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GKFX vs UFX 2022

BrokerNotes.co

Written by BrokerNotes.co

Last updated August 30, 2022
Published April 26, 2022

Trying to decide between GKFX and UFX? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, GKFX ranks more highly than UFX.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall Rating expand_moreexpand_less GKFX UFX FOREX.com
Overall Rating 7 / 10 6.5 / 10 8.7 / 10
Account Type expand_moreexpand_less GKFX UFX FOREX.com
Standard Account Yes Yes Yes
Mini Account Yes Yes Yes
Micro Account Yes Yes Yes
Islamic Account Yes Yes Yes
Copy Trading expand_moreexpand_less GKFX UFX FOREX.com
Social Trading / Copy Trading Yes Yes No
DupliTrade No No No
ZuluTrade No No No
Cryptocurrency expand_moreexpand_less GKFX UFX FOREX.com
Cryptocurrency (Physical) No No No
Cryptocurrency (CFD) Yes Yes Yes
Bitcoin Yes Yes Yes
ethereum Yes Yes Yes
Forex Trading (Spot or CFDs) expand_moreexpand_less GKFX UFX FOREX.com
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Indices (Index CFDs) expand_moreexpand_less GKFX UFX FOREX.com
DAX Yes Yes Yes
Dow Jones Yes Yes Yes
FTSE Yes Yes Yes
NASDAQ 100 Yes Yes Yes
Nikkei Yes Yes Yes
SP 500 Yes Yes Yes
Investments expand_moreexpand_less GKFX UFX FOREX.com
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Spread Betting No No No
Social Trading / Copy Trading Yes Yes No
Metals Yes Yes Yes
Energies Yes Yes Yes
Agriculturals No No Yes
ETF No Yes Yes
U.S. Stocks (CFD) Yes Yes Yes
Trading Platforms expand_moreexpand_less GKFX UFX FOREX.com
Apple iOS App Yes Yes Yes
Android App Yes Yes Yes
Proprietary Platform No Yes Yes
Desktop Platform (Windows) Yes Yes Yes
Web Platform Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes Yes
MetaTrader 5 (MT5) Yes Yes Yes
Regulatory Licenses expand_moreexpand_less GKFX UFX FOREX.com
Tier-1 Licenses 0 0 4
ASIC Authorised (Australia) No No No
IIROC Authorised (Canada) No No Yes
FCA Authorised (U.K.) No No Yes
SFC Authorised (Hong Kong) No No No
MAS Authorised (Singapore) No No No
FINMA Authorised (Switzerland) No No No
CFTC Registered (USA) No No Yes
Tier-2 Licenses 1 1 2
Tier-3 Licenses 0 0 1
Research, Education expand_moreexpand_less GKFX UFX FOREX.com
Trading Central (Recognia) Yes Yes Yes
Forex News (Top-Tier Sources) No Yes Yes
Daily Market Commentary Yes No Yes
Autochartist Yes No No
Investor Dictionary (Glossary) Yes No Yes
Videos - Beginner Trading Videos Yes No Yes
Client Webinars (Archived) Yes No No
Trading Costs expand_moreexpand_less GKFX UFX FOREX.com
Minimum Initial Deposit $0 $100 $100
Average Spread EUR/USD - Standard N/A 3 (Jan 2021) 1.1 (US August 2021)
All-in Cost EUR/USD - Active N/A 2 (Jan 2021) 1.1 (US August 2021)
Active Trader or VIP Discounts No Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes Yes
PayPal (Deposit/Withdraw) No No Yes
Trading Tools expand_moreexpand_less GKFX UFX FOREX.com
Watchlists - Total Fields 7 7 18
Mobile Watchlist Yes Yes Yes
Charting - Indicators / Studies (Total) 30 116 139
Mobile Charting - Indicators / Studies 30 30 88
Trust Factors expand_moreexpand_less GKFX UFX FOREX.com
Year Founded 2013 2011 1999
Publicly Traded (Listed) No No Yes
Bank No No No
Authorised in European Union Yes Yes Yes
Trust Score 66 67 99
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GKFX vs UFX Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare GKFX vs UFX.

Can I trust GKFX?

GKFX has a trust score of 66, giving it a "High Risk" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust UFX?

UFX has a trust score of 67, giving it a "High Risk" trust label.

Is GKFX a good broker?

Is UFX a good broker?

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. unfortunately, neither GKFX nor UFX are ASIC Authorised (Australia), IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland), FCA Authorised (U.K.) and CFTC Registered (USA)., neither have CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, GKFX is none, while UFX is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither GKFX nor UFX are SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu)., neither have VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms GKFX supports a Desktop Platform (Windows), whereas UFX supports a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does GKFX offer MetaTrader? Does UFX offer MetaTrader?

Both GKFX and UFX offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

How do GKFX and UFX differ in terms of minimum deposit? What about average spreads and funding options?

GKFX requires a minimum deposit of $0, while UFX requires a minimum deposit of $100. From our testing we found GKFX offers spreads of N/A, while UFX offers spreads of 3 (Jan 2021). GKFX supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) for popular funding options, where UFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)., neither have PayPal (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, GKFX or UFX?

GKFX offers a more diverse selection of investment options than UFX allowing you to trade Forex Trading, Trading - Forex or CFDs, Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD)., neither have Spread Betting and Agriculturals Looking at total tradeable symbols, GKFX has 354, compared to 619 from UFX.

Can I trade cryptocurrency with GKFX or UFX?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither GKFX nor UFX allow you to trade physical cryptocurrencies.

Who offers more research tools, GKFX or UFX?

In terms of research and research tools GKFX gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Trading Central (Recognia) and Social Trading / Copy Trading. In comparison UFX has the tools listed here: Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.




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