GKFX Prime Broker Review

Is GKFX Prime Safe?

Yes, GKFX Prime is a safe broker for South African traders to trade with. It maintains regulation from a number of authorities, including the UK’s FCA, the SECC of Cambodia, the FSC of the British Virgin Islands, and the FSA of Malta.

Founded in 2012 and headquartered in the British Virgin Islands, GKFX Prime is regulated by the Financial Services Authority (FSA) of Malta, the Securities and Exchange Commission of Cambodia (SECC), the Financial Conduct Authority (FCA) of the UK, and the Financial Services Commission of the British Virgin Islands (FSC BVI).  See below for details on GKFX Prime’s subsidiaries:   

• GKFX is a registered trading symbol of AKFX Financial Services Limited, part of the Global Capital Group. AKFX Financial Services Limited is authorized and regulated by the Malta Financial Services Authority (“MFSA”) under a CRES license with registration C60473. AKFX Financial Services Limited provides its services outside Malta under the EU MiFID II Directive.
• GKFX Cambodia is a registered trademark of GKFX Cambodia Co Ltd, part of the Global Capital Group. GKFX Cambodia Co Ltd is authorized and regulated by the Securities and Exchange Commission of Cambodia (“SECC”) under license 026.
• International Finance House Ltd is authorized and regulated by the British Virgin Islands’ financial authority called the Financial Services Commission (“FSC BVI”) with company number 1728826 and BVI license number SIBA / L / 1066.
• GKPro is the registered trademark of GKFX Financial Services Ltd, which is part of the Global Kapital Group. GKPro is the registered trademark of GKFX Financial Services Ltd, which is authorized and regulated by the Financial Conduct Authority (“FCA”) under the license 501320. GKFX Financial Services Ltd is licensed in the United Kingdom.

South Africans will be trading under the subsidiary, International Finance House Ltd, authorised and regulated by the Financial Services Commission of the British Virgin Islands.  

The British Virgin Islands FSC provides less regulatory oversight than those of the EU and Australia, and although it requires brokers to keep client funds in segregated accounts, it does not require brokers to offer negative balance protection or restrict leverage to protect their traders. 

However, while GKFX Prime segregates all client funds from its operational account, it does not offer its traders negative balance protection.  Additionally, GKFX Prime offers high leverage to its clients – up to 1000:1 on some of its account types. It also has no minimum deposit requirements on three of its accounts, which means for traders who deposit small amounts, it will be difficult to hold a substantial trading position without getting stopped out and losing the money in their trading account, and possibly going into a negative balance. 

Awards

GKFX Prime has won numerous awards since its inception, including:

• Best APAC Region Broker 2021 – ADVFN International Financial Awards
• Best Overall Forex Broker 2020 – International Investor Awards
• Best Forex Broker 2019 – The Forex Expo Dubai
• Best CFD Broker 2019 – Portal.de 1.Platz  
• Best Forex Trading Platform 2017 – Bergen
• Winner International Finance Awards 2017

Overall, considering its history of responsible behaviour, strong international regulation, and wide industry acclaim, GKFX Prime is a safe broker to trade with.  However, traders should be aware of the high leverage, low minimum deposit requirements, and lack of negative balance protection, which could see their trading accounts wiped out or even incur a negative balance.

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Trading Fees

GKFX Prime’s trading fees are higher than other similar brokers.  

GKFX Prime offers three commission-free accounts and an ECN account with tighter spreads and a commission per lot.  There are no minimum deposit requirements on three of its accounts, but to open a VIP Variable Account, traders need to make a deposit of at least 5,000 USD (for more on GKFX’s accounts, click here). 

GKFX Prime’s accounts were assessed to compare the costs to those of other brokers. When making this calculation, we use one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread. In a welcome show of transparency, GKFX Prime publishes its average spreads alongside each financial instrument for all of its account types.

The costs were evaluated based on the trading fees on one lot (100 000 USD) on the EUR/USD, including the spread and commission:

Spread x Trade Size + Commission = Total Trading Cost (USD):

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As you can see from the table above, the trading costs on the VIP Variable Account are lower than the costs on the other three accounts and are lower than those charged by other brokers on similar accounts. However, traders need to maintain a minimum account balance of 5,000 USD, which puts it only within the reach of serious beginners or more experienced traders.   

