Formerly known as SmartLiveMarkets.co.uk
GKFX is an online forex broker. GKFX offers the MetaTrader 4 and MT Mobile forex trading top platforms. GKFX.com offers over 30 currency pairs, cfds, and commodities for your personal investment and trading options.
Join live discussion of GKFX.com (SmartLiveMarkets.co.uk) on our forumGo to forums
- Not guilty0
|Case ID||Filed||Case name||Verdict|
|2017-047||2017-05-14||collin1 vs gkfx.co.uk||guilty|
Your company video here? Contact ad sales
GKFX scams me by illegaly confiscating my bonus
Issue escalated to Traders Court collin1 vs gkfx.co.uk | GUILTY
I have used gkfx for quite a while. actually back a few years ago i lost a lot of money trading eur/aud around -40k loss. I was quite shocked but okay perhaps it was my fault.
but recently they held a promotion for a £15000 deposit bonus with a requirement of £2 spreadbet for every £3 bonus. i fulfilled the terms of the bonus and did the trades. They then converted the bonus into cash. a few weeks later when i needed a withdrawal they suddenly confiscated my bonus funds saying my trades were not at peak times with enough risk for them so they have a right to confiscate my bonus. I was shocked that a large forex broker could fathom doing this which is totally illegal.
I therefore have no other option but to leave a negative feedback. If anyone needs more details please pm me and if the nature of the question is nothing personnel i can provide a response.
FINALY GOT MY MONEY AFTER SWEATING FOR WEEKS
After dragging and digging to hell and back i got my money today,Thank GOD,now i will never EVER E EVER come close to anything GK,before the FX comes in am OUT.BEWARE NOT TO PASS THROUGH MY EXPERIENCE just to get my own money was hell.If you like suffering to trade and suffering again to get your money then go ahead and join this broker..Its your choice.
Sep 22, 2016 - 1 Star Be advised DO NOT TRADE WITH THIS BROKER.They are totally unreliable,they don't pick calls or reply emails soon as you deposit THEN you will grind your teeth to get your withdrawal.it takes weeks to get your withdrawal if you ever you do, i have not been paid my rebates for months,my withdrawals took weeks to get before i ran away from them but yet they seized some of my money yet to be withdrawn now going into the 3rd month.when i send emails i get no reply,their customer support is never online,they are rude when they do come online..which is once in a 'GREEN' moon.i can go on and on about this Scammers..but like they say a word is enough for the wise,stay away from this broker,there are other better brokers out there.This broker will frustrate you.KEEP AWAY FROM THIS SCAM BROKER.
Aug 18, 2016 - 1 Star Nothing but thiefs and scams beware of this broker.i will only tell you if you doubt my worst experience including that of others i know then go ahead and risk your money and deposit and when its time to withdraw you will wish you took my advice.,KEEP OFF.
BIG SCAM BROKER
WORST I HAVE EVER SEEN.
Hi, my experience with GKFX is worst than hell.. crooks are the least.. no sincere, bad price, increasing spreads how they want due to "lack of liquidity".. haha , system freezes.. stop hunting.. all tricks were used.. If somebody has made some claim and could recover his money, please PM. Thanks.
Not ask LEI code as standard EMIR.
You do not pay commissions to their IB's and does not know say that day are paid.
Signing contracts and lost along the way.
It has cuts in contributions without news hour, without explanation.
that's the way broker should act
i made mistake by opening order and they reply:
Thank you for your email.
We have investigated your order #18062392 on account number: ****** on 15.10.2015 at 06.52 EET and 07:00 EET (Platform Time) on the USDTRY pair.
Please note that during night hours the spread is widened and the prices which your order was opened and executed at were correct.
However, since analysing the volumes you have placed on your trade account we have decided that as a one off a gesture of goodwill we will credit your account with the loss you made on order #18062392 to the sum of $-294.34.
We will apply the funds to your account shortly. However, please acknowledge that this does not state any wrong-doing from our side.
Should you require any further assistance, please do not hesitate to contact us.
Client Service Associate
I have traded for about 10 years and started using gkfx as they have a 10p pip option and i wanted to try out a few strategies i creatred.Firstly never ever try an automated EA with them as the quote will always come back invalid price.Secondly never trade ex divi shares with them as when they owe you money you have to chase it then get told to email it .Which they never reply to then they say they are sorting it but when you question them about why you are chasing it they state that you are rude and threatening which i am never.They keep all the divis as long as possible to earn interest and if you sell on a pre divi date they immediately take the divi off you.
It seems that the so call slippage is a rule to their own.I queried a spike on a chart a few weeks ago that no other broker had the market did not go there but if trading would of took you out and then you would have to chase them up again.
Rude unfair and out of all the brokers i have used the worst in the uk.CAPITAL SPREADS are the complete opposite sort the problems if you ever get any there and then over the phone something which GKFX never do
I have been working with GKFX for 1 year, Its a great Experience.
They have very Low spreads (1.5 on euro/usd ).
They respond quickly; the transfer/withdrawals are made immediately by credit Card, and without any charges.
I hardly recommend GKFX !!!
Review Moderation Team Note: Carol posted this from the same location that a GFFX employee used to contact the FPA.
Per FPA policy, the rating on this review has been set to Zero stars.
All electronic trading platforms occasionally suffer from a glitch. This may be a price freeze or an incorrect price which could be to the benefit or detriment of a client. If someone deliberately and consistently tries to take advantage of such an occurrence then I am afraid this will not be tolerated and they will be warned or their account will be closed.
We are in business to help people trade on volatile markets by providing tight spreads and liquidity 24 hours a day, not so that a small minority can attempt to ruin that for the majority.
If we experience a problem with a price feed, then where appropriate we may invoke a Manifest Error and cancel that trade, whether it is a profitable or losing trade.
Some people do not like it when they get found out.
In an ideal world problems would never happen, but sadly they do. We are fully FCA regulated and would only ever invoke a Manifest Error when appropriate to do so and without discrimination, all of which we are answerable to the FCA for.
GKFX feed me with a price that doesn't exist but it explained as slippage. and saying that prices on MT4 is only indicative while it may not be actual pricing in the market.
And they want to close my account after I complained.
Can someone teach me how to upload a screenshot so that I can show the evidence fake quote.
This is the mail I received when I asked them about large gaps..
Please be aware that we do not accept scalping.
Scalping can apply to any online quoted financial market. Traditionally it primarily refers to the Foreign Exchange market due to its size, liquidity and tight spreads.
It is when a trader, often using high leverage, attempts to take advantage of a price discrepancy or anomaly in market in an extremely short period of time, typically a few seconds.
Often this price anomaly may be caused by latent prices which is where, due to the complexity of transmitting prices online around the world, delays in updates occur, which although small, can still be exploited.