GKFX.com Review

2.309 · 42 REVIEWS
Updated: Oct 2, 2020 · Visit site  · Is this your company?

GKFX is an online forex broker. GKFX offers the MetaTrader 4 and MT Mobile forex trading top platforms. GKFX.com offers over 45 currency pairs, cfds, and commodities for your personal investment and trading options.

GKFX.com
There is an FPA Traders Court guilty vote against this company.  The FPA recommends caution dealing with GKFX unless this issue can be resolved.

Other websites of this company include GKFXPrime.com, GKInvest.co.id, GKFX.eu, GKFXCambodia.com, GKFX.ru, GKFXENC.com/en/, CNGKFXPrime.com.

Formerly known as SmartLiveMarkets.co.uk

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 30:1
Minimum to Open Live: $1
Established: 2010
Address: Bevis Marks House, 24 Bevis Marks, London, EC3A 7JB, United Kingdom
Contact: support@gkfx.com, 0044(0)2071861212
Regional offices:
Regulators: CNB #256-2004, AMF #, BaFIN #130602, CONSOB #2915, FSA #, AFM #, CMNV #71, FI #556873-1326, DMCC #32142, FCA #501320
Prohibited countries: Unknown
Trading platforms: MT4, Sirix
Currencies: (50+)
Cryptocurrencies: (5+)
CFD: (310+)
PAMM: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Bitcoin, Qiwi, Skrill, WebMoney
Withdrawal Methods: VISA, MasterCard, Neteller, Qiwi, Skrill, WebMoney, Yandex Money

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2.309 · 42 REVIEWS
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Traders Reviews

shoot2scoot,
UK,
Aug 18, 2011,
Guest

SLM are changing their name. We can only hope that they are turning a new leaf too. Here is the message they sent:

Dear Client,
I am writing to inform you that Smart Live Financial Services Ltd will be changing its name in the coming weeks to GKFX Financial Services Ltd.
Our FSA and companies house registration numbers will remain the same.

The reason for this change is cosmetic.
As we have grown globally as a company it has been apparent that some people have been confused by our name, so we have chosen a more generic name which as a brand going forward will be far more easily recognised throughout the world.

We will also be rebranding our logo and website along with this change. But apart from that you will not notice any changes.

Your account with us will automatically change to an account with GKFX Financial Services Ltd with the same terms of business.

We anticipate this change will happen on September 5th 2011.

If you have any questions then please do get in touch with our customer services desk at support@smartlivemarkets.com.

Regards
SLM

 
GKFX,
London, United Kingdom,
Jun 18, 2012,
Guest

Hello
I guess the old adage that you cannot please all of the people all of the time is as true today as it has always been. The gentleman below has an interesting grasp of the facts.

Firstly I am not the owner of GKFX and I most certainly never gave him that impression.

Secondly we had a very pleasant exchange of emails which were far from being rude.

Calling someone an ‘idiot’ because they politely get in contact with you to discus scalping is somewhat rich. Placing a trade on a latent price and then hedging it practically immediately by placing a trade the other way around (and closing them both later) is scalping whatever way you wish to dress it up…. or try to hide it.

We have some of the tightest fixed spreads available on MT4 in the world, and we have not done so to be taken advantage of. We have thousands of active clients who think the service we provide is fantastic, but that is because they are traders not scalpers.

If someone requests their funds they are usually returned in 3 days, as that is how the banking system works, no matter who they are.

As I said to this gentleman, in one of our friendly emails, we are delighted when clients make money, as long as it is legitimately. In fact one of our clients has recently made so much money he opened his own bar, and I was delighted to go to his opening night.

Regards, Paul (GKFX)
 
GKFX Compliance Dept,
London, United Kingdom,
Dec 2, 2014,
Guest


Hello
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.
Regards
GKFX
 
Johan FX,
Breda, Netherlands,
Jun 19, 2012,
Guest

I have an account @ GKFX since 2 weeks and i cant complain about anything. The services they provide is very good, especially for dutch people since they open a branch in amsterdam.

The spreads are good compared with other brokers over here. No problems with slippage, what i am reading below...maybe everything is going better these days :D

So at this moment i can only be positive haha :D

regards,

satisfied customer!!
 