The trading costs on the other three accounts are higher than average – the cost for trading one lot of EUR/USD among similar brokers is about 9 USD per lot.  

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Broker

Trading Conditions

Base Currencies

EURUSD (Standard)

Trading Cost (Standard)

EURUSD (Best)

GBPUSD (Best)

USDJPY (Best)

Commission

GKFX Prime

3.5/ 5

EUR, USD, GBP, JPY

1.80 pips

USD 18

0.90 pips

1.30 pips

1.70 pips

USD 0

FP Markets

5/ 5

USD, AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD

0.00 pips

USD 6

0 pips

0.10 pips

0 pips

USD 6

Pepperstone

4.5/ 5

EUR, GBP, USD, AUD, NZD, JPY, CHF, SGD, HKD, CAD

1.00 pips

USD 10

0.10 pips

0.40 pips

0.30 pips

USD 0

Swap Fees

The other trading costs to consider are the swap fees for positions held overnight.  The swap/rollover fee is the interest rate difference between two currencies of the Forex pair you are trading.  Clients pay and earn interest for both currencies (for borrowing one and lending the other).  You are subject to overnight financing only if your positions are open past 10 pm UK time (GMT 22:00).  

Depending on the pair, volume, and the order type (long or short), your accounts will be charged or credited at rollover time automatically.  Please note that accounts are charged/credited for 3 days at spot value on Wednesdays or Fridays, depending on the product.  GKFX Prime publishes all swap fees alongside each instrument on its website.  For example, the swap rates on 1 lot of EUR/USD are -5.40 for a long position and +0.35 for a short position. 

Overall, GKFX Prime’s trading fees are higher than average on three of its accounts, and lower than average on its VIP Variable Account, but this requires a minimum deposit of 5,000 USD.  

Non-trading Fees

GKFX Prime’s non-trading fees are lower than those charged by other similar brokers.

Some of the most overlooked trading costs are the non-trading fees that are charged by brokers.  These fees can significantly affect your profitability and so should be carefully scrutinised.

However, at GKFX Prime no fees are charged for deposits or withdrawals, and GKFX Prime does not charge inactivity fees on dormant accounts.  This is a welcome development in an industry that charges fees on most transactions.  

Account Opening

GKFX Prime has a fast and hassle-free account opening process, with quick verification.

South African traders are eligible to open an account at GKFX Prime.  While there are no minimum deposit requirements on three of its accounts, traders must maintain a balance of 5,000 USD to open a VIP Variable Account.

GKFX Prime offers both corporate and individual accounts, but we will outline the process for opening an individual account:

1. Register an account.  This can be done by clicking on the “Open Account” button.  Traders are required to fill in their personal information (name, email address, and telephone number) and create a password.
2. Next traders can choose between opening a live or demo account.
3. Traders are then required to fill in their personal details, including date of birth, place of birth, physical address, and citizenship.  
4. The fourth step requires traders to fill in a form detailing their financial status.
5. In the last step, traders are required to fill out a suitability test.  Traders that pass the suitability test will be able to open a live account, and GKFX will recommend that those with limited trading experience open a demo account. This is a responsible move in an industry often accused of an irresponsible approach to consumer protection.
6. In order to open a live account, traders will have to choose their preferred trading platform (MT4 or MT5), base currency, and account type.
7. Lastly, traders who are eligible to open a live account will have to confirm their identity.  GKFX Prime will need two documents from you:
   1. A photo ID (passport, driver’s license, or national ID card) and; 
   2. A secondary ID (a bank or utility statement with your full name and address dated in the last three months).

We suggest you read GKFX Primes risk disclosure, customer agreement, and terms of business before you start trading. 

Overall, GKFX Prime’s account-opening process is quick, efficient, and accounts are generally ready for trading within a matter of hours.

GKFX Prime offers four live accounts and a demo account, which is more than other brokers, and the accounts are suited to both beginners and more experienced traders.  

GKFX Prime offers trading on five different instruments, including Forex, commodities, indices, stocks, and cryptocurrencies (click here for more on GKFX Prime’s tradable instruments).  GKFX Prime offers four live accounts and a demo account, and three of the accounts have no minimum deposit requirements.  

