GKFX are a fast growing Forex broker who have been making a big commercial push recently so there’s a good chance you might have heard of them. They were originally called Smart Live Markets and rebranded to GKFX late last year, supposedly for purely commercial reasons.
The charting package offered is MetaTrader4 and they offer all of the standard options such as live or demo accounts and mobile trading applications for both iPhones and Androids. They also offer all of the usual educational content that most brokers provide their clients with nowadays as well as economic calendars and various other tools like margin calculators.
The unique aspect of GKFX which should be of particular interest to UK based traders is that they also offer spread-betting accounts in addition to their standard Forex brokerage accounts. Despite having been around for a reasonable amount of time now, they’re still at the time of writing the only major spread-betting company to offer MetaTrader4 to their clients so it’s instantly given them a solid niche in the market which helps to explain why they’re growing so fast as a company.
The majority of spread-betting firms use IT-Software based charting packages or packages of their own design that are generally based on Java and run within your browser program. They’re generally OK for day trading and tracking 2-3 markets max but really can’t touch MT4 when it comes to swing trading and trading multiple markets at the same time.
The customer support offered is solid and they have the live chart option available if you have a problem which is handy if you don’t have time to stop and talk to somebody on the phone, alternatively you can arrange for them to call you so either way it’s quite convenient.
When it comes to trading, the all important factors when deciding on a broker are generally the execution speed and the spread, and in particular if you’re day trading. The spreads are pretty competitive all round on GKFX with the only downside being that they offer variable spreads on most markets which means that when you back-test a strategy it’s hard to know exactly how far into profits certain trades would have gone, particularly on the markets that have a large variance in the spread.
The execution speed has never given me any problems but then again as a swing trader it’s not quite so critical for me. My thoughts are that GKFX are a prime choice for swing traders and perhaps not so much for day traders but either way make sure you do your due diligence when considering a brokerage account and don’t forget to take advantage of the sign-up offers!