFX doesn't reveal any info on deposits and withdrawals. Additionally, the broker does not provide services for residents of certain countries such as the United States of America, Brazil, Canada, Egypt, Iran, North Korea (Democratic People's Republic of Korea), and EU countries.
ZFX is a regulated broker. Its company name is Zeal Capital Market (UK) Limited, and it is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom under the registration No. 768451. The FCA is one of the most reputable regulatory bodies in the world, and its strict regulations ensure that ZFX adheres to high standards of transparency and fairness.
ZFX's other entity, Zeal Capital Market (Seychelles) Limited, is authorized and offshore regulated by the Seychelles Financial Services Authority (FSA) under regulatory license number: SD027.
Additionally, ZFX ensures the safety of its clients' funds by keeping them fully segregated in a designated client bank account. This means that the clients' funds are kept separate from ZFX's operating funds. In the event that the company faces financial difficulties or becomes insolvent, the funds in these client accounts cannot be used to meet the liabilities of the company. This measure provides an added layer of security for ZFX clients, ensuring their capital cannot be used for any other purposes aside from their trading activities.
ZFX provides a comprehensive range of market instruments, catering to diverse trading preferences and strategies. This includes major asset classes such as forex, where traders can engage in currency trading across major, minor, and exotic pairs. For those interested in the stock market, ZFX offers the ability to trade stocks from leading global companies, allowing traders to tap into corporate performance and stock market trends.
Additionally, ZFX includes indices trading, which aggregates the performance of a number of stocks representing a segment of the stock market, providing a broader market exposure. Commodities are also available, offering opportunities to trade in essential goods such as oil and gold, which are often used as hedge investments against inflation or currency devaluation.
Furthermore, ZFX has embraced the growing interest in digital currencies by including cryptocurrencies in their offerings, thus allowing traders to speculate on the highly volatile crypto markets. Overall, ZFX's diverse selection of trading instruments ensures that traders have ample opportunities to diversify their portfolios and explore various market dynamics.
Apart from demo accounts, ZFX offers three types of trading accounts, namely Mini Trading, Standard Trading, and ECN Trading accounts. Each account has its own unique features and advantages, catering to different levels of traders with varying trading styles and preferences.
Account Type | Minimum Deposit |
Mini | $50 |
Standard STP | $200 |
ECN | $1000 |
Pros | Cons |
• Variety of account types to choose from | • Limited features in the Mini account |
• Low minimum deposit requirement for the Mini account | • High minimum deposit requirement for the ECN account |
• Access to high leverage for all account types | • No Islamic account option available |
Opening an account with ZFX is a simple and straightforward process that can be completed in just a few steps.
The maximum leverage offered by ZFX is up to 1:2000 and the leverage amount may vary depending on the account type and trading instrument. Additionally, ZFX operates on a tiered margin system, where the leverage is determined based on account equity. For accounts with equity between $0 and $3,000, the maximum leverage is 1:2000. For equity between $3,001 and $10,000, the maximum leverage is 1:1000. More detailed info on leverage can be found in the screenshot below:
ZFX says it offers competitive spreads and commissions on its trading instruments.
Account Type | Spreads | Commissions |
Mini Trading | From 1.5 pips | N/A |
Standard Trading | From 1.3 pips | |
ECN Trading | From 0.2 pips |
For the Mini Trading account, the minimum spread for forex pairs is 1.5 pips. The Standard Trading account has a minimum spread of 1.3 pips for forex pairs. The ECN Trading account has a minimum spread of 0.2 pips for forex pairs. However, no specific info on commissions is revealed openly.
ZFX offers the popular trading platform MetaTrader 4 (MT4), which is widely recognized in the forex industry for its user-friendly interface and advanced trading tools. MT4 provides access to various order types, technical analysis tools, and customization options, making it suitable for both novice and experienced traders. In addition, ZFX offers mobile versions of the MT4 platform for both iOS and Android devices, enabling traders to access the markets from anywhere, at any time.
ZFX also provides a mobile application for its clients, ensuring they can trade on the go. This ZFX Mobile App offers access to all the major features of the trading platform and enables clients to manage their portfolio, place trades, and monitor the markets from their mobile device.
The mobile app can be a valuable tool for traders who need the flexibility to trade anywhere and anytime, while still having access to key functionalities of the platform. Before using the app, make sure it is downloaded from an official source like the App Store or Google Play to ensure security and authenticity.
ZFX offers a Copy Trade feature, which is great news for both beginner and busy traders. Copy trading, also known as social trading, allows traders to automatically copy the trades of experienced and successful traders. This can help beginners to learn trading strategies from experienced traders, and help busy traders to automate their trading. By using the Copy Trade feature, you can potentially increase your chances of making profitable trades.
ZFX is committed to providing an extensive educational framework to support both novice and experienced traders through their A-to-Z Academy, which offers comprehensive learning resources designed to master trading from the basics to advanced strategies. This initiative underscores ZFX's dedication to empowering its clients with the knowledge needed to navigate the financial markets confidently.
Additionally, ZFX enhances trader support with a 24/7 Help Center, serving as a constant trading support hub where traders can obtain assistance at any time.
The platform also features a detailed Glossary, which acts as a valuable dictionary for demystifying complex trading terminology, making the trading language more accessible to everyone.
Moreover, their FAQ section addresses common queries related to trading mechanics, account management, funding procedures, withdrawals, and specific product details.
Collectively, these educational resources equip ZFX traders with a solid foundation of knowledge and continuous support, facilitating a well-rounded and informed trading experience.
ZFX provides robust customer support with extensive availability and multiple communication channels to ensure that traders can receive assistance whenever needed. Operating hours extend throughout the week, with round-the-clock support from Monday to Friday and extended hours over the weekend from 07:30 AM to 02:00 AM the next day, accommodating traders across different time zones.
Traders can reach out via online chat for immediate responses, use the contact form for less urgent inquiries, or call directly through the phone number 400-8424-611 for personalized assistance. Additionally, ZFX can be contacted through email at cs@zfx.com for comprehensive support.
The broker also maintains a strong presence on several social media platforms including Facebook, Instagram, LinkedIn, and Twitter. This multi-faceted approach ensures that ZFX's clients receive timely and effective support, enhancing their trading experience.
Overall, ZFX is a reputable option for traders looking to access the financial markets. The broker's maximum trading leverage of 1:2000, based on account equity, is one of the highest in the industry and can provide traders with significant opportunities for profit. Additionally, competitive spreads and a choice of popular MT4 trading platforms further strengthen ZFX's position as a reliable broker.
Is ZFX regulated? |
Yes. It is regulated by FCA and FSA (Offshore). |
At ZFX, are there any regional restrictions for traders? |
Yes. It does not provide services for residents of certain countries such as the United States of America, Canada, Egypt, Iran and North Korea (Democratic People's Republic of Korea). |
Does ZFX demo accounts? |
Yes. |
Does ZFX offer industry leading MT4 & MT5? |
Yes. It supports MT4 and ZFX Mobile App. |
What is the minimum deposit for ZFX? |
$50 for the Mini Trading account, while higher for other account types. |
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 zfx 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 zfx the spread is From 0.2.
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. zfx is regulated by FCA,FSA.
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.. zfx provides trading platform including ECN,Standard STP,Mini and trading variety including --.