Saxo Bank vs GKFX 2023

Saxo Bank has a trust score of 99, giving it a "Highly Trusted" 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.

GKFX has a trust score of 66, giving it a "High Risk" trust label.

Saxo Bank is a highly-trusted broker that ranks near the top in practically every category. It provides traders and investors with an incredible platform experience (including on mobile) alongside powerful research and a vast selection of more than 40,000 symbols to trade across multiple asset classes.

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.

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. Saxo Bank is Australia (ASIC Authorised), Hong Kong (SFC Authorised), Japan (SFC Authorised), Singapore (MAS Authorised) and United Kingdom (U.K.) (FCA Authorised), while GKFX is none.. Neither have Canada (CIRO Authorised), CBI Authorised (Ireland), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, Saxo Bank is UAE (DFSA/Central Bank Authorised), while GKFX is none.. Neither have China (CBRC Authorised), Cyprus (CySEC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses unfortunately, neither Saxo Bank nor GKFX 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).

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

For MetaTrader Saxo Bank provides neither of these, while GKFX provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

Saxo Bank requires a minimum deposit of €2,000, while GKFX requires a minimum deposit of $0. From our testing we found Saxo Bank offers spreads of 0.9, while GKFX offers spreads of N/A. Both Saxo Bank and GKFX offer Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) for deposits.. Neither have PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw)

Saxo Bank offers a more diverse selection of investment options than GKFX allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, Saxo Bank has 60000, compared to 354 from GKFX.

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 Saxo Bank nor GKFX allow you to trade physical cryptocurrencies.

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

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