Mahmoud,
Dubai, United Arab Emirates,
Jul 16, 2013,
Guest

one of the best brokers , fast execution and fantastic customer services

Review Moderation Team Note: Mahmoud 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.
 
United Kingdom,
May 13, 2017,
Registered user

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.

kind regards
 
Carole,
Dubai, United Arab Emirates,
Feb 4, 2015,
Guest

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.
 
Ron X,
Israel, Israel,
Apr 15, 2012,
Guest

I am remaining anonymous as I still have an account with them and don't plan on closing it just yet. I have been trading with them for a while now and agree with nearly everything written below. I have tried them only in some very specific cases where I knew their would be trouble but wanted to sniff out who I was dealing with.
I now know for sure that they keep their servers in their own office. This was unbelievable to me at first, but basically I work in IT so I did some sniffing around with their IPs and figured out that everything was coming out of a building in central London. I checked further and found that no server farm exists there so I am left to assume that the crashes everyone is reporting is due to a platform sitting on 1 server (no redundancy and no back up).
The good thing about this broker, and their are a number of good things to be honest is their withdrawal policy (no questions - they just send the cash) and the fact that they have Spread Betting on MT4.
They on the other hand do send nasty messages to traders they don't like (scalpers and the like). But they claim to STP all traders and shouldn't care if a customer is a scalper. But they curse them out. Something is definitely off here and it's getting weirder every day. I would certainly warn traders to steer clear. Their are simply better brokers out there. I am staying away from calling them a scam - I don't think they are. I think they are probably just badly managed and have worse infrastructure. Something there isn't right - but they don't seem to be doing everything on purpose. Just reckless I guess. Not sure yet
 
Noltisy,
USA,
Jun 19, 2011,
Guest

Losing connectivity is expected, but the response is what we have an issue with. I expect (although in today's tech market it shouldn't happen) some sort of connectivity issue, but the response and lack of respect they show clients is horrible. I don't expect a lot, but I do expect respect and honesty when dealing with these firms, and this one has shown neither.
 
Nigeria,
Oct 5, 2016,
Registered user

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.
 
John,
Cumbria, United Kingdom,
Feb 15, 2012,
Guest

Slippage, slippage, everywhere.

Platform always crashing.

Servers often down.

Avoid at all costs. Dreadful. Just dreadful.
 
Dionysios,
Greece, Greece,
Nov 2, 2017,
Guest

Terrible, thieves

One of the worst brokers I ever used. Verification took many days, stealing in execution about 1.5 pip per trade... Just terrible
 
United Kingdom,
Mar 16, 2019,
Registered user

Awful broker. Wouldn't let me open an account because apparently 'I'm not suited' to their products.. suited to the products I can trade with every other broker??? made no sense whatsoever. Customer service & compliance was awful. A guy called Aran was the only helpful one, seemed like he should have been running the whole operation to be honest. If I were him I'd look for a different company to work for. Take your money elsewhere like I have.
 
James Norman,
arica, Chile,
Jan 31, 2014,
Guest

Twice my orders were slipped more than 60 pips.
What they call slippage is nothing but an excuse to deduce money from their clients. All limits must be fulfilled, it is very easy to write a program that corrects and changes the OrderOpenPrice() or OrderClosePrice() when they defers from the price set by the user. If they don't do it so is just because they are dishonest , I better say, THIEVES.
 
Podberry,
UK,
May 6, 2011,
Guest

SLM has had a few issues of late with regards to their platform taking over a minute to execute trades, Their customer service is shocking to say the least, the director of trading (Paul) is the main instigator blaming everything else but their platform and server.
 
Tanuj Soni,
Indore, India,
Aug 17, 2014,
Guest

This is the mail I received when I asked them about large gaps..

Hello,

Please be aware that we do not accept scalping.

Scalping Definition
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.

Regards
GKFX
 
Claire Forlani,
Johannesburg, South Africa,
Aug 14, 2012,
Guest

GKFX is a Turkish company. They are ruthless bullies, they manipulate the charts. Their artificial spikes are well known. The regional manager, Serkan Ali does not even know what spikes are. I am sorry there are plenty of these companies around, I would never trust these gangsters with my money again.
 