The fact that there are no minimum deposit requirements on three of GKFX Prime’s accounts makes them accessible to beginner traders.   We define beginner traders as inexperienced traders who have never traded before or have been trading for less than a year. Beginners often do not want to risk trading large sums of money, and will generally not be able to trade full-time during the workweek.  

However, experienced traders generally prefer paying higher minimum deposits in exchange for tighter spreads. GKFX Prime’s VIP Variable Accounts has an extremely tight spread, averaging at 0.6 pips on the EUR/USD and no commissions are charged.  However, this is in exchange for a minimum deposit of 5,000 USD, making it only accessible to more experienced traders.  

Again, it should be emphasized that because GKFX Prime has no minimum deposit requirements on three of its accounts, offers leverage of up to 1000:1, and offers no negative balance protection, it will be difficult for traders to hold a substantial trading position without getting stopped out and losing the money in their trading account and possibly even going into a negative balance.   

Traders can choose between the MetaTrader 4 and MetaTrader 5 platforms and GKFX Prime allows all trading strategies, including hedging, scalping, and copy trading.  It also offers swap-free accounts. See below for account details:

Standard Fixed Account

A commission-free trading account, fixed spreads start at 1.80 pips pips on the EUR/USD, which is wider than other similar brokers.  There are no minimum deposit requirements and leverage is up to 1000:1.  Trading is available on over 43 FX pairs and the maximum trading volume is up to 100 lots. 

Standard Variable

The Standard Variable account is, as the name suggests, a variable spread account with spreads starting at 1.2 pips on the EUR/USD, which is still wider than other similar brokers.  Trading is offered on 47 FX pairs, leverage is up to 1000:1, and there are no minimum deposit requirements. A maximum of 100 lots can be traded.

VIP Variable

The VIP Variable Account is a commission-free account and offers variable spreads starting at 0.6 pips on the EUR/USD, which is tighter than other similar brokers but this is in exchange for a much higher minimum deposit – of 5000 USD.  The maximum leverage is only up to 400:1, trading is offered on 47 FX pairs, and the maximum trade volume is 100 lots,

ECN Zero Account

GKFX Prime’s only ECN account, variable spreads start at 0.0 pips on the EUR/USD which is tighter than most other brokers, the maximum trading volume is 100 lots, and leverage is up to 1000:1.  The account offers trading on 48 FX pairs, and a commission of 10 USD round turn per lot is charged, which is higher than the commissions at other brokers.  

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Demo Account

GKFX Prime offers a free unlimited demo account where users can practice trading on MT4/MT5 platforms with zero risks. Virtual funds of up to 100,000 USD/EUR/GBP are loaded onto the demo accounts.

Islamic Account

An optional swap-free or Islamic account option is available for all traders by request.  Some small differences separate it from the standard account, but much of the details are the same.

There is no minimum deposit, and leverage is still available up to 1:400 but spreads start at 2.5 pips on this account, and a commission of 10 USD/lot per day is charged on all positions that are open for more than five consecutive nights.

The wider spreads are in place to make up for the revenue lost by the broker that would have been gained by charging interest for holding the positions overnight.

Deposits & Withdrawals

GKFX offers an average number of deposit and withdrawal methods, and while no commissions are charged, GKFX Prime takes a long time to process withdrawal requests.  

A well-regulated broker, GKFX Prime does not process payments to third parties. All withdrawal requests from a trading account must go to a bank account or a source in the trader’s name.

Deposits and withdrawals are accepted via bank transfers, credit cards, local banks, and e-wallets.  No deposit or withdrawal fees are charged.  Most deposit methods are instant.  Withdrawals by bank transfer take anywhere from 1 to 5 business days, depending on the country, and 3 – 5 business days for credit card transfers. Credit card deposits may cause minor additional charges due to exchange rate differences.

Bonuses

At the time of writing, there are a few bonuses and promotions available for South African clients:

• GKFX Prime offers a 55% first deposit bonus, up to 5,500 USD.  This offer is valid for all new clients.  
• Existing clients receive a 25% re-deposit bonus.  

Base Currencies (Trading Account Currencies)

GKFX Prime offers four base currencies, which is limited compared to other brokers, and South African traders will also be disappointed that there is no ZAR trading account option.

