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GKFX vs OctaFX 2023

BrokerNotes.co

Written by BrokerNotes.co

March 14, 2023

Trying to decide between GKFX and OctaFX? 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 OctaFX.

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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Compare

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Overall RatingGKFXOctaFX
Overall Rating 7.1 / 10 7 / 10
Account TypeGKFXOctaFX
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account Yes Yes
Copy TradingGKFXOctaFX
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade No No
CryptocurrencyGKFXOctaFX
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)GKFXOctaFX
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)GKFXOctaFX
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsGKFXOctaFX
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No No
Social Trading / Copy Trading Yes Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals No No
ETF No No
U.S. Stocks (CFD) Yes Yes
Trading PlatformsGKFXOctaFX
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform No Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes Yes
Regulatory LicensesGKFXOctaFX
Tier-1 Licenses 0 0
Australia (ASIC Authorised) No No
Canada (SRO Authorised) No No
United Kingdom (U.K.) (FCA Authorised) No No
Hong Kong (SFC Authorised) No No
Singapore (MAS Authorised) No No
Switzerland (FINMA Authorised) No No
USA (CFTC Authorized) No No
Tier-2 Licenses 1 2
Tier-3 Licenses 0 0
Research, EducationGKFXOctaFX
Trading Central (Recognia) Yes No
Forex News (Top-Tier Sources) No Yes
Daily Market Commentary Yes Yes
Autochartist Yes Yes
Investor Dictionary (Glossary) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Client Webinars (Archived) Yes Yes
Trading CostsGKFXOctaFX
Minimum Deposit $0 $25
Average Spread EUR/USD - Standard N/A info 0.9 info
All-in Cost EUR/USD - Active N/A info N/A
Active Trader or VIP Discounts No No
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No No
Trading ToolsGKFXOctaFX
Watchlists - Total Fields 7 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 30 30
Mobile Charting - Indicators / Studies 30 30
Trust FactorsGKFXOctaFX
Year Founded 2013 2011
Publicly Traded (Listed) No No
Bank No No
European Union Authorised (MiFID) Yes info Yes info
Trust Score 66 69
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GKFX vs OctaFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 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 OctaFX.

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 OctaFX?

OctaFX has a trust score of 69, giving it a "High Risk" trust label.

Is GKFX a good broker?

GKFX offers the full MetaTrader suite as well as a proprietary app. Spreads are competitive on GKFX's Prime Plus account – though it requires a $15,000 deposit. GKFX is regulated in the EU via its Malta-based entity, but with only the one regulatory license, its Trust Score is below the industry average.

Is OctaFX a good broker?

OctaFX is a MetaTrader broker that boasts its own social copy trading platform, developed in-house. OctaFX has decent pricing, but a narrow range of markets to trade and fewer regulatory licenses than you'd find with the best brokers in the industry.

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 OctaFX are Australia (ASIC Authorised), Canada (SRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized).. Neither have USA (CFTC Authorized)

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 OctaFX is Cyprus (CySEC Authorised) and South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses unfortunately, neither GKFX nor OctaFX are Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).. Neither have Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

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

Does GKFX offer MetaTrader? Does OctaFX offer MetaTrader?

Both GKFX and OctaFX 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 OctaFX differ in terms of minimum deposit? What about average spreads and funding options?

GKFX requires a minimum deposit of $0, while OctaFX requires a minimum deposit of $25. From our testing we found GKFX offers spreads of N/A, while OctaFX offers spreads of 0.9. GKFX supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) for popular funding options, where OctaFX 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 OctaFX?

Both GKFX and OctaFX allow you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD).. Neither have Spread Betting, Agriculturals and ETF Looking at total tradeable symbols, GKFX has 354, compared to 229 from OctaFX.

Can I trade cryptocurrency with GKFX or OctaFX?

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 OctaFX allow you to trade physical cryptocurrencies.

Who offers more research tools, GKFX or OctaFX?

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 OctaFX has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.

Broker Reviews

Still looking for more information, read our broker reviews.

GKFX Review

OctaFX Review

Overall winner: GKFX

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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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