Jamil Noubani,
Mersin, Turkey,
Nov 27, 2012,
Guest

I've placed a thread on discussion forums describes my case with GKFX , which changed their agreement with me suddenly and took money from my clients account where they were not authorized to do so.

The company is a market maker with a team of lies sellers.
 
Wong,
, Malaysia,
Nov 20, 2014,
Guest

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.
 
cat trader,
spain, Spain,
Apr 12, 2016,
Guest

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.
Summary:
Broker bad!
 
Max,
Belarus, Belarus,
Dec 10, 2012,
Guest

When I first heard about this broker at FF it seemed pretty good with nice spreads. From entering the site problems started.
I got to www.gkfx.com/ENG/ this was Non -regulated Pakistan firm. Ok, little browsing got me to www.gkfx.com/EN this one was UK based with regulation. After submitting long registration form I got an email asking documents for authorization, well ok I did it as in most brokers I registered. After some days I got an email that residents from my country are not registered without explanation. There was a check box while registration that I am non US citizen but NO information about other countries. When asking about gkfx.ru -Russian based firm(where it is possible to register) they told me they have nothing common with this one. Their Live Help is always offline. As the result they got my scanned documents. Guys be aware and dont send your credentials until you get your fx cabinet login and password.
 
anonymous,
, United Kingdom,
May 18, 2015,
Guest

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
 
Spain,
Sep 7, 2016,
Registered user

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.
 
Carl,
Sydney, Australia,
May 30, 2012,
Guest

I joined GKFX and my account was managed by someone who used spread betting hedge strategies. This worked very well and my account grew 60% in 2 weeks. After my first withdrawal I start getting nasty e-mails from the owner, Paul, accusing me of breaching their scalping policies. I scrutinised my statements and informed him that at no time was scalping used on my account, -but positions were hedged and kept open for at least 2 minutes up to a few hours. Poor idiot did not understand the difference between scalping and hedging and my explanation fell on deaf ears...Soon afterwards my profits took a dive as my transactions were riddled with requotes and delays. It is obvious to me that GKFX/Paul set up their platform against me. One positive thing about GKFX is that they respond unbelievably fast if a winning accounts is closed and payout requested. Damn...I had my money in 3 days! I guess Paul was so relieved to get rid of someone who doubled his account in 4 weeks...haha! Just goes to show that some brokers are really not your friends and will pull the strings behind the scenes to prevent you from making a profit against them. Stay away from these type of market movers...especially GKFX. Rather use ECN brokers if your trading style allows.
 
Shoot2scoot,
UK,
May 18, 2011,
Guest

I echo Podberry's experience. SLM's greatest asset is the fact that they are (currently) the only UK Spreadbetting firm that offers the MT4 platform. As so many EA's are built for MT4 they have a significant captive market in the UK.

I have traded for two months with SLM and in the first month their charts froze during a key trading time. This caused me and many others to lose money. I later established that I was the first of many to complain and they offered me a refund provided I didn't mention it to anyone else! I now realise that this was because many, many others were to get nothing!

The mantra since then within SLM is, if you use and EA it's your fault not theirs. Ironic as the only reason most traders come to them in the first place is to use EAs!

In the second month I and 16 others (that I know of) started getting slow execution of orders. Typically 68 seconds late, this lasted 8 days before I left them but I believe it is still an ongoing problem. Again at key trading times, this delay was unacceptable. Also inexcusable considering I was using a very reputable VPS just around the corner from SLM! After many calls during the first problem day I was left in no doubt that I was in a 'them and us' relationship with SLM. I have kept a series of emails from Paul at SLM that were frankly rude and at no point entertained the idea that SLM could possibly be at fault. This despite the fact that many of us were using the same EA at the same time with other brokers without difficulty?

SLM are in total denial of any blame despite overwhelming evidence to the contrary. I have stopped trading with them because of their defensive/aggressive manner to customer services. I have also heard that if you are successful with them they put you into a different pool and work harder to ensure that your wins are limited. I do not however have first hand experience of this. In summary I was left in no doubt that customers are a real inconvenience to Paul at SLM, shame really when he works as Director of Trading!