At GKFX Prime, traders can only choose from four base currencies: USD, GBP, EUR, and JPY. This is limited compared to most other international brokers, and is disappointing for South Africans who will likely have bank accounts denominated in ZAR and will have to pay conversion fees on all deposits and withdrawals.  Conversion fees can make trading expensive, and are usually not presented on the fee report, but affect profitability.  

For traders that trade in large volumes (more than 10 lots a month), it is better to open an account denominated in USD at a digital currency bank, especially for trading on assets such as the EUR/USD. This is because when trading a USD quoted currency pair with a ZAR account, there will be a small conversion fee for every trade made.

Overall, GKFX Prime offers fewer trading account currencies than most other large international brokers and doesn’t offer accounts denominated in ZAR. 

GKFX Prime offers two trading platforms, which is average compared to other similar brokers.

GKFX Prime offers trading on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.  While MT4 and MT5 are both excellent trading platforms, many other CFD brokers also offer their own web-based platforms, which tend to be easier to use for beginner traders. On the other hand, the benefit of GKFX Prime offering third-party platforms such as MT4 and MT5 is that traders can take their own customised version of the platform with them should they choose to migrate to another broker.  Additionally, there are thousands of plugins and tools available for the MetaTrader platforms.

MetaTrader 4

MT4 has established itself as the industry standard, and is widely recognised for its fast execution speeds, range of charting tools, algorithmic trading, and customisability.  Other features of GKFX Prime’s MT4 include:

• 50+ preinstalled technical indicators
• 24 analytical charting tools
• 3 chart types
• 9 timeframes
• 1-click trading.  
• Customisation to the trader’s style.
• One-click trading
• Complete suite of trading tools and operations
• Algorithmic trading, which allows any trading strategy to be formalised and implemented as an Expert Advisor. 
• Customisable alerts
• Access to MetaTrader market and MQL4 community.

MetaTrader 5

Continuing its predecessor’s reputation, the MT5 platform provides traders with everything they need to trade the financial markets.  It incorporates all of the key features of MT4 and an optimised environment for EA trading. Features include:

• 38+ preinstalled technical indicators
• 44 analytical charting tools
• 3 chart types
• 21 timeframes
• Six pending order types
• Detachable charts,
• Depth of Market
• An integrated Economic Calendar.

Overall, although GKFX Prime only offers the Metatrader suite of platforms, which are not as beginner-friendly as the proprietary platforms offered at other brokers, MT4 and MT5 are considered some of the best third-party platforms in the industry.  

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Broker

Platform Choice

Copy Trading

Platforms

GKFX Prime

4.5/ 5

Yes

MT4

MT5

FP Markets

5/ 5

Yes

MT4

MT5

cTrader

IRESS

Pepperstone

5/ 5

Yes

MT4

MT5

cTrader

TradingView

Mobile Trading

GKFX Prime’s mobile trading platforms are average compared to other similar brokers.

GKFX Prime offers support for MT4 and MT5 mobile trading apps for Android and iOS. Traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts.  

Trading Tools

GKFX Prime’s trading tools are excellent compared to other similar brokers.  

GKFX offers a number of useful trading tools, including Autochartist, Trading Central, a VPS service, the MT4/MT5 Booster tools, in addition to the Autotrade and Zulutrade Apps for social trading. It also offers the PAMM account management system.

Autochartist

Autochartist is an award-winning automated technical analysis tool that works with MT4 and identifies trading opportunities across hundreds of financial instruments. Autochartist is free to all GKFX Prime clients.

Autochartist’s advanced recognition engine identifies the strongest potential trading opportunities and predicts future price movements. Some of Autochartist’s key features are:

• Chart pattern recognition
• Fibonacci pattern recognition
• Key level analysis
• Pattern quality indication

Autochartist is one of the best technical analysis tools on the market, and GKFX Prime does well to offer this tool to its clients.  

Trading Central

Trading Central is a tool that provides a technical market analysis from third-party industry experts.  Trading Central’s top-notch indicators help guide client trades through an easy-to-access platform.  It is intuitive, scans the market for opportunities 24/7, and provides comprehensive analysis and a constant notification alert system.  Overall, Trading Central is an excellent analysis tool.

VPS (Virtual Private Server) Hosting

According to its website, GKFX has developed its own VPS hosting service – a private platform, reserved for select clients, who can access it remotely.  The server works day and night, executing orders and running automated strategy robots.

There are three different VPS packages available at GKFX Prime:

• Welcome VPS: With a minimum starting balance of 4,000 USD and minimum trade volume of 10 lots per month, traders can access GKFX Prime’s VPS service for free. Failing the minimum requirements, GKFX Prime will charge a monthly fee of 25 USD.  The bandwidth on this option is 10 GB and the disk space is 25 GB.
• Platinum VPS: For expert traders with a balance of 8,000 USD and a monthly trade volume of 30 lots, the Platinum VPS is free. Alternatively, it can be obtained for a monthly fee of 55 USD.  The bandwidth on this account is 100GB and the disk space is 40GB, making the execution speeds faster than on the Welcome VPS package.  
• Diamond VPS: For the fastest, lowest latency trading, the Diamond VPS is available for GKFX Prime’s elite customers with an account balance of 80,000 USD and a monthly trade volume of 100 lots.  Alternatively, this package is available for a monthly fee of 160 USD.  

VPS services ensure trades are never disrupted by technological or connectivity issues, such as load-shedding or internet service failure, which is a benefit to algorithmic traders who need to be connected to a server 24/7 to maximise uptime.

MT4/MT5 Booster

Designed to enhance the MT4 and MT5 platforms, the Booster comes with 9 add-ons, including new charts, indicators and UI options to optimize trading performance.  The package is available for all retail clients who deposit at least 2,500 USD.  A few of the tools are highlighted below:

• Mini terminal: Allows traders to adapt the platforms’ deal tickets and charts to their preferences with a host of highly configurable new features.
• Market Manager: Gain full control over symbol watchlists and all account activity in one window. Select symbols, view price activity, and manage orders. It also allows traders to name and save preferred symbols in convenient groups.
• Session Map: A map that tracks the global financial markets and an economic calendar that offers the latest key information.
• Correlation matrix: Enables you to see how correlated your watched markets are, and limit your risk accordingly.
• Sentiment trader: Allows traders to analyse market sentiment or view a historic price vs sentiment chart.

PAMM

GKFX Prime’s PAMM service allows traders to invest in proven strategies executed by expert traders and take a share of the profit.  Benefits of using the PAMM system include:

• Real-Time Data updates, where followers can observe the status of their investments.
• Advanced analysis tools for expert traders to improve their trading performance.
• No hassle – no trading experience is needed to open a follower account.

Zulutrade

Zulutrade allows traders to place automatic trades with highly customized settings.  It is a peer-to-peer social trading platform.  The platform is designed to be user-friendly and requires no prior trading experience. ZuluTrade users can select the traders they want to follow using the Performance Table that algorithmically ranks traders based on plenty of important performance factors.  Traders with higher minimum deposits can access Zulutrade for free, but traders will have to contact GKFX Prime directly to find out more.  

Myfxbook Autotrade

Myfxbook Autotrade is also available to users who make a higher minimum deposit.  With Myfxbook Autotrade, traders do not need to build their own strategy or conduct research on the forex markets. This tool provides the opportunity to copy a wide selection of systems directly to GKFX Prime’s MT4 trading account.  One of the other benefits of the Myfxbook Autotrade copy trading platform is its functionality.  It offers multiple copy trading modes and there is no limit on the number of Strategy Providers that can be followed.  

On the whole, copy trading is useful for traders who are interested in the financial markets but lack the experience and knowledge.

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Broker

Economic Calendar

Autochartist

Trading Central

Trading View

Free VPS

GKFX Prime

Yes

Yes

Yes

No

Yes

FP Markets

Yes

Yes

No

Yes

Yes

Pepperstone

Yes

Yes

No

Yes

Yes

GKFX Prime offers a limited range of tradable assets compared to other large international brokers.

GKFX Prime’s range of financial instruments for CFD trading (click here for more details on CFD trading), includes Forex, share CFDs, commodities, cryptocurrencies, and indices.

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• Forex: GKFX Prime has over 50 currency pairs available for trading which is average compared to other similar brokers, including majors (EUR/USD, GBP/USD, and USD/JPY) and minors (NZD/CAD, EUR/JPY, and USD/ZAR), and exotics. The leverage on Forex pairs is up to 1000:1 depending on the account.
• Share CFDs: GKFX Prime offers 145  share CFDs, which is compared to other brokerages, but trading is only available on the MT5 platform.  The selection available includes some of the major US, UK, and European Exchanges. Leverage on share CFDs is up to 20:1.  
• Indices: Limited compared to other brokerages, there are only 17 indices available for trading at GKFX Prime.  These include the FTSE 100, CAC 40, Germany’s DAX 30, & the Dow Jones.  Leverage is up to 1:50 on indices.  
• Commodities: GKFX Prime offers trading on 10 commodities, which is average compared to other brokers.  Commodities include metals such as gold and silver and energies such as natural gas and oil.  The leverage is up to 1:100 on commodities.
• Cryptocurrencies: GKFX Prime offers only 3 cryptocurrencies for trading, including Bitcoin, Ethereum, and Litecoin, which is a limited range than is available at other brokers.  Leverage is up to 5:1.

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Overall, GKFX Prime offers a limited range of tradable instruments on MT4 and MT5, which may leave more experienced traders dissatisfied.

GKFX Prime for Beginners

GKFX provides a comprehensive and well-structured selection of educational materials.  It also provides a daily news update and weekly market analysis videos.  Educational materials are presented in both written and video formats.  

Educational Materials

GKFX Prime’s educational videos and articles are organised into beginner, trader, and expert categories:

• The Beginner section covers the core elements of Forex trading. Beginner topics include What is Forex? The Advantages of Forex, and Currency Pairs.
• The Trader section helps traders improve their skills and introduces them to new tools and gadgets to enhance trading performance. Topics include Order types and Opening a Position.
• The Expert section delves into deeper topics such as market sentiment and strategy building.

GKFX Prime also offers a free downloadable e-book and regular webinars and seminars.   Webinars and seminars are educational in nature and also allow traders to expand their professional networks.

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Broker

Beginner Course

Advanced Course

Well Structured Education

Education Quality

Webinars

GKFX Prime

Yes

Yes

Yes

Medium

Yes

FP Markets

Yes

No

Yes

Medium

Yes

Pepperstone

Yes

Yes

Yes

Medium

Yes

While GKFX Prime’s educational content is not as broad or in-depth as the best trading educators, like BDSwiss or IG Markets, it is still better than most market maker brokers and will be useful for both beginners and experienced traders.

Market Analysis

The market analysis materials available at GKFX Prime are limited compared to other brokers.

GKFX Prime offers a daily selection of major news and articles that explain the current market sentiment.  These articles are curated by the GKFX Prime in-house research team, and although the articles are brief, the information is relevant and insightful.   

The weekly videos are created by a team of analysts that explain the highlights of the past week and financial market expectations of the upcoming week. 

Customer Support

GKFX Prime’s customer support is available via email, inline contact form, telephone, and live chat. Support is available 24 hours a day, from 10 pm Sunday – 10 pm Friday. The website is available in nine languages.

We found the customer support largely unresponsive – we could not get answers to our questions via email, and the live chat feature was not functional.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the GKFX Prime product offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. GKFX Prime would like you to know that: All financial products traded on margin carry a high degree of risk to your capital. They are not suited to all investors, and you can lose more than your initial deposit. Please ensure that you fully understand the risks involved and seek independent advice if necessary. 

Overview

GKFX Prime is a well-regulated market maker broker offering multi-asset trading on four live accounts on the top industry platforms. The trading costs on most of its accounts are higher than average, but there are no minimum deposit requirements making them accessible to beginner traders.  Trading costs improve in its VIP Variable Account, but this is in exchange for a high minimum deposit requirement of 5,000 USD. 

The educational materials are comprehensive, though not as good as the best brokers in this space, and its market analysis materials are lacking.  However, traders can access a range of useful trading tools, including Autochartist, Trading Central, a VPS service, and various copy trading platforms, some of which are available at an extra cost.  Lastly, South Africans should be aware that negative balance protection is not available, and in combination with the high leverage and low minimum deposits, could see their accounts wiped out or go into a negative balance. 

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She is the Senior Editor for FXScouts.  She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.